Document:

EX-4.61

 Exhibit 4.61 
 2014-2016 Comprehensive Service Agreement 
 between 

CHINA UNITED NETWORK 
 COMMUNICATIONS GROUP 
 COMPANY LIMITED 

and 
 CHINA
UNITED NETWORK 
 COMMUNICATIONS 
 CORPORATION LIMITED 
 October 24, 2013 

 Table of Contents 
  

			
	 1. Basic Principles
	  	4
	 2. The Components of Integrated Services
	  	5
	 3. Pricing Principle and Payment
	  	5
	 4. Validity
	  	6
	 5. Representations, Warranties and Commitments
	  	6
	 6. Coming Into Force
	  	8
	 7. Force Majeure
	  	8
	 8. Confidentiality
	  	8
	 9. Non Waiver
	  	8
	 10. Notice
	  	8
	 11. Applicable Laws
	  	8
	 12. Dispute Resolution
	  	8
	 13. Other
	  	9
	 Annex I: Lease of Telecommunication Resources
	  	10
	 Annex II: Premises Leasing
	  	12
	 Annex III: Telecom Value-added Services
	  	14
	 Annex IV: Materials Procurement
	  	15
	 Annex V: Project Design and Construction
	  	17
	 Annex VI: Auxiliary Telecommunication Services
	  	19
	 Annex VII: Integrated Services
	  	21
	 Annex VIII: Shared Services
	  	23

  
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 The Comprehensive Service Agreement (hereinafter referred to as “the Agreement”)
is signed by the following Parties on October 24, 2013 in Beijing, People’s Republic of China (hereinafter referred to as “China”): 
 (1) Party A: China United Network Communications Group Company Limited (hereinafter referred to as “the Unicom Group”) 

Address: 21 Financial Street, Xicheng District, Beijing 
 Legal Representative: CHANG Xiaobing 
 (2) Party B: China United Network
Communications Corporation Limited (hereinafter referred to as “CUCL”) 
 Address: 21 Financial Street, Xicheng
District, Beijing 
 Legal Representative: CHANG Xiaobing 

Each of the Parties to the Agreement is individually called “the Party” and collectively “the Parties”. 

Whereas: 

(1) Duly organized and validly existing under the laws of China, the Unicom Group is an integrated telecom service carrier with
limited liability. Duly organized and validly existing under the laws of China, China United Network Communications Limited (hereinafter referred to as “the Unicom A Share Company”) is a company limited by shares and traded on the Shanghai
Stock Exchange (hereinafter referred to as “the SHSE”) starting from October 9, 2002. The Unicom Group is the controlling shareholder of the Unicom A Share Company; 

(2) The Unicom A Share Company exercises indirect share-holding of China Unicom (Hong Kong) Limited (hereinafter referred to as
“the Unicom Red-chip Company”) through China Unicom (BVI) Limited (“the Unicom BVI Company”). Registered in the Hong Kong SAR, China (hereinafter referred to as “Hong Kong”), the Unicom Red-chip Company is a
company limited by shares and traded on Hong Kong and the U. S. exchanges; 
 (3) CUCL is a foreign-invested company duly
organized and validly existing under the laws of China, with the Unicom Red-chip Company holding 100% of its stake. CUCL mainly operates mobile telecommunications services nationwide, fixed communications services, data communication services, all
kinds of value-added telecom services, domestic and international communications facility services, as well as system integration businesses related to communications and information services, etc.; 

(4) On May 24, 2008, Ministry of Industry and Information Technology (MIIT), National Development and Reform Commission
(NDRC) and Ministry of Finance jointly issued a <Circular on Deepening the Reform of China’s Telecom System>. Accordingly, the Chinese government moved to deepen the reform of the telecom system by endorsing the formation of three
leading market players that feature nationwide network resources, roughly equivalent power and size and the capacity to run fully-integrated services, as well as by encouraging China Telecom to acquire China Unicom’s CDMA facilities and the
merger of China Unicom and China Netcom. In response to the call for deepening reform and implementing restructuring in the telecom sector, the Unicom Red-chip Company and China Netcom Group Corporation (Hong Kong) Limited (a company organized as
per the laws of Hong Kong and listed on the Hong Kong Stock Exchange and the New York Stock Exchange, hereinafter referred to as “the Netcom Red-chip Company”) intended to merge by scheme of arrangement (“the Merger
Transaction”). Following the merger, the Netcom Red-chip Company was delisted from the Hong Kong Stock Exchange and the New York Stock Exchange to become a wholly owned subsidiary of the Unicom Red-chip Company; and 

  
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 (5) For the purpose of enabling the Unicom Red-chip Company and its subsidiaries to run
telecom businesses and in conformity with the relevant provisions of the <Shanghai Stock Exchange Listing Rules> (hereinafter referred to as “< The SHSE Rules>”) applicable from time to time and the <Hong Kong Stock Exchange
Listing Rules> (hereinafter referred to as “<THE HKSE Rules>”) applicable from time to time, the Unicom Group and its subsidiaries (excluding the Unicom A Share Company and its subsidiaries) have established a series of
arrangements with CUCL for continuing connected transactions (hereinafter referred to as the “Arrangement for Continuing Connected Transactions”). As per <The SHSE Rules> and <The HKSE Rules>, such continuing connected
transactions shall be made public by the Unicom A Share Company and the Unicom Red-chip Company in conformity with their respective listing Rules as applicable. The Arrangements for the above continuing connected transactions will be valid for
3 years, starting from 1 January 2014 and ending on December 31, 2016. 
 As per the specific implementation of
the relevant continuing connected transactions, following joint research and discussions as well as based on equality and mutual benefit, the Parties have reached the following agreement: 

1. Basic Principles 
 1.1 The “Integrated Services” under the Agreement refers to certain services and facilities provided from one Party to the other Party or mutually provided between the Parties, with the
receiving Party paying the associated costs (hereinafter referred to as “the Service Fee”). Unless otherwise agreed to, the Parties keep the right to allow its controlled subsidiaries (to be determined in light of the <Corporate
Accounting Standards> as revised by Ministry of Finance from time to time) to provide or receive as well as charge or pay for services as per the terms and conditions of the Agreement. 

1.2 The services and/or facilities from any Party to the other Party as per the Agreement shall be regarded as paid transactions in the
business exchanges between companies, where the former Party has the right to charge a reasonable amount of fees for the service and/or facilities it provides pursuant to the fair market principle and the latter Party shall fulfill the corresponding
payment obligations. 
 1.3 The conditions and quality of services and/or facilities provided by either Party to the other Party
shall not be any worse than those of the same or similar services and/or facilities it provides to any third party. While exercising rights or fulfilling obligations under the Agreement, the Parties shall observe the principle of fair trade.

 1.4 In case that either Party requires the other Party to increase the services and/or facilities provided under the
Agreement, the other Party shall make its best efforts to provide the requested services and/or facilities, with conditions of such services and/or facilities no worse than those provided to any third party. 

1.5 In case that the services and/or facilities under the Agreement cannot be provided in whole or in part by one Party due to its own
reasons, the Party in question shall promptly notify the other Party, and do its best to help the other Party to get the same or similar services and/or facilities from other sources. 

1.6 The services and/or facilities provided under the Agreement shall comply with the purpose of usage as agreed upon by the Parties and
the standards prescribed by the State. 

  
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 1.7 For any losses inflicted upon the counterParty as a result of breach of the Agreement by
any Party, the inflicting Party shall bear the corresponding liabilities to the other Party for the breach (including but not limited to direct and indirect losses inflicted upon the other Party for breach of the Agreement). However, the inflicting
Party shall not be held liable for losses caused by force majeure. 
 1.8 While either Party is fulfilling its obligations under
the Agreement, the other Party shall provide reasonable assistance where necessary. 
 1.9 Pursuant to the premise of Clause 1.3
of the Agreement and on condition that the charges from one Party do not exceed those from an independent third party, the Party that receives the services and/or facilities (hereinafter referred to as “the receiving Party”) agrees to opt
for the counterParty as its preferred service provider. 
 1.10 If there is an independent third party within the jurisdiction
of one Party where the services are provided, and the third party: (i) provides higher quality of services; or (ii) provides the same level of services but charges less; then the receiving Party keeps the right to terminate the services
provided by the counterParty within the jurisdiction following a written notice to the counterParty, for which the receiving Party shall bear no liability. 
 2. The Components of Integrated Services 
 2.1 The integrated services
mutually provided between the Parties under the Agreement and the associated arrangements are set out in the following annexes: 

Annex I: Lease of Telecommunication Resources (provided from Party A to Party B); 

Annex II: Premises Leasing (mutually provided); 
 Annex III: Telecom Value-added Services (provided from Party A to Party B); 

Annex IV: Materials Procurement (provided from Party A to Party B); 

Annex V: Project Design and Construction (provided from Party A to Party B); 

Annex VI: Auxiliary Telecommunication Services (provided from Party A to Party B); 

Annex VII: Integrated Services (mutually provided); 
 Annex VIII: Shared Services (mutually provided) 
 3. Pricing Principle and
Payment 
 3.1 The pricing principles and/or service fee under the Agreement are set out in the Annexes to the Agreement.

 3.2 Calculation of the exact amount of service fee under the Agreement is subject to the relevant Chinese accounting
standards applicable from time to time. 
 3.3 In case that the Parties cannot agree upon the amount of service fee under the
Agreement, they shall jointly submit the matter to the competent department for the latter to determine the level of fees with reference to the spirit and provisions of the Agreement and in accordance with price-related national policies and
regulations. The decision of that department shall be deemed final and binding on the Parties. 
 3.4 As per the pricing
principles and standards contained in the Agreement and the annex herewith, either Party shall pay the other Party in a timely fashion for the corresponding services it receives. 

3.5 In case that either Party does not pay the service fee as agreed upon by the Parties in due course, then for each day exceeding the
time limit, the defaulting Party shall pay the other Party a late fee of 0.05% of the amount overdue; in case that the time limit is exceeded by 60 days and above, the receiving Party may opt to terminate the corresponding services following a
written notice to the defaulting Party. If the defaulting Party still does not pay the service fee 30 days after receipt of the notice, the receiving Party may declare termination of the corresponding services. However, the suspension or
termination of such services shall not affect any prior rights or obligations of the Parties that have already occurred or arisen under the Agreement. 

  
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 3.6 In October each year, the Parties shall carry out a review of the pricing standards and
terms and conditions for the next fiscal year in regard to the services and facilities provided as per the Agreement, for which a supplementary agreement is to be signed. If the Parties do not arrive at a consensus prior to the above deadline in
regard to the provisions of the supplementary agreement, then the pricing standards and relevant provisions for the current year shall apply in the next fiscal year before the Parties arrive at a consensus or the discrepancies between the Parties
are duly addressed pursuant to Clause 3.3 of the Agreement.  
 4. Validity 

4.1 The Agreement is valid for 3 years (“the Effective Period”), with immediate effect the next day following satisfaction
of the conditions contained in Clause 6 of the Agreement. 
 4.2 Unless Party B informs Party A via a written notice at least
60 days in advance, the Agreement shall be automatically renewed for another effective period at the expiry of the Agreement or its extension period as long as the relevant laws, regulations or regulatory rules are applied. 

