Document:

Specimen Physical Common Stock Certificate

 Exhibit 4.1 

 

 

 

 

 A statement of the designations, voting powers, preferences and relative, participating, optional or other
special rights, and qualifications, limitations or restrictions of such preferences and rights of each class of stock which the Company is authorized to issue is set forth in Article FOURTH of the Certificate of Incorporation, as amended, of the
Company, copies of which Article may be obtained, without charge, from the office of the Company or from the office of the Transfer Agent. 
 Keep this certificate in a safe place. If it is lost, stolen or destroyed the Company will require a bond of indemnity as a condition to the issuance of a replacement certificate. 

 

											
	 TEN COM
	 	–	 	as tenants in common	 	UNIF GIFT MIN ACT/UNIF TRANS MIN ACT	 	–	 	                    Custodian       
           
		 		 		 		 		 	      (Cust)                      
(Minor)
						
	 TEN ENT
	 	–	 	as tenants by the entireties	 		 		 	under Uniform Gifts/Trans to Minors
						
	 JT TEN
	 	–	 	as joint tenants with right of survivorship and not as tenants in common	 		 		 	
Act                        

             (State)

Additional abbreviations may also be used though not in the above list. 
 For value received 
 the undersigned 

hereby sell, assign 
 and transfer unto

  
  
 Please print or typewrite name and address including postal zip code of assignee. 
  

 
  

 
  

 
 Please insert social security or other
identifying number of assignee. 
 Shares 

 
 of the capital stock 

represented by the within 

Certificate, and do hereby 

irrevocably constitute 
 and appoint

 Attorney 

 
 to transfer the said 

stock on the books 
 of the within
named 
 Company with full power 
 of substitution in 
 the premises. 

Dated 
  

 
 X 

 
 Notice: The signature to this assignment must
correspond with the name as written upon the face of the certificate in every particular without alteration or enlargement, or any change whatever. 
  

			
	SIGNATURE(S) GUARANTEED:	 	 
		 	THE SIGNATURE(S) SHOULD BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION (BANKS, STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS AND CREDIT UNIONS WITH MEMBERSHIP IN AN APPROVED
SIGNATURE GUARANTEE MEDALLION PROGRAM), PURSUANT TO S.E.C. RULE 17Ad-15.

  

			
	 AMERICAN BANK NOTE COMPANY
 711 ARMSTRONG LANE
 COLUMBIA, TENNESSEE 38401

(931) 388-3003
	 	 PRODUCTION COORDINATOR: Holly Groner 931-490-7660

PROOF OF: APRIL 1, 2011
 CITIGROUP INC.
 TSB 3455 BK

		 	OPERATOR: JH
		 	NEW

 PLEASE INITIAL THE
APPROPRIATE SELECTION FOR THIS PROOF:         OK AS IS         OK WITH CHANGES         MAKE CHANGES AND SEND
ANOTHER PROOF2010 Share Incentive Plan, effective July 21, 2010

 Exhibit 4.4 
 PERFECT WORLD CO., LTD. 
 2010 SHARE INCENTIVE PLAN 

ARTICLE 1 

PURPOSE 

The purpose of this 2010 Share Incentive Plan (the “Plan”) is to promote the success and enhance the value of Perfect
World Co., Ltd., a company incorporated under the laws of the Cayman Islands (the “Company”) by linking the personal interests of the members of the Board, Employees, and Consultants to those of the Company’s shareholders and
by providing such individuals with an incentive for outstanding performance to generate superior returns to Company shareholders. The Plan is further intended to provide flexibility to the Company in its ability to motivate, attract, and retain the
services of members of the Board, Employees, and Consultants upon whose judgment, interest, and special effort the successful conduct of the Company’s operation is largely dependent. 

ARTICLE 2 

DEFINITIONS AND CONSTRUCTION 
 Wherever the following terms are used in the Plan, they shall have the meanings specified below, unless the context clearly indicates otherwise. The singular pronoun shall include the plural where the
context so indicates. 
 2.1 “Applicable Laws” means (i) the laws of the Cayman Islands as they relate to
the Company and its Shares; (ii) the legal requirements relating to the Plan and the Awards under applicable provisions of the corporate, securities, tax and other laws, rules, regulations and government orders; and (iii) the rules of any
applicable stock exchange, of any jurisdiction applicable to Awards granted to residents therein. 
 2.2
“Award” means an Option, Restricted Share, Restricted Share Unit or any other form of award granted to a Participant pursuant to the Plan. 
 2.3 “Award Agreement” means any written agreement, contract, or other instrument or document evidencing an Award, including through electronic medium. 

2.4 “Board” means the Board of Directors of the Company from time to time. 

2.5 “Code” means the Internal Revenue Code of 1986 of the United States, as amended. 

 2.6 “Committee” means the committee of the Board described in Article 9.

 2.7 “Consultant” means any consultant or adviser if: (a) the consultant or adviser renders bona fide
services to a Service Recipient; (b) the services rendered by the consultant or adviser are not in connection with the offer or sale of securities in a capital-raising transaction and do not directly or indirectly promote or maintain a market
for the Company’s securities; and (c) the consultant or adviser is a natural person who has contracted directly with the Service Recipient to render such services. 
 2.8 “Corporate Transaction” means any of the following transactions or occurrences, provided, however, that the Committee shall determine whether multiple transactions are
related, and its determination shall be final, binding and conclusive: 
 (a) an amalgamation, arrangement,
consolidation or scheme of arrangement (i) in which the Company is not the surviving entity, except for any such transaction the principal purpose of which is to change the jurisdiction in which the Company is incorporated or
(ii) following which the holders of the voting securities of the Company do not continue to hold more than fifty percent (50%) of the combined voting power of the voting securities of the surviving entity; 

