Document:

Exhibit 4.37

 

Our fifth amended and restated memorandum and articles of association
were adopted by our shareholders at an extraordinary general meeting held on March 5, 2015. A copy of the fifth amended and restated
memorandum and articles of association are filed as Exhibit 4.37 to this Annual Report on Form 20-F. We incorporate by reference
into this annual report the description of the summary of the significant differences between the provisions of the Cayman Islands
Companies Law applicable to our company and the laws applicable to Delaware corporations and their shareholders contained in our
Registration Statement on Form F-1 (File No. 333-168096) originally filed with the SEC on July 14, 2010.

 

We are an exempted company incorporated with limited liability under
the laws of the Cayman Islands and our affairs are governed by:

 

•     Our memorandum and articles of association;

 

•     The Companies Law (2009 Revision) of the Caymans Islands,
which is referred to as the Companies Law below; and

 

•     Common law of the Cayman Islands.

 

The following are summaries of material provisions of our newly
approved fifth amended and restated memorandum and articles of association and the Companies Law insofar as they relate to the
material terms of our share capital. These summaries do not purport to be complete and are subject to our post-offering memorandum
and articles of association to be adopted in connection with the offering and the applicable provisions of Cayman Islands law.

 

Our Board of Directors approved the fifth amended and restated memorandum
and articles of association in December 2014 and our shareholders approved the post-offering memorandum and articles of association
in March 2015.

 

Our authorized share capital consists of 1,200,000,000 Class A ordinary
shares with a par value of US$0.0001 per Class A ordinary share, 200,000,000 Class B ordinary shares with a par value of US$0.0001
per Class B ordinary share and 50,000,000 undesignated preferred shares with a par value of US$0.0001 per preferred share. At March
31, 2015, there were 1,135,792,678 Class A ordinary shares issued and outstanding (including 2,367,296 underlying ordinary shares
held of record by the Depository Trust Company).

 

Amended and restated memorandum and articles of association 

 

The shareholders may by ordinary resolution increase, or by special
resolution decrease, our authorized share capital and may also by special resolution amend our memorandum and articles of association.

 

Ordinary shares 

 

General

 

All of our outstanding ordinary shares are fully paid and non-assessable.
Certificates representing the ordinary shares are issued in registered form. The ordinary shares are not entitled to any preemptive
conversion, subscription or redemption rights. Our shareholders may freely hold and vote their shares.

 

Voting rights 

 

Each Class A ordinary share is entitled to one vote and each Class
B ordinary share is entitled to ten votes on all matters upon which the ordinary shares are entitled to vote, including the election
of directors. Voting at any meeting of shareholders is by a poll. Shareholders may approve corporate matters without a meeting
being held by way of unanimous written resolution signed by or on behalf of each shareholder entitled to vote on such matters at
a shareholders meeting.

 

    	 

    	 

    

 

A quorum required for a meeting of shareholders consists of at least
a number of shareholders present in person or by proxy and entitled to vote representing the holders of not less than one-third
of our issued voting share capital. Shareholders’ meetings are held annually and the Board may call general meetings and
shall, on the requisition of shareholders of the company holding at the date of deposit of the requisition not less than ten percent
(10%) of the paid up capital of the Company as at the date of the deposit which carries the right of voting at general meetings
of the Company, forthwith proceed to convene an extraordinary general meeting of the Company. The requisition must state the objects
of the meeting and must be signed by the requisitionists and deposited at the registered office of the Company and may consist
of several documents in like form each signed by one or more requisitionists. If the Board does not within twenty-one (21) days
from the date of the deposit of the requisition duly proceed to convene a general meeting, the requisitionists, or any of them
representing not less than a majority of the aggregate voting rights of all of them, may themselves convene a general meeting,
but any meeting so convened shall not be held after the expiration of three (3) months after the expiration of the said twenty-one
(21) days. A general meeting convened as aforesaid by requisitionists shall be convened in the same manner as nearly as possible
as that in which general meetings are to be convened by the Board. Advance notice of at least ten calendar days (but not more than
sixty calendar days) is required for the convening of any meeting of shareholders.

 

Any ordinary resolution to be made by the shareholders requires
the affirmative vote of a simple majority of the votes attaching to the ordinary shares cast in person or by proxy at a meeting
of our shareholders. A special resolution requires the affirmative vote of two-thirds of the votes cast in person or by proxy at
a meeting of our shareholders or a unanimous written resolution of all our shareholders. A special resolution is required for matters
such as removing a director for cause, changing our name, amending our memorandum and articles of association and reducing our
authorized share capital. Holders of ordinary shares, which immediately after the offering and prior to any issuance of preferred
shares thereafter are the only shares carrying the right to vote at our shareholder meetings, have the power, among other things,
to elect directors and make changes in the amount of our authorized share capital.

 

Conversion rights attaching to the shares 

 

Each Class B ordinary share is convertible into one Class A ordinary
share at any time by the holder thereof. Class A ordinary shares are not convertible under any circumstances.

 

Difference between Class A and Class B ordinary shares 

 

The difference between the Class A ordinary shares and Class B ordinary
shares are the special voting and conversion rights attached to the Class B ordinary shares as disclosed above.

