Document:

Exhibit 4.7

 

AMENDED AND RESTATED VOTING AGREEMENT

 

THIS AMENDED AND RESTATED VOTING AGREEMENT (this “Agreement”) is made as of February 19, 2019 by and among:

 

1.                                      Cloudminds Inc., an exempted company incorporated with limited liability under the laws of the Cayman Islands (the “Company”),

 

2.                                      the investors listed on Schedule A hereto (each an “Investor” and collectively the “Investors”), and

 

3.                                      the persons and entities listed on Schedule B hereto (each a “Key Ordinary Holder”, collectively the “Key Ordinary Holders” and together with the Investors, the “Shareholders”).

 

RECITALS

 

A.                                    Certain Investors and the Company entered into an Amended and Restated Voting Agreement dated as of August 23, 2017 (the “Prior Agreement”).

 

B.                                    Certain Investors and the Company are parties to that certain Series B Preference Share and Warrant Purchase Agreement dated as of February 19, 2019 (the “Series B Purchase Agreement”) relating to the issue and sale of Series B Preference Shares of a par value of US$0.00005 each in the Company (the “Series B Preference Shares”, together with the Series Seed-1 Preference Shares, Series Seed Preference Shares, Series A Preference Shares and Series A+ Preference Shares, the “Preference Shares”) and warrants to purchase Series B Preference Shares (together with that certain warrant to purchase Ordinary Shares, dated as of October 8, 2015, issued to SoftBank Group Capital Limited (formerly known as SoftBank Group International Limited) and transferred to SVF Cloud (Singapore) Pte. Ltd. (“SVF”) on January 9, 2019, each, a “Convertible Security”).  The Company may sell and issue additional Series B Preference Shares (the “Additional Series B Shares”) and Convertible Securities to certain Investors and other investors (the “Additional Series B Investors”) pursuant to the Series B Purchase Agreement.

 

C.                                    The obligations of the Company and certain Investors under the Series B Purchase Agreement are conditioned, among other things, upon the execution and delivery of this Agreement by the Investors, the Key Ordinary Holders and the Company.

 

D.                                    The parties hereto, representing all of the parties necessary to amend the Prior Agreement, desire to amend and restate the Prior Agreement by entering into this Agreement on terms and conditions set forth herein, which shall amend, restate, supersede and replace in their entirety the Prior Agreement.

 

NOW, THEREFORE, in consideration of the mutual premises and covenants set forth herein, the parties hereto agree to amend and restate the Prior Agreement and in lieu of the Prior Agreement accept the rights and be bound by the obligations as follows:

 

 

1.                                      Agreement to Vote.  Each Shareholder, as a holder of Preference Shares and/or ordinary shares of a par value of US$0.00005 each in the Company (the “Ordinary Shares”), hereby agrees on behalf of itself and any transferee or assignee of any such Preference Shares and/or Ordinary Shares to hold all of the Preference Shares and Ordinary Shares registered in its name (and any securities of the Company issued with respect to, upon conversion of, or in exchange or substitution of the Preference Shares or Ordinary Shares, the Series B Preference Shares issuable upon exercise of the Convertible Securities, and any other voting securities of the Company subsequently acquired by such Investor) (hereinafter collectively referred to as the “Voting Shares”) subject to, and to vote the Voting Shares at general or special meetings of shareholders and to sign written resolutions or give written consent with respect to such Voting Shares in accordance with, the provisions of this Agreement.

 

2.                                      Election of Directors.  On all matters relating to the election or appointment of one or more directors of the Company, each Shareholder shall vote at general or special meetings of shareholders and give written consent with respect to, such number of Voting Shares then owned by them (or as to which they then have voting power) as may be necessary to ensure that the size of the Board shall be set and remain at eight (8) directors and to elect or appoint (and maintain in office) as members of the Board of Directors of the Company (the “Board”) the following individuals:

 

2.1                               One (1) individual designated by Anji Boye Investment Partnership (Limited Partnership) or its affiliates (“Bojiang”), for so long as it continues to hold not less than fifty percent (50%) of the Series B Preference Shares (as adjusted for any share split, share dividend, recapitalization, capital reorganization, or the like) that it originally purchased from the Company, as a member of the Board elected or appointed by the holders of the Series B Preference Shares, as a separate series, pursuant to Article 5.2(a) of Schedule 1 of the Fourth Amended and Restated Memorandum and Articles of Association of the Company (the “Restated Articles”).  Such director shall initially be Jiangchao Chu.

 

2.2                               Two (2) individuals designated by SVF, or entities controlling, controlled by or under common control with SVF, each as a member of the Board elected or appointed by the holders of the Series B Preference Shares, as a separate series, pursuant to Article 5.2(b) of Schedule 1 of the Restated Articles.  One such director shall initially be Murtaza Ahmed, and the other seat shall initially be vacant.

 

2.3                               One (1) individual designated by Bojiang, for so long as it continues to hold not less than fifty percent (50%) of the Series A Preference Shares (as adjusted for any share split, share dividend, recapitalization, capital reorganization, or the like) that it originally purchased from the Company pursuant to that certain Series A Preference share Purchase Agreement, as a member of the Board elected or appointed by the holders of the Series A Preference Shares, as a separate series, pursuant to Article 5.2(c) of Schedule 1 of the Restated Articles.  Such director shall initially be Tian Luo.

 

2.4                               One (1) individual designated by SoftBank Group Capital Limited (“SoftBank”), or entities controlling, controlled by or under common control with Softbank, as the member of the Board elected or appointed by the holders of the Series Seed Preference Shares, as a separate series, pursuant to Article 5.2(d) of Schedule 1 of the Restated Articles.  Such director shall initially be David Thevenon.

 

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2.5                               One (1) individual designated by KIT Mobility Limited (“KIT”), for so long as it continues to hold not less than fifty percent (50%) of the Series Seed Preference Shares (as adjusted for any share split, share dividend, recapitalization, capital reorganization, or the like) that it originally purchased from the Company, as the member of the Board elected or appointed by the holders of the Series Seed Preference Shares, as a separate series, pursuant to Article 5.2(e) of Schedule 1 of the Restated Articles.  Such director shall initially be WenBiao Li.

 

2.6                               Two (2) individuals designated as members of the Board elected or appointed by the holders of the Ordinary Shares, voting as a single class on an as-converted basis, pursuant to Section 5.2(f) of Schedule 1 of the Restated Articles, one of whom shall be the then-incumbent chief executive officer of the Company.  Such directors shall initially be William Xiao-Qing Huang and Zhe Zhang.

 

Each Shareholder with the right to designate or participate in the designation of a director as specified above hereby represents and warrants to the Company that, to such Shareholder’s knowledge, none of the “bad actor” disqualifying events described in Rule 506(d)(1)(i)-(viii) promulgated under the Securities Act of 1933, as amended (the “Securities Act”) (each, a “Disqualification Event”), is applicable to such Shareholder’s initial designee named above except, if applicable, for a Disqualification Event as to which Rule 506(d)(2)(ii) or (iii) or (d)(3) is applicable.  Any director designee to whom any Disqualification Event is applicable, except for a Disqualification Event as to which Rule 506(d)(2)(ii) or (iii) or (d)(3) is applicable, is hereinafter referred to as a “Disqualified Designee”.  Each Shareholder with the right to designate or participate in the designation of a director as specified above hereby covenants and agrees (A) not to designate or participate in the designation of any director designee who, to such Shareholder’s knowledge, is a Disqualified Designee and (B) that in the event such Shareholder becomes aware that any individual previously designated by any such Shareholder is or has become a Disqualified Designee, such Shareholder shall as promptly as practicable take such actions as are necessary to remove such Disqualified Designee from the Board and designate a replacement designee who is not a Disqualified Designee.

 

Each Shareholder with the right to designate or participate in the designation of a director pursuant to this Agreement hereby represents that none of the Disqualification Events is applicable to such Shareholder or any of its Rule 506(d) Related Parties, except, if applicable, for a Disqualification Event as to which Rule 506(d)(2)(ii) or (iii) or (d)(3) is applicable.    For purposes of this Agreement, “Rule 506(d) Related Party” shall mean with respect to any Shareholder any other person that is a beneficial owner of such Shareholder’s securities for purposes of Rule 506(d) of the Securities Act.  Each Shareholder with the right to designate or participate in the designation of a director pursuant to this Agreement hereby agrees that it shall notify the Company and each Investor promptly in writing in the event a Disqualification Event becomes applicable to such Shareholder or any of its Rule 506(d) Related Parties, except, if applicable, for a Disqualification Event as to which Rule 506(d)(2)(ii) or (iii) or (d)(3) is applicable.

 

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3.                                      Removal; Filling of Vacancies; Failure to Designate.  On all matters relating to the removal of one or more directors of the Company, each Shareholder shall vote at general or special meetings of shareholders and give written consent with respect to, such number of Voting Shares then owned by them (or as to which they then have voting power) as may be necessary to remove from the Board any director selected for removal by the shareholders entitled to designate such director pursuant to Section 2.  Any vacancy created by such removal shall be filled pursuant to Section 2.  No director elected or appointed pursuant to Section 2 may be removed without the vote or written consent of the shareholders entitled to designate such director pursuant to Section 2.  In the event of the resignation, death or disqualification of a director, the shareholders entitled to designate such director shall promptly nominate a new director in accordance with Section 2, and each Shareholder shall promptly vote his, her or its Voting Shares to elect or appoint such nominee to the Board.  In the event that any director is elected or appointed to the Board as the result of the filling of a vacancy by members of the Board, then at any time thereafter, upon the written request of shareholders entitled to designate such director pursuant to Section 2, and without limiting the generality of Section 8, the Company shall use best efforts to cause, as promptly as is possible and in compliance with the Company’s memorandum and articles of association, either a meeting of shareholders to be held or a written resolution of shareholders to be circulated, in each case submitting to the vote or written consent of shareholders, respectively, the proposed removal of such director and/or election or appointment of a substitute director in lieu thereof in accordance with this Agreement.  In the absence of any designation from the persons or groups with the right to designate a director as specified above, the director previously designated by them and then serving shall be reelected or re-appointed if still eligible to serve as provided herein.

 

4.                                      Legend on Share Certificates.  Each certificate representing any Voting Shares and the register of members of the Company shall be endorsed by the Company with a legend reading substantially as follows:

 

“THE RIGHT TO VOTE THE SHARES [REPRESENTED BY THIS CERTIFICATE] [REFLECTED ON THIS REGISTER OF MEMBERS] IS SUBJECT TO CERTAIN RESTRICTIONS SET FORTH IN A VOTING AGREEMENT, AS MAY BE AMENDED FROM TIME TO TIME, A COPY OF WHICH IS ON FILE AT THE CORPORATION’S PRINCIPAL PLACE OF BUSINESS. BY ACCEPTING ANY INTEREST IN SUCH SHARES THE PERSON ACCEPTING SUCH INTEREST SHALL BE DEEMED TO AGREE TO AND SHALL BECOME BOUND BY ALL THE PROVISIONS OF THAT VOTING AGREEMENT, INCLUDING CERTAIN RESTRICTIONS ON TRANSFER AND OWNERSHIP SET FORTH THEREIN.”

 

The Company, by its execution of this Agreement, agrees that it will cause the certificates evidencing the Voting Shares and the Register of Members of the Company, to bear the legend required by this Section 4, and it shall supply, free of charge, a copy of this Agreement to any holder of a certificate evidencing Voting Shares upon written request from such holder to the Company at its principal office.  The parties to this Agreement do hereby agree that the failure to cause the certificates evidencing the Voting Shares to bear the legend required by this Section 4 herein and/or the failure of the Company to supply, free of charge, a copy of this Agreement as provided hereunder shall not affect the validity or enforcement of this Agreement.

 

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5.                                      No Liability for Election of Recommended Directors.  Neither the Company nor any Shareholder, nor any officer, director, stockholder or shareholder, partner, employee or agent of such party, makes any representation or warranty as to the fitness or competence of the nominee of any party hereunder to serve on the Board by virtue of such party’s execution of this Agreement or by the act of such party in voting for such nominee pursuant to this Agreement.

 

6.                                      Grant of Proxy.  Should the provisions of this Agreement be construed to constitute the granting of proxies, such proxies shall be deemed coupled with an interest and are irrevocable for the term of this Agreement.

 

7.                                      Specific Enforcement.  Each party hereto agrees that its obligations hereunder are necessary and reasonable in order to protect the other parties to this Agreement, and each party expressly agrees and understands that monetary damages would inadequately compensate an injured party for the breach of this Agreement by any party, that this Agreement shall be specifically enforceable, and that, in addition to any other remedies that may be available at law, in equity or otherwise, any breach or threatened breach of this Agreement shall be the proper subject of a temporary or permanent injunction or restraining order, without the necessity of proving actual damages.  Further, each party hereto waives any claim or defense that there is an adequate remedy at law for such breach or threatened breach.

 

8.                                      Covenants of the Company.  The Company agrees to use its best efforts, within the requirements of applicable law, to ensure that the rights granted hereunder are effective and that the parties hereto enjoy the benefits thereof.  Such actions include, without limitation, the use of the Company’s best efforts to cause the nomination and election or appointment of the directors as provided above, by causing a meeting of shareholders to be held or by causing a written resolution of shareholders to be circulated.  The Company will not, by any voluntary action, avoid or seek to avoid the observance or performance of any of the terms to be performed hereunder by the Company, but will at all times in good faith assist in the carrying out of all of the provisions of this Agreement and in the taking of all such actions as may be necessary, appropriate or reasonably requested by the holders of a majority of the outstanding voting securities held by the parties hereto assuming conversion of all outstanding securities in order to protect the rights of the parties hereunder against impairment.

