Document:

Shareholders Agreement between the Registrant and other parties

 Exhibit 4.4 

SHAREHOLDERS AGREEMENT 

THIS SHAREHOLDERS AGREEMENT (this “Agreement”) is made and entered into as of October 10, 2006 by and among
AutoNavi Holdings Ltd., a Cayman Islands exempted limited liability company (the “Company”), each of the entities listed on Exhibit A hereto (collectively, the “Founder Entities” and each, a “Founder
Entity”), each of the individuals listed on Exhibit B hereto (collectively, the “Founders” and each, a “Founder”), and each of the persons listed on Exhibit C hereto (collectively, the
“Investors” and each, an “Investor”). The Investors and the Founders together are collectively the “Shareholders” and each, a “Shareholder”. 

RECITALS 

A. The Investors have agreed to purchase from the Company, and the Company has agreed to sell to the Investors certain Series A Shares,
on the terms and conditions set forth in the Purchase Agreement. 
 B. The Purchase Agreement provides that the execution and
delivery of this Agreement by the parties shall be a condition precedent to the consummation of the transactions contemplated under the Purchase Agreement. 

NOW, THEREFORE, in consideration of the foregoing recitals, the mutual promises hereinafter set forth, and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereby agree as follows: 
  

	1.	DEFINITIONS AND INTERPRETATION 

1.1 In this Agreement, including the Exhibits hereto, unless the context otherwise requires: 

“Affiliate” shall mean with respect to any Person, any other Person that directly, or indirectly through one or more
intermediaries, controls, or is controlled by, or under common control with, such Person; 
 “AutoNavi” shall
mean AutoNavi Software Co., Ltd. 

, a PRC domestic limited liability company; 
 “Blue Sky laws” shall mean the
laws or statutes of any state of the United States of America or any other jurisdiction regulating the sale of corporate securities within that state or jurisdiction; 

“Board” shall mean the Board of Directors of the Company; 

“Closing Date” shall mean the date on which the Closing (as defined in the Purchase Agreement) occurs; 

“Co-Sale Notice” shall have the meaning set forth in Section 5.4; 

“Co-Sale Pro Rata Portion” shall have the meaning set forth in Section 5.4(a); 

 

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 “Co-Sale Right Period” shall have the meaning set forth in
Section 5.4; 
 “Company First Refusal Period” shall have the meaning set forth in Section 5.3(a);

 “Competitor” shall mean any of the individuals and entities included in a list of competitors prepared by
the Company, which list shall be provided to each of the Investors within fifteen (15) days following the date hereof and updated periodically by the Company upon approval by the Board; 

“Confidential Information” shall mean the Identity Information together with the Terms; 

“Exchange Act” shall mean the U.S. Securities Exchange Act of 1934, as amended, and any successor statute; 

“First Participation Notice” shall have the meaning set forth in Section 4.4(a); 

“First Refusal Expiration Notice” shall have the meaning set forth in Section 5.3(d); 

“Identity Information” shall mean the identity of the parties to this Agreement and to the Purchase Agreement;

 “Information Rights” shall have the meaning set forth in Section 2.1(a); 

“Initiating Holders” shall have the meaning set forth in Section 3.3; 

“Inspection Rights” shall have the meaning set forth in Section 2.1(b); 

“Mapabc” shall mean Beijing Mapabc Co., Ltd. 

, a PRC domestic limited liability company; 
 “Memorandum and Articles” shall
mean the Amended and Restated Memorandum and Articles of Association of the Company; 
 “New Securities” shall
have the meaning set forth in Section 4.3: 
 “Offered Shares” shall have the meaning set forth in
Section 5.2; 
 “Ordinary Shares” shall mean the ordinary shares, par value US$0.0001 per share, of the
Company; 
 “Participation Rights Holder” shall have the meaning set forth in Section 4.1; 

“Permitted Transferee” shall have the meaning set forth in Section 5.5; 

“Person” shall mean any individual, partnership, corporation, association, joint stock company, trust, joint venture,
limited liability company or governmental authority; 
  

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 “PRC” shall mean the People’s Republic of China, excluding the Special
Administrative Regions of Hong Kong and Macau, and Taiwan, for the purpose of this Agreement only; 
 “PRC
Companies” shall mean collectively Mapabc, AutoNavi, Shanghai AutoNavi, and ZKPH, and each, a “PRC Company”; 

“PRC Subsidiary” shall mean Beijing AutoNavi Technology Limited 

, a wholly foreign owned enterprise established in Beijing under the laws of the PRC; 

“Pro Rata Share” shall have the meaning set forth in Section 4.2; 

“Purchase Agreement” shall mean the Series A Convertible Preferred Share Purchase Agreement dated as of
September 27, 2006 by and among the Company, the PRC Companies, the Founders and the Investors, and any successor agreement thereto; 

“Qualified Public Offering” shall have the meaning set forth in Section 2.1(c); 

“Request Notice” shall have the meaning set forth in Section 3.3; 

“Restricted Holder” shall have the meaning set forth in Section 5.1; 

“Restricted Holder First Refusal Period” shall have the meaning set forth in Section 5.3(b); 

“Restricted Shares” shall have the meaning set forth in Section 5.1; 

“Right of Participation” shall have the meaning set forth in Section 4.1; 

“Right Participants” shall have the meaning set forth in Section 4.4(b); 

“SEC” or “Commission” shall mean the U.S. Securities and Exchange Commission; 

“Second Participation Notice” shall have the meaning set forth in Section 4.4(b); 

“Second Participation Period” shall have the meaning set forth in Section 4.4(b) 

“Securities Act” shall mean the United States Securities Act of 1933, as amended, including any successor statutes;

 “Selling Shareholder” shall have the meaning set forth in Section 5.2; 

“Series A Holder” shall have the meaning set forth in Section 5.1; 

“Sequoia” shall mean collectively Sequoia Capital China I, L.P., Sequoia Capital China Partners Fund I, L.P., and
Sequoia Capital China Principals Fund I, L.P.; 
  

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 “Series A Shares” shall mean the Series A preference shares, par value
US$0.0001 per share, of the Company; 
 “Shanghai AutoNavi” shall mean Shanghai AutoNavi Software Co., Ltd. 

, a PRC domestic limited liability company; 
 “Shares” shall mean any
securities of the Company the holders of which are entitled to vote for members of the Board, including without limitation, all shares of Ordinary Shares and Series A Shares, by whatever name called, now owned or subsequently acquired by a
Shareholder, however acquired, whether through share splits, share dividends, reclassifications, recapitalizations, similar events or otherwise; 

“Terms” shall mean, collectively, the terms, conditions and transactions contemplated in this Agreement and the Purchase
Agreement and all exhibits and schedules attached to such agreements, including their existence; 
 “Transfer
Notice” shall have the meaning set forth in Section 5.2; 
 “Violation” shall have the meaning
set forth in Section 3.9; 
 “U.S. GAAP” shall mean the U.S. generally accepted accounting principles; and

 “ZKPH” shall mean Beijing Zhongke Puhui Technology Development Co., Ltd. 

, a PRC domestic limited liability company. 
 1.2 For the purposes of this Agreement,
reference to registration of securities under the Securities Act and the Exchange Act shall be deemed to mean the equivalent registration in a jurisdiction other than the United States, it being understood and agreed that in each such case all
references in this Agreement to the Securities Act, the Exchange Act and rules, forms of registration statements and registration of securities thereunder, U.S. law and the SEC, shall be deemed to refer, to the equivalent statutes, rules, forms of
registration statements, registration of securities and laws of and equivalent government authority in the applicable non-U.S. jurisdiction. 

1.3 Defined Terms. All capitalized terms used in this Agreement but not defined herein shall have the same meaning as set forth in the
Purchase Agreement. 
  

	2.	INFORMATION RIGHTS; BOARD REPRESENTATION. 

2.1 Information and Inspection Rights. 

(a) Information Rights. The Company covenants and agrees that, commencing on the date of this Agreement, for so long as the Series
A Shares held by an Investor represent at least two percent (2%) of the then outstanding equity securities of the Company (on an as-if-converted basis), the Company will deliver to such Investor: 

(i) within ninety (90) days after the end of each fiscal year, audited annual consolidated financial statements prepared in
accordance with U.S. GAAP and audited by a “Big 4” accounting firm selected by the Company and reasonably acceptable to the Investors; 
  

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 (ii) within thirty (30) days after the end of each month, unaudited monthly
consolidated financial statements, which shall indicate variances from the annual budget of the Company with respect to key line items; 

(iii) within thirty (30) days prior to the end of each fiscal year, an annual consolidated budget for the upcoming fiscal year
forecasting the Company’s revenues, expenses and cash position on a monthly basis and, promptly after prepared, any other budgets or revised budgets prepared by the Company; 

(iv) copies of all documents or other information sent to all other shareholders; and 

(v) upon the written request by an Investor, such other information as such Investor shall reasonably request (the above rights,
collectively, the “Information Rights”). 
 All financial statements to be provided to the Investors pursuant
to this Section 1.1(a) shall include an income statement and a balance sheet (and a cash flow statement in the case of Section 1.1 (a)(1)) for the relevant period and shall be prepared in accordance with U.S. GAAP. The Information Rights
granted to the Investors pursuant to this Section shall not be in limitation of, and are supplemental to, any other information rights that the Investors may have under the laws of the Cayman Islands. 

(b) Inspection Rights. The Company further covenants and agrees that, commencing on the date of this Agreement, for so long as the
Series A Shares held by an Investor represent at least two percent (2%) of the then outstanding equity securities of the Company (on an as-if-converted basis), such Investor shall have (i) the right, at such Investor’s expense, to
inspect facilities, records and books of the Company and any of its subsidiaries (including the PRC Companies) at any time during regular working hours on reasonable prior notice to the Company (and any applicable PRC Company, as appropriate) and
only in a manner so as not to interfere with the normal business operations of the Company and its subsidiaries (including the PRC Companies), and (ii) the right, at such Investor’s expense, to discuss the business, operations and
conditions of the Company and any of its subsidiaries (including the PRC Companies) with the Company’s directors, officers, accountants and legal counsel (the “Inspection Rights”). Notwithstanding the foregoing, the Company
shall not be obligated pursuant to this Section 2.1(b) to provide access to any information which it reasonably considers to be trade secret or confidential information. The inspection rights granted to the Investors pursuant to this Section
shall not be in limitation of, and are supplemental to, any other inspection rights that the Investors may have under the laws of the Cayman Islands. 

(c) Termination of Rights. The Information Rights and Inspection Rights shall terminate upon the consummation of a firm
underwritten public offering of the Ordinary Shares in the United States, that has been registered under the Securities Act, or a similar public offering of the Ordinary Shares of the Company in another jurisdiction which results in the Ordinary
Shares trading publicly on a recognized regional or national securities exchange, with gross proceeds to the Company of at least US$50,000,000 (a “Qualified Public Offering”). 

 

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 2.2 Board of Directors. 

(a) Board Composition. Each Shareholder agrees to vote, or cause to be voted, all Shares owned by such Shareholder, or over which
such Shareholder has voting control, from time to time and at all times, in whatever manner as shall be necessary to ensure that at each annual or special meeting of shareholders at which an election of directors is held or pursuant to any written
consent of the shareholders, the following persons shall be elected to the Board: 
 (i) for so long as at least one
(1) Investor holds Series A Shares: 
 (A) if all of the Investors, taken together, hold Series A Shares representing
greater than ten percent (10%) of the then current capitalization of the Company on an as-converted basis, then two (2) individuals designated by the holders of a majority of the aggregate number of Series A Shares held by the Investors;
provided, that the designation of any director pursuant to this clause (i) shall be subject to the reasonable approval of a majority of the then outstanding equity securities of the Company on an as-converted basis. The initial directors
designated pursuant to this clause (i) shall be Nanpeng Shen and Charlie Y. Shi; or 
 (B) if all of the Investors, taken
together, hold Series A Shares representing ten percent (10%) or less of the then current capitalization of the Company on an as-converted basis, then one (1) individual designated by the holders of a majority of the aggregate number of
Series A Shares held by the Investors; provided, that the designation of any director pursuant to this clause (ii) shall be subject to the reasonable approval of a majority of the then outstanding equity securities of the Company on an
as-converted basis; 
 (ii) five (5) individuals designated by a majority of the Ordinary Shares then outstanding
(excluding any Ordinary Shares issued upon conversion of any Series A Shares); 
 (iii) to the extent that clause (i) or
(ii) above shall not be applicable, any member of the Board who would otherwise have been designated in accordance with the terms thereof shall instead be voted upon by all the shareholders of the Company entitled to vote thereon in accordance
with, and pursuant to, the Memorandum and Articles; and 
 The initial directors appointed pursuant to clause (i) above
shall serve for a term until December 31, 2007, thereafter, each director designated in accordance with clause (i), (ii), or (iii) above shall be elected for a term of one (1) year. 

Each Shareholder also agrees to vote, or cause to be voted, all Shares owned by such Shareholder, or over which such Shareholder has
voting control, from time to time and at all times, in whatever manner as shall be necessary to ensure that (i) no director elected pursuant to this Section 2.2(a) may be removed from office, other than for cause, unless (A) such
removal is directed or approved by the affirmative vote of the person or persons entitled to designate that director or (B) the person or persons entitled to designate or approve such director is no longer so entitled to designate or approve
such director; and (ii) any vacancies created by the resignation, removal or death of a director elected pursuant to this Section 2.2(a) shall be filled pursuant to the provisions of this Section 2.2(a). 

All Shareholders agree to execute any written consents required to perform the obligations of this Section 2.2(a), and the Company
agrees at the request of any party entitled to designate directors to call a special meeting of shareholders for the purpose of electing directors. 
  

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 No party, nor any Affiliate of any such party, shall have any liability as a result of
voting for any designee to the Board in accordance with the provisions of this Agreement. 
 (b) Observers. Each of KPCB,
Walden and Legend (each as defined in Exhibit C attached hereto) shall be entitled to appoint in one (1) observer to attend all meetings of the Board or of any committee of the Board in a non-voting observer capacity; provided that each
such observer shall be a partner, employee or Affiliate of KPCB, Walden and Legend, as the case may be, or its management company and shall agree to hold in confidence and trust and not use or disclose any confidential information provided to or
learned by it in connection with any such attendance; provided further that the Company reserves the right to exclude any such observers from access to any material or meeting or portion thereof if the Board determines, in its sole discretion,
(i) that such exclusion or omission is necessary in order to fulfill the Company’s obligations with respect to confidential or proprietary information of third parties, (ii) if such observer is an investor in, employee of, member of
the board of directors of or otherwise affiliated with a Competitor of the Company, or (iii) that such meeting or information involves information or analysis which would pose a material conflict of interest for such observer. Such observers
may participate in discussions of matters brought to the Board. Each of KPCB, Walden and Legend, as the case may be, shall bear the reasonable cost associated with the observers appointed by it attending the meetings of the Board, including all
travel, lodging and meal expenses. The right of each of KPCB, Walden and Legend to appoint an observer under this Section 2.2(b) shall terminate when the Series A Shares held by KPCB, Walden or Legend, as the case may be, and/or their permitted
transferees shall represent less than two percent (2%) of the then current capitalization of the Company on an as-converted basis. Notwithstanding anything to the contrary in this Section 2.2(b), if any member of the Board of Directors is
an officer, director, employee, partner or member of any Investor, then such Investor shall not have the right to designate any Observer pursuant to this Section 2.2(b). 

(c) Board Committees. The Board shall establish an audit committee and a compensation committee. The compensation committee shall
manage the compensation affairs of the Company, including implementing salary and equity guidelines for the Company, approving compensation packages, severance agreements and employment agreements for all senior managers as well as administering the
Company’s employee equity incentive plans. All acts of the audit committee and of the compensation committee shall require the approval of a majority of the members of such committee, including at least one (1) director who is not directly
interested in the acts subject to such approval. Each of the audit committee and the compensation committee shall include at least three (3) members who shall be designated by a majority of the Board from among the members of the Board,
provided that each such committee shall include one (1) director appointed by the Investors, if any. 
 (d) Board
Meeting Frequency. The Board shall meet at least once every three (3) months, unless otherwise agreed by a vote of the majority of then incumbent directors. 

 

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 (e) Board Protection. The Company shall use commercially reasonable efforts to
procure and maintain at its own cost directors and officers (D&O) liability insurance with a carrier and in an amount satisfactory to the Board. In the event the Company merges with another entity and is not the surviving corporation, or
transfers all of its assets, the Company shall use commercially reasonable efforts to procure that proper provisions shall be made so that successors of the Company assume Company’s obligations with respect to indemnification of its directors.

  

	3.	REGISTRATION RIGHTS. 

 3.1
Applicability of Rights. The holders of Registrable Securities (as defined below) shall be entitled to the following rights with respect to any potential public offering of the Company’s Ordinary Shares in the United States and shall be
entitled to reasonably analogous or equivalent rights with respect to any other offering of the Company’s securities in any other jurisdiction in which the Company undertakes to publicly offer or list such securities for trading on a recognized
securities exchange. 
 3.2 Definition. For the purposes of this Section 3, 

(a) Registration. The terms “register,” “registered,” and “registration” refer
to a registration effected by preparing and filing a registration statement which is set in a form which complies with, and is declared effective by the SEC in accordance with, the Securities Act. 