(b) the sale, transfer or other disposition of all or substantially all of the assets of the Company (including the
capital stock or other equity securities of the Company’s Subsidiaries and Related Entities); 
 (c) the
completion of a voluntary or insolvent liquidation or dissolution of the Company; 
 (d) the direct or indirect
acquisition by any person or related group of persons (other than the Company or a person that directly or indirectly controls, is controlled by, or is under common control with, the Company) of beneficial ownership (within the meaning of
Rule 13d-3 under the Exchange Act) of securities possessing at least fifty percent (50%) of the total combined voting power of the Company’s outstanding securities; or 

(e) the individuals who, as of the Effective Date, are members of the Board (the “Incumbent Board”),
cease for any reason to constitute at least fifty percent (50%) of the Board; provided that if the election, or nomination for election by the Company’s shareholders, of any new member of the Board is approved by the Incumbent Board
pursuant to the then-effective Articles of Association of the Company, such new member of the Board shall be considered as a member of the Incumbent Board. 
 2.9 “Disability” means that the Participant qualifies to receive long-term disability payments under the Service Recipient’s long-term disability insurance program, as it may be
amended from time to time, to which the Participant provides services regardless of whether the Participant is covered by such policy. If the Service Recipient to which the Participant provides service does not have a long-term disability plan in
place, “Disability” means that a Participant is unable to carry out the responsibilities and functions of the position held by the Participant by reason of any medically determinable physical or mental impairment for a period of not less
than 180 consecutive days. A Participant will not be considered to have incurred a Disability unless he or she furnishes proof of such impairment sufficient to satisfy the Committee in its discretion. 

  
 2 

 2.10 “Effective Date” shall have the meaning set forth in
Section 10.1. 
 2.11 “Employee” means any person, including an officer or member of the Board of the
Company, any Parent, Subsidiary or Related Entity of the Company, who is in the employ of a Service Recipient, subject to the control and direction of the Service Recipient as to both the work to be performed and the manner and method of
performance. The payment of a director’s fee by a Service Recipient shall not be sufficient to constitute “employment” by the Service Recipient. 
 2.12 “Exchange Act” means the Securities Exchange Act of 1934 of the United States, as amended. 
 2.13 “Fair Market Value” means, as of any date, the value of Shares determined as follows: 
 (a) If the Shares are listed on one or more established and regulated stock exchanges or national market systems, including without limitation, The Nasdaq Stock Market, its Fair Market Value shall be the
closing sales price for such shares (or the closing bid, if no sales were reported) as quoted on the principal exchange or system on which the Shares are listed (as determined by the Committee) on the date of determination (or, if no closing sales
price or closing bid was reported on that date, as applicable, on the last trading date such closing sales price or closing bid was reported), as reported in The Wall Street Journal or such other source as the Committee deems reliable;

 (b) If the Shares are regularly quoted on an automated quotation system (including the OTC Bulletin Board) or
by a recognized securities dealer, its Fair Market Value shall be the closing sales price for such shares as quoted on such system or by such securities dealer on the date of determination, but if selling prices are not reported, the Fair Market
Value of a Share shall be the mean between the high bid and low asked prices for the Shares on the date of determination (or, if no such prices were reported on that date, on the last date such prices were reported), as reported in The Wall
Street Journal or such other source as the Committee deems reliable; or 
 (c) In the absence of an
established market for the Shares of the type described in (a) and (b), above, the Fair Market Value thereof shall be determined by the Committee in good faith and in its discretion by reference to (i) the placing price of the latest
private placement of the Shares and the development of the Company’s business operations and the general economic and market conditions since such latest private placement, (ii) other third party transactions involving the Shares and the
development of the Company’s business operation and the general economic and market conditions since such sale, (iii) an independent valuation of the Shares, or (iv) such other methodologies or information as the Committee determines
to be indicative of Fair Market Value, relevant. 

  
 3 

 2.14 “Good Reason” means the occurrence after a Corporate Transaction of
any of the following events or conditions unless consented to by the Participant: 
 (a) a decrease in the
Participant’s base salary and/or a material decrease in his or her standard management bonus plan or employee benefits as in effect at any time within six (6) months preceding the date of a Corporate Transaction or at any time thereafter;

 (b) a material adverse change in the Participant’s title, authority, responsibilities or duties, as
measured against his or her title, authority, responsibilities or duties immediately prior to such change, as in effect at any time within six (6) months preceding the date of a Corporate Transaction or at any time thereafter; 

(c) the imposition of a requirement that such Participant relocate more than sixty (60) miles from his or her current
primary residence, or that the principal place of business of the Company be relocated more than sixty (60) miles from the city of Beijing, China; or 
 (d) death or Disability of the Participant. 
 2.15 “Incentive Share
Option” means an Option that is intended to meet the requirements of Section 422 of the Code or any successor provision thereto. 
 2.16 “Independent Director” means a member of the Board who qualifies as an “independent director” as defined under the Nasdaq Stock Market Rules. 

2.17 “Non-Qualified Share Option” means an Option that is not intended to be an Incentive Share Option. 

2.18 “Option” means a right granted to a Participant pursuant to Article 5 of the Plan to purchase a specified number of
Shares at a specified price during specified time periods. An Option may be either an Incentive Share Option or a Non-Qualified Share Option. 
 2.19 “Participant” means a person who, as a member of the Board, Consultant or Employee, has been granted an Award pursuant to the Plan. 

2.20 “Parent” means a parent corporation under Section 424(e) of the Code. 

2.21 “Plan” means this 2010 Share Incentive Award Plan, as it may be amended from time to time. 

