Document:

EX-10.84

 Exhibit 10.84 

EMPLOYMENT AGREEMENT 
 EMPLOYMENT
AGREEMENT, effective as of January 1, 2018, by and between Sohu.com Inc., a Delaware corporation, and Charles Zhang, an individual (the “Employee”). 

1. Definitions. Capitalized terms used herein and not otherwise defined in the text below will have the meanings ascribed thereto on
Annex 1. 
 2. Employment; Duties. 

(a) The Company agrees to employ the Employee in the capacity and with such responsibilities as are generally set forth on Annex 2.

 (b) The Employee hereby agrees to devote his full time and best efforts in such capacities as are set forth on Annex 2 on the terms
and conditions set forth herein. Notwithstanding the foregoing, the Employee may engage in other activities, such as activities involving professional, charitable, educational, religious and similar types of organizations, provided the Employee
complies with the Employee Non-competition, Non-solicitation, Confidential Information and Work Product Agreement effective as of January 1, 2018 that is attached
hereto as Annex 3 (the “Employee Obligations Agreement”) and such other activities do not interfere with or prohibit the performance of the Employee’s duties under this Agreement, or conflict in any material way
with the business of the Company or of its subsidiaries and affiliates. The provisions of the Employee Obligations Agreement between the Company and the Employee that was in effect prior to January 1, 2018 (the “Prior Employee Obligations
Agreement”) will continue in full force and effect with respect to all matters arising with respect to periods through December 31, 2017. The Employee Obligations Agreement effective as of January 1, 2018 and will be in full force and
effect on and after such date. 
 (c) The Employee will use best efforts during the Term to ensure that the Company’s business and the
businesses of its subsidiaries and affiliates are conducted in accordance with all applicable laws and regulations of all jurisdictions in which such businesses are conducted. 

3. Compensation. 
 (a)
Base Annual Income. During the Term, the Company will pay the Employee an annual base salary as set forth on Annex 2, payable monthly pursuant to the Company’s normal payroll practices. 

(b) Discretionary Bonus. During the Term, the Company, in its sole discretion, may award to the Employee an annual bonus based on the
Employee’s performance and other factors deemed relevant by the Company’s Board of Directors. 

  
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 (c) Stock Options and Other Equity Incentives. The Employee will be eligible to
participate in any stock option or other equity incentive programs available to officers or employees of the Company. 
 (d) Reimbursement
of Expenses. The Company will reimburse the Employee for reasonable expenses incurred by the Employee in the course of, and necessary in connection with, the performance by the Employee of his duties to the Company, provided that such expenses
are substantiated in accordance with the Company’s policies. 
 4. Other Employee Benefits. 

(a) Vacation; Sick Leave. The Employee will be entitled to such number of weeks of paid vacation each year as are set forth on Annex
2, the taking of which must be in accordance with the Company’s standard vacation policy. Unless otherwise approved by the Company’s Board of Directors, vacation that is not used in a particular year may only be carried forward to
subsequent years in accordance with the Company’s policies in effect from time to time. The Employee will be eligible for sick leave in accordance with the Company’s policies in effect from time to time. 

(b) Healthcare Plan. The Company will arrange for membership in the Company’s group healthcare plan for the Employee, the
Employee’s spouse and, if applicable, the Employee’s children under 18 years old, in accordance with the Company’s standard policies from time to time with respect to health insurance and in accordance with the rules established for
individual participation in such plan and under applicable law. 
 (c) Life and Disability Insurance. The Company will provide term
life and disability insurance payable to the Employee, in each case initially in a maximum amount of RMB2,000,000, but subject to adjustment from time to time, provided however, that such amount will be reduced by the amount of any life insurance or
death or disability benefit coverage, as applicable, that is provided to the Employee under any other benefit plans or arrangements of the Company. Such policies will be in accordance with the Company’s standard policies from time to time with
respect to such insurance and the rules established for individual participation in such plans and under applicable law. 
 (d) Other
Benefits. Pursuant to the Company’s policies in effect from time to time and the applicable plan rules, the Employee will be eligible to participate in other employee benefit plans of general application, which may include, without
limitation, housing allowance or reimbursement, tuition fees for the Employee’s children, if any, at an international school and tax equalization, which shall, in any event, include benefits at the levels set forth on Annex 2. 

5. Certain Representations, Warranties and Covenants of the Employee. 

(a) Related Company Positions. The Employee agrees that the Employee and members of the Employee’s immediate family will not have
any financial interest directly or indirectly (including through any entity in which the Employee or any member of the Employee’s immediate family has a position or financial interest) in any transactions with the Company or any subsidiaries or
affiliates thereof unless all such transactions, prior to being entered into, have been disclosed to the Board of Directors and approved by a majority of the independent members of the Board of Directors and comply with all other Company policies
and applicable law as may be in effect from time to time. The Employee also agrees that he will inform the Board of Directors of the Company of any transactions involving the Company or any of its subsidiaries or affiliates in which senior officers,
including but not limited to the Employee, or their immediate family members have a financial interest. 

  
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 (b) Discounts, Rebates or Commissions. Unless expressly permitted by written policies and
procedures of the Company in effect from time to time that may be applicable to the Employee, neither the Employee nor any immediate family member will be entitled to receive or obtain directly or indirectly any discount, rebate or commission in
respect of any sale or purchase of goods or services effected or other business transacted (whether or not by the Employee) by or on behalf of the Company or any of its subsidiaries or affiliates, and if the Employee or any immediate family member
(or any firm or company in which the Employee or any immediate family member is interested) obtains any such discount, rebate or commission, the Employee will pay to the Company an amount equal to the amount so received (or the proportionate amount
received by any such firm or company to the extent of the Employee’s or family member’s interest therein). 
 6. Term;
Termination. 
 (a) Unless sooner terminated pursuant to the provisions of this Section 6, the term of this Agreement (the
“Term”) will commence on the date hereof and end on December 31, 2020. 
 (b) Voluntary Termination by the Employee.
Notwithstanding anything herein to the contrary, the Employee may voluntarily Terminate this Agreement by providing the Company with ninety (90) days’ advance written notice (“Voluntary Termination”), in which case, the
Employee will not be entitled to receive payment of any severance benefits or other amounts by reason of the Termination other than accrued salary and vacation through the date of the Termination. The Employee’s right to all other benefits will
terminate as of the date of Termination, other than any continuation required by applicable law. Without limiting the foregoing, if, in connection with a Change in Control, the surviving entity or successor to Sohu’s business offers the
Employee employment on substantially equivalent terms to those set forth in this Agreement and such offer is not accepted by the Employee, the refusal by the Employee to accept such offer and the subsequent termination of the Employee’s
employment by the Company shall be deemed to be a voluntary termination of employment by the Employee and shall not be treated as a termination by the Company without Cause. 

(c) Termination by the Company for Cause. Notwithstanding anything herein to the contrary, the Company may Terminate this Agreement for
Cause by written notice to the Employee, effective immediately upon the delivery of such notice. In such case, the Employee will not be entitled to receive payment of any severance benefits or other amounts by reason of the Termination other than
accrued salary and vacation through the date of the Termination. The Employee’s right to all other benefits will terminate, other than any continuation required by applicable law. 

  
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 (d) Termination by the Employee with Good Reason or Termination by the Company without
Cause. Notwithstanding anything herein to the contrary, the Employee may Terminate this Agreement for Good Reason, and the Company may Terminate this Agreement without Cause, in either case upon thirty (30) days’ advance written notice
by the party Terminating this Agreement to the other party and the Termination shall be effective as of the expiration of such thirty (30) day period. If the Employee Terminates with Good Reason or the Company Terminates without Cause, the
Employee will be entitled to continue to receive payment of severance benefits equal to the Employee’s monthly base salary in effect on the date of Termination for the shorter of (i) six (6) months and (ii) the remainder of the Term
of this Agreement (the “Severance Period”), provided that the Employee complies with the Employee Obligations Agreement during the Severance Period and executes a release agreement in the form requested by the Company at the time of
such Termination that releases the Company from any and all claims arising from or related to the employment relationship and/or such Termination. Such payments will be made ratably over the Severance Period according to the Company’s standard
payroll schedule. The Employee will also receive payment of the bonus for the remainder of the year of the Termination, but only to the extent that the bonus would have been earned had the Employee continued in employment through the end of such
year, as determined in good faith by the Company’s, Board of Directors or its Compensation Committee based on the specific corporate and individual performance targets established for such fiscal year, and only to the extent that bonuses are
paid for such fiscal year to other similarly situated employees. Health insurance benefits with the same coverage (e.g., medical, dental, optical and mental health coverage) provided to the Employee prior to the Termination and in all other material
respects comparable to those in place immediately prior to the Termination will be provided at the Company’s expense during the Severance Period. The Company will also continue to carry the Employee on its Directors and Officers insurance
policy for six (6) years following the Date of Termination at the Company’s expense with respect to insurable events which occurred during the Employee’s term as a director or officer of the Company, with such coverage being at least
comparable to that in effect immediately prior to the Termination Date; provided, however, that (i) such terms, conditions and exceptions will not be, in the aggregate, materially less favorable to the Employee than those in effect on the
Termination Date and (ii) if the aggregate annual premiums for such insurance at any time during such period exceed two hundred percent (200%) of the per annum rate of premium currently paid by the Company for such insurance, then the Company
will provide the maximum coverage that is then available at an annual premium equal to two hundred percent (200%) of such rate. 

  
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 (e) Termination by Reason of Death or Disability. A Termination of the Employee’s
employment by reason of death or Disability shall not be deemed to be a Termination by the Company (for or without Cause) or by the Employee (for or without Good Reason). In the event that the Employee’s employment with the Company Terminates
as a result of the Employee’s death or Disability, the Employee or the Employee’s estate or representative, as applicable, will receive all accrued salary and accrued vacation as of the date of the Employee’s death or Disability and
any other benefits payable under the Company’s then existing benefit plans and policies in accordance with such plans and policies in effect on the date of death or Disability and in accordance with applicable law. In addition, the Employee or
the Employee’s estate or representative, as applicable, will receive the bonus for the year in which the death or Disability occurs to the extent that a bonus would have been earned had the Employee continued in employment through the end of
such year, as determined in good faith by the Company’s Board of Directors or its Compensation Committee based on the specific corporate and individual performance targets established for such fiscal year, and only to the extent that bonuses
are paid for such fiscal year to other similarly situated employees. 
 (f) Misconduct After Termination of Employment.
Notwithstanding the foregoing, if the Employee after the termination of his employment violates or fails to fully comply with the Employee Obligations Agreement, thereafter (i) the Employee shall not be entitled to any payments from the
Company, (ii) any insurance or other benefits that have continued shall terminate immediately, (iii) the Employee shall promptly reimburse to the Company all amounts that have been paid to the Employee pursuant to this Section 6; and
(iv) if the Employee would not, in the absence of such violation or failure to comply, have been entitled to severance payments from the Company equal to at least six (6) months’ base salary, the Employee shall pay to the Company an amount
equal to the difference between six (6) months’ base salary and the amount of severance pay measured by base salary reimbursed to the Company by the Employee pursuant to clause (iii) of this sentence. 