5. Representations, Warranties and Commitments 
 5.1 The Parties make the following representations, warranties and commitments to each other: 
 5.1.1 It has full power and authority (including but not limited to the approval, consent or permission from competent government departments) to sign the Agreement and its annexes; 

5.1.2 The Agreement and its annexes are valid and binding upon signing and sealing in the manner provided in the Agreement, with
compulsory execution permissible as per its terms and conditions; 
 5.1.3 Any provisions in the Agreement and its annexes are
not in violation of the laws and regulations of China. 
 5.2 As per relevant laws, regulations and Listing Rules, the Unicom
Group agrees to continue to support the Unicom Red-chip Company and its subsidiary companies (collectively referred to as “the Relevant Operating Subsidiaries”) in their sustainable development, including: 

5.2.1 All the current or future business-related licenses, consents, permissions and approvals (including the Unicom Group’s
operating license for engaging in telecom businesses, the same below) and other distributed and/or acquired resources (including but not limited to spectrum, frequency, numbers, trademarks, names and other resources, the same below) from national
communications regulators (e.g., MIIT) and other competent departments that are associated with the CUCL’s listed businesses will also apply to the relevant operating subsidiaries. The Unicom Group will continue to hold, retain and update such
licenses, consents, permissions, approvals and other resources pursuant to laws for the exclusive benefit of the relevant operating subsidiaries’ engagement in listed businesses, and will not conduct any act or omission that may adversely
affect the legality, validity or renewability of such licenses, consents, permissions, approvals and other resources or the ability of the relevant operating subsidiaries to engage in listed businesses pursuant to laws and regulations; and will
conduct all acts or omissions for obtaining, maintaining, retaining, updating or extending the legality, validity or renewability of such licenses, consents, permissions, approvals and other resources as well as the ability of the relevant operating
subsidiaries to engage in listed businesses pursuant to laws and regulations; 

  
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 5.2.2 To enable the relevant operating subsidiaries to engage in listed businesses, the
Unicom Group will provide assistance to relevant operating subsidiaries to involve them in its existing or future roaming arrangements with third parties on normal commercial terms; 

5.2.3 With regard to the equity/shares of the listed group that is/are in the beneficial ownership of the Unicom Group, the Unicom Group
will not engage in any acts that may lead to the Unicom Group losing the right of control of the relevant operating subsidiaries. For the avoidance of doubt, the provisions of the <Accounting Standards> as revised by Ministry of Finance from
time to time shall prevail in the determination of the above right of control. Subject to relevant laws, regulations and Listing Rules, the Unicom Group will not approve or agree to the occurrence or implementation of the foregoing acts either;

 5.2.4 In case that there are any connected transactions between the relevant operating subsidiaries and the Unicom Group, the
accountants (or auditors, the same below) appointed by the relevant operating subsidiaries are needed to audit the relevant accounting records of such connected transactions as per the laws or Listing Rules of the jurisdictions where the shares of
the listed company are traded. For the purpose of carrying out such audits, the Unicom Group agrees to facilitate the full access by the accountants appointed by the relevant operating subsidiaries to the accounting records (including the accounting
records of the Unicom Group and/or its contacts); 
 5.2.5 Except through the Unicom Red-chip Company, the Unicom Group will not
seek overseas listing for itself or its affiliated enterprises in regard to any present or future businesses that are similar to those offered or to be offered by the listed group; 

5.2.6 The Unicom Group is committed to the following: as long as the shares of the Unicom A Share Company and the Unicom Red-chip Company
are traded on the stock market, and the Unicom Group is considered as the controlling shareholder of the Unicom A Share Company and the Unicom Red-chip Company as well as the contact of the controlling shareholder as per the laws or Listing Rules of
the jurisdictions where the shares are traded, then: (1) the Unicom Group will not engage or participate in any competitive businesses in China in any form (including but not limited to sole proprietorship, joint venture or cooperative
operation as well as direct or indirect ownership of the stock or other interests of other companies, but excluding those through the relevant operating subsidiaries, the same below), and will prevent and keep any of its affiliated enterprises from
doing so; (2) If the Unicom Group and/or any of its affiliated enterprises participates or engages in any businesses or activities that evolves to competitive businesses at any time, in any form or in any place in China, the Unicom Group will
promptly terminate and/or enable the termination of the participation, management or operation of such competitive businesses by its respective affiliated enterprises; 
 5.2.7 If the Unicom Group or any of its affiliate enterprises obtains any government approval, authorization or permission to develop any new telecom technologies, products or services, or wishes to
develop any new telecom technologies, products or services, or is allowed to engage in any other business opportunities, the Unicom Group shall directly notify and/or urge its respective affiliated enterprise to notify the situation to the relevant
operating subsidiary in a timely fashion, and above all provide such government approvals, authorizations or permissions as well as such rights to develop new telecom technologies, products and services or to exploit business opportunities to CUCL
or its subsidiaries in view of the needs of the relevant operating subsidiaries after going through necessary formalities; 

  
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 5.2.8 The Parties agree that the above representations, warranties and commitments of the
Unicom Group will replace the relevant representations, warranties and commitments contained in subsections (13), (14), (16), (17) and (18) of Clause 3.2 as well as Clause 5.1 and 5.2 of the <Restructuring Agreement> signed between
the Unicom Group and CUCL on April 21, 2000, while the rest of the provisions in the <Restructuring Agreement> remain unchanged. 
 6. Coming Into Force 
 The agreement shall come into force from the date
appearing atop the main text of the Agreement subject to the review and approval by the General Meeting of Shareholders of the Unicom A Share Company and the Board of Directors of the Unicom Red-chip Company as well as signatures and seals by the
Parties. 
 7. Force Majeure 
 In the event that one Party cannot fulfill its obligations as per the agreed conditions contained in the Agreement and its Annexes due to unforeseen force majeure of which the occurrences and consequences
are unavoidable and insuperable, the Party shall promptly inform the situation to the other Party, and present to the other Party within 15 days the details and valid documents supporting its inability to fulfill in whole or in part its
obligations under the Agreement and its annexes or listing the reasons for its delayed execution of such obligations. As per the magnitude of influence of force majeure on the execution of such obligations, the Parties shall decide whether to
suspend, partially exempt or delay the execution of such obligations. 
 8. Confidentiality 

Unless otherwise provided for by laws or regulatory authorities or for the purpose of information disclosure by Party B to regulatory
authorities, without written permission from the counterParty, neither Party shall provide or disclose any material or information relating to the businesses of the other Party to any company, enterprise, organization or individual. 

9. Non Waiver 
 Unless otherwise provided for by laws, failure by either Party to exercise or delay the exercise of its rights, power or privilege under the Agreement shall not be deemed waiver of such rights, power or
privilege, and the exercise of such rights, power or privilege in part shall not hinder future exercise of such rights, power or privilege. 
 10. Notice 
 Any notice in relation to the Agreement shall be made in
writing and delivered by hand, fax or post from one Party to the other Party. Notices shall be regarded as delivered when signed by the recipient (hand delivery), when the sender’s fax machine displays “sent” (facsimile) or on
the third working day in the wake of mailing (postal delivery, in which case the date shall be automatically extended when coinciding with legal holidays). Notices shall take immediate effect upon delivery. 

11. Applicable Laws 

Governed by the laws of China, interpretation and implementation of the Agreement is also subject to the laws of China. 

12. Dispute Resolution 

Except for the situation provided for in Clause 3.3 of the Agreement, all disputes arising out of implementation of the Agreement or
relating to the Agreement shall be resolved through friendly consultations between the Parties. In case that no consensus is reached within thirty (30) days after one Party makes the request to resolve the dispute through consultations, either
Party may submit the dispute to China International Economic and Trade Arbitration Commission (CIETAC), in which case three (3) arbitrators are required to resolve the dispute in Beijing by arbitration as per the then effective arbitration
rules. With Chinese as the arbitration language, the arbitration award shall be final and binding on the Parties. Unless otherwise provided by the arbitral tribunal, the arbitration costs shall be borne by the losing Party. 

  
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 13. Other 
 13.1 Once the Agreement enters into force, the original arrangement of continuing connected transactions shall be terminated. 
 13.2 Annex I to Annex VIII of the Agreement forms an integral part of the Agreement and bears the same effect as the main text of the Agreement. In case that the text of the annexes is inconsistent with
that of the Agreement, the text of the annexes shall prevail. 
 13.3 As agreed by the Parties, the Parties may opt to amend or
supplement the Agreement and its annexes. All amendments or supplements shall enter into force following signatures and seals in writing by legal representatives or authorized representatives of the Parties. 

13.4 The Agreement is severable, i.e., if any provision of the Agreement or its annexes is determined as illegal or unenforceable, the
effectiveness and implementation of other provisions of the Agreement and its annexes shall not be affected accordingly. 
 13.5
The Agreement is made in four original copies, with each Party holding two copies and all the four copies bearing the same legal effect. 

  
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 Annex I: Lease of Telecommunication Resources 

1. Lease of Telecommunication Resources 
 The two Parties agree that Party B lease Party A’s international telecommunications channel gateways (including international submarine cable landing stations, international land cable entry points,
landing stations or entry extension terminal stations, as well as international satellite earth stations), international telecommunications service gateways (including international voice exchanges, the STPs, international ATM/FR nodes,
international transmission/DDN, international nodes for IP networks and international internet gateways (IIGs)), the international submarine cable capacity, international land cables and other international telecommunications resources (in short the
“International Telecommunications Resources”), as well as other telecommunications facilities owned by Party A but needed by Party B in its service operations (“Telecommunications Resources and Facilities”). 

2. Contents of the Lease of Telecommunications Resources and Facilities 

2.1 Party B leases international telecommunications resources owned by Party A. 

2.2 Party B leases other telecommunications resources and facilities owned by Party A. 

2.3 The two Parties shall make adjustments where necessary to the scope, type and quantity of telecommunications resources and facilities
at any time. Such adjustments shall be confirmed once a year. 
 3. Obligations 

3.1 Party B shall be responsible for maintaining the leased international telecommunications resources at its own expense in accordance
with relevant regulations and specifications. 
 3.2 The two Parties shall determine through consultation which Party is to
undertake the maintenance task in part or in full for the telecommunications facilities, in which case the relevant costs shall be borne by Party B (unless otherwise agreed by the two Parties); if Party A undertakes the maintenance task in part or
in full for the telecommunications facilities, Party B shall make compensations to Party A for the costs arising therefrom. 

3.3 Party B shall make proper use of the leased telecommunications resources and facilities. In the validity of this Annex and to the
extent permitted by the laws where applicable, Party B shall be entitled to lease the telecommunications resources and facilities to any of the third parties as part of its normal Network Elements (NE) lease services, for which the rates shall
be based on relevant state regulations and the principles of equality and fairness. 
 3.4 If Party B deems it necessary to
suspend the telecommunications resources and facilities for the sake of maintenance and other reasons, a prior notice shall be issued to Party A within a reasonable period of time. 

4. Quality Assurance 
 4.1 Party A shall ensure that the quality of its telecommunications resources and facilities to be leased are in line with national standards and regulations. 

4.2 Party B shall ensure that its telecommunications equipment connected to the telecommunications resources and facilities is in line
with the quality standards and technical requirements provided by the competent national authorities. 
 5. Fees and Payment

 5.1 The rental fee to be paid by Party B for the telecommunications resources and facilities shall be equal to the annual
depreciation of such resources and facilities and no higher than the market price. 

  
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 5.2 Within three months after the end of each calendar year, the two Parties shall carry out
a review of the rental fee of the telecommunications resources and facilities (if necessary) provided pursuant to this Annex. Adjustments shall be made in the next year with regard to the rental fee errors (if any) identified in the review process.