(b) Registrable Securities. The term “Registrable Securities” shall mean: (1) any Ordinary Shares of the
Company issued or to be issued pursuant to conversion of any shares of Series A Shares issued (x) under the Purchase Agreement, and (y) pursuant to the Right of Participation (defined in Section 4 hereof), (2) any Ordinary Shares
of the Company issued (or issuable upon the conversion or exercise of any warrant, right or other security which is issued) as a dividend or other distribution with respect to, or in exchange for or in replacement of, any shares described in clause
(1) of this subsection (b), and (3) any other Ordinary Shares of the Company owned or hereafter acquired by an Investor of Series A Shares prior to the completion of the Qualified Public Offering. Notwithstanding the foregoing,
“Registrable Securities” shall exclude any Registrable Securities sold by a person in a transaction in which rights under this Section 3 are not assigned in accordance with this Agreement, and any Registrable Securities which
are sold in a registered public offering under the Securities Act or analogous statute of another jurisdiction, or sold pursuant to Rule 144 promulgated under the Securities Act or analogue rule of another jurisdiction. 

(c) Registrable Securities then outstanding. The number of shares of “Registrable Securities then outstanding”
shall mean the number of Ordinary Shares of the Company that (i) are Registrable Securities and (ii) are then issued and outstanding, issuable upon conversion of Series A Shares then issued and outstanding or issuable upon conversion or
exercise of any warrant, option, right or other security then outstanding. 
 (d) Holder. The term
“Holder” shall mean any person owning or having the rights to acquire Registrable Securities or any permitted assignee of record of such Registrable Securities to whom rights under this Section 3 have been duly assigned in
accordance with this Agreement. 
  

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 (e) Form F-3. The term “Form F-3” shall mean such respective form
under the Securities Act as is in effect on the date hereof or any successor registration form under the Securities Act subsequently adopted by the SEC which permits inclusion or incorporation of substantial information by reference to other
documents filed by the Company with the SEC. 
 (f) Registration Expenses. The term “Registration
Expenses” shall mean ail expenses incurred by the Company in complying with Sections 3.3, 3.4 and 3.5 hereof, including, without limitation, all registration and filing fees, printing expenses, fees, and disbursements of counsel for the
Company, reasonable fees and expenses of one (1) counsel for the selling Holders, Blue Sky fees and expenses and the expense of any special audits incident to or required by any such registration (but excluding the compensation of regular
employees of the Company which shall be paid in any event by the Company). 
 (g) Selling Expenses. The term
“Selling Expenses” shall mean all underwriting discounts, selling commissions, and share transfer taxes applicable to the sale of Registrable Securities pursuant to Sections 3.3, 3.4 and 3.5 hereof. 

3.3 Demand Registration. 

(a) Request by Holders. If the Company shall, at any time after six (6) months following a Qualified Public Offering, receive
a written request from the Holders of at least 15% of the Registrable Securities then outstanding that the Company file a registration statement under the Securities Act covering the registration of such Holders’ Registrable Securities pursuant
to this Section 3.3 with an anticipated gross proceeds from the offering of such Registrable Securities in excess of US$10,000,000, then the Company shall, within ten (10) business days of the receipt of such written request, give written
notice of such request (“Request Notice”) to all Holders, and use its best efforts to effect, as soon as practicable, the registration under the Securities Act of all Registrable Securities that the Holders request to be registered
and included in such registration by written notice given by such Holders to the Company within twenty (20) days after receipt of the Request Notice, subject only to the limitations of this Section 3.3; provided that the Company shall not
be obligated to effect any such registration if the Company has, within the six (6) month period preceding the date of such request, already effected a registration under the Securities Act pursuant to this Section 3.3 or Section 3.5
hereof or in which the Holders had an opportunity to participate pursuant to the provisions of Section 3.4, other than a registration from which the Registrable Securities of the Holders have been excluded (with respect to all or any portion of
the Registrable Securities the Holders requested be included in such registration) pursuant to the provisions of Section 3.4(a). 

(b) Underwriting. If the Holders initiating the registration request under this Section 3.3 (the “Initiating
Holders”) intend to distribute the Registrable Securities covered by their request by means of an underwriting, then they shall so advise the Company as a part of their request made pursuant to this Section 3.3 and the Company shall
include such information in the Request Notice. In such event, the right of any Holder to include its Registrable Securities in such registration shall be conditioned upon such Holder’s participation in such underwriting and the inclusion of
such Holder’s Registrable Securities in the underwriting (unless otherwise mutually agreed by a majority in interest of the Initiating Holders and such Holder) to the extent provided herein. The Company and Holders proposing to distribute their
securities through such underwriting shall enter into an underwriting agreement in customary form with the managing underwriter or underwriters selected for such underwriting by the Company and reasonably acceptable to the Holders of a majority of
the Registrable Securities being registered. Notwithstanding any other provision of this Section 3.3, if the underwriter(s) advise(s) the Company in writing that marketing factors require a limitation of the number of securities to be
underwritten, then the Company shall so advise all Holders of Registrable Securities which would otherwise be registered and underwritten pursuant hereto, and the number of Registrable Securities that may be included in the underwriting shall be
reduced as required by the underwriter(s) and allocated among the Holders of Registrable Securities on a pro rata basis according to the number of Registrable Securities then outstanding held by each Holder requesting registration (including the
Initiating Holders); provided, however, that the number of shares of Registrable Securities to be included in such underwriting and registration shall not be reduced unless all other securities are first entirely excluded from the underwriting and
registration including, without limitation, all shares that are not Registrable Securities and are held by any other person, including, without limitation, any person who is an employee, officer or director of the Company or any subsidiary of the
Company. If any Holder disapproves of the terms of any such underwriting, such Holder may elect to withdraw therefrom by written notice to the Company and the underwriter(s), delivered at least ten (10) business days prior to the effective date
of the registration statement. Any Registrable Securities excluded or withdrawn from such underwriting shall be excluded and withdrawn from the registration. 
  

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 (c) Maximum Number of Demand Registrations. The Company shall not be obligated to
effect more than two (2) such demand registrations pursuant to this Section 3.3. A registration shall not be counted as “effected” for purposes of this Section 3.3 until such time as the applicable registration statement has
been declared effective by the SEC, unless the Initiating Holders withdraw their request for such registration, elect not to pay the registration expenses therefore, and forfeit their rights with respect to one (1) demand registration pursuant
to Section 3.6, in which case such withdrawn registration statement shall be counted as “effected” for purposes of this Section 3.3. 

(d) Deferral. Notwithstanding the foregoing, if the Company shall furnish to Holders requesting registration pursuant to this
Section 3.3, a certificate signed by the chief executive officer of the Company stating that in the good faith judgment of the Board, it would be materially detrimental to the Company and its shareholders for such registration statement to be
filed at such time, then the Company shall have the right to defer such filing for a period of not more than ninety (90) days after receipt of the request of the Initiating Holders; provided, however, that the Company may not utilize this right
more than once in any twelve (12) month period; provided further, that the Company shall not register any other of its shares during such ninety (90) day period. A demand right shall not be deemed to have been exercised until such deferred
registration shall have been effected. 
 (e) Other Securities Laws in Demand Registration. In the event of any
registration pursuant to this Section 3.3, the Company shall register and qualify the securities covered by the registration statement under the securities laws of any other jurisdictions outside of the United States or in Hong Kong or
elsewhere as shall be appropriate for the distribution of the securities; provided, however, that (a) the Company shall not be required to do business or to file a general consent to service of process in any such state or jurisdiction, and
(b) notwithstanding anything in this Agreement to the contrary, in the event any jurisdiction in which the securities shall be qualified imposes a non-waivable requirement that expenses incurred in connection with the qualification of the
securities be borne by selling shareholders, the expenses shall be payable pro rata by the selling shareholders. 
  

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 3.4 Piggyback Registrations. 

(a) The Company shall notify all Holders of Registrable Securities in writing at least thirty (30) days prior to filing any
registration statement under the Securities Act for purposes of effecting a public offering of securities of the Company (including, but not limited to, registration statements relating to secondary offerings of securities of the Company, but
excluding registration statements relating to any registration under Section 3.3 or Section 3.5 of this Agreement or to any employee benefit plan or a corporate reorganization or other Rule 145 transaction, an offer and sale of debt
securities, or a registration on any registration form that does not permit secondary sales), and shall, subject to Section 3.4(c), use best efforts to afford each such Holder an opportunity to include in such registration statement all or any
part of the Registrable Securities then held by such Holder. Each Holder desiring to include in any such registration statement all or any part of the Registrable Securities held by it shall within twenty (20) days after receipt of the
above-described notice from the Company, so notify the Company in writing, and in such notice shall inform the Company of the number of Registrable Securities such Holder wishes to include in such registration statement. If a Holder decides not to
include all of its Registrable Securities in any registration statement thereafter filed by the Company, such Holder shall nevertheless continue to have the right to include any Registrable Securities in any subsequent registration statement or
registration statements as may be filed by the Company with respect to offerings of its securities, all upon the terms and conditions set forth herein. 

(b) The Company shall have the right to terminate or withdraw any registration initiated by it under this Section 3.4 prior to the
effectiveness of such registration whether or not any Holder has elected to include securities in such registration. The expenses of such registration shall be borne by the Company, in accordance with Section 3.6 hereof. 

(c) Underwriting. If a registration statement under which the Company gives notice under this Section 3.4 is for an
underwritten offering, then the Company shall so advise the Holders of Registrable Securities. In such event, the right of any such Holder’s Registrable Securities to be included in a registration pursuant to this Section 3.4 shall be
conditioned upon such Holder’s participation in such underwriting on the terms agreed upon between the Company and the underwriters selected by the Company, and upon the inclusion of such Holder’s Registrable Securities in the underwriting
to the extent provided herein. All Holders proposing to distribute their Registrable Securities through such underwriting shall enter into an underwriting agreement in customary form with the managing underwriter or underwriters selected for such
underwriting. Notwithstanding any other provision of this Agreement but subject to Section 3.12, if the managing underwriter(s) determine(s) in good faith that marketing factors require a limitation of the number of shares to be underwritten,
then the managing underwriter(s) may exclude shares from the registration and the underwriting, and the number of shares that may be included in the registration and the underwriting shall be allocated, first, to the Company and
second, to each of the Holders requesting inclusion of their Registrable Securities in such registration statement, the Founders and holders of other securities of the Company on a pro rata basis based on the total number of shares then held
by each such person. If any Holder disapproves of the terms of any such underwriting, such Holder may elect to withdraw therefrom by written notice to the Company and the underwriter(s), delivered at least ten (10) business days prior to the
effective date of the registration statement. Any Registrable Securities excluded or withdrawn from such underwriting shall be excluded and withdrawn from the registration. For purposes of pro rata apportionment among Holders, for any selling
shareholder which is a Holder and which is a venture capital fund, or a partnership or corporation, the partners, retired partners and shareholders of such holder, or the estates and family members of any such partners and retired partners and any
trusts for the benefit of any of the foregoing persons shall be deemed to be a single “selling shareholder,” and any pro rata reduction with respect to such “selling shareholder” shall be based upon the aggregate amount of shares
carrying registration rights owned by all entities and individuals included in such “selling shareholder,” as defined in this sentence. 
  

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 (d) Not Demand Registration. Registration pursuant to this Section 3.4 shall not
be deemed to be a demand registration as described in Section 3.3 above. There shall be no limit on the number of times the Holders may request registration of Registrable Securities under this Section 3.4. 

3.5 Form F-3 Registration. In case the Company shall receive from any Holder or Holders a written request or requests that the
Company effect a registration on Form F-3 (or an equivalent registration in a jurisdiction outside of the United States) and any related qualification or compliance with respect to all or a part of the Registrable Securities owned by such Holder or
Holders, then the Company will: 
 (a) Notice. Promptly give written notice of the proposed registration and the
Holder’s or Holders’ request therefor, and any related qualification or compliance, to all other Holders of Registrable Securities; and 

(b) Registration. As soon as practicable, use best efforts to effect such registration and all such qualifications and compliances
as may be so requested and as would permit or facilitate the sale and distribution of all or such portion of such Holders or Holders’ Registrable Securities as are specified in such request, together with all or such portion of the Registrable
Securities of any other Holder or Holders joining in such request as are specified in a written request given within twenty (20) days after the Company provides the notice contemplated by Section 3.5(a); provided, however, that the Company
shall not be obligated to effect any such registration, qualification or compliance pursuant to this Section 3.5: 
 (1)
if Form F-3 is not available for such offering by the Holders; 
 (2) if the Holders, together with the holders of any other
securities of the Company entitled to inclusion in such registration, propose to sell Registrable Securities and such other securities (if any) at an aggregate price to the public of less than US$1,000,000; 

(3) if the Company shall furnish to the Holders a certificate signed by the chief executive officer of the Company stating that in the
good faith judgment of the Board, it would be materially detrimental to the Company and its shareholders for such Form F-3 Registration to be effected at such time, in which event the Company shall have the right to defer the filing of the Form F-3
registration statement no more than once during any twelve (12) month period for a period of not more than one hundred twenty (120) days after receipt of the request of the Holder or Holders under this Section 3.5; provided that the
Company shall not register any of its other shares during such one hundred twenty (120) day period. 
  

 12 

 (4) if the Company has, within the six (6) month period preceding the date of such
request, already effected a registration under the Securities Act other than a registration from which the Registrable Securities of Holders have been excluded (with respect to all or any portion of the Registrable Securities the Holders requested
be included in such registration) pursuant to the provisions of Sections 3.3(b) and 3.4(c); 
 (5) if the Company has been
requested to effect a registration on Form F-3 pursuant to this Section 3.5 more than twice in any twelve (12) month period; or 

(6) in any particular jurisdiction in which the Company would be required to qualify to do business or to execute a general consent to
service of process in effecting such registration, qualification or compliance. 
 (c) Not Demand Registration. Form F-3
registrations shall not be deemed to be demand registrations as described in Section 3.3 above. Except as otherwise provided herein, there shall be no limit on the number of times the Holders may request registration of Registrable Securities
under this Section 3.5; provided that the Company shall not be required to file more than two (2) Form F-3 registration statements in any twelve (12) month period. 

(d) Underwriting. If the Holders of Registrable Securities requesting registration under this Section 3.5 intend to
distribute the Registrable Securities covered by their request by means of an underwriting, the provisions of Section 3.3(b) shall apply to such registration. 

3.6 Expenses. All Registration Expenses incurred in connection with any registration pursuant to Sections 3.3, 3.4 or 3.5 (but
excluding Selling Expenses) shall be borne by the Company. Each Holder participating in a registration pursuant to Sections 3.3, 3.4 or 3.5 shall bear such Holder’s proportionate share (based on the total number of shares sold in such
registration other than for the account of the Company) of all Selling Expenses or other amounts payable to underwriter(s) or brokers, in connection with such offering by the Holders. Notwithstanding the foregoing, the Company shall not be required
to pay for any expenses of any registration proceeding begun pursuant to Section 3.3 or 3.5 if the registration request is subsequently withdrawn at the request of the Holders of a majority of the Registrable Securities to be registered (in
which case all participating Holders shall bear such expenses), unless the Holders of a majority of the Registrable Securities then outstanding agree that such registration constitutes the use by the Holders of one (1) demand registration
pursuant to Section 3.3 or one (1) Form F-3 registration pursuant to Section 3.5, as the case may be (in which case such registration shall also constitute the use by all Holders of Registrable Securities of one (1) such demand
registration or one (1) such F-3 registration, as the case may be); provided further, however, that if at the time of such withdrawal, the Holders have learned of a material adverse change in the condition, business, or prospects of the Company
not known to the Holders at the time of their request for such registration and have withdrawn their request for registration with reasonable promptness after learning of such material adverse change, then the Holders shall not be required to pay
any of such expenses and such registration shall not constitute the use of a demand registration pursuant to Section 3.3 or an F-3 registration pursuant to Section 3.5, as the case may be. 

 

 13 

 3.7 Obligations of the Company. Whenever required to effect the registration of any
Registrable Securities under this Agreement the Company shall, as expeditiously as reasonably possible: 
 (a) Registration
Statement. Prepare and file with the SEC a registration statement with respect to such Registrable Securities and use its best efforts to cause such registration statement to become effective, and, upon the request of the Holders of a majority
of the Registrable Securities registered thereunder, keep such registration statement effective for a period of up to ninety (90) days or, in the case of Registrable Securities registered under Form F-3 in accordance with Rule 415 under the
Securities Act or a successor rule, until the distribution contemplated in the registration statement has been completed, if earlier; provided, however, that (i) such ninety (90) day period shall be extended for a period of time equal to
the period any Holder refrains from selling any securities included in such registration at the request of the underwriter(s), and (ii) in the case of any registration of Registrable Securities on Form F-3 which are intended to be offered on a
continuous or delayed basis, subject to compliance with applicable SEC rules, such ninety (90) day period shall be extended for up to an additional thirty (30) days, if necessary, to keep the registration statement effective until all such
Registrable Securities are sold. 
 (b) Amendments and Supplements. Prepare and file with the SEC such amendments and
supplements to such registration statement and the prospectus used in connection with such registration statement as may be necessary to comply with the provisions of the Securities Act with respect to the disposition of all securities covered by
such registration statement for up to one hundred twenty (120) days, or until the distribution described in such registration statement is completed, if earlier. 

(c) Prospectuses. Furnish to the Holders such number of copies of a prospectus, including a preliminary prospectus, in conformity
with the requirements of the Securities Act, and such other documents as they may reasonably request in order to facilitate the disposition of the Registrable Securities owned by them that are included in such registration. 

(d) Blue Sky. Use its best efforts to register and qualify the securities covered by such registration statement under such other
securities or Blue Sky laws of such jurisdictions as shall be reasonably requested by the Holders; provided that the Company shall not be required in connection therewith or as a condition thereto to qualify to do business or to file a general
consent to service of process in any such states or jurisdictions, unless the Company is already subject to service in such jurisdiction and except as may be required by the Securities Act. 