7. Equity-Based Compensation-Related Provisions. 

(a) Termination by the Company Without Cause after a Change in Control. If Company Terminates this Agreement without Cause within twelve
(12) months following a Change in Control, the vesting and exercisability of each of the Employee’s outstanding stock options or other equity-based incentive awards (“Awards”) will accelerate such that the Award will
become fully vested and exercisable upon the effectiveness of the Termination, and any repurchase right of the Company with respect to shares of stock or other equity issued upon exercise of the Award will completely lapse, in each case subject to
paragraph (c) below (“Forfeiture of Options for Misconduct”). 
 (b) Termination other than by the Company Without
Cause after a Change in Control. If the Employee’s employment with the Company Terminates for any reason, unless the Company Terminates this Agreement without Cause within twelve (12) months following a Change in Control, the vesting
and exercisability of each of the Employee’s outstanding Awards shall cease upon the effectiveness of the Termination, such that any unvested Award shall be cancelled. 

  
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 (c) Forfeiture of Options for Misconduct. If the Employee fails to comply with the terms
of this Agreement, the Employee Obligations Agreement, or the written policies and procedures of the Company, as the same may be amended from time to time, or acts against the specific instructions of the Board of Directors of the Company or if this
Agreement is terminated by the Company for Cause (each a “Penalty Breach”), the Employee will forfeit any Awards that have been granted to him or to which the Employee may be entitled, whether the same are then vested or not, and
the same shall thereafter not be exercisable at all, and all shares of common stock of the Company, if any, purchased by the Employee pursuant to the exercise of Awards and still then owned by the Employee may be repurchased by the Company, at its
sole discretion, at the price paid by the Employee for such shares of common stock. The terms of all outstanding option grants are hereby amended to conform with this provision. 

8. Employee Obligations Agreement. By signing this Agreement, the Employee hereby agrees to execute and deliver to the Company the
Employee Obligations Agreement, and such execution and delivery shall be a condition to the Employee’s entitlement to his rights under this Agreement. 

9. Governing Law; Resolution of Disputes. This Agreement will be governed by and construed and enforced in accordance with the laws of
the State of New York if the Employee is not a citizen of the People’s Republic of China (the “PRC”), and in accordance with the laws of the PRC if the Employee is a citizen of the PRC, in each case exclusive of such
jurisdiction’s principles of conflicts of law. If, under the applicable law, any portion of this Agreement is at any time deemed to be in conflict with any applicable statute, rule, regulation or ordinance, such portion will be deemed to be
modified or altered to conform thereto or, if that is not possible, to be omitted from this Agreement; the invalidity of any such portion will not affect the force, effect and validity of the remaining portion hereof. Each of the parties hereto
irrevocably agrees that any dispute or controversy arising out of, relating to, or concerning any interpretation, construction, performance or breach of this Agreement, shall be settled by arbitration to be held in Hong Kong under the Hong Kong
International Arbitration Centre Administered Arbitration Rules (the “Arbitration Rules”) in force when a Notice of Arbitration with respect thereto is submitted in accordance with the Arbitration Rules. There shall be one arbitrator,
selected in accordance with the Arbitration Rules. The decision of the arbitrator shall be final, conclusive and binding on the parties to the arbitration. Judgment may be entered on the arbitrator’s decision in any court having jurisdiction.
The parties to the arbitration shall each pay an equal share of the costs and expenses of such arbitration, and each party shall separately pay for its respective counsel fees and expenses; provided, however, that the prevailing party in any such
arbitration shall be entitled to recover from the non-prevailing party its reasonable costs and attorney fees. 

  
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 10. Notices. All notices, requests and other communications under this Agreement must be
in writing (including email or similar writing and express mail or courier delivery or in person delivery, but excluding ordinary mail delivery) and given to the address stated below: 

 

	 	(a)	if to the Employee, to the address or email address that is on file with the Company from time to time, as may be updated by the Employee; 

 

	 	(b)	if to the Company, to: 

 Sohu.com Inc. 

Level 18, Sohu.com Media Plaza 

Block 3, No. 2 Kexueyuan South Road, Haidian District Beijing 100190 

People’s Republic of China 

Attention: Joanna Lv 

                 Acting Chief Financial Officer 

                 Email:
joannalu@sohu-inc.com 
 with a copy to: 

Goulston & Storrs 
 400
Atlantic Avenue 
 Boston, MA 02110 

Attention: Tim Bancroft 

                 Email: tbancroft@goulstonstorrs.com 

or to such other address or email address as either party may hereafter specify for the purpose by written notice to the other party in the manner provided in
this Section 10. All such notices, requests and other communications will be deemed received: (i) if given by email, when transmitted to the email address specified in this Section 10 if confirmation of receipt is received;
(ii) if given by express mail or courier delivery, when delivered; and (iii) if given in person, when delivered. 
 11.
Miscellaneous. 
 (a) Entire Agreement. This Agreement, together with the Employee Obligations Agreement, constitutes the
entire understanding between the Company and the Employee relating to the subject matter hereof on and after January 1, 2018 and supersedes and cancels all prior and contemporaneous written and oral agreements and understandings with respect to
the subject matter of this Agreement. No agreements or representations, oral or otherwise, express or implied, with respect to the subject matter hereof have been made by either party which are not set forth expressly in this Agreement. 

(b) Modification; Waiver. No provision of this Agreement may be modified, waived or discharged unless modification, waiver or discharge
is agreed to in writing signed by the Employee and such officer of the Company as may be specifically designated by its Board of Directors. No waiver by either party at any time of any breach by the other party of, or compliance with, any condition
or provision of this Agreement to be performed by such other party will be deemed a waiver of similar or dissimilar provisions or conditions at the same or at any prior or subsequent time. 

  
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 (c) Successors; Binding Agreement. This Agreement will be binding upon and will inure to
the benefit of the Employee, the Employee’s heirs, executors, administrators and beneficiaries, and the Company and its successors (whether direct or indirect, by purchase, merger, consolidation or otherwise), subject to the terms and
conditions set forth herein. 
 (d) Withholding Taxes. All amounts payable to the Employee under this Agreement will be subject to
applicable withholding of income, wage and other taxes to the extent required by applicable law. 
 (e) Validity. The invalidity or
unenforceability of any provision or provisions of this Agreement will not affect the validity or enforceability of any other provision of this Agreement, which will remain in full force and effect. 

(f) Language. This Agreement is written in the English language only. The English language also will be the controlling language for all
future communications between the parties hereto concerning this Agreement. 
 (g) Counterparts. This Agreement may be signed in any
number of counterparts, each of which will be deemed an original, with the same effect as if the signatures thereto and hereto were upon the same instrument. 

[SIGNATURE PAGE FOLLOWS] 

  
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 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first written
above. 
  

							
	Signature of Employee:	 		 	Sohu.com Inc.
			
	  
	 	By:	 	  

		 		 		 	Name: Joanna Lv
	Printed name of employee:	 		 		 	Title: Acting Chief Financial Officer
				
	Charles Zhang                	 		 		 	

 Annex 1 

Certain Definitions 
 “Cause”
means: 
  

	 	(i)	willful misconduct or gross negligence by the Employee, or any willful or grossly negligent omission to perform any act, resulting in injury to the Company or any subsidiaries or affiliates thereof; 

 

	 	(ii)	misconduct or negligence of the Employee that results in gain or personal enrichment of the Employee to the detriment of the Company or any subsidiaries or affiliates thereof; 

 

	 	(iii)	breach of any of the Employee’s agreements with the Company, including those set forth herein and in the Employee Obligations Agreement, and including, but not limited to, the repeated failure to perform
substantially the Employee’s duties to the Company or any subsidiaries or affiliates thereof, excessive absenteeism or dishonesty; 

  

	 	(iv)	any attempt by the Employee to assign or delegate this Agreement or any of the rights, duties, responsibilities, privileges or obligations hereunder without the prior approval of the Board of Directors of the Company
(except in respect of any delegation by the Employee of his employment duties hereunder to other employees of the Company in accordance with its usual business practice); 

 

	 	(v)	the Employee’s indictment or conviction for, or confession of, a felony or any crime involving moral turpitude under the laws of the United States or any State thereof, or under the laws of China, or Hong Kong;

  

	 	(vi)	declaration by a court that the Employee is insane or incompetent to manage his business affairs; 

  

	 	(vii)	habitual drug or alcohol abuse which materially impairs the Employee’s ability to perform his duties; or 

  

	 	(viii)	filing of any petition or other proceeding seeking to find the Employee bankrupt or insolvent. 

  
 (i) 

 “Change in Control” means the occurrence of any of the following events: 

 

	 	(i)	any person (within the meaning of Section 13(d) or Section 14(d)(2) of the Securities Exchange Act of 1934) other than the Company, any trustee or other fiduciary holding securities under an employee benefit
plan of the Company or any corporation owned, directly or indirectly, by the stockholders of the Company in substantially the same proportion as their ownership of stock of the Company, becomes the direct or beneficial owner of securities
representing fifty percent (50%) or more of the combined voting power of the Company’s then-outstanding securities; 

  

	 	(ii)	during any period of two (2) consecutive years after the date of this Agreement, individuals who at the beginning of such period constitute the Board of Directors of the Company, and all new directors (other than
directors designated by a person who has entered into an agreement with the Company to effect a transaction described in (i), (iii), or (iv) of this definition) whose election or nomination to the Board was approved by a vote of at least two-thirds of the directors then in office, cease for any reason to constitute at least a majority of the members of the Board; 

  

	 	(iii)	the effective date of a merger or consolidation of the Company with any other entity, other than a merger or consolidation which would result in the voting securities of the Company outstanding immediately prior to such
merger or consolidation continuing to represent (either by remaining outstanding or by being converted into voting securities of the surviving entity) more than 50% of the combined voting power of the voting securities of the surviving entity
outstanding immediately after such merger or consolidation and with the power to elect at least a majority of the board of directors or other governing body of such surviving entity; 

 

	 	(iv)	the complete liquidation of the Company or the sale or disposition by the Company of all or substantially all of the Company’s assets; or 

 

	 	(v)	there occurs any other event of a nature that would be required to be reported in response to Item 6(e) of Schedule 14A of Regulation 14A (or a response to any similar item on any similar schedule or form) promulgated
under the Exchange Act (as defined below), whether or not the Company is then subject to such reporting requirement. 

