Document:

Exhibit 4.4

 

AMENDED AND RESTATED LOAN AGREEMENT

 

This AMENDED AND RESTATED LOAN AGREEMENT (this “Agreement”), dated June 15, 2016, is made in Beijing, the People’s Republic of China (“PRC”) by and among:

 

Lender:                                                   Beijing Jingdong Century Trade Co., Ltd., with registered address at Room B168, Building 2, No. 99, Kechuang 14 Street, Beijing Economic and Technological Development Zone, Beijing;

 

And

 

Borrowers:  Beijing Jingdong 360 Degree E-Commerce Co., Ltd.

 

Richard Qiangdong Liu;

 

Pang Zhang; and

 

Yayun Li

 

(In this Agreement, the Lender and the Borrowers are individually referred to as a “Party”, collectively the “Parties”)

 

1.                                      Loan

 

1.1                               Subject to the terms and conditions of this Agreement, the Lender agrees to provide a loan at an aggregate amount of two hundred million (¥200,000,000) (the “Loan”) to the Borrowers, which Loan will be provided by Richard Qiangdong Liu, Pang Zhang and Yayun Li at the amount of RMB ninty million (¥90,000,000), RMB fifty million (¥50,000,000) and RMB sixty million (¥60,000,000) , respectively.

 

1.2                               It is confirmed that the Lender has provided, and the Borrowers have received, the full amount of the Loan upon execution of this Agreement.

 

1.3                               The Borrowers agree to use the Loan to pay for its investment in the registered capital of the Borrower Company and, unless with prior written consent of the Lender, will not use the Loan for any other purpose, or transfer or pledge its shares or other interests in the Borrower Company to any third party.

 

1.4                               The Borrowers confirm that they have received the Loan upon execution of this Agreement and used the Loan to pay for their investments in the Registered Capital of the Borrower Company. The Borrowers may not withdraw such investment during the term of operations of the Borrower Company.

 

1.5                               It is confirmed that the Lender will not charge any interest upon the Loan, unless otherwise provided herein.

 

 

2.                                      Term of Loan

 

2.1                               The term of the Loan hereunder shall be ten (10) years from the date when the Borrowers actually receive all or any part of the Loan. Unless otherwise indicated by the Lender prior to its expiration, the term of the Loan will be automatically extended for another ten (10) years, and so forth thereafter.

 

2.2                               During the term or any extended term of the Loan, the Loan will become immediately due and payable by the Borrowers pursuant to the terms of this Agreement if:

 

(1)                                 The Borrowers die or become a person incapacitated or with limited capacity for civil acts;

 

(2)                                 The Borrowers resign or are dismissed by the Lender, the Borrower Company or any affiliate of the Lender;

 

(3)                                 The Borrowers commit a crime or are involved in a crime;

 

(4)                                 Any third party pursue any claim of more than RMB 100,000 against any of the Borrowers and the Lender has reasonable ground to believe that the Borrowers will not be capable to pay for such claim;

 

(5)                                 The Lender decides to perform the Exclusive Purchase Option Agreement (as defined below) when foreign enterprises are allowed to control or wholly own the Borrower Company under applicable PRC laws;

 

(6)                                 The Borrowers fail to comply with or perform any of their commitments or obligations under this Agreement (or any other agreement between them and the Lender), and further fails to remedy such breach within 30 business days upon its occurrence; and

 

(7)                                 This Agreement, the Equity Pledge Agreement, or the Exclusive Purchase Option Agreement is terminated or held invalid by any court for any reason other than the Lender’s.

 

3.                                      Repayment of Loan

 

3.1                               The Lender and the Borrowers agree and confirm that the Loan will be repaid in the following manner only: the Borrowers will transfer all of its equity interests in the Borrower Company to the Lender or any legal or natural person designated by the Lender pursuant to requirements from the Lender.

 

3.2                               The Lender and the Borrowers agree and confirm that to the extent permitted by the laws, the Lender has the right but no obligation to purchase or designate any legal or natural person designated by it to purchase all or any part of the equity interests in the Borrower Company from the Borrowers at the price set forth under the Exclusive Purchase Option Agreement.

 

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3.3                               It is agreed and confirmed by the Parties that the Borrowers shall be deemed to have fulfilled their repayment obligations hereunder only after both of the following conditions have been satisfied.

 

(1)                                 The Borrowers have transferred all of their equity interests in the Borrower Company to the Lender and/or its designated person; and

 

(2)                                 The Borrowers have repaid to the Lender all of the transfer proceeds or an amount equivalent to the maximum amount permitted by the laws.

 

3.4                               The Loan will be deemed as a zero interest loan if the price to transfer the equity interests in the Borrower Company to the Lender from the Borrowers concluded by the Parties under this Agreement any other related agreements is equal or less than the amount of the Loan. Under such circumstance, the Borrowers are not required to repay any remaining amount of and/or any interest upon the Loan; provided, however, that if the equity interest transfer price exceeds the amount of the Loan, the exceeding amount will be deemed as the interest upon the Loan (calculated by the highest interest permitted by the PRC laws) and financing cost thereof.

 

3.5                               Notwithstanding anything to the contrary, if the Borrower Company goes bankruptcy, dissolution or is ordered for closure during the term or extended term of this Agreement, and Borrowers will liquidate the Borrower Company according to laws and all of the proceeds from such liquidation will be used to repay the principal, interest (calculated by the highest interest permitted by the PRC laws) and financing cost of the Loan.

 

4.                                      Obligations of the Borrowers

 

4.1                               The Borrowers will repay the Loan according to the provisions of this Agreement and requirements from the Lender.

 

4.2                               The Borrowers will enter into an Amended and Restated Equity Pledge Agreement (the “Equity Pledge Agreement”) with the Lender and the Borrower Company, whereby the Borrowers agree to pledge all of its equity interests in the Borrower Company to the Lender.

 

4.3                               The Borrowers will enter into an Amended and Restated Exclusive Purchase Option Agreement (the “Exclusive Purchase Option Agreement”) with the Lender and the Borrower Company, whereby the Borrowers will to the extent permitted by the PRC laws grant an irrevocable and exclusive purchase option for the Lender to purchase all or any part of the equity interest in the Borrower Company from the Borrowers.

