Document:

English Translation of Proxy Agreement, dated as of December 31, 2009

 Exhibit 10.6 
 English Translation 
 Proxy Agreement 

Among 
 Zeng
Liqing, Wang Bin, Wang Haibing, Cheng Yunpeng, Wei Zhen and Feng Yuliang 
 Shanghai Shengran Information Technology Co., Ltd.

 and 

Shanghai Taomee Network Technology Co., Ltd. 
 December 31, 2009, Shanghai 

  
 1 

 Proxy Agreement 
 THIS PROXY AGREEMENT (“this Agreement”) was entered into by and among the following parties on December 31, 2009: 

 

	(1)	Zeng Liqing, ID card No. 610113197001232130; 

  

	(2)	Wang Haibing, ID card No. 342623198009143416; 

  

	(3)	Wei Zhen, ID card No. 652421197504283170; 

  

	(4)	Cheng Yunpeng, ID card No. 230103197705216813; 

  

	(5)	Wang Bin, ID card No. 510502196504290433; 

  

	(6)	Feng Yuliang, ID card No. 230107196712111551; 

The above (1)-(6) are collectively referred to as “Entrusting Persons”, among which the above (1)-(5) are collectively referred to as
“Original Entrusting Persons” 
  

	(7)	Shanghai Shengran Information Technology Co., Ltd. (“Shengran”), a wholly foreign-owned enterprise incorporated and existing under Chinese laws (
“Entrusted Person”), and its registered address is Room 2201, Building 20, Gem Tower, 487 Tianlin Road, Xuhui District, Shanghai; 

  

	(8)	Shanghai Taomee Network Technology Co., Ltd. (“Taomee”), a domestic limited liability company incorporated and existing under Chinese laws, and its registered
address is Room 1008 -1009, Building 20, Gem Tower, 487 Tianlin Road, Xuhui District, Shanghai. 

 The Entrusting Persons, the
Entrusted Person and Taomee are collectively referred to as the “Parties”. 
 WHEREAS: 

 

	1.	The Entrusted Person and the Original Entrusting Persons have signed a Proxy Agreement ( “the Original Proxy Agreement”); 

 

	2.	Wang Haibing, Cheng Yunpeng, Wei Zhen, Wang Bin and Feng Yuliang have entered into an equity interest transfer agreement, pursuant to which Wang Haibing, Cheng Yunpeng,
Wei Zhen and Wang Bin shall transfer to Feng Yuliang the equity interests held by them which in total represent 5.00% of Taomee’s equity interest. Following such equity transfer, the shareholders of Taomee are Zeng Liqing, Wang Haibing, Cheng
Yunpeng, Wei Zhen, Wang Bin and Feng Yuliang, all of whom jointly hold a total of 100% of equity interest in the entire registered capital of Taomee (“Equity Interest”). Their respective shareholding percentages are as follows:

  

									
	 Name
	  	Amount of Contribution (RMB)	 	  	Shareholding
Percentage	 
			
	 Wang Haibing
	  	 	2,375,000	  	  	 	23.75	% 
			
	 Cheng Yunpeng
	  	 	1,575,000	  	  	 	15.75	% 
			
	 Wei Zhen
	  	 	1,737,500	  	  	 	17.375	% 
			
	 Wang Bin
	  	 	812,500	  	  	 	8.125	% 
			
	 Zeng Liqing
	  	 	3,000,000	  	  	 	30.00	% 
			
	 Feng Yuliang
	  	 	500,000	  	  	 	5.00	% 
		  	 	 	 	  	 	 	 
			
	 Total
	  	 	10,000,000	  	  	 	100	% 
		  	 	 	 	  	 	 	 

  
 2 

	3.	The Original Entrusting Persons, the Entrusted Person and Taomee have established business relationships by signing a loan agreement, and the Entrusting Persons, the
Entrusted Person and Taomee have also established business relationships by re-signing the exclusive technical and marketing services agreement, the equity interest pledge agreement, the option agreement and the business operation agreement (the
foregoing loan agreement and the re-signed exclusive technical and marketing services agreement, equity interest pledge agreement, option agreement and business operation agreement are collectively referred to as the “New Restructuring
Agreements”); since Taomee shall pay various sums to the Entrusted Person pursuant to such agreements, Taomee’s daily operating activities will be of material influence on its ability to pay corresponding sums to the Entrusted Person;

