Document:

Exhibit 10.26

 

	
 
    	
 
    	
 
    

 

Restructuring Agreement

 

	
 
    	
 
    	
 
    

 

by and among

 

Pintec Holdings Limited

 

and

 

Shareholders as set forth in Schedule A

 

December 1, 2017

 

 

THIS RESTRUCTURING AGREEMENT (the “Agreement”) is entered into on 1st day of December, 2017 in Beijing, People’s Republic of China (“PRC”)

 

by and among

 

(1)                                 Pintec Holdings Limited ( the “Company”) ;

 

(2)                                 Each of the entities as set forth in Schedule A attached hereto (collectively the “Shareholders” and each, a “Shareholder”)

 

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

 

WHEREAS:

 

A.                                    The Company, through its subsidiaries and affiliated entities (together with the Company, the “Original Group Companies”) before the Restructuring (as defined below), engages in, among other businesses, the provision of Dumiao lending solutions and Polaris and Hongdian wealth management solutions (the “Business”).

 

B.                                    The Company wishes to carry out a restructuring by (i) establishing the Pintec Group entities with the shareholding structure of the Pintec Holding Entity (as defined below) mirroring that of the Company; (ii) transferring the assets owned or controlled and the employees employed by the Jimu Group in connection with the Business to the Pintec Group, and (iii) establishing an employee equity compensation plan (the “ESOP”) mirroring that of the Jimu Group (the “Restructuring”).  For the purpose of this Agreement, “Jimu Group” shall mean the Company and its subsidiaries and affiliated entities after the Restructuring, and “Pintec Group” shall mean the Pintec Holding Entity and its subsidiaries and affiliated entities after the Restructuring.

 

C.                                    The Parties agree to carry out the Restructuring in accordance with the terms and conditions set forth herein.

 

NOW, THEREFORE, the Parties have agreed as follows:

 

Article 1   Restructuring

 

1.1.                            Establishment of Pintec Structure

 

An offshore entity shall be established as the holding company and financing platform of the Pintec Group (the “Pintec Holding Entity”).  The Pintec Holding Entity shall set up certain subsidiaries in the British Virgin Islands and Hong Kong, and the Hong Kong subsidiaries shall set up wholly foreign owned entities (the “WFOEs” and each a “WFOE”) under the laws of PRC.

 

1.2.                            Mirroring the Shareholding Structure

 

The Pintec Holding Entity shall issue shares to each of the Founders’ holding companies (“Founders” shall mean DONG Jun (董骏), WEI Wei (魏伟), PENG Xiaomei (彭笑玫), LI Yuyang (李宇阳), Freeman JR Richard Barry, DONG Hao(董浩), ZHOU Jing (周静) and HU Wei (胡伟)) and other Shareholders to mirror the shareholding structure of Company, immediately after which, the shareholding structure of the Company will be the same as the shareholding structure of the Pintec Holding Entity.

 

1

 

1.3.                            Onshore Restructuring

 

All the assets (including the intellectual properties), business agreements, costs and expenses, revenue and receivables attributable to the Business that still remain in the Jimu Group immediately before the Restructuring, shall be transferred to the corresponding companies of the Pintec Group (including the companies to be controlled through contractual arrangements by the Pintec Group). The employees who are engaged in the Business shall establish employment relationships with the Pintec Group in accordance with the schedule agreed between the Jimu Group and the Pintec Group.  The WFOEs shall enter into standard  contractual arrangements with those entities operating the Business that previously had been controlled by companies in the Jimu Group.

 

After the above-mentioned onshore restructurings, the corresponding assets and employees shall be operated in the Pintec Group or the Jimu Group independently.

 

1.4.                            ESOP of Pintec Group

 

The Pintec Holding Entity shall establish an ESOP with the material terms and conditions the same as those in the currently effective ESOP of the Company.  Taking into consideration of the Restructuring, the employees that are granted options under the original ESOP of the Company (the “Participants”) shall be granted options by the Pintec Holding Entity representing the same number of shares as those options held by the Participants under the original ESOP of the Company with the same vesting terms and the vesting commencement date in order to compensate them for the diminution of their interest as a result of the Restructuring.

 

1.5.                            Adjustment of Certain Preference Rights

 

For the purpose of the Restructuring, the Parties hereby agree that the valuation of the Original Group Companies shall be split between the Jimu Group and the Pintec Group to reflect their separate values, and therefore that terms of the preference rights as set forth in the shareholders’ agreement and charter documents of each of the Company and Pintec Holding Entity for which the valuation is relevant, such as the requirement for a qualified public offering and the deemed issue price of preferred shares, shall be adjusted accordingly to reflect the split in the valuation.

 

Article 2    Breach

 

2.1.                            Any Party that breaches its obligations hereunder shall be liable to compensate the other relevant Parties for losses and damages incurred as a result.

 

2

 

Article 3    Termination

 

3.1.                            Event of Termination

 

Except as otherwise provided herein, this Agreement may be terminated in writing by the  consent of all Parties.

 

3.2.                            Effect of Termination

 

The termination of this Agreement shall not affect any rights and obligations which have accrued prior to the termination, provided that nothing herein shall relieve any Party of any liability incurred before the termination of this Agreement.