2.22 “Related Entity” means any business, corporation, partnership, limited liability company or other entity in which
the Company, a Parent or Subsidiary of the Company holds a substantial ownership interest, directly or indirectly but which is not a Subsidiary and which the Board designates as a Related Entity for purposes of the Plan. 

2.23 “Restricted Share” means a Share awarded to a Participant pursuant to Article 6 that is subject to certain
restrictions and may be subject to risk of forfeiture. 
 2.24 “Restricted Share Unit” means the right granted
to a Participant pursuant to Article 6 to receive a Share at a future date. 

  
 4 

 2.25 “Securities Act” means the Securities Act of 1933 of the United
States, as amended. 
 2.26 “Service Recipient” means the Company, any Parent or Subsidiary of the Company and
any Related Entity to which a Participant provides services as an Employee, Consultant or as a Director. 
 2.27
“Shares” means Class B Ordinary Shares, par value US$0.0001 per share, of the Company, and such other securities of the Company that may be substituted for Shares pursuant to Article 8. 

2.28 “Subsidiary” means any corporation or other entity of which a majority of the outstanding voting shares or voting
power is beneficially owned directly or indirectly by the Company, including any variable interest entity whose results are consolidated in the Company’s consolidated financial statements. 

ARTICLE 3 

SHARES SUBJECT TO THE PLAN 
 3.1 Number of Shares. 
 (a) Subject to the provisions of
Article 8 and Section 3.1(b), the aggregate number of Shares which may be issued pursuant to all Awards under the Plan shall be 30,000,000. 
 (b) To the extent that an Award terminates, expires, or lapses for any reason, or is settled in cash and not Shares, then any Shares subject to the Award shall again be available for the grant of an Award
pursuant to the Plan. To the extent permitted by Applicable Laws, Shares issued in assumption of, or in substitution for, any outstanding awards of any entity acquired in any form or combination by the Company or any Parent or Subsidiary of the
Company shall not be counted against Shares available for grant pursuant to the Plan. Shares delivered by the Participant or withheld by the Company upon the exercise of any Award under the Plan, in payment of the exercise price thereof or tax
withholding thereon, may again be optioned, granted or awarded hereunder, subject to the limitations of Section 3.1(a). If any Restricted Shares are forfeited by the Participant or repurchased by the Company, such Shares may again be optioned,
granted or awarded hereunder, subject to the limitations of Section 3.1(a). Notwithstanding the provisions of this Section 3.1(b), no Shares may again be optioned, granted or awarded if such action would cause an Incentive Share Option to
fail to qualify as an incentive share option under Section 422 of the Code. 
 3.2 Shares Distributed. Any Shares
distributed pursuant to an Award may consist, in whole or in part, of authorized and unissued Shares or Shares purchased on the open market. Additionally, in the discretion of the Committee, American Depository Shares in an amount equal to the
number of Shares which otherwise would be distributed pursuant to an Award may be distributed in lieu of Shares in settlement of any Award. If the number of Shares represented by an American Depository Share is other than on a one-to-one basis, the
limitations of Section 3.1 shall be adjusted to reflect the distribution of American Depository Shares in lieu of Shares. 

  
 5 

 ARTICLE 4 
 ELIGIBILITY AND PARTICIPATION 
 4.1 Eligibility. Persons eligible to
participate in this Plan include Employees, Consultants, and all members of the Board, as determined by the Committee. 
 4.2
Participation. Subject to the provisions of the Plan, the Committee may, from time to time, select from among all eligible individuals, those to whom Awards shall be granted and shall determine the nature and amount of each Award. No
individual shall have any automatic right to be granted an Award pursuant to this Plan. 
 4.3 Jurisdictions. In order to
assure the viability of Awards granted to Participants employed in various jurisdictions, the Committee may provide for such special terms as it may consider necessary or appropriate to accommodate differences in local law, tax policy, or custom
applicable in the jurisdiction in which the Participant resides or is employed. Moreover, the Committee may approve such supplements to, or amendments, restatements, or alternative versions of, the Plan as it may consider necessary or appropriate
for such purposes without thereby affecting the terms of the Plan as in effect for any other purpose; provided, however, that no such supplements, amendments, restatements, or alternative versions shall increase the share limitations
contained in Section 3.1 of the Plan. Notwithstanding the foregoing, the Committee may not take any actions hereunder, and no Awards shall be granted, that would violate any Applicable Laws. 

ARTICLE 5 

OPTIONS 

5.1 General. The Committee is authorized to grant Options to Participants on the following terms and conditions: 

(a) Exercise Price. The exercise price per Share subject to an Option shall be determined by the Committee and set
forth in the Award Agreement which may be a fixed or variable price related to the Fair Market Value of the Shares; provided, however, that no Option may be granted to an individual subject to taxation in the United States at less than
the Fair Market Value on the date of grant. The exercise price per Share subject to an Option may be amended or adjusted in the absolute discretion of the Committee or the Board, the determination of which shall be final, binding and conclusive. For
the avoidance of doubt, to the extent not prohibited by Applicable Laws (including any applicable exchange rule), a downward adjustment of the exercise prices of Options mentioned in the preceding sentence shall be effective without the approval of
the Company’s shareholders or the approval of the affected Participants. Notwithstanding the foregoing, the exercise price per Share subject to an Option shall not be increased without the approval of the Participants. 

(b) Time and Conditions of Exercise. The Committee shall determine the time or times at which an Option may be
exercised in whole or in part, including exercise prior to vesting; provided that the term of any Option granted under the Plan shall not exceed ten years, except as provided in Section 11.1. The Committee shall also determine any other
conditions, if any, that must be satisfied before all or part of an Option may be exercised. 