 

4.4                               The Borrowers will perform its obligations under this Agreement, the Equity Pledge Agreement and the Exclusive Purchase Option Agreement, and provide support for the Lender to complete all filings, approvals, authorizations, registration and other government procedures necessary to perform such agreements.

 

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4.5                               The Borrowers will sign an irrevocable power of attorney authorizing a person designated by the Lender to exercise on their behalf all of their rights as the shareholders of the Borrower Company.

 

5.                                      Representations and Warranties

 

5.1                               The Lender represents and warrants to the Borrowers that from the date of this Agreement until termination hereof:

 

(a)                                 It is a wholly foreign-owned company duly incorporated and validly existing under the laws of the PRC;

 

(b)                                 It has the power and receives all approvals and authorities necessary and appropriate to execute and perform this Agreement. Its execution and performance of this Agreement are in compliance with its articles of association or other organizational documents;

 

(c)                                  None of its execution or performance of this Agreement is in breach of any law, regulation, government approval, authorization, notice or any other government document, or any agreement between it and any third party or any covenant issued to any third party; and

 

(d)                                 This Agreement, once executed, becomes legal, valid and enforceable obligations upon the Lender.

 

5.2                               The Borrowers represent and warrant that from the date of this Agreement until termination hereof:

 

(a)                                 They are fully capable to conduct civil acts;

 

(b)                                 The Borrower Company is a limited liability company incorporated and validly existing under the PRC laws, and the Borrowers are the legal owners of the Borrower Equity;

 

(c)                                  None of their execution or performance of this Agreement is in breach of any law, regulation, government approval, authorization, notice or any other government document, or any agreement between them and any third party or any covenant issued to any third party;

 

(d)                                 This Agreement, once executed, becomes legal, valid and enforceable obligations upon the Borrowers;

 

(e)                                  They have paid the full investment relating to the Borrower Equity according to law, and received a verification report for such payment from a qualified accounting firm;

 

(f)                                   Except for those provided under the Equity Pledge Agreement, they create no mortgage, pledge or any other security upon the Borrower Equity, provides no offer to any third party to transfer the Borrower Equity, make no covenant regarding any offer to purchase the Borrower Equity from any third party, or enter into any agreement with any third party to transfer the Borrower Equity;

 

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(g)                                  There is no existing or potential dispute, suit, arbitration, administrative proceeding or any other legal proceeding in which the Borrowers and/or the Borrower Equity is involved; and

 

(h)                                 The Borrower Company has completed all government approvals, authorizations, licenses, registrations and filings necessary to conduct its businesses and own its assets.

 

6.                                      Covenants from the Borrowers

 

6.1                               The Borrowers covenant in their capacity of the shareholders of the Borrower Company that during the term of this Agreement they will procure the Borrower Company:

 

(a)                                 without prior written consent from the Lender, not to supplement, amend or modify its articles of association, or increase or decrease its registered capital, or change its capital structures of the Company;

 

(b)                                 to maintain its existence, prudently and effectively operate its businesses and deal with its affairs in line with fair financial and business standards and customs;

 

(c)                                  without prior written consent from the Lender, not to sell, transfer, pledge or otherwise dispose any legal or beneficial interest of any of its assets, businesses or income, or allow creation of any other security interests thereupon;

 

(d)                                 without prior written consent from the Lender, not to incur, inherit, guarantee or allow the existence of any debt, except for (i) any debt incurred during its ordinary course of business rather than from borrowing; and (ii) any debt which has been disclosed to and obtained the written consent from The Lender;

 

(e)                                  to always conduct its business operations in ordinary course to maintain the value of its assets;

 

(f)                                   without prior written consent from the Lender, not to enter into any material agreement other than those executed in its ordinary course of business;

 

(g)                                  not to provide any loan or credit to any party without prior written consent from the Lender;

 

(h)                                 to provide any and all information regarding its operations and financial conditions at the request from the Lender;

 

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(i)                                     to buy and maintain requisite insurance policies from an insurer acceptable to the Lender, the amount and type of which will be the same with those maintained by the companies having similar operations, properties or assets in the same region;

 

(j)                                    without prior written consent from the Lender, not to combine, merge with, acquire or make investment to any person;

 

(k)                                 to immediately notify the Lender of any actual or potential litigation, arbitration or administrative proceeding regarding its assets, business and income;

 

(l)                                     to execute any document, conduct any action, and make any claim or defense necessary or appropriate to maintain its ownership of all of its assets;

 

(m)                             without prior written consent from the Lender, not to distribute any dividend or bonus to any of its shareholders;

 

(n)                                 to appoint any person nominated by the Lender or the parent of the Lender to its board at the request of the Lender; and

 

(o)                                 to strictly comply with the provisions of the Exclusive Purchase Option Agreement, and not to make any act or omission which may affect its validity and enforceability.

 

6.2                               The Borrowers covenant during the term of this Agreement:

 

(a)                                 except those provided under the Equity Pledge Agreement and without prior written consent from the Lender, not to sell, transfer, pledge or otherwise dispose any legal or beneficial interest of the Borrower Equity, or allow creation of any other security interests thereupon;

 

(b)                                 to procure the shareholders of the Borrower Company not to approve any sale, transfer, pledge or otherwise disposal of any legal or beneficial interest of the Borrower Equity, or creation of any other security interests thereupon without prior written consent from the Lender, except to the Lender or its designated person;

 

(c)                                  to procure the shareholders of the Borrower Company not to approve its merger or association with, or acquisition of or investment in any person without prior written consent from the Lender;

 

(d)                                 to immediately notify the Lender of any actual or potential litigation, arbitration or administrative proceeding regarding the Borrower Equity;

 

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(e)                                  to execute any document, conduct any action, and make any claim or defense necessary or appropriate to maintain its ownership of the Borrower Equity;

 

(f)                                   not to make any act and/or omission which may affect any asset, business or liability of the Borrower Company without prior written consent from the Lender;

 

(g)                                  to appoint any person nominated by the Lender or the parent of the Lender to the board of the Borrower Company at the request of the Lender;

 