 

Article 4    Governing Law and Dispute Resolution

 

4.1.                            Governing Law

 

This Agreement shall be governed by and construed exclusively in accordance with the Hong Kong laws, without giving effect to any choice of law rule that would cause the application of the laws of any jurisdiction other than the Hong Kong laws to the rights and duties of the Parties hereunder.

 

4.2.                            Dispute Resolution

 

(a)                       Negotiation Between Parties; Mediation.  The Parties agree to negotiate in good faith to resolve any dispute, controversy, difference or claim arising out of or relating to this Agreement, including the existence, validity, interpretation, performance, breach or termination thereof or any dispute regarding non-contractual obligations arising out of or relating to this Agreement. If the negotiations do not resolve the dispute to the reasonable satisfaction of all Parties within thirty (30) days, Section 4.2 (b) shall apply.

 

(b)                       Arbitration. In the event the Parties are unable to settle a dispute between them regarding this Agreement in accordance with subsection (a) above, such dispute shall be referred to and exclusively settled by arbitration administrated by the Hong Kong International Arbitration Centre (the “HKIAC”) in accordance with the HKIAC Administered Arbitration Rules (the “HKIAC Rules”) in effect when the Notice of Arbitration is submitted, which rules are deemed to be incorporated by reference into this subsection (b). The arbitration tribunal shall consist of three arbitrators to be appointed according to the HKIAC Rules. The law of this arbitration clause shall be Hong Kong law and the seat of arbitration shall be Hong Kong. The arbitration proceedings shall be conducted in English.

 

Article 5    Miscellaneous

 

5.1                               Successors and Assigns.

 

Except as otherwise expressly provided herein, the provisions hereof shall inure to the benefit of, and be binding upon, the successors, assigns, heirs, executors and administrators of the Parties hereto whose rights or obligations hereunder are affected by such amendments.

 

3

 

5.2                               Amendment

 

Any term of this Agreement may be amended only with the written consent of the Parties.

 

5.3                               Delays or Omissions.

 

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

 

5.4                               Interpretation; Titles and Subtitles

 

This Agreement shall be construed according to its fair language. The rule of construction to the effect that ambiguities are to be resolved against the drafting party shall not be employed in interpreting this Agreement. The titles of the sections and subsections of this Agreement are for convenience of reference only and are not to be considered in construing this Agreement. Unless otherwise expressly provided herein, all references to sections and exhibits herein are to sections and exhibits of this Agreement. As used in this Agreement, the words “include” and “including”, and variations thereof, shall not be deemed to be terms of limitation, but rather shall be deemed to be followed by the words “without limitation”.

 

5.5                               Severability

 

If any provision of this Agreement is found to be invalid or unenforceable, then such provision shall be construed, to the extent feasible, so as to render the provision enforceable and to provide for the consummation of the transactions contemplated hereby on substantially the same terms as originally set forth herein, and if no feasible interpretation would save such provision, it shall be severed from the remainder of this Agreement, which shall remain in full force and effect unless the severed provision is essential to the rights or benefits intended by the Parties. In such event, the Parties shall use best efforts to negotiate, in good faith, a substitute, valid and enforceable provision or agreement which most nearly effects the Parties’ intent in entering into this Agreement.

 

4

 

5.6                               Counterparts

 

This Agreement may be executed (including electronic and facsimile signature) in any number of counterparts and may be delivered by electronic PDF or facsimile transmission, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.

 

5.7                               Further Assurances

 

Each Party shall from time to time and at all times hereafter make, do, execute, or cause or procure to be made, done and executed such further acts, deeds, conveyances, consents and assurances without further consideration, which may reasonably be required to effect the transactions contemplated by this Agreement.

 

[Remainder of the page intentionally left blank; signature to follow]

 

5

 

IN WITNESS WHEREOF, the parties have caused their respective duly authorized representatives to execute this Agreement as of the date and year first above written.

 

 

	
 
    	
THE COMPANY:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Pintec Holdings Limited
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By: 
    	
/s/DONG Jun
    
	
 
    	
Name: 
    	
DONG Jun (董骏)
    
	
 
    	
Title: 
    	
Director
    

 

 

IN WITNESS WHEREOF, the parties have caused their respective duly authorized representatives to execute this Agreement as of the date and year first above written.

 

 

	
 
    	
THE SHAREHOLDERS:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Victory Bridge Capital Partners Ltd.
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By: 
    	
/s/DONG Jun
    
	
 
    	
Name: 
    	
DONG Jun (董骏)
    
	
 
    	
Title: 
    	
Director
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Spacelink Holdings Limited
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By: 
    	
/s/WEI Wei
    
	
 
    	
Name: 
    	
WEI Wei (魏伟)
    
	
 
    	
Title: 
    	
Director
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Blue Sky Dynamo Holdings Limited
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By: 
    	
/s/PENG Xiaomei
    
	
 
    	
Name: 
    	
PENG Xiaomei (彭笑玫)
    
	
 
    	
Title: 
    	
Director
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Penny Sun Investment Holdings Ltd.
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By: 
    	
/s/LI Yuyang
    
	
 
    	
Name: 
    	
LI Yuyang (李宇阳)
    
	
 
    	
Title: 
    	
Director
    

 

 

IN WITNESS WHEREOF, the parties have caused their respective duly authorized representatives to execute this Agreement as of the date and year first above written.