(e) Underwriting. In the event of any underwritten public offering, enter into and perform its obligations under an underwriting
agreement in usual and customary form, with the managing underwriter(s) of such offering. Each Holder and other security holder participating in such underwriting shall also enter into and perform its obligations under such an agreement. 

 

 14 

 (f) Notification. Notify each Holder of Registrable Securities covered by such
registration statement at any time when a prospectus relating thereto is required to be delivered under the Securities Act of (i) the issuance of any stop order by the SEC in respect of such registration statement, or (ii) the happening of
any event as a result of which the prospectus included in such registration statement, as then in effect, includes an untrue statement of a material fact or omits to state a material fact required to be stated therein or necessary to make the
statements therein not misleading in the light of the circumstances then existing, such obligation to continue for one hundred twenty (120) days or until the distribution described in such registration statement is completed, if earlier.

 (g) Opinion and Comfort Letter. Use its best efforts to cause to be furnished, at the request of any Holder requesting
registration of Registrable Securities, on the date that such Registrable Securities are delivered to the underwriter(s) for sale, if such securities are being sold through underwriters, or, if such securities are not being sold through
underwriters, on the date that the registration statement with respect to such securities becomes effective, (i) an opinion, dated as of such date, of the counsel representing the Company for the purposes of such registration, in form and
substance as is customarily given to underwriters in an underwritten public offering and reasonably satisfactory to a majority in interest of the Holders requesting registration, addressed to the underwriters, if any and (ii) letters dated as
of such date, from the independent certified public accountants of the Company, in form and substance as is customarily given by independent certified public accountants to underwriters in an underwritten public offering and reasonably satisfactory
to a majority in interest of the Holders requesting registration, addressed to the underwriters, if any. 
 3.8 Furnish
Information. It shall be a condition precedent to the obligations of the Company to take any action pursuant to Sections 3.3, 3.4 or 3.5 that the selling Holders shall furnish to the Company such information regarding themselves, the Registrable
Securities held by them and the intended method of disposition of such securities as the Company may reasonably request, including without limitation such information as shall be required to timely effect the Registration of their Registrable
Securities. The Company shall have no obligation with respect to any registration requested pursuant to Section 3.3 or Section 3.5 of this Agreement if, as a result of the application of the preceding sentence, the anticipated aggregate
offering price of the Registrable Securities to be included in the registration does not equal or exceed the anticipated aggregate offering price required to originally trigger the Company’s obligation to initiate such registration as specified
in Section 3.3(a) or Section 3.5(b)(2), whichever is applicable. 
 3.9 Indemnification. In the event any
Registrable Securities are included in a registration statement under Sections 3.3, 3.4 or 3.5: 
 (a) By the Company. To
the extent permitted by law, the Company will indemnify and hold harmless each Holder, its partners, officers, directors, legal counsel, any underwriter (as defined in the Securities Act) for such Holder and each person, if any, who controls such
Holder or underwriter within the meaning of the Securities Act or the Exchange Act, against any losses, claims, damages, or liabilities (joint or several) to which they may become subject under the Securities Act, the Exchange Act, or other United
States federal or state law, insofar as such losses, claims, damages, or liabilities (or actions in respect thereof) arise out of or are based upon any of the following statements, omissions or violations (collectively a
“Violation”): 
 (i) any untrue statement or alleged untrue statement of a material fact contained in such
registration statement, including any preliminary prospectus or final prospectus contained therein or any amendments or supplements thereto; 
  

 15 

 (ii) the omission or alleged omission to state therein a material fact required to be
stated therein, or necessary to make the statements therein not misleading; or 
 (iii) any violation or alleged violation by
the Company of the Securities Act, the Exchange Act, any United States state securities law, or any rule or regulation promulgated under the Securities Act, the Exchange Act, or any United States state securities law in connection with the offering
covered by such registration statement; 
 and the Company will reimburse each such Holder, its partner, officer, director, legal counsel,
underwriter or controlling person for any legal or other expenses reasonably incurred by them, as incurred, in connection with investigating or defending any such loss, claim, damage, liability or action; provided, however, that the indemnity
agreement contained in this subsection 3.9(a) shall not apply to amounts paid in settlement of any such loss, claim, damage, liability or action if such settlement is effected without the consent of the Company (which consent shall not be
unreasonably withheld), nor shall the Company be liable in any such case for any such loss, claim, damage, liability or action to the extent that it arises out of or is based upon a Violation which occurs in reliance upon and in conformity with
written information furnished expressly for use in connection with such registration by such Holder, or any partner, officer, director, legal counsel, underwriter or controlling person of such Holder. 

(b) By Selling Holders. To the extent permitted by law, each selling Holder will, if Registrable Securities held by Holder are
included in the securities as to which such registration qualifications or compliance is being effected, indemnify and hold harmless the Company, each of its directors, each of its officers who has signed the registration statement, each person, if
any, who controls the Company within the meaning of the Securities Act, any underwriter, any legal counsel of the Company and any other Holder selling securities under such registration statement or any of such other Holder’s partners,
directors, officers, legal counsel or any person who controls such Holder within the meaning of the Securities Act or the Exchange Act, against any losses, claims, damages or liabilities (joint or several) to which the Company or any such director,
officer, legal counsel, controlling person, underwriter or other such Holder, partner or director, officer or controlling person of such other Holder may become subject under the Securities Act, the Exchange Act or other United States federal or
state law, insofar as such losses, claims, damages or liabilities (or actions in respect thereto) arise out of or are based upon any Violation, in each case to the extent (and only to the extent) that such Violation occurs in reliance upon and in
conformity with written information furnished by such Holder expressly for use in connection with such registration; and each such Holder will reimburse any legal or other expenses reasonably incurred by the Company or any such director, officer,
controlling person, underwriter or other Holder, partner, officer, director or controlling person of such other Holder in connection with investigating or defending any such loss, claim, damage, liability or action; provided, however, that the
indemnity agreement contained in this Section 3.9(b) shall not apply to amounts paid in settlement of any such loss, claim, damage, liability or action if such settlement is effected without the consent of the Holder, which consent shall not be
unreasonably withheld; and provided, further, that in no event shall any indemnity under this Section 3.9(b) exceed the net proceeds received by such Holder in the registered offering out of which the applicable Violation arises, except in the
case of willful fraud by such Holder. 
  

 16 

 (c) Notice. Promptly after receipt by an indemnified party under this
Section 3.9 of notice of the commencement of any action (including any governmental action), such indemnified party will, if a claim in respect thereof is to be made against any indemnifying party under this Section 3.9, deliver to the
indemnifying party a written notice of the commencement thereof and the indemnifying party shall have the right to participate in, and, to the extent the indemnifying party so desires, jointly with any other indemnifying party similarly noticed, to
assume the defense thereof with counsel mutually satisfactory to the parties; provided, however, that an indemnified party (together with all other indemnified parties which may be represented without conflict by one counsel) shall have the right to
retain one separate counsel, with the reasonable fees and expenses to be paid by the indemnifying party, if representation of such indemnified party by the counsel retained by the indemnifying party would be inappropriate due to actual or potential
conflict of interests between such indemnified party and any other party represented by such counsel in such proceeding. The failure to deliver written notice to the indemnifying party within a reasonable time of the commencement of any such action
shall relieve such indemnifying party of liability to the indemnified party under this Section 3.9 to the extent the indemnifying party is prejudiced as a result thereof, but the omission to so deliver written notice to the indemnifying party
will not relieve it of any liability that it may have to any indemnified party otherwise than under this Section 3.9. 

(d) Contribution. In order to provide for just and equitable contribution to joint liability under the Securities Act in any case
in which either (i) any indemnified party makes a claim for indemnification pursuant to this Section 3.9 but it is judicially determined (by the entry of a final judgment or decree by a court of competent jurisdiction and the expiration of
time to appeal or the denial of the last right of appeal) that such indemnification may not be enforced in such case notwithstanding the fact that this Section 3.9 provides for indemnification in such case, or (ii) contribution under the
Securities Act may be required on the part of any indemnified party in circumstances for which indemnification is provided under this Section 3.9; then, and in each such case, the indemnified party and the indemnifying party will contribute to
the aggregate losses, claims, damages or liabilities to which they may be subject (after contribution from others) in such proportion so that a Holder (together with its related persons) is responsible for the portion represented by the percentage
that the public offering price of its Registrable Securities offered by and sold under the registration statement bears to the public offering price of all securities offered by and sold under such registration statement, and the Company and other
selling Holders are responsible for the remaining portion. The relative fault of the indemnifying party and of the indemnified party shall be determined by a court of law by reference to, among other things, whether the untrue or alleged untrue
statement of a material fact or the omission to state a material fact relates to information supplied by the indemnifying party or by the indemnified party and the parties’ relative intent, knowledge, access to information and opportunity to
correct or prevent such statement or omission; provided, however, that, in any such case: (A) no Holder will be required to contribute any amount in excess of the net proceeds to such Holder from the sale of all such Registrable Securities
offered and sold by such Holder pursuant to such registration statement, except in the case of willful fraud by such Holder; and (B) no person or entity guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the
Securities Act) will be entitled to contribution from any person or entity who was not guilty of such fraudulent misrepresentation. Notwithstanding the foregoing, to the extent that the provisions on indemnification and contribution contained in the
underwriting agreement entered into in connection with the underwritten public offering are in conflict with the provisions in this Section 3.9, the provisions in the underwriting agreement shall control. 

 

 17 

 (e) Survival; Consents to Judgments and Settlements. The obligations of the Company
and Holders under this Section 3.9 shall survive the completion of any offering of Registrable Securities in a registration statement, regardless of the expiration of any statutes of limitation or extensions of such statutes. No indemnifying
party, in the defense of any such claim or litigation, shall, except with the consent of each indemnified party, consent to entry of any judgment or enter into any settlement which does not include as an unconditional term thereof the giving by the
claimant or plaintiff to such indemnified party of a release from all liability in respect to such claim or litigation. 

3.10 Termination of the Company’s Obligations. The right of any Holder to request registration or
inclusion of Registrable Securities in any registration pursuant to Sections 3.3, 3.4 or 3.5 shall terminate on the earlier of (i) the fifth
(5th) anniversary of the initial public offering of
the securities of the Company, or (ii) when all of such Holder’s Registrable Securities could be sold without restriction under SEC Rule 144(k), upon completion of a public offering with respect to any Holder, or at any time after the
public offering of the Company at which time Rule 144 or another similar exemption under the Securities Act is available for the sale of all of such Holder’s shares during a three (3) month period without registration. 

3.11 No Registration Rights to Third Parties. Without the prior written consent of the Holders of at least a majority in interest
of the Registrable Securities then outstanding, the Company covenants and agrees that it shall not grant, or cause or permit to be created, for the benefit of any person or entity any registration rights of any kind (whether similar to the demand,
“piggyback” or Form F-3 registration rights described in this Section 3 or otherwise) relating to any securities of the Company which are senior to, or on a parity with, those granted to the Holders of Registrable Securities.

 3.12 Market Stand-Off. 

(a) Each Holder agrees that, so long as it holds any voting securities of the Company, upon request by the underwriters managing the
initial public offering of the Company’s securities, it will not sell, make any short sale of, loan, grant any option for the purchase of, or otherwise transfer or dispose of any securities of the Company (other than those permitted to be
included in the registration and assignments permitted by this Agreement, or those acquired in or following such initial public offering) without the prior written consent of such underwriters, as the case may be, for a period of time specified by
the representative of the underwriters (not to exceed one hundred and eighty (180) days but subject to such extension or extensions as may be required by the underwriters in order to publish research reports while complying with the rules
promulgated by the National Association of Securities Dealers, Inc.) from the effective date of the registration statement covering such initial public offering or the pricing date of such offering as may be requested by the underwriters, and to
execute an agreement reflecting the foregoing as may be requested by the underwriters at the time of the Company’s initial public offering. 
  

 18 

 (b) The foregoing provisions of this Section 3.12 shall not apply to the sale of any
securities of the Company to an underwriter pursuant to any underwriting agreement, and shall only be applicable to the Holders if all officers, directors and holders of five percent (5%) or more of the Company’s outstanding share capital
enter into similar agreements, and if the Company or any underwriter releases any officer, director or holder of five percent (5%) or more of the Company’s outstanding share capital from his or her sale restrictions so undertaken, then
each Holder shall be notified prior to such release and shall itself be simultaneously released to the same proportional extent. Any discretionary wavier or termination of the restrictions of any or all of such agreements by the Company or the
underwriters shall apply pro rata to all Holders subject to such agreements, based on the number of shares subject to such agreements. 

(c) In order to enforce the foregoing covenants, the Company may impose stop-transfer instructions with respect to the securities of each
Holder (and the securities of every other person subject to the restrictions in Section 3.12(a)). 
 3.13 Rule 144
Reporting. With a view to making available to the Holders the benefits of certain rules and regulations of the SEC which may at any time permit the sale of the Registrable Securities to the public without registration or pursuant to a
registration on Form F-3, after such time as a public market exists for the Ordinary Shares, the Company agrees to: 
 (a) Make
and keep public information available, as those terms are understood and defined in Rule 144 under the Securities Act, at all times after ninety (90) days after the effective date of the first registration under the Securities Act filed by the
Company for an offering of its securities to the general public so long as the Company remains subject to the periodic reporting requirements under Sections 13 or 15(d) of the Exchange Act; 

(b) File with the SEC in a timely manner all reports and other documents required of the Company under the Securities Act and the
Exchange Act (at any time after it has become subject to such reporting requirements); and 
 (c) So long as a Holder owns any
Registrable Securities, to furnish to such Holder forthwith upon request (i) a written statement by the Company as to its compliance with the reporting requirements of Rule 144 (at any time after ninety (90) days after the effective date
of the Company’s initial public offering), the Securities Act and the Exchange Act (at any time after it has become subject to such reporting requirements), or its qualification as a registrant whose securities may be resold pursuant to Form
F-3 (at any time after it so qualifies), (ii) a copy of the most recent annual or quarterly report of the Company, and (iii) such other reports and documents of the Company as a Holder may reasonably request in availing itself of any rule
or regulation of the SEC that permits the selling of any such securities without registration or pursuant to Form F-3. 
 3.14
Delay of Registration. No Holder shall have any right to obtain or seek an injunction restraining or otherwise delaying any such registration as the result of any controversy that might arise with respect to the interpretation or
implementation of this Section 3. 
  

 19 

	4.	RIGHT OF PARTICIPATION. 

4.1 General. The Investors and their permitted transferees to which rights under this Section 4 have been duly assigned in
accordance with Section 6 (each a “Participation Rights Holder”) shall have the right of first refusal to purchase such Participation Rights Holder’s Pro Rata Share (as defined below), of all (or any part) of any New
Securities that the Company may from time to time issue after the date of this Agreement (the “Right of Participation”). 

4.2 Pro Rata Share. A Participation Rights Holder’s “Pro Rata Share” for purposes of the Right of
Participation is the ratio of (a) the number of Ordinary Shares (calculated on a fully-diluted and as-converted basis) held by such Participation Rights Holder, to (b) the total number of Ordinary Shares (calculated on a fully-diluted and
as-converted basis) then outstanding immediately prior to the issuance of New Securities giving rise to the Right of Participation. 

4.3 New Securities. “New Securities” shall mean any Series A Shares, any other shares of the Company designated
as “Preference Shares,” Ordinary Shares or other voting shares of the Company, whether now authorized or not, and rights, options or warrants to purchase such Series A Shares, Preference Shares, Ordinary Shares and voting shares of any
type whatsoever that are, or may become, convertible or exchangeable into such Series A Shares, Preference Shares, Ordinary Shares or other voting shares, provided, however, that the term “New Securities” shall not include: 

(a) Ordinary Shares issued upon any conversion of any Series A Shares; 

(b) up to 14,400,000 Ordinary Shares (including any of such shares which are repurchased), or such greater number of Ordinary Shares as
may be approved by the Board, issued to officers, directors, employees and consultants of the Company pursuant to share option, purchase or other incentive plans approved by the Board, and any other Ordinary Shares from officers, directors,
employees, and consultants repurchased at cost subsequent to the Original Issue Date; 
 (c) Ordinary Shares issued as a
dividend or distribution or in connection with any share split, reorganization of similar transaction; 
 (d) any securities
issued pursuant to the acquisition of another corporation or entity by the Company by consolidation, merger, purchase of assets, or other reorganization in which the Company acquires, directly or indirectly, in a single transaction or series of
related transactions, all or substantially all of the assets of such other corporation or entity, or fifty percent (50%) or more of the equity ownership or voting power of such other corporation or entity, provided that such issuances shall be
approved by the Board; 
 (e) any securities issued to any entity with which the Company has business relationships that have
been approved by the Board for the purposes of (i) joint venture, technology licensing or development activities, (ii) distribution, supply or manufacture of the Company’s products or services, or (iii) other arrangements
involving corporate partners that are primarily for purposes other than equity financing; 
 (f) pursuant to a Qualified Public
Offering or in any other public offering prior to or in connection with which all outstanding Series A Shares will be converted to Ordinary Shares; and 
  

 20 

 (g) any securities issued pursuant to any equipment lease financings or bank credit
arrangements, the terms of which shall have been approved by the Board. 
 4.4 Procedures. 