 5.3 The expenses to be paid under Clause 3.2 of this Annex shall be determined with reference to the market price. In case
that no market price is available, the price shall be worked out by the two Parties through negotiation. However, the price shall be negotiated on a “cost plus” basis, and the “cost acceptable” means the cost to be determined by
the two Parties through negotiation. 
 5.4 Within ten working days following the end of each quarter, Party B shall provide to
Party A a list of rental charges of the previous quarter, as well as a list of the charges and fees provided pursuant to aforementioned Clause 5.3 of this Annex. Meanwhile, Party B shall pay Party A the balance of rental charges after deduction of
the relevant charges provided pursuant to Clause 5.3 hereinbefore. After the receipt of the payment, Party A shall issue a statement of payment to Party B. Where dispute arises, adjustments shall be made in the next quarter upon confirmation by the
two Parties. 
 5.5 The two Parties shall pay rental charges and fees in light of the articles heretofore. In the event of
overdue payment, a penalty charge of 0.05% of the amount due will be imposed on the Party owing the payment for each day (1 day) of outstanding payment. 
 6. Transaction Caps 
 In 2014, 2015 and 2016, the transaction caps for the
communications resources and facilities leased by Party A to Party B shall be RMB 600 million yuan. 

  
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 Annex II: Premises Leasing 

1. Scope and Purposes of Leasing 
 1.1 Party A and Party B agree to lease premises and related attached equipment owned respectively by their branches, subsidiaries, affiliated companies or holding enterprises or units (“subsidiary
companies”) to each other for the purpose of production and operation. Both Parties confirm that subsidiary companies hereinbefore have agreed to entrust Party A and Party B with the rights to lease the premises under this Annex. 

Party A agrees to lease its own premises and related attached equipment under this Annex (“Party A’s Premises) to Party B;
Party B agrees to rent Party A’s Premises and pay the consideration accordingly. Meanwhile, Party B agrees to lease its own premises and related attached equipment under this Annex (“Party B’s Premises) to Party A; Party A agrees to
rent Party B’s Premises and pay the consideration accordingly. 
 1.2 Party A and Party B agree that the premises leased
from each other are to be used for business operation in accordance with the law within the scope permitted. One Party may re-lease the other Party’s premises to the third parties upon the written permission of the other Party herein. However,
the sub-lessee shall still bear the responsibilities and obligations hereunder for the leased premises. 
 2. Lease Term

 2.1 The lease term of the premises under the Annex shall be determined by the two Parties in accordance with the specific
leasing circumstances of each leased premise, but shall be subject to the provisions of Clause 2.2 of this Annex. 
 2.2 If the
Lessee commits one of the acts described hereinafter, the Lessor is entitled to terminate the lease of the premises under this Annex: 
 (1) The Lessee subleases or lends the Lessor’s premises to other Parties without the Lessor’s consent (excluding subleasing or lending to the affiliated companies or associated companies of
the Lessee); 
 (2) The Lessee breaches the agreed articles of lease purposes, or uses the Lessor’s premises to carry
out unlawful or illegal activities and infringes upon the interests of the public. 
 2.3 On the expiry of this Annex, if the
Lessee waives the right to renew the lease according to this Annex, but is unable to actually return the rental premises to the Lessor due to business operation, the Lessor shall extend, as appropriate, the lease term, and shall be entitled to
charge the Lessee for the extended rent. The specific amount shall be determined by the Lessee and the Lessor through consultation. 
 3. Rents and Payment 
 3.1 Party A and Party B agree that the specific rent of the
premises and attached equipment leased to each other shall be determined by both Parties based on the market price or the depreciation as well as the tax with reference to the rent standard provided by local pricing authorities and taking into
consideration of the specific needs of the two Parties. The rents shall be no higher than the market price. 
 3.2 Party A and
Party B agree that the leasing of each Party’s specific premises may be stipulated in separate execution documents otherwise signed in order to provide the applicable terms and conditions. However, the execution documents shall be in line with
the principles, guidelines, terms and conditions provided by this Annex. 

  
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 3.3 A review of the rent provided in this Article hereto shall be carried out once a year,
and whether adjustments are needed as well as the specific rental prices after adjustments shall be determined by both Parties through consultations. Only the adjusted rent shall be no higher than the market price. 

3.4 The rent shall be settled once every quarter, and the settlement date shall be the last day of each quarter. Should the last day be
Saturday, Sunday or public holiday, the settlement date shall be postponed to the first working day after the end of holidays. 

3.5 All administrative fees and other fees arising from the lease of Party A and Party B’s premises charged by the state and local
government shall be borne by the Lessor, unless otherwise expressly stipulated in this Annex. 
 3.6 The Lessee shall pay the
rent to the Lessor in light of the Article hereof. In the event of overdue payment, a penalty charge of 0.05% of the amount due will be charged by the Lessor for each day (1 calendar day, similarly hereinafter) of outstanding payment. 

4. Repairing and Refurbishment during Lease Term 
 The Lessor shall undertake the obligations of repairing and refurbishing the premises during the lease term and bear the costs arising therefrom. Unless otherwise provided by this Annex, the Lessee shall
consult the Lessor and both Parties shall reach written agreements before carrying out any necessary decoration construction in the leased premises, such as transformation of the main structure of the premise. However, the Lessor shall not reject or
delay the Lessee’s request for the transformation of the main structure of the premise without reasonable grounds. With the main structure of the premises remaining untouched, the Lessee can make alteration and addition at its own expenses
without informing the Lessor or obtaining its consent. The additions or values arising from the decoration, alteration or addition made by the Lessee or the Lessor during the lease term shall belong to the Lessor. 

5. Change of Lessor 
 5.1 In the event that the Lessor transfers the ownership of its rental premises to the third parties, this Annex shall remain valid for the new owner of the premises. 

5.2 The Lessor shall inform the Lessee three months prior to the sale of the ownership of the leased premises. Under the same terms the
Lessee has the right of preemption to the Premises. 
 6. Transaction Caps 

In 2014, 2015 and 2016, the transaction caps for the premises leased by Party A to Party B shall be RMB 1.5 billion yuan, and those for
the premises leased by Party B to Party A shall be RMB 100 million yuan. 

  
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 Annex III: Telecom Value-added Services 

1. General Description of Service Contents 
 Party A (or its holding subsidiaries) as a Provider offers various value-added services to Party B’s subscribers through all kinds of telecommunications networks and data platforms. 

2. Settlement 

2.1 With regard to the actual cash revenue generated from the value-added services described in this Annex offered by the Provider to
Party B, the settlement shall be made between the respective branches of Party B and the Provider in line with the average proportion of revenue sharing between Party B and the CPs/SPs of the same kind who are independent from the Provider in the
same market area. 
 2.2 Settlement shall be based on Party B’s billing information. 

2.3 Both Parties agree that the settlement should be made once a month directly by each Party’s relevant subordinated bodies in
light of the settlement principles provided by this Annex. 
 3. Obligations 

3.1 Where the services under this Annex may be affected due to one Party’s network construction (including but not limited to
capacity expansion or renovation), the Party carrying out the construction work shall inform the other Party six months in advance. 
 3.2 Both Parties shall conduct network maintenance in line with related regulations provided by competent national telecommunications authorities at any time so as to guarantee the normal operation of the
whole network. 
 3.3 Without the consent of the other Party, neither Party shall suspend the telecommunications generated from
services under this Annex. Where telecommunications were suspended or severely impeded, both Parties shall take effective measures immediately to recover the telecommunications service. 

4. Transaction Caps 
 In 2014, 2015 and 2016, the transaction caps for various value-added services provided by Party A to Party B shall be RMB 500 million yuan. 

  
 14 

 Annex IV: Materials Procurement 

1. Scope of Materials Procurement Services 
 1.1 Materials procurement service items provided by Party A to Party B under this Annex include but not limited to: 
  

	(1)	 Procurement of imported telecom materials; 

  

	(2)	 Procurement of domestic telecom materials; 

  

	(3)	 Procurement of domestic non-telecom materials. 

 Abovementioned procurement services also include management of bidding and tendering, review of technical specifications, installation, inquiry, and agent services. 

1.2 The proprietary materials sold by Party A directly to Party B mainly include cables, modems and so on. 

1.3 Party A also provides Party B with storage, transportation and other services related to material procurement services and direct
materials procurement. 
 2. Service Fees and Payment 
 2.1 Party B shall pay service fees to Party A for purchasing equipment: 

(1) The pricing and/or charging standard of the commission on the domestic material procurement services under this Annex shall not
exceed 3% of the material procurement contract amount. 
 (2) The pricing and/or charging standard of the commission on the
imported material procurement services under this Annex shall not exceed 1% of the material procurement contract amount. 

(3) The pricing standard of part of Party A’s proprietary materials sold to Party B under this Annex shall be determined
pursuant to principles and order provided hereinafter: the government price shall be adopted where it is available; the government-guided price shall be adopted where it is available; in case that neither government price nor government-guided price
is available yet market price is available, the standard shall be worked out with reference to the market price; in the event that no government price, government-guided price or market price is available, the standard shall be worked out by the two
Parties through negotiation. However, the price shall be negotiated on a cost-plus basis, and the “cost acceptable” to the two Parties shall also be determined through negotiation. 

(4) The pricing and/or charging standard of the commission on storage, transportation and other services related to material
procurement services and direct materials procurement under this Annex shall be determined with reference to the market price. The “market price” herein means price that is set by the proprietor independently and formed through market
competition. The market price shall be determined pursuant to the following order: (1) the price charged by the independent third parties offering such services under normal trading in the area where the service is provided or in the vicinity;
or (2) the price charged by the independent third parties offering such services under normal trading within China’s territory. 
 2.2 Party B agrees to pay service fees to Party A each month. 
 In the event of
overdue payment, Party B shall pay Party A a penalty at the rate of 0.05% of the amount overdue for each day (1 day). 

  
 15 

 3. Transaction Caps 

In 2014, 2015 and 2016, the transaction caps for the materials procurement services provided by Party A to Party B shall be RMB 1 billion
yuan. 

  
 16 

 Annex V: Project Design and Construction 

1. Main contents 
 Under this annex, Party A shall provide the following services for Party B in terms of project design and construction: 
 (1) Project design, including: 
 Planning and design, project investigation
and survey, communication circuit engineering (including pipeline projects, fiber and cable projects, and overhead pole line projects), communication equipment projects (including phone switching project, transmission projects, data and multimedia
projects, communication power and air-conditioning projects, microwave communication projects and technical support system projects) and corporate communication projects; 
 (2) Project construction, including: 
 Communication equipment, communication
lines, communication power (including air conditioners for communication), communication pipelines and technical business support system; 
 (3) Project supervision 
 (4) IT services, including: 

Office automation, software testing, network upgrading, R&D of new services and support systems. 

2. Pricing principles 
 Except the situation described in the Clause 2 (2), the service pricing and/or charging standards for project design and construction under this annex, shall be set in accordance with the market price.
The “market price” under this Article, refers to the price offered by the operators in the market and formed through market competition. The market price will be determined in the following order: (1) the price offered by the
independent third party for the service under the normal transaction around the places or areas where the service is provided; or (2) the price offered by the independent third party of service provider under the normal transaction within the
Chinese territory. 
 Agreed by the two Parties, the receiving Party shall decide the specific provider for project design
service and technical service by means of bidding. The qualifications and conditions of the provider shall be no lower than an independent party, and is in the equal position with the independent third party to engage in the bidding. 

