Document:

Exhibit 10.2

 

Zhejiang BEST Technology Co., Ltd.

 

AND

 

Hangzhou Ali Venture Capital Co., Ltd.

 

	
 
    

 

 

LOAN AGREEMENT

 

 

	
 
    

 

 

 

 

 

February 15, 2015

 

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This Loan Agreement (this “Agreement”) is entered into by and between the following two parties on February 15, 2015 in Zhejiang Province, the People’s Republic of China (the “PRC”):

 

Zhejiang BEST Technology Co., Ltd., with its registered address at Room 307, 3/F, 3850 Jiangnan Avenue, Binjiang District, Hangzhou (the “Lender”); and

 

Hangzhou Ali Venture Capital Co., Ltd., with its  registered address at Room 608, Building 3, 1197 Bin’an Road, Binjiang District, Hangzhou (the “Borrower”).

 

The Lender and the Borrower shall be referred to individually as a “Party” or collectively as the “Parties” hereunder.

 

WHEREAS,

 

·                      Hangzhou BEST Network Technologies Co., Ltd. ( “BEST Network”) is a limited liability company organized and existing under the laws of PRC with a registered capital of RMB13,779,800. The Borrower holds 27.4300% equity interest in BEST Network, corresponding to an amount of RMB3,779,800 in the registered capital of BEST Network;

 

·                      The Borrower obtains from the Lender a loan equivalent to RMB3,779,800 for the subscription of BEST Network’s capital increase;

 

·                      In order to clarify rights and obligations between the Borrower and the Lender, both Parties agree to enter into this Loan Agreement, which shall supersede all agreements, contracts or understandings previously concluded by both Parties for the same purpose.

 

NOW THEREFORE, the Parties agree as follows:

 

Section 1 Loan

 

1.1    The Parties acknowledge that the Lender has provided the Borrower with a loan of RMB3,779,800 (the “Loan”).

 

1.2    The Parties acknowledge that the entire Loan has been used to subscribe for BEST Network’s increased capital. Such purposes are acknowledged by the Lender.

 

1.3    The Parties acknowledge that no interest shall accrue in respect of the Loan.

 

1.4    The term of the Loan shall be the same as the term hereof.

 

Section 2 Undertakings of the Borrower

 

2.1    The Borrower hereby undertakes that:

 

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2.1.1                    Without the Lender’s prior written consent, it will not transfer its equity interest in BEST Network, in whole or in part, to any third party, nor will it create or cause to be created any encumbrance in any form on BEST Network’s equity interest.

 

2.1.2                    Unless with the Lender’s prior written consent, it shall at all times effectively maintain its status as BEST Network’s shareholder.

 

2.1.3                    It will, upon the Lender’s request, unconditionally transfer its equity interest in BEST Network to the Lender or any third party designated by the Lender.

 

2.1.4                    It will comply with all laws, regulations, rules and orders from government authorities applicable to the Borrower or BEST Network’s business activities or its assets.

 

2.1.5                    Without the Lender’s prior written consent, it will in no way affect BEST Network’s ordinary operation as a going concern.

 

2.1.6                    It will comply with all other agreements, contracts or undertakings by and between the Borrower and the Lender.

 

Section 3  Repayment of Loan

 

3.1           The Parties agree and acknowledge that, if the Borrower is in no breach of Section 2 hereof, the Lender will not require the Borrower to repay the Loan prior to the Borrower’s transfer of its equity interest in BEST Network or discontinuation of BEST Network’s operation. Otherwise, the Lender shall have the right to request the Borrower to repay the Loan by giving  a seven (7)day prior written notices.

 

3.2           To the extent permitted by the laws, if the Borrower transfers part of its equity interest in BEST Network to the Lender or any third party designated by the Lender in accordance with the Lender’s instructions, then upon transfer of such equity interest and payment of the proceeds from such transfer by the Borrower to the Lender, the Loan of the relevant amount shall be deemed repaid. For the purpose of this Section, such relevant amount shall be calculated in accordance with the formula below:

 

Relevant Amount Deemed Repaid = Loan*( Transferred Equity of BEST Network/Total Equity of BEST Network)

 

3.3           If the Borrower transfers all of its equity interests in BEST Network to the Lender or any third party designated by the Lender, upon transfer of such equity interest  (and the payment of the proceeds from such  transfer by the Borrower to the Lender), the Loan hereunder shall be deemed as having been fully repaid.

