Document:

Exhibit 4.53

 

LOAN AGREEMENT

 

This Loan Agreement (this “Agreement”) is entered in Shanghai, the People’s Republic of China (“PRC”, excluding the Hong Kong Special Administrative Region, the Macao Special Administrative Region and Taiwan, for purposes of this agreement) and dated December 22, 2014

 

by and among the following parties:

 

(1)                                 PARTY A: 1Verge Internet Technology (Beijing) Co., Ltd.  (“Lender”)

Legal Address: Sections A and C, 5/F, SinoSteel Plaza, No. 8, Haidian Street, Haidian District, Beijing, China

Legal Representative: Victor Wing Cheung Koo

 

and

 

(2)                                 PARTY B: Zhu Huilong   (“Borrower”)

ID Card No:

Address:

 

(Lender and Borrower, each a “Party”; collectively, “Parties”)

 

WHEREAS:

 

A.                                    Zhu Huilong holds 5% equity interest of Heyi Pictures Inc.  (“Heyi Pictures”).

 

B.                                    In order to contribute the Borrower’s proportional registered capital of Heyi Pictures, the Borrower requests from the Lender financial support in an amount of RMB 5,000,000.

 

THEREFORE, the Parties, through friendly negotiation based on equal and mutual benefit, agree as follows:

 

1.                                      Purpose and Sum of the Loan

 

1.1                               Subject to the terms and conditions set forth in this Agreement, the Lender has agreed to lend to the Borrower in the principal amount of up to RMB 5,000,000 (“Loan”) paid in RMB. Such Loan shall be interest-free throughout the term of the Loan.

 

1.2                               Subject to the conditions precedent set forth below, Lender will transfer in one installment the principal amount a Borrower is entitled to under this Agreement within 7 days of receipt by Lender of a drawdown request delivered by the Borrower. No principal shall be disbursed unless a drawdown request in writing is delivered within 15 days of the execution of this Agreement, the Borrower shall confirm in     writing the receipt of the payment immediately upon the Borrower’s

 

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receipt of the payment.

 

2.                                      Loan Terms

 

2.1                               The term for such Loan will be ten (10) years from the execution date of this Agreement. The term under this Agreement shall be automatically extended for successive ten year periods unless written notice to the contrary is given by the Lender three months prior to the expiration of this Agreement.

 

2.2                               The Borrower hereby confirms that such loan provided by the Lender was used only for the investment in the Heyi Pictures. Without the Lender’s prior written consent, the Borrower shall not transfer or pledge his equity interest hereunder to any other third party.

 

2.3                               The Lender and the Borrower jointly agree and confirm that the Borrower shall not repay the Loan in advance except for Lender’s requirement or the expiration of this Agreement. The Borrower shall repay the Loan only in the following way and amount: the Borrower shall repay the Loan only by using all the funds obtained by the Borrower from transferring the entire Borrower’s equity in Heyi Pictures to Lender or to any other third party designated by the Lender. In case the funds received by the Borrower from transferring the aforesaid equity is subject to any tax or administrative expenses, the Borrower shall only be obliged to repay the net portion of such funds (after deducting any applicable tax and expenses) to the Lender.  When all of the Borrower’ equity in Heyi Pictures is transferred as stipulated above and if all the fund thereof is repaid to the Lender by the Borrower, all the outstanding Loans hereunder shall be regarded as repaid.

 

2.4                               The Lender and the Borrower agree and confirm that the Borrower shall immediately repay the Loan in advance in case any one of the following occurs:

 

2.4.1                     The Borrower dies or becomes a person with no or limited capacity for civil rights;

 

2.4.2                     The Borrower commits a crime or is involved in crime;

 

2.4.3                     Any third party claims debt of the Borrower exceeding RMB1,000,000 (RMB one million) which the Borrower is not able to repay;

 

2.4.4                     There are no legal restrictions for foreign investors to directly invest the business of production and distribution of film and television programs under PRC law; or

 

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2.4.5                     In the event that the Lender issues a written notice to the Borrower for repayment of the Loan.