 

 

	
 
    	
THE SHAREHOLDERS:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
CH Financial Holdings Ltd.
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By: 
    	
/s/Freeman JR Richard Barry
    
	
 
    	
Name: 
    	
Freeman JR Richard Barry
    
	
 
    	
Title: 
    	
Director
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Bigwave Ventures Limited
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By: 
    	
/s/DONG Hao
    
	
 
    	
Name: 
    	
DONG Hao (董浩)
    
	
 
    	
Title: 
    	
Director
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Lake Magic Investments Limited
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By: 
    	
/s/HU Wei
    
	
 
    	
Name: 
    	
HU Wei (胡伟)
    
	
 
    	
Title: 
    	
Director
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Black Swan Investment Holdings Limited
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By: 
    	
/s/ZHOU Jing
    
	
 
    	
Name: 
    	
ZHOU Jing (周静)
    
	
 
    	
Title: 
    	
Director
    

 

 

IN WITNESS WHEREOF, the parties have caused their respective duly authorized representatives to execute this Agreement as of the date and year first above written.

 

 

	
 
    	
THE SHAREHOLDERS:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Vertex Asia Fund Pte. Ltd.
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By: 
    	
/s/TAY CHOON CHONG
    
	
 
    	
Name: 
    	
TAY CHOON CHONG
    
	
 
    	
Title: 
    	
Managing Director
    

 

 

IN WITNESS WHEREOF, the parties have caused their respective duly authorized representatives to execute this Agreement as of the date and year first above written.

 

 

	
 
    	
THE SHAREHOLDERS:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Peak Capital Advisory Limited
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/BAI YE Feng
    
	
 
    	
Name:
    	
BAI YE Feng
    
	
 
    	
Title:
    	
Director
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
Diversity Ventures Limited
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/BAI YE Feng
    
	
 
    	
Name:
    	
 
    
	
 
    	
Title:
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
Dreamland Ventures Limited
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/Qinghong Cai
    
	
 
    	
Name:
    	
Qinghong Cai
    
	
 
    	
Title:
    	
Director
    

 

 

IN WITNESS WHEREOF, the parties have caused their respective duly authorized representatives to execute this Agreement as of the date and year first above written.

 

 

	
 
    	
THE SHAREHOLDERS:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Magic Stone Hong Tao Alternative Fund, L.P.
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/Jenny ZENG
    
	
 
    	
Name:
    	
 
    
	
 
    	
Title:
    	
 
    

 

 

IN WITNESS WHEREOF, the parties have caused their respective duly authorized representatives to execute this Agreement as of the date and year first above written.

 

 

	
 
    	
THE SHAREHOLDERS:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Investec Bank plc
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/Shi JUN     /s/Ting CHEN
    
	
 
    	
Name:
    	
Shi JUN, Ting CHEN
    
	
 
    	
Title:
    	
Authorised Signatories
    

 

 

IN WITNESS WHEREOF, the parties have caused their respective duly authorized representatives to execute this Agreement as of the date and year first above written.

 

 

	
 
    	
THE SHAREHOLDERS:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
DELIGHT TREASURE HOLDINGS LIMITED
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/Wen Cyrus Jun Ming
    
	
 
    	
Name:
    	
Wen Cyrus Jun Ming
    
	
 
    	
Title:
    	
Director
    

 

 

IN WITNESS WHEREOF, the parties have caused their respective duly authorized representatives to execute this Agreement as of the date and year first above written.

 

 

	
 
    	
THE SHAREHOLDERS:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
PRIME EVER GROUP LIMITED
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/TUNG Sun Tat Clement
    
	
 
    	
Name:
    	
TUNG Sun Tat Clement
    
	
 
    	
Title:
    	
Director
    

 

 

IN WITNESS WHEREOF, the parties have caused their respective duly authorized representatives to execute this Agreement as of the date and year first above written.

 

 

	
 
    	
THE SHAREHOLDERS:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Matrix Partners China III Hong Kong Limited
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/SHAO Yibo
    
	
 
    	
Name:
    	
SHAO Yibo
    
	
 
    	
Title:
    	
Director
    

 

 

IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized representatives to execute this Agreement as of the date and year first above written.

 

 

	
 
    	
THE SHAREHOLDERS:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Zhong Capital Fund, L.P.
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/GUO Jia
    
	
 
    	
Name:
    	
GUO Jia
    
	
 
    	
Title:
    	
Director
    

 

 

IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized representatives to execute this Agreement as of the date and year first above written.

 

 

	
 
    	
THE SHAREHOLDERS:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
CHEER FORTUNE INVESTMENT LIMITED
    
	
 
    	
(福至投資有限公司)
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/GUO Jia
    
	
 
    	
Name:
    	
GUO Jia
    
	
 
    	
Title:
    	
Director
    

 

 

IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized representatives to execute this Agreement as of the date and year first above written.

 

	
 
    	
THE SHAREHOLDERS:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
FUDA INVESTMENT INC.
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/GUO Jia
    
	
 
    	
Name:
    	
GUO Jia
    
	
 
    	
Title:
    	
Director
    

 

 

IN WITNESS WHEREOF, the parties have caused their respective duly authorized representatives to execute this Agreement as of the date and year first above written.