(h)                                 to the extent permitted under the PRC laws and at the request of the Lender at any time, to transfer unconditionally and immediately all of the equity interests owned by the Borrowers to the Lender or any person designated by it, and procure any other shareholder of the Borrower Company to waive the right of first refusal regarding such equity interests;

 

(i)                                     to the extent permitted under the PRC laws and at the request of the Lender at any time, to procure any other shareholder of the Borrower Company to transfer unconditionally and immediately all of the equity interests owned by such shareholder to the Lender or any person designated by it, and the Borrowers hereby waive their right of first refusal regarding such equity interests;

 

(j)                                    if the Lender purchases the Borrower Equity from the Borrowers pursuant to the Exclusive Purchase Option Agreement, to use the price of such purchase to repay the Loan to the Lender on priority; and

 

(k)                                 to strictly comply with the provisions of this Agreement, the Equity Pledge Agreement and the Exclusive Purchase Option Agreement, perform its obligations under each of such agreements, and not to make any act or omission which may affect the validity and enforceability of each of such agreements.

 

7.                                      Liabilities for Breach of Contract

 

7.1                               If any party (“Defaulting Party”) breaches any provision of this Agreement, which causes damage to the other party (“Non-defaulting Party”), the Non-defaulting Party could notify the Defaulting Party in writing and request it to rectify and correct such breach of contract; if the Defaulting Party fails to take any action satisfactory to the Non-defaulting Party to rectify and correct such breach within fifteen (15) working days upon the issuance of the written notice by the Non-defaulting Party, the Non-defaulting Party may immediately take the actions pursuant to this Agreement or take other remedies in accordance with laws.

 

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7.2                               If the Borrowers fail to repay the Loan pursuant to the terms under this Agreement, they will be liable for a penalty interest accrued upon the amount due and payable at a daily interest rate of 0.02% until the Loan as well as any penalty interest and any other amount accrued thereupon are fully repaid by the Borrowers.

 

8.                                      Notices

 

Notices or other communications required to be given by any Party pursuant to this Agreement shall be made in writing and delivered personally or sent by mail or facsimile transmission to the addresses of the other Parties set forth below or other designated addresses notified by such other Parties to such Party from time to time. The date when the notice is deemed to be duly served shall be determined as the follows: (a) a notice delivered personally is deemed duly served upon the delivery; (b) a notice sent by mail is deemed duly served on the seventh (7th) day after the date when the air registered mail with postage prepaid has been sent out (as is shown on the postmark), or the fourth (4th) day after the delivery date to the internationally recognized courier service agency; and (c) a notice sent by facsimile transmission is deemed duly served upon the receipt time as is shown on the transmission confirmation of relevant documents.

 

If to the Lender: Beijing Jingdong Century Trade Co., Ltd.

 

	
Address:
    	
Room B168, Building 2,   No. 99, Kechuang 14 Street,
    
	
 
    	
Beijing Economic and   Technological Development
    
	
 
    	
Zone, Beijing
    
	
Phone:
    	
010-58955008
    
	
Fax:
    	
010-58955990
    
	
Attention:
    	
Richard Qiangdong Liu
    

 

If to the Borrowers:

 

	
Richard Qiangdong Liu
    
	
Address:
    	
Room B168, Building 2,   No. 99, Kechuang 14 Street,
    
	
 
    	
Beijing Economic and   Technological Development Zone,
    
	
 
    	
Beijing
    
	
Phone:
    	
010-58955008
    
	
Fax:
    	
010-58955990
    
	
 
    	
 
    
	
Pang Zhang
    	
 
    
	
Address:
    	
Room B168, Building 2,   No. 99, Kechuang 14 Street,
    
	
 
    	
Beijing Economic and   Technological Development Zone,
    
	
 
    	
Beijing
    
	
Phone:
    	
010-58955008
    
	
Fax:
    	
010-58955990
    

 

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Yayun Li
    	
 
    
	
Address:
    	
Room B168, Building 2,   No. 99, Kechuang 14 Street,
    
	
 
    	
Beijing Economic and   Technological Development Zone,
    
	
 
    	
Beijing
    
	
Phone:
    	
010-58955008
    
	
Fax:
    	
010-58955990
    

 

9.                                      Confidentiality

 

All Parties acknowledge and confirm that any oral or written materials exchanged by and between the Parties in connection with this Agreement are confidential. All Parties shall keep in confidence all such information and not disclose it to any third party without prior written consent from other Parties unless: (a) such information is known or will be known by the public (except by disclosure of the receiving party without authorization); (b) such information is required to be disclosed in accordance with applicable laws or rules or regulations; or (c) if any information is required to be disclosed by any party to its legal or financial advisor for the purpose of the transaction of this Agreement, such legal or financial advisor shall also comply with the confidentiality obligation similar to that stated hereof. Any disclosure by any employee or agency engaged by any Party shall be deemed the disclosure of such Party and such Party shall assume the liabilities for its breach of contract pursuant to this Agreement. This Article shall survive expiration or termination of this Agreement.

 

10.                               Applicable Law and Dispute Resolution

 

10.1                        The formation, validity, performance and interpretation of this Agreement and the disputes resolution under this Agreement shall be governed by the PRC laws.

 

10.2                        The Parties shall strive to settle any dispute arising from or in connection with this Agreement through friendly consultation. In case no settlement can be reached through consultation within thirty (30) days after the request for consultation is made by any Party, any Party can submit such matter to China International Economic and Trade Arbitration Commission for arbitration in accordance with its then effective rules. The arbitration shall take place in Beijing. The arbitration award shall be final and binding upon all the Parties.

 

11.                               Miscellaneous

 

11.1                        The headings contained in this Agreement are for the convenience of reference only and shall not be used to interpret, explain or otherwise affect the meaning of the provisions of this Agreement.

 

11.2                        This Agreement shall be effective as of the date of its execution. The Parties agree and confirm that the effect of this Agreement shall retrospect to June 15, 2016. Once effective, this Agreement will expire until the Parties have performed their respective obligations under this Agreement.

 

11.3                        The Parties agree to promptly execute any document and take any other action reasonably necessary or advisable to perform provisions and purpose of this Agreement.