 

9.                                      Irrevocable Proxy.  Each Investor hereby constitutes and appoints the President of the Company, with full power of substitution, as the proxies of such party with respect to the matters set forth herein, including without limitation, election or appointment of persons as members of the Board in accordance with Section 2 hereto, and hereby authorizes each of them to represent and to vote, if and only if the party (i) fails to vote or (ii) attempts to vote (whether by proxy, in person or by written resolution), in a manner which is inconsistent with the terms of this Agreement, all of such party’s Voting Shares in favor of the election or appointment of persons as members of the Board determined pursuant to and in accordance with the terms and provisions of this Agreement.  The proxy granted pursuant to the immediately preceding sentence is given in consideration of the agreements and covenants of the Company and the parties in connection with the transactions contemplated by this Agreement and, as such, is coupled with an interest and shall be irrevocable unless and until this Agreement terminates or expires pursuant to Section 11 hereof.  Each party hereto hereby revokes any and all previous proxies with respect to the Voting Shares and shall not hereafter, unless and until this Agreement terminates or expires pursuant to Section 11 hereof, purport to grant any other proxy or power of attorney with respect to any of the Voting Shares, deposit any of the Voting Shares into a voting trust or enter into any agreement (other than this Agreement), arrangement or understanding with any person, directly or indirectly, to vote, grant any proxy or give instructions with respect to the voting of any of the Voting Shares, in each case, with respect to any of the matters set forth herein.

 

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10.                               Drag-Along Rights.  At any time after the thirty (30) month anniversary of the Initial Closing, if the holders of a majority of the outstanding Preference Shares (including the Convertible Securities), voting together as a separate class on an as-exercised and as-converted basis, which majority shall include SVF, approve a Liquidation Event, in which the purchaser is not an affiliate of any Investor, the Key Ordinary Holders and all Investors shall (i) vote or give written consent with respect to all shares owned or controlled by them in favor of the proposed Liquidation Event and in opposition of any proposal expected to delay or impair the consummation of such Liquidation Event, (ii) refrain from exercising any dissenters’ rights or rights of appraisal at any time in connection with such proposed Liquidation Event, (iii) take all action necessary to effect the proposed Liquidation Event, subject to the following conditions; and (iv) if such Liquidation Event is structured as (A) a merger, consolidation or sale of assets, the Member shall waive any dissenters’ rights, appraisal rights or similar rights in connection with such merger, consolidation or sale of assets, or (B) a sale of shares, the Member shall agree to sell all of the shares and rights to acquire shares of capital stock of the Company on the terms and conditions approved by the Board of Directors and the holders of a majority of the then-outstanding shares of Preference Shares, subject in each case to the following conditions:

 

10.1                        no shareholder shall be required to make any representation, covenant or warranty in connection with the Liquidation Event in their capacity as shareholders, other than as to such shareholder’s ownership and authority to sell, free of liens, claims and encumbrances, the securities proposed to be sold by such shareholder;

 

10.2                        the consideration payable with respect to each share in each class or series as a result of such Liquidation Event is the same (except for cash payments in lieu of fractional shares) as for each other share in such class or series; and

 

10.3                        each class and series of equity securities of the Company will be entitled to receive the same form of consideration (and be subject to the same indemnity and escrow provisions) as a result of such Liquidation Event.

 

11.                               Termination.  This Agreement shall terminate upon the earlier to occur of:

 

11.1                        an agreement in writing by the Shareholders holding a majority of the Voting Shares (for the avoidance of doubt, including Convertible Securities), which majority must include SVF;

 

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11.2                        the closing date of the initial underwritten public offering of the Company’s securities on the Hong Kong Stock Exchange, New York Stock Exchange or NASDAQ Global Market (other than a registration statement relating either to the sale of securities to employees of the Company pursuant to its share option, share purchase or similar plan or a SEC Rule 145 transaction);

 

11.3                        at such time as the Company is required to file reports pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934, as amended;

 

11.4                        the consummation of a Liquidation Event (as defined in the Restated Articles); and

 

11.5                        the execution by the Company of a general assignment for the benefit of creditors or the appointment of a receiver or trustee to take possession of the property and assets of the Company.

 

12.                               Manner of Voting.  The voting of shares pursuant to this Agreement may be effected in person, by proxy, by written resolution, or in any other manner permitted by applicable law.  All ordinary shares or preference shares held or acquired by affiliated entities or persons shall be aggregated together for the purpose of determining the availability of any rights under this Agreement and such affiliated persons may apportion such rights among themselves in any manner they deem appropriate.  For the avoidance of doubt, SoftBank Vision Fund L.P., a limited partnership formed under the laws of Jersey, SoftBank Group Corp. and all persons or entities controlling, controlled by or under common control with either SoftBank Vision Fund L.P. or SoftBank Group Corp. shall be deemed to be affiliates of each other.

 

13.                               Amendments and Waivers.  Any term hereof may be amended and the observance of any term hereof may be waived (either generally or in a particular instance and either retroactively or prospectively) only with the written consent of the Company, the Key Ordinary Holders and the holders of a majority of the sum of the number of outstanding Ordinary Shares then held by all Investors which were issued upon exercise and/or conversion of Convertible Securities and Preference Shares plus the number of Ordinary Shares issuable upon exercise and/or conversion of all outstanding Convertible Securities and Preference Shares then held by all Investors, which majority must include SVF; provided that any amendment or waiver of Section 2.1 shall require the written consent of Bojiang; any amendment or waiver of Section 2.2 shall require the written consent of SVF; any amendment or waiver of Section 2.3 shall require the written consent of Bojiang; any amendment or waiver of Section 2.4 shall require the written consent of Softbank, and any amendment or waiver Section 2.6 or this provision shall require the written consent of the holders of the majority of the then outstanding Ordinary Shares held by the Key Ordinary Holders.  Any amendment or waiver so effected shall be binding upon the Company, the Investors, the Key Ordinary Holders and all of their respective successors and assigns whether or not such party, successor or assignee entered into or approved such amendment or waiver.

 

14.                               Successors and Assigns.  The provisions of this Agreement shall be binding upon the successors in interest, heirs and assigns to any of the Voting Shares.  The Company shall not permit the transfer of any of the Voting Shares on its books or issue a new certificate representing any of the Voting Shares unless and until the person to whom such security is to be transferred shall have executed a written agreement, substantially in the form of this Agreement, pursuant to which such person becomes a party to this Agreement and agrees to be bound by all the provisions hereof as if such person were an Investor.  Nothing in this Agreement, express or implied, is intended to confer upon any party other than the parties hereto or their respective successors and assigns any rights, remedies, obligations, or liabilities under or by reason of this Agreement, except as expressly provided in this Agreement.

 

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15.                               Share Splits, Share Dividends, etc.  In the event of any issuance of the Company’s voting securities hereafter to any of the parties hereto (including, without limitation, in connection with any share split, share dividend, recapitalization, capital reorganization, or the like), such shares shall become subject to this Agreement and shall be endorsed with the legend set forth in Section 4.

 

16.                               Additional Shareholders.

 

16.1                        Upon the sale of Additional Series B Shares to Additional Series B Investors in accordance with the Series B Purchase Agreement, the Company, without prior action on the part of any Investor, shall require each Additional Series B Investor to execute and deliver this Agreement.  Each such Additional Series B Investor, upon execution and delivery of this Agreement by the Company and such Additional Series B Investor, shall be deemed an Investor hereunder.

 

16.2                        Upon the exercise of a Convertible Security to purchase Preference Shares pursuant to such Convertible Security, the Company, without prior action on the part of any Investor, shall require the holder of such Convertible Security (“Convertible Security Holder”) to execute and deliver this Agreement.  Each such Convertible Security Holder, upon exercise of the Convertible Security and execution and delivery of this Agreement by the Company and such Convertible Security Holder, shall be deemed an Investor hereunder.

 

16.3                        In the event that after the date of this Agreement, the Company enters into an agreement with any person or entity to issue Ordinary Shares (other than to an Additional Series B Investor or a Convertible Security Holder described in Section 16.1 and Section 16.2 above), then the Company, in its sole discretion, may cause such person or entity, as a condition precedent to entering into such agreement, to become a party to this Agreement by executing an Adoption Agreement in a form acceptable to the Company, agreeing to be bound by and subject to the terms of this Agreement as a Shareholder and thereafter such person or entity shall be deemed a Shareholder for all purposes under this Agreement.

 

17.                               Vote to Increase Authorized Shares. Each Shareholder agrees to vote or cause to be voted all Voting Shares owned by such Shareholder, or over which such Shareholder has voting control, from time to time and at all times, in whatever manner as shall be necessary to increase the number of authorized ordinary shares from time to time to ensure that there will be sufficient ordinary shares available for conversion of all of preference shares outstanding or subject to issuance upon exercise of warrants at any given time.

 

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18.                               Future Key Ordinary Holders.  If, after the date hereof, the Company issues Ordinary Shares to any employee or consultant, whether directly or upon the conversion or exercise of any outstanding options, warrants or other rights convertible into or exercisable for Ordinary Shares, who will after such issuance would hold (taking into account all Ordinary Shares, options and other purchase rights held by such employee or consultant) one percent (1%) or more of the Company’s then outstanding share capital, the Company shall, as a condition to such issuance, require such employee or consultant to be bound by, and subject to, all the terms and provisions of this Agreement as such terms are applicable to the Key Ordinary Holders.

 

19.                               Governing Law; Venue.  This Agreement is to be construed in accordance with and governed by the internal laws of the State of California without giving effect to any choice of law rule that would cause the application of the laws of any jurisdiction other than the internal laws of the State of California to the rights and duties of the parties.  All disputes and controversies arising out of or in connection with this Agreement shall be resolved exclusively by the state and federal courts located in Santa Clara County, California, and each party hereto agrees to submit to the jurisdiction of said courts and agrees that venue shall lie exclusively with such courts.

 

20.                               Counterparts, Facsimile.  This Agreement may be executed and delivered by facsimile signature and in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.

 

21.                               Titles and Subtitles.  The titles and subtitles used in this Agreement are used for convenience only and are not to be considered in construing or interpreting this Agreement.

 

22.                               Notices.  Except as may be otherwise provided herein, all notices, requests, waivers and other communications made pursuant to this Agreement shall be in writing and shall be conclusively deemed to have been duly given (a) when hand delivered to the other party; (b) when sent by facsimile to the number set forth below if sent between 8:00 a.m. and 5:00 p.m. recipient’s local time on a business day, or on the next business day if sent by facsimile to the number set forth below if sent other than between 8:00 a.m. and 5:00 p.m. recipient’s local time on a business day or when sent by electronic mail to the address set forth below if sent between 8:00 am and 5:00 pm recipient’s local time on a business day, or on the next business day if sent by electronic mail other than between 8:00 am and 5:00 pm recipient’s local time; (c) three business days after deposit in the U.S. mail with first class or certified mail receipt requested postage prepaid and addressed to the other party at the address set forth below; or (d) the next business day after deposit with a national overnight delivery service, postage prepaid, addressed to the parties as set forth below with next business day delivery guaranteed, provided that the sending party receives a confirmation of delivery from the delivery service provider.  Each person making a communication hereunder by facsimile or electronic mail shall promptly attempt to confirm by telephone to the person to whom such communication was addressed each communication made by it by facsimile or electronic mail pursuant hereto but the absence of such confirmation shall not affect the validity of any such communication.  A party may change or supplement the addresses given above, or designate additional addresses, for purposes of this Section 19 by giving the other party written notice of the new address in the manner set forth above.

 

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23.                               Expenses.  If any action at law or in equity is necessary to enforce or interpret the terms of this Agreement, the prevailing party shall be entitled to reasonable attorney’s fees, costs and necessary disbursements in addition to any other relief to which such party may be entitled.

 

24.                               Enforceability; Severability.  The parties hereto agree that each provision of this Agreement shall be interpreted in such a manner as to be effective and valid under applicable law.  If any provision of this Agreement shall nevertheless be held to be prohibited by or invalid under applicable law, (a) such provision shall be effective only to the extent of such prohibition or invalidity, without invalidating the remainder of such provision or the remaining provisions of this Agreement, and (b) the parties shall, to the extent permissible by applicable law, amend this Agreement, or enter into a voting trust agreement under which the Voting Shares shall be transferred to the voting trust created thereby, so as to make effective and enforceable the intent of this Agreement.

 

25.                               Delays or Omissions.  No delay or omission to exercise any right, power or remedy accruing to any party under this Agreement, upon any breach or default of any other party under this Agreement, shall impair any such right, power or remedy of such non-breaching or non-defaulting party nor shall it be construed to be a waiver of any such breach or default, or an acquiescence therein, or of or in any similar breach or default thereafter occurring; nor shall any waiver of any single breach or default be deemed a waiver of any other breach or default previously or thereafter occurring.  Any waiver, permit, consent or approval of any kind or character on the part of any party of any breach or default under this Agreement, or any waiver on the part of any party of any provisions or conditions of this Agreement, must be in writing and shall be effective only to the extent specifically set forth in such writing.  All remedies, either under this Agreement or by law or otherwise afforded to any party, shall be cumulative and not alternative.