 

3.                                      Conditions Precedent to the Disbursement of the Loan

 

3.1                               Lender shall not be obliged to make any disbursement of the Loan unless all of the following conditions have been satisfied or written waiver to all the conditions that have not been satisfied has been obtained:

 

3.1.1                     The Borrower has delivered the written drawdown request pursuant to Section 1.2 of this Agreement.

 

3.1.2                     All the representations and warranties made by the Borrower are correct, accurate, complete and not misleading.

 

3.1.3                     The Borrower is not in breach of the covenants and undertakings made by such Borrower in Section 5 hereof.

 

3.1.4                     Simultaneously with the execution of this Agreement, the Parties have executed an Equity Option Agreement (“Option Agreement”), pursuant to which the Borrower grant to the Lender or its designated person (legal or natural) an exclusive option to purchase all of the Borrower’s equity interest in Heyi Pictures, to the extent permitted under PRC laws.

 

3.1.5                     Simultaneously with the execution of this Agreement, the Parties have executed an Equity Interest Pledge Agreement (“Pledge Agreement”), pursuant to which the Borrower has pledged all of his equity interest in Heyi Pictures to the Lender, to the extent permitted under PRC laws.

 

4.                                      Representations and Warranties

 

4.1                               The Borrower makes the following representations and warranties to the Lender, and confirms that the Lender execute and perform this Agreement in reliance of such representations and warranties:

 

4.1.1                     The Borrower has the full capacity for civil rights and has the power to enter into this Agreement;

 

4.1.2                     The execution of this Agreement of the Borrower will not violate any law or binding obligations;

 

4.1.3                     This Agreement shall constitute a binding obligation of the Borrower, enforceable against him in accordance with its terms upon its execution;

 

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4.1.4                     The Borrower neither commits criminal behaviors nor is involved in criminal activity;

 

4.1.5                     Except for the option under the Option Agreement and the pledge under the Pledge Agreement, without the prior consent of the Lender, the Borrower shall not create any pledge over part or whole of the Borrower’s shareholder’s right in Heyi Pictures or any priority for any third party with the beneficiary neither the Lender nor its subsidiaries or affiliates.

 

4.2                               The Lender makes the following representations and warranties to the Borrower:

 

4.2.1                     The Lender is a company registered and validly existing under the laws of PRC;

 

4.2.2                     The Lender has the right, power, legal capacity and authority to enter into and perform its obligation under this Agreement. The Lender has taken proper measures and has gained authorizations and approvals for the execution and performance of this Agreement;

 

4.2.3                     This Agreement shall constitute the legal, valid and binding obligations of the Lender, which is enforceable against the Lender in accordance with its terms upon its execution.

 

5.                                      Covenants and Undertakings of Borrower

 

5.1                               The Borrower, as shareholder of Heyi Pictures, hereby undertakes to and cause Heyi Pictures to, observe the following terms with all efforts during the term of this Agreement:

 

5.1.1                     it shall not modify in any way its articles of association or alter its shareholding structure without the prior written consent of the Lender;

 

5.1.2                     it shall not transfer or dispose of any material asset, or create any other security interest over the same without the prior written consent of the Lender;

 

5.1.3                     it shall not provide any warranty or assume any debt for any third party which is beyond its normal daily business scope without the prior written consent of the Lender;

 

5.1.4                     it shall not enter into any material contracts without the prior written consent of the Lender, except those entered into in the ordinary course of business (for the purpose of this paragraph, any contract with a value exceeding RMB 100,000 shall be

 

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deemed to be a material contract);

 

5.1.5                     it shall not extend any loan or credit to any third party without the prior written consent of the Lender;

 

5.1.6                     it shall not merge with or invest in any third party without the prior written consent of the Lender;

 

5.1.7                     it shall not declare in any way any bonus or dividends for its shareholders without the prior written consent of the Lender.