  

	4.	As the consideration of the Entrusted Person’s obligations under the New Restructuring Agreements, the Entrusting Persons hereby respectively agree to grant the
Entrusted Person an irrevocable power of attorney (“Power of Attorney”) to enable the Entrusted Person to vote by using all the voting shares (hereinafter “Shares”) of the Entrusting Persons in the company within the term of this
Agreement; 

  

	5.	Taomee acknowledges the rights and obligations of the Entrusting Persons and the Entrusted Person as set forth herein, and will assist in the enforcement of the Power
of Attorney herein. 

 NOW, THEREFORE, It is hereby agreed as follows: 
 1. Entrustment of Shareholder Voting Rights and Other Rights 
 1.1 According to the
conditions and terms of this Agreement, the Entrusting Persons hereby severally and jointly commission and authorize the Entrusted Person to exercise the shareholders’ voting rights, management rights and other rights of the Entrusting Persons
upon Taomee on their behalf. The powers and rights of the Entrusted Person under the foregoing entrustment include but are not limited to the following: 
 (1) to exercise the voting rights of the Entrusting Persons as the shareholders of Taomee; 

  
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 (2) to exercise the business management rights in Taomee on behalf of the Entrusting Persons; and

 (3) to exercise all the other rights of the shareholders as specified in the Articles of Association of Taomee on behalf of the Entrusting
Persons. 
 1.2 In order to enable the Entrusted Person to effectively enforce and exercise the rights and powers granted to the Entrusted
Person pursuant to Article 1.1, the Entrusting Persons acknowledge and consent that, if the Entrusting Persons are required by any laws, regulations or any government entities to present special power of attorney or similar documents or to go
through relevant procedures (e.g. the notarization of the Power of Attorney) with respect to a certain specific entrusted matter, the Entrusting Persons shall immediately present such power of attorney according to such requirement. 

1.3 The Entrusting Persons hereby acknowledge and confirm that, upon written request of the Entrusted Person, the Entrusting Persons shall assign such
persons as are designated by the Entrusted Person to hold the positions as the legal representative and/or directors or other managerial positions of Shanghai Taomee Network Technology Co., Ltd. 

1.4 The Entrusting Persons hereby agree and acknowledge that: by sending a written notice to the Entrusting Persons, the Entrusted Person shall have the
right to delegate the powers and rights granted to it under Article 1.1 hereinabove to its own senior management personnel; upon receipt of the foregoing written notice from the Entrusted Person and when necessary, the Entrusting Persons shall issue
a power of attorney to such senior management personnel designated by the Entrusted Person as required in the written notice by the Entrusted Person, and shall grant such personnel the same powers and rights. However, the Entrusted Person shall be
entitled to require the Entrusting Persons to cancel the such authorization of such senior management personnel by giving a written notice to the Entrusting Persons; upon receipt of such written notice from the Entrusted Person, the Entrusting
Persons shall immediately cancel the authorization of such senior management personnel according to the requirements in the written notice by the Entrusted Person. 
 2. Representations and Warranties 
 Taomee together with the Entrusting
Persons hereby jointly and severally represent and warrant to the Entrusted Person as follows: 
  

	 	(1)	The Entrusting Persons are the sole, true and legally registered and beneficiary owners of such Shares, and their voting rights or right of disposal regarding such
Shares are free from any restrictions; their Shares are not subject to any voting trust or other agreements or arrangements in respect of voting of such Shares; their Shares are free of any encumbrance or other transfer restriction, except as
otherwise set forth herein; 

  
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	 	(2)	The Entrusting Persons have all the rights and abilities required to enter into this Agreement and to perform their obligations and responsibilities hereunder;

  

	 	(3)	The obligations and responsibilities borne by the Entrusting Persons hereunder are legal, valid and binding, and are enforceable in accordance with the terms hereof;

  