 

	3.	 Service payments 

 3.1 Party B shall pay Party A or Party A’s fiduciaries for service fees in a timely manner in accordance with the pricing and charging standards defined in this annex, the supplementary agreements of
this annex (if any) and the execution documents. 
 3.2 If Party B fails to pay the relevant service fees as scheduled according
to the provisions in this annex, the supplementary agreements of this annex (if any) and the execution documents, Party B shall pay Party A 0.05% of the overdue amount as fine for delaying payment every one (1) day (calendar day, hereinafter
inclusive); if the payment is deferred for sixty (60) days, Party A may inform Party B in written form of the suspension of the service; if Party B fails to pay the relevant service fees within thirty (30) days upon the receipt of the
written notification, Party A may declare the termination of the relevant services. However, the suspension or termination of the services will not affect the rights and obligations underway between the two Parties under this annex. 

  
 17 

 4. Priority 
 4.1 Unless otherwise provided, for the same service, if the clauses and conditions provided by independent third party for Party B are not superior to those provided by Party A, Party B shall give
priority to Party A. 
 4.2 Party A shall make commitment to Party B that the conditions that Party A provide for the third
party will not be superior to Party B concerning the same or similar services under this annex. 
 4.3 Party A has rights to
provide services for the third party under the circumstances that services provided by Party A for Party B under this annex will not be affected. 
 5. Transaction Caps 
 In 2014, 2015 and 2016, the transaction caps for the project
design and construction services provided by Party A to Party B shall be RMB 5.5 billion yuan. 

  
 18 

 Annex VI: Auxiliary Telecommunication Services 

1. Main contents 
 The auxiliary telecom services provided by Party A for Party B under this annex include: the provision of the auxiliary telecom services including pre-sale, sale and after-sale of various communication
services, such as installation, disassembly, transfer and repair of customers’ communication equipment, agential sales of certain communication products, bills printing and mailing, collecting telephone charges, making telephone cards and
developing new customers; market and customers information collection and feedback; maintenance of auxiliary equipment of communication bureaus or rooms (such as air conditioners and firefighting equipment) and telephone booths. 

2. Pricing principles 
 2.1 The pricing and/or charging standards for auxiliary telecom services under this annex shall be set based on the principles and order defined in this article: the services with prices set by the
government shall follow the governmental prices; the services with prices guided by the government shall refer to the guidance price offered by the government; those services without government’s price or guidance price but with the market
price will follow the market price; the services without a government’s price, a guide price or a market price, the two Parties will decide the price through consultation, which shall be based on the reasonable costs and profits, among which
the reasonable costs refer to the costs consulted and decided by both Party A and Party B. 
 The government’s price under
this article refers to the price set by the competent price agency or other competent agencies of the government based on the extent of pricing power and scope in accordance with the Price Law of P.R.C. 

The government’s guidance price under this article refers to the benchmark price and floating range set by the competent price
agency or other competent agencies of the government as a guide for the market operators based on the extent of pricing power and scope in accordance with the Price Law of P.R.C. 

The market price under this article refers to the price set by the operators in the market via the market competition. The market price
will be set in the following order: (1) the price offered by the independent third party for the service under the normal transaction around the place or areas where the service is provided; or (2) the price offered by the independent
third party of service provider under the normal transaction within the Chinese territory. 
 2.2 The specific amount of service
fees under this annex shall be calculated pursuant to the relevant accounting principles in China (if applicable). 
 2.3 Party
A and Party B shall examine and verify (if necessary) every service and facility provided under this annex and the pricing standards set for the next accounting year before December 31 of every year. 

2.4 Party A and Party B are expected to sign specific execution documents as needed concerning the services provided. The execution
documents shall specify the services required by Party B and the binding principles, criteria and clauses and conditions under this annex. 
 3. Service payments 
 3.1 Party B shall pay Party A or Party A’s fiduciaries
for service fees in a timely manner in accordance with the pricing and charging standards defined in this annex, the supplementary agreements of this annex (if any) and the execution documents. 

  
 19 

 3.2 If Party B fails to pay the relevant service fees as scheduled according to the
provisions in this annex, the supplementary agreements of this annex (if any) and the execution documents, Party B shall pay Party A 0.05% of the overdue amount as fine for delaying payment every one (1) day (calendar day, hereinafter
inclusive); if the payment is deferred for sixty (60) days, Party A may inform Party B in written form of the suspension of the service; if Party B fails to pay the relevant service fees within thirty (30) days upon the receipt of the
written notification, Party A may declare the termination of the relevant services. However, the suspension or termination of the services will not affect the rights and obligations underway between the two Parties under this annex. 

4. Priority 

4.1 For the same service, if the clauses and conditions provided by independent third party for Party B are not superior to those
provided by Party A, Party B shall give priority to Party A. 
 4.2 Party A shall make commitment to Party B that the conditions
that Party A provide for the third party will not be superior to Party B concerning the same or similar services under this annex. 
 4.3 Party A has rights to provide services for the third party under the circumstances that services provided by Party A for Party B under this annex will not be affected. 

5. Transaction Caps 
 In 2014, 2015 and 2016, the transaction caps for the auxiliary telecommunication services provided by Party A to Party B shall be RMB 3 billion yuan. 

  
 20 

 Annex VII: Integrated Services 

1. Main contents 
 Party A and Party B agree to provide or receive the services from each other in accordance with the clauses and conditions under this annex, including catering service, equipment leasing (except the
facilities/equipment covered by the Framework Agreement on Leasing of Communication Resources), vehicle service, medical care, labor service, security, hotel service, meeting service, gardening (afforestation), decoration, products sale,
infrastructure agents, equipment maintenance, market development, technical support, R&D, cleaning service, parking service, employment training, warehousing (such as storage of telecom equipment, including parts and circuits), advertisements
(such as those made by Party B and published on the media of Party A) and publication/printing, property management and ICT services (including support services such as construction and installation, system integration service, software development,
products sales and agency service, operation and maintenance service and consultancy service). 
 2. Pricing principles

 2.1 The pricing and/or charging standards for auxiliary telecom services under this annex shall be set based on the
principles and order defined in this article: the services with prices set by the government shall follow the governmental prices; the services with prices guided by the government shall refer to the guidance price offered by the government; those
services without government’s price or guidance price but with the market price will follow the market price; the services without a government’s price, a guide price or a market price, the two Parties will decide the price through
consultation, which shall be based on the reasonable costs and profits, among which the reasonable costs refer to the costs consulted and decided by both Party A and Party B. 
 2.2 The specific amount of service fees under this annex shall be calculated pursuant to the relevant accounting principles in China (if applicable). 

2.3 Party A and Party B shall examine and verify (if necessary) every service and facility provided under this annex and the pricing
standards set for the next accounting year before December 31 of every year. 
 2.4 Party A and Party B are expected to
sign specific execution documents as needed concerning the services provided. The execution documents shall specify the services required by Party B and the binding principles, criteria and clauses and conditions under this annex. 

3. Service payments 
 3.1 Party B shall pay Party A or Party A’s fiduciaries for service fees in a timely manner in accordance with the pricing and charging standards defined in this annex, the supplementary agreements of
this annex (if any) and the execution documents. 
 3.2 If Party B fails to pay the relevant service fees as scheduled according
to the provisions in this annex, the supplementary agreements of this annex (if any) and the execution documents, Party B shall pay Party A 0.05% of the overdue amount as fine for delaying payment every one (1) day (calendar day, hereinafter
inclusive); if the payment is deferred for sixty (60) days, Party A may inform Party B in written form of the suspension of the service; if Party B fails to pay the relevant service fees within thirty (30) days upon the receipt of the
written notification, Party A may declare the termination of the relevant services. However, the suspension or termination of the services will not affect the rights and obligations underway between the two Parties under this annex. 

4. Priority 

  
 21 

 4.1 For the same service, if the clauses and conditions provided by independent third party
for Party B are not superior to those provided by Party A, Party B shall give priority to Party A. 
 4.2 Party A shall make
commitment to Party B that the conditions that Party A provide for the third party will not be superior to Party B concerning the same or similar services under this annex. 
 4.3 Party A has rights to provide services for the third party under the circumstances that services provided by Party A for Party B under this annex will not be affected. 

5. Transaction Caps 
 In 2014, 2015 and 2016, the transaction caps for the integrated services provided by Party A to Party B shall be RMB 1 billion yuan, and those for the integrated services provided by Party B to Party A
shall be RMB 200 million yuan. 

  
 22 

 Annex VIII: Shared Services 

1. Contents of services 
 Party A and Party B agree to provide or receive relevant services from each other based on the clauses and conditions agreed upon under this annex, including (but not limited to): (1) the Headquarter
HR service provided by Party B for Party A; (2) the services of business support center (BSC) provided by the two Parties for each other and the hosting service related to the services in the Article 1 (1) and (2) provided
by Party B for Party A; (3) other shared services such as sites and the Headquarters’ listed service provided by Party A for Party B. 
 2. Headquarter HR service 
 The HR services offered by Party B for Party A
include shared service of administrative personnel and business operational management personnel at the Headquarter and the hosting management of Party A’s businesses, finance and personnel. 

3. BSC Services 

3.1 BSC services provided by Party B for Party A include: 
 (1) Collecting the data on international communication services, billing and generation of the monthly account and account checking and settlement with overseas operators; 

(2) Collecting and distributing the roaming data about the whole network-based services, including but not limited to the smart
network (such as 300 and 800), IP cards, PHS SMS and generation the inter-province roaming statement of accounting; 

(3) Settlement with other domestic operators or settlement entities for the whole network; 

(4) Intra-network settlement; 
 (5) Providing statistical reports on business data for the associated units of Party A; 
 (6) VoIP and 167 billing for the original Jitong Network Communications Company Limited; 
 3.2 BSC services provided by Party A for Party B include: 
 (1) Producing and
issuing telephone cards and IC cards on the backbone smart networks of Party A (hereinafter referred to as telecommunication cards), including identifying qualifications of, evaluating and managing card providers and relevant raw materials
providers; organizing the bidding among card providers and signing framework agreement on telecommunication cards procurement; overseeing the contracts execution by manufacturers and provincial companies; formulating the annual theme plan of
telecommunication cards; according to the theme plan, organizing the subscription and production of telecom cards by provincial companies; signing, executing the contracts on code cards of Party A and organizing their production. 

(2) Managing telecom cards service, including development of the regulations on production of telecom cards and graphic design;
gathering statistical data on cards business for operational analysis. 
 3.3 Obligations of the Parties 

(1) Party B is obligated to complete the international settlement, inter-network settlement and inter-province settlement of all
services in a timely and accurate manner pursuant to the rules about international settlement, inter-network settlement and inter-province settlement introduced by the competent agency of communication industry of the State Council and report to
Party A as required. 
 (2) Party A is obligated to complete the design, production and management of the valued cards
according to the required time limit, quantity and quality, which are agreed upon between the two Parties. 