 

5.2                               The Borrower further commits to the Lender, within the term of this Agreement, as follows:

 

5.2.1                     he shall take all the measures to guarantee and maintain his identification and status as shareholders of Heyi Pictures;

 

5.2.2                     he shall not transfer or dispose of any of his equity interest or other rights or powers pertinent to his equity interest in Heyi Pictures;

 

5.2.3                     he shall procure that the shareholders’ meeting of Heyi Pictures shall not pass any decision about its merger with or investment in any third party without the prior written consent of the Lender;

 

5.2.4                     he shall not carry out any action bearing material influences on the assets, business, obligations or liabilities of Heyi Pictures without prior written consent of the Lender;

 

5.2.5                     he shall immediately and unconditionally transfer all or part of his  equity interest in Heyi Pictures to Lender or any third party designated by the Lender in accordance with PRC laws and, where applicable, procure all the other shareholders of Heyi Pictures waive any prior right over purchasing such shares, as required by the Lender;

 

5.2.6                     he shall strictly observe his commitments and guarantees under this Agreement and other related agreements.

 

5.3                               The Borrower hereby covenants and undertakes that upon the signing of this Agreement, the Borrower shall:

 

5.3.1                     pledge all equity interest in Heyi Pictures held by the Borrower for the benefit of the Lender to guarantee the due repayment of the Loan hereunder, the payment of the service fees under the Exclusive Technical and Consulting Services Agreement;

 

5.3.2                     appoint and authorize an individual or entity designated by the Lender to exercise the rights and powers pertinent to the equity interest in Heyi Pictures held by the Borrower simultaneously with the execution of

 

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this Agreement and sign and deliver a power of attorney ;

 

5.3.3                     confirm and ratify in the capacity of a shareholder of Heyi Pictures that the Borrower is bound by the Business Operations Agreement entered into by the Lender, Heyi Pictures and the Borrower on December 22, 2014;

 

5.3.4                     confirm and agree that the Lender shall have the right to acquire or to designate any third party of its choice to acquire from time to time part or all of the equity interest of Heyi Pictures from the Borrower at an agreed price and enter into the Option Agreement.

 

6.                                      Default

 

If a Borrower fails to perform its repayment obligation pursuant to this Agreement, an overdue interest at the rate of 0.01% per day upon the outstanding amount of the Loan shall be payable to the Lender.

 

7.                                      Confidentiality

 

7.1                               Both Parties acknowledge and confirm to take all possible measures to keep confidential all the confidential materials and information (the “Confidential Information”) they get to know by this Agreement. Both Parties shall not disclose, provide or transfer such Confidential Information to any third party without the prior written consent of the other Party. In case of the termination of this Agreement, the receiving party of the Confidential Information shall return or destroy all the files, materials or software as required by the disclosing party, and delete any of the Confidential Information from any memory equipments and discontinue using such Confidential Information.

 

7.2                               Both parties agree that this Section 7 shall survive the modification and termination of this Agreement.

 

8.                                      Notices

 

Unless a written notice of change of address is issued, all correspondence relating to this Agreement shall be delivered in person, or by registered or prepaid mail, or by recognized express services or facsimile to the addresses appointed by the other Party from time to time.

 

9.                                      Governing Law and Dispute Settlement

 

9.1                               The execution, validity, performance and interpretation of this Agreement shall be governed by and construed in accordance with the laws of the PRC.

 

9.2                               Both parties shall strive to settle any dispute arising from the

 

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interpretation or performance through friendly consultation. In case no settlement can be reached through consultation, either Party may submit such matter to China International Economic and Trade Arbitration Commission (“CIETAC”) for arbitration. The arbitration shall follow the then current rules of CIETAC, and the arbitration proceedings shall be conducted in Chinese and shall take place in Shanghai. The arbitration award shall be final and binding upon both Parties. This article shall not be affected by the termination or elimination of this Agreement.

 

9.3                               In case of any disputes arising out of the interpretation and performance of this Agreement or any pending arbitration of such dispute, each Party shall continue to perform their obligations under this Agreement, except for the matters in dispute.