  
 6 

 (c) Payment. The Committee shall determine the methods by which the
exercise price of an Option may be paid, the form of payment, including, without limitation (i) cash or check denominated in U.S. Dollars, (ii) to the extent permissible under the Applicable Laws, cash or check in Chinese Renminbi,
(iii) cash or check denominated in any other local currency as approved by the Committee, (iv) Shares held for such period of time as may be required by the Committee in order to avoid adverse financial accounting consequences and having a
Fair Market Value on the date of delivery equal to the aggregate exercise price of the Option or exercised portion thereof, (v) the delivery of a notice that the Participant has placed a market sell order with a broker with respect to Shares
then issuable upon exercise of the Option, and that the broker has been directed to pay a sufficient portion of the net proceeds of the sale to the Company in satisfaction of the Option exercise price; provided that payment of such proceeds
is then made to the Company upon settlement of such sale, (vi) other property acceptable to the Committee with a Fair Market Value equal to the exercise price, or (vii) any combination of the foregoing. Notwithstanding any other provision
of the Plan to the contrary, no Participant shall be permitted to pay the exercise price of an Option in any method which would violate Applicable Law, including without limitation Section 13(k) of the Exchange Act. 

(d) Evidence of Grant. All Options shall be evidenced by an Award Agreement between the Company and the
Participant. The Award Agreement shall include such additional provisions as may be specified by the Committee. 
 5.2
Incentive Share Options. Incentive Share Options may be granted to Employees of the Company, a Parent or Subsidiary of the Company. Incentive Share Options may not be granted to Employees of a Related Entity or to Independent Directors or
Consultants. The terms of any Incentive Share Options granted pursuant to the Plan, in addition to the requirements of Section 5.1, must comply with the following additional provisions of this Section 5.2: 

(a) Expiration of Option. An Incentive Share Option may not be exercised to any extent by anyone after the first to
occur of the following events: 
 (i) Ten years from the date it is granted, unless an earlier time is set in the
Award Agreement; 
 (ii) Three months after the Participant’s termination of employment as an Employee other
than for Disability or death; and 
 (iii) One year after the date of the Participant’s termination of
employment or service on account of Disability or death. Upon the Participant’s Disability or death, any Incentive Share Options exercisable at the Participant’s Disability or death may be exercised by the Participant’s legal
representative or representatives, by the person or persons entitled to do so pursuant to the Participant’s last will and testament, or, if the Participant fails to make testamentary disposition of such Incentive Share Option or dies intestate,
by the person or persons entitled to receive the Incentive Share Option pursuant to the applicable laws of descent and distribution. 

  
 7 

 (b) Individual Dollar Limitation. The aggregate Fair Market Value
(determined as of the time the Option is granted) of all Shares with respect to which Incentive Share Options are first exercisable by a Participant in any calendar year may not exceed US$100,000 or such other limitation as imposed by
Section 422(d) of the Code, or any successor provision. To the extent that Incentive Share Options are first exercisable by a Participant in excess of such limitation, the excess shall be considered Non-Qualified Share Options. 

(c) Exercise Price. The exercise price of an Incentive Share Option shall be equal to the Fair Market Value on the
date of grant. However, an Incentive Share Option shall be granted to any individual who, at the date of grant, owns Shares possessing more than ten percent of the total combined voting power of all classes of shares of the Company only if such
Option is granted at a price that is not less than 110% of Fair Market Value on the date of grant and the Option is exercisable for no more than five years from the date of grant. 

(d) Transfer Restriction. The Participant shall give the Company prompt notice of any disposition of Shares
acquired by exercise of an Incentive Share Option within (i) two years from the date of grant of such Incentive Share Option or (ii) one year after the transfer of such Shares to the Participant. 

(e) Expiration of Incentive Share Options. No Award of an Incentive Share Option may be made pursuant to this Plan
after the tenth anniversary of the Effective Date. 
 (f) Right to Exercise. During a Participant’s
lifetime, an Incentive Share Option may be exercised only by the Participant. 
 ARTICLE 6 

RESTRICTED SHARES AND RESTRICTED SHARE UNITS 
 6.1 Grant of Restricted Shares. The Committee is authorized to make Awards of Restricted Shares and/or Restricted Share Units to any Participant selected by the Committee in such amounts and
subject to such terms and conditions as determined by the Committee. All Awards of Restricted Shares shall be evidenced by an Award Agreement. 
 6.2 Issuance and Restrictions. Restricted Shares shall be subject to such restrictions on transferability and other restrictions as the Committee may impose (including, without limitation,
limitations on the right to vote Restricted Shares or the right to receive dividends on the Restricted Share). These restrictions may lapse separately or in combination at such times, pursuant to such circumstances, in such installments, or
otherwise, as the Committee determines at the time of the grant of the Award or thereafter. 
 6.3 Forfeiture/Repurchase.
Except as otherwise determined by the Committee at the time of the grant of the Award or thereafter, upon termination of employment or service during the applicable restriction period, Restricted Shares that are at that time subject to restrictions
shall be forfeited or repurchased in accordance with the Award Agreement; provided, however, that the Committee may (a) provide in any Restricted Share Award Agreement that restrictions or forfeiture and repurchase conditions
relating to Restricted Shares will be waived in whole or in part in the event of terminations resulting from specified causes, and (b) in other cases waive in whole or in part restrictions or forfeiture and repurchase conditions relating to
Restricted Shares. 

  
 8 

 6.4 Certificates for Restricted Shares. Restricted Shares granted pursuant to the
Plan may be evidenced in such manner as the Committee shall determine. If certificates representing Restricted Shares are registered in the name of the Participant, certificates must bear an appropriate legend referring to the terms, conditions, and
restrictions applicable to such Restricted Shares, and the Company may, at its discretion, retain physical possession of the certificate until such time as all applicable restrictions lapse. 