 

3.4           The wording “upon transfer of the equity interest in BEST Network” for the purpose of this Section shall mean that the transfer of such equity interest has been approved by competent

 

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government authorities (if required) and the changes to such equity interest have been registered with the administration for industry and commerce, with the Lender or any third party designated by the Lender becoming the lawful holder of the equity of BEST Network.

 

3.5           In the event of BEST Network’s winding-up, liquidation, dissolution or bankruptcy for  any reason not attributable to the Borrower , the Loan hereunder shall be deemed as having been fully repaid  upon the Borrower’s return of all proceeds from the liquidation to the Lender.

 

Section 4  Taxes and Fees

 

All taxes and reasonable expenses in connection with this Agreement, except those expressly stipulated under the PRC laws as to be borne by the Lender or by the Borrower, shall be borne by the Lender.

 

Section 5  Effectiveness and Termination

 

5.1    This Agreement shall take effect once it is duly executed by the Parties.

 

5.2           This Agreement shall terminate once the Borrower’s fully repayment of the Loan hereunder or the Lender’s waiver of its creditor’s rights.

 

Section 6  Applicable Laws and Dispute Resolution

 

6.1           The execution, performance, interpretation and dispute resolution of this Agreement shall be governed by the PRC laws.

 

6.2           All disputes arising out of or in connection with this Agreement or its performance shall first be resolved by the Parties through friendly consultations. If the Parties fail to reach an agreement within thirty (30) days following the occurrence of such dispute, such dispute shall be brought before the competent people’s court of Hangzhou for adjudication.

 

Section 7  Miscellaneous

 

7.1    This Agreement may be supplemented or amended  by a written agreement between the Parties hereto.

 

7.2           If any part of a certain provision hereof is unenforceable as it is in violation of laws, government rules or otherwise, such part shall be deemed as having been deleted, provided that such deletion shall not affect the validity of the remaining part of said provision or other provisions hereof. The Parties hereto shall cease to perform such invalid part of such provision, and shall revise such part of the provision only to the extent valid, enforceable and close to its original meaning.

 

7.3           Unless with the Lender’s prior written consent, the Borrower shall not transfer, in whole or in part, any rights or obligations hereunder, provided that the Lender may transfer its rights and

 

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obligations hereunder to any of the Lender’s affiliates or any other third party without the Borrower’s consent.

 

7.4           This Agreement is made in three (3) counterparts, with each person of the Borrower holding one  and the Lender holding two (2). Each of the counterparts shall be deemed as the original and be equally authentic upon execution.

 

 

 

[The remainder of the page is intentionally left blank.]

 

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[Signature Page]

 

IN WITNESS HEREOF, the Parties have executed this Agreement in person or have caused the same to be executed by their duly authorized representatives on the date first written above, and the Parties agree to comply therewith.

 

 

 

Lender:

Zhejiang BEST Technology Co., Ltd. (Seal)

 

 

 

 

Borrower:

Hangzhou Ali Venture Capital Co., Ltd. (Seal)

 

6Exhibit 10.3

 

	
 
    

 

 

Hangzhou BEST Network Technologies Co., Ltd.

 

AND

 

Zhejiang BEST Technology Co., Ltd.

 

	
 
    

 

AMENDED AND RESTATED

 

EXCLUSIVE TECHNICAL SERVICES AGREEMENT

 

	
 
    

 

 

 

 

 

 

 

June 21, 2017

 

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AMENDED AND RESTATED EXCLUSIVE TECHNICAL SERVICES AGREEMENT

 

This AMENDED AND RESTATED EXCLUSIVE TECHNICAL SERVICES AGREEMENT (this “Agreement”) is entered into in Hangzhou, Zhejiang Province, the People’s Republic of China (the “PRC”) on June 21, 2017.