 

10.                               Force Majeure

 

10.1                        Force Majeure refers to any accident which is beyond the Party’s control and is inevitable with the reasonable care of the other Party who shall be influenced, including but not limited to governmental activity, natural force, fire, explosion, storm, flood, earthquake, tide, lightening or war. However, the credit, capital or shortage of financing shall not be deemed as the matters beyond one Party’s reasonable control. The Party influenced by the Force Majeure and seeking for exemption hereunder shall notify the other Party as soon as possible and inform the other Party of the measures to take in order to accomplish the performance of this Agreement.

 

10.2                        In case the performance of this Agreement is delayed or cumbered by the above-referenced Force Majeure, the Party who is influenced by the Force Majeure shall not bear any liability within the scope of delay and cumbrance, and shall take all the proper measures to reduce or eliminate the influence of Force Majeure, and shall make efforts to renew the performance of its obligations hereunder which has been delayed or cumbered by the Force Majeure. Each Party shall try its best to restore the performance of this Agreement once the Force Majeure is eliminated.

 

11.                               Miscellaneous

 

11.1                        This Agreement shall take effect retrospectively from October 1, 2014.

 

11.2                        Any modification, termination or waiver of this Agreement shall not take effect without the written consent of each Party.

 

11.3                        Any appendix attached hereto shall be of the same effect as this Agreement. This Agreement constitutes the entire agreement and

 

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understanding by both Parties in respect of the subject matter hereof and supersedes all prior discussions, negotiations and agreements among them  .

 

11.4                        The Borrower shall not transfer his rights and obligations hereunder to any third party without the prior written consent of the Lender.

 

11.5                        In case any terms and stipulations in this Agreement is regarded as illegal or cannot be performed in accordance with the applicable law, it shall be deemed to be deleted from this Agreement and lose its effect and this Agreement shall remain its effect and be treated as without it from the very beginning. Each Party shall replace the deleted stipulations with those lawful and effective ones, which are acceptable to the Lender, through mutual negotiation.

 

11.6                        This Agreement is prepared in both English and Chinese. In case of any discrepancy between the English and Chinese versions, the Chinese version shall prevail.

 

[The space below is intentionally left blank.]

 

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IN WITNESS WHEREOF, the Parties hereto have caused this Agreement to be duly executed on their behalf by a duly authorized representative as of the date first written above.

 

 

	
LENDER: 1VERGE INTERNET TECHNOLOGY (BEIJING)   CO., LTD.
    
	
(Company Seal)
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
By:
    	
/s/ Victor Wing   Cheung Koo
    	
 
    
	
Authorized Representative: Victor Wing   Cheung Koo
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
BORROWER: Zhu Huilong
    
	
 
    	
 
    
	
 
    	
 
    
	
By:
    	
/s/ Zhu Huilong
    	
 
    

 

9Exhibit 4.54

 

BUSINESS OPERATIONS AGREEMENT

 

This Business Operations Agreement (this “Agreement”) is entered in Shanghai, the People’s Republic of China (the “PRC”, excluding the Hong Kong Special Administrative Region, the Macao Special Administrative Region and Taiwan, for the purposes of this Agreement) and dated December 22, 2014.

 

by and among the following parties:

 

(1)                                 PARTY A: CHUANXIAN TECHNOLOGY (SHANGHAI) CO., LTD.

 

Legal Address: Room 02, Floor 2, Building Wu, No.555 Dongchuan Road, Minhang District, Shanghai
  Legal Representative: Yang Weidong

 

(2)                                 PARTY B: SHANGHAI QUAN TOODOU NETWORK SCIENCE AND TECHNOLOGY CO., LTD.

 

Legal Address: Room 635-14, Building 2, No.351 Guoshoujing Road, Zhangjiang Hi-Tech Park , Shanghai
  Legal Representative: Qin Qiong

 

(3)                                 PARTY C:  Qin Qiong, a PRC citizen whose PRC identification number is , and whose residential address is .

 

(4)                                 PARTY D: Liu Dele, a PRC citizen whose PRC identification number is , and whose residential address is .