 

26.                               Further Assurances.  At any time or from time to time after the date hereof, the parties agree to cooperate with each other, and at the request of any other party, to execute and deliver any further instruments or documents and to take all such further action as the other party may reasonably request in order to evidence or effectuate the consummation of the transactions contemplated hereby and to otherwise carry out the intent of the parties hereunder.

 

27.                               Entire Agreement.  This Agreement and the documents referred to herein constitute the entire agreement among the parties with respect to the subject matter hereof and no party shall be liable or bound to any other party in any manner by any warranties, representations or covenants except as specifically set forth herein or therein.

 

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IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first above written.

 

	
 
    	
COMPANY:
    
	
 
    	
 
    
	
 
    	
CLOUDMINDS   INC.
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ William Xiao-Qing Huang
    
	
 
    	
Name: William Xiao-Qing Huang
    
	
 
    	
Title: Authorized Signatory
    

 

 

IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first above written.

 

	
 
    	
KEY   ORDINARY HOLDER:
    
	
 
    	
 
    
	
 
    	
WILLIAM   XIAO-QING HUANG
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ William Xiao-Qing Huang
    
	
 
    	
Name: William Xiao-Qing Huang
    

 

 

IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first above written.

 

	
 
    	
KEY   ORDINARY HOLDER:
    
	
 
    	
 
    
	
 
    	
THE   2000 HUANG FAMILY LIMITED PARTNERSHIP
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ William Xiao-Qing Huang
    
	
 
    	
Name: William Xiao-Qing Huang
    
	
 
    	
Title: Authorized Signatory
    

 

 

IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first above written.

 

	
 
    	
KEY   ORDINARY HOLDER:
    
	
 
    	
 
    
	
 
    	
WATERS   FAMILY HOLDING LIMITED
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Haitao Jiang
    
	
 
    	
Name: Haitao Jiang
    
	
 
    	
Title: Authorized Signatory
    

 

 

IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first above written.

 

	
 
    	
KEY   ORDINARY HOLDER:
    
	
 
    	
 
    
	
 
    	
MONT   VISE FAMILY HOLDING LIMITED
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Bing Wang
    
	
 
    	
Name: Wang Bing
    
	
 
    	
Title: Authorized Signatory
    

 

 

IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first above written.

 

	
 
    	
KEY   ORDINARY HOLDER:
    
	
 
    	
 
    
	
 
    	
HUAGUANG   HOLDING LIMITED
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Guanghua Yang
    
	
 
    	
Name: Guanghua Yang
    
	
 
    	
Title: Authorized Signatory
    

 

 

IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first above written.

 

	
 
    	
KEY   ORDINARY HOLDER:
    
	
 
    	
 
    
	
 
    	
ROBERT&YA   LLC
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Zhangliang Tang
    
	
 
    	
Name: Zhangliang Tang
    
	
 
    	
Title: Authorized Signatory
    

 

 

IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first above written.

 

	
 
    	
INVESTOR:
    
	
 
    	
 
    
	
 
    	
KIT Mobility Limited
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Wenbiao Li
    
	
 
    	
Name: Wenbiao Li
    
	
 
    	
Title: Authorized Signatory
    

 

 

IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first above written.

 

	
 
    	
INVESTOR:
    
	
 
    	
 
    
	
 
    	
Keytone Ventures II, L.P.
    
	
 
    	
a Cayman Islands exempted limited partnership
    
	
 
    	
 
    
	
 
    	
By: Keytone Capital Partners II, L.P.,
    
	
 
    	
a Cayman Islands exempted limited partnership
    
	
 
    	
Its: General Partner
    
	
 
    	
 
    
	
 
    	
By: Keytone Investment Group II, Ltd.,
    
	
 
    	
a Cayman Islands exempted company
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Joe Zhou
    
	
 
    	
Name: Joe Zhou
    
	
 
    	
Title: Authorized Signatory
    

 

 

IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first above written.

 

	
 
    	
INVESTOR:
    
	
 
    	
 
    
	
 
    	
Icreate Investments Limited
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Yu Huang, Chiu-Lian
    
	
 
    	
Name: Yu Huang, Chiu-Lian
    
	
 
    	
Title: Authorized Signatory
    

 

 

IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first above written.

 

	
 
    	
INVESTOR:
    
	
 
    	
 
    
	
 
    	
Great Sign Investments Limited
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Pan, Li-Chung
    
	
 
    	
Name: Pan, Li-Chung
    
	
 
    	
Title: Authorized   Signatory
    

 

 

IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first above written.

 

	
 
    	
INVESTOR:
    
	
 
    	
 
    
	
 
    	
Mike Li
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Mike Li
    
	
 
    	
Name:
    	
Mike Li
    

 

 

IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first above written.

 

	
 
    	
INVESTOR:
    
	
 
    	
 
    
	
 
    	
Harbour Express Limited
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Zhao John Huan
    
	
 
    	
Name: Zhao John Huan
    
	
 
    	
Title: Authorized   Signatory
    

 

 

IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first above written.

 

	
 
    	
INVESTOR:
    
	
 
    	
 
    
	
 
    	
The JV Trust dtd 9/27/2002 c/o   Sharon Juang UBS Financial Services Inc.
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Ken Xie
    
	
 
    	
Name: Ken Xie
    
	
 
    	
Title: Authorized   Signatory
    

 

 

IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first above written.

 

	
 
    	
INVESTOR:
    
	
 
    	
 
    
	
 
    	
Franchael Holding Ltd.
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Jung-Kuei Jiang
    
	
 
    	
Name: Jung-Kuei Jiang
    
	
 
    	
Title: Authorized   Signatory
    

 

 

IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first above written.

 

	
 
    	
INVESTOR:
    
	
 
    	
 
    
	
 
    	
Lee Family Trust
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ James Lee
    
	
 
    	
Name: James Lee
    
	
 
    	
Title: Authorized   Signatory
    

 

 

IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first above written.

 

	
 
    	
INVESTOR:
    
	
 
    	
 
    
	
 
    	
Ivan Lee
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Ivan Lee
    
	
 
    	
Name:
    	
Ivan Lee
    

 

 

IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first above written.

 

	
 
    	
INVESTOR:
    
	
 
    	
 
    
	
 
    	
Estopia LLC
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Weili Dai
    
	
 
    	
Name: Weili Dai
    
	
 
    	
Title: Authorized   Signatory
    

 

 

IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first above written.

 

	
 
    	
INVESTOR:
    
	
 
    	
 
    
	
 
    	
Sutardja Ventures LLC
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Nicholas Sutardja
    
	
 
    	
Name: Nicholas Sutardja
    
	
 
    	
Title: Authorized   Signatory
    

 

 

IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first above written.

 

	
 
    	
INVESTOR:
    
	
 
    	
 
    
	
 
    	
Xiaoyan Wu
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Xiaoyan Wu
    
	
 
    	
Name:
    	
Xiaoyan Wu
    

 

 

IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first above written.

 

	
 
    	
INVESTOR:
    
	
 
    	
 
    
	
 
    	
Surfmax Investments LLC
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ G. George Lu
    
	
 
    	
Name: G. George Lu
    
	
 
    	
Title: Authorized Signatory
    

 

 

IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first above written.

	
 
    	
 
    
	
 
    	
INVESTOR:
    
	
 
    	
 
    
	
 
    	
Yihong Qi
    
	
 
    	
 
    	
 
    
	
 
    	
By: 
    	
/s/ Yihong Qi
    
	
 
    	
Name: Yihong Qi
    

 

 

IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first above written.

	
 
    	
 
    
	
 
    	
INVESTOR:
    
	
 
    	
 
    
	
 
    	
Jenny Ye
    
	
 
    	
 
    	
 
    
	
 
    	
By: 
    	
/s/ Jenny Ye
    
	
 
    	
Name: Jenny Ye
    

 

 

IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first above written.

	
 
    	
 
    
	
 
    	
INVESTOR:
    
	
 
    	
 
    
	
 
    	
Robert Chen
    
	
 
    	
 
    	
 
    
	
 
    	
By: 
    	
/s/ Robert Chen
    
	
 
    	
Name: Robert Chen
    

 

 

IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first above written.

	
 
    	
 
    
	
 
    	
INVESTOR:
    
	
 
    	
 
    
	
 
    	
Lucky Star International (HK) Limited
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Lucy Lu
    
	
 
    	
Name: Lucy Lu
    
	
 
    	
Title: Authorized Signatory
    

 

 

IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first above written.

	
 
    	
 
    
	
 
    	
INVESTOR:
    
	
 
    	
 
    
	
 
    	
Waters Family Holding Limited
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Haitao Jiang
    
	
 
    	
Name: Haitao Jiang
    
	
 
    	
Title: Authorized Signatory
    

 

 

IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first above written.

	
 
    	
 
    
	
 
    	
INVESTOR:
    
	
 
    	
 
    
	
 
    	
Mont Vise Family Holding Limited
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Bing Wang
    
	
 
    	
Name: Wang Bing
    
	
 
    	
Title: Authorized Signatory
    

 

 

IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first above written.

	
 
    	
 
    
	
 
    	
INVESTOR:
    
	
 
    	
 
    
	
 
    	
HuaGuang Holding Limited
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Guanghua Yang
    
	
 
    	
Name: Guanghua Yang
    
	
 
    	
Title: Authorized Signatory
    

 

 

IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first above written.

	
 
    	
 
    
	
 
    	
INVESTOR:
    
	
 
    	
 
    
	
 
    	
Fenwick & West LLP
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Scott E. Pine
    
	
 
    	
Name: Scott E. Pine
    
	
 
    	
Title: Authorized Signatory
    

 

 

IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first above written.

	
 
    	
 
    
	
 
    	
INVESTOR:
    
	
 
    	
 
    
	
 
    	
Jiang Tao
    
	
 
    	
 
    	
 
    
	
 
    	
By: 
    	
/s/ Jiang Tao
    
	
 
    	
Name: Jiang Tao
    

 

 

IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first above written.

 

	
 
    	
INVESTOR:
    
	
 
    	
 
    
	
 
    	
Launcher International Holdings Co. Ltd.
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Kei, Shun Yan
    
	
 
    	
Name: Kei, Shun Yan
    
	
 
    	
Title: Authorized Signatory
    

 

 

IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first above written.

	
 
    	
 
    
	
 
    	
INVESTOR:
    
	
 
    	
 
    
	
 
    	
Venusense Investment Limited
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Fengjing Du
    
	
 
    	
Name: Fengjing Du
    
	
 
    	
Title: Authorized Signatory
    

 

 

IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first above written.

	
 
    	
 
    
	
 
    	
INVESTOR:
    
	
 
    	
 
    
	
 
    	
Original Technology Holding Limited
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Wenhua Dai
    
	
 
    	
Name: Wenhua Dai
    
	
 
    	
Title: Authorized Signatory
    

 

 

IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first above written.

	
 
    	
 
    
	
 
    	
INVESTOR:
    
	
 
    	
 
    
	
 
    	
Wisdom Gem Capital Management Limited
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Huinan Yu
    
	
 
    	
Name: Huinan Yu
    
	
 
    	
Title: Authorized Signatory
    

 

 

IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first above written.

	
 
    	
 
    
	
 
    	
INVESTOR:
    
	
 
    	
 
    
	
 
    	
Wehitech Holding Limited
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Chao Song
    
	
 
    	
Name: Chao Song
    
	
 
    	
Title: Authorized Signatory
    

 

 

IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first above written.

	
 
    	
 
    
	
 
    	
INVESTOR:
    
	
 
    	
 
    
	
 
    	
ZGC US Fund, LP
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Wei Luo
    
	
 
    	
Name: Wei Luo
    
	
 
    	
Title: Authorized Signatory
    

 

 

IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first above written.

	
 
    	
 
    
	
 
    	
INVESTOR:
    
	
 
    	
 
    
	
 
    	
Anji Boye Investment Partnership (Limited   Partnership)
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Tian Luo
    
	
 
    	
Name: Tian Luo
    
	
 
    	
Title: Authorized Signatory
    

 

 

IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first above written.

	
 
    	
 
    
	
 
    	
INVESTOR:
    
	
 
    	
 
    
	
 
    	
SVF Cloud (Singapore) Pte. Ltd.
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Martin Joseph Oregan
    
	
 
    	
Name: Martin Joseph Oregan
    
	
 
    	
Title: Authorized Signatory
    

 

 

IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first above written.

	
 
    	
 
    
	
 
    	
INVESTOR:
    
	
 
    	
 
    
	
 
    	
CHINALIFE NOVA   INVESTMENTS
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Haochuan Zhang
    
	
 
    	
Name: Haochuan Zhang
    
	
 
    	
Title: Authorized Signatory
    

 

 

IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first above written.

	
 
    	
 
    
	
 
    	
INVESTOR:
    
	
 
    	
 
    
	
 
    	
LISHUI BOAN INVESTMENT   PARTNERSHIP (LIMITED PARTNERSHIP)
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Tian Luo
    
	
 
    	
Name: Tian Luo
    
	
 
    	
Title: Authorized Signatory
    

 

 

IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first above written.