 

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11.4                        The Parties confirm that this Agreement shall, upon its effectiveness, constitute the entire agreement and common understanding of the Parties with respect to the subject matters herein and fully supersede all prior verbal and/or written agreements and understandings with respect to the subject matters herein.

 

11.5                        The Parties may amend and supplement this Agreement in writing. Any amendment and/or supplement to this Agreement by the Parties is an integral part of and has the same effect with this Agreement.

 

11.6                        This Agreement shall be binding upon and for the benefit of all the Parties hereto and their respective inheritors, successors and the permitted assigns.

 

11.7                        Any Party’s failure to exercise the rights under this Agreement in time shall not be deemed as its waiver of such rights and would not affect its future exercise of such rights.

 

11.8                        If any provision of this Agreement is held void, invalid or unenforceable by a court of competent jurisdiction, governmental agency or arbitration authority, the validity, legality and enforceability of the other provisions hereof shall not be affected or impaired in any way. The Parties shall cease performing such void, invalid or unenforceable provisions and revise such void, invalid or unenforceable provisions only to the extent closest to the original intention thereof to recover its validity or enforceability for such specific facts and circumstances.

 

11.9                        Unless with prior written consent from the Lender, the Borrowers may not assign any of their rights and obligations under this Agreement to any third party.

 

11.10                 This Agreement is made in four (4) originals with each Party holding one (1) original. Each original has the same effect.

 

(No text below)

 

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(Signature Page)

 

IN WITNESS THEREOF, each Party has signed or caused its legal representative to sign this Agreement as of the date first written above.

 

	
Party A: Beijing Jingdong   Century Trade Co., Ltd.
    	
 
    
	
 
    	
 
    
	
By: 
    	
/s/ Beijing Jingdong Century   Trade Co., Ltd.
    	
 
    
	
 
    	
(Seal of Beijing Jingdong   Century Trade Co., Ltd.)
    	
 
    
	
 
    	
 
    	
 
    
	
By: 
    	
/s/ Richard Qiangdong Liu
    	
 
    
	
 
    	
 
    	
 
    
	
Party B:
    	
 
    
	
 
    	
 
    
	
Richard Qiangdong Liu
    	
 
    
	
 
    	
 
    
	
By: 
    	
/s/ Richard Qiangdong Liu
    	
 
    
	
 
    	
 
    	
 
    
	
Pang Zhang
    	
 
    
	
 
    	
 
    
	
By: 
    	
/s/ Pang Zhang
    	
 
    
	
 
    	
 
    	
 
    
	
Yayun Li
    	
 
    
	
 
    	
 
    
	
By: 
    	
/s/ Yayun Li
    	
 
    

 

11Exhibit 4.5

 

Amended and Restated Equity Pledge Agreement

 

This AMENDED AND RESTATED EQUITY PLEDGE AGREEMENT, (this “Agreement”), dated June 15, 2016, is made in Beijing, the People’s Republic of China (“PRC”) by and among:

 

Party A:                                                Beijing Jingdong Century Trade Co., Ltd.
  Registered address: Room B168, Building 2, No. 99, Kechuang 14 Street, Beijing Economic and Technological Development Zone, Beijing

 

Party B:                                                Richard Qiangdong Liu;

 

Pang Zhang; and

 

Yayun Li

 

Party C:                                                Beijing Jingdong 360 Degree E-Commerce Co., Ltd.
  Registered address: Room B168, Building 2, No. 99, Kechuang 14 Street, Beijing Economic and Technological Development Zone, Beijing

 

(Party B is referred to as “Pledgors” hereinafter; Party A is referred to as “Pledgee” hereinafter; and either the Pledgors or the Pledgee is individually referred to as a “Party” and collectively referred to as the “Parties”.)

 

Whereas,

 

(1)                                 Beijing Jingdong 360 Degree E-Commerce Co., Ltd. (“Beijing Company”) is a limited liability company duly incorporated and validly existing under the PRC laws with the registered share capital of RMB 22 million.

 

(2)                                 The Pledgors hold 100% equity interests of Beijing Company of which 45%, 30% and 25% of the equity interests are held by Richard Qiangdong Liu, Yayun Li and Pang Zhang, respectively.

 

(3)                                 The Pledgee is a wholly foreign owned company duly incorporated and existing under the laws of the PRC.

 

(4)                                 The Pledgee and Beijing Company entered into an Amended and Restated Exclusive Technology Consulting and Service Agreement and an Amended and Restated Business Cooperation Agreement (“Services Agreements”) on June 15, 2016.

 

(5)                                 The Pledgor, Richard Qiangdong Liu and the Pledgee entered into an Amended and Restated Loan Agreement on June 15, 2016 (“Loan Agreement”), and entered into an Amended and Restated Exclusive Purchase Option Agreement on June 15, 2016 (“Exclusive Purchase Option Agreement”). In addition, the Pledgor delivered the amended Power of Attorney to the Pledgee on June 15, 2016 (“Power of Attorney”, together with the Services Agreements, Loan Agreement and Exclusive Purchase Option Agreement, collectively referred as “Master Agreement”).

 

 

In order to secure the Pledgor’s performance of his obligations under this Agreement, the Loan Agreement, the Exclusive Purchase Option Agreement and the Power of Attorney, and in order to ensure Beijing Company to be able to perform its obligations under the Services Agreements, the Pledgor hereby pledges all the equity interests held by him in Beijing Company as the guaranty for him and/or Beijing Company’s performance of obligations under the Master Agreement.

 

NOW, THEREFORE, the Parties hereby agree as follows through friendly negotiations:

 

1.                                      Definition

 

Unless otherwise specified herein, the following words shall have the meanings as follows:

 

1.1                               Pledge Right: means the priority right the Pledgee owns, with respect to the proceedings arising from selling at a discount, auction of, or selling off the equity interests pledged by the Pledgor to the Pledgee.

 

1.2                               Pledged Equity Interests: means all the equity interests duly held by the Pledgors in Beijing Company, i.e. 100% equity interests of Beijing Company, as well as all the other rights created over it.

 

1.3                               Term of Pledge: means the period of term specified in Article 3 hereof.

 

1.4                               Event of Default: means any of the circumstances listed in Article 7 hereof.

 

1.5                               Notice of Default: means any notice issued by the Pledgee to the Pledgors in accordance with this Agreement specifying an Event of Default.