6.5 Restricted Share Units. At the time of grant, the Committee shall specify the date or dates on which the Restricted Share
Units shall become fully vested and nonforfeitable, and may specify such conditions to vesting as it deems appropriate. At the time of grant, the Committee shall specify the maturity date applicable to each grant of Restricted Share Units which
shall be no earlier than the vesting date or dates of the Award and may be determined at the election of the grantee. On the maturity date, the Company shall, subject to Sections 7.4 and 7.5, transfer to the Participant one unrestricted, fully
transferable Share for each Restricted Share Unit scheduled to be paid out on such date and not previously forfeited. 

ARTICLE 7 

PROVISIONS APPLICABLE TO AWARDS 
 7.1 Award Agreement. Awards under the Plan shall be evidenced by Award Agreements that set forth the terms, conditions and limitations for each Award which may include the term of an Award, the
provisions applicable in the event the Participant’s employment or service terminates, and the Company’s authority to unilaterally or bilaterally amend, modify, suspend, cancel or rescind an Award. 

7.2 Limits on Transfer. No right or interest of a Participant in any Award may be pledged, encumbered, or hypothecated to or in
favor of any party other than the Company or a Subsidiary, or shall be subject to any lien, obligation, or liability of such Participant to any other party other than the Company or a Subsidiary. Except as otherwise provided by the Committee, no
Award shall be assigned, transferred, or otherwise disposed of by a Participant other than by will or the laws of descent and distribution. The Committee by express provision in the Award or an amendment thereto may permit an Award (other than an
Incentive Share Option) to be transferred to, exercised by and paid to certain persons or entities related to the Participant, including but not limited to members of the Participant’s family, charitable institutions, or trusts or other
entities whose beneficiaries or beneficial owners are members of the Participant’s family and/or charitable institutions, or to such other persons or entities as may be expressly approved by the Committee, pursuant to such conditions and
procedures as the Committee may establish. Any permitted transfer shall be subject to the condition that the Committee receive evidence satisfactory to it that the transfer is being made for estate and/or tax planning purposes (or to a “blind
trust” in connection with the Participant’s termination of employment or service with the Company or a Subsidiary to assume a position with a governmental, charitable, educational or similar non-profit institution) and on a basis
consistent with the Company’s lawful issue of securities. 

  
 9 

 7.3 Beneficiaries. Notwithstanding Section 7.2, a Participant may, in the manner
determined by the Committee, designate a beneficiary to exercise the rights of the Participant and to receive any distribution with respect to any Award upon the Participant’s death. A beneficiary, legal guardian, legal representative, or other
person claiming any rights pursuant to the Plan is subject to all terms and conditions of the Plan and any Award Agreement applicable to the Participant, except to the extent the Plan and Award Agreement otherwise provide, and to any additional
restrictions deemed necessary or appropriate by the Committee. If the Participant is married and resides in a community property jurisdiction, a designation of a person other than the Participant’s spouse as his or her beneficiary with respect
to more than 50% of the Participant’s interest in the Award shall not be effective without the prior written consent of the Participant’s spouse. If no beneficiary has been designated or survives the Participant, payment shall be made to
the person entitled thereto pursuant to the Participant’s will or the laws of descent and distribution. Subject to the foregoing, a beneficiary designation may be changed or revoked by a Participant at any time provided the change or revocation
is filed with the Committee. 
 7.4 Share Certificate. Notwithstanding anything herein to the contrary, the Company shall
not be required to issue or deliver any certificates evidencing Shares pursuant to the exercise of any Award, unless and until the Committee has determined, with advice of counsel, that the issuance and delivery of such Shares is in compliance with
all Applicable Laws, regulations of governmental authorities and, if applicable, the requirements of any exchange on which the Shares or securities representing the Shares are listed or traded. All Share certificates delivered pursuant to the Plan
are subject to any stop-transfer orders and other restrictions as the Committee deems necessary or advisable to comply with all Applicable Laws, and the rules of any national securities exchange or automated quotation system on which the Shares or
securities representing the Shares are listed, quoted, or traded. The Committee may place legends on any Share certificate to reference restrictions applicable to the Share. In addition to the terms and conditions provided herein, the Board may
require that a Participant make such reasonable covenants, agreements, and representations as the Board, in its discretion, deems advisable in order to comply with any such laws, regulations, or requirements. The Committee shall have the right to
require any Participant to comply with any timing or other restrictions with respect to the settlement or exercise of any Award, including a window-period limitation, as may be imposed in the discretion of the Committee. 

7.5 Paperless Administration. Subject to Applicable Laws, the Committee may make Awards, provide applicable disclosure and
procedures for exercise of Awards by an internet website or interactive voice response system for the paperless administration of Awards. 
 7.6 Foreign Currency. A Participant may be required to provide evidence that any currency used to pay the exercise price of any Award were acquired and taken out of the jurisdiction in which the
Participant resides in accordance with Applicable Laws, including foreign exchange control laws and regulations. In the event the exercise price for an Award is paid in Chinese Renminbi or other foreign currency, as permitted by the Committee, the
amount payable will be determined by conversion from U.S. dollars at the official rate promulgated by the People’s Bank of China for Chinese Renminbi, or for jurisdictions other than the People’s Republic of China, the exchange rate as
selected by the Committee on the date of exercise. 