 “Company”
means Sohu.com Inc and, unless the context suggests to the contrary, all of its subsidiaries and related companies. 

  
 (ii) 

 “Disability” means the Employee becomes physically or mentally impaired to an extent which renders him
unable to perform the essential functions of his job, with or without reasonable accommodation, for a period of six consecutive months, or an aggregate of nine months in any two year period. 

“Good Reason” means the occurrence of any of the following events without the Employee’s express written consent, provided that the Employee
has given notice to the Company of such event and the Company has not remedied the problem within fifteen (15) days: 
  

	 	(i)	any significant change in the duties and responsibilities of the Employee inconsistent in any material and adverse respect with the Employee’s title and position (including status, officer positions and reporting
requirements), authority, duties or responsibilities as contemplated by Annex 2 to this Agreement. For the purposes of this Agreement, because of the evolving nature of the Employer’s business, the Company’s changing of
Employee’s reporting relationships and department(s) will not be considered a significant change in duties and responsibilities; 

  

	 	(ii)	any material breach by the Company of this Agreement, including without limitation any reduction of the Employee’s base salary or the Company’s failure to pay to the Employee any portion of the Employee’s
compensation; or 

  

	 	(iii)	the failure, in the event of a Change in Control in which the Company is not the surviving entity, of the surviving entity or the successor to the Company’s business to assume this Agreement pursuant to its terms
or to offer the Employee employment on substantially equivalent terms to those set forth in this Agreement. 

 “Termination” (and
any similar, capitalized use of the term, such as “Terminate”) means, according to the context, the termination of this Agreement or the Employee’s ceasing to render employment services. 

  
 (iii) 

 Annex 2 

Particular Terms of Employee’s Employment 

Title(s): Chief Executive Officer 
  

			
	Reporting Requirement:	  	The Employee will report to the Company’s Board of Directors.
		
	Responsibilities:	  	Such duties and responsibilities as are ordinarily associated with the Employee’s title(s) in a United States publicly-traded corporation and such other duties as may be specified by the Board of Directors from time to
time.

  

	Base	Salary: RMB4,000,000 per year or as adjusted by the Board of Directors from time to time. 

 # of Weeks
of Paid Vacation per Year: Three (3) 
 Other Benefits: 

Annual housing allowance of RMB2,000,000 per year 
 Tax
equalization on salary and bonus to 15%. 
 Health, life and disability insurance and tuition fees for the Employee’s children, if any, as per company
policy. 
 Bonus as specifically approved each year. 

 Annex 3 

FORM OF EMPLOYEE NON-COMPETITION, NON-SOLICITATION, 

CONFIDENTIAL INFORMATION AND WORK PRODUCT AGREEMENT 

In consideration of my employment and the compensation paid to me by Sohu.com Inc., a Delaware corporation, or a subsidiary or other affiliate
or related company thereof (Sohu.com Inc. or any such subsidiary or related company or other affiliate referred to herein individually and collectively as “SOHU”), and for other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, I agree as follows: 
 1. Non-Competition.
During my employment with SOHU and continuing after the termination of my employment for the longer of (i) one year after the termination of my employment with SOHU for any reason and (ii) such period of time as SOHU is paying to me any
severance benefits, (the “Noncompete Period”), I will not, on my own behalf, or as owner, manager, stockholder (other than as stockholder of less than 2% of the outstanding stock of a company that is publicly traded or listed on a
stock exchange), consultant, director, officer or employee of or in any other manner connected with any business entity, participate or be involved in any Competitor without the prior written authorization of the Board of Directors of SOHU.
“Competitor” means any business of the type and character of business in which SOHU engages or proposes to engage and may include, without limitation, an individual, company, enterprise, partnership enterprise, government office,
committee, social organization or other organization that, in any event, produces, distributes or provides the same or substantially similar kind of product or service as SOHU. On the date of this Employee
Non-competition, Non-solicitation, Confidential Information and Work Product Agreement (this “Agreement”), “Competitors” include without
limitation: Tencent, Sina, NetEase, Phoenix, Autohome, BitAuto, Youku Tudou, iQiyi, SouFun , Leju, YY, Baidu, Qihoo, Alibaba, Cheetah, IFLYTEK, TouTiao, UCWeb, Google, Shanda, Perfect World, Giant, Kalends Inc., iDreamsky Technology Ltd., NetDragon,
Kingsoft, Yahoo, Microsoft, Facebook, and Twitter. Such list may be updated by the Company from time to time so that it is consistent with the list of competitors disclosed in the Company’s quarterly reports on Form 10-Q or annual reports on Form 10-K filed with the U.S. Securities and Exchange Commission. 

2. Nonsolicitation. During the Noncompete Period, I will not, either for my own account or for the account of any other person:
(i) solicit, induce, attempt to hire, or hire any employee or contractor of SOHU or any other person who may have been employed or engaged by SOHU during the term of my employment with SOHU unless that person has not worked with SOHU within the
six months following my last day of employment with SOHU; (ii) solicit business or relationship in competition with SOHU from any of SOHU’s customers, suppliers or partners or any other entity with which SOHU does business;
(iii) assist in such hiring or solicitation by any other person or business entity or encourage any such employee to terminate his employment with SOHU; or (iv) encourage any such customer, supplier or partner or any other entity to
terminate its relationship with SOHU. 

  
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 3. Confidential Information. 

(a) While employed by SOHU and indefinitely thereafter, I will not, directly or indirectly, use any Confidential Information (as hereinafter
defined) other than pursuant to my employment by and for the benefit of SOHU, or disclose any such Confidential Information to anyone outside of SOHU or to anyone within SOHU who has not been authorized to receive such information, except as
directed in writing by an authorized representative of SOHU. 
 (b) “Confidential Information” means all trade secrets,
proprietary information, and other data and information, in any form, belonging to SOHU or any of their respective clients, customers, consultants, licensees or affiliates that is held in confidence by SOHU. Confidential Information includes, but is
not limited to computer software, the structure of SOHU’s online directories and search engines, business plans and arrangements, customer lists, marketing materials, financial information, research, and any other information identified or
treated as confidential by SOHU or any of their respective clients, customer, consultants, licensees or affiliates. Notwithstanding the foregoing, Confidential Information does not include information which SOHU has voluntarily disclosed to the
public without restriction, or which is otherwise known to the public at large. 
 4. Rights in Work Product. 

(a) I agree that all Work Product (as hereinafter defined) will be the sole property of SOHU. I agree that all Work Product that constitutes
original works of authorship protectable by copyright are “works made for hire,” as that term is defined in the United States Copyright Act and, therefore, the property of SOHU. I agree to waive, and hereby waive and irrevocably and
exclusively assign to SOHU, all right, title and interest I may have in or to any other Work Product and, to the extent that such rights may not be waived or assigned, I agree not to assert such rights against SOHU or its licensees (and
sublicensees), successors or assigns. 
 (b) I agree to promptly disclose all Work Product to the appropriate individuals in SOHU as such
Work Product is created in accordance with the requirements of my job and as directed by SOHU. 
 (c) “Work Product” means
any and all inventions, improvements, developments, concepts, ideas, expressions, processes, prototypes, plans, drawings, designs, models, formulations, specifications, methods, techniques, shop-practices, discoveries, innovations, creations,
technologies, formulas, algorithms, data, computer databases, reports, laboratory notebooks, papers, writings, photographs, source and object codes, software programs, other works of authorship, and know-how
and show-how, or parts thereof conceived, developed, or otherwise made by me alone or jointly with others (i) during the period of my employment with SOHU or (ii) during the six month period next
succeeding the termination of my employment with SOHU if the same in any way relates to the present or proposed products, programs or services of SOHU or to tasks assigned to me during the course of my employment, whether or not patentable or
subject to copyright or trademark protection, whether or not reduced to tangible form or reduced to practice, whether or not made during my regular working hours, and whether or not made on SOHU premises. 

  
 -2- 

 5. Employee’s Prior Obligations. I hereby certify I have no continuing obligation to
any previous employer or other person or entity which requires me not to disclose any information to SOHU. 
 6. Employee’s
Obligation to Cooperate. At any time during my employment with SOHU and thereafter upon the request of SOHU, I will execute all documents and perform all lawful acts that SOHU considers necessary or advisable to secure its rights hereunder and
to carry out the intent of this Agreement. Without limiting the generality of the foregoing, I agree to render to SOHU or its nominee all reasonable assistance as may be required: 

 

	 	(a)	In the prosecution or applications for letters patent, foreign and domestic, or re-issues, extensions and continuations thereof; 

 

	 	(b)	In the prosecution or defense of interferences which may be declared involving any of said applications or patents; 

  

	 	(c)	In any administrative proceeding or litigation in which SOHU may be involved relating to any Work Product; and 

  

	 	(d)	In the execution of documents and the taking of all other lawful acts which SOHU considers necessary or advisable in creating and protecting its copyright, patent, trademark, trade secret and other proprietary rights in
any Work Product. 

 The reasonable out-of-pocket expenses
incurred by me in rendering such assistance at the request of SOHU will be reimbursed by SOHU. If I am no longer an employee of SOHU at the time I render such assistance, SOHU will pay me a reasonable fee for my time. 