(a) First Participation Notice. In the event that the Company proposes to undertake an issuance of New Securities (in a single
transaction or a series of related transactions), it shall give to each Participation Rights Holder written notice of its intention to issue New Securities (the “First Participation Notice”), describing the amount and type of New
Securities, the price and the general terms upon which the Company proposes to issue such New Securities. Each Participation Rights Holder shall have fifteen (15) days from the date of receipt of any such First Participation Notice to agree in
writing to purchase such Participation Rights Holder’s Pro Rata Share of such New Securities for the price and upon the terms and conditions specified in the First Participation Notice by giving written notice to the Company and stating therein
the quantity of New Securities to be purchased (not to exceed such Participation Rights Holder’s Pro Rata Share). If any Participation Rights Holder fails to so agree in writing within such fifteen (15) day period to purchase such
Participation Rights Holder’s full Pro Rata Share of an offering of New Securities, then such Participation Rights Holder shall forfeit the right hereunder to purchase that part of its Pro Rata Share of such New Securities that it did not agree
to purchase. 
 (b) Second Participation Notice; Oversubscription. If any Participating Rights Holder fails or declines
to exercise its Right of Participation in accordance with subsection (a) above, the Company shall promptly give notice (the “Second Participation Notice”) to other Participating Rights Holders who exercised their Right of
Participation with respect to other Poll Pro Rata Shares of the New Securities (the “Right Participants”) in accordance with subsection (a) above. Each Right Participant shall have five (5) business days from the date of
the Second Participation Notice (the “Second Participation Period”) to notify the Company of its desire to purchase more than its Pro Rata Share of the New Securities, stating the number of the additional New Securities it proposes
to buy (the “Additional Number”). Such notice may be made by telephone if confirmed in writing within in two (2) business days. If, as a result thereof, such oversubscription exceeds the total number of the remaining New
Securities available for purchase, each oversubscribing Right Participant will be cut back by the Company with respect to its oversubscription to that number of remaining New Securities equal to the lesser of (x) the Additional Number and
(y) the product obtained by multiplying (i) the number of the remaining New Securities available for subscription by (ii) a fraction, the numerator of which is the number of Ordinary Shares (calculated on a fully-diluted and
as-converted basis) held by such oversubscribing Right Participant and the denominator of which is the total number of Ordinary Shares (calculated on a fully-diluted and as-converted basis) held by all the oversubscribing Right Participants. Each
Right Participant shall be obligated to buy such number of New Securities as determined by the Company pursuant to this Section 4.4 and the Company shall so notify the Right Participants within fifteen (15) business days following the date
of the Second Participation Notice. 
 4.5 Failure to Exercise. Upon the expiration of the Second Participation Period,
or in the event no Participation Rights Holder exercises the Right of Participation within fifteen (15) days following the issuance of the First Participation Notice, the Company shall have one hundred and twenty (120) days thereafter to
sell the New Securities described in the First Participation Notice (with respect to which the Right of Participation hereunder were not exercised) at the same or higher price and upon non-price terms not materially more favorable to the purchasers
thereof than specified in the First Participation Notice. In the event that the Company has not issued and sold such New Securities within such one hundred and twenty (120) day period, then the Company shall not thereafter issue or sell any New
Securities without again first offering such New Securities to the Participation Rights Holders pursuant to this Section 4. 
  

 21 

 4.6 Termination. The Right of Participation for each Participation Rights Holder
shall terminate immediately prior to the initial public offering of the securities of the Company. 
  

	5.	TRANSFER RESTRICTIONS. 

5.1 Certain Definitions. For purposes of this Section 5, “Series A Holder” means each of the Investors and
“Restricted Holder” means any Founder Entity or Investor and any of their permitted assignees to whom their rights under this Section 5 have been duly assigned in accordance with this Agreement, or any employee of the Company
holding greater than one percent (1%) of the Ordinary Shares on a fully diluted and an as-if-converted basis; and “Restricted Shares” means any of the Company’s securities now owned or subsequently acquired by a Restricted
Holder, including without limitation Ordinary Shares and Series A Shares. 
 5.2 Sale of Restricted Shares; Notice of
Sale. 
 (a) Subject to Section 5.6 of this Agreement, if any Restricted Holder (the “Selling
Shareholder”) proposes to sell or transfer any Restricted Shares held by it, then the Selling Shareholder shall promptly give written notice (the “Transfer Notice”) to the Company, and upon the expiration of the Company
First Refusal Period (as defined below), to each Restricted Holder prior to such sale or transfer. The Notice shall describe in reasonable detail the proposed sale or transfer including, without limitation, the number of Restricted Shares to be sold
or transferred (the “Offered Shares”), the nature of such sale or transfer and the consideration to be paid, and the name and address of each prospective purchaser or transferee. 

(b) Notwithstanding any other provisions of this Agreement, without the prior written approval of the Company, no Restricted Holder may
sell or transfer any equity securities of the Company to any Competitor. 
 5.3 Right of First Refusal. 

(a) The Company’s Option. The Company shall have the right, exercisable upon written notice to the Selling Shareholder and
each Restricted Holder, within twenty (20) days after receipt of the Transfer Notice (the “Company First Refusal Period”), to elect to purchase all or any part of the Offered Shares at the same price and subject to the same
material terms and conditions as described in the Transfer Notice. 
 (b) Series A Holders’ Option. If and to the
extent the Company does not elect to purchase any Offered Shares pursuant to Section 5.3(a), each Series A Holder shall have the right, exercisable upon written notice to the Selling Shareholder, the Company and each other Restricted Holder,
within ten (10) days following the expiration of the Company First Refusal Period (the “Series A Holder First Refusal Period”), to elect to purchase: all or any part of its pro rata share of the remaining Offered Shares
equivalent to the product obtained by multiplying the aggregate number of the remaining Offered Shares by a fraction, the numerator of which is the number of Ordinary Shares (calculated on an as-if-converted basis) held by such Series A Holder on
the date of the Transfer Notice and the denominator of which is the total number of Ordinary Shares (calculated on an as-if-converted basis) owned by all the Series A Holders on the date of the Transfer Notice, at the same price and subject to the
same material terms and conditions as described in the Transfer Notice. 
  

 22 

 To the extent that any Series A Holder referred to in the preceding paragraph does not
exercise its right of first refusal to the full extent of its pro rata share of the Offered Shares pursuant to the preceding paragraph, the Selling Shareholder and the participating Series A Holders shall, within ten (10) days after the end of
the Series A Holder First Refusal Period, make such adjustments to each exercising Series A Holder’s pro rata share of the Offered Shares so that any remaining Offered Shares may be allocated to those Series A Holders exercising their rights of
first refusal on a pro rata basis. 
 (c) Restricted Holders’ Option. If and to the extent the Company and the
Series A. Holders do not elect to purchase all Offered Shares pursuant to Section 5.3(a) and Section 5.3(b), each other Restricted Holder shall have the right, exercisable upon written notice to the Selling Shareholder, the Company and
each other Restricted Holder, within ten (10) days following the expiration of the Series A Holder Refusal Period (the “Restricted Holder First Refusal Period”), to elect to purchase all or any part of its pro rata share of the
remaining Offered Shares equivalent to the product obtained by multiplying the aggregate number of the remaining Offered Shares by a fraction, the numerator of which is the number of Ordinary Shares (calculated on an as-if-converted basis) held by
such Restricted Holder on the date of the Transfer Notice and the denominator of which is the total number of Ordinary Shares (calculated on an as-if-converted basis) owned by all the Restricted Holders, excluding the Series A Holders, on the date
of the Transfer Notice, at the same price and subject to the same material terms and conditions as described in the Transfer Notice. 

To the extent that any Restricted Holder referred to in the preceding paragraph does not exercise its right of first refusal to the full
extent of its pro rata share of the Offered Shares pursuant to the preceding paragraph, the Selling Shareholder and the participating Restricted Holders shall, within ten (10) days after the end of the Restricted Holder First Refusal Period,
make such adjustments to each exercising Restricted Holder’s pro rata share of the Offered Shares so that any remaining Offered Shares may be allocated to those Restricted Holders exercising their rights of first refusal on a pro rata basis.

 (d) Neither the Company nor any Restricted Holder shall have a right to purchase any of the Offered Shares unless it
exercises its right of first refusal to purchase up to all, or all of its pro rata share, of the Offered Shares pursuant to the foregoing Section 5.3(a) to 5.3(d). 

(e) Expiration Notice. Expiration Notice. Within ten (10) days after expiration of the Restricted Holder First Refusal
Period the Company will give written notice (the “First Refusal Expiration Notice”) to the Selling Shareholder and each Restricted Holder specifying either (i) that all of the Offered Shares were subscribed by the Restricted
Holders exercising their rights of first refusal or (ii) that the Restricted Holders have not subscribed all of the Offered Shares in which case the First Refusal Expiration Notice will specify the Co-Sale Pro-Rata Portion (as defined below) of
the remaining Offered Shares for the purpose of the co-sale rights described in Section 5.4 below. 
  

 23 

 (f) Purchase Price. The purchase price for the Offered Shares to be purchased by the
Company or the Restricted Holders exercising their right of first refusal will be the price set forth in the Transfer Notice, but will be payable as set forth in this Section 5.3(g). If the purchase price in the Transfer Notice includes
consideration other than cash, the cash equivalent value of the non-cash consideration will be determined by the Board in good faith, which determination will be binding upon the Company, the Restricted Holders, and the Selling Shareholder, absent
fraud or error. 
 (g) Payment. Payment of the purchase price for the Offered Shares purchased by the Company or the
Restricted Holders shall be made within ten (10) days following the date of the First Refusal Expiration Notice. Payment of the purchase price will be made by wire transfer or check as directed by the Selling Shareholder. 

(h) Rights of a Selling Shareholder. If the Company or any Restricted Holder exercises its right of first refusal to purchase the
Offered Shares, then, upon the date the notice of such exercise is given by the Company or such Restricted Holder, as the case may be, the Selling Shareholder will have no further rights as a holder of such Offered Shares except for the right to
receive payment for such Offered Shares from the Company or such Restricted Holder in accordance with the terms of this Agreement, and the Selling Shareholder will forthwith cause all certificate(s) evidencing such Offered Shares and the relevant
instrument of transfers to be furnished to the Company or such Restricted Holder upon confirmation of the receipt of payment therefor. 

(i) Application of Co-Sale Rights. If the Company or the Restricted Holders have not elected to purchase all of the Offered
Shares, then the sale of the remaining Offered Shares will become subject to the co-sale rights set forth in Section 5.4 below. 

5.4 Co-Sale Right. To the extent that the Company and Restricted Holders have not exercised their respective rights of first
refusal with respect to any or all of the Offered Shares, then each Restricted Holder that did not exercise its right of first refusal with respect to any of the Offered Shares shall have the right, exercisable upon written notice to the Selling
Shareholder, the Company and each other Restricted Holder (the “Co-Sale Notice”) within twenty (20) days after receipt of the First Refusal Expiration Notice (the “Co-Sale Right Period”), to participate in such
sale of the Offered Shares on the same terms and conditions as set forth in the Transfer Notice. The Co-Sale Notice shall set forth the number of Company securities (on both an absolute and as-if-converted to Ordinary Shares basis) that such
participating Restricted Holder wishes to include in such sale or transfer, which amount shall not exceed the Co-Sale Pro Rata Portion (as defined below) of such Restricted Holder. To the extent one (1) or more of the Restricted Holders
exercise such right of participation in accordance with the terms and conditions set forth below, the number of Restricted Shares that the Selling Shareholder may sell in the transaction shall be correspondingly reduced. The co-sale right of each
Restricted Holder shall be subject to the following terms and conditions: 
 (a) Co-Sale Pro Rata Portion. Each
Restricted Holder that did not exercise its right of first refusal with respect to any of the Offered Shares may sell all or any part of that number of Ordinary Shares (an on as-if-converted basis) held by it that is equal to the product obtained by
multiplying (x) the aggregate number of the Offered Shares subject to the co-sale right hereunder by (y) a fraction, the numerator of which is the number of Ordinary Shares (on an as-if-converted basis) owned by the Restricted Holder on
the date of the Transfer Notice and the denominator of which is the total combined number of Ordinary Shares (on an as-if-converted basis) owned by all participating Restricted Holders and the Selling Shareholder on the date of the Transfer Notice
(“Co-Sale Pro Rata Portion”). To the extent that any Restricted Holder does not participate in the sale to the full extent of its Co-Sale Pro Rata Portion, the Selling Shareholder and the participating Restricted Holders shall,
within five (5) days after the end of such Co-Sale Right Period, make such adjustments to the Co-Sale Pro Rata Portion of each participating Restricted Holder so that any remaining Offered Shares may be allocated to other participating
Restricted Holders and the Selling Shareholder on a pro rata basis. 
  

 24 

 (b) Transferred Shares. Each participating Restricted Holder shall effect its
participation in the sale by promptly delivering to the Selling Shareholder for transfer to the prospective purchaser one or more duly completed instruments of transfer, which represent: 

(i) the number of Ordinary Shares which such Restricted Holder elects to sell; 

(ii) that number of Series A Shares which is at such time convertible into the number of Ordinary Shares that such Restricted Holder
elects to sell; provided in such case that, if the prospective purchaser objects to the delivery of Series A Shares in lieu of Ordinary Shares, such Restricted Holder shall convert such Series A Shares into Ordinary Shares and deliver Ordinary
Shares as provided in Subsection 5.4(b)(i) above. The Company agrees to make any such conversion concurrent with the actual transfer of such shares to the purchaser; or 

(iii) or a combination of the above. 

(c) Payment to Restricted Holders. The share certificate or certificates that any participating Restricted Holder delivers to the
Selling Shareholder pursuant to Section 5.4(b) shall be transferred to the prospective purchaser in consummation of the sale of the Restricted Shares pursuant to the terms and conditions specified in the Transfer Notice, and the Selling
Shareholder shall concurrently therewith remit to such Restricted Holder that portion of the sale proceeds to which such Restricted Holder is entitled by reason of its participation in such sale. To the extent that any prospective purchaser or
purchasers prohibits such assignment or otherwise refuses to purchase any shares or other securities from a Restricted Holder exercising its co-sale right hereunder, the Selling Shareholder shall not sell to such prospective purchaser or purchasers
any Restricted Shares unless and until, simultaneously with such sale, the Selling Shareholder shall purchase such shares or other securities from such Restricted Holder on the same terms and conditions as those governing the sale to the purchasers
by the Selling Shareholder. 
 (d) Right to Transfer. To the extent the Restricted Holders do not elect to purchase, or
to participate in the sale of, the Restricted Shares subject to the Transfer Notice, the Selling Shareholder may, not later than one hundred and twenty (120) days following the expiration of the Co-Sale Right Period, conclude a transfer of the
Restricted Shares covered by the Transfer Notice and not elected to be purchased by the Restricted Holders, which in each case shall be on terms and conditions not materially more favorable to the Selling Shareholder than those described in the
Transfer Notice. Any proposed transfer on terms and conditions which are materially more favorable those described in the Transfer Notice, as well as any subsequent proposed transfer of any Restricted Shares by the Selling Shareholder, shall again
be subject to the right of first refusal of the First Refusal Right Holders and the co-sale right of the Restricted Holders and shall require compliance by the Selling Shareholder with the procedures described in Section 5.3 and
Section 5.4 of this Agreement. 
  

 25 

 5.5 Exempt Transfers. Notwithstanding anything to the contrary contained herein, the
right of first refusal and co-sale rights of the Company and/or the Restricted Holders shall not apply to (a) any sale or transfer of Restricted Shares from any Investor to any entity wholly-owned, directly or indirectly, by such Investor, or
such Investor’s limited partners; (b) any sale or transfer of Ordinary Shares to the Company pursuant to a repurchase right or right of first refusal held by the Company in the event of a termination of employment or consulting
relationship; (c) any transfer to the parents, children, spouse or grandchildren or trusts for the benefit of such persons, of any Founder or his or her Permitted Transferees for bona fide estate planning purposes; (d) any transfer of
Ordinary Shares from a Founder Entity, any permitted assignees to whom a Founder Entity’s rights under this Section 5 have been duly assigned in accordance with this Agreement, or any employee of the Company holding greater than one
percent (1%) of the Ordinary Shares on a fully diluted and an as-if-converted basis (each, a “Permitted Seller”) to any one or more other Permitted Seller(s); (e) any transfer of Ordinary Shares from any Founder Entity to
the corresponding person under the caption “Founders” as set forth in Exhibit D hereto or to any entity wholly-owned, directly or indirectly, by such person, in each case not exceeding the number of Ordinary Shares set forth
opposite the name of such persons and under the caption “Number of Founder Shares” in Exhibit D (subject to adjustment for share splits, share dividends, share combinations, reclassifications or similar events); or
(f) any transfer from one or more Founder Entities or any of the persons listed under the caption “Founders” as set forth in Exhibit D hereto to any senior management of the PRC Companies, provided that such senior
management members are employed at the time of such transfer and no more than 25% of the Ordinary Shares in the aggregate may be transferred pursuant to this sub-clause (f) and that such transfer(s) shall be subject to compliance by the
transferee with any applicable rule or regulation under PRC Law with respect to the receipt of such Ordinary Shares (each transferee pursuant to the foregoing clauses (a) - (f), a “Permitted Transferee”); provided that adequate
documentation therefor is provided to the Company and that any such Permitted Transferee agrees in writing to be bound by this Agreement in place of the relevant transferor; provided, further, that such transferor shall remain liable for any breach
by such Permitted Transferee of any provision hereunder. 
 5.6 Prohibited Transfers. 

(a) Except for transfers by the Restricted Holders to Permitted Transferees as provided in Section 5.5 above, none of the Founder
Entities, the Founders and their Permitted Transferees shall, without the prior written consent of the Board (including at least one (1) director designated by an Investor, if any), directly or indirectly, sell, assign, transfer, pledge,
hypothecate, mortgage, encumber or otherwise dispose of the Company securities now held by it or him to any person on or prior to a Qualified Public Offering. 