	 	(4)	All actions required to be taken, satisfied or conducted, and all conditions and matters (including obtaining any necessary consent, approval and authorization, if so
required by law) have been taken, satisfied or conducted (as the case may be) to the extent possible and permitted by law, and all such consent, approval and authorization are in full force and effect, so as to: 

 

	 	(i)	enable the Entrusting Persons to legally enter into this Agreement, exercise their rights hereunder, and perform and comply with the obligations and responsibilities
they assume hereunder; 

  

	 	(ii)	ensure that the obligations and responsibilities assumed by the Entrusting Persons hereunder are legal, valid and binding; and 

 

	 	(iii)	render this Agreement admissible as acceptable evidence in any relevant jurisdiction; 

 

	 	(5)	The conclusion of this Agreement, the exercise of the rights hereunder, the performance of and compliance with the obligations and responsibilities hereunder by the
Entrusting Persons do not violate or contravene the following, nor exceed any power or restriction granted or imposed by the following: 

  

	 	(i)	any laws, regulations or rules, any judgment, order or verdict, or any consent, approval or authorization that the Entrusting Persons shall abide by; or

  

	 	(ii)	any provision of the Articles of Association of the Entrusting Persons or of any other applicable document or constitutive document; or 

 

	 	(iii)	the provisions of any agreement or document to which the Entrusting Persons are a party or which the Entrusting Persons or any of their assets are subject to;

  

	 	(6)	All the approvals and authorizations required to be obtained by the Entrusting Persons from any government or other entities (if so required by law) or from any
entrusted person of the Entrusting Persons for the purpose of entering into and performing this Agreement and rendering this Agreement legal and valid have already been obtained and remain in full force and effect. 

  
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 3. Waiver and Severability 
 No failure or delay by the Entrusted Person in exercising any right, power or remedy hereunder shall be of prejudice to such right, power or remedy, nor shall such failure or delay be regarded as a waiver
thereof. No single or partial exercise of such right, power or remedy shall preclude any further exercise of such right, power or remedy or the exercise of any other right, power or remedy. Should any provision of this Agreement at any time and in
any respect be held illegal, invalid or unenforceable pursuant to the laws of any jurisdiction, the legality, validity and enforceability of such provision under the laws of any other jurisdiction as well as the legality, validity and enforceability
of the remaining provisions hereof shall not be affected or impaired. 
 4. Term of Entrustment 

This Agreement is executed and shall be effective on the date first written above. The term of the powers and rights granted to the Entrusted Person
hereunder shall be the same as the term of the New Restructuring Agreements. 
 5. Governing Law 

This Agreement shall be governed by and be interpreted in accordance with Chinese laws. 
 6. Dispute Resolution 
 6.1 Arbitration 

Any conflict, dispute or claim (“Dispute”) arising out of or in connection with this Agreement shall be settled by the Parties hereto in good
faith through negotiation. If such negotiation fails, any party may submit such dispute to China International Economic and Trade Arbitration Commission for arbitration in accordance with the its arbitration rules then in effect. The arbitration
shall take place in Shanghai and shall be conducted in Chinese. The arbitral award shall be final and binding upon the Parties. 
 6.2
Enforcement of the Award 
 The party in whose favor the award is rendered may apply to any court of competent jurisdiction or any other judicial
department of competent jurisdiction for the enforcement of the arbitral award, and all the Parties to whom the award is rendered shall consent to other parties that they will be subject to and act pursuant to the arbitral award. 

7. Termination 
 7.1 Within the term of
this Agreement, unless otherwise specified herein, Taomee or any of the Entrusting Persons may not terminate this Agreement and the Power of Attorney prior to the expiration date of this Agreement, otherwise they shall pay to the Entrusted Person a
penalty for breach in the amount of RMB15 million. The Entrusted Person shall be entitled to terminate this Agreement and the Power of Attorney at any time with a thirty (30) days prior written notice to Taomee and the Entrusting Persons.