 

BY AND BETWEEN:

 

	
(1)
    	
Hangzhou BEST Network Technologies Co., Ltd.   (“Party A”) 

Registered address: Commercial Unit 16-17,   Chang Jiang Xi Yuan, Binjiang District, Hangzhou 

Legal representative: Wei   Chen; and
    
	
 
    	
 
    
	
(2)
    	
Zhejiang BEST Technology Co., Ltd. (“Party   B”)

Registered address: Room 307, 3/F, 3850   Jiangnan Avenue, Binjiang District, Hangzhou

Legal representative:   Shao-Ning Johnny Chou
    
	
 
    	
 
    
	
 
    	
(for the purposes of this Agreement, each   a “Party”, collectively the “Parties”)
    

 

W I T N E S S E T H

 

WHEREAS, Party A is a limited liability company registered and lawfully existing in Hangzhou, the PRC, mainly engaged in domestic courier services and technical development and technical services relating to computer network management technology, electronic communication technology and logistics information service technology, as well as in the operation of the Internet information services and other relevant value-added services of the BEST Logistics and BEST Express websites (collectively the “Domestic Websites”);

WHEREAS, Party B is a wholly Hong Kong-invested enterprise registered and lawfully existing in Hangzhou, the PRC, mainly engaged in the research and development of and provision of technical services relating to computer information technology, online logistics technology and wireless communication devices.

WHEREAS, Party A needs Party B to provide it with technical services relating to Party A’s Business (as defined below) and Party B agrees to provide such services to Party A.

WHEREAS, Party A and Party B entered into an Amended and Restated Exclusive Technical Services Agreement on October 12, 2011 with regard to the abovementioned services, and the Parties desire to amend and restate such Amended and Restated Exclusive Technical Services Agreement.

NOW, THEREFORE, upon friendly discussions, the Parties agree as follows:

 

 

	
1.
    	
DEFINITIONS 
    
	
 
    	
 
    
	
1.1.
    	
Unless otherwise specified herein or   otherwise required by the context, the following terms shall have the   following meanings in this Agreement:
    

 

“Party A’s Business” means all of the business activities operated and developed by Party A now and at any time during the term hereof, including, without limitation, domestic courier business operated by Party A and the relevant Internet information services and other relevant value-added services of BEST Logistics.

 

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“Services” means the services to be provided by Party B on an exclusive basis to within its business scope to Party A in relation to Party A’s Business, including, without limitation:

 

(i)                  licensing Party A to use relevant software with respect to which Party B possesses lawful rights and which is required for Party A’s Business ;

 

(ii)               day-to-day management, maintenance and updating of hardware devices and databases;

 

(iii)            development, maintenance and updating of relevant application software required for Party A’s Business;

 

(iv)           providing technical trainings to relevant personnel of Party A;

 

(v)              assisting in the collection and analysis of technical data relating to the websites’ operation, including information of errors and defects, for the purpose of improving the quality of technical services provided hereunder; and

 

(vi)      providing other relevant technical services from time to time upon Party A’s request. 

 

“Annual Business Plan” means Party A’s Business development plan and budget report for the next calendar year to be prepared by Party A with the assistance of Party B in accordance with this Agreement by November 30 of each year.

 

“Service Fees” means all of the fees payable by Party A to Party B under Section 3 hereof in respect of the services provided by Party B.

 

“Devices” means any and all devices owned or acquired from time to time by Party B and utilized for the purpose of the provision of the Services.

 

“Business-Related Technology” means any and all software and technologies developed by Party A on the basis of the Services provided by Party B hereunder in relation to Party A’s Business.

 

“Confidential Information” has the meaning ascribed to it in Section 6.2 hereof.

 

“Defaulting Party” has the meaning ascribed to it in Section 11.1 hereof.

 

“Default” has the meaning ascribed to it in Section 11.1 hereof.

 

“Party Rights” has the meaning ascribed to it in Section 13.5 hereof.

 

1.2.                            In this Agreement, any reference to any laws and regulations (the “Laws”) shall be deemed to also include: 

 

(i) a reference to such Laws as modified, amended, supplemented and/or reenacted, whether effective before or after the date hereof; and 

 

(ii) a reference to any other decisions, circulars or rules made in accordance therewith or effective as a result thereof. 

 

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1.3.
    	
Unless otherwise required by the context,   a reference to a provision, clause, section or paragraph hereunder shall be a   reference to such provision, clause, section or paragraph of this Agreement. 
    