(b) Any attempt by a party to sell or transfer Restricted Shares in violation of this Section 5 shall be void and the Company hereby
agrees it will not effect such a transfer nor will it treat any alleged transferee as the holder of such shares without the written consent of the Board (including at least one (1) director designated by an Investor, if any). 

 

 26 

 5.7 Legend. 

(a) Each certificate representing the Restricted Shares shall be endorsed with the following legend: 

“THE SALE, PLEDGE, HYPOTHECATION OR TRANSFER OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE IS SUBJECT TO CERTAIN RESTRICTIONS ON
TRANSFER SET FORTH IN A SHAREHOLDERS AGREEMENT, A COPY OF WHICH MAY BE OBTAINED UPON WRITTEN REQUEST TO THE SECRETARY OF THE COMPANY.” 

(b) Each party agrees that the Company may instruct its transfer agent to impose transfer restrictions on the shares represented by
certificates bearing the legend referred to in Section 5.7(a) above to enforce the provisions of this Agreement and the Company agrees to promptly do so. The legend shall be removed upon termination of the provisions of this Section 5.

 5.8 Restriction on Indirect Transfers. Notwithstanding anything to the contrary contained herein, without the prior
written approval of holders of at least a majority of the Series A Shares then outstanding: 
 (a) (i) Each of the Founders
shall not, and shall use his commercially reasonable efforts to cause any shareholder of any Founder Entity whose name is set forth next to such Founder’s in Exhibit D not to, directly or indirectly, sell, assign, transfer, pledge,
hypothecate, mortgage, encumber or otherwise dispose through one or a series of transactions any equity interest held, directly or indirectly, by such shareholder in such Founder Entity to any person other than such Founder; and (ii) Each
Founder Entity shall not, and each of the Founders shall use his commercially reasonable efforts to cause such Founder Entity whose name is set forth next to such Founder’s in Exhibit D not to, issue to any person other than such Founder
any equity securities of such Founder Entity or any options or warrants for, or any other securities exchangeable for or convertible into, such equity securities of such Founder Entity. 

(b) Except as contemplated in the Contractual Agreements (as defined in the Purchase Agreement), each of the Founders shall not, and
shall use his commercially reasonable efforts to prevent any other person to, directly or indirectly, sell, assign, transfer, pledge, hypothecate, mortgage, encumber or otherwise dispose through one or a series of transactions any equity interest
held or controlled by him in any PRC Company to any person. Any transfer in violation of this Section 5.8(b) shall be void. 

(c) Each of the Founders shall use his commercially reasonable efforts to cause the PRC Companies not to issue to any person any equity
securities of such PRC Companies, or any options or warrants for, or any other securities exchangeable for or convertible into, such equity securities of such PRC Companies. 

5.9 Term. The provisions under this Section 5 shall terminate upon a Qualified Public Offering. 

 

 27 

	6.	ASSIGNMENT AND AMENDMENT. 

6.1 Assignment. Notwithstanding anything herein to the contrary: 

(a) Registration Rights. The registration rights of the Holders under Section 3 may be assigned to any Holder or to any
person acquiring Registrable Securities; provided that, in each case such assignee is not a Competitor, and either (i) the Registrable Securities being transferred include shares representing at least two percent (2%) of the then current
capitalization of the Company on an as-converted basis or represent all of the Registrable Securities held by each of the transferring Holders; or (ii) the proposed assignment is to constituent partners or shareholders who agree to act through
a single representative; provided, however, that in either case no party may be assigned any of the foregoing rights unless the Company is given written notice by the assigning party stating the name and address of the assignee and identifying the
securities of the Company as to which the rights in question are being assigned; and provided further, that any such assignee shall receive such assigned rights subject to all the terms and conditions of this Agreement and such assignee agrees in
writing to be bound by all the terms and conditions of this Agreement. 
 (b) Right of Participation. The rights of the
Investors under Section 4 may be assigned in connection with a transfer of shares of the Company by such Investors; provided, however, that no party may be assigned any of the foregoing rights unless the Company is given written notice by the
Investors stating the name and address of the assignee and identifying the securities of the Company as to which the rights in question are being assigned; provided further that any such transferee shall not be a Competitor; and provided further,
that any such assignee shall receive such assigned rights subject to all the terms and conditions of this Agreement, including without limitation the provisions of this Section 6, and such assignee agrees in writing to be bound by all the terms
and conditions of this Agreement. 
 6.2 Amendment of Rights. Any provision in this Agreement may be amended and the
observance thereof may be waived (either generally or in a particular instance and either retroactively or prospectively), only by the written consent of (i) as to the Company, only by the Company; (ii) as to the Investors, by persons or
entities holding at least a majority of the outstanding Series A Shares held by the Investors and their assigns; provided, however, that any holder of Series A Shares may waive any of its rights hereunder without obtaining the consent of any other
holders of Series A Shares or their assigns; (iii) as to each Founder Entity, by such Founder Entity and its assigns; and (iv) as to each Founder, by such Founder. In the event an amendment or waiver is effected in accordance with this
Section 6.2 by the Investors holding at least a majority of the outstanding Series A Shares, the Company shall provide written notice of the same to all non-consenting holders of Series A Shares. Any amendment or waiver effected in accordance
with this Section 6.2 shall be binding upon the Company, the Investors, the Founder Entities, the Founders and their respective assigns. Notwithstanding the foregoing, if any Investor (“Affected Investor”) is specifically and
negatively affected relative to the other Investors by any particular amendment to be made pursuant to this Section 6.2, then such amendment shall not take effect without the Affected Investor’s prior written consent; if any Founder or
Founder Entity (“Affected Founder”) is specifically and negatively affected relative to the other Founders or Founder Entities, as the case may be, by any particular amendment to be made pursuant to this Section 6.2, then such
amendment shall not take effect without the Affected Founder’s prior written consent. 
  

 28 

	7.	CONFIDENTIALITY AND NON-DISCLOSURE. 

7.1 Disclosure of Terms. The Terms and Identity Information shall be considered Confidential Information and shall not be disclosed
by any party hereto to any third party except in accordance with the provisions set forth below; provided that such Confidential Information shall not include any information that is in the public domain other than caused by the breach of the
confidentiality obligations hereunder. 
 7.2 Press Releases, Etc. Any press release issued by the Company shall not
disclose any of the Confidential Information and the final form of such press release shall be approved in advance in writing by the Investors holding a majority of the Series A Shares outstanding; provided that any press release containing Identity
Information of an Investor shall require the prior written approval of such Investor. Any press release issued by an Investor relating to the Company shall not disclose any of the Confidential Information and the final form of such press release
shall be approved in advance in writing by the Company. No announcement regarding, or disclosure of, any of the Confidential Information, whether in a press release, conference, advertisement, announcement, professional or trade publication, mass
marketing materials or otherwise, may be made by the Company or any of the Investors without the prior written consent of the Company and each other Investor. 

Notwithstanding the preceding paragraph, within sixty (60) days after the Closing (as defined in the Purchase Agreement) the Company
may issue a press release disclosing that the Investors have invested in the Company, provided that (i) the press release does not disclose the amount or terms of the investment; and (ii) the final form of the press release is approved in
advance in writing by Sequoia (which approval shall not be unreasonably withheld). The name of each such Investor and the fact that such Investor is a shareholder of the Company can be included in a reusable press release boilerplate statement, so
long as such Investor has given the Company its initial approval of such boilerplate statement (which approval shall not be unreasonably withheld) and the boilerplate statement is reproduced in substantially the form in which it was approved.

 7.3 Permitted Disclosures. Notwithstanding the foregoing, any party may disclose any of the Confidential Information
(other than Identity Information) to its current or bona fide prospective investors, employees, investment bankers, lenders, partners, accountants and attorneys, in each case only where such persons or entities are under appropriate nondisclosure
obligations. Without limiting the generality of the foregoing, the Investors shall be entitled to disclose the Confidential Information (other than Identity Information) for the purposes of fund reporting or inter-fund reporting or to their fund
manager, other funds managed by their fund manager and their respective auditors, counsel, directors, officers, employees, shareholders or investors. 

7.4 Legally Compelled Disclosure. In the event that any party is requested or becomes legally compelled (including without
limitation, pursuant to securities laws and regulations) to disclose any of the Confidential Information in contravention of the provisions of this Section 7, such party (the “Disclosing party”) shall provide the other parties
(the “Non-Disclosing parties”) with prompt written notice of that fact and use all reasonable efforts to seek (with the cooperation and reasonable efforts of the other parties) a protective order, confidential treatment or other
appropriate remedy to contest such disclosure. In such event, the Disclosing party shall furnish only that portion of the information which is legally required to be disclosed and shall exercise reasonable efforts to keep confidential such
information to the extent reasonably requested by any Non-Disclosing party. 
  

 29 

 7.5 No Conveyance of License. Nothing in this Agreement, the Purchase Agreement or
any exhibits and schedules attached to such agreements, shall be construed to convey to any party hereto and thereto, either expressly or by implication, any right to use or exploit any of the other parties’ names, trade names or trademarks.
Any use by a party of any other party’s name, trade name or trademarks, whether in a press release, conference, advertisement, announcement, professional or trade publication, mass marketing materials or otherwise, requires the prior written
consent of the party whose name, trade name or trademark is being used. 
 7.6 Other Information. The provisions of this
Section 7 shall be in addition to, and not in substitution for, the provisions of any separate nondisclosure agreement executed by any of the parties with respect to the transactions contemplated hereby. 

7.7 Notices. All notices required under this section shall be made pursuant to Section 10.2 of this Agreement. 

 

	8.	[Intentionally left blank]. 

  

	9.	COVENANTS OF THE FOUNDERS. 

The Founders each hereby jointly and severally covenant to each Investor to use commercially reasonable efforts to procure the Group
Companies (as defined in the Purchase Agreement) to implement and comply with their respective covenants in accordance with the terms set forth in Section 8 of the Purchase Agreement; provided, however, that any liability of the Founders
pursuant to this Section 9 shall be considered as part of the liability limited by Section 10.2 of the Purchase Agreement. 
  

	10.	GENERAL PROVISIONS. 

 10.1
Termination. Unless expressly provided otherwise in the relevant Section, in addition to the other termination provisions in this Agreement, this Agreement shall terminate, and have no further force and effect, when the Company shall
consummate a transaction or series of related transactions deemed to be a liquidation, dissolution or winding up of the Company pursuant to the Company’s Memorandum and Articles, as such Memorandum and Articles may be amended from time to time.

 10.2 Notices. Except as may be otherwise provided herein, all notices, requests, waivers and other communications made
pursuant to this Agreement shall be in writing and shall be conclusively deemed to have been duly given (a) when hand delivered to the other party, upon delivery; (b) when sent by facsimile at the number set forth in Exhibit E
hereto, upon receipt of confirmation of error-free transmission; or (c) three (3) business days after deposit with an international overnight delivery service, postage prepaid, addressed to the parties as set forth in Exhibit E with
next or second business day delivery guaranteed, provided that the sending party receives a confirmation of delivery from the delivery service provider. 

Each person making a communication hereunder by facsimile shall promptly confirm by telephone to the person to whom such communication
was addressed each communication made by it by facsimile pursuant hereto but the absence of such confirmation shall not affect the validity of any such communication. A party may change or supplement the addresses given above, or designate
additional addresses, for purposes of this Section 10.2 by giving the other party written notice of the new address in the manner set forth above. 
  

 30 

 10.3 Entire Agreement. This Agreement, the Purchase Agreement, the Contractual
Agreements (as defined in the Purchase Agreement), together with all the exhibits hereto and thereto, constitute and contain the entire agreement and understanding of the parties with respect to the subject matter hereof and supersedes any and all
prior negotiations, correspondence, agreements, understandings, duties or obligations between the parties respecting the subject matter hereof. 

10.4 Governing Law and Jurisdiction. This Agreement shall be governed in all respects by the laws of Hong Kong. The parties hereto
shall submit to the exclusive jurisdiction of the Hong Kong courts for the purpose of any suit, action, or other proceeding arising out of or based upon this Agreement. 

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

10.6 Third Parties. Nothing in this Agreement, express or implied, is intended to confer upon any person, other than the parties
hereto and their permitted successors and assigns any rights or remedies under or by reason of this Agreement. 
 10.7
Successors and Assigns. Subject to the provisions of Section 6.1, the provisions of this Agreement shall inure to the benefit of, and shall be binding upon, the successors and permitted assigns of the parties hereto. 

10.8 Interpretation; Captions. This Agreement shall be construed according to its fair language. The rule of construction to the
effect that ambiguities are to be resolved against the drafting party shall not be employed in interpreting this Agreement. The captions to sections of this Agreement have been inserted for identification and reference purposes only and shall not be
used to construe or interpret this Agreement. Unless otherwise expressly provided herein, all references to Sections and Exhibits herein are to Sections and Exhibits of this Agreement. 

10.9 Counterparts. This Agreement may be executed in counterparts, each of which shall be deemed an original, but all of which
together shall constitute one and the same instrument. 
 10.10 Adjustments for Share Splits, Etc. Wherever in this
Agreement there is a reference to a specific number of shares of Series A Shares or Ordinary Shares of the Company, then, upon the occurrence of any subdivision, combination or share dividend of the Series A Shares or Ordinary Shares, the specific
number of shares so referenced in this Agreement shall automatically be proportionally adjusted to reflect the effect on the outstanding shares of such class or series of shares by such subdivision, combination or share dividend. 

 

 31 

 10.11 Aggregation of Shares. All Series A Shares or Ordinary Shares held or acquired
by Affiliated entities or persons (as defined in Rule 144 under the Securities Act) shall be aggregated together for the purpose of determining the availability of any rights under this Agreement. 

10.12 Shareholders Agreement to Control. If and to the extent that there are inconsistencies between the provisions of this
Agreement and those of the Memorandum and Articles, the terms of this Agreement shall control to the extent permissible under any applicable law. The parties agree to take all actions necessary or advisable, as promptly as practicable after the
discovery of such inconsistency, to amend the Memorandum and Articles so as to eliminate such inconsistency to the extent permissible under any applicable law. 

– REMAINDER OF THIS PAGE LEFT INTENTIONALLY BLANK – 

 

 32 

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

 

			
	AUTONAVI HOLDINGS LTD.
		
	By:	 	
 

		 	Print Name:
		 	Title:

 A SIGNATURE PAGE FOR 

AUTONAVI HOLDINGS LTD. 

SHAREHOLDERS AGREEMENT 

 FOUNDER ENTITIES: 
  

			
	WIN STONE LIMITED
		
	By:	 	
 

		 	Print Name:
		 	Title:
	
	MILLION STONE DEVELOPMENT LIMITED
		
	By:	 	
 

		 	Print Name:
		 	Title:
	
	DOUBLE88 CAPITAL LIMITED
		
	By:	 	
 

		 	Print Name:
		 	Title:
	
	DOUBLE 88 GROUP HOLDINGS LIMITED
		
	By:	 	
 

		 	Print Name:
		 	Title:

 A SIGNATURE PAGE FOR 

AUTONAVI HOLDINGS LTD. 

SHAREHOLDERS AGREEMENT 

 FOUNDERS: 
  

			
	By:	 	
 

		 	Print Name: Hou Jun

		
	By:	 	
 

		 	Print Name: Cheng Congwu 

		
	By:	 	
 

		 	Print Name: Tang Xiyong

		
	By:	 	  

		 	Print Name: Ye Wenzhi

		
	By:	 	
 

		 	Print Name: Liu Peng

		
	By:	 	
 

		 	Print Name: Yuan Jianjun

 A SIGNATURE PAGE FOR 

AUTONAVI HOLDINGS LTD. 

SHAREHOLDERS AGREEMENT 

 FOUNDERS: 
  

			
	By:	 	  

		 	Print Name: Hou Jun

		
	By:	 	  

		 	Print Name: Cheng Congwu

		
	By:	 	  

		 	Print Name: Tang Xiyong

		
	By:	 	
 

		 	Print Name: Ye Wenzhi 

		
	By:	 	  

		 	Print Name: Liu Peng 

		
	By:	 	  

		 	Print Name: Yuan Jianjun

 A SIGNATURE PAGE FOR 

AUTONAVI HOLDINGS LTD. 

SHAREHOLDERS AGREEMENT 

 INVESTOR: 
  

			
	SEQUOIA CAPITAL CHINA I, L.P.
		
	By:	 	
 

		 	Print Name:
		 	Title:
	
	SEQUOIA CAPITAL CHINA PARTNERS FUND 1, L.P.
		
	By:	 	
 

		 	Print Name:
		 	Title:
	
	SEQUOIA CAPITAL CHINA PRINCIPALS FUND I, L.P.
		
	By:	 	
 

		 	Print Name:
		 	Title:

 A SIGNATURE PAGE FOR 

AUTONAVI HOLDINGS LTD. 

SHAREHOLDERS AGREEMENT 

			
	INVESTOR:
	
	CMT CV-AN LIMITED
		
	By:	 	
 

		 	Print Name: MICHAEL KOPING SHEN
		 	Title: DIRECTOR

 A SIGNATURE PAGE FOR

 AUTONAVI HOLDINGS LTD. 

SHAREHOLDERS AGREEMENT 

 INVESTOR: 
  

			
	KPCB HOLDINGS INC., as nominee
		
	By:	 	
 

		 	Print Name: Ted Schlein
		 	Title: Senior Vice President

 A SIGNATURE
PAGE FOR 
 AUTONAVI HOLDINGS LTD. 