  
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 7.2 In no case shall the termination of this Agreement and the Power of Attorney release Taomee or any of
the Entrusting Persons from any liability resulting from any breach of this Agreement prior to such termination. 
 8. Miscellaneous

 8.1 Transfer 
 Without the prior
written consent of the Entrusted Person, no Entrusting Person may assign or transfer all or part of his rights, interests or obligations hereunder. The Entrusted Person may transfer part or all of its rights, interests or obligations hereunder or
under any other voting agreement. Any such transfer shall cover all the rights and obligations of the Entrusted Person hereunder, and the transferee shall be deemed as an original party to this Agreement or any voting agreement. Upon request of the
Entrusted Person, the Entrusting Persons shall execute all the agreements and other documents necessary to the completion of such transfer. 

8.2 Modification 
 Any modification or amendment
to this Agreement shall be made only with Entrusted Person’s written consent. Any modification agreement or supplementary agreement executed by the Parties in connection with this Agreement shall constitute an integral part hereof and shall
have the same legal effect as this Agreement. 
 8.2 Effectiveness 
 This Agreement constitutes the entire agreement between the Parties hereto and supersedes all prior contracts, agreements, understandings or arrangements, whether oral or written, regarding the subject
matter hereof. Such contracts, agreements, understandings or arrangements shall be deemed to have been terminated automatically. The validity of the Original Proxy Agreement shall be immediately terminated as of the date when this Agreement comes
into force. 
 [THE REMAINDER OF THIS PAGE IS INTENTIONALLY LEFT BLANK] 

  
 7 

 SIGNATURE PAGE OF THIS PROXY AGREEMENT 

 

			
	 Zeng Liqing

		
	Signature:	 	 /s/ Zeng Liqing

	
	 Wang Haibing

		
	Signature:	 	 /s/ Wang Haibing

	
	 Wei Zhen

		
	Signature:	 	 /s/ Wei Zhen

	
	 Cheng Yunpeng

		
	Signature:	 	 /s/ Cheng Yunpeng

	
	 Wang Bin

		
	Signature:	 	 /s/ Wang Bin

	
	 Feng Yuliang

		
	Signature:	 	 /s/ Feng Yuliang

 Shanghai Shengran Information Technology Co., Ltd. 
  

			
	Signature and seal:	 	 /s/ Zeng Liqing

	Name of signatory: Zeng Liqing

 [seal: Shanghai Shengran Information Technology Co., Ltd.] 
 Shanghai Taomee Network Technology
Co., Ltd. 
  

			
	Signature and seal:	 	 /s/ Zeng Liqing

	Name of signatory: Zeng Liqing

 [seal: Shanghai Taomee Network Technology Co., Ltd.] 

  
 8 

 Annex 1 
 Irrevocable Power of Attorney 
 I, Column A, a citizen of the
People’s Republic of China (“China”), am a shareholder holding Column B of the entire registered capital (“My Equity Interest”) of Shanghai Taomee Network Technology Co., Ltd. (“Taomee”). In
accordance with this document, I hereby declare that, in order to ensure my performance of the obligations under the Proxy Agreement (“the Agreement”) executed on the same date as this Power of attorney with Shanghai Shengran Information
Technology Co., Ltd. (“Entrusted Person” or “Shengran”) and Taomee, I hereby irrevocably authorize Shengran to exercise the following rights with respect to My Equity Interest within the term of this Power of Attorney:

 I hereby authorize Shengran to serve as my sole agent and entrusted person to handle all the matters in respect of My Equity
Interest on my behalf, including but not limited to: 1) participating the shareholders’ meetings of Taomee; 2) exercising all the shareholder’s rights and voting rights pursuant to Chinese laws and the Articles of Association of Taomee,
including but not limited to selling, transferring, pledging or disposing of part or all of My Equity Interest; and 3) designating and appointing the legal representative, chairman of the board of directors, directors, supervisors, CEO and other
senior management personnel of Taomee on my behalf. 
 Without limiting the generality of the rights granted under this Power of
Attorney, Shengran shall have the rights under this Power of Attorney and the authorized rights to sign the transfer contract specified in the Option Agreement (I am required to be a party thereto) on my behalf, and shall perform the terms of the
Equity Interest Pledge Agreement and Option Agreement to which I am a party that are executed on the same day as this Power of Attorney. 
 All acts of Shengran in connection with My Equity Interest shall be deemed as my own acts, and all documents executed by it shall be deemed to have been executed by myself. I hereby acknowledge and
approve such acts and/or documents of Shengran. 
 Shengran shall have the right to exercise its own discretion to delegate or
transfer to any other person or entity its rights in respect of the above-mentioned matters, without notifying me or obtaining my consent in advance. 
 While I am a shareholder of Taomee, the authorization under this Power of Attorney shall be irrevocable and shall continue to be in effect, commencing from the date when this Power of Attorney is
executed. 
 During the term of this Power of Attorney, I hereby waive all the rights regarding My Equity Interest that have
been granted to Shengran by means of this Power of Attorney, and may not exercise such rights by myself. 