 

 

	
2.
    	
Services 
    
	
 
    	
 
    
	
2.1.
    	
During the term hereof, Party B shall   diligently provide the Services to Party A in accordance with the   requirements of Party A’s Business.
    
	
 
    	
 
    
	
2.2.
    	
Party B shall be equipped with all Devices   and personnel reasonably required for the provision of the Services and   shall, in accordance with Party A’s Annual Business Plan and Party A’s   reasonable requests, procure and purchase new Devices and add additional   personnel so as to meet the need for Party B to provide quality Services to   Party A in accordance with this Agreement.
    
	
 
    	
 
    
	
2.3.
    	
For the purpose of the provision of the   Services hereunder, Party B shall communicate and exchange with Party A the information   pertaining to Party A’s Business.
    

 

 

	
3.
    	
Service Fees
    
	
 
    	
 
    
	
3.1.
    	
In connection with the Services provided   by Party B hereunder, Party A shall pay the Services Fees to Party B pursuant   to the following terms:
    
	
 
    	
 
    
	
 
    	
3.1.1.
    	
Service Fees in an amount equal to 90% of   the total revenue of the current year of Party A after deduction of Party   B-approved reasonable operating costs; and
    
	
 
    	
 
    	
 
    
	
 
    	
3.1.2.
    	
Service Fees to be separately determined   by Party B for specific technical services provided from time to time by   Party B upon Party A’s request. 
    

 

	
3.2.
    	
Party A shall within three months of the   end of each calendar year pay in one lump sum the Service Fees determined in   accordance with Section 3.1 into a bank account designated by Party B.   If Party B changes its bank account, it shall notify Party A in writing seven   (7) business days in advance.
    
	
 
    	
 
    
	
3.3.
    	
The Parties agree that as a matter of principle   payment of aforesaid Service Fees should not cause difficulties to any Party’s   operation of the then current year; in furtherance of the forgoing, to the   extent of the implementation of said principle, Party B may either agree for Party   A to postpone its payment of the Service Fees or adjust in writing the fee   percentage and/or specific amounts of the Service Fees payable by Party A to   Party B under Section 3.1.
    
	
 
    	
 
    
	
 3.4.
    	
During the term hereof, Party B shall have   the right to adjust at its sole discretion aforesaid Service Fees without   Party A’s consent.
    

 

 

	
4.
    	
Party A’s Obligations 
    

 

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4.1.
    	
Party B’s Services hereunder shall be   exclusive in nature. During the term hereof, without Party B’s prior written   consent, Party A shall not enter into any agreement with any third party other   than Party B’s affiliates in connection with services identical or similar to   the Services of Party B or otherwise accept any such services from such third   parties.
    
	
 
    	
 
    
	
4.2.
    	
Party A shall by November 30 of each   year provide Party B with its finalized Annual Business Plan for the next   year such that Party B may arrange for the corresponding Services plan and   procure required software, Devices, personnel and technical services   resources. If Party A needs Party B to procure additional Devices or   personnel on an ad hoc basis, it shall hold consulations with Party B fifteen   (15) days in advance in order for the two parties to reach agreement   thereon.
    
	
 
    	
 
    
	
4.3.
    	
In order to facilitate Party B’s provision   of the Services, Party A shall upon Party B’s request provide Party B with relevant   information in a timely manner .
    
	
 
    	
 
    
	
4.4.
    	
Party A shall in accordance with   Section 3 pay the full amount of the Service Fees to Party B in a timely   manner.
    
	
 
    	
 
    
	
4.5.
    	
Party A shall maintain its good   reputation, actively expand its business and seek the maximization of its   profits.
    
	
 
    	
 
    
	
4.6.
    	
During the term hereof, Party A agrees to   cooperate with Party B and its parent company (either direct or indirect) in   the carrying out of related party transaction audits and other audits and   provide Party B, its parent company or its appointed auditors with information   and materials relating to Party A’s operations, businesses, customers,   finances, employees and so on; and further agrees that Party B’s parent   company(ies) may disclose such information and materials to satisfy   regulatory requirements of the listing venue of its (their) securities.
    

 

 

	
5.
    	