 

	
 
    	
INVESTOR:
    
	
 
    	
 
    
	
 
    	
GEMDALE   (GROUP) CORPORATION LIMITED
    
	
 
    	
 
    	
 
    
	
 
    	
By: 
    	
/s/ Chuanjun Wei
    
	
 
    	
Name: Chuanjun Wei
    
	
 
    	
Title: Authorized Signatory
    

 

 

SCHEDULE A

 

SCHEDULE OF INVESTORS

 

Investors Name

 

KIT Mobility Limited

Keytone Ventures II, L.P.

Icreate Investments Limited

Great Sign Investments Limited

Mike Li

Harbour Express Limited

The JV Trust dtd 9/27/2002 c/o Sharon Juang UBS Financial Services Inc.

Franchael Holding Ltd.

Lee Family Trust

Ivan Lee

Estopia LLC

Sutardja Ventures LLC

Xiaoyan Wu

Surfmax Investments LLC

Yihong Qi

Jenny Ye

Robert Chen

Lucky Star International (HK) Limited

Waters Family Holding Limited

Mont Vise Family Holding Limited

HuaGuang Holding Limited

Fenwick & West LLP

Jiang Tao

Launcher International Holdings Co. Ltd.

Venusense Investment Limited

Wisdom Gem Capital Management Limited

Original Technology Holding Limited

Wehitech Holding Limited

ZGC US Fund, LP

Anji Boye Investment Partnership (Limited Partnership)

SVF Cloud (Singapore) Pte. Ltd.

Chinalife Nova Investments

Lishui Boan Investment Partnership (Limited Partnership)

Gemdale (Group) Corporation Limited

 

 

SCHEDULE B

SCHEDULE OF KEY ORDINARY HOLDERS

 

Key Ordinary Holder Name

 

William Xiao-Qing Huang

The 2000 Huang Family Limited Partnership

Mont Vise Family Holding Limited

HuaGuang Holding Limited

Waters Family Holding Limited

Robert&Ya LLC

 

 

AMENDMENT NO. 1

 

TO

 

AMENDED AND RESTATED VOTING AGREEMENT

 

This Amendment No. 1 to Amended and Restated Voting Agreement (the “Amendment”), dated as of June 28, 2019, is by and among Cloudminds Inc., an exempted company incorporated with limited liability under the laws of the Cayman Islands (the “Company”), the investors listed on Schedule A hereto (the “Investors”), and the persons and entities listed on Schedule B hereto (each a “Key Ordinary Holder”, collectively the “Key Ordinary Holders” and together with the Investors, the “Shareholders”).

 

R E C I T A L S

 

WHEREAS, the Company and certain of the Shareholders have entered into that certain Amended and Restated Voting Agreement dated as of February 19, 2019 (the “Agreement”);

 

WHEREAS, the Company and the Shareholders wish to amend the Agreement as provided herein; and

 

WHEREAS, Section 13 of the Agreement provides that any term thereof may be amended and the observance of any term thereof may be waived (either generally or in a particular instance and either retroactively or prospectively) only with the written consent of the Company, the Key Ordinary Holders (as such term is defined in the Agreement) and the holders of a majority of the sum of the number of outstanding Ordinary Shares then held by all Investors (as such term is defined in the Agreement) which were issued upon exercise and/or conversion of Convertible Securities and Preference Shares plus the number of Ordinary Shares issuable upon exercise and/or conversion of all outstanding Convertible Securities and Preference Shares then held by all Investors (as such term is defined in the Agreement), which majority must include SVF; provided that any amendment or waiver of Section 2.1 shall require the written consent of Bojiang; any amendment or waiver of Section 2.2 shall require the written consent of SVF; any amendment or waiver of Section 2.3 shall require the written consent of Bojiang; any amendment or waiver of Section 2.4 shall require the written consent of SVF, and any amendment or waiver Section 2.6 or this provision shall require the written consent of the holders of the majority of the then outstanding Ordinary Shares held by the Key Ordinary Holders (as such term is defined in the Agreement) (collectively, the “Requisite Shareholders”).

 

NOW, THEREFORE, for good and valuable consideration, receipt and sufficiency of which is hereby acknowledged, the Company and the undersigned Shareholders constituting the Requisite Shareholders hereby agree to amend the Agreement as follows:

A M E N D M E N T

1.                                      Definitions; References; Interpretation.  Except as otherwise provided herein, capitalized terms used in this Amendment shall have the definitions set forth in the Agreement. Each reference to “this Agreement,” “hereof,” “hereunder,” “herein” and “hereby” with respect to the Agreement and each other similar reference contained in the Agreement shall refer to the Agreement, as amended hereby.

 

54

 

2.                                      Paragraph B of Recitals.  Paragraph B of Recitals is hereby amended by replacing “US$0.00005” with “US$0.0001”.

 

3.                                      Section 2.1.  Section 2.1 is hereby amended by replacing “Jiangchao Chu” with “Mengqiao Yang”.

 

4.                                      Section 2.2.  Section 2.2 is hereby amended by replacing “Murtaza Ahmed” with “Alex Mitchell”.

 

5.                                      Section 13.  Section 13 of the Agreement is hereby amended and restated to read in its entirety as follows:

 

13.                               Amendments and Waivers.  Any term hereof may be amended and the observance of any term hereof may be waived (either generally or in a particular instance and either retroactively or prospectively) only with the written consent of the Company, the majority of the then outstanding Ordinary Shares held by the Key Ordinary Holders and the holders of a majority of the sum of the number of outstanding Ordinary Shares then held by all Investors which were issued upon exercise and/or conversion of Convertible Securities and Preference Shares plus the number of Ordinary Shares issuable upon exercise and/or conversion of all outstanding Convertible Securities and Preference Shares then held by all Investors, which majority must include SVF; provided that any amendment or waiver of Section 2.1 shall require the written consent of Bojiang; any amendment or waiver of Section 2.2 shall require the written consent of SVF; any amendment or waiver of Section 2.3 shall require the written consent of Bojiang; any amendment or waiver of Section 2.4 shall require the written consent of SVF, and any amendment or waiver Section 2.6 or this provision shall require the written consent of the holders of the majority of the then outstanding Ordinary Shares held by the Key Ordinary Holders.  Any amendment or waiver so effected shall be binding upon the Company, the Investors, the Key Ordinary Holders and all of their respective successors and assigns whether or not such party, successor or assignee entered into or approved such amendment or waiver.

 

6.                                      Terms of the Agreement.  Except as expressly modified hereby, all terms, conditions and provisions of the Agreement shall continue in full force and effect unamended.

 

7.                                      Governing Law.  This Amendment shall be governed by and construed under the laws of the State of California without giving effect to any choice of law rule that would cause the application of the laws of any jurisdiction other than the internal laws of the State of California to the rights and duties of the parties.

 

8.                                      Counterparts.  This Amendment may be executed and delivered by facsimile or electronic signature and in two (2) or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one (1) and the same instrument.

 

55

 

9.                                      Entire Agreement.  This Amendment and the Agreement constitute the entire and exclusive agreement between the parties with respect to the subject matter hereof.  All previous discussions and agreements with respect to this subject matter are superseded by the Agreement and this Amendment.

 

[Signature Page Follows.]

 

56

 

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by their duly authorized representatives.

 

	
 
    	
COMPANY:
    
	
 
    	
 
    
	
 
    	
CLOUDMINDS   INC.
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ William Xiao-Qing Huang
    
	
 
    	
Name: William Xiao-Qing Huang
    
	
 
    	
Title: Authorized Signatory
    

 

 

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by their duly authorized representatives.

	
 
    	
 
    
	
 
    	
KEY   ORDINARY HOLDER:
    
	
 
    	
 
    
	
 
    	
WILLIAM   XIAO-QING HUANG
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ William Xiao-Qing Huang
    
	
 
    	
Name: William Xiao-Qing Huang
    

 

 

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by their duly authorized representatives.

	
 
    	
 
    
	
 
    	
KEY   ORDINARY HOLDER:
    
	
 
    	
 
    
	
 
    	
THE   2000 HUANG FAMILY LIMITED PARTNERSHIP
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ William Xiao-Qing Huang
    
	
 
    	
Name: William Xiao-Qing Huang
    
	
 
    	
Title: Authorized Signatory
    

 

 

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by their duly authorized representatives.

	
 
    	
 
    
	
 
    	
KEY   ORDINARY HOLDER:
    
	
 
    	
 
    
	
 
    	
MONT   VISE FAMILY HOLDING LIMITED
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Bing Wang
    
	
 
    	
Name: Wang Bing
    
	
 
    	
Title: Authorized Signatory
    

 

 

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by their duly authorized representatives.

	
 
    	
 
    
	
 
    	
KEY   ORDINARY HOLDER:
    
	
 
    	
 
    
	
 
    	
HUAGUANG   HOLDING LIMITED
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Guanghua Yang
    
	
 
    	
Name: Guanghua Yang
    
	
 
    	
Title: Authorized Signatory
    

 

 

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by their duly authorized representatives.

	
 
    	
 
    
	
 
    	
KEY   ORDINARY HOLDER:
    
	
 
    	
 
    
	
 
    	
WATERS   FAMILY HOLDING LIMITED
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Haitao Jiang
    
	
 
    	
Name: Haitao Jiang
    
	
 
    	
Title: Authorized Signatory
    

 

 

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by their duly authorized representatives.

	
 
    	
 
    
	
 
    	
KEY   ORDINARY HOLDER:
    
	
 
    	
 
    
	
 
    	
ROBERT&YA   LLC
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Zhangliang Tang
    
	
 
    	
Name: Zhangliang Tang
    
	
 
    	
Title: Authorized Signatory
    

 

 

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by their duly authorized representatives.

	
 
    	
 
    
	
 
    	
INVESTOR:
    
	
 
    	
 
    
	
 
    	
KIT Mobility Limited
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Wenbiao Li
    
	
 
    	
Name: Wenbiao Li
    
	
 
    	
Title: Authorized Signatory
    

 

 

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by their duly authorized representatives.

	
 
    	
 
    
	
 
    	
INVESTOR:
    
	
 
    	
 
    
	
 
    	
Keytone Ventures II, L.P.
    
	
 
    	
a Cayman Islands exempted limited partnership
    
	
 
    	
 
    
	
 
    	
By: Keytone Capital Partners II, L.P.,
    
	
 
    	
a Cayman Islands exempted limited partnership
    
	
 
    	
Its: General Partner
    
	
 
    	
 
    
	
 
    	
By: Keytone Investment Group II, Ltd.,
    
	
 
    	
a Cayman Islands exempted company
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Joe Zhou
    
	
 
    	
Name: Joe Zhou
    
	
 
    	
Title: Authorized Signatory
    

 

 

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by their duly authorized representatives.

	
 
    	
 
    
	
 
    	
INVESTOR:
    
	
 
    	
 
    
	
 
    	
Icreate Investments Limited
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Yu Huang, Chiu-Lian
    
	
 
    	
Name: Yu Huang, Chiu-Lian
    
	
 
    	
Title: Authorized Signatory
    

 

 

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by their duly authorized representatives.

 

	
 
    	
INVESTOR:
    
	
 
    	
 
    
	
 
    	
Great Sign Investments Limited
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Pan, Li-Chung
    
	
 
    	
Name: Pan, Li-Chung
    
	
 
    	
Title: Authorized Signatory
    

 

 

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by their duly authorized representatives.

	
 
    	
 
    
	
 
    	
INVESTOR:
    
	
 
    	
 
    
	
 
    	
Mike Li
    
	
 
    	
 
    	
 
    
	
 
    	
By: 
    	
/s/ Mike Li
    
	
 
    	
Name: Mike Li
    

 

 

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by their duly authorized representatives.

	
 
    	
 
    
	
 
    	
INVESTOR:
    
	
 
    	
 
    
	
 
    	
Harbour Express Limited
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Zhao John Huan
    
	
 
    	
Name: Zhao John Huan
    
	
 
    	
Title: Authorized Signatory
    

 

 

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by their duly authorized representatives.

	
 
    	
 
    
	
 
    	
INVESTOR:
    
	
 
    	
 
    
	
 
    	
The JV Trust dtd 9/27/2002 c/o Sharon Juang UBS Financial   Services Inc.
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Ken Xie
    
	
 
    	
Name: Ken Xie
    
	
 
    	
Title: Authorized Signatory
    

 

 

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by their duly authorized representatives.

	
 
    	
 
    
	
 
    	
INVESTOR:
    
	
 
    	
 
    
	
 
    	
Franchael Holding Ltd.
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Jung-Kuei Jiang
    
	
 
    	
Name: Jung-Kuei Jiang
    
	
 
    	
Title: Authorized Signatory
    

 

 

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by their duly authorized representatives.

	
 
    	
 
    
	
 
    	
INVESTOR:
    
	
 
    	
 
    
	
 
    	
Lee Family Trust
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ James Lee
    
	
 
    	
Name: James Lee
    
	
 
    	
Title: Authorized Signatory
    

 

 

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by their duly authorized representatives.

	
 
    	
 
    
	
 
    	
INVESTOR:
    
	
 
    	
 
    
	
 
    	
Ivan Lee
    
	
 
    	
 
    	
 
    
	
 
    	
By: 
    	
/s/ Ivan Lee
    
	
 
    	
Name: Ivan Lee
    

 

 

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by their duly authorized representatives.

	
 
    	
 
    
	
 
    	
INVESTOR:
    
	
 
    	
 
    
	
 
    	
Estopia LLC
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Weili Dai
    
	
 
    	
Name: Weili Dai
    
	
 
    	
Title: Authorized Signatory
    

 

 

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by their duly authorized representatives.