  
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 This Power of Attorney shall be binding upon all my agents, assigns and successors.

  

			
	 Name:
	 	 Column
A

			
		
	 Signature:
	 	 /s/ Column A

	
	 December 31, 2009

  
 10 

							
	 	  	 Column A
	  	Column B	 
	 1
	  	Zeng Liqing	  	 	30.00	% 
	 2
	  	Wang Bin	  	 	8.125	% 
	 3
	  	Wang Haibing	  	 	23.75	% 
	 4
	  	Cheng Yunpeng	  	 	15.75	% 
	 5
	  	Wei Zhen	  	 	17.375	% 
	 6
	  	Feng Yuliang	  	 	5.00	% 

  
 11English Translation of Option Agreement, dated as of December 31, 2009

 Exhibit 10.7 
 English Translation 
 Option Agreement 

between 

Shanghai Shengran Information Technology Co., Ltd. 
 And 
 Zeng Liqing, Wang Bin, Wang Haibing, Cheng Yunpeng, Wei Zhen

 and Feng Yuliang 
 Signed on December 31, 2009 in Shanghai 

  
 1 

 Option Agreement 
 THIS OPTION AGREEMENT (“this Agreement”) is entered into on December 31, 2009 among the following parties (hereinafter referred to as the “Parties”): 

Shanghai Shengran Information Technology Co., Ltd. (hereinafter referred to as the “Obligee”), a wholly foreign-owned enterprise
established under the laws of the People’s Republic of China, with its registered address at Room 1206-1207, Building 20, Gem Tower, 487 Tianlin Road, Xuhui District, Shanghai. 
 And 
 Zeng Liqing, ID Card No.: 610113197001232130 

Wang Haibing, ID Card No.: 342623198009143416 

Wei Zhen, ID Card No.: 652421197504283170 

Cheng Yunpeng, ID Card No.: 230103197705216813 

Wang Bin, ID Card No.: 510502196504290433 

Feng Yuliang, ID Card No.: 230107196712111551 

Zeng Liqing, Wang Haibing, Wei Zhen, Cheng Yunpeng, Wang Bin and Feng Yuliang are hereinafter collectively referred to as the “Obligors”
and Zeng Liqing, Wang Haibing, Wei Zhen, Cheng Yunpeng and Wang Bin are collectively referred to as the “Original Obligors”. 

WHEREAS, 
  

	1.	Shanghai Taomee Network Technology Co., Ltd. (hereinafter referred to as “Shanghai Taomee”) is a limited liability company established within the
territory of the People’s Republic of China; 

  

	2.	The Obligee and the Original Obligors have signed an option agreement (hereinafter referred to as the “Original Option Agreement”);

  
 2 

	3.	Wang Haibing, Wei Zhen, Cheng Yunpeng and Wang Bin have signed an equity transfer agreement with Feng Yuliang. Under the said equity interest transfer agreement, Wang
Haibing, Wei Zhen, Cheng Yunpeng and Wang Bin will transfer to Feng Yuliang the equity interest held by them representing in total 5.00% of the equity interest in Shanghai Taomee. After the equity transfer, the shareholders of Shanghai Taomee are
Zeng Liqing, Wang Haibing, Wei Zhen, Cheng Yunpeng, Wang Bin and Feng Yuliang. The shareholding percentages are as shown in the following table: 

  