Intellectual Property
    
	
 
    	
 
    
	
5.1.
    	
All intellectual property, whether   originally owned by Party B or obtained by it during the term hereof,   including the intellectual property rights to and in the work products   created during its provision of the Services, shall belong to Party B.
    
	
 
    	
 
    
	
5.2.
    	
Considering that the conduct of Party A’s   Business is dependent upon the Services provided by Party B hereunder, Party   A agrees to the following arrangement with respect to the Business-Related   Technology developed by Party A on the basis of such Services: 
    

 

	
(i)
    	
If the Business-Related Technology is further   developed and obtained by Party A under Party B’s entrustment or is obtained   by Party A through joint development with Party B, then the title to such   Business-Related Technology and relevant patent application rights shall be   owned by Party B;
    
	
 
    	
 
    
	
(ii)
    	
If the Business-Related Technology is   obtained by Party A through further independent development, then its title   shall be owned by Party A, provided however that: (A) Party A shall   timely inform Party B of the details of such Business-Related Technology and   shall provide relevant information required by Party B; (B) if Party A   intends to license or transfer such Business-Related Technology, Party A   shall, to the extent not contrary to mandatory requirements of PRC Laws,   transfer the same to Party B or grant an 
    

 

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exclusive license to Party B on a   preemptive basis, and Party B may use such Business-Related Technology within   the specific scope of Party A’s transfer or license (however, Party B may   decide at its discretion whether to accept such transfer or license); if and   only if Party B has waived its right to preemptive purchase or exclusive   license with respect to such Business-Related Technology, Party A may then   transfer the title of, or license such Business-Related Technology to a third   party on terms and conditions (including, without limitation, the transfer   price or the royalty) no more favorable than those proposed to Party B, and   shall ensure that such third party shall fully comply with and perform the   obligations to be performed by Party A hereunder; and (C) except under   the circumstances as described in (B), during the term hereof, Party B shall   have the right to demand to purchase such Business-Related Technology; to the   extent not contrary to mandatory requirements of PRC Laws, Party A shall   agree to such purchase request of Party B and the purchase price shall be   equal to the lowest purchase price then permissible by PRC Laws. 
    

 

	
5.3.
    	
In the event that Party B is granted an   exclusive license under Section 5.2(ii) hereof to use the   Business-Related Technology, such license shall comply with the following   requirements:
    

 

	
 
    	
(i)
    	
The term of the license shall be no less   than ten (10) years (from the effective date of the such license   agreement);
    
	
 
    	
 
    	
 
    
	
 
    	
(ii)
    	
The scope of the rights granted under the   license shall be defined to the maximum extent possible;
    
	
 
    	
 
    	
 
    
	
 
    	
(iii)
    	
During the term of the license and to the   extent of the scope of license, no party (including Party A) other than Party   B may use or license another party to use such Business-Related Technology;
    
	
 
    	
 
    	
 
    
	
 
    	
(iv)
    	
Upon expiry of the term of the license,   Party B shall have the right to demand to renew the license agreement and   Party A shall grant its consent, in which event the terms of such license   agreement shall remain unchanged, other than those changes approved by Party   B.
    

 

	
5.4.
    	
Notwithstanding Section 5.2(ii), a   patent application in respect of any Business-Related Technology described   therein shall be dealt with as follows:
    

 

	
 
    	
(i)
    	
If Party A intends to file a patent   application with respect to any Business-Related Technology described in   Section 5.2(ii), it shall obtain prior written consent from Party B;
    
	
 
    	
 
    	
 
    
	
 
    	
(ii)
    	
If and only if Party B has waived its   right to purchase the patent application right for such Business-Related   Technology, Party A may then file such patent application on its own or transfer   such right to a third party. In the event Party A transfers the abovementioned   patent application right to a third party, it shall ensure that such third   party shall fully comply with and perform the obligations to be performed by   Party A hereunder; in addition, the terms on which Party A transfers such   patent application right to a third party (including, without limitation, the   transfer price) shall not be more favorable than those proposed by Party A to   Party B under Section 5.4(iii) hereof;
    
	
 
    	
 
    	
 
    
	
 
    	
(iii)
    	
During the term hereof, Party B may at any   time request Party A to file patent applications with respect to such   Business-Related Technology and may decide in its discretion whether to   purchase the right to such
    

 

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patent application. If so requested by   Party B, Party A shall, to the extent not contrary to the mandatory   requirements of PRC Laws, transfer such right to file patent applications to   Party B at the lowest transfer price then permissible by PRC Laws; once Party   B acquires the right to file patent applications with respect to such   Business-Related Technology, files patent applications and is granted   patents, Party B shall become the lawful owner of such patents. 
    