 

2.                                      Pledge Right and Scope of Guaranty

 

2.1                               The Pledgor agrees to pledge all the Pledged Equity Interests to the Pledgee as the guaranty for his and/or Beijing Company’s performance of all the obligations under the Master Agreement and all the liabilities of indemnification to the Pledgee which may arise due to the invalidity or cancellation of the Master Agreement. Beijing Company agrees with such equity pledge arrangement.

 

2.2                               The effect of guaranty under the Master Agreement will not be prejudiced by any amendment or change of the Master Agreement. The invalidity or cancellation of the Master Agreement does not impair the validity of this Agreement. In the event that the Master Agreement is deemed as invalid, or cancelled or revoked for any reason, the Pledgee is entitled to realized its pledge right in accordance with Article 8 hereof.

 

3.                                      Creation and Term of Pledge

 

3.1                               The Pledge Right hereunder shall be reflected on the register of shareholders and the capital contribution certificate in accordance with the form as attached to this Agreement.

 

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3.2                               The term of the Pledge Right is two (2) years effective from the registration of pledge of equity interests with the Administration for Industry and Commerce of the place where Beijing Company is registered, till the day on which all the obligations under the Master Agreement are fully performed (“Term of Pledge”).

 

3.3                               During the Term of Pledge, if the Pledgor and/or Beijing Company fails to perform any obligation under or arising from the Master Agreement, the Pledgee has the right to dispose of the Pledge Right in accordance with Article 8 hereof.

 

4.                                      Possession of Pledge Certificates

 

4.1                               The Pledgor shall deliver the register of shareholders and capital contribution certificate of Beijing Company which reflects the pledge of equity interests as mentioned in above Article 3 within three (3) business days upon the pledge is recorded on such documents, to the Pledgee for its possession, and the Pledgee is obligated to keep the received pledge documents.

 

4.2                               The Pledgee is entitled to all the proceeds in cash including the dividends and all the other non-cash proceeds arising from the Pledge Equity Interests since June 15, 2016.

 

5.                                      Representations and Warranties of the Pledgor

 

5.1                               The Pledgor is the legal owner of Pledged Equity Interests.

 

5.2                               Once the Pledgee intends to exercise the rights of the Pledgee under this Agreement anytime, it shall be protected from any interference from any other party.

 

5.3                               The Pledgee has the right to dispose of or transfer the Pledge Right in the way as described hereunder.

 

5.4                               The Pledgor has never created any other pledge right or any other third party right over the equity interests except towards the Pledgee.

 

6.                                      Covenants from the Pledgors

 

6.1                               During the term of this Agreement, the Pledgor covenants to the Pledgee as follows:

 

6.1.1                     Without prior written consent of the Pledgee, the Pledgor should not transfer the Pledged Equity Interests, or create or allow creation of any new pledge or any other security upon the Pledged Equity Interests which may impair the rights and/or interest of the Pledgee, except for the transfer of equity interests to the Pledgee or the person designated by the Pledgee in accordance with the Exclusive Purchase Option Agreement.

 

6.1.2                     The Pledgor shall abide by and exercise all the provisions of laws and regulations in relation to the pledge of rights, and shall present the Pledgee any and all notices, directions or suggestions issued by related competent authorities within two (2) days upon the receipt of such notices, directions or suggestions, and shall comply with such notices, directions or suggestions, or present its opposite opinions and representations regarding the above mentioned issues according to the reasonable request of the Pledgee or with the consent from the Pledgee;

 

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6.1.3                     The Pledgor shall give prompt notice to the Pledgee regarding any occurrence or received notice which may influence the equity interests or any part of the equity interests held by the Pledgee, or may change any warranties or obligations of the Pledgor under this Agreement or may influence the performance of obligations by the Pledgor hereunder.

 

6.2                               The Pledgor agrees that, the right of the Pledgee to exercise of Pledge Right hereunder in accordance with this Agreement, shall not be interfered or impaired by any legal proceedings taken by the Pledgor, or the successor or designated person of the Pledgor or any other person.

 

6.3                               The Pledgor warrants to the Pledgee that, in order to protect or consummate the guaranty provided by this Agreement regarding the performance of the Master Agreement, the Pledgor will faithfully sign, or cause any other party which is materially related to the Pledge Right to sign, any and all right certificates and deeds, and/or take, or cause any other party which is materially related to the Pledge Right to take, any and all actions, reasonably required by the Pledgee, and will facilitate the exercise of the rights and authorizations granted to the Pledgee under this Agreement, enter into any change to related equity certificate with the Pledgee or the Pledgee’s designated person (individual/legal person), and provide to the Pledgee any and all notices, orders and decisions as deemed necessary by the Pledgee.

 

6.4                               The Pledgor undertakes to the Pledgee he will abide by and perform all representations, warranties and undertakings to protect the interests of the Pledgee. The Pledgor shall indemnify the Pledgee any and all losses suffered by the Pledgee due to the Pledgor’s failure or partial failure in performance of his representations, warranties or undertakings.

 

6.5                               The Pledgor covenants to the Pledgee that he assumes several and joint liabilities with respect to the obligations hereunder.

 

6.6                               The Pledgor irrevocably agrees to waive the preemptive right with respect to the Pledged Equity Interests pledged by other shareholders of Beijing Company to the Pledgee, as well as the transfer of equity interests due to the exercise of Pledge Right by the Pledgee.

 

7.                                      Event of Default

 

7.1                               Any of the following is deemed as a Event of Default:

 

7.1.1                     Beijing Company fails to perform its obligations under the Master Agreement;

 

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7.1.2                     Any representation or warranty of the Pledgor under this Agreement is substantially misleading or untrue, and/or the Pledgor breaches any of his representations and warranties under this Agreement;

 

7.1.3                     The Pledgor breaches his covenants hereunder;

 

7.1.4                     The Pledgor breaches any provision hereof;

 

7.1.5                     Except that the Pledgor transfers the equity interests to the Pledgee or the Pledgee’s designated person in accordance with the Exclusive Purchase Option Agreement, the Pledgor waives the Pledged Equity Interests or transfers the Pledged Equity Interests without the written consent from the Pledgee;

 

7.1.6                     Any external borrowings, guaranty, indemnification, undertakings or any other liabilities of the Pledgor (1) is required to be repaid or exercised early due to its default; or (2) is not repaid or exercised when due, which makes the Pledgee reasonably believes that the ability of the Pledgor to perform his obligations under this Agreement has been impaired.