7. Termination; Return of SOHU Property. Upon the termination of my employment with SOHU for any reason, or at any time upon SOHU’s
request, I will return to SOHU all Work Product and Confidential Information and notes, memoranda, records, customer lists, proposals, business plans and other documents, computer software, materials, tools, equipment and other property in my
possession or under my control, relating to any work done for SOHU, or otherwise belonging to SOHU, it being acknowledged that all such items are the sole property of SOHU. Further, before obtaining my final paycheck, I agree to sign a certificate
stating the following: 

  
 -3- 

 “Termination Certificate 

This is to certify that I do not have in my possession or custody, nor have I failed to return, any Work Product (as defined in the Employee Non-competition, Non-solicitation, Confidential Information and Work Product Agreement between me and Sohu.com Inc. (“SOHU”)) or any notes, memoranda, records,
customer lists, proposals, business plans or other documents or any computer software, materials, tools, equipment or other property (or copies of any of the foregoing) belonging to SOHU.” 

8. General Provisions. 

(a) This Agreement contains the entire agreement between me and SOHU with respect to the subject matter hereof and supersedes all prior and
contemporaneous agreements and understandings related to the subject matter hereof, whether written or oral; provided however, that, with respect to periods through the date hereof, this Agreement will not supersede the Employee Non-competition, Non-solicitation, Confidential Information and Work Product Agreement between SOHU and me that was in effect prior to the date hereof (the “Prior
Employee Obligations Agreement”), which will continue in full force and effect with respect to such periods. This Agreement may not be modified except by written agreement signed by SOHU and me. 

(b) This Agreement will be governed by and construed and enforced in accordance with the laws of the State of New York if the Employee is not a
citizen of the People’s Republic of China (the “PRC”), and in accordance with the laws of the PRC if the Employee is a citizen of the PRC, in each case exclusive of such jurisdiction’s principles of conflicts of law. If, under
the applicable law, any portion of this Agreement is at any time deemed to be in conflict with any applicable statute, rule, regulation or ordinance, such portion will be deemed to be modified or altered to conform thereto or, if that is not
possible, to be omitted from this Agreement; the invalidity of any such portion will not affect the force, effect and validity of the remaining portion hereof. Each of the parties hereto irrevocably (i) agrees that any dispute or controversy
arising out of, relating to, or concerning any interpretation, construction, performance or breach of this Agreement, shall be settled to be held in the Hong Kong S.A.R. under the Hong Kong International Arbitration Centre Administered Arbitration
Rules (the “Arbitration Rules”) in force when a Notice of Arbitration with respect thereto is submitted in accordance with the Arbitration Rules. There shall be one arbitrator, selected in accordance with the Arbitration Rules. The
decision of the arbitrator shall be final, conclusive and binding on the parties to the arbitration. Judgment may be entered on the arbitrator’s decision in any court having jurisdiction. The parties to the arbitration shall each pay an equal
share of the costs and expenses of such arbitration, and each party shall separately pay for its respective counsel fees and expenses; provided, however, that the prevailing party in any such arbitration shall be entitled to recover from the non-prevailing party its reasonable costs and attorney fees. 

  
 -4- 

 (c) In the event that any provision of this Agreement is determined by any court of competent
jurisdiction to be unenforceable by reason of its extending for too great a period of time, over too large a geographic area, over too great a range of activities, it will be interpreted to extend only over the maximum period of time, geographic
area or range of activities as to which it may be enforceable. 
 (d) If, after application of paragraph (c) above, any provision of
this Agreement will be determined to be invalid, illegal or otherwise unenforceable by any court of competent jurisdiction, the validity, legality and enforceability of the other provisions of this Agreement will not be affected thereby. Any
invalid, illegal or unenforceable provision of this Agreement will be severed, and after any such severance, all other provisions hereof will remain in full force and effect. 

(e) SOHU and I agree that either of us may waive or fail to enforce violations of any part of this Agreement without waiving the right in the
future to insist on strict compliance with all or parts of this Agreement. 
 (f) My obligations under this Agreement will survive the
termination of my employment with SOHU regardless of the manner of or reasons for such termination, and regardless of whether such termination constitutes a breach of any other agreement I may have with SOHU. My obligations under this Agreement will
be binding upon my heirs, executors and administrators, and the provisions of this Agreement will inure to the benefit of the successors and assigns of SOHU. 

(g) I agree and acknowledge that the rights and obligations set forth in this Agreement are of a unique and special nature and necessary to
ensure the preservation, protection and continuity of SOHU’s business, employees, Confidential Information, and intellectual property rights. Accordingly, SOHU is without an adequate legal remedy in the event of my violation of any of the
covenants set forth in this Agreement. I agree, therefore, that, in addition to all other rights and remedies, at law or in equity or otherwise, that may be available to SOHU, each of the covenants made by me under this Agreement shall be
enforceable by injunction, specific performance or other equitable relief, without any requirement that SOHU have to post a bond or that SOHU have to prove any damages. 

  
 -5- 

 IN WITNESS WHEREOF, the undersigned employee and SOHU have executed this Employee Non-competition, Non-solicitation, Confidential Information and Work Product Agreement. 

Effective as of January 1, 2018 and signed on
                                         
                    
  

							
	Signature of Employee:	 		 	Sohu.com Inc.
			
	  
	 	By:	 	  

		 		 		 	Name: Joanna Lv
	Printed name of employee:	 		 		 	Title: Acting Chief Financial Officer
				
	Charles
Zhang                                        
    	 		 		 	

  

  
 -6-Exhibit

SUBSCRIPTION AGREEMENT
Aquiline Technology Growth Fund L.P.
c/o Aquiline Capital Partners LLC
535 Madison Ave, 24th Floor
New York, NY 10022 

Ladies and Gentlemen:
1.The subscriber named on the signature page to this Subscription Agreement (the “Subscriber”) hereby applies to become a limited partner of Aquiline Technology Growth Fund L.P., a Cayman Islands exempted limited partnership (the “Partnership”), or at the discretion of Aquiline Technology Growth GP Ltd., a Cayman Islands exempted company (the “General Partner”), to become a limited partner of any Parallel Fund (as defined in the Partnership Agreement referred to below), in each case, on the terms and conditions set forth in this Subscription Agreement and in the Amended and Restated Exempted Limited Partnership Agreement of the Partnership, as the same may be amended, restated, and/or supplemented from time to time (the “Partnership Agreement”), a copy of which has been furnished to the Subscriber.  In the event the Subscriber subscribes for interests in a Parallel Fund as discussed above, any references herein to the Partnership, the General Partner, a Limited Partner, a Partner, Interests and the Partnership Agreement shall, where applicable, mean such Parallel Fund, any general partner thereof, a limited partner thereof, a partner thereof, limited partnership interests therein and the agreement thereof governing the rights of the partners thereof. Capitalized terms used in this Subscription Agreement and not otherwise defined in this Subscription Agreement shall have the meanings assigned to them in the Partnership Agreement. All references herein to “dollars” or “$” are to U.S. dollars.
2.    (a)    To the fullest extent permitted by law, the Subscriber hereby irrevocably subscribes for a limited partnership interest in the Partnership (an “Interest”) with a Capital Commitment as set forth on the Subscriber’s signature page hereto (subject to reduction as provided in Section 3 below).  To the fullest extent permitted by law, the Subscriber understands that it is not entitled to cancel, terminate or revoke this subscription or any agreements of the Subscriber hereunder.
(b)    The Subscriber acknowledges and agrees that it shall be obligated to pay the amount of its Capital Commitment in such increments, at such times and in such manner as is determined by the General Partner pursuant to the Partnership Agreement.
(c)    The Subscriber further acknowledges and agrees that, in accordance with Section 2.9 of the Partnership Agreement, if the General Partner structures a potential Portfolio Investment or restructures an existing Portfolio Investment using an Alternative Investment Vehicle or Intermediate Entity, the Subscriber may be admitted as a partner, member or other equity holder of such Alternative Investment Vehicle and/or Intermediate Entity, and if so, shall make capital contributions directly to such Alternative Investment Vehicle or such Intermediate Entity to the same extent, for the same purposes and on the same terms and conditions as Partners are required to make Capital Contributions to the Partnership, and such capital contributions shall reduce the Unpaid Capital Commitment of the Subscriber to the same extent as if Capital Contributions were made to the Partnership with respect thereto.  In the event that the Subscriber is admitted as a partner, member or other equity holder of an Alternative Investment Vehicle and/or Intermediate Entity, the continued accuracy of all of the representations made by the Subscriber in this Subscription Agreement shall be deemed to be confirmed by the Subscriber upon the admittance of the Subscriber to such entity.

(d)    The Subscriber acknowledges and agrees that, in accordance with Section 2.10 of the Partnership Agreement, the General Partner may assign all or a portion of the Subscriber’s Interest to a Parallel Fund.  In the event that the Subscriber is admitted as a partner, member or other equity holder of a Parallel Fund, the continued accuracy of all of the representations made by the Subscriber in this Subscription Agreement shall be deemed to be confirmed by the Subscriber upon the admittance of the Subscriber to such Parallel Fund.
3.    The Subscriber acknowledges and agrees that the General Partner, on behalf of the Partnership, reserves the right, in its sole and absolute discretion, to accept or reject this subscription for an Interest (which includes the Capital Commitment applied for by the Subscriber and set forth on the signature page hereto) for any reason or no reason, in whole or in part, at any time prior to acceptance thereof, notwithstanding execution of this Subscription Agreement by or on behalf of the Subscriber.
4.    The Subscriber acknowledges and agrees that the General Partner shall notify the Subscriber in writing as to the acceptance, in whole or in part, or rejection of the Subscriber’s subscription for an Interest.  An Interest shall not be deemed to be sold or issued to, or owned by, the Subscriber until the date that the Subscriber’s subscription is accepted by the General Partner acting on behalf of the Partnership (notice of which shall be given promptly in writing to the Subscriber and which date shall not in any event occur prior to the date on which the General Partner first accepts subscriptions on behalf of the Partnership and executes the Partnership Agreement (the “Initial Closing Date”)).  The Subscriber agrees that the General Partner reserves the right, in its sole and absolute discretion, to admit the Subscriber to the Partnership either on the Initial Closing Date or on the date of any subsequent closing following the Initial Closing Date.  For purposes of this Subscription Agreement, “Closing Date” means the date, if any, on which the Subscriber is admitted as a Limited Partner to the Partnership.  The Partnership Agreement shall become binding upon the Subscriber, and the Subscriber shall be admitted as a Limited Partner and shall have all the rights of, and shall comply with all the obligations of, a Limited Partner as set out in the Partnership Agreement, on the applicable Closing Date.
5.    Subject to Section 8 hereof, if this subscription is rejected in full, or in the event the closing applicable to the Subscriber does not occur (in which event this subscription shall be deemed to be rejected), this Subscription Agreement shall thereafter have no force or effect except as set forth in this Section 5.  If so rejected, the Partnership shall return to the Subscriber, without interest or deduction, any payment tendered by the Subscriber, if any, and the Partnership and the Subscriber shall have no further obligations to each other hereunder, other than an obligation to keep information relating to the Partnership and the offering of Interests confidential.
6.    The Subscriber agrees to furnish to the General Partner all information that the General Partner has requested in this Subscription Agreement (and in the Prospective Investor Questionnaire, the Anti-Money Laundering Supplement and CRS and the UK CDOT Self-Certification Form attached hereto and forming a part of this Subscription Agreement), or may hereafter reasonably require, in order (i) to comply with any laws, rules or regulations applicable to the Partnership, the General Partner, Aquiline Capital Partners LLC (the “Manager”) or any of their Affiliates, (ii) to determine whether or not the Subscriber is, or shall be on the Closing Date, (a) an “accredited investor” as defined in Regulation D, promulgated under the United States Securities Act of 1933, as amended from time to time (the “Securities Act”), (b) a “qualified client” within the meaning of Rule 205-3 under the United States Investment Advisers Act of 1940, as amended from time to time (the “Advisers Act”), and (c) a “qualified purchaser” as defined in Section 2(a)(51) of the United States Investment Company Act of 1940, as amended from time to time (the “Investment Company Act”), (iii) to determine the number of persons by which the Interest to be acquired by the Subscriber would be considered to be beneficially owned 