 

	
5.5.
    	
Party A warrants to Party B that it will   indemnify Party B against any and all economic losses suffered by Party B as   a result of Party A’s infringement of any third party intellectual property   rights (including copyrights, trademarks, patents and know-hows). 
    

 

 

	
6.
    	
Confidentiality Obligations
    
	
 
    	
 
    
	
6.1.
    	
Notwithstanding the termination of this   Agreement, each of Party A and Party B shall maintain in strict confidence   business secrets, proprietary information, customer information and any other   information of a confidential nature of the other Party coming into its   knowledge during the conclusion and performance of this Agreement   (collectively the “Confidential Information”). Except with prior written   consent from the Party disclosing such Confidential information or to the   extent required to disclose to a third party by relevant laws or regulations   or requirements of the listing venue of an affiliate, no Party receiving the   Confidential Information shall disclose any Confidential Information to any   third party; the Party receiving the Confidential Information shall not use,   directly or indirectly, any Confidential Information other than for the   purpose of performing this Agreement. 
    
	
 
    	
 
    
	
6.2.
    	
The following information shall not   constitute the Confidential Information:
    
	
 
    	
 
    
	
 
    	
(a) any information which, as shown   by written evidence, has previously become known to the receiving Party by   lawful means; or
    
	
 
    	
 
    
	
 
    	
(b) any information which enters   public domain other than as a result of the receiving Party’s fault; or
    
	
 
    	
 
    
	
 
    	
(c) any information lawfully acquired   by the receiving Party from another source subsequent to its receipt thereof   hereunder.
    

 

	
6.3.
    	
The receiving Party may disclose the   Confidential Information to its relevant employees or agents to the   professionals engaged by such Party, provided that such receiving Party shall   ensure that such persons shall comply with relevant terms and conditions of   this Agreement, and shall assume any liability arising out of any breach by   such persons thereof.
    
	
 
    	
 
    
	
6.4.
    	
Notwithstanding any other provisions of   this Agreement, the validity of this Section shall not be affected by   the suspension or termination of this Agreement. 
    

 

 

	
7.
    	
Representations and   Warranties by Party A
    
	
 
    	
 
    
	
 
    	
Party A hereby represents and warrants to Party   B that:
    

 

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7.1.
    	
It is a limited liability company duly   registered and lawfully existing under PRC Laws with independent legal   personality, has full and independent legal status and capacity to execute,   deliver and perform this Agreement and may sue or be sued as an independent   party.
    
	
 
    	
 
    
	
7.2.
    	
It has full internal corporate power and   authority to execute and deliver this Agreement and all other documents to be   executed by it in connection with the transactions contemplated hereunder as   well as full power and authority to consummate the transactions contemplated   hereunder. This Agreement will be lawfully and duly executed and delivered by   it, and constitutes its legal and binding obligations, enforceable against it   in accordance with the terms hereof.
    
	
 
    	
 
    
	
7.3.
    	
It shall timely inform Party B of any   circumstance which has or is likely to have a material adverse effect on   Party A’s Business or operation thereof and shall use its best efforts to   prevent the occurrence of such circumstance and/or the expansion of losses.
    
	
 
    	
 
    
	
7.4.
    	
Without Party B’s written consent, Party A   will not dispose of its material assets or change its current shareholding   structure in whatsoever manner.
    
	
 
    	
 
    
	
 
    	
 
    
	
8.
    	
Representations and   Warranties by Party B
    
	
 
    	
 
    
	
 
    	
Party B hereby represents and warrants to   Party A that:
    
	
 
    	
 
    
	
8.1.
    	
It is a limited liability company duly   registered and lawfully existing under PRC Laws with independent legal   personality, has full and independent legal status and capacity to execute,   deliver and perform this Agreement and may sue or be sued as an independent   party.
    