	
 
    	
 
    
	
 
    	
INVESTOR:
    
	
 
    	
 
    
	
 
    	
Sutardja Ventures LLC
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Nicholas Sutardja
    
	
 
    	
Name: Nicholas Sutardja
    
	
 
    	
Title: Authorized Signatory
    

 

 

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by their duly authorized representatives.

	
 
    	
 
    
	
 
    	
INVESTOR:
    
	
 
    	
 
    
	
 
    	
Xiaoyan Wu
    
	
 
    	
 
    	
 
    
	
 
    	
By: 
    	
/s/ Xiaoyan Wu
    
	
 
    	
Name: Xiaoyan Wu
    

 

 

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by their duly authorized representatives.

 

	
 
    	
INVESTOR:
    
	
 
    	
 
    
	
 
    	
Surfmax Investments LLC
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ G. George Lu
    
	
 
    	
Name:
    	
G. George Lu
    
	
 
    	
Title:
    	
Authorized Signatory
    

 

 

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by their duly authorized representatives.

 

	
 
    	
INVESTOR:
    
	
 
    	
 
    
	
 
    	
Yihong Qi
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Yihong Qi
    
	
 
    	
Name:
    	
Yihong Qi
    

 

 

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by their duly authorized representatives.

 

	
 
    	
INVESTOR:
    
	
 
    	
 
    
	
 
    	
Jenny Ye
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Jenny Ye
    
	
 
    	
Name:
    	
Jenny Ye
    

 

 

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by their duly authorized representatives.

 

	
 
    	
INVESTOR:
    
	
 
    	
 
    
	
 
    	
Robert Chen
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Robert Chen
    
	
 
    	
Name:
    	
Robert Chen
    

 

 

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by their duly authorized representatives.

 

	
 
    	
INVESTOR:
    
	
 
    	
 
    
	
 
    	
Lucky Star International (HK)   Limited
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Lucy Lu
    
	
 
    	
Name:
    	
Lucy Lu
    
	
 
    	
Title:
    	
Authorized Signatory
    

 

 

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by their duly authorized representatives.

 

	
 
    	
INVESTOR:
    
	
 
    	
 
    
	
 
    	
Waters Family Holding Limited
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Haitao Jiang
    
	
 
    	
Name:
    	
Haitao Jiang
    
	
 
    	
Title:
    	
Authorized Signatory
    

 

 

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by their duly authorized representatives.

 

	
 
    	
INVESTOR:
    
	
 
    	
 
    
	
 
    	
Mont Vise Family Holding   Limited
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Bing Wang
    
	
 
    	
Name:
    	
Wang Bing
    
	
 
    	
Title:
    	
Authorized Signatory
    

 

 

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by their duly authorized representatives.

 

	
 
    	
INVESTOR:
    
	
 
    	
 
    
	
 
    	
HuaGuang Holding Limited
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Guanghua Yang
    
	
 
    	
Name:
    	
Guanghua Yang
    
	
 
    	
Title:
    	
Authorized Signatory
    

 

 

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by their duly authorized representatives.

 

	
 
    	
INVESTOR:
    
	
 
    	
 
    
	
 
    	
Fenwick & West LLP
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Scott E. Pine
    
	
 
    	
Name:
    	
Scott E. Pine
    
	
 
    	
Title:
    	
Authorized Signatory
    

 

 

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by their duly authorized representatives.

 

	
 
    	
INVESTOR:
    
	
 
    	
 
    
	
 
    	
Jiang Tao
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Jiang Tao
    
	
 
    	
Name:
    	
Jiang Tao
    

 

 

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by their duly authorized representatives.

 

	
 
    	
INVESTOR:
    
	
 
    	
 
    
	
 
    	
Launcher International Holdings   Co. Ltd.
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Kei, Shun Yan
    
	
 
    	
Name:
    	
Kei, Shun Yan
    
	
 
    	
Title:
    	
Authorized Signatory
    

 

 

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by their duly authorized representatives.

 

	
 
    	
INVESTOR:
    
	
 
    	
 
    
	
 
    	
Venusense Investment Limited
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Fengjing Du
    
	
 
    	
Name:
    	
Fengjing Du
    
	
 
    	
Title:
    	
Authorized Signatory
    

 

 

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by their duly authorized representatives.

 

	
 
    	
INVESTOR:
    
	
 
    	
 
    
	
 
    	
Original Technology Holding   Limited
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Wenhua Dai
    
	
 
    	
Name:
    	
Wenhua Dai
    
	
 
    	
Title:
    	
Authorized Signatory
    

 

 

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by their duly authorized representatives.

 

	
 
    	
INVESTOR:
    
	
 
    	
 
    
	
 
    	
Wisdom Gem Capital Management   Limited
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Huinan Yu
    
	
 
    	
Name:
    	
Huinan Yu
    
	
 
    	
Title:
    	
Authorized Signatory
    

 

 

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by their duly authorized representatives.

 

	
 
    	
INVESTOR:
    
	
 
    	
 
    
	
 
    	
Wehitech Holding Limited
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Chao Song
    
	
 
    	
Name:
    	
Chao Song
    
	
 
    	
Title:
    	
Authorized Signatory
    

 

 

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by their duly authorized representatives.

 

	
 
    	
INVESTOR:
    
	
 
    	
 
    
	
 
    	
ZGC US Fund, LP
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Wei Luo
    
	
 
    	
Name:
    	
Wei Luo
    
	
 
    	
Title:
    	
Authorized Signatory
    

 

 

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by their duly authorized representatives.

 

	
 
    	
INVESTOR:
    
	
 
    	
 
    
	
 
    	
Anji Boye Investment   Partnership (Limited Partnership)
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Tian Luo
    
	
 
    	
Name:
    	
Tian Luo
    
	
 
    	
Title:
    	
Authorized Signatory
    

 

 

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by their duly authorized representatives.

 

	
 
    	
INVESTOR:
    
	
 
    	
 
    
	
 
    	
SVF Cloud (Singapore) Pte. Ltd.
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Martin Joseph   Oregan
    
	
 
    	
Name:
    	
Martin Joseph Oregan
    
	
 
    	
Title:
    	
Authorized Signatory
    

 

 

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by their duly authorized representatives.

 

	
 
    	
INVESTOR:
    
	
 
    	
 
    
	
 
    	
CHINALIFE NOVA INVESTMENTS
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Haochuan Zhang
    
	
 
    	
Name:
    	
Haochuan Zhang
    
	
 
    	
Title:
    	
Authorized Signatory
    

 

 

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by their duly authorized representatives.

 

	
 
    	
INVESTOR:
    
	
 
    	
 
    
	
 
    	
LISHUI BOAN INVESTMENT   PARTNERSHIP (LIMITED PARTNERSHIP)
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Tian Luo
    
	
 
    	
Name:
    	
Tian Luo
    
	
 
    	
Title:
    	
Authorized Signatory
    

 

 

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by their duly authorized representatives.

 

	
 
    	
INVESTOR:
    
	
 
    	
 
    
	
 
    	
GEMDALE (GROUP) CORPORATION   LIMITED
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Chuanjun Wei
    
	
 
    	
Name:
    	
Chuanjun Wei
    
	
 
    	
Title: 
    	
Authorized Signatory
    

 

 

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by their duly authorized representatives.

 

	
 
    	
INVESTOR:
    
	
 
    	
 
    
	
 
    	
DAVID YAN LIMITED
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Li Mei Mei
    
	
 
    	
Name:
    	
Li Mei Mei
    
	
 
    	
Title:
    	
Authorized Signatory
    

 

 

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by their duly authorized representatives.

 

	
 
    	
INVESTOR:
    
	
 
    	
 
    
	
 
    	
KEVIN ZHU LIMITED
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Zhu Wei
    
	
 
    	
Name:
    	
Zhu Wei
    
	
 
    	
Title:
    	
Authorized Signatory
    

 

 

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by their duly authorized representatives.

 

	
 
    	
INVESTOR:
    
	
 
    	
 
    
	
 
    	
PETER CUI LIMITED
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Hao Tian Cui
    
	
 
    	
Name:
    	
Hao Tian Cui
    
	
 
    	
Title:
    	
Authorized Signatory
    

 

 

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by their duly authorized representatives.

 

	
 
    	
INVESTOR:
    
	
 
    	
 
    
	
 
    	
REDEYE FLAMINGO LIMITED
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Lu, Xiaoqiao
    
	
 
    	
Name:
    	
Lu, Xiaoqiao
    
	
 
    	
Title:
    	
Authorized Signatory
    

 

 

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by their duly authorized representatives.

 

	
 
    	
INVESTOR:
    
	
 
    	
 
    
	
 
    	
FANTINO INVESTMENTS LTD
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Savvas   Themistocleous
    
	
 
    	
Name:
    	
Savvas Themistocleous
    
	
 
    	
Title:
    	
Authorized Signatory
    

 

 

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by their duly authorized representatives.

 

	
 
    	
INVESTOR:
    
	
 
    	
 
    
	
 
    	
WHITE GLOSS CORPORATION
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Carlos Felipe   Botero Iriarte
    
	
 
    	
Name:
    	
Carlos Felipe Botero   Iriarte
    
	
 
    	
Title:
    	
Authorized Signatory
    

 

 

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by their duly authorized representatives.

 

	
 
    	
INVESTOR:
    
	
 
    	
 
    
	
 
    	
MATRIX JIAXING LIMITED
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Nayef Zaki Marar
    
	
 
    	
Name:
    	
Nayef Zaki Marar
    
	
 
    	
Title:
    	
Authorized Signatory
    

 

 

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by their duly authorized representatives.

 

	
 
    	
INVESTOR:
    
	
 
    	
 
    
	
 
    	
MONSOL VENTURES AG
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Gut Thomas
    
	
 
    	
Name:
    	
Gut Thomas
    
	
 
    	
Title:
    	
Authorized Signatory
    

 

 

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by their duly authorized representatives.

 

	
 
    	
INVESTOR:
    
	
 
    	
 
    
	
 
    	
EDINTOWN INVESTMENTS LTD
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Panayis Kyriacou
    
	
 
    	
Name:
    	
Panayis Kyriacou
    
	
 
    	
Title:
    	
Authorized Signatory
    

 

 

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by their duly authorized representatives.

 

	
 
    	
INVESTOR:
    
	
 
    	
 
    
	
 
    	
MAGIC FLOWER CULTURE   COMMUNICATION LIMITED
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Yan Huang
    
	
 
    	
Name:
    	
Yan Huang
    
	
 
    	
Title:
    	
Authorized Signatory
    

 

 

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by their duly authorized representatives.

 

	
 
    	
INVESTOR:
    
	
 
    	
 
    
	
 
    	
HICREAT GROUP LIMITED
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Wei Shen
    
	
 
    	
Name:
    	
Wei Shen
    
	
 
    	
Title:
    	
Authorized Signatory
    

 

 

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by their duly authorized representatives.

 

	
 
    	
INVESTOR:
    
	
 
    	
 
    
	
 
    	
LISHUI BOJIANG FURUI INVESTMENT   FUND PARTNERSHIP (LIMITED PARTNERSHIP)
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Tian Luo
    
	
 
    	
Name:
    	
Tian Luo
    
	
 
    	
Title:
    	
Authorized Signatory
    

 

 

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by their duly authorized representatives.

 

	
 
    	
INVESTOR:
    
	
 
    	
 
    
	
 
    	
LISHUI BOJIANG CHUANGRUI   INVESTMENT FUND PARTNERSHIP (LIMITED PARTNERSHIP)
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Tian Luo
    
	
 
    	
Name:
    	
Tian Luo
    
	
 
    	
Title:
    	
Authorized Signatory
    

 

 

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by their duly authorized representatives.

 

	
 
    	
INVESTOR:
    
	
 
    	
 
    
	
 
    	
LANGMA NO.9 (SHENZHEN) VENTURE   CAPITAL CENTER (LIMITED PARTNERSHIP)
    
	
 
    	
 
    	
 
    
	
 
    	
/s/ Langma No. 9   (Shenzhen) Venture Capital Center (Limited Partnership) (seal)
    
	
 
    	
Langma No. 9 (Shenzhen)   Venture Capital Center (Limited Partnership)
    

 

 

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by their duly authorized representatives.

 

	
 
    	
INVESTOR:
    
	
 
    	
 
    
	
 
    	
LANGMA NO.10 (SHENZHEN) VENTURE   CAPITAL CENTER (LIMITED PARTNERSHIP)
    
	
 
    	
 
    	
 
    
	
 
    	
/s/ Langma No. 10   (Shenzhen) Venture Capital Center (Limited Partnership) (seal)
    
	
 
    	
Langma No. 10   (Shenzhen) Venture Capital Center (Limited Partnership)
    

 

 

SCHEDULE A

SCHEDULE OF INVESTORS

 

Investors Name

 

KIT Mobility Limited

Keytone Ventures II, L.P.

Icreate Investments Limited

Great Sign Investments Limited

Mike Li

Harbour Express Limited

The JV Trust dtd 9/27/2002 c/o Sharon Juang UBS Financial Services Inc.

Franchael Holding Ltd.