 

7.1.7                     The Pledgor fails to repay general debts or other liabilities;

 

7.1.8                     This Agreement is deemed to be illegal with promulgation of related laws, or the Pledgor is unable to continue to perform his obligations hereunder;

 

7.1.9                     The consent, permit, approval or authorization from the competent authorities for making this Agreement enforceable, legal or valid is revoked, suspended, invalidated or materially amended;

 

7.1.10              Adverse change occur with respect to the assets of the Pledgor, which makes the Pledgee reasonably believes that the ability of the Pledgor to perform his obligations under this Agreement has been impaired.

 

7.1.11              Successor of the Pledgor or Beijing Company can only perform part of, or refuses to perform, its obligations under this Agreement.

 

7.1.12              Other circumstances occur which make the Pledgee unable to exercise or dispose of the Pledge Right in accordance with related laws.

 

7.2                               In the event that is aware of or discover that any issue described in the above Article 7.1 or any other issue which may cause the occurrence of such mentioned issues has occurred, the Pledgor shall give a prompt written notice to the Pledgee.

 

7.3                               Unless that the Event of Default specified in above Article 7.1 has been resolved to the satisfaction of the Pledgee, otherwise the Pledgee is entitled to (not obligated to) serve a Notice of Default to the Pledgor immediately following or any time after the occurrence of the Event of Default, to require the Pledgor and Beijing Company to immediately perform its obligations under the Master Agreement (including without limitation to payment of the due and unpaid debts and other amounts payable under the Services Agreements) or dispose of the Pledge Right in accordance with Article 8 hereof.

 

5

 

8.                                      Exercise of Pledge Right

 

8.1                               Prior to the fulfillment of performance of the obligations under the Master Agreement, the Pledgor should not transfer the Pledged Equity Interests without the written consent of the Pledgee.

 

8.2                               In the event of occurrence of the Event of Default described in above Article 7, the Pledgee shall give a Notice of Default to the Pledgor when exercising the Pledge Right. The Pledgee may exercise the right to dispose of the Pledge Right at the same time of or any time after the service of the Notice of Default.

 

8.3                               The Pledgee has the right to sell in accordance with legal procedure or dispose of in the other way allowed by law the Pledged Equity Interests hereunder. If the Pledgee decides to exercise the Pledge Right, the Pledgor undertakes to transfer all of his shareholder rights to the Pledgee for exercise. In addition, the Pledgee has the priority to receive the proceedings arising from selling at a discount, auction of, or selling off the equity interests pledged by the Pledgor to the Pledgee according to the legal proceedings.

 

8.4                               When the Pledgee is disposing of the Pledge Right in accordance with this Agreement, the Pledgor should not create any obstacle, and shall provide any necessary assistance to help the Pledgee to realize the Pledge Right.

 

9.                                      Transfer of Agreement

 

9.1                               Unless with the prior consent from the Pledgee, the Pledgor has no right to grant or transfer any of his rights and obligations hereunder.

 

9.2                               This Agreement is binding upon the Pledgor and his successor, as well as the Pledgee and its successors and assignees permitted by the Pledgee.

 

9.3                               The Pledgee is entitled to transfer any or all rights and obligations under the Master Agreement to any person (individual/legal person) designated by it at anytime. Under this circumstance, the assignee has the same rights and obligations as the Pledgee under this Agreement, as if such rights and obligations are granted to it as a party to this Agreement. When transferring the rights and obligations under the Services Agreements, this Agreement, the Loan Agreement, the Exclusive Purchase Option Agreement and/or Power of Attorney, the Pledgors shall sign any and all related agreement and/or documents as required by the Pledgee.

 

9.4                               With the change of pledgee due to the transfer, all the parties to the new pledge shall enter into a new pledge contract, which shall be substantially same to this Agreement in the content and to the satisfaction of the Pledgee.

 

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10.                               Effectiveness and Termination

 

10.1                        This Agreement becomes effective on the date hereof. All Parties agree and confirm that the terms and conditions hereof become effective since June 15, 2016. This Agreement will supersede the Original Equity Pledge Agreement reached among the parties prior to the conclusion of this Agreement.

 

10.2                        The Parties confirm that whether the pledge hereunder has been registered and recorded or not will not impair the effectiveness and validity of this Agreement.

 

10.3                        This Agreement will terminate two (2) years after the Pledgor and /or Beijing Company no longer assume any liability under or arising from the Master Agreement.

 

10.4                        Release of pledge shall be recorded accordingly on the register of shareholders of Beijing Company and related deregistration formalities shall be proceeded with at the Administration for Industry and Commerce of the place where Beijing Company is registered.

 

11.                               Processing Fee and Other Costs

 

All fees and actual costs related to this Agreement, including not limited to legal fees, processing fee, duty stamp and all the other related taxes and expenses shall be borne by the Pledgor. If related taxes is borne by the Pledgee in accordance with laws, then the Pledgor shall fully indemnify the Pledgee all the taxes withheld by the Pledgee.

 

12.                               Force Majeure

 

12.1                        “Force Majeure Event” shall mean any event beyond the reasonable controls of the Party so affected, which are unpredictable, unavoidable, irresistible even if the affected Party takes a reasonable care, including but not limited to governmental acts, Act of God, fires, explosion, geographical variations, storms, floods, earthquakes, morning and evening tides, lightning or wars, riot, strike, and any other such events that all Parties have reached a consensus upon. However, any shortage of credits, funding or financing shall not be deemed as the events beyond reasonable controls of the affected Party.

 

12.2                        In the event that the performance of this Agreement is delayed or interrupted due to the said Force Majeure Event, the affected Party shall be excused from any liability to the extent of the delayed or interrupted performance. The affected Party which intends to seek exemption from its obligations of performance under this Agrement or any provision of this Agreement shall immediately inform the other Party of such a Force Majeure Event and the measures it needs to take in order to complete its performance.