 

(Individually a “Party”, and collectively the “Parties”)

 

WHEREAS:

 

A                                       Party A is a wholly foreign-owned enterprise registered in the PRC;

 

B                                       Party B is a domestic company registered in the PRC and owns all equity interest in Shanghai Quan Toodou Cultural Communication Co., Ltd. (the “Subsidiary”). Party B and the Subsidiary are approved by relevant governmental authorities to engage in the business of providing Internet information services and value-added telecommunications services;

 

C                                       A business relationship has been established between Party A and Party B by entering into an Exclusive Technical and Consulting Services Agreement, pursuant to which Party B is required to make all the stipulated payments to Party A. Therefore, the daily operations of Party B will have a material impact on its ability to pay the payables to Party A;

 

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D                                       Party C and Party D are the shareholders of Party B, who own 67.14% and 32.86% equity interest, respectively, in Party B.

 

THEREFORE, through friendly negotiation in the principle of equality and common interest, the Parties hereby jointly agree to abide by the following:

 

1.                                      Effective Date

 

This Agreement shall take effect from December 31, 2014 (“Effective Date”).

 

2.                                      Negative Undertakings

 

In order to ensure Party B’s performance of the agreements between Party A and Party B and all its obligations born to Party A, Party B together with its shareholders Party C, and Party D hereby jointly confirm and agree that unless Party B has obtained prior written consent from Party A or another party appointed by Party A, Party B shall not, nor shall Party C or Party D cause Party B to conduct any transaction which may materially affect its assets, obligations, rights or operations, including but not limited to the following contents:

 

2.1                               to conduct any business that is beyond the normal business scope;

 

2.2                               to borrow money or incur any debt from any third party;

 

2.3                               to change or dismiss the executive director or to dismiss and replace any senior management members;

 

2.4                               to sell to or acquire from any third party any assets or rights, including but not limited to any intellectual property rights;

 

2.5                               to provide guarantee for any third party with its assets or intellectual property rights or to provide any other guarantee or to place any other obligations over its assets;

 

2.6                               to amend the articles of association of Party B or change its business area;

 

2.7                               to change the normal business process or modify any material company policy;

 

2.8                               to assign any of the rights or obligations under this Agreement herein to any third party;

 

2.9                               to incur or assume any indebtedness;

 

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2.10                        to liquidate Party B and allocate the remaining assets;

 

2.11                        to make significant adjustment to its business operation mode, marketing strategy, operation policy or client relationship; or

 

2.12                        to have any of its subsidiaries do any of the foregoing.

 

3.                                      Management of Operation and Arrangements of Human Resource

 

3.1                               Party B together with its shareholders Party C, and Party D hereby jointly agree to accept and strictly perform the proposals in respect of the employment and dismissal of its employees, the daily business management and financial management, etc., provided by Party A from time to time.

 

3.2                               Party B together with its shareholders Party C and Party D hereby jointly and severally agree that Party C and Party D shall only appoint the personnel designated by Party A as the Executive Director of Party B in accordance with the procedures required  by the applicable laws and regulations and the articles of association of Party B, and shall cause such Executive Director to appoint the personnel designated by Party A as Party B’s General Manager, Chief Financial Officer, and other senior officers.

 

3.3                               If any of the above officers resigns or is dismissed by Party A, he or she will lose the qualification to be appointed for any position in Party B and thereafter Party B, Party C, and Party D shall appoint or cause the appointment of another candidate designated by Party A to assume such position.

 

3.4                               For the purpose of the above-mentioned Section 3.3, Party B, Party C, and Party D shall take all the necessary internal or external procedures to accomplish the above dismissal and appointment in accordance with the relevant laws and regulations, the articles of association of Party B and this Agreement.

 

3.5                               Each of Party C, and Party D hereby agrees to, upon the execution of this Agreement, simultaneously sign a Power of Attorney, pursuant to which each of Party C, and Party D shall authorize any individual appointed by Party A in writing, to the extent permitted by the PRC law exercise his or her shareholders’ rights, including the full voting right of a shareholder at Party B’s shareholders’ meetings. Each of Party C, and Party D further agrees to replace the authorized person appointed according to the above mentioned Power of Attorneys at any time according to the requirement of Party A.