 

 

	
 
    	
THE SHAREHOLDERS:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
VENTECH CHINA S.À R.L.
    
	
 
    	
acting in its capacity as general partner of
    
	
 
    	
VENTECH CHINA II SICAR.
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/GUO Jia
    
	
 
    	
Name:
    	
GUO Jia
    
	
 
    	
Title:
    	
Authorized Signatory
    

 

 

IN WITNESS WHEREOF, the parties have caused their respective duly authorized representatives to execute this Agreement as of the date and year first above written.

 

 

	
 
    	
THE SHAREHOLDERS:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Moon Wan Sun Investments Company Limited
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/Denise LAM
    
	
 
    	
Name:
    	
Denise LAM
    
	
 
    	
Title:
    	
Authorized Signatory
    

 

 

IN WITNESS WHEREOF, the parties have caused their respective duly authorized representatives to execute this Agreement as of the date and year first above written.

 

 

	
 
    	
THE SHAREHOLDERS:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Magic Stone Alternative Private Equity Fund, L.P.
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/Jerry Zeng
    
	
 
    	
Name:
    	
 
    
	
 
    	
Title:
    	
 
    

 

 

IN WITNESS WHEREOF, the parties have caused their respective duly authorized representatives to execute this Agreement as of the date and year first above written.

 

 

	
 
    	
THE SHAREHOLDERS:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Halvorson Ventures Limited
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/BAI Ye FENG
    
	
 
    	
Name:
    	
 
    
	
 
    	
Title:
    	
 
    

 

 

IN WITNESS WHEREOF, the parties have caused their respective duly authorized representatives to execute this Agreement as of the date and year first above written.

 

 

	
 
    	
THE SHAREHOLDERS:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Xiaomi Ventures Limited
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/Wong KONG Kat
    
	
 
    	
Name:
    	
 
    
	
 
    	
Title:
    	
 
    

 

 

IN WITNESS WHEREOF, the parties have caused their respective duly authorized representatives to execute this Agreement as of the date and year first above written.

 

 

	
 
    	
THE SHAREHOLDERS:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Shunwei TMT III Limited
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/Tuck Lye Koh
    
	
 
    	
Name:
    	
Tuch Lye Koh
    
	
 
    	
Title:
    	
Director
    

 

 

IN WITNESS WHEREOF, the parties have caused their respective duly authorized representatives to execute this Agreement as of the date and year first above written.

 

 

	
 
    	
THE SHAREHOLDERS:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Hillingdon Ventures Limited
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/Louis Choy
    
	
 
    	
Name:
    	
Louis Choy
    
	
 
    	
Title:
    	
Director
    

 

 

IN WITNESS WHEREOF, the parties have caused their respective duly authorized  representatives to execute this Agreement as of the date and year first above written.

 

 

	
 
    	
THE SHAREHOLDERS:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Sheen Profit Holdings Limited
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/KENT HO
    
	
 
    	
Name:
    	
KENT HO
    
	
 
    	
Title:
    	
Director
    

 

 

IN WITNESS WHEREOF, the parties have caused their respective duly authorized representatives to execute this Agreement as of the date and year first above written.

 

 

	
 
    	
THE SHAREHOLDERS:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
China eCapital Investment Holdings, Ltd.
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/Ran Wang
    
	
 
    	
Name:
    	
 
    
	
 
    	
Title:
    	
 
    

 

 

IN WITNESS WHEREOF, the parties have caused their respective duly authorized representatives to execute this Agreement as of the date and year first above written.

 

 

	
 
    	
THE SHAREHOLDERS:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Mandra iBase Limited
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/Song-Yi ZHANG
    
	
 
    	
Name:
    	
Song-Yi Zhang
    
	
 
    	
Title:
    	
Director
    

 

 

IN WITNESS WHEREOF, the parties have caused their respective duly authorized representatives to execute this Agreement as of the date and year first above written.

 

 

	
 
    	
THE SHAREHOLDERS:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Woo Foong Hong Limited
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/Song-Yi ZHANG
    
	
 
    	
Name:
    	
Song-Yi Zhang
    
	
 
    	
Title:
    	
Director
    

 

 

Schedule A

 

	
Shareholders
    
	
Victory Bridge Capital   Partners Ltd.
    
	
Spacelink Holdings   Limited
    
	
Blue Sky Dynamo   Holdings Limited
    
	
Penny Sun Investment   Holdings Ltd.
    
	
CH Financial Holdings   Ltd.
    
	
Bigwave Ventures Limited
    
	
Lake Magic Investments   Limited
    
	
Black Swan Investment   Holdings Limited
    
	
Diversity Ventures   Limited
    
	
Dreamland Ventures   Limited
    
	
China eCapital   Investment Holdings, Ltd.
    
	
Peak Capital Advisory   Limited
    
	
Halvorson Ventures   Limited
    
	
Ventech China II SICAR
    
	
Zhong Capital Fund,   L.P.
    
	
CHEER FORTUNE   INVESTMENT LIMITED
   (福至投資有限公司)
    
	
FUDA INVESTMENT INC.
    