 

13.                               Dispute Resolution

 

13.1                        The formation, validity, performance and interpretation of this Agreement and the disputes resolution under this Agreement shall be governed by the PRC laws.

 

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13.2                        The Parties shall strive to settle any dispute arising from or in connection with this Agreement through friendly consultation. In case no settlement can be reached through consultation within thirty (30) days after the request for consultation is made by any Party, any Party can submit such matter to China International Economic and Trade Arbitration Commission for arbitration in accordance with its then effective rules. The arbitration shall take place in Beijing. The arbitration award shall be final and binding upon all the Parties.

 

14.                               Notices

 

Notices or other communications required to be given by any Party pursuant to this Agreement shall be made in writing and delivered personally or sent by mail or facsimile transmission to the addresses of the other Parties set forth below or other designated addresses notified by such other Parties to such Party from time to time. The date when the notice is deemed to be duly served shall be determined as the follows: (a) a notice delivered personally is deemed duly served upon the delivery; (b) a notice sent by mail is deemed duly served on the seventh (7th) day after the date when the air registered mail with postage prepaid has been sent out (as is shown on the postmark), or the fourth (4th) day after the delivery date to the internationally recognized courier service agency; and (c) a notice sent by facsimile transmission is deemed duly served upon the receipt time as is shown on the transmission confirmation of relevant documents.

 

If to the Pledgee: Beijing Jingdong Century Trade Co., Ltd.

 

Address:                                                 Room B168, Building 2, No. 99, Kechuang 14 Street, 
                                                                                                 Beijing Economic and Technological Development Zone,

                                                                                                Beijing
 Phone:                                                          010-58955008 
 Facsimile:                                         010-58955990
 Attention:                                         Richard Qiangdong Liu

 

If to the Pledgors: Richard Qiangdong Liu

 

Address:                                                 Room B168, Building 2, No. 99, Kechuang 14 Street, 
                                                                                                 Beijing Economic and Technological Development Zone, 
                                                                                                 Beijing
 Phone:                                                          010-58955008 
 Facsimile:                                         010-58955990

 

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Pang Zhang

 

Address:                                                 Room B168, Building 2, No. 99, Kechuang 14 Street, 
                                                                                                 Beijing Economic and Technological Development Zone, 
                                                                                                 Beijing
 Phone:                                                          010-58955008 
 Facsimile:                                         010-58955990

 

Yayun Li

 

Address:                                                 Room B168, Building 2, No. 99, Kechuang 14 Street, 
                                                                                                 Beijing Economic and Technological Development Zone, 
                                                                                                 Beijing
 Phone:                                                          010-58955008 
 Facsimile:                                         010-58955990

 

15.                               Miscellaneous

 

15.1                        The headings contained in this Agreement are for the convenience of reference only and shall not be used to interpret, explain or otherwise affect the meaning of the provisions of this Agreement.

 

15.2                        The Parties agree to promptly execute any document and take any other action reasonably necessary or advisable to perform provisions and purpose of this Agreement.

 

15.3                        The Parties confirm that this Agreement shall, upon its effectiveness, constitute the entire agreement and common understanding of the Parties with respect to the subject matters herein and fully supersede all prior verbal and/or written agreements and understandings with respect to the subject matters herein.

 

15.4                        The Parties may amend and supplement this Agreement in writing. Any amendment and/or supplement to this Agreement duly signed by the Parties is an integral part of and has the same effect with this Agreement.

 

15.5                        Any Party’s failure to exercise the rights under this Agreement in time shall not be deemed as its waiver of such rights and would not affect its future exercise of such rights.

 

15.6                        If any provision of this Agreement is held void, invalid or unenforceable by a court of competent jurisdiction, governmental agency or arbitration authority, the validity, legality and enforceability of the other provisions hereof shall not be affected or impaired in any way. The Parties shall cease performing such void, invalid or unenforceable provisions and revise such void, invalid or unenforceable provisions only to the extent closest to the original intention thereof to recover its validity or enforceability for such specific facts and circumstances.

 

15.7                        Any schedule hereto is an integral part of and has the same effect with this Agreement.

 

9

 

15.8                        This Agreement is made in five (5) originals with each Party holding one (1) original. And other originals are submitted to the AIC for proceeding with the formalities of registration of pledge of equity interests.

 

[No text below]

 

10

 

(Signature Page)

 

IN WITNESS THEREOF, each Party has signed or caused its legal representative to sign this Agreement as of the date first written above.

 

	
Party A: Beijing Jingdong   Century Trade Co., Ltd.
    	
 
    
	
(seal)
    	
 
    
	
 
    	
 
    
	
By: 
    	
/s/ Richard Qiangdong Liu
    	
 
    
	
 
    	
 
    	
 
    
	
Party B: Richard Qiangdong Liu
    	
 
    
	
 
    	
 
    
	
By: 
    	
/s/ Richard Qiangdong Liu
    	
 
    
	
 
    	
 
    	
 
    
	
Yayun Li
    	
 
    
	
 
    	
 
    
	
By: 
    	
/s/ Yayun Li
    	
 
    
	
 
    	
 
    	
 
    
	
Pang Zhang
    	
 
    
	
 
    	
 
    
	
By: 
    	
/s/ Pang Zhang
    	
 
    
	
 
    	
 
    	
 
    
	
Party C: Beijing Jingdong 360   Degree E-Commerce Co., Ltd.
    	
 
    
	
 
    	
 
    
	
By: 
    	
/s/ Beijing Jingdong 360   Degree E-Commerce Co., Ltd.
    	
 
    
	
 
    	
(Seal of Beijing Jingdong   360 Degree E-Commerce Co., Ltd.)
    	
 
    
	
 
    	
 
    
	
By: 
    	
/s/ Richard Qiangdong Liu
    	
 
    

 

Signature page for the Amended and Restated Equity Pledge Agreement

 

11

 

Schedule 1:

 

Register of Shareholders of Beijing Jingdong 360 Degree E-Commerce Co., Ltd.