  
 23 

 (3) Party A shall meet and complete other business demands presented by Party B on time
based on the business system and network capabilities. 
 4. Use of site 

4.1 Purpose of site use 
 (1) Party A agrees to provide its site, No. 21 office building located at the Financial Street, Xicheng District, Beijing (including air conditioners, power supply, utilities equipment and other
relevant auxiliary facilities within), for Party B according to Party B’s demand. 
 (2) Party B takes the
above-mentioned site as its main working place. 
 4.2 Commitment and guarantee. Party A guarantees that it has right to provide
the above-mentioned site for use (including air conditioners, power supply, utilities equipment and other relevant auxiliary facilities within) for Party B. If any third party, in any condition and for any reason, takes objection to Party A’s
ownership and/or right of use with the above-mentioned site or assets, and hence Party B’s rights under this annex cannot be fulfilled or are subject to any harm, Party A agrees to undertake and pay all the losses incurred to Party B. Party A
promises to provide Party B’s auditors with the accounting records about Party A and its associated personnel concerning the associated transaction. 
 5. Other shared services listed by the Headquarter 
 Party A provides Party B with
other shared services listed by the Headquarter, such as advertisements, publicity, R&D, business reception, maintenance and repair as well as property management. 
 6. Cost sharing of shared services 
 Party A and Party B agree that costs incurred
by the HR service provided for Party A from Party B, BSC services provided for each other, and sites and other shared services listed by the Headquarter (including depreciation of equipment and assets added for the shared service under this
agreement and the actual rental fee, property management fee and labor cost) will be shared between the two Parties based on each other’s ratio of total assets (Among which, Party A’s total assets exclude those of its overseas subsidiaries
and listed companies, the sharing ratio will be decided upon consultation after the two Parties offer total assets listed the their financial statements to each other and will be adjusted every year based on the change of the two Parties’ total
assets ). The specific settlements will be jointly worked out by the two Parties. 
 7. Transaction Caps 

In 2014, 2015 and 2016, the transaction caps for the shared services provided by Party A to Party B shall be RMB 500 million yuan,
and those for the shared services provided by Party B to Party A shall be RMB 100 million yuan. 

  
 24EX-4.62

 Exhibit 4.62 

 
 

 
 (incorporated in Hong Kong with limited liability) 

 
  

 
 RULES OF THE

 SHARE OPTION SCHEME 
  

 
  

Adopted by an Ordinary Resolution of 
 China Unicom (Hong Kong) Limited on 16 April 2014 

 CONTENTS 

 

							
	CLAUSE	 		  	 	PAGE	  
			
	 1.
	 	DEFINITIONS	  	 	1	  
			
	 2.
	 	PURPOSE	  	 	5	  
			
	 3.
	 	CONDITIONS	  	 	5	  
			
	 4.
	 	DURATION AND ADMINISTRATION	  	 	5	  
			
	 5.
	 	GRANT OF OPTIONS	  	 	6	  
			
	 6.
	 	SUBSCRIPTION PRICE	  	 	7	  
			
	 7.
	 	EXERCISE OF OPTIONS	  	 	8	  
			
	 8.
	 	LAPSE OF OPTION	  	 	11	  
			
	 9.
	 	MAXIMUM NUMBER OF SHARES AVAILABLE FOR SUBSCRIPTION	  	 	12	  
			
	 10.
	 	GRANT OF OPTIONS TO CONNECTED PERSONS	  	 	13	  
			
	 11.
	 	CANCELLATION	  	 	14	  
			
	 12.
	 	REORGANISATION OF CAPITAL STRUCTURE	  	 	14	  
			
	 13.
	 	SHARE CAPITAL	  	 	15	  
			
	 14.
	 	DISPUTES	  	 	15	  
			
	 15.
	 	ALTERATION OF THIS SCHEME	  	 	16	  
			
	 16.
	 	TERMINATION	  	 	16	  
			
	 17.
	 	MISCELLANEOUS	  	 	16	  

  
 i 

 CHINA UNICOM (HONG KONG) LIMITED 

 
 

 
 (incorporated in Hong Kong with limited liability) 

RULES OF THE SHARE OPTION SCHEME 
  

	1.	 DEFINITIONS 

  

	1.1	 In this Scheme the following expressions have the following meanings: 

 

			
	Adoption Date	  	 means 16 April 2014, being the date on which this Scheme is conditionally adopted by an ordinary resolution of the Company;

		
	associate	  	 has the meaning ascribed to it in the Listing Rules;

		
	Auditors	  	 means the auditors for the time being of the Company;

		
	Board	  	 means the board of Directors from time to time or a duly authorised committee of the Board;

		
	Board Lot	  	 means the board lot in which Shares are traded on the Stock Exchange from time to time;

		
	Business Day	  	 means any day on which the Stock Exchange is open for the business of dealing in securities;

		
	Connected Persons	  	 has the meaning ascribed to it in the Listing Rules;

		
	Companies (Winding Up) Ordinance	  	 means the Companies (Winding Up and Miscellaneous Provisions) Ordinance (Chapter 32 of the Laws of Hong Kong), as amended from time to
time;

		
	Companies Ordinance	  	 means the Companies Ordinance (Chapter 622 of the Laws of Hong Kong), as amended from time to time;

		
	Company	  	 means China Unicom (Hong Kong) Limited

, a company incorporated in Hong Kong with limited liability;

		
	Director	  	 means a director of the Company;

		
	Effective Date	  	 means the date on which this Scheme becomes unconditional;

  
 1 

			
	 Effective Options
	  	 means the Options granted pursuant to this Scheme and which have vested in the Grantee in accordance with the relevant Vesting Schedule and performance
criteria;

		
	 Eligible Participant
	  	 means any Director (including a Non-executive Director), any director of any subsidiary of the Company and any employee of the Group who the Board considers,
in its absolute discretion, has contributed or will contribute to the Group, subject to any mandatory requirement on this Scheme imposed by the Central Government or any governmental authority of the PRC;

		
	 Group
	  	 means the Company and its subsidiaries;

		
	 Grantee
	  	 means any Eligible Participant who accepts an Offer in accordance with the terms of this Scheme or, where the context so permits, any person who is entitled
to any such Option in consequence of the death of the original Grantee or the legal personal representative of such person or, in the case of Incapacity, the Eligible Participant’s legal personal representative;

		
	 HK$
	  	 means Hong Kong dollars, the lawful currency of Hong Kong;

		
	 Hong Kong
	  	 means the Hong Kong Special Administrative Region of the PRC;

		
	 Incapacity
	  	 means permanent and entire incapacity, whether or not caused during work, as determined in accordance with the standards formulated by the
Company;

		
	 inside information
	  	 has the meaning ascribed to it in the Listing Rules;

		
	 Listing Rules
	  	 means the Rules Governing the Listing of Securities on the Stock Exchange;

		
	 Mandatory Moratorium
	  	 means any prohibition on the exercise of any Effective Option, the imposition of which is not made by nor within the control of the Company. For the avoidance
of doubt and by way of illustration, this includes any mandatory prohibition on the exercise of any Option imposed by the Central Government or any governmental authority of the PRC;

		
	 Mandatory Moratorium Period
	  	 means the period of time during which the exercise of an Effective Option is subject to a Mandatory Moratorium;

  
 2 

 
			
	 Mandatory Transfer
	  	 means a termination of employment of a Transferred Employee by a member of the Group;

		
	 New Approval Date
	  	 has the meaning ascribed to it in Clause 9.2;

		
	 Non-executive Director(s)
	  	 means the non-executive directors of the Company, which include the independent non-executive directors of the Company;

		
	 Notice of Grant
	  	 has the meaning ascribed to it in Clause 5.2;

		
	 Offer
	  	 means the offer of the grant of an Option made in accordance with Clause 5;

		
	 Offer Date
	  	 means, in respect of an Option, the date on which an Offer is made to an Eligible Participant, which must be a Business Day;

		
	 Option
	  	 means an option to subscribe for Shares granted pursuant to the terms of this Scheme;

		
	 Option Period
	  	 means, in respect of any particular Option, the period to be determined and notified by the Board to the Grantee at the time of making an Offer during which
the Grantee may exercise such Option in accordance with the terms of this Scheme (subject to the provisions for early termination or extension thereof (as the case may be) contained in this Scheme), which period may commence on a day after the Offer
Date and in any event shall end not later than 10 years from the Offer Date;

		
	 PRC
	  	 means the People’s Republic of China (excluding, for the purpose of this Scheme, Hong Kong, the Macau Special Administrative Region and
Taiwan);

		
	 Scheme
	  	 means this share option scheme in its present form or as amended from time to time in accordance with the terms of this Scheme;

		
	 Scheme Mandate Limit
	  	 means the total number of Shares in respect of which options may be granted pursuant to this Scheme and any other share option schemes of the Company, being
10% of the aggregate of the number of Shares in issue as at the Adoption Date or the New Approval Date (as the case may be) (subject to adjustment in the event of any sub-division and consolidation of Shares after the relevant general
meeting);

		
	 Shareholder(s)
	  	 means holder(s) of Shares;

  
 3 

 
			
	 Shares
	  	 means shares in the share capital of the Company or, if there has been a sub-division, reduction, consolidation, reclassification or reconstruction of the
share capital of the Company, the shares forming part of the share capital of the Company as shall result from any such sub-division, reduction, consolidation, reclassification or reconstruction;

		
	 Stock Exchange
	  	 means The Stock Exchange of Hong Kong Limited;

		
	 Subscription Price
	  	 means the price per Share at which a Grantee may subscribe for Shares on the exercise of an Option as described in Clause 6;

		
	 subsidiary
	  	 has the meaning ascribed to it in the Listing Rules;

		
	 substantial shareholder
	  	 has the meaning ascribed to it under the Listing Rules;

		
	 Transferred Employee
	  	 means an employee of the Group who is transferred outside the Group due to reasons which are beyond his control and in respect of whom such transfer is
mandatory, and shall include a transfer to entities outside the Group which is initiated by the Central Government of the PRC. All other employees who are transferred outside the Group and whose transfer is not mandatory shall not be regarded as
Transferred Employees but shall be regarded as employees who have left the employment of the Group and their Effective Options shall be treated in accordance with Clause 7.4(a). The Board shall, in its absolute discretion, determine who is a
Transferred Employee;

		
	 Vesting Schedule
	  	 means the arrangement whereby Options granted at a particular time may be exercised in one or more Board Lots in accordance with a pre-determined timetable as
set out in the relevant Notice of Grant; and

		
	 Term
	  	 has the meaning ascribed to it in Clause 4.1.

 1.2     Clause headings are inserted for convenience only and shall be ignored
in the interpretation of this Scheme. References to Clauses are to clauses of this Scheme. 
 1.3     Unless
the context otherwise requires, words importing the singular include the plural and vice versa, and words importing gender or the neuter shall include both genders and the neuter. 

1.4     References in this Scheme to any document are to that document as amended, consolidated, supplemented, novated
or replaced from time to time. 

  
 4 

 1.5     References (express or implied) in this Scheme to ordinances and
to statutory and regulatory provisions and the Listing Rules shall be construed as references to those ordinances or statutory and regulatory provisions and the Listing Rules as respectively amended or re-enacted or as their application is modified
by other provisions (whether before or after the date hereof) from time to time and shall include any provisions of which there are re-enactments (whether with or without modification) and any orders, regulations, instruments, other subordinate
legislation or practice notes under the relevant ordinance, statutory or regulatory provision or the Listing Rules. 

1.6    For the purposes of this Scheme, Shares underlying an Option are deemed to have vested when such Option
becomes exercisable in respect of such Shares pursuant to the terms of this Scheme. 
  

	2.	 PURPOSE 

 2.1    The purpose of this Scheme is to recognise the contribution that certain individuals have made to the Group, to attract and retain the best available personnel and to promote
the success of the Group. 
  

	3.	 CONDITIONS 

  

	3.1	 This Scheme shall take effect subject to: 

  

	(a)	 the obtaining of all necessary approvals from the relevant regulatory authorities; 

 

	(b)	 the passing of an ordinary resolution of the Company to approve and adopt this Scheme and to authorise the Board to grant Options pursuant to this
Scheme and to allot and issue Shares pursuant to the exercise of any Options; and 

  

	(c)	 the Listing Committee of the Stock Exchange granting the listing of, and permission to deal in, the Shares to be issued pursuant to the exercise of
any Options. 