Lee Family Trust

Ivan Lee

Estopia LLC

Sutardja Ventures LLC

Xiaoyan Wu

Surfmax Investments LLC

Yihong Qi

Jenny Ye

Robert Chen

Lucky Star International (HK) Limited

Waters Family Holding Limited

Mont Vise Family Holding Limited

HuaGuang Holding Limited

Fenwick & West LLP

Jiang Tao

Launcher International Holdings Co. Ltd.

Venusense Investment Limited

Original Technology Holding Limited

Wisdom Gem Capital Management Limited

Wehitech Holding Limited

ZGC US Fund, LP

Anji Boye Investment Partnership (Limited Partnership)

SVF Cloud (Singapore) Pte. Ltd.

David Yan Limited

Peter Cui Limited

Kevin Zhu Limited

Redeye Flamingo Limited

Lishui Boan Investment Partnership (Limited Partnership)

CHINALIFE NOVA INVESTMENTS

Fantino Investments LTD

White Gloss Corporation

Matrix Jiaxing Limited

Monsol Ventures AG

 

 

Edintown Investments Ltd

Magic Flower Culture Communication Limited

HICREAT Group Limited

Lishui Bojiang Furui Investment Fund Partnership (Limited Partnership)

Lishui Bojiang Chuangrui Investment Fund Partnership (Limited Partnership)

Gemdale (Group) Corporation Limited

Langma No.9 (Shenzhen) Venture Capital Center (Limited Partnership)

Langma No.10 (Shenzhen) Venture Capital Center (Limited Partnership)

 

 

SCHEDULE B

SCHEDULE OF KEY ORDINARY HOLDERS

 

Key Ordinary Holder Name

 

William Xiao-Qing Huang

The 2000 Huang Family Limited Partnership

Mont Vise Family Holding Limited

HuaGuang Holding Limited

Waters Family Holding Limited

Robert&Ya LLCExhibit 10.1

 

CLOUDMINDS INC.

 

2016 SHARE PLAN

 

ADOPTED ON MARCH 28, 2016

 

 

CLOUDMINDS INC. 2016 SHARE PLAN

 

SECTION 1.                                   ESTABLISHMENT AND PURPOSE.

 

The purpose of this Plan is to offer persons selected by the Company an opportunity to acquire a proprietary interest in the success of the Company, or to increase such interest, by acquiring Shares.  The Plan provides both for the direct award or sale of Shares and for the grant of Options to purchase Shares and the grant of Restricted Share Units over Shares.  Options granted under the Plan may be ISOs intended to qualify under Code Section 422 or Nonstatutory Options which are not intended to so qualify.

 

Capitalized terms are defined in Section 13.

 

SECTION 2.                                   ADMINISTRATION.

 

(a)                                 Committees of the Board of Directors.  The Plan may be administered by one or more Committees.  Each Committee shall consist, as required by applicable law, of one or more members of the Board of Directors who have been appointed by the Board of Directors.  Each Committee shall have such authority and be responsible for such functions as the Board of Directors has assigned to it.  If no Committee has been appointed, the entire Board of Directors shall administer the Plan.  Any reference to the Board of Directors in the Plan shall be construed as a reference to the Committee (if any) to whom the Board of Directors has assigned a particular function.

 

(b)                                 Authority of the Board of Directors.  Subject to the provisions of the Plan, the Board of Directors shall have full authority and discretion to take any actions it deems necessary or advisable for the administration of the Plan.  Notwithstanding anything to the contrary in the Plan, with respect to the terms and conditions of awards granted to Participants outside the United States, the Board of Directors may vary from the provisions of the Plan to the extent it determines it necessary and appropriate to do so; provided that it may not vary from those Plan terms requiring shareholder approval pursuant to Section 11(d) below.  All decisions, interpretations and other actions of the Board of Directors shall be final and binding on all Purchasers, all Optionees and all persons deriving their rights from a Purchaser or Optionee.

 

SECTION 3.                                   ELIGIBILITY.

 

(a)                                 General Rule.  Only Employees, Outside Directors and Consultants shall be eligible for the grant of Nonstatutory Options, Restricted Share Units or the direct award or sale of Shares.  Only Employees shall be eligible for the grant of ISOs.

 

(b)                                 Ten-Percent Shareholders.  A person who owns more than 10% of the total combined voting power of all classes of outstanding shares of the Company, its Parent or any of its Subsidiaries shall not be eligible for the grant of an ISO unless (i) the Exercise Price is at least 110% of the Fair Market Value of a Share on the Date of Grant (but in no event less than the par value per Share), and (ii) such ISO by its terms is not exercisable after the expiration of five years from the Date of Grant.  For purposes of this Subsection (b), in determining share ownership, the attribution rules of Code Section 424(d) shall be applied.

 

 

SECTION 4.                                   SHARES SUBJECT TO PLAN.

 

(a)                                 Basic Limitation.  Not more than 56,307,287 Shares may be issued under the Plan, subject to Subsection (b) below and Section 9(a).  All of these Shares may be issued upon the exercise of ISOs.  The number of Shares that are subject to Options, Restricted Share Units or other rights outstanding at any time under the Plan may not exceed the number of Shares that then remain available for issuance under the Plan.  The Company, during the term of the Plan, shall at all times reserve and keep available sufficient Shares to satisfy the requirements of the Plan.  Shares offered under the Plan may be authorized but unissued Shares or treasury Shares.

 

(b)                                 Additional Shares.  In the event that Shares previously issued under the Plan are reacquired by the Company, such Shares shall be added to the number of Shares then available for issuance under the Plan.  In the event that Shares that otherwise would have been issuable under the Plan are withheld by the Company in payment of the Purchase Price, Exercise Price or withholding taxes, such Shares shall remain available for issuance under the Plan.  In the event that an outstanding Option or other right for any reason expires or is canceled, the Shares allocable to the unexercised portion of such Option or other right shall be added to the number of Shares then available for issuance under the Plan.

 

SECTION 5.                                   TERMS AND CONDITIONS OF AWARDS OR SALES.

 

(a)                                 Grant or Purchase Agreement.  Each award of Shares under the Plan shall be evidenced by a Share Grant Agreement between the Grantee and the Company.  Each sale of Shares under the Plan (other than upon exercise of an Option) shall be evidenced by a Share Purchase Agreement between the Purchaser and the Company.  Such award or sale shall be subject to all applicable terms and conditions of the Plan and may be subject to any other terms and conditions which are not inconsistent with the Plan and which the Board of Directors deems appropriate for inclusion in a Share Grant Agreement or Share Purchase Agreement.  The provisions of the various Share Grant Agreements and Share Purchase Agreements entered into under the Plan need not be identical.

 

(b)                                 Duration of Offers and Nontransferability of Rights.  Any right to purchase Shares under the Plan (other than an Option) shall automatically expire if not exercised by the Purchaser within 30 days (or such other period as may be specified in the Award Agreement) after the grant of such right was communicated to the Purchaser by the Company.  Such right is not transferable and may be exercised only by the Purchaser to whom such right was granted.

 

(c)                                  Purchase Price.  The Purchase Price of Shares to be offered under the Plan, if newly issued, shall not be less than the par value of such Shares.  Subject to the foregoing, the Board of Directors shall determine the Purchase Price of Shares to be offered under the Plan at its sole discretion.  The Purchase Price shall be payable in a form described in Section 7.

 

SECTION 6.                                   TERMS AND CONDITIONS OF OPTIONS.

 

(a)                                 Option Agreement.  Each grant of an Option under the Plan shall be evidenced by a Share Option Agreement between the Optionee and the Company.  The Option shall be subject to all applicable terms and conditions of the Plan and may be subject to any other terms and conditions that are not inconsistent with the Plan and that the Board of Directors deems appropriate for inclusion in a Share Option Agreement.  The provisions of the various Share Option Agreements entered into under the Plan need not be identical.

 

E-2

 

(b)                                 Number of Shares.  Each Share Option Agreement shall specify the number of Shares that are subject to the Option and shall provide for the adjustment of such number in accordance with Section 9.  The Share Option Agreement shall also specify whether the Option is an ISO or a Nonstatutory Option.

 

(c)                                  Exercise Price.  Each Share Option Agreement shall specify the Exercise Price.  The Exercise Price of an Option shall not be less than 100% of the Fair Market Value of a Share on the Date of Grant but in no event less than the par value per Share, and in the case of an ISO a higher percentage may be required by Section 3(b).  Subject to the preceding sentence, the Exercise Price shall be determined by the Board of Directors at its sole discretion.  The Exercise Price shall be payable in a form described in Section 7.  This Subsection (c) shall not apply to an Option granted pursuant to an assumption of, or substitution for, another option in a manner that complies with Code Section 424(a) (whether or not the Option is an ISO).

 

(d)                                 Exercisability.  Each Share Option Agreement shall specify the date when all or any installment of the Option is to become exercisable.  No Option shall be exercisable unless the Optionee (i) has delivered an executed copy of the Share Option Agreement to the Company or (ii) otherwise agrees to be bound by the terms of the Share Option Agreement.  The Board of Directors shall determine the exercisability provisions of the Share Option Agreement at its sole discretion.

 

(e)                                  Basic Term.  The Share Option Agreement shall specify the term of the Option.  The term shall not exceed 10 years from the Date of Grant, and in the case of an ISO a shorter term may be required by Section 3(b).  Subject to the preceding sentence, the Board of Directors at its sole discretion shall determine when an Option is to expire.

 

(f)                                   Termination of Service (Except by Death).  Except as otherwise provided in a Share Option Agreement, if an Optionee’s Service terminates for any reason other than the Optionee’s death, then the Optionee’s Options shall expire on the earliest of the following dates:

 

(i)                                     The expiration date determined pursuant to Subsection (e) above;

 

(ii)                                  The date three months after the termination of the Optionee’s Service for any reason other than Disability, or such earlier or later date as the Board of Directors may determine (but in no event earlier than 30 days after the termination of the Optionee’s Service); or

 

(iii)                               The date six months after the termination of the Optionee’s Service by reason of Disability, or such later date as the Board of Directors may determine.

 

The Optionee may exercise all or part of the Optionee’s Options at any time before the expiration of such Options under the preceding sentence, but only to the extent that such Options had become exercisable before the Optionee’s Service terminated (or became exercisable as a result of the termination) and the underlying Shares had vested before the Optionee’s Service terminated (or vested as a result of the termination).  The balance of such Options shall lapse when the Optionee’s Service terminates.  In the event that the Optionee dies after the termination of the Optionee’s Service but before the expiration of the Optionee’s Options, all or part of such Options may be exercised (prior to expiration) by the executors or administrators of the Optionee’s estate or by any person who has acquired such Options directly from the Optionee by beneficiary designation, bequest or inheritance, but only to the extent that such Options had become exercisable before the Optionee’s Service terminated (or became exercisable as a result of the termination) and the underlying Shares had vested before the Optionee’s Service terminated (or vested as a result of the termination).

 

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(g)                                 Leaves of Absence.  For purposes of Subsection (f) above, Service shall be deemed to continue while the Optionee is on a bona fide leave of absence, if such leave was approved by the Company in writing and if continued crediting of Service for this purpose is expressly required by the terms of such leave or by applicable law (as determined by the Company).

 

(h)                                 Death of Optionee.  Except as otherwise provided in a Share Option Agreement, if an Optionee dies while the Optionee is in Service, then the Optionee’s Options shall expire on the earlier of the following dates:

 

(i)                                     The expiration date determined pursuant to Subsection (e) above; or

 

(ii)                                  The date 12 months after the Optionee’s death, or such earlier or later date as the Board of Directors may determine (but in no event earlier than six months after the Optionee’s death).

 

All or part of the Optionee’s Options may be exercised at any time before the expiration of such Options under the preceding sentence by the executors or administrators of the Optionee’s estate or by any person who has acquired such Options directly from the Optionee by beneficiary designation, bequest or inheritance, but only to the extent that such Options had become exercisable before the Optionee’s death (or became exercisable as a result of the death) and the underlying Shares had vested before the Optionee’s death (or vested as a result of the Optionee’s death).  The balance of such Options shall lapse when the Optionee dies.

 

(i)                                    Pre-Exercise Restrictions on Transfer of Options or Shares.  An Option shall be transferable by the Optionee only by (i) a beneficiary designation, (ii) a will or (iii) the laws of descent and distribution, except as provided in the next sentence.  If the applicable Share Option Agreement so provides, a Nonstatutory Option shall also be transferable by gift or domestic relations order to a Family Member of the Optionee.  An ISO may be exercised during the lifetime of the Optionee only by the Optionee or by the Optionee’s guardian or legal representative.  In addition, an Option shall comply with all conditions of Rule 12h-1(f)(1) under the Exchange Act until the Company becomes subject to the reporting requirements of Section 13 or 15(d) of the Exchange Act.  Such conditions include, without limitation, the transferability restrictions set forth in Rule 12h-1(f)(1)(iv) and (v) under the Exchange Act, which shall apply to an Option and, prior to exercise, to the Shares to be issued upon exercise of such Option during the period commencing on the Date of Grant and ending on the earlier of (i) the date when the Company becomes subject to the reporting requirements of Section 13 or 15(d) of the Exchange Act or (ii) the date when the Company makes a determination that it will cease to rely on the exemption afforded by Rule 12h-1(f)(1) under the Exchange Act.  During such period, an Option and, prior to exercise, the Shares to be issued upon exercise of such Option shall be restricted as to any pledge, hypothecation or other transfer by the Optionee, including any short position, any “put equivalent position” (as defined in Rule 16a-1(h) under the Exchange Act) or any “call equivalent position” (as defined in Rule 16a-1(b) under the Exchange Act).