 

	
Name of
   Shareholder
    	
 
    	
Capital Contribution
   Amount/Shareholding
   Percentage
    	
 
    	
Registration of Pledge
    	
 
    
	
Richard Qiangdong Liu
    	
 
    	
RMB 90,000,000

 

 

 

45%
    	
 
    	
In accordance with the Amended and Restated Equity   Pledge Agreement by and among Richard Qiangdong Liu, Pang Zhang, Yayun Li, Beijing   Jingdong Century Trade Co., Ltd. and Beijing Jingdong 360 Degree   E-Commerce Co., Ltd. dated June 15, 2016, Richard Qiangdong Liu has   pledged all the equity interests held by him to Beijing Jingdong Century   Trade Co., Ltd.
    	
 
    
	
Yayun Li
    	
 
    	
RMB 60,000,000

 

 

 

30%
    	
 
    	
In accordance with the Amended and Restated Equity   Pledge Agreement by and among Richard Qiangdong Liu, Pang Zhang, Yayun Li,   Beijing Jingdong Century Trade Co., Ltd. and Beijing Jingdong 360 Degree   E-Commerce Co., Ltd. dated June 15, 2016, Yayun Li has pledged all   the equity interests held by her to Beijing Jingdong Century Trade   Co., Ltd.
    	
 
    
	
Pang Zhang
    	
 
    	
RMB 50,000,000

 

 

 

25%
    	
 
    	
In accordance with the Amended and Restated Equity   Pledge Agreement by and among Richard Qiangdong Liu, Pang Zhang, Yayun Li,   Beijing Jingdong Century Trade Co., Ltd. and Beijing Jingdong 360 Degree   E-Commerce Co., Ltd. dated June 15, 2016, Pang Zhang has pledged   all the equity interests held by her to Beijing Jingdong Century Trade   Co., Ltd.
    	
 
    

 

	
 
    	
Beijing Jingdong 360 Degree E-Commerce   Co., Ltd. (seal)
    
	
 
    	
 
    
	
 
    	
(Seal of Beijing Jingdong 360 Degree   E-Commerce Co., Ltd.)
    
	
 
    	
/s/ Richard Qiangdong Liu
    
	
 
    	
Legal representative (signature)
    
	
 
    	
Date: June 15, 2016
    

 

12

 

Schedule 2:

 

Beijing Jingdong 360 Degree E-Commerce Co., Ltd.

 

Capital Contribution Certificate

 

(No.: 001)

 

Company: Beijing Jingdong 360 Degree E-Commerce Co., Ltd.
 Date of Incorporation: April 4, 2007
 Registered Capital: RMB 200,000,000
 Shareholder: Richard Qiangdong Liu
 Capital Contributed by Shareholder: RMB 90,000,000

 

In accordance with the Amended and Restated Equity Pledge Agreement by and among Richard Qiangdong Liu, Pang Zhang, Yayun Li, Beijing Jingdong Century Trade Co., Ltd. and Beijing Jingdong 360 Degree E-Commerce Co., Ltd. dated June 15, 2016, Richard Qiangdong Liu has pledged all the equity interests held by him to Beijing Jingdong Century Trade Co., Ltd.

 

	
 
    	
Beijing Jingdong 360 Degree   E-Commerce Co., Ltd. (seal)
    
	
 
    	
 
    
	
 
    	
Signature:
    	
(Seal of Beijing Jingdong   360 Degree
    
	
 
    	
 
    	
E-Commerce Co., Ltd.)
    
	
 
    	
Name: Richard Qiangdong Liu
    
	
 
    	
Title: Legal representative
    
	
 
    	
Date: June 15, 2016
    

 

13

 

Beijing Jingdong 360 Degree E-Commerce Co., Ltd.

 

Capital Contribution Certificate

 

(No.: 002)

 

Company: Beijing Jingdong 360 Degree E-Commerce Co., Ltd.
 Date of Incorporation: April 4, 2007
 Registered Capital: RMB 200,000,000
 Shareholder: Yayun Li
 Capital Contributed by Shareholder: RMB 60,000,000

 

In accordance with the Amended and Restated Equity Pledge Agreement by and among Richard Qiangdong Liu, Pang Zhang, Yayun Li, Beijing Jingdong Century Trade Co., Ltd. and Beijing Jingdong 360 Degree E-Commerce Co., Ltd. dated June 15, 2016, Yayun Li has pledged all the equity interests held by her to Beijing Jingdong Century Trade Co., Ltd.

 

	
 
    	
Beijing Jingdong 360 Degree   E-Commerce Co., Ltd. (seal)
    
	
 
    	
 
    
	
 
    	
Signature:
    	
(Seal of Beijing Jingdong   360 Degree
    
	
 
    	
 
    	
E-Commerce Co., Ltd.)
    
	
 
    	
Name: Richard Qiangdong Liu
    
	
 
    	
Title: Legal representative
    
	
 
    	
Date: June 15, 2016
    

 

14

 

Beijing Jingdong 360 Degree E-Commerce Co., Ltd.

 

Capital Contribution Certificate

 

(No.: 003)

 

Company: Beijing Jingdong 360 Degree E-Commerce Co., Ltd.
 Date of Incorporation: April 4, 2007
 Registered Capital: RMB 200,000,000
 Shareholder: Pang Zhang
 Capital Contributed by Shareholder: RMB 50,000,000

 

In accordance with the Amended and Restated Equity Pledge Agreement by and among Richard Qiangdong Liu, Pang Zhang, Yayun Li, Beijing Jingdong Century Trade Co., Ltd. and Beijing Jingdong 360 Degree E-Commerce Co., Ltd. dated June 15, 2016, Pang Zhang has pledged all the equity interests held by him to Beijing Jingdong Century Trade Co., Ltd.

 

	
 
    	
Beijing Jingdong 360 Degree   E-Commerce Co., Ltd. (seal)
    
	
 
    	
 
    
	
 
    	
Signature:
    	
(Seal of Beijing Jingdong   360 Degree
    
	
 
    	
 
    	
E-Commerce Co., Ltd.)
    
	
 
    	
Name: Richard Qiangdong Liu
    
	
 
    	
Title: Legal representative
    
	
 
    	
Date: June 15, 2016
    

 

15

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