 

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4.                                      Other Agreements

 

4.1                               Given (i) that the business relationship between Party A and Party B has been established through the Exclusive Technical and Consulting Services Agreement, and (ii) that the daily business activities of Party B will have a material impact on Party B’s ability to pay the payables to Party A, each of Party C, and Party D agrees that:

 

·                                          She/he shall not put forward, or vote in favor of, any shareholder resolution to, or otherwise request Party B to, distribute profits, funds, assets or property to the shareholders of Party B or any of its affiliates; and

 

·                                          She/he shall not put forward, or vote in favor of, any shareholder resolution to, or otherwise request Party B to, issue any dividends or other distributions with respect to the equity interest of Party B held by Party C or  Party D; provided, however, if such dividends or other distributions are distributed to Party C and/or Party D from Party B, she/he will immediately and unconditionally pay or transfer to Party A any dividends or other distributions in whatsoever form obtained from Party B as a shareholder of Party B at the time such payables arise, after having deducted and paid any and all relevant taxes and expenses applicable to such a shareholder as a result of its/his/her receipt of such dividends or other distributions.

 

4.2                               If any of Party C or Party D is held liable for any legal or any other responsibilities by reason of her/his performance of her/his obligations under this Agreement and as a shareholder of Party B, Party A shall keep each of Party C, and Party D fully indemnified from any such liabilities, costs or losses (including but not limited to any and all legal expenses) incurred by Party C and/or Party D, provided that the actions performed by Part C and/or Party D according to her/his obligations under this Agreement and as a shareholder of Party B are taken in good faith and are not contrary to the best interests of Party A.

 

4.3                               To ensure that the cash flow requirements of Party B’s ordinary operations are met and/or to set off any loss accrued during such operations, Party A is obligated, only to the extent permissible under PRC law, to provide financing support for Party B, whether or not Party B actually incurs any such operational loss. Party A’s financing support for Party B may take the form of bank entrusted loans or borrowings. Contracts for any such entrusted loans or borrowings shall be executed separately. Party A foregoes its right to seek repayment in the event that the Party B is unable to repay such findings.

 

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5.                                      Entire Agreement and Modifications

 

5.1                               This Agreement together with the powers of attorney executed by each of Party C, and Party D in accordance with Section 3.5 shall replace and substitute all previous agreements, contracts, understandings and communications among all the Parties with respect to the subject matters of this Agreement.

 

5.2                               Any modification of this Agreement shall take effect only after it is executed by each and every Party. The amendment and supplement duly executed by each and every Party shall form part of this Agreement and shall have the same legal effect as this Agreement.

 

6.                                      Governing Law

 

The execution, validity, performance, interpretation and disputes of this      Agreement shall be governed by and construed in accordance with the PRC laws.

 

7.                                      Dispute Resolution

 

7.1                               The Parties shall strive to settle any dispute arising from the interpretation or performance of this Agreement through friendly consultation in good faith. In case no settlement can be reached through friendly consultation, each Party can submit such matter to the China International Economic and Trade Arbitration Commission (“CIETAC”), for arbitration in accordance with the then current rules of CIETAC. The arbitration proceedings shall take place in Shanghai and shall be conducted in Chinese. The arbitration award shall be final and binding upon all the Parties. This Section 7 shall not be affected by the termination or elimination of this Agreement.

 

7.2                               During the process of the dispute resolution, each Party shall continue to perform its obligations in good faith according to the provisions of this Agreement except for the subject matters in dispute.

 

8.                                      Notice

 

8.1                               Any notice that is given by the Parties hereto for the purpose of performing the rights and obligations hereunder shall be in written form. Where such notice is delivered personally, the actual delivery time is regarded as notice time; where such notice is transmitted by telex or facsimile, the notice time is the time when such notice is transmitted. If such notice (i) does not reach the addressee on a business day or (ii) reaches the addressee after the business hours, the next business day following such day is the date of notice. The written form includes facsimile and telex.

 

8.2                               Any notice or other correspondence hereunder provided shall be delivered to the following addresses in accordance with the above

 

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terms:

 

	
PARTY A
    	
:
    	
CHUANXIAN TECHNOLOGY (SHANGHAI) CO., LTD.
    