for purposes of Section 3(c)(1) of the Investment Company Act, and (iv) to determine the tax status and residence of the Subscriber.
7.    The Subscriber hereby represents and warrants to, and agrees with, the General Partner and the Partnership that the following statements are true and correct as of the date hereof and shall be true and correct as of the Closing Date applicable to the Subscriber:
(a)    The Subscriber is acquiring the Interest for its own account, solely for investment purposes and not with a view to, or for resale in connection with, the distribution thereof in violation of the Securities Act.  The Subscriber is not obligated to sell or transfer the Interest purchased hereunder pursuant to any binding agreement, undertaking or arrangement and the Subscriber has no current plan or intention to sell or otherwise dispose of the Interest in any transaction that could be integrated with the purchase and sale of Interests contemplated by this Subscription Agreement.
(b)    The Subscriber acknowledges that (i) the offering and sale of the Interests have not been and shall not be registered under the Securities Act and are being made in reliance upon federal and state exemptions for transactions not involving a public offering and (ii) the Partnership shall not be registered as an investment company under the Investment Company Act.  In furtherance thereof, the Subscriber (x) represents and warrants that it is an “accredited investor” (as defined in Regulation D promulgated under the Securities Act), a “qualified client” (as defined in Rule 205-3) of the Advisers Act, and, unless otherwise indicated in the Prospective Investor Questionnaire, a “qualified purchaser” (as defined in the Investment Company Act), and that the information relating to the Subscriber set forth in the Prospective Investor Questionnaire, the Anti-Money Laundering Supplement and the CRS and UK CDOT Self-Certification Form attached hereto and forming a part of this Subscription Agreement is complete and accurate as of the date set forth on the signature page hereto and shall be complete and accurate as of the Closing Date applicable to the Subscriber and (y) agrees to notify the General Partner of any change in any such information occurring at any time prior to the dissolution or the termination of the Partnership.
(c)    The Subscriber (either alone or together with any advisors retained by the Subscriber in connection with evaluating the merits and risks of prospective investments) has sufficient knowledge and experience in financial and business matters so as to be capable of evaluating the merits and risks of purchasing an Interest, including, without limitation, the risks set forth under the caption “Risk Factors and Potential Conflicts of Interest” in the Confidential Offering Memorandum for the Partnership (as amended or supplemented from time to time the “Offering Memorandum”), and is able to bear the economic risk of such investment, including a complete loss.  The Subscriber understands that (i) the Interest has not been and will not be registered under the Securities Act or the securities laws of any U.S. state and accordingly may not be offered, sold, transferred or pledged unless the Interests are duly registered under the Securities Act and all other applicable securities laws or such offer or sale is made in accordance with an exemption from registration, (ii) the Partnership Agreement (as modified by any side letter between the Subscriber and the General Partner (the “Side Letter”), if applicable) contains substantial restrictions on the transferability of the Interest, (iii) no market for resale of any Interest exists or is expected to develop, (iv) the Subscriber may not be able to liquidate its investment in the Partnership and (v) any instruments representing an Interest may bear legends restricting the transfer thereof.

(d)     The Subscriber understands that the offering and sale of the Interests in non-U.S. jurisdictions may be subject to additional restrictions and limitations and represents and warrants that it is acquiring its Interest in compliance with all laws, rules, regulations and other legal requirements applicable to the Subscriber in jurisdictions in which the Subscriber is resident and in which such acquisition is being consummated. In connection with the purchase of an Interest, the Subscriber meets all suitability standards imposed on it by applicable law.  Further, to the Subscriber’s knowledge, no governmental orders, permissions, consents, approvals or authorizations are required to be obtained, and no registrations or other filings are required to be made, in connection with the purchase of an Interest by the Subscriber.
(e)    The Subscriber has been furnished with, and has carefully read, the Offering Memorandum and the Partnership Agreement and has been given the opportunity to (i) ask questions of, and receive answers from, the General Partner or any Affiliate thereof concerning the terms and conditions of the offering and other matters pertaining to an investment in the Partnership and (ii) obtain any additional information which the General Partner can acquire without unreasonable effort or expense that is necessary to evaluate the merits and risks of an investment in the Partnership.  In considering a subscription of Interests, the Subscriber has not relied upon any representations made by, or other information (whether oral or written, including any information provided by the General Partner through an online data site) furnished by or on behalf of, the Partnership, the General Partner, the Manager or any of their respective directors, officers, employees, agents or Affiliates, other than as set forth in the Offering Memorandum, the Partnership Agreement or the Side Letter (if applicable).  The Subscriber has carefully considered and has, to the extent it believes such discussion necessary, discussed with legal, tax, accounting and financial advisers the suitability of an investment in the Partnership in light of its particular tax and financial situation, and has determined that the Interests being subscribed for by it hereunder are a suitable investment for it.
(f)    The Subscriber, if it is a corporation, limited liability company, trust, partnership or other entity, is duly organized, validly existing and in good standing under the laws of its jurisdiction of organization and the execution, delivery and performance by it of this Subscription Agreement and the Partnership Agreement (each as modified by the Side Letter, if applicable) are within its powers, have been duly authorized by all necessary corporate or other action on its behalf, require no action by or in respect of, or filing with, any governmental body, agency or official (except as disclosed in writing to the General Partner) and do not and shall not contravene, or constitute a default under, any provision of applicable law, rule or regulation or of its certificate of incorporation or other comparable organizational documents or any agreement, judgment, injunction, order, decree or other instrument to which the Subscriber is a party or by which the Subscriber or any of the Subscriber’s properties is bound.  The signature on the signature page of this Subscription Agreement is genuine, and the signatory has been duly authorized to execute the same, and this Subscription Agreement constitutes, and the Partnership Agreement, when executed and delivered by the General Partner on the Subscriber’s behalf, shall constitute, a valid and binding agreement of the Subscriber, enforceable against the Subscriber in accordance with its terms.
(g)    If the Subscriber is a natural person, the execution, delivery and performance by such person of this Subscription Agreement and the Partnership Agreement are within such person’s legal right, power and capacity, require no action by or in respect of or filing with, any governmental body, agency, or official (except as disclosed in writing to the General Partner) and do not and shall not contravene, or constitute a default under, any provision of applicable 

law, rule or regulation or of any agreement, judgment, injunction, order, decree or other instrument to which such person is a party or by which such person or any of such person’s properties are bound.  The signature on the signature page of this Subscription Agreement is genuine, the Subscriber has legal competence and capacity to execute the same, and this Subscription Agreement constitutes, and the Partnership Agreement when executed and delivered by the General Partner on the Subscriber’s behalf shall constitute, a valid and binding agreement of the Subscriber, enforceable against the Subscriber in accordance with its terms.
(h)    Unless otherwise indicated in the Prospective Investor Questionnaire, the Subscriber is not a participant-directed defined contribution plan (such as a 401(k) plan), or a partnership or other investment vehicle (i) in which its partners or participants have or shall have any discretion as to their level of investment in the Subscriber or in investments made by the Subscriber (including the Subscriber’s investment in an Interest), or (ii) that is otherwise an entity managed to facilitate the individual decisions of its beneficial owners to invest in the Partnership.
(i)    If the Subscriber is a private investment company or non-U.S. investment company exempt from registration under the Investment Company Act pursuant to Section 3(c)(1), 3(c)(7) or 7(d) thereunder, unless otherwise indicated in the Prospective Investor Questionnaire, the Subscriber’s Interest constitutes, and after the Closing Date applicable to the Subscriber shall continue to constitute, less than 40% of each of the Subscriber’s total assets and committed capital.
(j)    Unless otherwise disclosed in writing to the General Partner, the Subscriber is not a registered investment company under the Investment Company Act, is not required to register as an investment company under the Investment Company Act and is not a business development company as defined in the Advisers Act.
(k)    If the Subscriber is a “charitable remainder trust” within the meaning of Section 664 of the Code, the Subscriber has advised the Partnership in writing of such fact and the Subscriber acknowledges that it understands the risks, including specifically the tax risks, if any, associated with its investment in the Partnership.
(l)     If the Subscriber is purchasing its Interest with funds that constitute, directly or indirectly, the assets of (i) an employee benefit plan subject to Title I of the United States Employee Retirement Income Security Act of 1974, as amended from time to time (“ERISA”) or Section 4975 of the United States Internal Revenue Code of 1986, as amended from time to time (the “Code”), or (ii) or a governmental plan subject to any federal, state or local law substantially similar to Title I of ERISA or Section 4975 of the Code (“Similar Law”), it acknowledges that the Subscriber (and, as applicable, any person responsible for the decision to purchase an Interest) has evaluated for itself the merits of such investment, is qualified to make such investment decision and, to the extent it deems necessary, has consulted its own investment advisors and legal counsel regarding the purchase of an Interest and it has not solicited and has not received from the General Partner, the Manager or any of their respective directors, officers, employees, agents or Affiliates any evaluation or other investment advice on any basis in respect of the advisability of a subscription for an Interest in light of the plan’s assets, cash needs, investment policies or strategy, overall portfolio composition or plan for diversification of assets and it is not relying and has not relied on the General Partner or any director, officer, employee, agent or Affiliate thereof for any such advice.  The Subscriber represents that, based 