	
 
    	
 
    
	
8.2.
    	
It has full internal corporate power and   authority to execute and deliver this Agreement and all other documents to be   executed by it in connection with the transactions contemplated hereunder as   well as full power and authority to consummate the transactions contemplated   hereunder. This Agreement will be lawfully and duly executed and delivered by   it, and constitutes its legal and binding obligations, enforceable against it   in accordance with the terms hereof.
    
	
 
    	
 
    
	
 
    	
 
    
	
9.
    	
Term of Agreement
    
	
 
    	
 
    
	
9.1.
    	
This Agreement shall become effective once   it is duly executed by the Parties hereto. Unless otherwise expressly   stipulated herein, the term of this Agreement shall be twenty   (20) years.
    
	
 
    	
 
    
	
9.2.
    	
Unless Party B notifies Party A at least   three (3) months prior to the expiry hereof that this Agreement will not   be renewed, this Agreement will automatically renew for a term of twenty (20)   years upon such expiry.
    
	
 
    	
 
    
	
9.3.
    	
Party A shall not terminate this Agreement   early during the term of this Agreement. Notwithstanding the foregoing, Party   B may terminate this Agreement at any time by notifying Party A in writing   thirty (30) days in advance.
    

 

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9.4.
    	
If necessary, the Parties shall each   within three months prior to the expiry of their respective terms of business   operations complete review, approval and registration formalities for the extension   of such business terms so that the continuing validity of this Agreement   shall be maintained.
    
	
 
    	
 
    
	
9.5.
    	
Upon termination hereof, the Parties shall   continue to comply with their respective obligations under Section 6   hereof.
    
	
 
    	
 
    
	
 
    	
 
    
	
10.
    	
Notice
    
	
 
    	
 
    
	
10.1.
    	
Any notice, request, demand and other   correspondences required hereby or made hereunder shall be served on the   relevant Party in writing.
    
	
 
    	
 
    
	
10.2.
    	
The abovementioned notice or other   correspondences shall be deemed given upon transmission, if sent by fax; or   upon delivery if delivered in person; or five (5) days after posting if   sent by mail.
    
	
 
    	
 
    
	
 
    	
 
    
	
11.
    	
Liability for Default
    
	
 
    	
 
    
	
11.1.
    	
The Parties agree   and acknowledge that if any Party (the “Defaulting Party”) substantially   breaches any provision hereof, or substantially fails to perform or delays in   performing any obligations hereunder, such breach, failure or delay shall   constitute a default hereunder (the “Default”) and that in such event, the   non-defaulting Party shall have the right to demand the Defaulting Party to   cure such Default or take remedial measures within a reasonable time limit.   If the Defaulting Party fails to cure such Default or take remedial measures   within such reasonable time limit or within ten (10) days after the non-defaulting   Party notifies the Defaulting Party in writing and requests it to cure such   Default, the non-defaulting Party shall have the right to do the following:   (i) if Party A is the Defaulting Party, Party B shall have the right to   elect to terminate this Agreement and demand Party A to indemnify for   damages, or demand enforced performance by Party A of its obligations   hereunder; (ii) if Party B is the Defaulting Party, Party A shall have   the right to demand Party B to indemnify for damages, provided that, unless   otherwise stipulated under the Laws,    in no event may Party A terminate or rescind this Agreement.
    
	
 
    	
 
    
	
11.2.
    	
Notwithstanding any other provisions   hereof, this Section 11 shall survive the termination of this Agreement.
    
	
 
    	
 
    
	
 
    	
 
    
	
12.
    	
Force Majeure
    
	
 
    	
 
    
	
 
    	
If  there   occurs an earthquake, typhoon, flood, fire, war, computer virus, tool   software design loophole, hacking attack of the Internet, change of policy or   law or any other force majeure event which is unforeseeable or whose consequences   are unpreventable or unavoidable, and a Party is directly affected thereby in   its performance of this Agreement or is prevented thereby from performing   this Agreement on the agreed terms, such affected or prevented Party shall   immediately notify the other Party by fax of the same and shall within thirty   (30) days provide an evidencing document to be issued by the notary body   of the place of the force majeure event, setting forth the details of such   force majeure and the reasons for such failure or delay to perform this   Agreement. The
    

 

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Parties shall, in light of the extent of   the impact of such force majeure event on the performance of this Agreement,   agree on whether to waive the performance of part of this Agreement or grant postponed   performance thereof. No Party shall be held liable to indemnify the other   Party against its economic losses resulting from a force majeure event.
    