 3.2    A certificate of a Director that the conditions set out in
Clause 3.1 have been satisfied shall be conclusive evidence of the matters certified. 
  

	4.	 DURATION AND ADMINISTRATION 

4.1    Subject to Clause 16, this Scheme shall be valid and effective for a period of 10 years commencing on
the Effective Date (the Term), after which period no further Options shall be offered or granted but the terms of this Scheme shall remain in full force and effect to the extent necessary to give effect to the exercise of any Options
granted prior thereto or otherwise as may be required in accordance with the terms of this Scheme. 

  
 5 

 4.2    This Scheme shall be subject to the administration of the Board
whose decision as to all matters arising in relation to this Scheme or its interpretation or effect shall (save as otherwise provided herein) be final and binding on all parties. The Board shall have the right to (a) interpret and construe the
provisions of this Scheme, (b) determine the persons (if any) who shall be offered Options pursuant to this Scheme, the terms and conditions on which Options are granted, the duration of the Option Period, when the Shares underlying the Options
may vest and be exercised, the number of Shares underlying the Options and the Subscription Price, (c) subject to Clauses 12 and 15, make such adjustments to the terms of the Options granted pursuant to this Scheme to the relevant
Grantee as the Board deems necessary and shall notify the relevant Grantee of such adjustments by written notice and (d) make such other decisions or determinations as it shall deem appropriate in relation to the Offers and/or the
administration of this Scheme, provided that the same are not inconsistent with the terms of this Scheme and the Listing Rules. 

4.3    No member of the Board shall be personally liable by reason of any contract or other instrument executed by
such member or on his behalf in his capacity as a member of the Board nor for any mistake of judgement made in good faith in relation to the administration or interpretation of this Scheme, and the Company shall indemnify on demand and hold harmless
each employee or officer of the Company or any Director to whom any duty or power relating to the administration or interpretation of this Scheme may be allocated or delegated, against any cost or expense (including legal fees) or liability
(including any sum paid in settlement of a claim with the approval of the Board) arising out of any act or omission to act in connection with this Scheme unless arising out of such person’s own negligence, fraud or bad faith. 

 

	5.	 GRANT OF OPTIONS 

5.1    On and subject to the terms of this Scheme and the Listing Rules and the necessary approvals from the relevant
regulatory authorities, the Board shall be entitled during the Term to make an Offer to any Eligible Participant, as the Board may select, to take up an Option pursuant to which such Eligible Participant may, during the Option Period, subscribe for
such number of Shares (being a Board Lot or an integral multiple thereof) as the Board may determine at the Subscription Price. The Offer shall specify the terms and conditions on which the Option is granted. Such terms and conditions may, at the
absolute discretion of the Board, include, among other things, (a) the minimum period for which an Option must be held before it can be exercised, (b) a performance criteria that must be satisfied by the Eligible Participant and/or the
Group before the Option can be exercised in whole or in part and/or (c) any other terms and conditions, all of which may be imposed (or not imposed) either on a case-by-case basis or generally. 

5.2    An Offer shall be made to an Eligible Participant by letter (the Notice of Grant) in such form
as the Board may from time to time determine (a) specifying the terms and conditions on which the Option is granted, including, the number of Shares underlying the Option, the Subscription Price and the Option Period in respect of which the
Offer is made and (b) requiring the Eligible Participant to undertake to hold the Option on the terms on which it is to be granted and to be bound by the terms of this Scheme. The Offer shall remain open for acceptance by the Eligible
Participant for a period of not more than 28 days after the Offer Date as determined by the Board, provided that no such Offer shall be open for acceptance after the expiry of the Term or after this Scheme has been terminated in accordance with the
terms of this Scheme or after the Eligible Participant to whom the Offer is made has ceased to be an Eligible Participant. The Offer shall be personal to the Eligible Participant concerned and shall not be transferable. 

  
 6 

 5.3    No Offer shall be made to, nor shall any Offer be capable of
acceptance by, any Eligible Participant at a time when the Eligible Participant would or might be prohibited from dealing in the Shares by the Listing Rules or by any other applicable laws, regulations or rules or by any mandatory requirement on
this Scheme imposed by the relevant regulatory authorities. 
 5.4    An Offer shall be deemed to have been
accepted and to have taken effect when the duplicate Notice of Grant comprising acceptance of the Offer duly signed by the Grantee together with a remittance in favour of the Company of HK$1.00 by way of consideration for the grant thereof is
received by the Company within the time period specified in the Offer. Such remittance shall in no circumstances be refundable. 

5.5    An Offer may be accepted or deemed to have been accepted in respect of less than the number of Shares in
respect of which it is offered, provided that it is accepted in respect of a Board Lot or an integral multiple thereof. To the extent that an Offer is not accepted within the time period and in the manner specified in the Offer, the Offer will be
deemed to have been irrevocably declined. 
 5.6    Any grant of Options may not be made after inside
information has come to the Company’s knowledge until the Company has announced such information in accordance with the requirements of the Listing Rules. In particular, during the period commencing one month immediately preceding the earlier
of: 
  

	(a)	 the date of the meeting of the Board (as such date is first notified to the Stock Exchange in accordance with the Listing Rules) for the approval of
the Company’s results for any year, half-year, quarterly or any other interim period (whether or not required under the Listing Rules); and 

  

	(b)	 the deadline for the Company to publish an announcement of its results for any year or half-year under the Listing Rules, or quarterly or any other
interim period (whether or not required under the Listing Rules), 

 and ending on the date of the results
announcement, no Options may be granted; and where a grant of Options is to a Director, no Options may be granted on any day on which the financial results of the Company are published and during the period of: 

 

	(c)	 60 days immediately preceding the publication date of the annual results or, if shorter, the period from the end of the relevant financial year up
to the publication date of the results; and 

  

	(d)	 30 days immediately preceding the publication date of the quarterly results (if any) and half-year results or, if shorter, the period from the end
of the relevant quarterly or half-year period up to the publication date of the results. 

  

	6.	 SUBSCRIPTION PRICE 

 6.1    The Subscription Price in respect of any Option shall be a price determined by the Board in its absolute discretion and notified to any Eligible Participant (subject to any
adjustments made pursuant to Clause 12) but in any event shall not be less than the higher of: 
  

	(a)	 the closing price of the Shares as stated in the Stock Exchange’s daily quotation sheets on the relevant Offer Date in respect of such Option;
and 

  
 7 

	(b)	 the average closing price of the Shares as stated in the Stock Exchange’s daily quotation sheets for the five Business Days immediately
preceding the relevant Offer Date. 

  

	7.	 EXERCISE OF OPTIONS 

7.1    An Option shall be personal to the Grantee and shall not be assignable or transferable by the Grantee and the
Grantee shall not in any way sell, transfer, charge, mortgage, encumber or create any interest in favour of any third party over or in relation to any Option. 
 7.2    An Option may be exercised in whole or in part (but if in part only, in respect of a Board Lot or any integral multiple thereof) in the manner set out in Clauses 7.3 and
7.4 by the Grantee giving notice in writing to the Company stating that the Option is thereby exercised and specifying the number of Shares in respect of which it is exercised. Each such notice must be accompanied by a remittance for the full
amount of the aggregate Subscription Price for the Shares in respect of which the notice is given, save to the extent that other arrangements have been made for the payment of the Subscription Price which are satisfactory to the Board. The aggregate
Subscription Price may be paid in (a) cash, (b) cheque or (c) any other means deemed acceptable by the Board. Within 28 days after receipt of the notice and the payment of the full amount of the relevant aggregate Subscription Price
and, where appropriate, receipt of the Auditors’ certificate or the certificate from the independent financial adviser to the Company (as the case may be) pursuant to Clause 12, the Company shall allot and issue the relevant number of
Shares to the Grantee credited as fully paid and issue to the Grantee (or his custodian agent) share certificate(s) in respect of the Shares so allotted. Any exercise of an Option by a Grantee shall be subject to the applicable laws, regulations,
rules and requirements of any relevant country or jurisdiction. 
 7.3    Subject to any restrictions
applicable under the Listing Rules, an Option may be exercised by the Grantee at any time during the Option Period in accordance with the terms of this Scheme and the terms and conditions on which the Option was granted. If the vesting of Shares
underlying an Option is subject to the satisfaction of performance or other conditions and such conditions are not satisfied, the Option shall lapse automatically on the date on which such conditions are not satisfied in respect of the relevant
Shares underlying the Option. 
 7.4    Subject as hereinafter provided and Clause 5, an Option may
be exercised by the Grantee at any time during the Option Period provided that exercise of the Options by the Grantee shall comply with any timing requirement and satisfy any performance criteria put in place by the Board from time to time, and that
the following be complied with: 
  

	(a)	 in the event the Grantee ceases to be an Eligible Participant for any reason other than his death, retirement, Incapacity, Mandatory Transfer or on
one or more of the grounds specified in Clause 8.1(e) or 8.1(f) resulting in a lapse of the Option, the Effective Options of the Grantee which have not been exercised on or before the date of cessation of employment will lapse
automatically on the date immediately after such cessation and such Options shall in no circumstances be exercisable. For the avoidance of doubt, a Grantee does not cease to be an Eligible Participant only by reason of an internal transfer to
another member of the Group; 

  
 8 

	(b)	 in the event of the death of the original Grantee and none of the grounds specified in Clause 8.1(e) or 8.1(f) has occurred, the legal
successors of the Grantee shall be entitled, at any time within six months from the date of death of the original Grantee , to exercise the Effective Options granted to the original Grantee before or on the date of death of such Grantee (to the
extent not already exercised).The legal successors of the deceased Grantee shall be limited to personal legal representatives of the deceased Grantee or the persons who are entitled to inherit the rights of exercise of the deceased Grantee under
this Scheme by will or by the laws of succession; 

  

	(c)	 in the event a general offer for Shares by way of takeover or otherwise (other than by way of a scheme of arrangement) is made to all the
Shareholders (or all such Shareholders other than the offeror and/or any person controlled by the offeror and/or any person acting in association or in concert with the offeror), the Company shall use its best endeavours to procure that such offer
is extended to all the Grantees on the same terms mutatis mutandis. If such offer becomes or is declared unconditional prior to the expiry date of the relevant Option, notwithstanding any other terms on which the Option was granted, the
Grantee shall be entitled to exercise the Effective Option (to the extent not already exercised) to its full extent or to the extent specified in the Grantee’s notice to the Company in accordance with Clause 7.2 at any time thereafter
and up to the close of the offer (or, as the case may be, revised offer). Options granted but unvested may not be vested in the Grantee in an accelerated manner compared to the original Vesting Schedule. Subject to the foregoing, the Option (to the
extent not already exercised) will lapse automatically on the date on which such offer (or, as the case may be, revised offer) closes; 

  

	(d)	 in the event a general offer for Shares by way of a scheme of arrangement is made to all the Shareholders, the Company shall use its best endeavours
to procure that such offer is extended to all the Grantees on the same terms mutatis mutandis. If such scheme of arrangement has been approved by the Shareholders at the requisite meetings prior to the expiry date of the relevant Option,
notwithstanding any other terms on which the Option was granted, each Grantee shall be entitled to exercise the Effective Option (to the extent not already exercised) to its full extent or to the extent specified in the Grantee’s notice to the
Company in accordance with Clause 7.2 at any time thereafter and up to the record date for determining entitlements under such scheme of arrangement. Options granted but unvested may not be vested in the Grantee in an accelerated manner
compared to the original Vesting Schedule. Subject to the foregoing and the scheme of arrangement becoming effective, the Option (to the extent not already exercised) will lapse automatically on the record date for determining entitlements under
such scheme of arrangement; 