upon the assumption that the assets of the Partnership do not constitute “plan assets” under Title I of ERISA or Section 4975 of the Code, neither (x) the execution and delivery of this Subscription Agreement nor the purchase of the Subscriber’s Interest in the Partnership will result in a non-exempt prohibited transaction under Section 406 of ERISA or Section 4975 of the Code or under Similar Law; and (y) if the Subscriber is a governmental plan subject to Similar Law, the investment by the Subscriber will not cause the assets of the Partnership to be subject to any such Similar Law.  If the Subscriber is subject to Part 4 of Subtitle B of Title I of ERISA, the Subscriber acknowledges that none of the General Partner, the Manager or any of their respective Affiliates is a “fiduciary” (within the meaning of ERISA) of the Subscriber in connection with the Subscriber’s purchase of Interests.
(m)    If the Subscriber is subject to Title I of ERISA and/or Section 4975 of the Code (a “Plan”), then the Subscriber on behalf of the authorized fiduciary of the Plan (the “Fiduciary”) represents, acknowledges and agrees that: (i) the purchase of the Interests by the Plan is an arm’s length transaction related to an investment in securities or other investment property; (ii) the Fiduciary is either (A) a bank as defined in Section 202 of the Advisers Act or similar institution that is regulated and supervised and subject to periodic examination by a state or federal agency, (B) an insurance carrier which is qualified under the laws of more than one state to perform the services of managing, acquiring or disposing of assets of a plan, (C) an investment adviser registered under the Advisers Act or, if not registered an as investment adviser under the Advisers Act by reason of paragraph (1) of  Section 203A of the Advisers Act, is registered as an investment adviser under the laws of the state in which it maintains its principal office and place of business, (D) a broker-dealer registered under the United States Securities Exchange Act of 1934, as amended from time to time, or (E) an independent fiduciary that holds, or has under management or control, total assets of at least $50 million; (iii) the Fiduciary is capable of evaluating investment risks independently, both in general and with regard to the purchase of the Interests; (iv) the General Partner and the Manager have informed the Fiduciary (x) that none of the General Partner, the Manager, or any of their Affiliates is undertaking to provide impartial investment advice or to give advice in a fiduciary capacity in connection with the offering or purchase of the Interests, and (y) of the existence and nature of the General Partner’s and the Manager’s financial interests associated with the purchase of the Interests, including the fees and other distributions that the General Partner and/or the Manager anticipate receiving from the Partnership on account of the purchase of the Interests; (v) the Fiduciary is a fiduciary under ERISA or the Code, or both, with respect to the purchase of the Interests by the Subscriber, and is responsible for exercising independent judgment in evaluating such purchase of the Interests; and (vi) none of the General Partner, the Manager, or any of their Affiliates has received, or will receive, a fee or other compensation directly from any of the Subscriber, any fiduciary of the Subscriber (including the Fiduciary), or any participant or beneficiary of the Subscriber, for the provision of investment advice (as opposed to other services) in connection with the purchase of the Interests by the Subscriber or otherwise.

(n)    Unless otherwise indicated in the Prospective Investor Questionnaire, the Subscriber is not a Benefit Plan Investor1 as defined under Section 3(42) of ERISA and any regulations thereunder.  The Subscriber agrees to promptly notify the General Partner in writing if there is any change in the percentage of the Subscriber’s assets that are treated as “plan assets” for the purpose of Section 3(42) of ERISA and any regulations promulgated thereunder.
(o)    If the Subscriber is an insurance company and is investing assets of its general account (or the assets of a wholly owned subsidiary of its general account) in the Partnership, then, unless otherwise indicated in the Prospective Investor Questionnaire, such assets underlying the general account do not constitute “plan assets” within the meaning of Section 401(c) of ERISA.  The Subscriber agrees to promptly notify the General Partner in writing if there is any change in the percentage of the general account’s assets that constitute “plan assets” within the meaning of Section 401(c) of ERISA.
(p)    If the Subscriber is a corporation, limited liability company, trust, partnership or other entity organized under the laws of a jurisdiction outside of the United States, the Subscriber represents and warrants that it is not aware of any foreign laws or regulations that might restrict its ability to make Capital Contributions pursuant to the Partnership Agreement.
(q)    The Subscriber (i)(A) is subscribing for Interests solely for its own account, own risk and own beneficial interest, (B) if it is an entity, including without limitation a fund-of-funds, trust, pension plan or any other entity that is not a natural person (each, an “Entity”), has carried out thorough due diligence as to, and established the identities of, such Entity’s Related Persons2, holds the evidence of such identities and shall maintain all such evidence for at least six years from the date of the completion of the liquidation of the Partnership and shall make such information available to the Partnership and the General Partner upon the General Partner’s reasonable request, and (C) does not have the intention or obligation to sell, pledge, distribute, assign or transfer all or a portion of the Interests to any other person (whether directly or indirectly, including without limitation, through any option, swap, forward or any other hedging or derivative transaction), or (ii)(A) is subscribing for Interests as a record owner and shall not have a beneficial ownership interest in the Interests, (B) is acting as an agent, trustee, representative, intermediary, nominee or in a similar capacity for one or more natural persons,
____________________________________________________ 
1 A “Benefit Plan Investor” includes (i) an “employee benefit plan”  that is subject to the provisions of Title I of ERISA; (ii) a “plan” that is not subject to the provisions of Title I of ERISA, but is subject to the prohibited transaction provisions of Section 4975 of the Code, such as IRAs and certain retirement plans for self-employed individuals; and (iii) a pooled investment fund whose assets are treated as “plan assets” under Department of Labor Regulations 2510.3-101, as modified by Section 3(42) of ERISA because “employee benefit plans” or “plans” hold 25% or more of any class of equity interest in such pooled investment fund.
2 A “Related Person” means, with respect to any Entity, any investor, director, senior officer, trustee, beneficiary or grantor of such Entity; provided that in the case of (i) an Entity the securities of which are listed on a national securities exchange or quoted on an automated quotation system in the United States (a “Publicly Traded Company”), (ii) a wholly-owned subsidiary of such an Entity that is a Publicly Traded Company or (iii) a tax qualified pension or retirement plan in which at least 100 employees participate that is maintained by an employer that is (A) organized in the United States or (B) any United States government or any state department or other political subdivision thereof or any non-U.S. governmental body, agency, authority or instrumentality in any jurisdiction exercising executive, legislative, regulatory or administrative functions of or pertaining to government (a “Qualified Plan”), the term “Related Person” excludes the investors and beneficiaries of such Publicly Traded Company or such Qualified Plan.

Entities, nominee accounts or beneficial owners (each such person or Entity, if any, for whom the Subscriber acts as agent, representative, intermediary, nominee or in a similar capacity, a “Beneficiary”3), and understands and acknowledges that the representations, warranties and agreements made in this Subscription Agreement are made by the Subscriber with respect to both the Subscriber and each such Beneficiary, (C) has all requisite power and authority from each such Beneficiary to execute and perform the obligations under this Subscription Agreement, (D) has carried out thorough due diligence as to, and established the identity of, each such Beneficiary (and, if a Beneficiary is not a natural person, the identities of such Beneficiary’s Related Persons (to the extent applicable)), holds the evidence of such identities and shall maintain all such evidence for at least five years from the date of the completion of the liquidation of the Partnership and shall make such information available to the Partnership and the General Partner upon the General Partner’s reasonable request, and (E) does not have the intention or obligation to sell, pledge, distribute, assign or transfer all or a portion of the Interests to any person (whether directly or indirectly, including without limitation, through any option, swap, forward or any other hedging or derivative transaction) other than any such Beneficiary.
(r)    If the Subscriber is a grantor trust, S Corporation or entity treated as a partnership for U.S. federal income tax purposes, (i) at no time during the term of the Partnership shall substantially all of the value of a Beneficiary’s interest in the Subscriber (directly or indirectly) be attributable to the Subscriber’s ownership of the Interest, or (ii) the Subscriber does not have, in acquiring the Interest, a principal purpose of permitting the Partnership to satisfy the 100 partner limitation in Treasury Regulations Section 1.7704-1(h)(1), and, to the best of Subscriber’s knowledge, no Beneficiary has such a principal purpose.
(s)    Either (i) the Subscriber is not, and will not become, a disregarded entity or grantor trust for Federal income tax purposes, or (ii) the Subscriber is a disregarded entity or grantor trust and the Federal tax owner or grantor, as applicable, of the Subscriber agrees to be bound by the representations and warranties of the Subscriber contained in Section 7(r) of this Subscription Agreement as if such owner or grantor, as applicable, were the Subscriber.
(t)    The proposed investment in the Partnership by the Subscriber or any Beneficiary, as the case may be, shall not directly or indirectly contravene any applicable anti-money laundering laws, rules and regulations (a “Prohibited Investment”) and no Capital Contribution to the Partnership by such Subscriber or, if applicable, any Beneficiary shall be derived from any illegal or illegitimate activities.  The Subscriber does not know or have any reason to suspect that the proceeds from the Subscriber’s investment in the Interests will be used to finance any illegal activities.

____________________________________________________ 
3 For the avoidance of doubt, to the extent that the Subscriber is acting as an agent, trustee, representative, intermediary, nominee or in a similar capacity for one or more Beneficiaries, the representations, warranties and agreements made in this Subscription Agreement shall be deemed representations, warranties and agreements of each Beneficiary, as if such Beneficiary completed this Subscription Agreement.