  
 10 

 ARTICLE 8 
 CHANGES IN CAPITAL STRUCTURE 
 8.1 Adjustments. In the event of any
share dividend, share split, combination or exchange of Shares, amalgamation, arrangement or consolidation, reorganization of the Company, including the Company becoming a subsidiary in a transaction not involving a Corporate Transaction, spin-off,
recapitalization or other distribution (other than normal cash dividends) of Company assets to its shareholders, or any other change affecting the Shares or the price of a Share, the Committee may make such proportionate and equitable adjustments,
if any, as the Committee in its discretion may deem appropriate to reflect such change with respect to (a) the aggregate number and type of shares that may be issued under the Plan (including, but not limited to, adjustments of the limitations
in Section 3.1 and substitutions of shares in a parent or surviving company); (b) the terms and conditions of any outstanding Awards (including, without limitation, any applicable performance targets or criteria with respect thereto); and
(c) the grant or exercise price per share for any outstanding Awards under the Plan. The form and manner of any such adjustments shall be determined by the Committee in its sole discretion. 

8.2 Outstanding Awards – Corporate Transactions. Except as provided otherwise in an individual Award Agreement or any other
written agreement entered into by and between the Company and a Participant, in the event of a Corporate Transaction: 
 (a) If the Award is either (i) assumed by the successor entity or Parent thereof or replaced with a comparable Award (as determined by the Committee) with respect to shares of the capital stock of
the successor entity or Parent thereof or (ii) replaced with a cash incentive program of the successor entity which preserves the compensation element of such Award existing at the time of the Corporate Transaction and provides for subsequent
payout in accordance with the same vesting schedule applicable to such Award, then such Award (if assumed), the replacement Award (if replaced), or the cash incentive program automatically shall become fully vested, exercisable and payable and be
released from any restrictions on transfer (other than transfer restrictions applicable to Options) and repurchase or forfeiture rights, immediately upon termination of the Participant’s employment or service with all Service Recipients within
twelve (12) months of the Corporate Transaction without cause or voluntarily by the Participant for Good Reason. 
 (b) If a Participant’s Awards are not converted, assumed, or replaced by a successor, as described in clause (a) above, such Awards shall become fully exercisable and all forfeiture restrictions
on such Awards shall lapse immediately prior to the specified effective date of such Corporate Transaction, provided that the Participant remains an Employee, Consultant or member of the Board on the effective date of the Corporate
Transaction. 
 (c) Notwithstanding clause (a) or clause (b) above, upon an occurrence of a Corporate
Transaction set forth in Sections 2.8(d) and 2.8(e), a Participant’s Awards shall become fully exercisable and the forfeiture restrictions with respect to such amount shall lapse. 

  
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 (d) Upon, or in anticipation of, a Corporate Transaction, the Committee may
in its sole discretion provide for (i) any and all Awards outstanding hereunder to terminate at a specific time in the future and shall give each Participant the right to exercise such Awards during a period of time as the Committee shall
determine, (ii) either the purchase of any Award for an amount of cash equal to the amount that could have been attained upon the exercise of such Award or realization of the Participant’s rights had such Award been currently exercisable
or payable or fully vested (and, for the avoidance of doubt, if as of such date the Committee determines in good faith that no amount would have been attained upon the exercise of such Award or realization of the Participant’ s rights, then
such Award may be terminated by the Company without payment), (iii) the replacement of such Award with other rights or property selected by the Committee in its sole discretion or the assumption of or substitution of such Award by the successor
or surviving corporation, or a parent or subsidiary thereof, with appropriate adjustments as to the number and kind of Shares and prices, or (iv) provide for payment of Awards in cash based on the value of Shares on the date of the Corporate
Transaction plus reasonable interest on the Award through the date such Award would otherwise be vested or have been paid in accordance with its original terms, if necessary to comply with Section 409A of the Code. 

8.3 Outstanding Awards – Other Changes. In the event of any other change in the capitalization of the Company or corporate
change other than those specifically referred to in this Article 8, the Committee may, in its absolute discretion, make such adjustments in the number and class of shares subject to Awards outstanding on the date on which such change occurs and in
the per share grant or exercise price of each Award as the Committee may consider appropriate to prevent dilution or enlargement of rights. 
 8.4 No Other Rights. Except as expressly provided in the Plan, no Participant shall have any rights by reason of any subdivision or consolidation of shares of any class, the payment of any
dividend, any increase or decrease in the number of shares of any class or any dissolution, liquidation, merger, or consolidation of the Company or any other corporation. Except as expressly provided in the Plan or pursuant to action of the
Committee under the Plan, no issuance by the Company of shares of any class, or securities convertible into shares of any class, shall affect, and no adjustment by reason thereof shall be made with respect to, the number of shares subject to an
Award or the grant or exercise price of any Award. 
 ARTICLE 9 

ADMINISTRATION 
 9.1 Committee. The Plan shall be administered by the Board or the Compensation Committee of the Board; provided, however that the Board or the Compensation Committee may delegate to a
committee of one or more members of the Board the authority to grant or amend Awards to Participants other than Independent Directors and executive officers of the Company. If the Plan is administered by the Compensation Committee of the Board, the
Committee shall consist of at least two individuals, each of whom qualifies as an Independent Director. Reference to the Committee shall refer to the Board if the Plan is administered by the Board or if the Compensation Committee ceases to exist and
the Board does not appoint a successor Committee. Notwithstanding the foregoing, the full Board, acting by majority of its members in office shall conduct the general administration of the Plan if required by Applicable Laws, and with respect to
Awards granted to Independent Directors and for purposes of such Awards the term “Committee” as used in the Plan shall be deemed to refer to the Board. 