  

	(e)	 in the event a notice is given by the Company to the Shareholders to convene a general meeting for the purposes of considering and, if thought fit,
approving a resolution to voluntarily wind-up the Company prior to the expiry date of the relevant Option, the Company shall give notice thereof to all the Grantees on the same day as it despatches to the Shareholders the notice convening the
meeting (such notice to be given not later than three Business Days prior to the date of the proposed meeting) and, notwithstanding any other terms on which the Option was granted, each Grantee shall be entitled to exercise the Effective Option (to
the extent not already exercised) to its full extent or to the extent specified in the Grantee’s notice to the Company in accordance with Clause 7.2. Options granted but unvested may not be vested in the Grantee in an accelerated manner
compared to the original Vesting Schedule. The Company shall as soon as possible and in any event no later than one Business Day immediately prior to the date of the proposed meeting, allot and issue such number of Shares to the Grantee which falls
to be issued on such exercise of the Option, credited as fully paid and shall issue to the Grantee (or his custodian agent) share certificate(s) in respect of the Shares so allotted. With effect from the date of such meeting, the rights of all
Grantees to exercise their respective Options shall forthwith be suspended. On the date of the commencement of the voluntary winding-up of the Company, all Options shall, to the extent that they have not been exercised, lapse automatically. If, for
any reason, the resolution for the voluntary winding-up of the Company is not approved by the Shareholders, the rights of the Grantees to exercise their respective Options shall be restored in full as if such resolution for the voluntary winding-up
of the Company has not been proposed by the Company and neither the Company nor the Directors shall be liable for any loss or damage suffered or sustained by any Grantee as a result of the aforesaid suspension of rights;

  
 9 

	(f)	 if, pursuant to the Companies Ordinance, a compromise or arrangement between the Company and the Shareholders and/or the creditors of the Company is
proposed for the purposes of or in connection with a scheme for the reconstruction of the Company or its amalgamation with any other company or companies prior to the expiry date of the relevant Option, the Company shall give notice thereof to all
Grantees (together with a notice of the existence of the provisions of this Clause 7.4(f), such notice to be given no later than three Business Days prior to the date of the proposed meeting) on the same date as it despatches to the
Shareholders and/or the creditors of the Company a notice summoning the meeting to consider such a compromise or arrangement and, notwithstanding any other terms on which the Option was granted, each Grantee shall be entitled to exercise the
Effective Option (to the extent not already exercised) to its full extent or to the extent specified in the Grantee’s notice to the Company in accordance with Clause 7.2. Options granted but unvested may not be vested in the Grantee in
an accelerated manner compared to the original Vesting Schedule. The Company shall as soon as possible and in any event no later than one Business Day immediately prior to the date of the proposed meeting, allot and issue such number of Shares to
the Grantee which falls to be issued on such exercise of the Option, credited as fully paid and shall issue to the Grantee (or his custodian agent) share certificate(s) in respect of the Shares so allotted. With effect from the date of such meeting,
the rights of all Grantees to exercise their respective Options shall forthwith be suspended. Upon such compromise or arrangement becoming effective, all Options shall, to the extent that they have not been exercised, lapse automatically. The Board
shall endeavour to procure that the Shares issued as a result of the exercise of Options under this Clause 7.4(f) shall for the purposes of such compromise or arrangement form part of the issued share capital of the Company on the effective
date thereof and that such Shares shall in all respects be subject to such compromise or arrangement. If, for any reason, such compromise or arrangement is not approved by the Court (whether upon the terms presented to the Court or upon any other
terms as may be approved by such Court), the rights of the Grantees to exercise their respective Options shall, with effect from the date of the making of the order by the Court, be restored in full and shall thereupon become exercisable (but
subject to the other terms of this Scheme) as if such compromise or arrangement had not been proposed by the Company and neither the Company nor the Directors shall be liable for any loss or damage suffered or sustained by any Grantee as a result of
the aforesaid suspension of rights; 

  
 10 

	(g)	 in the event of the retirement or Incapacity of the Grantee and none of the grounds specified in Clause 8.1(e) or 8.1(f) has occurred,
the Grantee may, at any time within six months from the date of the retirement or Incapacity of such Grantee, exercise the Effective Options granted to the Grantee before or on the date of the retirement or Incapacity of such Grantee (to the extent
not already exercised); 

  

	(h)	 in the event of a Mandatory Transfer and none of the grounds specified in Clause 8.1(e) or 8.1(f) has occurred, the Transferred
Employee may, at any time within six months from the date of the Mandatory Transfer, exercise the Effective Options granted to the Grantee before or on the date of the Mandatory Transfer (which date shall be the last actual working day of the
Transferred Employee with the relevant member of the Group whether salary is paid in lieu of notice or not) of such Grantee (to the extent not already exercised); 

 

	(i)	 in the event that a Mandatory Moratorium is imposed in respect of any Effective Option during the relevant Option Period (being the Option Period
notified by the Board to the Grantee at the time of grant pursuant to Clause 5.2 and as may be subsequently modified in accordance with the other terms of this Scheme), the Board shall have the power to extend the Option Period of the
relevant Effective Options by such period (which shall not exceed the aggregate Mandatory Moratorium period to which the relevant Effective Option is at that time known to the Board to have been and/or will be subject) as the Board shall in its
absolute discretion determine, by giving notice thereof to the relevant Grantee; and 

  

	(j)	 following the exercise of such Options, the aggregate gains (whether or not realised) achieved by the Grantee from all exercised Effective Options
and/or options granted to the Grantee under any other share option schemes of the Company during the exercise period of all such options shall comply with any mandatory requirement on the exercise of any such Option imposed by the relevant
regulatory authorities. 

 7.5        No dividends or distributions
shall be payable in respect of any Shares underlying an Option which has not been exercised. Subject to the foregoing, the Shares which are allotted and issued upon the exercise of an Option shall be subject to all the provisions of the Articles of
Association of the Company for the time being in force and shall rank pari passu in all respects with, and shall have the same voting, dividend, transfer and other rights (including those rights arising on a winding-up of the Company) as, the
existing fully paid Shares in issue on the date on which those Shares are allotted and issued upon the exercise of the Option and, without prejudice to the generality of the foregoing, shall entitle the holders to participate in all dividends and
other distributions paid or made on or after the date of on which the Shares are allotted and issued, other than any dividends or distributions previously declared or recommended or resolved to be paid or made if the record date therefore shall be
before the date on which the Shares are allotted ad issued. 
  

	8.	 LAPSE OF OPTION 

8.1        An Option shall lapse automatically and not be exercisable (to the extent not already
exercised) on the earliest of: 
  

	(a)	 the expiry of the Option Period (subject to the provisions of this Scheme); 

 

	(b)	 the expiry of any of the periods referred to in Clauses 7.4(a), 7.4(b), 7.4(c), 7.4(d), 7.4(g) or 7.4(h);

  
 11 

	(c)	 the date of the commencement of the winding-up of the Company (as determined in accordance with the Companies (Winding Up) Ordinance);

  

	(d)	 the date on which the compromise or arrangement of the Company referred to in Clause 7.4(f) becomes effective; 

 

	(e)	 the date on which the Board resolves that the Option of the Grantee shall lapse and not be exercisable as a result of the Grantee, being an employee
(including an executive director) of any member of the Group, ceasing to be such an employee by reason of the summary termination of his employment on any one or more of the grounds that he has been guilty of misconduct or has been convicted of any
criminal offence involving his integrity or honesty. A resolution of the board of directors of the relevant member of the Group to the effect that the employment of a Grantee has or has not been terminated on one or more of the grounds specified in
this Clause 8.1(e) shall be conclusive for the purpose of determining whether the employment of the Grantee will be terminated; 

  

	(f)	 the date on which the Board resolves that the Option of the Grantee shall lapse as a result of the Board or a general meeting of the Shareholders
having resolved, in accordance with their respective powers granted under the Articles of Association of the Company or relevant laws or regulations, that the Grantee, being a Non-executive Director, shall cease to hold the office of Non-executive
Director on any one or more of the grounds that he has been guilty of misconduct, has been convicted of any criminal offence involving his integrity or honesty, is prohibited by laws or regulation or court order from being a director, or is
reprimanded by the Stock Exchange or any other stock exchange outside Hong Kong or by any relevant regulatory or governmental authorities; 

  

	(g)	 the date on which the Grantee commits a breach of Clause 7.1; and 

 

	(h)	 (in respect of an Option the exercise of which is subject to vesting condition(s)) the date on which the performance criteria to vesting of the
Option is not satisfied. 

  

	9.	 MAXIMUM NUMBER OF SHARES AVAILABLE FOR
SUBSCRIPTION 

 9.1        At any time during the
Term, the maximum aggregate number of Shares in respect of which Options may be granted pursuant to this Scheme shall be calculated in accordance with the following formula: 
 X = A – B – C 
 where: 

 

					
	 X
	  	 =
	  	 the maximum aggregate number of Shares in respect of which Options may be granted pursuant to this Scheme;

			
	 A
	  	 =
	  	 the Scheme Mandate Limit;

			
	 B
	  	 =
	  	 the maximum aggregate number of Shares underlying the Options already granted pursuant to this Scheme; and

			
	 C
	  	 =
	  	 the maximum aggregate number of Shares underlying the options already granted pursuant to any other share option schemes of the Company.

  
 12 

 Shares in respect of options which have lapsed in accordance with the terms of this Scheme
and any other share option schemes of the Company will not be counted for the purpose of determining the maximum aggregate number of Shares in respect of which Options may be granted pursuant to this Scheme. 

9.2    The Scheme Mandate Limit may be renewed subject to prior Shareholders’ approval, but in any event, the
total number of Shares in respect of which options may be granted pursuant to this Scheme and any other share option schemes of the Company following the date of approval of the renewed limit (the New Approval Date) under the limit as
renewed must not exceed 10% of the total number of Shares in issue as at the New Approval Date (subject to adjustment in the event of any sub-division and consolidation of Shares after the relevant general meeting). Shares in respect of options
granted pursuant to this Scheme and any other share option schemes of the Company (including those outstanding, cancelled, lapsed in accordance with this Scheme or any other share option schemes of the Company or exercised options) prior to the New
Approval Date will not be counted for the purpose of determining the maximum aggregate number of Shares in respect of which options may be granted following the New Approval Date under the limit as renewed. For the avoidance of doubt, Shares issued
prior to the New Approval Date pursuant to the exercise of options granted pursuant to this Scheme and any other share option schemes of the Company will be counted for the purpose of determining the number of Shares in issue as at the New Approval
Date. 
 9.3    The maximum number of Shares issued and to be issued upon the exercise of the Options
granted to each Eligible Participant pursuant to this Scheme (including both exercised and outstanding Options) in any 12-month period shall not (when aggregated with any Shares underlying the options granted during such period pursuant to any other
share option schemes of the Company) exceed 1% of the total number of Shares in issue for the time being. 
  