	
Moon Wan Sun   Investments Company Limited
    
	
Xiaomi Ventures Limited
    
	
Shunwei TMT III Limited
    
	
Matrix Partners China   III Hong Kong Limited
    
	
Vertex Asia Fund Pte.   Ltd.
    
	
Magic Stone Hong Tao   Alternative Fund, L.P.
    

 

 

	
Magic Stone Alternative   Private Equity Fund, L.P.
    
	
Hillingdon Ventures   Limited
    
	
Sheen Profit Holdings   Limited
    
	
Investec Bank plc
    
	
DELIGHT TREASURE   HOLDINGS LIMITED
    
	
PRIME EVER GROUP   LIMITED
    
	
Woo Foong Hong Limited
    
	
Mandra iBase Limited
    

 

 

Exhibit AExhibit 10.27

 

COOPERATION FRAMEWORK AGREEMENT

 

Between

 

PINTEC TECHNOLOGY HOLDINGS LIMITED

 

And

 

PINTEC HOLDINGS LIMITED

 

Dated as of December 1, 2017

 

 

TABLE OF CONTENTS

 

	
ARTICLE 1   DEFINITIONS
    	
1
    
	
ARTICLE 2   COOPERATION
    	
2
    
	
ARTICLE 3   REPRESENTATIONS AND WARRANTIES
    	
3
    
	
ARTICLE 4 TERM
    	
4
    
	
ARTICLE 5   CONFIDENTIALITY
    	
4
    
	
ARTICLE 6 NOTICES
    	
5
    
	
ARTICLE 7   DEFAULTING LIABILITY
    	
6
    
	
ARTICLE 8 FORCE   MAJEURE
    	
6
    
	
ARTICLE 9   MISCELLANEOUS
    	
7
    

 

i

 

COOPERATION FRAMEWORK AGREEMENT

 

This Cooperation Framework Agreement (this “Agreement”) is dated as ofDecember 1, 2017, by and between Pintec Technology Holdings Limited, a company incorporated under the laws of the Cayman Islands (“Pintec”), and Pintec Holdings Limited, a company incorporated under the laws of the British Virgin Islands (“Jimu”) (each of Pintec and Jimu a “Party” and, together, the “Parties”).

 

Capitalized terms used herein and not otherwise defined shall have the meanings ascribed to such terms in Article 1 hereof.

 

RECITALS

 

WHEREAS, substantially all of the business operations of both Pintec Group and Jimu Group originally were conducted through Jimu;

 

WHEREAS, Pintec contemplates that it will make an initial public offering (“IPO”) pursuant to a draft Registration Statement on Form F-1 to be confidentially submitted for review and comment by the SEC under the Securities Act and to be filed publicly with the SEC via its EDGAR system following the substantial completion of such review and comment and as financial market conditions permit (as so filed, and as amended thereafter from time to time, the “IPO Registration Statement”);

 

WHEREAS, Pintec and Jimu have entered into that certain Master Transaction Agreement, dated as of the date hereof (the “Master Transaction Agreement”), which sets forth and memorializes the principal arrangements between Pintec and Jimu regarding their relationship from and after the filing of the IPO Registration Statement and the consummation of the IPO, including the entering into of this Agreement; and

 

WHEREAS, the Parties desire to continue to cooperate with each other in various aspects of their businesses;

 

NOW, THEREFORE, in consideration of the mutual agreements, covenants and provisions contained in this Agreement, the Parties, intending to be legally bound, agree as follows:

 

ARTICLE 1

 

DEFINITIONS

 

Capitalized terms used and not otherwise defined herein will have the meanings ascribed to such terms in the Master Transaction Agreement. Unless otherwise specified in this Agreement, in this Agreement, the following terms shall have the meanings prescribed thereto below.

 

“Calculation Date” means the last day of each quarter on which date the Common Shareholding shall be calculated.

 

“Common Shareholding” means the aggregate of the “Common Ownership Percentage” of each beneficial owner of shares of Pintec and Jimu. The  “Common Ownership Percentage” of a beneficial owner is the lesser of (i) the percentage of the issued

 

 

and outstanding shares (excluding treasury shares) of Pintec owned by such beneficial owner and (ii) the percentage of the issued and outstanding shares (excluding treasury shares) of Jimu owned by such beneficial owner, provided that (1) only shares recorded on the register of members and shares represented by restricted American depositary shares recorded on the books of the ADR program shall be included in the numerator when calculating such percentage, and (2) a share with multiple beneficial owners shall be attributed to only one such beneficial owner.

 

“Dispute” has the meaning set forth in Section 9.4 of this Agreement.

 

“Dispute Resolution Commencement Date” has the meaning set forth in Section 9.4 of this Agreement.

 

“Governmental Authority” means any federal, state, local, foreign or international court, government, department, commission, board, bureau, agency, official or other regulatory, administrative or governmental authority.

 

“IPO Completion Date” means the closing date of the IPO, on which the delivery of and payment for the securities offered by Pintec (excluding securities offered by Pintec upon underwriter(s)’ exercise of over-allotment option) in connection with the IPO will take place.

 

“Jimu” means Pintec Holdings Limited, a company established under the laws of the British Virgin Islands.

 

“Jimubox” means the peer-to-peer lending platform operated by Jimu and its subsidiaries and VIE.