 

	
 
    	
 
    
	
13.
    	
Miscellaneous
    
	
 
    	
 
    
	
13.1.
    	
This Agreement is made in Chinese in duplicate,   with each Party hereto holding one (1) original.
    
	
 
    	
 
    
	
13.2.
    	
The execution, effectiveness, performance,   modification, interpretation and termination of this Agreement shall all be   governed by the Laws of the People’s Republic of China.
    
	
 
    	
 
    
	
13.3.
    	
Any dispute arising under or in connection   with this Agreement shall be resolved by the Parties through consultations.   If the Parties fail to reach an agreement within thirty (30) days   following its occurrence, be brought before the competent people’s court of   Hangzhou for adjudication.
    
	
 
    	
 
    
	
13.4.
    	
No right, power or remedy granted to any   Party by any provision of this Agreement shall preclude any other right,   power or remedy such Party is entitled to in accordance with Laws or any   other provisions hereof and no exercise by a Party of any of its rights,   powers and remedies shall preclude its exercise of other rights, powers and   remedies it is entitled to.
    
	
 
    	
 
    
	
13.5.
    	
No failure or delay by a Party in   exercising any right, power or remedy it is entitled to under this Agreement   or Laws (the “Party Rights”) shall operate as a waiver of such rights, nor   shall any single or partial waiver by a Party of the Party Rights preclude   any further exercise of such Party Rights or any exercise of any other Party   Rights.
    
	
 
    	
 
    
	
13.6.
    	
The section headings herein are inserted   for convenience of reference only and shall in no event be used for or affect   the interpretation of the provisions hereof.
    
	
 
    	
 
    
	
13.7.
    	
Each provision contained herein may be   segregated from and independent of any other provisions hereof, and if at any   time any one or more provisions hereof become invalid, illegal or   unenforceable, the validity, legality and enforceability of the remaining   provisions hereof shall not be affected thereby.
    
	
 
    	
 
    
	
13.8.
    	
Upon its execution, this Agreement shall   promptly supersede any other legal documents previously executed by the   Parties with respect to the same subject matter, including, without   limitation, the Amended and Restated Exclusive Technical Services Agreement   dated October 12, 2011 by and between Party A and Party B.
    
	
 
    	
 
    
	
13.9.
    	
Any amendments or supplements to this   Agreement must be made in writing and shall take effect only when duly   executed by the Parties hereto.
    
	
 
    	
 
    
	
13.10.
    	
Without Party B’s prior written consent,   Party A shall not transfer any of its rights and/or obligations hereunder to   any third party. Party B shall have the right to transfer its rights and   obligations hereunder to any third party and
    

 

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designate any third party to provide any   or all services hereunder or perform any of Party B’s obligations hereunder.
    
	
 
    	
 
    
	
13.11.
    	
This Agreement shall be binding upon the   lawful assignees or successors of the Parties.
    
	
 
    	
 
    
	
13.12.
    	
The Parties undertake to file and pay, in   accordance with Laws, their respective taxes involved in the transactions   hereunder.
    
	
 
    	
 
    

 

 

[The remainder of this page is intentionally left blank]

 

11

 

[Signature Page]

 

IN WITNESS WHEREOF, the Parties have duly executed this Amended and Restated Exclusive Services Agreement at the place and as of the date first above written.

 

 

Party A:

 

Hangzhou BEST Network Technologies Co., Ltd.

 

(Seal)

 

	
Signature:
    	
/s/ Wei Chen
    	
 
    

 

 

Name: Wei Chen

 

Title: Legal Representative

 

 

 

Party B:

 

Zhejiang BEST Technology Co., Ltd.

 

(Seal)

 

	
Signature:
    	
/s/ Shao-Ning Johnny Chou
    	
 
    

 

 

 

Name: Shao-Ning Johnny Chou

 

Title: Legal Representative

 

12

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