(u)    The Subscriber understands that federal regulations and executive orders administered by the United States Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) and other U.S. government agencies prohibit, among other things, the engagement in  transactions with, and the provision of services to, certain foreign countries, territories, entities  and individuals4. The Subscriber further represents and warrants that none of the Subscriber, any of its Affiliates, or, if applicable, any Beneficiary or Related Person, is a country, territory, person or entity named on an OFAC list or any other applicable restricted party lists, including OFAC’s Specially Designated Nationals List, and none of the Subscriber, any of its Affiliates, or, if applicable, any Beneficiary or Related Person, is a natural person or Entity with whom dealings are prohibited under any OFAC regulations.
(v)    Neither the Subscriber nor, if applicable, any Beneficiary or Related Person, is, receives deposits from, makes payments to or conducts transactions relating to a foreign bank without a physical presence in any country other than a foreign bank that (i) is an Affiliate of a depositary institution, credit union or foreign bank that maintains a physical presence in the United States or a foreign country, as applicable, (ii) is subject to supervision and inspection by a banking authority in the country regulating such affiliated depositary institution, credit union, or foreign bank (each, a “Regulated Affiliate”), (iii) has a fixed address, other than an electronic address or a post office box, in a country in which it is authorized to conduct banking activities, (iv) employs one or more individuals on a full-time basis, (v) maintains operating records related to its banking activities, (vi) is subject to inspection by the banking authority which licensed the foreign bank to conduct banking activities and (vii) does not provide banking services to any other foreign bank that does not have a physical presence in any country and that is not a Regulated Affiliate.
(w)    The Subscriber acknowledges and agrees that, notwithstanding anything to the contrary contained in any document (including the Partnership Agreement, any Side Letters or similar agreements), if, following the Subscriber’s investment in the Partnership, the General Partner or the Manager reasonably believes that the investment is or has become a Prohibited Investment or if otherwise required by law, the General Partner on behalf of the Partnership may be obligated to “freeze the account” of the Subscriber, either by (i) prohibiting additional Capital Contributions, (ii) restricting any distributions, (iii) declining any requests to transfer the Subscriber’s Interest and/or (iv) segregating the assets in the Subscriber’s account in compliance with governmental regulations.  In addition, in any such event, the Subscriber may (A) forfeit its Interest, (B) may be forced to withdraw from the Partnership or may otherwise be subject to the remedies required by law, (C) to the fullest extent permitted by law, shall have no claim against any Indemnified Party (as such term is defined in the Partnership Agreement) for any form of damages as a result of any of the actions described in this paragraph and (D) shall promptly pay or reimburse the Partnership, the Manager and General Partner for any and all expenses and costs incurred by the Partnership, the Manager or the General Partner in connection with any such actions (which such payment shall not be deemed a Capital Contribution).  The Partnership may also be required to report such action and to disclose the Subscriber’s identity or provide other information with respect to the Subscriber to OFAC or other governmental entities.
____________________________________________________ 
4 The lists of OFAC prohibited countries, territories, persons and entities can be found on the OFAC website at <www.treas.gov/ofac>.

(x)    Except as otherwise disclosed to the General Partner in writing: (i) neither the Subscriber  nor, if applicable, any Beneficiary or Related Person, is resident in, or organized or chartered under the laws of, (A) a jurisdiction that has been designated by the Secretary of the Treasury under Section 311 or 312 of the Uniting and Strengthening America by Providing Appropriate Tools Required to Interrupt and Obstruct Terrorism Act of 2001 (the “PATRIOT Act”) as warranting special measures due to money laundering concerns or (B) any foreign country that has been designated by the Financial Action Task Force as having strategic deficiencies in its anti-money laundering and counter-terrorist financing standards (a “Strategically Deficient Jurisdiction”5); (ii) the subscription funds of the Subscriber and, if applicable, any Beneficiary, do not originate from, nor will they be routed through, an account maintained at (A) a Foreign Shell Bank,6 (B) a foreign bank (other than a Regulated Affiliate) that is barred, pursuant to its banking license, from conducting banking activities with the citizens of, or with the local currency of, the country that issued the license, or (C) a bank organized or chartered under the laws of a Strategically Deficient Jurisdiction; and (iii) neither the Subscriber nor, if applicable, any Beneficiary or Related Person, is a senior non-U.S. government, political or military official or any other Senior Foreign Political Figure (as defined in the PATRIOT Act) (each, a “Politically Exposed Person”), or an immediate family member or close associate of a Politically Exposed Person.
(y)    The Subscriber agrees to promptly notify the Partnership should the Subscriber become aware of any change in the information set forth in paragraphs (a) through (y) of this Section 7.
(z)    The Subscriber understands that legal counsel to the Partnership, the Manager, the General Partner and to any of their respective Affiliates shall not be representing the Subscriber or any other investor in the Partnership, and no independent counsel has been retained to represent the Subscriber or any other investor in the Partnership.
(aa)    The Subscriber acknowledges that the Interest will not be issued until such time as the General Partner has received and is satisfied with all the information and documentation requested to verify the Subscriber’s identity.  Where, at the sole discretion of the General Partner, the Interest is issued prior to the General Partner having received all the information and documentation required to verify the Subscriber’s identity, the General Partner reserves the right to refuse to make any withdrawal payment or distribution to the Subscriber, until such time as the General Partner has received and is satisfied with all the information and documentation requested to verify the Subscriber’s identity.
(bb)    The Subscriber acknowledges and agrees that any distributions paid to it by the Partnership shall be paid to, and any contributions made by it to the Partnership shall be made from, an account in the Subscriber’s name unless the General Partner, in its sole discretion, agrees otherwise in writing.

____________________________________________________ 
5 Subscribers should visit: http://www.fatf-gafi.org/topics/high-riskandnon-cooperativejurisdictions/ for a complete list of Strategically Deficient Jurisdictions.
6 A “Foreign Shell Bank” means a foreign bank without a physical presence in any country that is not a Regulated Affiliate.

(cc)    The Subscriber agrees, to the extent permitted by law, to promptly provide any information requested by the General Partner which the General Partner reasonably believes shall enable the Partnership or its agents to comply with all applicable anti-money laundering laws, rules and regulations, (including, without limitation, the Money Laundering Regulations of the Cayman Islands), including any laws, rules and regulations applicable to an investment held or proposed to be held by the Partnership and information related to the Subscriber which the General Partner reasonably believes is necessary to allow the Partnership or its agents to comply with any tax reporting, tax withholding or tax payment obligations of the Partnership or such agents to establish the Partnership’s, any Alternative Investment Vehicle’s or any Portfolio Company’s legal entitlement to an exemption from, or reduction of, withholding tax including U.S. federal withholding tax, or any other taxes or similar payments. The Subscriber understands and agrees that the Partnership or its agents may release confidential information about the Subscriber and, if applicable, any Beneficiary or Related Person to any Person, if the General Partner, in its sole and absolute discretion, determines that such disclosure is in the best interests of the Partnership in light of relevant laws, rules and regulations concerning Prohibited Investments, and any such disclosure shall not be treated as a breach of any restriction upon the disclosure of information imposed on any such person by law or otherwise.
(dd)    The Subscriber acknowledges and agrees that:  (i) the Partnership has only recently been formed and has no financial or operating history; (ii) there are substantial risks incident to purchasing Interests, as summarized in the Offering Memorandum under the heading “Risk Factors and Potential Conflicts of Interest” and in other portions of the Offering Memorandum; (iii) the Manager pursuant to the Investment Management Agreement, and the General Partner shall receive substantial compensation in connection with the management of the Partnership; (iv) neither the General Partner, the Manager, nor any of their respective Affiliates has acted as or is an agent or employee of or has advised the Subscriber in connection with the investment in the Partnership by the Subscriber; (v) no federal, state, local or foreign agency has passed upon the Interests or made any finding or determination as to the fairness of the Subscriber’s investment; and (vi) any investment returns set forth in the Offering Memorandum or in any supplemental materials thereto are not necessarily comparable to the returns, if any, which may be achieved on investments made by the Partnership.
(ee)        The Subscriber acknowledges that it has received Part 2A of Form ADV of the Manager prior to the Closing Date.
(ff)        If the General Partner determines that the Subscriber (or any beneficial owner of the Subscriber) beneficially owns 20% or more of the voting securities of the Partnership at any time, the Subscriber acknowledges and agrees that it (or such beneficial owner) shall (i) complete and furnish to the General Partner a Rule 506(d) supplement to this Subscription Booklet allowing the General Partner to make the determinations required by Rule 506(d) of Regulation D under the Securities Act and any other applicable laws and regulations, (ii) update such Rule 506(d) supplement as requested by the General Partner from time to time and (iii) promptly notify the General Partner of any change in any such information. 
(gg)    The Subscriber has read carefully and understands the privacy statement of the Partnership attached hereto as Annex C.
(hh)        The Subscriber is not subscribing for the Interest as a result of (a) any advertisement, article, notice or other communication published in any newspaper, magazine 

or similar media or broadcast over television, radio or the internet, in each case, relating to the Partnership or (b) any seminar or meeting whose attendees, including the Subscriber, have been invited by any general solicitation or general advertising related to the Partnership.
(ii)        The foregoing representations, warranties and agreements shall survive the Closing Date applicable to the Subscriber.
8.    Unless otherwise agreed by the General Partner in writing, the Subscriber shall, to the fullest extent permitted by applicable law, indemnify each Indemnified Party and the Partnership against any losses, claims, damages or liabilities to which any of them may become subject in any capacity in any action, proceeding or investigation arising out of or based upon any false representation or warranty, or breach or failure by the Subscriber to comply with any covenant or agreement made by the Subscriber herein, or in any other document furnished to the General Partner or the Partnership by the Subscriber in connection with the offering of the Interests.  The Subscriber shall reimburse each Indemnified Party and the Partnership for legal and other expenses (including, without limitation, the cost of any investigation and preparation) as they are incurred in connection with any such action, proceeding or investigation (whether incurred between any Indemnified Party or the Partnership and the Subscriber, or between any Indemnified Party or the Partnership and any third party).  The reimbursement and indemnity obligations of the Subscriber under this Section 8 shall survive the Closing Date applicable to the Subscriber and shall be in addition to any liability which the Subscriber may otherwise have (including, without limitation, liabilities under the Partnership Agreement), and shall be binding upon and inure to the benefit of any successors, assigns, heirs, estates, executors, administrators and personal representatives of any Indemnified Party and the Partnership.  The parties hereto intend that each Indemnified Party be entitled to be indemnified under this Subscription Agreement, and have the right to enforce such indemnification as though they were parties hereto. Except with respect to each Indemnified Party under this Section 8, a person who is not a party to this Subscription Agreement shall not have any rights under the Contracts (Rights of Third Parties) Law, 2014 (as amended) to enforce any term of this Subscription Agreement. Notwithstanding any other provision of this Subscription Agreement, including the foregoing, the consent of or notice to any person who is not a party to this Subscription Agreement shall not be required for any termination, rescission or agreement to any variation, waiver, assignment, novation, release or settlement under this Subscription Agreement at any time.
9.    The Subscriber acknowledges that it may be required to provide certain information as necessary for the Partnership, any Parallel Fund, any Alternative Investment Vehicle, Intermediate Entity, Portfolio Company or any affiliated entities of the foregoing to enter into, maintain, or otherwise comply with, any agreement contemplated by FATCA (as defined in the Partnership Agreement) or satisfy any requirements imposed by FATCA.  By becoming a Limited Partner, the Subscriber further acknowledges and agrees that the Subscriber shall promptly notify the General Partner if there is any change of circumstances that renders the information furnished in this Subscription Agreement in respect of FATCA incorrect.  The Subscriber agrees to provide to the General Partner or its agents, upon request, any documentation or other information regarding the Subscriber and its beneficial owners that the General Partner or its agents may require from time to time in connection with the Partnership’s obligations under, and compliance with, applicable laws and regulations including, but not limited to FATCA.  By executing this Subscription Agreement, the Subscriber waives any provision under the laws and regulations of any jurisdiction that would, in the absence of such waiver, prevent or inhibit the Partnership’s compliance with applicable law as described in this paragraph including, but not limited to preventing (i) the Subscriber from providing any requested information or documentation, or (ii) the 