	
Address
    	
:
    	
Room 02,   Floor 2, Building Wu, No.555 Dongchuan Road, Minhang District, Shanghai
    
	
Fax
    	
:
    	
020-3596-1001
    
	
Tele
    	
:
    	
020-   3596-1000
    
	
Addressee
    	
:
    	
Yang   Weidong
    
	
 
    	
 
    	
 
    
	
PARTY B
    	
:
    	
SHANGHAI QUAN TOODOU NETWORK SCIENCE AND TECHNOLOGY CO., LTD.  
    
	
 
    	
 
    	
 
    
	
Address
    	
:
    	
Room 635-14,No.2   Building,No.351 GuoShouJing Road,Zhangjiang high tech park, Shanghai  
    
	
 
    	
 
    	
 
    
	
Fax
    	
:
    	
020-3596-1001
    
	
Tele
    	
:
    	
020-   3596-1000
    
	
Addressee
    	
:
    	
Qin Qiong
    
	
 
    	
 
    	
 
    
	
PARTY C
    	
:
    	
Qin   Qiong
    
	
Address
    	
:
    	
 
    
	
Fax
    	
:
    	
 
    
	
Tele
    	
:
    	
 
    
	
Addressee
    	
:
    	
Qin Qiong
    
	
 
    	
 
    	
 
    
	
PARTY   D
    	
:
    	
Liu   Dele
    
	
Address
    	
:
    	
 
    
	
Fax
    	
:
    	
 
    
	
Tele
    	
:
    	
 
    
	
Addressee
    	
:
    	
Liu Dele
    

 

9.                                      Effectiveness, Term and Others

 

9.1                               This Agreement shall be executed by a duly authorized representative of each Party on the date first written above and become effective as of the Effective Date. The term of this agreement is ten years unless early termination occurs in accordance with the relevant provisions herein. (such term, and any extensions thereof, each a “Term”). This Agreement shall be automatically extended for successive ten (10) years upon the expiration of any Term unless Party A provides written notice to terminate this Agreement three (3) months prior to the expiration of such Term.

 

9.2                               Party B, Party C, and Party D shall not have the right to terminate this Agreement. Notwithstanding the above stipulation, Party A shall have

 

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the right to terminate this Agreement at any time by issuing a prior written notice to Party B, Party C, and Party D thirty (30) days before the termination.

 

9.3                               In case any terms and stipulations in this Agreement are regarded as illegal or can not be performed in accordance with the applicable laws, they shall be deemed to be deleted from this Agreement and lose their effect and this Agreement shall be treated as if they did not exist from the very beginning. However, the remaining stipulations will remain effective. Each Party shall replace the deleted stipulations with lawful and effective stipulations, which are acceptable to each Party, through mutual negotiation.

 

9.4                               Any failure or delay on the part of any Party to exercise any rights, powers or privileges hereunder shall not operate as a waiver thereof. Any single or partial exercise of such rights, powers or privileges shall not preclude any further exercise of such rights, powers or privileges.

 

[The space below is intentionally left blank.]

 

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IN WITNESS WHEREOF, the Parties hereto have caused this Agreement to be duly executed on their behalf by a duly authorized representative as of the date first written above.

 

	
PARTY A: CHUANXIAN   TECHNOLOGY (SHANGHAI) CO., LTD.
    
	
(Company Seal)
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
By:
    	
/s/ Yang Weidong
    	
 
    
	
Authorized   Representative: Yang Weidong
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
PARTY B: SHANGHAI QUAN TOODOU NETWORK SCIENCE AND   TECHNOLOGY CO., LTD.
    
	
(Company Seal)
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
By:
    	
/s/ Qin Qiong
    	
 
    
	
Authorized   Representative: Qin Qiong
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
PARTY C:   Qin Qiong
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
By:
    	
/s/ Qin Qiong
    	
 
    
	
 
    	
 
    	
 
    
	
PARTY D:   Liu Dele
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
By:
    	
/s/ Liu Dele
    	
 
    

 

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