									
	 Name
	  	Amount of Contribution (RMB)	 	  	Shareholding Percentage	 
	 Wang Haibing
	  	 	2,375,000	  	  	 	23.75	% 
	 Cheng Yunpeng
	  	 	1,575,000	  	  	 	15.75	% 
	 Wei Zhen
	  	 	1,737,500	  	  	 	17.375	% 
	 Wang Bin
	  	 	812,500	  	  	 	8.125	% 
	 Zeng Liqing
	  	 	3,000,000	  	  	 	30	% 
	 Feng Yuliang
	  	 	500,000	  	  	 	5.00	% 
		  	 	 	 	  	 	 	 
	 Total
	  	 	10,000,000	  	  	 	100	% 
		  	 	 	 	  	 	 	 

  

	4.	The Obligee and the Obligors intend to re-sign an option agreement and, Feng Yuliang, as a new shareholder of Shanghai Taomee, is willing to become a party to this
Agreement and exercises his rights and perform his obligations hereunder; 

 NOW, THEREFORE, the Parties hereto hereby agree as
follows: 
  

	Article 1	Interpretations 

“Business day” refers to any day on which companies and enterprises in China are normally open for business, excluding
statutory holidays and Saturdays and Sundays. 
 “Closing Day”, for the purpose of exercising the option, refers
to the day on which the price specified in Article 2.2 herein is paid. 
  

	Article 2	Option arrangement 

  

	2.1	The Obligors, according to the conditions provided for herein, severally and jointly grant to the Obligee the exclusive option to receive part or all of the shares held
by the Obligors in Shanghai Taomee. Within the extent permitted by Chinese law, the Obligee may exercise this option at any time deemed appropriate thereby. 

  
 3 

	2.2	The Obligors shall, within ten (10) business days after receipt of the written notice (“Option Exercising Notice”) from the Obligee, transfer the equity
interest to the Obligee or any third party designated thereby in accordance with the terms and conditions as agreed herein, if 

 (1) In the opinion of the Obligee or its legal counsel, Chinese law begins allowing overseas enterprises or individuals or wholly foreign-owned enterprises to invest in China and carry out the same
business as Shanghai Taomee does; or 
 (2) In the opinion of the Obligee or its legal counsel, although Chinese law does not
allow overseas enterprises or individuals or wholly foreign-owned enterprises to invest in China or carry out the same business as Shanghai Taomee does, the Obligee has found an enterprise or individual that meets the requirements of Chinese law to
receive the equity interest. 
  

	2.3	The consideration for the equity interest to be transferred to the Obligee or any third party designated thereby according to the terms and conditions agreed herein
shall be the lowest price permitted by the Chinese law at that time. 

  

	2.4	Before the Closing Day, the Obligors shall, according to the request of the Obligee or any third party designated thereby to jointly establish an escrow account
controlled by an independent third party to accept the price paid by the Obligee or any third party designated thereby. On the Closing Day, the Obligee or any third party designated thereby shall pay the price as specified in Article 2.3 herein to
the escrow account. The Obligors warrant to complete relevant equity interest transfer formalities at the administration for industry and commerce, and the Obligee or any third party designated thereby shall provide relevant necessary cooperation.

  

	2.5	According to Article 2.2 herein, after the equity interest is transferred, after the Obligee or any third party designated thereby is registered in the register of
shareholders, and after the Obligee or any third party designated thereby holds the certificate of capital contribution, the Obligors shall, within 3 business days after receiving the written notice from the Obligee, transfer the above-mentioned
price from the above-mentioned escrow account to the account designated by the Obligee or any third party designated thereby. 

  

	2.6	The Obligors hereby agree that, if the Obligors transfer the equity interest at the lowest price permitted by the Chinese law applicable at that time, as described in
the previous paragraph, all of the price obtained by the Obligors as a result shall be obtained by the Obligee or any third party designated thereby in the means designated by the Obligee. 

 

	2.7	The Obligee may, at any time after executing this Agreement, exercise part or all of the option under the Obligee for an unlimited number of times, unless all the
equity interest of Shanghai Taomee is acquired thereby. 