disclosure by the General Partner or its agents of the provided information or documentation to applicable governmental or regulatory authorities. 
10.    Neither this Subscription Agreement nor any provisions hereof shall be waived, modified, discharged or terminated except by an instrument in writing signed by the party against whom any waiver, modification, discharge or termination is sought.
11.    This Subscription Agreement is not transferable or assignable by the Subscriber.  This Subscription Agreement shall be binding upon and inure to the benefit of the parties and their successors and permitted assigns.  If the Subscriber is more than one person, the obligation of the Subscriber shall be joint and several, and the agreements, representations, warranties and acknowledgments herein contained shall be deemed to be made by and be binding upon each such person and its successors and assigns.  
12.    This Subscription Agreement and the other agreements or documents referred to herein or in the Partnership Agreement (including any Side Letter) contain the entire agreement of the parties, and there are no representations, covenants or other agreements except as stated or referred to herein and in such other agreements or documents.  In the event of a conflict between the terms of this Subscription Agreement, on the one hand, and the terms of the Partnership Agreement or the Side Letter (if applicable), the terms of the Partnership Agreement or the Side Letter, as applicable, shall control.  The signature page to this Subscription Agreement may be executed in several counterparts with the same effect as if the parties executing the several counterparts had all executed one counterpart.
13.    This Subscription Agreement and all claims or causes of action that may be based upon, arise out of or related to this Subscription Agreement and the negotiation, execution or performance of this Subscription Agreement (including any claim or cause of action based upon or arising out of or related to any representation or warranty made in or in connection with this Subscription Agreement or as an inducement to enter into this Subscription Agreement) shall be governed by and construed and enforced in accordance with the laws of the Cayman Islands, without giving effect to any choice or conflict of law provision or rule (whether in the Cayman islands or any other jurisdiction) that would cause the application of the laws of any jurisdiction other than the Cayman Islands.  In furtherance of the foregoing, the law of the Cayman Islands will control even if under such jurisdiction’s choice of law or conflict of law analysis, the substantive law of some other jurisdiction would ordinarily or necessarily apply.  To the fullest extent permitted by law, unless otherwise agreed by the General Partner in writing, in the event of any dispute arising out of or relating to this Subscription Agreement, or the negotiation, execution or performance of this Subscription Agreement (including any claim or cause of action based upon, arising out of or related to any representation or warranty made in or in connection with this Subscription Agreement or as an inducement to enter into this Subscription Agreement), the parties hereto consent and submit to the courts of the State of New York located in New York County or the United States District Court for the Southern District of New York, to the extent subject matter jurisdiction exists therefor, and the parties irrevocably submit to the exclusive jurisdiction of each of those courts in respect of any such action or proceeding.  The Subscriber hereby waives as a defense that any such action, suit or proceeding brought in such courts has been brought in an inconvenient forum or that the venue thereof may not be appropriate and, furthermore, agree that venue in the State of New York for any such action, suit or proceeding is appropriate.  UNLESS OTHERWISE AGREED BY THE GENERAL PARTNER IN WRITING, TO THE FULLEST EXTENT PERMITTED BY LAW, THE PARTIES HERETO WAIVE ALL RIGHTS TO TRIAL BY JURY IN ANY ACTION, SUIT OR PROCEEDING TO ENFORCE OR DEFEND ANY RIGHTS OR REMEDIES ARISING UNDER OR IN CONNECTION WITH THIS SUBSCRIPTION AGREEMENT.  Notwithstanding the foregoing, a 

Subscriber which is a Governmental Plan and which has provided the General Partner, prior to the date of its admission as a Subscriber, with a certificate of an officer of its plan administrator stating that such an irrevocable submission to jurisdiction or waiver, as the case may be, would constitute a violation of applicable law or regulation shall not be deemed to have made such an irrevocable submission or waiver, as the case may be.
14.    The Partnership, the General Partner and/or the Manager may provide the Subscriber (or its designated agents) (a) statements, reports and other communications relating to the Partnership and/or the Subscriber’s investment in the Partnership, annual and other updates of the Partnership’s consumer privacy policies and procedures and (b) all communications relating to the General Partner and the Manager (including the Manager’s Form ADV, Part 2, privacy policy and any other communication required under the Advisers Act or otherwise) (collectively, the “Partnership Information”) in electronic form, such as e-mail, in lieu of or in addition to sending such communications as hard copies via fax or mail.  E-mail messages are not secure and may contain computer viruses or other defects, may not be accurately replicated on other systems, or may be intercepted, deleted or interfered with without the knowledge of the sender or the intended recipient.  The Partnership, the General Partner and the Manager make no warranties in relation to these matters.  The General Partner and the Manager reserve the right to intercept, monitor and retain e-mail messages to and from its systems as permitted by applicable law.  If the Subscriber has any doubts about the authenticity of an email purportedly sent by the Partnership, the General Partner or the Manager, the Subscriber is required to contact the purported sender immediately.
15.    Any term or provision of this Subscription Agreement that is invalid or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such invalidity or unenforceability without rendering invalid or unenforceable the remaining terms or provisions of this Subscription Agreement or affecting the validity or unenforceability of any of the terms or provisions of this Subscription Agreement in any other jurisdiction.
16.    The Subscriber hereby constitutes and appoints the General Partner as its true and lawful representative and attorney-in-fact, in its name, place and stead to make, execute, sign and file the Partnership Agreement, any amendments thereto required in order to effectuate any change in the membership of the Partnership or pursuant to the terms of the Partnership Agreement and all such other instruments, documents and certificates which may from time to time be required by the laws of the Cayman Islands, the United States of America, or any state, or any political subdivision or agency thereof, to effectuate, implement and continue the valid and subsisting existence of the Partnership or to dissolve the Partnership.  If at any time the power of attorney granted pursuant to this Section 16 or Section 11.2 of the Partnership Agreement is deemed to be invalid for any reason, the Subscriber agrees to execute and deliver to the General Partner, within ten (10) calendar days after receipt of a request therefor, any documents necessary to grant the General Partner the powers of attorney contemplated in this Section 16 or Section 11.2 of the Partnership Agreement. The power of attorney granted hereby is intended to secure an interest in property and, in addition, the obligation of the Subscriber hereunder, is irrevocable and shall (i) survive and not be affected by the subsequent dissolution, incapacity, disability, death, termination or bankruptcy of the Subscriber granting the same or the transfer of all or any portion of the Subscriber’s interest in the Partnership and (ii) extend to the Subscriber’s successors, assigns and legal representatives.
By executing the signature pages to this Subscription Agreement, the Subscriber agrees to be bound by the foregoing.

SIGNATURE PAGE TO THE SUBSCRIPTION AGREEMENT, PROSPECTIVE INVESTOR QUESTIONNAIRE AND ANTI-MONEY LAUNDERING SUPPLEMENT
This page constitutes the signature page for the Subscription Agreement, the Prospective Investor Questionnaire and the Anti-Money Laundering Supplement relating to the offering of Interests in the Partnership.  Execution of this signature page constitutes execution of the Subscription Agreement, the Prospective Investor Questionnaire and the Anti-Money Laundering Supplement.
IN WITNESS WHEREOF, the Subscriber has executed and unconditionally delivered this Subscription Agreement, Prospective Investor Questionnaire and Anti-Money Laundering Supplement as a deed this 3rd day of March, 2017.
	
					
	 
	 
	$10,000,000

	 
	 
	Capital Commitment Applied For

	 
	 
	 
	 
	 

	In the presence of:
	 
	Western World Insurance Company

	 
	 
	Name of Prospective Investor (print or type)

	/s/ Gene Hammoud
	 
	 
	 
	 

	Signature of Witness
	 
	By: 
	 

	 
	 
	(Signature, if individual)

	Name: Gene Hammoud
	 
	 
	 
	 

	 
	 
	By:  
	/s/ Gerald Ayash

	Address: 300 Kimball Drive, Suite
	 
	 
	(Signature, if executing on behalf of entity)

	500, Parsippany, NJ 07054
	 
	Name:
	Gerald Ayash

	 
	 
	Title:
	Senior VP & CFO

By initialing in the space at the right, the Subscriber represents that it is a/an:
	
		
	Benefit Plan Investor (as defined in the Partnership Agreement)
	 

	 
	Initial here

	BHC Partner (as defined in the Partnership Agreement)
	 

	 
	Initial here

	CAI Limited Partner (as defined in the Partnership Agreement)
	 

	 
	Initial here

	ERISA Partner (as defined in the Partnership Agreement)
	 

	 
	Initial here

	FOIA Limited Partner (as defined in the Partnership Agreement)
	 

	 
	Initial here

	Governmental Plan (as defined in the Partnership Agreement)
	 

	 
	Initial here

	Regulated Plan Partner (as defined in the Partnership Agreement)
	 

	 
	Initial here

	Electing Partner (as defined in the Partnership Agreement)
	 

	 
	Initial here

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