  
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 9.2 Action by the Committee. A majority of the Committee shall constitute a quorum.
The acts of a majority of the members present at any meeting at which a quorum is present, and acts approved in writing by a majority of the Committee in lieu of a meeting, shall be deemed the acts of the Committee. Each member of the Committee is
entitled to, in good faith, rely or act upon any report or other information furnished to that member by any officer or other employee of the Company or any Subsidiary, the Company’s independent certified public accountants, or any executive
compensation consultant or other professional retained by the Company to assist in the administration of the Plan. 
 9.3
Authority of Committee. Subject to any specific designation in the Plan, the Committee has the exclusive power, authority and discretion to: 
 (a) Designate eligible Employees, members of the Board and Consultants to receive Awards; 
 (b) Determine the type or types of Awards to be granted to each Participant; 
 (c) Determine the number of Awards to be granted and the number of Shares to which an Award will relate; 
 (d) Determine the terms and conditions of any Award granted pursuant to the Plan, including, but not limited to, the exercise price, grant price, or purchase price, any restrictions or limitations on the
Award, any schedule for lapse of forfeiture restrictions or restrictions on the exercisability of an Award, and accelerations or waivers thereof, any provisions related to non-competition and recapture of gain on an Award, based in each case on such
considerations as the Committee in its sole discretion determines; 
 (e) Determine whether, to what extent, and
pursuant to what circumstances an Award may be settled in, or the exercise price of an Award may be paid in, cash, Shares, other Awards, or other property, or an Award may be canceled, forfeited, or surrendered (whether or not in exchange for
another Award or combination of Awards); 
 (f) Prescribe the form of each Award Agreement, which need not be
identical for each Participant; 
 (g) Decide all other matters that must be determined in connection with an
Award; 
 (h) Establish, adopt, or revise any rules and regulations as it may deem necessary or advisable to
administer the Plan; 
 (i) Interpret the terms of, and any matter arising pursuant to, the Plan or any Award
Agreement; and 

  
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 (j) Make all other decisions and determinations that may be required
pursuant to the Plan or as the Committee deems necessary or advisable to administer the Plan. 
 9.4 Decisions Binding.
The Committee’s interpretation of the Plan, any Awards granted pursuant to the Plan, any Award Agreement and all decisions and determinations by the Committee with respect to the Plan are final, binding, and conclusive on all parties.

 ARTICLE 10 
 EFFECTIVE AND EXPIRATION DATE 
 10.1 Effective Date. The Plan is
effective as of the date it is adopted and approved by the Board (the “Effective Date”). The Plan shall be ratified by the shareholders of the Company at a meeting duly held in accordance with the applicable provisions of the
Company’s Memorandum and Articles of Association within 12 months of the Effective Date. No Shares shall be issued pursuant to Awards granted under the Plan prior to such ratification of the Plan by the shareholders of the Company. In the event
that the Plan is not ratified by the shareholders of the Company at such meeting, all Awards granted prior to such meeting shall be null and void. 
 10.2 Expiration Date. The Plan will expire on, and no Award may be granted pursuant to the Plan after, the tenth anniversary of the Effective Date. Any Awards that are outstanding on the tenth
anniversary of the Effective Date shall remain in force according to the terms of the Plan and the applicable Award Agreement. 

ARTICLE 11 

AMENDMENT, MODIFICATION, AND TERMINATION 
 11.1 Amendment, Modification, And Termination. With the approval of the Board, at any time and from time to time, the Committee may terminate, amend or modify the Plan; provided,
however, that (a) to the extent necessary and desirable to comply with Applicable Laws, or stock exchange rules, the Company shall obtain shareholder approval of any Plan amendment in such a manner and to such a degree as required, unless
the Company decides to follow home country practice, and (b) unless the Company decides to follow home country practice, shareholder approval is required for any amendment to the Plan that (i) increases the number of Shares available under
the Plan (other than any adjustment as provided by Article 8), (ii) permits the Committee to extend the term of the Plan or the exercise period for an Option beyond ten years from the date of grant, or (iii) results in a material increase
in benefits or a change in eligibility requirements. 
 11.2 Awards Previously Granted. Except with respect to amendments
made pursuant to Section 12.15, no termination, amendment, or modification of the Plan shall adversely affect in any material way any Award previously granted pursuant to the Plan without the prior written consent of the Participant.

  
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 ARTICLE 12 
 GENERAL PROVISIONS 
 12.1 No Rights to Awards. No Participant,
employee, or other person shall have any claim to be granted any Award pursuant to the Plan, and neither the Company nor the Committee is obligated to treat Participants, employees, and other persons uniformly. 

12.2 No Shareholders Rights. No Award gives the Participant any of the rights of a Shareholder of the Company unless and until
Shares are in fact issued to such person in connection with such Award. 
 12.3 Taxes. No Shares shall be delivered under
the Plan to any Participant until such Participant has made arrangements acceptable to the Committee for the satisfaction of any income and employment tax withholding obligations under Applicable Laws. The Company or any Subsidiary shall have the
authority and the right to deduct or withhold, or require a Participant to remit to the Company, an amount sufficient to satisfy all applicable taxes (including the Participant’s payroll tax obligations) required or permitted by law to be
withheld with respect to any taxable event concerning a Participant arising as a result of this Plan. The Committee may in its discretion and in satisfaction of the foregoing requirement allow a Participant to elect to have the Company withhold
Shares otherwise issuable under an Award (or allow the return of Shares) having a Fair Market Value equal to the sums required to be withheld. Notwithstanding any other provision of the Plan, the number of Shares which may be withheld with respect
to the issuance, vesting, exercise or payment of any Award (or which may be repurchased from the Participant of such Award after such Shares were acquired by the Participant from the Company) in order to satisfy all of the Participant’s income
and payroll tax liabilities with respect to the issuance, vesting, exercise or payment of the Award shall, unless specifically approved by the Committee, be limited to the number of Shares which have a Fair Market Value on the date of withholding or
repurchase equal to the aggregate amount of such liabilities based on the minimum statutory income and payroll tax withholding rates that are applicable to such supplemental taxable income under Applicable Laws. 