 

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(j)                                    No Rights as a Shareholder.  An Optionee, or a transferee of an Optionee, shall have no rights as a shareholder with respect to any Shares covered by the Optionee’s Option until such person becomes entitled to receive such Shares by filing a notice of exercise and paying the Exercise Price pursuant to the terms of such Option.

 

(k)                                 Modification, Extension and Assumption of Options.  Within the limitations of the Plan, the Board of Directors may modify, extend or assume outstanding Options or may accept the cancellation of outstanding Options (whether granted by the Company or another issuer) in return for the grant of new Options or a different type of award for the same or a different number of Shares and at the same or a different Exercise Price (if applicable).  The foregoing notwithstanding, no modification of an Option shall, without the consent of the Optionee, impair the Optionee’s rights or increase the Optionee’s obligations under such Option.

 

(l)                                    Company’s Right to Cancel Certain Options.  Any other provision of the Plan or a Share Option Agreement notwithstanding, the Company shall have the right at any time to cancel an Option that was not granted in compliance with Rule 701 under the Securities Act.  Prior to canceling such Option, the Company shall give the Optionee not less than 30 days’ notice in writing.  If the Company elects to cancel such Option, it shall deliver to the Optionee consideration with an aggregate Fair Market Value equal to the excess of (i) the Fair Market Value of the Shares subject to such Option as of the time of the cancellation over (ii) the Exercise Price of such Option.  The consideration may be delivered in the form of cash or cash equivalents, in the form of Shares, or a combination of both.  If the consideration would be a negative amount, such Option may be cancelled without the delivery of any consideration.

 

SECTION 7.                                   PAYMENT FOR SHARES.

 

(a)                                 General Rule.  The entire Purchase Price or Exercise Price of Shares issued under the Plan shall be payable in cash or cash equivalents at the time when such Shares are purchased, except as otherwise provided in this Section 7.  In addition, the Board of Directors in its sole discretion may also permit payment through any of the methods described in (b) through (g) below:

 

(b)                                 Services Rendered.  Shares may be awarded under the Plan in consideration of services rendered to the Company, a Parent or a Subsidiary prior to the award provided that no Share is issued for less than its par value paid in cash to the Company.

 

(c)                                  Promissory Note.  All or a portion of the Purchase Price or Exercise Price (as the case may be) of Shares issued under the Plan may be paid with a full-recourse promissory note.  The Shares shall be pledged as security for payment of the principal amount of the promissory note and interest thereon.  The interest rate payable under the terms of the promissory note shall not be less than the minimum rate (if any) required to avoid the imputation of additional interest under the Code.  Subject to the foregoing, the Board of Directors (at its sole discretion) shall specify the term, interest rate, amortization requirements (if any) and other provisions of such note.

 

(d)                                 Surrender of Shares.  All or any part of the Exercise Price may be paid by surrendering, or attesting to the ownership of, Shares that are already owned by the Optionee. Such Shares shall be surrendered to the Company in good form for transfer and shall be valued at their Fair Market Value as of the date when the Option is exercised.

 

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(e)                                  Exercise/Sale.  If the Shares are publicly traded, all or part of the Exercise Price and any withholding taxes may be paid by the delivery (on a form prescribed by the Company) of an irrevocable direction to a securities broker approved by the Company to sell Shares and to deliver all or part of the sales proceeds to the Company.

 

(f)                                   Net Exercise.  An Option may permit exercise through a “net exercise” arrangement pursuant to which the Company will reduce the number of Shares issued upon exercise by the largest whole number of Shares having an aggregate Fair Market Value (determined by the Board of Directors as of the exercise date) that does not exceed the aggregate Exercise Price or the sum of the aggregate Exercise Price plus all or a portion of the minimum amount required to be withheld under applicable tax law (with the Company accepting from the Optionee payment of cash or cash equivalents to satisfy any remaining balance of the aggregate Exercise Price and, if applicable, any additional withholding obligation not satisfied through such reduction in Shares); provided that to the extent Shares subject to an Option are withheld in this manner, the number of Shares subject to the Option following the net exercise will be reduced by the sum of the number of Shares withheld and the number of Shares delivered to the Optionee as a result of the exercise.

 

(g)                                 Other Forms of Payment.  To the extent that an Award Agreement so provides, the Purchase Price or Exercise Price of Shares issued under the Plan may be paid in any other form permitted by applicable laws.

 

SECTION 8.                                   TERMS AND CONDITIONS OF RESTRICTED SHARE UNITS.

 

(a)                                 Restricted Share Unit Award Agreement

 

Each Restricted Share Unit Award under the Plan shall be evidenced by a Restricted Share Unit Award Agreement between the Grantee and the Company. The Restricted Share Unit Award shall be subject to all applicable terms and conditions of the Plan and may be subject to any other terms and conditions that are not inconsistent with the Plan and that the Board of Directors deems appropriate for inclusion in a Restricted Share Unit Award Agreement. The provisions of the various Restricted Share Unit Award Agreements entered into under the Plan need not be identical.

 

(b)                                 Number of Shares

 

Each Restricted Share Unit Award Agreement shall specify the number of Shares that are subject to the Restricted Share Unit Award and shall provide for the adjustment of such number in accordance with Section 9.

 

(c)                                  Vesting Conditions

 

Each Restricted Share Unit Award may or may not be subject to vesting, as determined by the Board of Directors in its sole discretion.  Vesting shall occur, in full or in installments, upon satisfaction of the conditions specified in the Restricted Share Unit Award Agreement.  A Restricted Share Unit Award Agreement may provide for accelerated vesting upon certain specified events.

 

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(d)                                 Voting Rights

 

The holders of Restricted Share Unit Awards shall have no voting rights.

 

(e)                                  Settlement of Restricted Share Unit Awards

 

Settlement of any vested Restricted Share Unit Award may be made in the form of (a) Shares, (b) cash or (c) any combination of both, as determined by the Board of Directors in its sole discretion.  The actual number of Restricted Share Units eligible for settlement may be larger or smaller than the number included in the original Restricted Share Unit Award, based on predetermined performance factors.  Methods of converting Restricted Share Units into cash may include (without limitation) a method based on the average Fair Market Value of a Share over a series of trading days.  Vested Restricted Share Units shall be settled in such manner and at such time(s) as specified in the Restricted Share Unit Award Agreement.  Until a Restricted Share Unit Award is settled, the number of such Restricted Share Units shall be subject to adjustment pursuant to Section 9.

 

(f)                                   Modification or Assumption of Restricted Share Units

 

Within the limitations of the Plan, the Board of Directors may modify or assume outstanding Restricted Share Units or may accept the cancellation of outstanding Restricted Share Units (whether granted by the Company or by another issuer) in return for the grant of new Restricted Share Units for the same or a different number of Shares or in return for the grant of a different type of Award.

 

SECTION 9.                                   ADJUSTMENT OF SHARES.

 

(a)                                 General.  In the event of a subdivision of the outstanding Shares, a declaration of a dividend payable in Shares, a combination or consolidation of the outstanding Shares into a lesser number of Shares, a reclassification, or any other increase or decrease in the number of issued Shares effected without receipt of consideration by the Company, proportionate adjustments shall automatically be made in each of (i) the number and kind of Shares available for future grants under Section 4, (ii) the number and kind of Shares covered by each outstanding Option and any outstanding and unexercised right to purchase Shares that has not yet expired pursuant to Section 5(b), (iii) the Exercise Price under each outstanding Option and the Purchase Price applicable to any unexercised share purchase right described in clause (ii) above, (iv) the number and kind of Shares covered by each outstanding Restricted Share Unit that has not yet expired and (v) any repurchase price that applies to Shares granted under the Plan pursuant to the terms of a Company repurchase right under the applicable Award Agreement.  In the event of a declaration of an extraordinary dividend payable in a form other than Shares in an amount that has a material effect on the Fair Market Value of the Shares, a recapitalization, a spin-off, or a similar occurrence, the Board of Directors at its sole discretion may make appropriate adjustments in one or more of the items listed in clauses (i) through (iv) above.  No fractional Shares shall be issued under the Plan as a result of an adjustment under this Section 9(a), although the Board of Directors in its sole discretion may make a cash payment in lieu of fractional Shares.

 

(b)                                 Corporate Transactions.  In the event that the Company is a party to a merger or consolidation, or in the event of a sale of all or substantially all of the Company’s shares or assets, all Shares acquired under the Plan and all Options and other Plan awards outstanding on the effective date of the transaction shall be treated in the manner described in the definitive transaction agreement (or, in the event the transaction does not entail a definitive agreement to which the Company is party, in the manner determined by the Board of Directors in its capacity as administrator of the Plan, with such determination having final and binding effect on all parties), which agreement or determination need not treat all Options and awards (or all portions of an Option or an award) in an identical manner. The treatment specified in the transaction agreement may include (without limitation) one or more of the following with respect to each outstanding Option or award:

 

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(i)                                     Continuation of the Option or award by the Company (if the Company is the surviving company).

 

(ii)                                  Assumption of the Option by the surviving company or its parent in a manner that complies with Code Section 424(a) (whether or not the Option is an ISO) and applicable foreign exchange and tax requirements.

 

(iii)                               Substitution by the surviving company or its parent of a new option for the Option in a manner that complies with Code Section 424(a) (whether or not the Option is an ISO) and applicable foreign exchange and tax requirements.

 

(iv)                              Cancellation of the Option and a payment to the Optionee with respect to each Share subject to the portion of the Option that is vested as of the transaction date equal to the excess of (A) the value, as determined by the Board of Directors in its absolute discretion, of the property (including cash) received by the holder of a Share as a result of the transaction, over (B) the per-Share Exercise Price of the Option (such excess, the “Spread”).  Such payment shall be made in the form of cash, cash equivalents, or securities of the surviving company or its parent having a value equal to the Spread.  In addition, any escrow, holdback, earn-out or similar provisions in the transaction agreement may apply to such payment to the same extent and in the same manner as such provisions apply to the holders of Shares.  If the Spread applicable to an Option is zero or a negative number, then the Option may be cancelled without making a payment to the Optionee.

 

(v)                                 Cancellation of the Option without the payment of any consideration; provided that the Optionee shall be notified of such treatment and given an opportunity to exercise the Option (to the extent the Option is vested or becomes vested as of the effective date of the transaction) during a period of not less than five (5) business days preceding the effective date of the transaction, unless (A) a shorter period is required to permit a timely closing of the transaction and (B) such shorter period still offers the Optionee a reasonable opportunity to exercise the Option.  Any exercise of the Option during such period may be contingent upon the closing of the transaction.

 

(vi)                              Suspension of the Optionee’s right to exercise the Option during a limited period of time preceding the closing of the transaction if such suspension is administratively necessary to permit the closing of the transaction.

 

(vii)                           Termination of any right the Optionee has to exercise the Option prior to vesting in the Shares subject to the Option (i.e., “early exercise”), such that following the closing of the transaction the Option may only be exercised to the extent it is vested.

 

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For the avoidance of doubt, the Board of Directors has discretion to accelerate, in whole or part, the vesting and exercisability of an Option or other Plan award, including the vesting and settlement of a Restricted Share Unit Award in connection with a corporate transaction covered by this Section 9(b).

 

(c)                                  Reservation of Rights.  Except as provided in this Section 9, a Participant shall have no rights by reason of (i) any subdivision or consolidation of shares of any class, (ii) the payment of any dividend or (iii) any other increase or decrease in the number of shares of any class.  Any issuance by the Company of shares of any class, or securities convertible into shares of any class, shall not affect, and no adjustment by reason thereof shall be made with respect to, the number or Exercise Price of Shares subject to an Option.  The grant of an Option pursuant to the Plan shall not affect in any way the right or power of the Company to make adjustments, reclassifications, reorganizations or changes of its capital or business structure, to merge or consolidate or to dissolve, liquidate, sell or transfer all or any part of its business or assets.

 

SECTION 10.                            PRE-EXERCISE INFORMATION REQUIREMENT.

 

(a)                                 Application of Requirement.  This Section 10 shall apply only during a period that (i) commences when the Company begins to rely on the exemption described in Rule 12h-1(f)(1) under the Exchange Act, as determined by the Company in its sole discretion, and (ii) ends on the earlier of (A) the date when the Company ceases to rely on such exemption, as determined by the Company in its sole discretion, or (B) the date when the Company becomes subject to the reporting requirements of Section 13 or 15(d) of the Exchange Act.  In addition, this Section 10 shall in no event apply to an Optionee after he or she has fully exercised all of his or her Options.

 

(b)                                 Scope of Requirement.  The Company shall provide to each Optionee the information described in Rule 701(e)(3), (4) and (5) under the Securities Act.  Such information shall be provided at six-month intervals, and the financial statements included in such information shall not be more than 180 days old.  The foregoing notwithstanding, the Company shall not be required to provide such information unless the Optionee has agreed in writing, on a form prescribed by the Company, to keep such information confidential.

 

SECTION 11.                            MISCELLANEOUS PROVISIONS.

 

(a)                                 Securities Law Requirements.  Shares shall not be issued under the Plan unless, in the opinion of counsel acceptable to the Board of Directors, the issuance and delivery of such Shares comply with (or are exempt from) all applicable requirements of law, including (without limitation) the Securities Act, the rules and regulations promulgated thereunder, state securities laws and regulations, and the regulations of any exchange or other securities market on which the Company’s securities may then be traded.  The Company shall not be liable for a failure to issue Shares as a result of such requirements.