 

“Jimu Group” means Jimu and its subsidiaries and VIE.

 

“Pintec” has the meaning set forth in the preamble to this Agreement.

 

“Pintec Group” means Pintec and its subsidiaries and VIEs, other than the Jimu Group.

 

“Term” has the meaning prescribed thereto in Section 4.1 hereof.

 

ARTICLE 2

COOPERATION

 

Section 2.1                                    During the Term of this Agreement, Jimu agrees to provide, or cause any other member of the Jimu Group to provide, Pintec Group with services and supports in the following aspects:

 

(a)                       fund the loans to borrowers referred and approved by us up to an aggregate of no less than 50% of all of the loans matched on Jimu Group’s online peer-to-peer lending platform each month.

 

Section 2.2                                    During the Term of this Agreement, Pintec agrees to provide, or cause any other member of the Pintec Group to provide, Jimu Group with services and supports in the following aspects:

 

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(a)                       borrower referral: borrower referral and acquisition through Pintec’s sales network and ecosystem;

 

(b)                       repayment management: repayment management and support; and

 

(c)                        transaction and technology support: technology support, including but not limited to access to Pintec Group’s settlement system and/or any third-party payment platform that is used by Pintec Group, network design, optimization and maintenance, support and upgrade of business support systems, management of information technology equipment, technical support and disaster recovery, and complementary product development, technology and infrastructure support.

 

Section 2.3                                    The Parties further agree the following principles and procedures for service and support in relation to user acquisition:

 

(a)                       As far as borrower acquisition is concerned, Jimu Group shall submit their request for borrower leads to Pintec Group on a monthly basis, and Pintec Group shall provide borrower leads in accordance with the borrower criteria submitted by Jimu Group. Pintec Group shall direct all the borrowers that meet Jimu Group’s borrower criteria to Jimu Group per the aforesaid request, and only when Jimu Group rejects a borrower and so informs Pintec Group can Pintec Group offer the borrower any loan products and services of Pintec Group.

 

(b)                       As far as investor acquisition is concerned, if it comes to Pintec Group’s attention that any of existing or potential investors is interested in or considers investment opportunities through an online consumer finance marketplace, Pintec Group shall, at its discretion, share that information with Jimu Group, or direct such investor to Jimu Group or take other measures as it deems appropriate and advisable for the purposes of supporting, promoting and/or facilitating the business of Jimu Group.

 

Section 2.4                                    The Parties agree that the fee rate, if any, charged by one party to the other party in relation to the foregoing aspects of cooperation shall be negotiated on an arm’s length basis. With respect to the foregoing aspects of cooperation, the Parties will enter into separate specific agreements from time to time as necessary and appropriate for the purpose of cooperation. Terms and conditions of such specific agreements will be subject to the consultation and mutual agreement of the Parties.

 

ARTICLE 3

REPRESENTATIONS AND WARRANTIES

 

Section 3.1                                    Each Party represents and warrants to the other Party that:

 

(a)                       it is a limited liability company lawfully incorporated and validly existing under the laws of the Cayman Islands (in the case of Pintech) or the British Virgin Islands (in the case of Jimu), having independent legal person status;

 

(b)                       it has full and independent legal status and legal capacity to execute, deliver and perform this Agreement, and may be an independent party to a lawsuit;

 

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(c)                        it has full internal corporate power and authorization to execute and deliver this Agreement and all other documents related to the transaction contemplated by this Agreement and to be executed by it, and full power and authorization to consummate the transaction contemplated by this Agreement;

 

(d)                       this Agreement is lawfully and duly executed and delivered by it;

 

(e)                        this Agreement constitutes its lawful and binding obligations, enforceable against it according to the terms of this Agreement; and

 

(f)                         its execution, delivery and performance of this Agreement do not (i) violate its articles of association or any other constitutional documents, (ii) conflict with any agreement or contract or other document to which it is a party or its property is subject, or (iii) violate or conflict with any applicable law.

 

ARTICLE 4

TERM

 

Section 4.1                                    This Agreement shall come into effect on the IPO Completion Date. The valid term of this Agreement (the “Term”) shall end on the later of:

 

(a)                     the date that is fifteen (15) calendar days after the first Calculation Date upon which Common Shareholding between Jimu and Pintec drops below 20%; and

 

(b)                     the fifteenth (15th) anniversary of the IPO Completion Date.

 

Section 4.2                                    At least three (3) months prior to the expiration of the Term set forth above, the Parties shall consult each other on the extension of the Term, which may be extended by the mutual agreement of the Parties in writing.

 

Section 4.3                                    The Parties shall continue to comply with the obligations under Article 5 of this Agreement for one (1) year after termination of this Agreement.

 

ARTICLE 5

CONFIDENTIALITY

 

Section 5.1                                    Subject to Section 5.3, each Party agrees to hold, and to cause its respective directors, officers, employees, agents, accountants, counsel and other advisors and representatives to hold, in strict confidence, with at least the same degree of care that applies to such Party’s confidential and proprietary information pursuant to policies in effect as of the date hereof, all information concerning the other Party that is either in its possession (including information in its possession prior to the date hereof) or furnished by the other Party or its directors, officers, managers, employees, agents, accountants, counsel and other advisors and representatives at any time pursuant to this Agreement or otherwise, and will not use any such information other than for such purposes as will be expressly permitted hereunder or thereunder, except, in each case, to the extent that such information has been (i) in the public domain through no fault of such Party or its directors, officers, managers, employees, agents, accountants, counsel and other advisors and representatives, (ii) later

 

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lawfully acquired from other sources by such Party which sources are not themselves bound by a confidentiality obligation, or (iii) independently generated without reference or prior access to any proprietary or confidential information of the other Party.