SHAREHOLDERS AGREEMENT 

 INVESTOR: 

PACVEN WALDEN VENTURES V, L.P. 
 PACVEN WALDEN
VENTURES PARALLEL V-A C.V. 
 PACVEN WALDEN VENTURES PARALLEL V-B C.V. 

PACVEN WALDEN VENTURES V ASSOCIATES FUND, L.P. 

PACVEN WALDEN VENTURES V-QP ASSOCIATES FUND, L.P. 
  

					
	By:	 	
 

		 	Print Name: Mak Sai Chak
		 	Title:	 	 Authorized Signatory of Pacven Walden

Management V, Co., Ltd., as General
 Partner of
the above entities

 A SIGNATURE PAGE FOR 

AUTONAVI HOLDINGS LTD. 

SHAREHOLDERS AGREEMENT 

 INVESTOR: 
  

			
	LC FUND III, L.P.
		
	By:	 	
 

		 	Print Name: Chen Hao
		 	Title: Managing Director

 A SIGNATURE PAGE
FOR 
 AUTONAVI HOLDINGS LTD. 

SHAREHOLDERS AGREEMENT 

 INVESTOR: 
  

			
	HARBINGER (BVI) VENTURE CAPITAL CORP.
		
	By:	 	
 

		 	Print Name: Chou, Teh-Chien
		 	Title: Director
	
	BUDWORTH INVESTMENTS LIMITED
		
	By:	 	
 

		 	Print Name: Chou, Teh-Chien
		 	Title: Director

 A SIGNATURE PAGE FOR

 AUTONAVI HOLDINGS LTD. 

SHAREHOLDERS AGREEMENT 

			
	INVESTOR:
	
	INVENTEC APPLIANCES (CAYMAN) HOLDING CORP.
		
	By:	 	
 

		 	Print Name: Arnold Gia-Shuh Jang
		 	Title: VP

 A SIGNATURE PAGE FOR 

AUTONAVI HOLDINGS LTD. 

SHAREHOLDERS AGREEMENT 

 INVESTOR: 
  

	
	INDUS ASIA PACIFIC MASTER FUND, LTD.
	
	INDUS PACIFIC SMALLER COMPANIES MASTER FUND, LTD.
	
	By: Indus Capital Partners, LLC, its investment manager
	
	
 

	Name: Brian Guzman
	Title: Managing Director, Counsel

 A SIGNATURE
PAGE FOR 
 AUTONAVI HOLDINGS LTD. 

SHAREHOLDERS AGREEMENT 

 INVESTOR: 
  

	
	INDUS OPPORTUNITY MASTER FUND, LTD.
	
	By Indus Capital Partners, LLC, its investment manager
	
	
 

	Name: Brian Guzman
	Title: Managing Director, Counsel

 A SIGNATURE
PAGE FOR 
 AUTONAVI HOLDINGS LTD. 

SHAREHOLDERS AGREEMENT 

			
	INVESTOR:
	
	MTI CAPITAL LIMITED
		
	By:	 	
 

		 	Print Name: Matt S.Y. Lam
		 	Title: Director

 A SIGNATURE PAGE FOR

 AUTONAVI HOLDINGS LTD. 

SHAREHOLDERS AGREEMENT 

							
	 LIST OF EXHIBITS

 

		 	Exhibit A	  	Schedule of Founder Entities	  	
				
		 	Exhibit B	  	Schedule of Founders	  	
				
		 	Exhibit C	  	Schedule of Investors	  	
				
		 	Exhibit D	  	Allocation of Founder Shares	  	
				
		 	Exhibit E	  	Notices	  	

 EXHIBIT A 

Schedule of Founder Entities 
  

	1.	Win Stone Limited 

  

	2.	Million Stone Development Limited 

  

	3.	Double88 Capital Limited 

  

	4.	Double88 Group Holdings Limited 

 EXHIBIT B 

Schedule of Founders 

Hou Jun 

 of PRC ID No. 
 Cheng Congwu

 of PRC ID No. 
 Tang Xiyong 

 of PRC ID No. 
 Ye Wenzhi

 of PRC ID No. 
 Liu Peng

 of PRC ID No. 
 Yuan Jianjun

 of PRC ID No. 

 EXHIBIT C 

Schedule of Investors 

Sequoia Capital China I, L.P.; 
 Sequoia Capital
China Partners Fund I, L.P.; and 
 Sequoia Capital China Principals Fund I, L.P. (together “Sequoia”) 

CMT CV-AN Limited (“CMT”) 

KPCB Holdings Inc. (“KPCB”) 

Pacven Walden Ventures V, L.P.; 
 Pacven Walden
Ventures Parallel V-A C.V.; 
 Pacven Walden Ventures Parallel V-B C.V.; 

Pacven Walden Ventures V Associates Fund, L.P.; and 

Pacven Walden Ventures V-QP Associates Fund, L.P. (together, “Walden”) 

LC Fund III, L.P. (“Legend”) 

Harbinger (BVI) Venture Capital Corp.; and 

Budworth Investments Limited, (together, “Harbinger”) 

Inventec Appliances (Cayman) Holding Corp. (“Inventec”) 

Indus Asia Pacific Master Fund, Ltd.; and 

Indus Pacific Smaller Companies Master Fund, Ltd. (together, “Indus”) 

MTI Capital Limited (“MTI”) 

 EXHIBIT D 

Allocation of Founder Shares 
  

							
	 Founder Entity
	  	 Founder
	  	Shareholding In
Each Entity	  	Number of Founder
Shares
	Win Stone Limited	  	Hou Jun	  	25,860	  	17,100,000
		  	Liu Peng	  	24,140	  	15,960,000
				
	Million Stone Development Limited	  	Hou Jun	  	25,860	  	17,100,000
		  	Yuan Jianjun	  	24,140	  	15,960,000
				
	Double88 Capital Limited	  	Cheng Congwu	  	50,000	  	5,700,000
				
	Double88 Group Holdings Limited	  	Hou Jun	  	18,920	  	15,960,000
		  	Cheng Congwu	  	17,570	  	14,820,000
		  	Ye Wenzhi	  	6,755	  	5,700,000
		  	Tang Xiyong	  	6,755	  	5,700,000
				
	 TOTAL
	  		  		  	114,000,000
		  		  		  	 

 EXHIBIT E 

Notices 
 If to the
Company, the PRC Companies, the Founder Entities and the Founders: 
 Attention: 

Address: 
 Telephone: 

Facsimile: 
 If to the Investor:

  

							
	 	 	Name	 	 	  	            Address
				
	Sequoia	 		 		  	 Sequoia China Capital
 Unit
3202A, 32/F, The Centrium
 No. 60 Wyndham Street

Hong Kong
 Fax: (852)2501-5240

Attention: Neil Shen
  

With an electronic copy to the following e-mail address:
  

shen@sequoiacap.com

				
	CMT	 		 		  	 c/o: CMT China Value Capital Partners

  Attn: Charlie Shi / Michael Shen

  11/F, Ming-An Plaza, Phase II

  8 Sunning Road, Causeway Bay

  Hong Kong
  

Tel: 852-2890-6768
 Fax: 852-2890-8993

 
 With an electronic copy to the following e-mail address:

 
 cshi@cmtcv.com

mshen@cmtcv.com

							
	 	 	Name	 	 	  	                            
Address
				
	KPCB	 		 		  	 Sue Biglieri, CFO

KPCB
 2750 Sand Hill Road

Menlo Park, CA 94025
 Fax:
650-233-9311

				
		 		 		  	With an electronic copy to the following e-mail address:
				
		 		 		  	SBiglieri@kpcb.com
				
	Walden	 		 		  	 One California Street, 28th Floor

San Francisco, CA 94111

				
		 		 		  	 Tel:     415-765-7100

Fax:     415-765-7200

				
		 		 		  	Attention: Jeffrey Zeng / Yimin Zimmerer
				
	Legend	 		 		  	 c/o Legend Capital Limited,

  10th Floor, Tower A,

  Raycom Info. Tech Center,

  No. 2 Ke Yue Yuan Nan Lu,

  Zhong Guan Cun Haidian District,

  Beijing 100080, China.

Attention: Mr.Chen Hao

				
		 		 		  	 Email:
  

  chenhao@legendcapital.com.cn

  huangxh@legendcapital.com.cn

				
		 		 		  	Fax:(8610)62509100
				
	Harbinger	 		 		  	 7F, No. 187, Tiding Blvd.,

Sec. 2, Neihu, Taipei,
 Taiwan 114,
R.O.C.

				
		 		 		  	Attention: Mr. Chou, Teh-Chien, Director
				
		 		 		  	 Email:
  

tcchou@harbingervc.com
  

Fax: (886)2 -2657-7966

							
	 	 	Name	 	 	  	                        
Address
				
	Inventec	 		 		  	 No.37, Wugong 5 Rd.,
 Wugu
Industrial Park,
 Wugu Hsiang, Taipei,

Taiwan 248, R.O.C.

				
		 		 		  	Attention: Arnold Jang
				
	Indus	 		 		  	 c/o: Indus Capital Partners, LLC

  152 West 57th Street, 28th Floor

  New York, New York 10019

  Attention: Brian Guzman

				
		 		 		  	 (P) (212) 909-2864
 (F)
(212) 909-2878

				
		 		 		  	 Email:
  

bguzman@induscap.com

				
	MTI	 		 		  	 China Address:
 Room 608,

 Building 4 Jinhai Guoji,
 No. 21,
Guangqu Road,
 Chaoyang District,

Beijing 100022

				
		 		 		  	 Telephone 86-10-5820-0662

Fax: 86-10-5820-0761

				
		 		 		  	 US Address:
 8323
O’Hara Court Baton Rouge,
 LA 70806, USA
  

Telephone: (225) 753-00382007 Share Incentive Plan

 Exhibit 10.1 

AUTONAVI HOLDINGS LTD. 

2007 SHARE INCENTIVE PLAN 

(Amended and Restated Effective June 3, 2010) 

ARTICLE 1 

PURPOSE 

The purpose of the 2007 Share Incentive Plan (as amended and restated on December 10, 2009, the “Plan”) is to
promote the success and enhance the value of AutoNavi Holdings Ltd., a company formed under the laws of the Cayman Islands (the “Company”) by linking the personal interests of the members of the Board of Directors (the
“Board”), Employees, and Consultants to those of the Company shareholders and by providing such individuals with an incentive for outstanding performance to generate superior returns to the Company shareholders. The Plan is further
intended to provide flexibility to the Company in its ability to motivate, attract, and retain the services of members of the Board, Employees, and Consultants upon whose judgment, interest, and special effort the successful conduct of the
Company’s operation is largely dependent. 
 ARTICLE 2 

DEFINITIONS AND CONSTRUCTION 

Wherever the following terms are used in the Plan they shall have the meanings specified below, unless the context clearly indicates
otherwise. The singular pronoun shall include the plural where the context so indicates. 
 2.1 “Applicable
Laws” means the legal requirements relating to the Plan and the Awards under applicable provisions of the corporate, securities, tax and other laws, rules, regulations and government orders, and the rules of any applicable stock exchange or
national market system, of any jurisdiction applicable to Awards granted to residents therein. 
 2.2 “Award”
means an Option, a Restricted Share award, a Share Appreciation Right award, a Dividend Equivalents award, a Share Payment award, a Deferred Share award, or a Restricted Share Unit award granted to a Participant pursuant to the Plan. 

2.3 “Award Agreement” means any written agreement, contract, or other instrument or document evidencing an Award,
including through electronic medium. 
 2.4 “Board” means the Board of Directors of the Company. 

2.5 “Change of Control” means a change in ownership or control of the Company effected through either of the following
transactions: 
 (a) the direct or indirect acquisition by any person or related group of persons (other than an acquisition
from or by the Company or by a Company-sponsored employee benefit plan or by a person that directly or indirectly controls, is controlled by, or is under common control with, the Company) of beneficial ownership (within the meaning of
Rule 13d-3 of the Exchange Act) of securities possessing more than fifty percent (50%) of the total combined voting power of the Company’s outstanding securities pursuant to a tender or exchange offer made directly to the
Company’s shareholders which a majority of the Incumbent Board (as defined below) who are not affiliates or associates of the offeror under Rule 12b-2 promulgated under the Exchange Act do not recommend such shareholders accept, or

 (b) the individuals who, as of the Effective Date, are members of the Board (the
“Incumbent Board”), cease for any reason to constitute at least fifty percent (50%) of the Board; provided that if the election, or nomination for election by the Company’s shareholders, of any new member of the Board is approved
by a vote of at least fifty percent (50%) of the Incumbent Board, such new member of the Board shall be considered as a member of the Incumbent Board. 

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

2.7 “Committee” means the committee of the Board described in Article 11. 

2.8 “Consultant” means any consultant or adviser if: (a) the consultant or adviser renders bona fide services to a
Service Recipient; (b) the services rendered by the consultant or adviser are not in connection with the offer or sale of securities in a capital-raising transaction and do not directly or indirectly promote or maintain a market for the
Company’s securities; and (c) the consultant or adviser is a natural person who has contracted directly with the Service Recipient to render such services. 

2.9 “Corporate Transaction” means any of the following transactions, provided, however, that the Committee shall
determine under (d) and (e) whether multiple transactions are related, and its determination shall be final, binding and conclusive: 

(a) an amalgamation, arrangement or consolidation in which the Company is not the surviving entity, except for a transaction the
principal purpose of which is to change the jurisdiction in which the Company is incorporated; 
 (b) the sale, transfer or
other disposition of all or substantially all of the assets of the Company; 
 (c) the complete liquidation or dissolution of
the Company; 
 (d) any reverse takeover or series of related transactions culminating in a reverse takeover (including, but not
limited to, a tender offer followed by a reverse takeover) in which the Company is the surviving entity but (A) the Ordinary Shares outstanding immediately prior to such takeover are converted or exchanged by virtue of the takeover into other
property, whether in the form of securities, cash or otherwise, or (B) in which securities possessing more than fifty percent (50%) of the total combined voting power of the Company’s outstanding securities are transferred to a person
or persons different from those who held such securities immediately prior to such takeover or the initial transaction culminating in such takeover, but excluding any such transaction or series of related transactions that the Committee determines
shall not be a Corporate Transaction; or 
  

 2 

 (e) acquisition in a single or series of related transactions by any person or related group
of persons (other than the Company or by a Company-sponsored employee benefit plan) of beneficial ownership (within the meaning of Rule 13d-3 of the Exchange Act) of securities possessing more than fifty percent (50%) of the total combined
voting power of the Company’s outstanding securities but excluding any such transaction or series of related transactions that the Committee determines shall not be a Corporate Transaction. 

2.10 “Deferred Share” means a right to receive a specified number of Shares during specified time periods pursuant to
Article 8. 
 2.11 “Disability” means that the Participant qualifies to receive long-term disability payments
under the Service Recipient’s long-term disability insurance program, as it may be amended from time to time, to which the Participant provides services regardless of whether the Participant is covered by such policy. If the Service Recipient
to which the Participant provides service does not have a long-term disability plan in place, “Disability” means that a Participant is unable to carry out the responsibilities and functions of the position held by the Participant by reason
of any medically determinable physical or mental impairment for a period of not less than ninety (90) consecutive days. A Participant will not be considered to have incurred a Disability unless he or she furnishes proof of such impairment
sufficient to satisfy the Committee in its discretion. 
 2.12 “Dividend Equivalents” means a right granted to
a Participant pursuant to Article 8 to receive the equivalent value (in cash or Share) of dividends paid on Share. 
 2.13
“Effective Date” shall have the meaning set forth in Section 12.1. 
 2.14 “Employee”
means any person, including an officer or member of the Board of the Company, any Parent or Subsidiary of the Company, who is in the employ of a Service Recipient, subject to the control and direction of the Service Recipient as to both the work to
be performed and the manner and method of performance. The payment of a director’s fee by a Service Recipient shall not be sufficient to constitute “employment” by the Service Recipient. 

2.15 “Exchange Act” means the Securities Exchange Act of 1934 of the United States, as amended. 

2.16 “Fair Market Value” means, as of any date, the value of Shares determined as follows: 

(a) If the Shares are listed on one or more established stock exchanges or national market systems, including without limitation, The
Nasdaq National Market or The Nasdaq SmallCap Market of The Nasdaq Stock Market, its Fair Market Value shall be the closing sales price for such shares (or the closing bid, if no sales were reported) as quoted on the principal exchange or system on
which the Shares are listed (as determined by the Committee) on the date of determination (or, if no closing sales price or closing bid was reported on that date, as applicable, on the last trading date such closing sales price or closing bid was
reported), as reported in The Wall Street Journal or such other source as the Committee deems reliable; 
  

 3 

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

2.17 “Incentive Share Option” means an Option that is intended to meet the requirements of Section 422 of the Code
or any successor provision thereto. 
 2.18 “Independent Director” means a member of the Board who is not an
Employee of the Company. 
 2.19 “Non-Employee Director” means a member of the Board who qualifies as a
“Non-Employee Director” as defined in Rule 16b-3(b)(3) of the Exchange Act, or any successor definition adopted by the Board. 

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

2.21 “Option” means a right granted to a Participant pursuant to Article 5 of the Plan to purchase a specified number of
Shares at a specified price during specified time periods. An Option may be either an Incentive Share Option or a Non-Qualified Share Option. 

2.22 “Participant” means a person who, as a member of the Board, Consultant or Employee, has been granted an Award
pursuant to the Plan. 
 2.23 “Parent” means a parent corporation under Section 424(e) of the Code.

 2.24 “Plan” means this 2007 Share Incentive Plan, as it may be amended from time to time. 