 

(b)                                 No Retention Rights.  Nothing in the Plan or in any right or Option granted under the Plan shall confer upon the Participant any right to continue in Service for any period of specific duration or interfere with or otherwise restrict in any way the rights of the Company (or any Parent or Subsidiary employing or retaining the Participant) or of the Participant, which rights are hereby expressly reserved by each, to terminate his or her Service at any time and for any reason, with or without cause.

 

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(c)                                  Treatment as Compensation.  Any compensation that an individual earns or is deemed to earn under this Plan shall not be considered a part of his or her compensation for purposes of calculating contributions, accruals or benefits under any other plan or program that is maintained or funded by the Company, a Parent or a Subsidiary.

 

(d)                                 Governing Law.  The Plan and all awards, sales and grants under the Plan shall be governed by, and construed in accordance with, the laws of the Cayman Islands, as such laws are applied to contracts entered into and performed in such jurisdiction.

 

(e)                                  Conditions and Restrictions on Shares.  Shares issued under the Plan shall be subject to such forfeiture conditions, rights of repurchase, rights of first refusal, other transfer restrictions and such other terms and conditions as the Board of Directors may determine.  Such conditions and restrictions shall be set forth in the applicable Award Agreement and shall apply in addition to any restrictions that may apply to holders of Shares generally.  In addition, Shares issued under the Plan shall be subject to conditions and restrictions imposed either by applicable law or by Company policy, as adopted from time to time, designed to ensure compliance with applicable law or laws with which the Company determines in its sole discretion to comply including in order to maintain any statutory, regulatory or tax advantage.

 

(f)                                   Tax Matters.

 

(i)                                      As a condition to the award, grant, issuance, vesting, purchase, exercise or transfer of any award, or Shares issued pursuant to any award, granted under this Plan, the Participant shall make such arrangements as the Board of Directors may require or permit for the satisfaction of any federal, state, local or foreign withholding tax obligations that may arise in connection with such event.

 

(ii)                                  Unless otherwise expressly set forth in an Award Agreement, it is intended that awards granted under the Plan shall be exempt from Code Section 409A, and any ambiguity in the terms of an Award Agreement and the Plan shall be interpreted consistently with this intent.   To the extent an award is not exempt from Code Section 409A (any such award, a “409A Award”), any ambiguity in the terms of such award and the Plan shall be interpreted in a manner that to the maximum extent permissible supports the award’s compliance with the requirements of that statute.  Notwithstanding anything to the contrary permitted under the Plan, in no event shall a modification of an Award not already subject to Code Section 409A be given effect if such modification would cause the Award to become subject to Code Section 409A unless the parties explicitly acknowledge and consent to the modification as one having that effect. A 409A Award shall be subject to such additional rules and requirements as specified by the Board of Directors from time to time in order for it to comply with the requirements of Code Section 409A.  In this regard, if any amount under a 409A Award is payable upon a “separation from service” to an individual who is considered a “specified employee” (as each term is defined under Code Section 409A), then no such payment shall be made prior to the date that is the earlier of (i) six months and one day after the Participant’s separation from service or (ii) the Participant’s death, but only to the extent such delay is necessary to prevent such payment from being subject to Section 409A(a)(1).  In addition, if a transaction subject to Section 8(b) constitutes a payment event with respect to any 409A Award, then the transaction with respect to such award must also constitute a “change in control event” as defined in Treasury Regulation Section 1.409A-3(i)(5) to the extent required by Code Section 409A.

 

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(iii)                               Neither the Company nor any member of the Board of Directors shall have any liability to a Participant in the event an award held by the Participant fails to achieve its intended characterization under applicable tax law, or any payment cannot be made or is otherwise delayed due to applicable foreign exchange restrictions.

 

(g)                                 Languages.

 

In case of any inconsistency between Chinese and English in this Plan, the English version shall prevail.

 

SECTION 12.                            DURATION AND AMENDMENTS; SHAREHOLDER APPROVAL.

 

(a)                                 Term of the Plan.  The Plan, as set forth herein, shall become effective on the date of its adoption by the Board of Directors, subject to approval of the Company’s shareholders under Subsection (d) below.  The Plan shall terminate automatically 10 years after the later of (i) the date when the Board of Directors adopted the Plan or (ii) the date when the Board of Directors approved the most recent increase in the number of Shares reserved under Section 4 that was also approved by the Company’s shareholders.  The Plan may be terminated on any earlier date pursuant to Subsection (b) below.

 

(b)                                 Right to Amend or Terminate the Plan.  Subject to Subsection (d) below, the Board of Directors may amend, suspend or terminate the Plan at any time and for any reason.

 

(c)                                  Effect of Amendment or Termination.  No Shares shall be issued or sold and no Option or Restricted Share Unit Award shall be granted under the Plan after the termination thereof, except upon exercise of an Option (or any other right to purchase Shares) granted under the Plan prior to such termination.  The termination of the Plan, or any amendment thereof, shall not affect any Share or Restricted Share Unit Award previously issued or any Option previously granted under the Plan.

 

(d)                                 Shareholder Approval.  To the extent required by applicable law, the Plan will be subject to approval of the Company’s shareholders within 12 months of its adoption date.  To the extent required by applicable law, any amendment of the Plan will be subject to the approval of the Company’s shareholders within 12 months of the amendment date if it (i) increases the number of Shares available for issuance under the Plan (except as provided in Section 8), or (ii) materially changes the class of persons who are eligible for the grant of ISOs.  In addition, an amendment effecting any other material change to the Plan terms will be subject to approval of the Company’s shareholder only if required by applicable law.  Shareholder approval shall not be required for any other amendment of the Plan.

 

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SECTION 13.                            DEFINITIONS.

 

(a)                                 “Award” means individually or collectively, a grant under the Plan of Options, Restricted Share Units or any other award to acquire Shares made under the Plan.

 

(b)                                 “Award Agreement” means a Share Grant Agreement, Restricted Share Unit Award Agreement, Share Option Agreement or Share Purchase Agreement.

 

(c)                                  “Board of Directors” means the Board of Directors of the Company, as constituted from time to time.

 

(d)                                 “Code” means the U.S. Internal Revenue Code of 1986, as amended.

 

(e)                                  “Committee” means a committee of the Board of Directors, as described in Section 2(a).

 

(f)                                   “Company” means CloudMinds Inc., a Cayman Islands company.

 

(g)                                  “Consultant” means a person, excluding Employees and Outside Directors, who performs bona fide services for the Company, a Parent or a Subsidiary as a consultant or advisor and who qualifies as a consultant or advisor under Rule 701(c)(1) of the Securities Act or under Instruction A.1.(a)(1) of Form S-8 under the Securities Act.

 

(h)                                 “Date of Grant” means the date of grant specified in the applicable Share Option Agreement, which date shall be the later of (i) the date on which the Board of Directors resolved to grant the Option or (ii) the first day of the Optionee’s Service.

 

(i)                                     “Disability” means that the Optionee is unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment.

 

(j)                                    “Employee” means any individual who is a common-law employee of the Company, a Parent or a Subsidiary.

 

(k)                                 “Exchange Act” means the U.S. Securities Exchange Act of 1934, as amended.

 

(l)                                     “Exercise Price” means the amount for which one Share may be purchased upon exercise of an Option, as specified by the Board of Directors in the applicable Share Option Agreement.

 

(m)                             “Fair Market Value” means the fair market value of a Share, as determined by the Board of Directors in good faith.  Such determination shall be conclusive and binding on all persons.

 

(n)                                 “Family Member” means (i) any child, stepchild, grandchild, parent, stepparent, grandparent, spouse, former spouse, sibling, niece, nephew, mother-in-law, father-in-law, son-in-law, daughter-in-law, brother-in-law or sister-in-law, including adoptive relationships, (ii) any person sharing the Optionee’s household (other than a tenant or employee), (iii) a trust in which persons described in Clause (i) or (ii) have more than 50% of the beneficial interest, (iv) a foundation in which persons described in Clause (i) or (ii) or the Optionee control the management of assets and (v) any other entity in which persons described in Clause (i) or (ii) or the Optionee own more than 50% of the voting interests.

 

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(o)                                 “Grantee” means a person to whom the Board of Directors has awarded Shares under the Plan, including through the grant of a Restricted Share Unit Award.

 

(p)                                 “IPO” shall mean the first firm commitment underwritten public offering pursuant to an effective registration statement on an established national or foreign securities exchange covering the offer and sale by the Company of its equity securities, as a result of or following which the Shares shall be publicly held, and “IPO Date” shall mean the date on which the IPO occurs.

 

(q)                                 “ISO” means an Option that qualifies as an incentive stock option as described in Code Section 422(b).  Notwithstanding its designation as an ISO, an Option that does not qualify as an ISO under applicable law shall be treated for all purposes as a Nonstatutory Option.

 

(r)                                    “Nonstatutory Option” means an Option that does not qualify as an incentive stock option as described in Code Section 422(b) or 423(b).

 

(s)                                   “Option” means an ISO or Nonstatutory Option granted under the Plan and entitling the holder to purchase Shares.

 

(t)                                    “Optionee” means a person who holds an Option.

 

(u)                                 “Outside Director” means a member of the Board of Directors who is not an Employee.

 

(v)                                 “Parent” means any corporation (other than the Company) in an unbroken chain of corporations ending with the Company, if each of the corporations other than the Company owns stock possessing 50% or more of the total combined voting power of all classes of stock in one of the other corporations in such chain.  A corporation that attains the status of a Parent on a date after the adoption of the Plan shall be considered a Parent commencing as of such date.

 

(w)                               “Participant” means a Grantee, Optionee or Purchaser.

 

(x)                                 “Plan” means this CloudMinds Inc. 2016 Share Plan.

 

(y)                                 “Purchase Price” means the consideration for which one Share may be acquired under the Plan (other than upon exercise of an Option), as specified by the Board of Directors.

 

(z)                                  “Purchaser” means a person to whom the Board of Directors has offered the right to purchase Shares under the Plan (other than upon exercise of an Option).

 

(aa)                          “Restricted Share Unit” means a bookkeeping entry representing the equivalent of one Share, granted pursuant to Section 8.

 

(bb)                          “Restricted Share Unit Award” means an award of Restricted Share Units.

 

(cc)                            “Restricted Share Unit Award Agreement” means the agreement between the Company and a Grantee that contains the terms, conditions and restrictions pertaining to the Grantee’s Restricted Share Unit Award.

 

(dd)                          “Sale Event” means the consummation of the following transactions in which holders of Shares receive cash or marketable securities tradable on an established national or foreign securities exchange: (i) a sale of all or substantially all of the assets of the Company determined on a consolidated basis to an unrelated person or entity; (ii) a merger, reorganization, or consolidation involving the Company in which the shares of voting share of the Company outstanding immediately prior to such transaction represent or are converted into or exchanged for securities of the surviving or resulting entity immediately upon completion of such transaction which represent less than 50% of the outstanding voting power of such surviving or resulting entity; or (iii) the acquisition of all or a majority of the outstanding voting share of the Company in a single transaction or series of related transactions by a person or group of persons.  For the avoidance of doubt, an initial public offering, any subsequent public offering, another capital raising event, and a merger effected solely to change the Company’s domicile shall not constitute a “Sale Event.”  In addition, a transaction shall not constitute a Sale Event unless such transaction also qualifies as an event under Treasury Regulation Section 1.409A-3(i)(5)(v) (change in the ownership of a corporation), Treasury Regulation Section 1.409A-3(i)(5)(vi) (change in the effective control of a corporation), or Treasury Regulation Section 1.409A-3(i)(5)(vii) (change in the ownership of a substantial portion of a corporation’s assets).

 

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(ee)                            “Securities Act” means the U.S. Securities Act of 1933, as amended.

 

(ff)                              “Service” means service as an Employee, Outside Director or Consultant.

 

(gg)                            “Share” means one ordinary share of the Company, as adjusted in accordance with Section 9 (if applicable).

 

(hh)                          “Share Grant Agreement” means the agreement between the Company and a Grantee who is awarded Shares under the Plan that contains the terms, conditions and restrictions pertaining to the award of such Shares.

 

(ii)                                  “Share Option Agreement” means the agreement between the Company and an Optionee that contains the terms, conditions and restrictions pertaining to the Optionee’s Option.

 

(jj)                                “Share Purchase Agreement” means the agreement between the Company and a Purchaser who purchases Shares under the Plan that contains the terms, conditions and restrictions pertaining to the purchase of such Shares.

 

(kk)                          “Subsidiary” means any corporation (other than the Company) in an unbroken chain of corporations beginning with the Company, if each of the corporations other than the last corporation in the unbroken chain owns stock possessing 50% or more of the total combined voting power of all classes of stock in one of the other corporations in such chain, or (ii) any corporation whose assets, or portions thereof, are consolidated with the net earnings of the subject entity and are recorded on the books of the subject entity for financial reporting purposes in accordance with IFRS and/or PRC GAAP or any internationally recognized accounting standard; or (iii) any corporation with respect to which the subject entity has the power to otherwise direct the business and policies of that entity directly or indirectly through another subsidiary.  A corporation that attains the status of a Subsidiary on a date after the adoption of the Plan shall be considered a Subsidiary commencing as of such date.

 

E-14

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