 

Section 5.2                                    Each Party agrees not to release or disclose, or permit to be released or disclosed, any information of the other Party to any other Person, except its directors, officers, employees, agents, accountants, counsel and other advisors and representatives who need to know such information (who will be advised of their obligations hereunder with respect to such information), except in compliance with Section 5.3; provided, however, that any information may be disclosed to third parties (who will be advised of their obligation hereunder with respect to such information) retained by the Provider as the Provider reasonably deems necessary to perform its services.

 

Section 5.3                                    In the event that any Party either determines on the advice of its counsel that it is required to disclose any information pursuant to applicable law (including pursuant to any rule or regulation of any Governmental Authority) or receives any demand under lawful process or from any Governmental Authority to disclose or provide information of any other Party that is subject to the confidentiality provisions hereof, such Party will notify the other Party prior to disclosing or providing such information and will cooperate at the expense of such other Party in seeking any reasonable protective arrangements (including by seeking confidential treatment of such information) requested or required by such other Party. Subject to the foregoing, the person that received such a request or determined that it is required to disclose information may thereafter disclose or provide information to the extent required by such law (as so advised by counsel) or by lawful process or such Governmental Authority; provided, however, that such person provides the other Party upon request with a copy of the information so disclosed.

 

ARTICLE 6

NOTICES

 

Section 6.1                                    Any notice, request, demand and other correspondences required by this Agreement or made in accordance with this Agreement shall be delivered in writing to the relevant Party to the following addresses (or at such other address for a party as shall be specified in a notice given in accordance with this Section):

 

if to Pintec:
 216, 2/F East Gate, Pacific Century Place

No.A2 N. GongTi Road,

Chaoyang District, Beijing

The People’s Republic of China

 

if to Jimu:
 A501-505 Yuanyang Guanghua International Building
 No. 10 West Jintong Road, 
 Chaoyang District, Beijing
 The People’s Republic of China

 

or to such other address, facsimile number or email address as the Party to whom notice is given may have previously furnished to the other in writing as provided herein. Any notice involving non-performance or termination shall be sent by hand delivery

 

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or recognized courier. All other notices may also be sent by facsimile or email, confirmed by mail. All notices shall be deemed to have been given when received, if hand delivered; when transmitted, if transmitted by facsimile or email; upon confirmation of delivery, if sent by recognized courier; and upon receipt if mailed.

 

Section 6.2                                    If any of such notice or other correspondences is transmitted by facsimile or telex, it shall be treated as delivered immediately upon transmission; if delivered in person, it shall be treated as delivered at the time of delivery; if posted by mail, it shall be treated as delivered five (5) days after posting.

 

ARTICLE 7

DEFAULTING LIABILITY

 

Section 7.1                                    The Parties agree and confirm that, if any Party (the “Defaulting Party”) substantially violates any agreement herein or substantially fails to perform or delays performance of any of the obligations hereunder, such violation, failure or delay shall constitute a default under this Agreement. The non-defaulting Party shall have the right to request the Defaulting Party to rectify or take remedial actions within a reasonable period. If the Defaulting Party fails to rectify or take remedial actions within such reasonable period or within fifteen (15) days after the non-defaulting Party notifies the Defaulting Party in writing requiring rectification, then the non-defaulting Party is entitled to decide at its own discretion to:

 

(a)                       terminate this Agreement and require the Defaulting Party to indemnify all of its damages; or

 

(b)                       request the Defaulting Party to perform its obligations under this Agreement and require the Defaulting Party to indemnify all of its damages.

 

ARTICLE 8

FORCE MAJEURE

 

If the performance by one Party of this Agreement is directly affected or if one Party cannot perform this Agreement in accordance with the agreed conditions due to any unforeseeable force majeure event or an force majeure event whose consequences cannot be prevented or avoided, including earthquakes, typhoons, floods, fires, wars, computer viruses, design loopholes in software tools, hacker attacks on the Internet, or changes to policies or laws, the affected Party shall immediately give a notice by fax to the other Party and within fifteen (15) days shall provide the other Party with supporting documents released by the relevant government authorities or a reliable third-party source describing the details of the force majeure event, and explain the reason why this Agreement cannot be performed or why the performance needs to be postponed. If the force majeure event lasts more than thirty (30) days, the Parties hereto shall negotiate amicably and as soon as possible determine whether or not part of this Agreement shall be released from performance or whether or not the performance of this Agreement shall be postponed, depending on the degree of impact of this force majeure event on the performance of this Agreement. Each Party shall not be held liable for any economic losses of the other Party caused by such Party’s failure to perform this Agreement due to a force majeure event.