2.25 “PRC” means the People’s Republic of China. 

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

 

 4 

 2.27 “Restricted Share” means a Share awarded to a Participant pursuant to
Article 6 that is subject to certain restrictions and may be subject to risk of forfeiture. 
 2.28 “Restricted Share
Unit” means an Award granted pursuant to Section 8.4. 
 2.29 “Securities Act” means the
Securities Act of 1933 of the United States, as amended. 
 2.30 “Service Recipient” means the Company, any
Parent or Subsidiary of the Company and any Related Entity to which a Participant provides services as an Employee, Consultant or as a Director. 

2.31 “Share” means the ordinary share capital of the Company, par value $0.0001 per share, and such other securities of
the Company that may be substituted for Shares pursuant to Article 10. 
 2.32 “Share Appreciation Right” or
“SAR” means a right granted pursuant to Article 7 to receive a payment equal to the excess of the Fair Market Value of a specified number of Shares on the date the SAR is exercised over the Fair Market Value on the date the SAR was
granted as set forth in the applicable Award Agreement. 
 2.33 “Share Payment” means (a) a payment in the
form of Shares, or (b) an option or other right to purchase Shares, as part of any bonus, deferred compensation or other arrangement, made in lieu of all or any portion of the compensation, granted pursuant to Article 8. 

2.34 “Subsidiary” means any corporation or other entity of which a majority of the outstanding voting shares or voting
power is beneficially owned directly or indirectly by the Company. 
 2.35 “Trading Date” means the closing of
the first sale to the general public of the Shares pursuant to a registration statement filed with and declared effective by the U.S. Securities and Exchange Commission under the Securities Act. 

ARTICLE 3 

SHARES SUBJECT TO THE PLAN 

3.1 Number of Shares. 

(a) Subject to the provisions of Article 10 and Section 3.1(b), the maximum aggregate number of Shares which may be issued pursuant
to all Awards (including Incentive Share Options) is 31,987,000 Shares. 
  

 5 

 (b) To the extent that an Award terminates, expires, or lapses for any reason, any Shares
subject to the Award shall again be available for the grant of an Award pursuant to the Plan. To the extent permitted by Applicable Law, Shares issued in assumption of, or in substitution for, any outstanding awards of any entity acquired in any
form or combination by the Company or any Parent or Subsidiary of the Company shall not be counted against Shares available for grant pursuant to the Plan. Shares delivered by the Participant or withheld by the Company upon the exercise of any Award
under the Plan, in payment of the exercise price thereof or tax withholding thereon, may again be optioned, granted or awarded hereunder, subject to the limitations of Section 3.1(a), If any Restricted Shares are forfeited by the Participant or
repurchased by the Company, such Shares may again be optioned, granted or awarded hereunder, subject to the limitations of Section 3.1(a). Notwithstanding the provisions of this Section 3.1(b), no Shares may again be optioned, granted or
awarded if such action would cause an Incentive Share Option to fail to qualify as an incentive share option under Section 422 of the Code. 

3.2 Shares Distributed. Any Shares distributed pursuant to an Award may consist, in whole or in part, of authorized and unissued
Shares, treasury or Shares purchased on the open market. Additionally, in the discretion of the Committee, American Depository Shares in an amount equal to the number of Shares which otherwise would be distributed pursuant to an Award may be
distributed in lieu of Shares in settlement of any Award. If the number of Shares represented by an American Depository Share is other than on a one-to-one basis, the limitations of Section 3.1 shall be adjusted to reflect the distribution of
American Depository Shares in lieu of Shares. 
 ARTICLE 4 

ELIGIBILITY AND PARTICIPATION 

4.1 Eligibility. Persons eligible to participate in this Plan include Employees, Consultants, and all members of the Board, as
determined by the Committee. 
 4.2 Participation. Subject to the provisions of the Plan, the Committee may, from
time to time, select from among all eligible individuals, those to whom Awards shall be granted and shall determine the nature and amount of each Award. No individual shall have any right to be granted an Award pursuant to this Plan.

 4.3 Jurisdictions. In order to assure the viability of Awards granted to Participants employed in various
jurisdictions, the Committee may provide for such special terms as it may consider necessary or appropriate to accommodate differences in local law, tax policy, or custom applicable in the jurisdiction in which the Participant resides or is
employed. Moreover, the Committee may approve such supplements to, or amendments, restatements, or alternative versions of, the Plan as it may consider necessary or appropriate for such purposes without thereby affecting the terms of the Plan as in
effect for any other purpose; provided, however, that no such supplements, amendments, restatements, or alternative versions shall increase the share limitations contained in Section 3.1 of the Plan. Notwithstanding the foregoing, the
Committee may not take any actions hereunder, and no Awards shall be granted, that would violate any Applicable Laws. 
  

 6 

 ARTICLE 5 

OPTIONS 

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

(a) Exercise Price. The exercise price per Share subject to an Option shall be determined by the Committee and set forth in the
Award Agreement which may be a fixed or variable price related to the Fair Market Value of the Shares; provided, however, that no Option may be granted to an individual subject to taxation in the United States at less than the Fair Market Value on
the date of grant. To the extent not prohibited by Applicable Laws, the exercise price per Share subject to an Option may be amended or adjusted downward in the absolute discretion of the Committee, the determination of which shall be final, binding
and conclusive, without the approval of the Company’s shareholders or the affected Participants. 
 (b) Time and
Conditions of Exercise. The Committee shall determine the time or times at which an Option may be exercised in whole or in part, including exercise prior to vesting; provided that the term of any Option granted under the Plan shall not
exceed seven years, except as provided in Section 12.2. The Committee shall also determine any conditions, if any, that must be satisfied before all or part of an Option may be exercised. 

(c) Payment. The Committee shall determine the methods by which the exercise price of an Option may be paid, the form of payment,
including, without limitation (i) cash or check denominated in U.S. Dollars, (ii) cash or check in Chinese Renminbi, (iii) cash or check denominated in any other local currency as approved by the Committee, (iv) Shares held for
such period of time as may be required by the Committee in order to avoid adverse financial accounting consequences and having a Fair Market Value on the date of delivery equal to the aggregate exercise price of the Option or exercised portion
thereof, (v) after the Trading Date the delivery of a notice that the Participant has placed a market sell order with a broker with respect to Shares then issuable upon exercise of the Option, and that the broker has been directed to pay a
sufficient portion of the net proceeds of the sale to the Company in satisfaction of the Option exercise price; provided that payment of such proceeds is then made to the Company upon settlement of such sale), and the methods by which Shares
shall be delivered or deemed to be delivered to Participants (vi) other property acceptable to the Committee with a Fair Market Value equal to the exercise price, or (vii) any combination of the foregoing. Notwithstanding any other
provision of the Plan to the contrary, no Participant who is a member of the Board or an “executive officer” of the Company within the meaning of Section 13(k) of the Exchange Act shall be permitted to pay the exercise price of an
Option in any method which would violate Section 13(k) of the Exchange Act. 
 (d) Evidence of Grant. All Options
shall be evidenced by an Award Agreement between the Company and the Participant. The Award Agreement shall include such additional provisions as may be specified by the Committee. 

5.2 Incentive Share Options. Incentive Share Options shall be granted only to Employees of the Company, a Parent or Subsidiary of
the Company. Incentive Share Options may not be granted to Employees of a Related Entity. The terms of any Incentive Share Options granted pursuant to the Plan, in addition to the requirements of Section 5.1, must comply with the following
additional provisions of this Section 5.2: 
 (a) Expiration of Option. An Incentive Share Option may not be
exercised to any extent by anyone after the first to occur of the following events: 
 (i) Seven years from the date it is
granted, unless an earlier time is set in the Award Agreement; 
  

 7 

 (ii) Three months after the Participant’s termination of employment as an Employee;
and 
 (iii) One year after the date of the Participant’s termination of employment or service on account of Disability or
death. Upon the Participant’s Disability or death, any Incentive Share Options exercisable at the Participant’s Disability or death may be exercised by the Participant’s legal representative or representatives, by the person or
persons entitled to do so pursuant to the Participant’s last will and testament, or, if the Participant fails to make testamentary disposition of such Incentive Share Option or dies intestate, by the person or persons entitled to receive the
Incentive Share Option pursuant to the applicable laws of descent and distribution. 
 (b) Individual Dollar Limitation.
The aggregate Fair Market Value (determined as of the time the Option is granted) of all Shares with respect to which Incentive Share Options are first exercisable by a Participant in any calendar year may not exceed $100,000 or such other
limitation as imposed by Section 422(d) of the Code, or any successor provision. To the extent that Incentive Share Options are first exercisable by a Participant in excess of such limitation, the excess shall be considered Non-Qualified Share
Options. 
 (c) Ten Percent Owners. An Incentive Share Option shall be granted to any individual who, at the date of
grant, owns Shares possessing more than ten percent of the total combined voting power of all classes of shares of the Company only if such Option is granted at a price that is not less than 110% of Fair Market Value on the date of grant and the
Option is exercisable for no more than five years from the date of grant. 
 (d) Transfer Restriction. The Participant
shall give the Company prompt notice of any disposition of Shares acquired by exercise of an Incentive Share Option within (i) two years from the date of grant of such Incentive Share Option or (ii) one year after the transfer of such
Shares to the Participant. 
 (e) Expiration of Incentive Share Options. No Award of an Incentive Share Option may be
made pursuant to this Plan after the seventh anniversary of the Effective Date. 
 (f) Right to Exercise. During a
Participant’s lifetime, an Incentive Share Option may be exercised only by the Participant. 
  

 8 

 5.3 Substitution of Share Appreciation Rights. The Committee may provide in the Award
Agreement evidencing the grant of an Option that the Committee, in its sole discretion, shall have to right to substitute a Share Appreciation Right for such Option at any time prior to or upon exercise of such Option, provided that such Share
Appreciation Right shall be exercisable for the same number of shares of Share as such substituted Option would have been exercisable for. 

ARTICLE 6 

RESTRICTED SHARES 

6.1 Grant of Restricted Shares. The Committee is authorized to make Awards of Restricted Shares to any Participant selected by the
Committee in such amounts and subject to such terms and conditions as determined by the Committee. All Awards of Restricted Shares shall be evidenced by an Award Agreement. 

6.2 Issuance and Restrictions. Restricted Shares shall be subject to such restrictions on transferability and other restrictions
as the Committee may impose (including, without limitation, limitations on the right to vote Restricted Shares or the right to receive dividends on the Restricted Share). These restrictions may lapse separately or in combination at such times,
pursuant to such circumstances, in such installments, or otherwise, as the Committee determines at the time of the grant of the Award or thereafter. 

6.3 Forfeiture. Except as otherwise determined by the Committee at the time of the grant of the Award or thereafter, upon
termination of employment or service during the applicable restriction period, Restricted Shares that are at that time subject to restrictions shall be forfeited; provided, however, the Committee may (a) provide in any
Restricted Share Award Agreement that restrictions or forfeiture conditions relating to Restricted Shares will be waived in whole or in part in the event of terminations resulting from specified causes, and (b) in other cases waive in whole or
in part restrictions or forfeiture conditions relating to Restricted Shares. 
 6.4 Certificates for Restricted
Shares. Restricted Shares granted pursuant to the Plan may be evidenced in such manner as the Committee shall determine. If certificates representing Restricted Shares are registered in the name of the Participant, certificates must bear an
appropriate legend referring to the terms, conditions, and restrictions applicable to such Restricted Shares, and the Company may, at its discretion, retain physical possession of the certificate until such time as all applicable restrictions lapse.

  

 9 

 ARTICLE 7 

SHARE APPRECIATION RIGHTS 

7.1 Grant of Share Appreciation Rights. 

(a) A Share Appreciation Right may be granted to any Participant selected by the Committee. A Share Appreciation Right shall be subject
to such terms and conditions not inconsistent with the Plan as the Committee shall impose and shall be evidenced by an Award Agreement. 

(b) A Share Appreciation Right shall entitle the Participant (or other person entitled to exercise the Share Appreciation Right pursuant
to the Plan) to exercise all or a specified portion of the Share Appreciation Right (to the extent then exercisable pursuant to its terms) and to receive from the Company an amount determined by multiplying the difference obtained by subtracting the
exercise price per share of the Share Appreciation Right from the Fair Market Value of a Share on the date of exercise of the Share Appreciation Right by the number of Shares with respect to which the Share Appreciation Right shall have been
exercised, subject to any limitations the Committee may impose. 
 7.2 Payment and Limitations on Exercise. 

(a) Payment of the amounts determined under Section 7.1(b) above shall be in cash, in Shares (based on its Fair Market Value as of
the date the Share Appreciation Right is exercised) or a combination of both, as determined by the Committee in the Award Agreement. 

(b) To the extent any payment under Section 7.1(b) is effected in Shares it shall be made subject to satisfaction of all provisions
of Article 5 above pertaining to Options. 
 ARTICLE 8 

OTHER TYPES OF AWARDS 

8.1 Dividend Equivalents. Any Participant selected by the Committee may be granted Dividend Equivalents based on the dividends
declared on the Shares that are subject to any Award, to be credited as of dividend payment dates, during the period between the date the Award is granted and the date the Award is exercised, vests or expires, as determined by the Committee. Such
Dividend Equivalents shall be converted to cash or additional Shares by such formula and at such time and subject to such limitations as may be determined by the Committee. 

8.2 Share Payments. Any Participant selected by the Committee may receive Share Payments in the manner determined from time to
time by the Committee; provided, that unless otherwise determined by the Committee such Share Payments shall be made in lieu of base salary, bonus, or other cash compensation otherwise payable to such Participant. The number of shares shall
be determined by the Committee and may be based upon the Performance Criteria or other specific criteria determined appropriate by the Committee, determined on the date such Share Payment is made or on any date thereafter. 

 

 10 

 8.3 Deferred Shares. Any Participant selected by the Committee may be granted an
award of Deferred Shares in the manner determined from time to time by the Committee. The number of shares of Deferred Shares shall be determined by the Committee and may be linked to such specific criteria determined to be appropriate by the
Committee, in each case on a specified date or dates or over any period or periods determined by the Committee. Shares underlying a Deferred Share award will not be issued until the Deferred Share award has vested, pursuant to a vesting schedule or
criteria set by the Committee. Unless otherwise provided by the Committee, a Participant awarded Deferred Shares shall have no rights as a Company shareholder with respect to such Deferred Shares until such time as the Deferred Share Award has
vested and the Shares underlying the Deferred Share Award has been issued. 
 8.4 Restricted Share Units. The Committee
is authorized to make Awards of Restricted Share Units to any Participant selected by the Committee in such amounts and subject to such terms and conditions as determined by the Committee. At the time of grant, the Committee shall specify the date
or dates on which the Restricted Share Units shall become fully vested and nonforfeitable, and may specify such conditions to vesting as it deems appropriate. At the time of grant, the Committee shall specify the maturity date applicable to each
grant of Restricted Share Units which shall be no earlier than the vesting date or dates of the Award and may be determined at the election of the grantee. On the maturity date, the Company shall transfer to the Participant one unrestricted, fully
transferable Share for each Restricted Share Unit scheduled to be paid out on such date and not previously forfeited. The Committee shall specify the purchase price, if any, to be paid by the grantee to the Company for such Shares. 

8.5 Term. Except as otherwise provided herein, the term of any Award of Dividend Equivalents, Share Payments, Deferred Share, or
Restricted Share Units shall be set by the Committee in its discretion. 
 8.6 Exercise or Purchase Price. The Committee
may establish the exercise or purchase price, if any, of any Award of Deferred Share, Share Payments or Restricted Share Units; provided, however, that such price shall not be less than the par value of a Share, unless otherwise permitted by
Applicable Law. 
 8.7 Exercise Upon Termination of Employment or Service. An Award of Dividend Equivalents, Deferred
Share, Share Payments, and Restricted Share Units shall only be exercisable or payable while the Participant is an Employee, Consultant or a member of the Board, as applicable; provided, however, that the Committee in its sole and absolute
discretion may provide that an Award of Dividend Equivalents, Share Payments, Deferred Share, or Restricted Share Units may be exercised or paid subsequent to a termination of employment or service, as applicable, or following a Change of Control of
the Company, or because of the Participant’s retirement, death or Disability, or otherwise. 
 8.8 Form of Payment.
Payments with respect to any Awards granted under this Article 8 shall be made in cash, in Shares or a combination of both, as determined by the Committee. 

8.9 Award Agreement. All Awards under this Article 8 shall be subject to such additional terms and conditions as determined by the
Committee and shall be evidenced by an Award Agreement. 
  