  
 4 

	2.8	If the Obligee reasonably (after consulting with its legal counsel) believes that any change to any law, regulation or interpretation thereof will render it illegal for
the Obligors to maintain or perform any of its obligations hereunder, the Obligee shall have the right to notify the Obligors of the fact and the Obligors and the Obligee shall consult in good faith (subject to the limitations caused by the above
change) to seek a legal substitute method. If any legal substitute method exists by that time, the Obligors shall fully follow the Obligee’s requirements to implement such legal substitute method. 

 

	Article 3	Representations, warranties and commitments 

  

	3.1	The Obligors represent and warrant that: 

  

	(1)	The Obligors have the full right and authorization to sign and perform this Agreement; 

 

	(2)	The Obligors are not subject to any lawsuit, arbitration or other judiciary or administrative proceedings that are pending or that may materially affect the performance
hereof; 

  

	(3)	The Obligors have not been declared bankrupt; 

  

	(4)	Except the equity interest pledge made by the Obligors to the Obligee, the equity interest held by the Obligors is not subject to any mortgage, pledge, liability or any
other third-party encumbrance; 

  

	(5)	The option granted by the Obligors to the Obligee shall be exclusive. The Obligors shall not in any way grant any option or similar right to any third party.

  

	3.2	During the term of this Agreement, the Obligors commits that: 

  

	(1)	the Obligors will sign the equity interest transfer agreement and the resolution of the shareholders’ meeting according to the provisions herein and assist the
Obligee in handling the following matters: assisting the Obligee in obtaining the relevant necessary approvals from relevant governmental bodies for the equity interest transfer; assisting the Obligee in submitting the equity interest transfer
agreement to the relevant administration for industry and commerce to modify the articles of association and the register of shareholders, and assisting the Obligee in handling all other relevant formalities; 

  
 5 

	(2)	except the equity interest pledge made by the Obligors to the Obligee, without prior written consent of the Obligee, the Obligors will not subject the equity interest
to any other mortgage, pledge, liability or any other third-party encumbrance, and shall not transfer or gift the equity interest to any third party other than the Obligee or the third party designated by the Obligee or otherwise dispose of the
equity interest; 

  

	(3)	the Obligors will promptly notify the Obligee of any event or received notice that may affect the equity interest and rights of the Obligors and may change the
obligations of the Obligors hereunder or the performance of such obligations, and take actions and measures according to the reasonable instructions of the Obligee; 

 

	(4)	except the equity interest subscription option granted by the Obligors to the Obligee, the Obligors, without prior written consent of the Obligee, will not grant the
equity interest subscription option or any other right of priority to any third party. 

  

	Article 4	Taxes and expenses 

  

	4.1	Each party hereto agrees to bear all the taxes incurred thereby in performing this Agreement, while the Obligee agrees to bear all the expenses (excluding taxes)
incurred in the equity interest transfer hereunder. 

  

	Article 5	Default 

  

	5.1	If any party hereto breaches any of its representations, warranties and commitments made herein and any of its obligations hereunder, the breaching party shall
compensate the non-breaching party for any and all the actual losses sustained thereby. 

  

	Article 6	Confidentiality 

  

	6.1	All of the content hereof shall be kept confidential. Without prior written consent of the Obligee, the Obligors shall not disclose any information herein to any third
party. This provision will survive the termination hereof. 

  

	6.2	If disclosure of any confidential information herein is required by any law, court verdict, arbitral award or any decision by any governmental administrative body, such
disclosure shall not be regarded as breaching the above Article 6.1. 

  

	Article 7	Transfer 

  

	7.1	The Obligors agree that any part or all of the option hereunder may be transferred by the Obligee to any third party who shall be regarded as one party hereto in
exercising the option in accordance with the terms and conditions provided for herein and exercise/perform all of the rights/obligations of the Obligee hereunder. 

  
 6 

	Article 8	Severability and adverse interpretations 

  

	8.1	If any provision of this Agreement becomes invalid, illegal or unenforceable, such a provision will not affect the validity of the rest provisions of this Agreement. If
at that time there is any arrangement that enables the above invalid, illegal or unenforceable provision to become valid, legal and enforceable, the Obligors, at the request of the Obligee, shall sign necessary documents or take certain actions to
implement such arrangement. 