12.4 No Right to Employment or Services. Nothing in the Plan or any Award Agreement shall interfere with or limit in any way the
right of the Service Recipient to terminate any Participant’s employment or services at any time, nor confer upon any Participant any right to continue in the employ or service of any Service Recipient. 

12.5 Effect of Plan upon Other Compensation Plans. The adoption of the Plan shall not affect any other compensation or incentive
plans in effect for any Service Recipient. Nothing in the Plan shall be construed to limit the right of any Service Recipient: (a) to establish any other forms of incentives or compensation for Employees, members of the Board or Consultants, or
(b) to grant or assume options or other rights or awards otherwise than under the Plan in connection with any proper corporate purpose including without limitation, the grant or assumption of options in connection with the acquisition by
purchase, lease, merger, consolidation or otherwise, of the business, stock or assets of any corporation, partnership, limited liability company, firm or association. 

  
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 12.6 Unfunded Status of Awards. The Plan is intended to be an “unfunded”
plan for incentive compensation. With respect to any payments not yet made to a Participant pursuant to an Award, nothing contained in the Plan or any Award Agreement shall give the Participant any rights that are greater than those of a general
creditor of the Company or any Subsidiary. 
 12.7 Indemnification. To the extent allowable pursuant to applicable law,
each member of the Committee or of the Board shall be indemnified and held harmless by the Company from any loss, cost, liability, or expense that may be imposed upon or reasonably incurred by such member in connection with or resulting from any
claim, action, suit, or proceeding to which he or she may be a party or in which he or she may be involved by reason of any action or failure to act pursuant to the Plan and against and from any and all amounts paid by him or her in satisfaction of
judgment in such action, suit, or proceeding against him or her; provided that he or she gives the Company an opportunity, at its own expense, to handle and defend the same before he or she undertakes to handle and defend it on his or her own
behalf. The foregoing right of indemnification shall not be exclusive of any other rights of indemnification to which such persons may be entitled pursuant to the Company’s Memorandum of Association and Articles of Association, as a matter of
law, or otherwise, or any power that the Company may have to indemnify them or hold them harmless. 
 12.8 Relationship to
other Benefits. No payment pursuant to the Plan shall be taken into account in determining any benefits pursuant to any pension, retirement, savings, profit sharing, group insurance, welfare or other benefit plan of the Company or any Subsidiary
except to the extent otherwise expressly provided in writing in such other plan or an agreement thereunder. 
 12.9
Expenses. The expenses of administering the Plan shall be borne by the Company and its Subsidiaries. 
 12.10 Titles
and Headings. The titles and headings of the Sections in the Plan are for convenience of reference only and, in the event of any conflict, the text of the Plan, rather than such titles or headings, shall control. 

12.11 Fractional Shares. No fractional Share shall be issued and the Committee shall determine, in its discretion, whether cash
shall be given in lieu of fractional shares or whether such fractional shares shall be eliminated by rounding up or down as appropriate. 
 12.12 Government and Other Regulations. The obligation of the Company to make payment of awards in Shares or otherwise shall be subject to all Applicable Laws and to such approvals by government
agencies as may be required. The Company shall be under no obligation to register any of the Shares paid pursuant to the Plan under the Securities Act or any other similar law in any applicable jurisdiction. If the Shares paid pursuant to the Plan
may in certain circumstances be exempt from registration pursuant to the Securities Act or other Applicable Laws, the Company may restrict the transfer of such Shares in such manner as it deems advisable to ensure the availability of any such
exemption. 
 12.13 Governing Law. The Plan and all Award Agreements shall be construed in accordance with and governed
by the laws of the Cayman Islands. 

  
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 12.14 Section 409A. To the extent that the Committee determines that any Award
granted under the Plan is or may become subject to Section 409A of the Code, the Award Agreement evidencing such Award shall incorporate the terms and conditions required by Section 409A of the Code. To the extent applicable, the Plan and
the Award Agreements shall be interpreted in accordance with Section 409A of the Code and the U.S. Department of Treasury regulations and other interpretative guidance issued thereunder, including without limitation any such regulation or other
guidance that may be issued after the Effective Date. Notwithstanding any provision of the Plan to the contrary, in the event that following the Effective Date the Committee determines that any Award may be subject to Section 409A of the Code
and related U.S. Department of Treasury guidance (including such U.S. Department of Treasury guidance as may be issued after the Effective Date), the Committee may adopt such amendments to the Plan and the applicable Award agreement or adopt other
policies and procedures (including amendments, policies and procedures with retroactive effect), or take any other actions, that the Committee determines is necessary or appropriate to (a) exempt the Award from Section 409A of the Code and
/or preserve the intended tax treatment of the benefits provided with respect to the Award, or (b) comply with the requirements of Section 409A of the Code and related U.S. Department of Treasury guidance. 

12.15 Appendices. The Committee may approve such supplements, amendments or appendices to the Plan as it may consider necessary or
appropriate for purposes of compliance with applicable laws or otherwise and such supplements, amendments or appendices shall be considered a part of the Plan; provided, however, that no such supplements shall increase the share
limitations contained in Section 3.1 of the Plan. 
 * * * * * 

I hereby certify that the foregoing Plan was duly adopted by the Board of Directors of Perfect World Co., Ltd. on
                    , 2010. 
 I hereby certify that the foregoing Plan was approved by the shareholders of Perfect World Co., Ltd. on
                    , 2010. 
 Executed on this      day of                     , 2010. 

 

	
	
	  
	Name:
	Title: Director

  
 17

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