 

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ARTICLE 9

MISCELLANEOUS

 

Section 9.1                                    Each Party shall pay its own costs and expenses incurred in connection with the negotiation, preparation and execution of this Agreement. Each Party shall be responsible for all taxes payable by it under applicable laws incurred from the execution, performance and consummation of transactions as contemplated hereby.

 

Section 9.2                                    This Agreement may not be amended except by an instrument in writing executed by a duly authorized representative of each party.

 

Section 9.3                                    This Agreement shall be governed by, and construed in accordance with, the laws of the State of New York, U.S.A.

 

Section 9.4                                    (a) Any dispute, controversy or claim arising out of or relating to this Agreement or the breach, termination or validity thereof (“Dispute”) which arises between the Parties shall first be negotiated between appropriate senior executives of each Party who shall have the authority to resolve the matter. Such executives shall meet to attempt in good faith to negotiate a resolution of the Dispute prior to pursuing other available remedies, within ten (10) days of receipt by a Party of written notice of a Dispute, which date of receipt shall be referred to herein as the “Dispute Resolution Commencement Date.” Discussions and correspondence relating to trying to resolve such Dispute shall be treated as confidential information and privileged information of each of Pintec and Jimu developed for the purpose of settlement and shall be exempt from discovery or production and shall not be admissible in any subsequent proceeding between the Parties.

 

(b) If the senior executives are unable to resolve the Dispute within thirty (30) days from the Dispute Resolution Commencement Date, then, the Dispute will be submitted to the boards of directors of Pintec and Jimu. Representatives of each board of directors shall meet as soon as practicable to attempt in good faith to negotiate a resolution of the Dispute.

 

(c) If the representatives of the two boards of directors are unable to resolve the Dispute within sixty (60) days from the Dispute Resolution Commencement Date, on the request of any Party, the Dispute will be mediated by a mediator appointed pursuant to the mediation rules of the American Arbitration Association. Both Parties will share the administrative costs of the mediation and the mediator’s fees and expenses equally, and each Party shall bear all of its other costs and expenses related to the mediation, including but not limited to attorney’s fees, witness fees, and travel expenses. The mediation shall take place in Beijing, China or in whatever alternative forum on which the Parties may agree.

 

(d) If the Parties cannot resolve any Dispute through mediation within thirty (30) days after the appointment of the mediator (or the earlier withdrawal thereof), each Party shall be entitled to submit the Dispute to Hong Kong International Arbitration Centre for arbitration in accordance with the Hong Kong International Arbitration Centre Administered Arbitration Rules in force at the time when the Dispute is submitted. There shall be three (3) arbitrators. The third and presiding arbitrator shall be qualified to practice law in New York. The place or seat of arbitration shall be Hong Kong. The award of

 

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the arbitral tribunal shall be final and binding upon the parties thereto, and the prevailing party may apply to a court of competent jurisdiction for enforcement of such award.

 

Unless otherwise agreed in writing, the Parties will continue to honor all commitments under this Agreement during the course of dispute resolution pursuant to the provisions of this Section with respect to all matters not subject to such dispute, controversy or claim.

 

Section 9.5                                    If any term of this Agreement or the Schedules attached hereto is determined by a court, administrative agency or arbitrator to be invalid, illegal or incapable of being enforced by any rule of law or public policy, all other conditions and provisions of this Agreement shall nevertheless remain in full force and effect so long as the economic or legal substance of the transactions contemplated hereby is not affected in any manner materially adverse to any Party. Upon such determination that any term or other provision is invalid, illegal or incapable of being enforced, the Parties hereto shall negotiate in good faith to modify this Agreement so as to effect the original intent of the Parties as closely as possible in an acceptable manner to the end that transactions contemplated hereby are fulfilled to the fullest extent possible.

 

Section 9.6                                    This Agreement shall inure to the benefit of and be binding upon the Parties hereto and their respective legal representatives and successors, and nothing in this Agreement, express or implied, is intended to confer upon any other Person any rights or remedies of any nature whatsoever under or by reason of this Agreement.

 

Section 9.7                                    No Party may assign this Agreement or any rights or obligations hereunder, without the prior written consent of the other Party, and any such assignment shall be void; provided, however, each Party may assign this Agreement to a successor entity in conjunction with such Party’s reincorporation in another jurisdiction or into another business form.

 

Section 9.8                                    The headings contained in this Agreement and in the table of contents to this Agreement are for reference purposes only and shall not affect in any way the meaning or interpretation of this Agreement.

 

Section 9.9                                    This Agreement may be executed in one or more counterparts, each of which shall be deemed to be an original but all of which shall constitute one and the same agreement. Delivery of an executed counterpart of a signature page of this Agreement by facsimile or other electronic imaging means will be effective as delivery of a manually executed counterpart of this Agreement.

 

[Signature page follows]

 

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IN WITNESS WHEREOF, this Cooperation Framework Agreement is executed by the following Parties on the date first written above.

 

	
 
    	
Pintec Technology   Holdings Limited
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By: 
    	
/s/ WEI Wei
    
	
 
    	
Name: WEI Wei
    
	
 
    	
Title: Director
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Pintec Holdings Limited
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By: 
    	
/s/ DONG Jun
    
	
 
    	
Name: DONG Jun
    
	
 
    	
Title: Director
    

 

[Signature Page to Cooperation Framework Agreement]

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