  

	8.2	Each party agrees to try the best to interpret this Agreement in a manner that enables all the provisions of this Agreement to be enforceable. 

 

	8.3	No provision shall be interpreted in any manner that is adverse to one party solely based on the reason that such provision is proposed by this party.

  

	Article 9	Approval and registration 

  

	9.1	If any law or regulation of any jurisdiction allows and requests this Agreement to be approved and/or registered or filed by or with any governmental body, the Obligors
shall follow the requirements of the Obligee to promptly handle relevant approval and/or registration or filing formalities and submit the evidencing documents for such formalities to the Obligee. 

 

	Article 10	Commitment to compensation 

  

	10.1	The Obligors commit that if the Obligee is punished or fined by any governmental body or suffers any other loss for the reason that this Agreement is declared illegal
by any court of law of any jurisdiction or by any other body that has jurisdiction over this Agreement, the Obligors shall compensate in full all the losses sustained by the Obligee, including but not limited to the losses sustained by the Obligee,
any penalty or fine imposed by any governmental body on the Obligee, and all the legal fees and other expenses / expenditures spent by the Obligee for the above issues. 

 

	Article 11	Governing law and settlement of disputes 

  

	11.1	This Agreement is governed by the law of the People’s Republic of China, including but not limited to the conclusion, performance, effectiveness and interpretation
hereof. 

  

	11.2	Any dispute, controversy or request (the “Dispute”) arising out of or in connection with this Agreement shall be settled by the Parties through
friendly negotiation. In case negotiation fails to settle the dispute, either party may submit it to China International Economic and Trade Arbitration Commission Shanghai Sub-commission for arbitration in Shanghai in accordance with its then
effective arbitration rules. The language to be used in arbitration proceedings shall be Chinese. The arbitral award shall be final and binding on the Parties. 

  
 7 

	11.3	The arbitral award shall be final and binding on and shall be accepted and enforced by the Parties hereto. 

 

	Article 13	Amendments and Supplements 

  

	13.1	Any amendment or supplement hereto shall be made by a written agreement duly executed by the Parties, which forms an integral part hereof and has the same legal force
as this Agreement. 

  

	Article 14	Effectiveness and term 

  

	14.1	This Agreement will be signed and take effect on the day first above written. The validity of the Original Option Agreement will be automatically terminated when this
Agreement takes effect. 

  

	14.2	This Agreement will terminate when the Obligee or any third party designated thereby acquires all the equity interest held by the Obligors in accordance with Article
2.1 herein, provided that such acquisition meets the requirements of the law of the People’s Republic of China. 

  

	Article 15	Miscellaneous 

  

	15.1	This Agreement constitutes an entire equity interest option agreement between the Obligee and the Obligors. Once executed, this Agreement will automatically replace and
substitute any previous oral or written agreements relating to the said equity interest option. Where any of the above oral or written agreements relating to the equity interest option is inconsistent with this Agreement, this Agreement shall
prevail. 

  

	15.2	This Agreement is executed in seven counterparts, one for each party hereto, and all these seven counterparts have the same legal force. 

[REMAINDER OF THIS PAGE IS INTENTIONALLY LEFT BLANK] 

  
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 [SIGNATURE PAGE OF THIS OPTION AGREEMENT] 

The Obligee: 

Shanghai Shengran Information Technology Co., Ltd. 

 

			
	Signature and company seal:	 	 /s/ Zeng Liqing

 Legal representative: Zeng Liqing 
 [seal: Shanghai Shengran Information Technology Co., Ltd.
] 
  

			
	The Obligors:
	
	Zeng Liqing
		
	Signature:	 	 /s/ Zeng Liqing

	
	Wang Haibing
		
	Signature:	 	 /s/ Wang Haibing

	
	Wei Zhen
		
	Signature:	 	 /s/ Wei Zhen

	
	Cheng Yunpeng
		
	Signature:	 	 /s/ Cheng Yunpeng

	
	Wang Bin
		
	Signature:	 	 /s/ Wang Bin

	
	Feng Yuliang
		
	Signature:	 	 /s/ Feng Yuliang

  
 9

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