 11 

 ARTICLE 9 

PROVISIONS APPLICABLE TO AWARDS 

9.1 Stand-Alone and Tandem Awards. Awards granted pursuant to the Plan may, in the discretion of the Committee, be granted either
alone, in addition to, or in tandem with, any other Award granted pursuant to the Plan. Awards granted in addition to or in tandem with other Awards may be granted either at the same time as or at a different time from the grant of such other
Awards. 
 9.2 Award Agreement. Awards under the Plan shall be evidenced by Award Agreements that set forth the terms,
conditions and limitations for each Award which may include the term of an Award, the provisions applicable in the event the Participant’s employment or service terminates, and the Company’s authority to unilaterally or bilaterally amend,
modify, suspend, cancel or rescind an Award. 
 9.3 Limits on Transfer. No right or interest of a Participant in any
Award may be pledged, encumbered, or hypothecated to or in favor of any party other than the Company or a Subsidiary, or shall be subject to any lien, obligation, or liability of such Participant to any other party other than the Company or a
Subsidiary. Except as otherwise provided by the Committee, no Award shall be assigned, transferred, or otherwise disposed of by a Participant other than by will or the laws of descent and distribution. The Committee by express provision in the Award
or an amendment thereto may permit an Award (other than an Incentive Share Option) to be transferred to, exercised by and paid to certain persons or entities related to the Participant, including but not limited to members of the Participant’s
family, charitable institutions, or trusts or other entities whose beneficiaries or beneficial owners are members of the Participant’s family and/or charitable institutions, or to such other persons or entities as may be expressly approved by
the Committee, pursuant to such conditions and procedures as the Committee may establish. Any permitted transfer shall be subject to the condition that the Committee receive evidence satisfactory to it that the transfer is being made for estate
and/or tax planning purposes (or to a “blind trust” in connection with the Participant’s termination of employment or service with the Company or a Subsidiary to assume a position with a governmental, charitable, educational or
similar non-profit institution) and on a basis consistent with the Company’s lawful issue of securities. 
 9.4
Beneficiaries. Notwithstanding Section 9.3, a Participant may, in the manner determined by the Committee, designate a beneficiary to exercise the rights of the Participant and to receive any distribution with respect to any Award upon
the Participant’s death. A beneficiary, legal guardian, legal representative, or other person claiming any rights pursuant to the Plan is subject to all terms and conditions of the Plan and any Award Agreement applicable to the Participant,
except to the extent the Plan and Award Agreement otherwise provide, and to any additional restrictions deemed necessary or appropriate by the Committee. If the Participant is married and resides in a community property state, a designation of a
person other than the Participant’s spouse as his or her beneficiary with respect to more than 50% of the Participant’s interest in the Award shall not be effective without the prior written consent of the Participant’s spouse. If no
beneficiary has been designated or survives the Participant, payment shall be made to the person entitled thereto pursuant to the Participant’s will or the laws of descent and distribution. Subject to the foregoing, a beneficiary designation
may be changed or revoked by a Participant at any time provided the change or revocation is filed with the Committee. 
  

 12 

 9.5 Share Certificates. Notwithstanding anything herein to the contrary, the Company
shall not be required to issue or deliver any certificates evidencing shares of Share pursuant to the exercise of any Award, unless and until the Board has determined, with advice of counsel, that the issuance and delivery of such certificates is in
compliance with all Applicable Laws, regulations of governmental authorities and, if applicable, the requirements of any exchange on which the Shares are listed or traded. All Share certificates delivered pursuant to the Plan are subject to any
stop-transfer orders and other restrictions as the Committee deems necessary or advisable to comply with federal, state, or foreign jurisdiction, securities or other laws, rules and regulations and the rules of any national securities exchange or
automated quotation system on which the Shares are listed, quoted, or traded. The Committee may place legends on any Share certificate to reference restrictions applicable to the Share. In addition to the terms and conditions provided herein, the
Board may require that a Participant make such reasonable covenants, agreements, and representations as the Board, in its discretion, deems advisable in order to comply with any such laws, regulations, or requirements. The Committee shall have the
right to require any Participant to comply with any timing or other restrictions with respect to the settlement or exercise of any Award, including a window-period limitation, as may be imposed in the discretion of the Committee. 

9.6 Paperless Administration. Subject to Applicable Laws, the Committee may make Awards, provide applicable disclosure and
procedures for exercise of Awards by an internet website or interactive voice response system for the paperless administration of Awards. 

9.7 Foreign Currency. A Participant may be required to provide evidence that any currency used to pay the exercise price of any
Award was acquired and taken out of the jurisdiction in which the Participant resides in accordance with Applicable Laws, including foreign exchange control laws and regulations. In the event the exercise price for an Award is paid in Chinese
Renminbi or other foreign currency, as permitted by the Committee, the amount payable will be determined by conversion from U.S. dollars at the official rate promulgated by the People’s Bank of China for Chinese Renminbi, or for jurisdictions
other than the PRC, the exchange rate as selected by the Committee on the date of exercise. 
 ARTICLE 10 

CHANGES IN CAPITAL STRUCTURE 

10.1 Adjustments. In the event of any dividend, share split, combination or exchange of Shares, amalgamation, arrangement or
consolidation, spin-off, recapitalization or other distribution (other than normal cash dividends) of Company assets to its shareholders, or any other change affecting the shares of Shares or the share price of a Share, the Committee shall make such
proportionate and equity adjustments, if any, as the Committee in its discretion may deem appropriate to reflect such change with respect to (a) the aggregate number and type of shares that may be issued under the Plan (including, but not
limited to, adjustments of the limitations in Section 3.1); (b) the terms and conditions of any outstanding Awards (including, without limitation, any applicable performance targets or criteria with respect thereto); and (c) the grant
or exercise price per share for any outstanding Awards under the Plan. 
  

 13 

 10.2 Acceleration upon a Change of Control. Except as may otherwise be provided in
any Award Agreement or any other written agreement entered into by and between the Company and a Participant, if a Change of Control occurs and a Participant’s Options, Restricted Share or Share Appreciation Rights settled in Shares are not
converted, assumed, or replaced by a successor, such Awards shall become fully exercisable and all forfeiture restrictions on such Awards shall lapse. Upon, or in anticipation of, a Change of Control, the Committee may in its sole discretion provide
for (i) any and all Awards outstanding hereunder to terminate at a specific time in the future and shall give each Participant the right to exercise such Awards during a period of time as the Committee shall determine, (ii) either the
purchase of any Award for an amount of cash equal to the amount that could have been attained upon the exercise of such Award or realization of the Participant’s rights had such Award been currently exercisable or payable or fully vested (and,
for the avoidance of doubt, if as of such date the Committee determines in good faith that no amount would have been attained upon the exercise of such Award or realization of the Participant’ s rights, then such Award may be terminated by the
Company without payment), (iii) the replacement of such Award with other rights or property selected by the Committee in its sole discretion the assumption of or substitution of such Award by the successor or surviving corporation, or a parent
or subsidiary thereof, with appropriate adjustments as to the number and kind of Shares and prices, or (iv) provide for payment of Awards in cash based on the value of Shares on the date of the Change of Control plus reasonable interest on the
Award through the date such Award would otherwise be vested or have been paid in accordance with its original terms, if necessary to comply with Section 409A of the Code. 

10.3 Outstanding Awards – Corporate Transactions. In the event of a Corporate Transaction, each Award will terminate upon the
consummation of the Corporate Transaction, unless the Award is assumed by the successor entity or Parent thereof in connection with the Corporate Transaction. Except as provided otherwise in an individual Award Agreement, in the event of a Corporate
Transaction and: 
 (a) the Award either is (x) assumed by the successor entity or Parent thereof or replaced with a
comparable Award (as determined by the Committee) with respect to shares of the capital stock of the successor entity or Parent thereof or (y) replaced with a cash incentive program of the successor entity which preserves the compensation
element of such Award existing at the time of the Corporate Transaction and provides for subsequent payout in accordance with the same vesting schedule applicable to such Award, then such Award (if assumed), the replacement Award (if replaced), or
the cash incentive program automatically shall become fully vested, exercisable and payable and be released from any restrictions on transfer (other than transfer restrictions applicable to Options) and repurchase or forfeiture rights, immediately
upon termination of the Participant’s employment or service with all Service Recipient within twelve (12) months of the Corporate Transaction without cause; and 

(b) For each Award that is neither assumed nor replaced, such portion of the Award shall automatically become fully vested and
exercisable and be released from any repurchase or forfeiture rights (other than repurchase rights exercisable at Fair Market Value) for all of the Shares at the time represented by such portion of the Award, immediately prior to the specified
effective date of such Corporate Transaction, provided that the Participant remains an Employee, Consultant or Director on the effective date of the Corporate Transaction. 
  

 14 

 10.4 Outstanding Awards – Other Changes. In the event of any other change in the
capitalization of the Company or corporate change other than those specifically referred to in this Article 10, the Committee may, in its absolute discretion, make such adjustments in the number and class of shares subject to Awards outstanding on
the date on which such change occurs and in the per share grant or exercise price of each Award as the Committee may consider appropriate to prevent dilution or enlargement of rights. 

10.5 No Other Rights. Except as expressly provided in the Plan, no Participant shall have any rights by reason of any subdivision
or consolidation of Shares of any class, the payment of any dividend, any increase or decrease in the number of shares of any class or any dissolution, liquidation, merger, or consolidation of the Company or any other corporation. Except as
expressly provided in the Plan or pursuant to action of the Committee under the Plan, no issuance by the Company of shares of any class, or securities convertible into shares of any class, shall affect, and no adjustment by reason thereof shall be
made with respect to, the number of shares subject to an Award or the grant or exercise price of any Award. 
 ARTICLE 11 

 ADMINISTRATION 

11.1 Committee. The Plan shall be administered by the Compensation Committee of the Board; provided, however that the Board
or the Compensation Committee may delegate to a committee of one or more members of the Board the authority to grant or amend Awards to Participants other than Independent Directors of the Company and such committee members themselves (such
committee being the “Committee”). Reference to the Committee shall refer to the Board if the Compensation Committee does not yet exist or ceases to exist and the Board does not appoint a successor Committee. Notwithstanding the foregoing,
the full Board, acting by majority of its members in office shall conduct the general administration of the Plan if required by Applicable Law, and with respect to Awards granted to Independent Directors and/or such Committee members and for
purposes of such Awards the term “Committee” as used in the Plan shall be deemed to refer to the Board. 
 11.2
Action by the Committee. A majority of the Committee shall constitute a quorum. The acts of a majority of the members present at any meeting at which a quorum is present, and acts approved in writing by a majority of the Committee in lieu of
a meeting, shall be deemed the acts of the Committee. Each member of the Committee is entitled to, in good faith, rely or act upon any report or other information furnished to that member by any officer or other employee of the Company or any
Subsidiary, the Company’s independent certified public accountants, or any executive compensation consultant or other professional retained by the Company to assist in the administration of the Plan. 

11.3 Authority of Committee. Subject to any specific designation in the Plan, the Committee has the exclusive power, authority and
discretion to: 
 (a) Designate Participants to receive Awards; 

 

 15 

 (b) Determine the type or types of Awards to be granted to each Participant; 

(c) Determine the number of Awards to be granted and the number of Shares to which an Award will relate; 

(d) Determine the terms and conditions of any Award granted pursuant to the Plan, including, but not limited to, the exercise price,
grant price, or purchase price, any restrictions or limitations on the Award, any schedule for lapse of forfeiture restrictions or restrictions on the exercisability of an Award, and accelerations or waivers thereof, any provisions related to
non-competition and recapture of gain on an Award, based in each case on such considerations as the Committee in its sole discretion determines; 

(e) Determine whether, to what extent, and pursuant to what circumstances an Award may be settled in, or the exercise price of an Award
may be paid in, cash, Shares, other Awards, or other property, or an Award may be canceled, forfeited, or surrendered; 
 (f)
Prescribe the form of each Award Agreement, which need not be identical for each Participant; 
 (g) Decide all other matters
that must be determined in connection with an Award, including, without limitation, cancel or redeem an outstanding Award (including but not limited to an outstanding Option with an exercise price exceeding the Fair Market Value of the underlying
shares), in exchange for cash, another Award or a combination of Awards, on terms and conditions the Committee determines and communicates to the holder of such outstanding Award; 

(h) Establish, adopt, or revise any rules and regulations as it may deem necessary or advisable to administer the Plan; 

(i) Interpret the terms of, and any matter arising pursuant to, the Plan or any Award Agreement; and 

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

ARTICLE 12 

EFFECTIVE AND EXPIRATION DATE 

12.1 Effective Date. The Plan is effective as of the date it is approved by the Board at a duly constituted Board meeting or via
unanimous written consent (the “Effective Date”), unless any applicable law or stock exchange rule requires otherwise. 
  

 16 

 12.2 Expiration Date. The Plan will expire on, and no Award may be granted pursuant
to the Plan after, the seventh anniversary of the Effective Date. Any Awards that are outstanding on the seventh anniversary of the Effective Date shall remain in force according to the terms of the Plan and the applicable Award Agreement.

 ARTICLE 13 

AMENDMENT, MODIFICATION, AND TERMINATION 

13.1 Amendment, Modification, And Termination. With the approval of the Board, at any time and from time to time, the Committee
may terminate, amend or modify the Plan; provided, however, that (a) to the extent necessary and desirable to comply with any applicable law, regulation, or stock exchange rule, the Company shall obtain shareholder approval of any Plan
amendment in such a manner and to such a degree as required, and (b) shareholder approval is required for any amendment to the Plan that (i) increases the number of Shares available under the Plan (other than any adjustment as provided by
Article 10), (ii) permits the Committee to grant Options with an exercise price that is below Fair Market Value on the date of grant, (iii) permits the Committee to extend the exercise period for an Option beyond seven years from the date
of grant, or (iv) results in a material increase in benefits or a change in eligibility requirements. 
 13.2 Awards
Previously Granted. Except with respect to amendments made pursuant to Section 14.14, no termination, amendment, or modification of the Plan shall adversely affect in any material way any Award previously granted pursuant to the Plan
without the prior written consent of the Participant. 
 ARTICLE 14 

GENERAL PROVISIONS 

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

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

 17 

 14.4 No Right to Employment or Services. Nothing in the Plan or any Award Agreement
shall interfere with or limit in any way the right of the Service Recipient to terminate any Participant’s employment or services at any time, nor confer upon any Participant any right to continue in the employ or service of any Service
Recipient. 
 14.5 Unfunded Status of Awards. The Plan is intended to be an “unfunded” plan for incentive
compensation. With respect to any payments not yet made to a Participant pursuant to an Award, nothing contained in the Plan or any Award Agreement shall give the Participant any rights that are greater than those of a general creditor of the
Company or any Subsidiary. 
 14.6 Indemnification. To the extent allowable pursuant to applicable law, each member of
the Committee or of the Board shall be indemnified and held harmless by the Company from any loss, cost, liability, or expense that may be imposed upon or reasonably incurred by such member in connection with or resulting from any claim, action,
suit, or proceeding to which he or she may be a party or in which he or she may be involved by reason of any action or failure to act pursuant to the Plan and against and from any and all amounts paid by him or her in satisfaction of judgment in
such action, suit, or proceeding against him or her; provided he or she gives the Company an opportunity, at its own expense, to handle and defend the same before he or she undertakes to handle and defend it on his or her own behalf. The
foregoing right of indemnification shall not be exclusive of any other rights of indemnification to which such persons may be entitled pursuant to the Company’s Memorandum of Association and Articles of Association,, as a matter of law, or
otherwise, or any power that the Company may have to indemnify them or hold them harmless. 
 14.7 Relationship to other
Benefits. No payment pursuant to the Plan shall be taken into account in determining any benefits pursuant to any pension, retirement, savings, profit sharing, group insurance, welfare or other benefit plan of the Company or any Subsidiary
except to the extent otherwise expressly provided in writing in such other plan or an agreement thereunder. 
 14.8
Expenses. The expenses of administering the Plan shall be borne by the Company and its Subsidiaries. 
  

 18 

 14.9 Titles and Headings. The titles and headings of the Sections in the Plan are for
convenience of reference only and, in the event of any conflict, the text of the Plan, rather than such titles or headings, shall control. 

14.10 Fractional Shares. No fractional shares of Share shall be issued and the Committee shall determine, in its discretion,
whether cash shall be given in lieu of fractional shares or whether such fractional shares shall be eliminated by rounding up or down as appropriate. 

14.11 Government and Other Regulations. The obligation of the Company to make payment of awards in Share or otherwise shall be
subject to all Applicable Laws, rules, and regulations, and to such approvals by government agencies as may be required. The Company shall be under no obligation to register any of the Shares paid pursuant to the Plan under the Securities Act or any
other similar law in any applicable jurisdiction. If the Shares paid pursuant to the Plan may in certain circumstances be exempt from registration pursuant to the Securities Actor other Applicable Laws the Company may restrict the transfer of such
shares in such manner as it deems advisable to ensure the availability of any such exemption. 
 14.12 Governing Law. The
Plan and all Award Agreements shall be construed in accordance with and governed by the laws of the Cayman Islands. 
 14.13
Section 409A. To the extent that the Committee determines that any Award granted under the Plan is or may become subject to Section 409A of the Code, the Award Agreement evidencing such Award shall incorporate the terms and
conditions required by Section 409A of the Code. To the extent applicable, the Plan and the Award Agreements shall be interpreted in accordance with Section 409A of the Code and the U.S. Department of Treasury regulations and other
interpretative guidance issued thereunder, including without limitation any such regulation r or other guidance that may be issued after the Effective Date. Notwithstanding any provision of the Plan to the contrary, in the event that following the
Effective Date the Committee determines that any Award may be subject to Section 409A of the Code and related Department of Treasury guidance (including such Department of Treasury guidance as may be issued after the Effective Date), the
Committee may adopt such amendments to the Plan and the applicable Award agreement or adopt other policies and procedures (including amendments, policies and procedures with retroactive effect), or take any other actions, that the Committee
determines is necessary or appropriate to (a) exempt the Award from Section 409A of the Code and /or preserve the intended tax treatment of the benefits provided with respect to the Award, or (b) comply with the requirements of
Section 409A of the Code and related U.S. Department of Treasury guidance. 
 14.14 Appendices. The Committee may
approve such supplements, amendments or appendices to the Plan as it may consider necessary or appropriate for purposes of compliance with applicable laws or otherwise and such supplements, amendments or appendices shall be considered a part of the
Plan; provided, however, that no such supplements shall increase the share limitations contained in Sections 3.1 and 3.3 of the Plan. 
  

 19

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