	10.	 GRANT OF OPTIONS TO CONNECTED PERSONS

 10.1 Any grant of Options to any Director, chief executive or substantial shareholder of the Company,
or any of their respective associates, shall be subject to the prior approval of the independent non-executive Directors (excluding the independent non-executive Director who is the proposed Grantee of the Options in question). Where any grant of
Options to a substantial shareholder or an independent non-executive Director, or any of their respective associates, would result in the Shares issued and to be issued upon the exercise of all options already granted and to be granted (including
options exercised, cancelled and outstanding) to such person pursuant to this Scheme and any other share option schemes of the Company in the 12-month period up to and including the Offer Date: 

 

	(a)	 representing in aggregate over 0.1% of the total number of Shares in issue on the Offer Date; and 

 

	(b)	 having an aggregate value, based on the closing price of the Shares as stated in the daily quotations sheets issued by the Stock Exchange on the
Offer Date, in excess of HK$5 million, 

  
 13 

 such further grant of Options shall be subject to prior approval by the Shareholders in
general meeting and all connected persons of the Company shall abstain from voting in favour of the resolution relating to the grant of such Options at such general meeting. The Company shall send a circular to the Shareholders in accordance with
the requirements of the Listing Rules. Unless provided otherwise in the Listing Rules, the date of the Board meeting for proposing such further grant of Options is to be taken as the Offer Date for the purposes of calculating the Exercise Price.

 10.2    Any change in the terms of an Option granted to any Director, chief executive or substantial
shareholder of the Company, or any of their respective associates, shall be subject to the prior approval of the Shareholders in general meeting and all connected persons of the Company shall abstain from voting in favour of the resolution relating
to the change in the terms of such Options at such general meeting. The Company shall send a circular to the Shareholders in accordance with the requirements of the Listing Rules. 

 

	11.	 CANCELLATION 

 11.1    The Board may at any time cancel Options previously granted to but not yet exercised by a Grantee. Where the Company cancels Options and offers new Options to the same Grantee,
the offer of such new Options may only be made with available Options to the extent not yet granted (excluding the cancelled Options) within the limits prescribed by Clause 9. 

 

	12.	 REORGANISATION OF CAPITAL STRUCTURE 

12.1    In the event of an alteration in the capital structure of the Company whilst any Option remains exercisable
by way of a capitalisation of profits or reserves, bonus issue, rights issue, open offer, subdivision or consolidation of shares or reduction of the share capital of the Company in accordance with applicable laws and the Listing Rules (other than
any alteration in the capital structure of the Company as a result of an issue of Shares as consideration in a transaction to which the Company or any of its subsidiaries is a party or in connection with any share option, restricted share or other
equity incentive schemes of the Company) whilst any Option remains unvested or has vested but not yet been exercised, such corresponding adjustments (if any) shall be made to: 

 

	(a)	 the number of Shares underlying the Option so far as unexercised; and/or 

 

	(b)	 the Subscription Price, 

or any combination thereof, provided that 
  

	(c)	 any such adjustments give a Grantee the same proportion of the share capital of the Company as that to which that Grantee was previously entitled;
and 

  

	(d)	 notwithstanding Clause 12.1(c), any adjustments as a result of an issue of securities with a price-dilutive element, such as a rights issue,
open offer or capitalisation issue, should be based on a scrip factor similar to the one used in accounting standards in adjusting the earnings per share figures. 

In respect of any such adjustments, the Auditors or an independent financial adviser to the Company (as the case may be) must confirm to
the Directors in writing that the adjustments are in their opinion fair and reasonable. 

  
 14 

 12.2    The Company shall engage the Auditors or an independent
financial adviser to the Company to certify in writing, either generally or as regards any particular Grantee, that the adjustments made by the Company under Clause 12.1 satisfy the requirements set out in Clauses 12.1(c) and
12.1(d). The capacity of the Auditors or the independent financial adviser to the Company (as the case may be) in this Clause 12 is that of experts and not of arbitrators and their certification shall, in the absence of manifest error,
be final and binding on the Company and the Grantees. The costs of the Auditors or the independent financial adviser to the Company (as the case may be) shall be borne by the Company. 

 

	13.	 SHARE CAPITAL 

 13.1    The Shares which are allotted and issued upon the exercise of an Option shall be subject to all the provisions of the Articles of Association of the Company for the time being
in force. 
 13.2    The Options do not carry any right to vote at general meetings of the Company or any
dividend, transfer or other rights (including those arising on the winding-up of the Company). 
 13.3    No
Grantee shall enjoy any of the rights of a Shareholder by virtue of the grant of an Option pursuant to this Scheme, unless and until Shares underlying the Option are actually issued to the Grantee pursuant to the exercise of such Option. 

 

	14.	 DISPUTES 

 14.1    Any dispute arising in connection with this Scheme (whether as to the number of Shares underlying an Option, the amount of the Subscription Price or otherwise) shall be
referred to the decision of the Auditors or the independent financial adviser to the Company (as the case may be) who shall act as experts and not as arbitrators and whose decision shall, in the absence of manifest error, be final and binding on the
Company and the Grantee. The costs of the Auditors or the independent financial adviser to the Company (as the case may be) shall be shared equally between the Company and the relevant Grantee. 

14.2    In the event that any party to the dispute referred to above does not agree to resolve the relevant dispute
in accordance with the procedures set out in Clause 14.1 or the Auditors or the independent financial adviser to the Company (as the case may be) are unwilling to act in accordance with Clause 14.1, the dispute shall be settled by
arbitration in accordance with the UNCITRAL Arbitration Rules as at present in force and as may be amended by the rest of this Clause 14.2. 
  

	(a)	 The appointing authority shall be the Hong Kong International Arbitration Centre. 

 

	(b)	 The place of arbitration shall be in Hong Kong at the Hong Kong International Arbitration Centre. 

 

	(c)	 There shall be only one arbitrator. 

  

	(d)	 The language(s) to be used in the arbitral proceedings shall be English. 

  
 15 

	15.	 ALTERATION OF THIS SCHEME 

15.1    Save as provided in this Scheme, the Board may alter any of the terms of this Scheme and the terms of the
Options (including amendments in order to comply with changes in legal or regulatory requirements) at any time. 

15.2    Those specific provisions of this Scheme which relate to matters set out in Rule 17.03 of the Listing Rules
cannot be altered to the advantage of Eligible Participants and changes to the authority of the Board in relation to any alteration of the terms of this Scheme shall not be made, in either case, without the prior approval of the Shareholders in
general meeting. 
 15.3    Any alterations to the terms and conditions of this Scheme which are of a
material nature or any changes to the terms of the Options granted must be approved by the Shareholders in general meeting, except where the alterations or changes take effect automatically under the existing terms of this Scheme. The Board’s
determination as to whether any proposed alteration to the terms and conditions of this Scheme is material shall be conclusive. 

15.4    This Scheme so altered must comply with Chapter 17 of the Listing Rules and any mandatory requirement on this
Scheme imposed by the relevant regulatory authorities from time to time. 
  

	16.	 TERMINATION 

 16.1    The Company by ordinary resolution in general meeting or the Board may at any time terminate this Scheme and in such event, no further Options may be offered or granted but in
all other respects the terms of this Scheme shall remain in full force and effect in respect of Options which are granted during the life of this Scheme and which remain exercisable immediately prior to the termination of the operation of this
Scheme. 
  

	17.	 MISCELLANEOUS 

 17.1    This Scheme shall not form part of any contract of employment or engagement of services between the Company or any of its subsidiaries and any Eligible Participant and the
rights and obligations of any Eligible Participant under the terms of his office, employment or engagement in services shall not be affected by the participation of the Eligible Participant in this Scheme or any right which he may have to
participate in it and this Scheme shall afford such Eligible Participant no additional rights to compensation or damages in consequence of the termination (howsoever caused) of such office, employment or engagement for any reason (whether lawful or
unlawful). 
 17.2    This Scheme shall not confer on any person any legal or equitable rights (other than
those arising from or constituting the Options themselves) against the Company directly or indirectly or give rise to any cause of action at law or in equity against the Company. 

17.3    The Company shall bear the costs of establishing and administering this Scheme. 

17.4    A Grantee shall be entitled to receive for information only copies of all notices and other documents sent by
the Company to the Shareholders generally. 

  
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 17.5    Any notice or other communication between the Company and a
Grantee may be given by sending the same by prepaid post or by personal delivery to, in the case of the Company, its principal place of business in Hong Kong or such other address as notified to the Grantee from time to time (and marked for the
attention of the Secretary) and, in the case of the Grantee, his address as notified to the Company from time to time. 

17.6    Any notice or other communication served by post: 

 

	(a)	 by the Company shall be deemed to have been served one Business Day after the same was put in the post; and 

 

	(b)	 by the Grantee shall not be deemed to have been received until the same shall have been received by the Company. 

Any notice or other communication served by the Company or a Grantee by hand shall be deemed to be served when delivered. 

17.7    Any liability of a Grantee to tax or social security contributions in respect of a grant or exercise of his
Options shall be for the account of the Grantee and the allotment and issue of Shares pursuant to the exercise of his Options shall be conditional on the Grantee complying with any arrangements specified by the Company for the payment of any tax and
social security contributions (including, without limitation, authorising the Company to (a) sell, on behalf of the Grantee, a sufficient number of the Shares issued to the Grantee pursuant to the exercise of his Options to satisfy any tax and
social security contribution liability or (b) withhold the amount of any tax and social security contribution liability from any remuneration or other amounts owing to the Grantee). 

17.8    All allotments and issues of Shares will be subject to all necessary consents and regulatory requirements
under any relevant legislation for the time being in force in Hong Kong, the PRC and such other jurisdictions where a Grantee is located, resident or employed. A Grantee shall be responsible for obtaining any governmental or other official consent
and going through any other governmental or other official procedures that may be required by any country or jurisdiction for the grant or exercise of his Option. A Grantee shall pay all tax and discharge all other liabilities to which he may become
subject to as a result of his participation in this Scheme or the exercise of any Option. The Company or any of its subsidiaries may coordinate or assist a Grantee in complying with such applicable requirements and taking any other actions as may be
required by any applicable laws, regulations or rules, however, neither the Company nor any of its subsidiaries shall be responsible for any failure by a Grantee to obtain any such consent or for any tax or other liability to which a Grantee may
become subject as a result of his participation in this Scheme. A Grantee shall, on demand, indemnify the Company in full against all claims and demands which may be made against the Company (whether alone or jointly with other party or parties) for
or in respect of or in connection with any failure on the part of the Grantee to obtain any necessary consent referred to above or to pay tax or other liabilities referred to above and against all incidental costs and expenses which may be incurred
by the Company. 
 17.9    The Board shall have the power from time to time to make or vary regulations for
the administration and operation of this Scheme, provided that the same are not inconsistent with the other provisions of this Scheme. The Board shall also have the power to delegate its powers to grant Options to Eligible Participants and to
determine the Subscription Price to any of the Directors or any duly authorised committee of the Board from time to time. 

  
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 17.10    The Board shall be entitled to establish such arrangements as
it deems reasonably necessary with respect to the mechanisms to implement the exercise of Options and the related registration, recordation and reporting matters to ensure that the Grantees and the Company can comply with all applicable securities,
foreign exchange and tax regulations of all relevant jurisdictions, including without limitation, Hong Kong and the PRC. Each Grantee shall authorise the Company to establish all necessary brokerage and other accounts on the Grantee’s behalf
and shall provide to the Company such information as the Board deems necessary in connection with the Company’s and the Grantee’s compliance with the foregoing obligations. 

17.11    This Scheme and all Options granted and exercised hereunder shall comply with all applicable laws and
regulations (including the Listing Rules and any mandatory requirement on this Scheme imposed by the relevant regulatory authorities from time to time). 
 17.12    This Scheme and all Options granted hereunder shall be governed by and construed in accordance with the laws of Hong Kong. 

  
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