 

Dividends 

 

The holders of our ordinary shares are entitled to receive such
dividends as may be declared by our board of directors subject to our memorandum and articles of association and the Companies
Law. Dividends may be paid only out of profits, which include net earnings and retained earnings undistributed in prior years,
and out of share premium, a concept analogous to paid-in surplus in the United States. No dividend may be declared and paid unless
our directors determine that immediately after the payment, we will be able to satisfy our liabilities as they become due in the
ordinary course of business and we have funds lawfully available for such purpose.

 

    	 

    	 

    

 

Liquidation 

 

If we were to be liquidated, the liquidator may, with the approval
of our shareholders, divide among the shareholders in cash or in kind the whole or any part of our assets, may determine how such
division shall be carried out as between the shareholders or different classes of shareholder and may vest the whole or any part
of such assets in trustees upon such trusts for the benefit of the shareholders as the liquidator, with the approval of the shareholders,
thinks fit, provided that a shareholder shall not be compelled to accept any shares or other assets that subject such shareholder
to liability.

 

Miscellaneous 

 

Share certificates registered in the names of two or more persons
are deliverable to any one of them named in the share register and, if two or more such persons tender a vote, the vote of the
person whose name first appears in the share register will be accepted to the exclusion of any other.

 

Transfer of shares. Subject to the restrictions of our memorandum
and articles of association, as applicable, any of our shareholders may transfer all or any of his or her ordinary shares by an
instrument of transfer in the usual or common form or any other form approved by our board.

 

Our board of directors may, in its sole discretion, decline to register
any transfer of any ordinary shares which is not fully paid up or on which we have a lien. Our directors may also decline to register
any transfer of any ordinary share unless (a) the instrument of transfer is lodged with us, accompanied by the certificate for
the ordinary shares to which it relates and such other evidence as our board of directors may reasonably require to show the right
of the transferor to make the transfer; (b) the instrument of transfer is in respect of only one class of ordinary shares; (c)
the instrument of transfer is duly and properly signed; (d) in the case of a transfer to joint holders, the number of joint holders
to whom the ordinary share is to be transferred does not exceed four; or (e) a fee of such maximum sum as our board of directors
may from time to time require, is paid to us in respect thereof.

 

If our board of directors refuses to register a transfer, it shall,
within two months after the date on which the instrument of transfer was lodged, send to each of the transferor and the transferee
notice of such refusal. The registration of transfers may be suspended and the register closed at such times and for such periods
as our board of directors may from time to time determine; provided, however that the registration of transfers shall not be suspended
nor the register closed for more than 45 days in any year.

 

Variation of rights of shares. All or any of the special rights
attached to any class of our shares may, unless otherwise provided by the terms of issue of the shares of that class, from time
to time be varied with the sanction of an ordinary resolution passed at a separate meeting of the holders of the shares of that
class.

 

Inspection of books and records. Holders of our ordinary shares
will have no general right under Cayman Islands law to inspect or obtain copies of our list of shareholders or our corporate records.
However, we will provide our shareholders with annual audited financial statements. See “Where you can find more information.”Exhibit 4.53

 

[Shareholder A]

 

[Shareholder B]

 

[E-House Entity]

 

AND

 

[VIE]

 

 

Exclusive Call Option Agreement

 

In Respect Of [VIE]

 

 

[Date]

 

 

EXCLUSIVE CALL OPTION AGREEMENT

 

This EXCLUSIVE CALL OPTION AGREEMENT (this “Agreement”) is entered into as of                                           by and among the following parties:

 

1.             [Shareholder A]

 

Identity Card No.:

 

2.             [Shareholder B]

 

Identity Card No.:

 

([Shareholder A] and [Shareholder B] are hereinafter referred to individually as a “Company Shareholder” and collectively as the “Company Shareholders”.)

 

3.             [E-House Entity] (the “[E-House Entity]”)

 

Registered address:

 

4.             [VIE] (the “Company”)

 

Registered address:

 

(In this Agreement, the above parties are hereinafter referred to individually as a “Party” and collectively as the “Parties”.)

 

WHEREAS:

 

(1)           The Company Shareholders are shareholders of the Company, legally holding all the equity interest in the Company. Appendix 1 sets forth the capital contribution amount and the shareholding percentage of each Company Shareholder in the registered capital of the Company as of the signing date of this Agreement.

 

(2)           To the extent not in violation of the PRC Law, the Company Shareholders intend to transfer all their respective equity interest in the Company to the [E-House Entity] and/or any other entity or individual designated by the [E-House Entity] after the Equity Interest Transfer takes effect, and the [E-House Entity] intends to accept such transfer.

 

(3)           To the extent not in violation of the PRC Law, the Company intends to transfer its assets to the [E-House Entity] and/or any other entity or individual designated by the [E-House Entity] after the Equity Interest Transfer takes effect, and the [E-House Entity] intends to accept such transfer.

 

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(4)           For the purpose of the foregoing equity interest and asset transfer, the Company Shareholders and the Company agree to grant to the [E-House Entity] the exclusive and irrevocable Equity Transfer Option (as defined below) and Asset Purchase Option (as defined below) respectively after the Equity Interest Transfer takes effect. Pursuant to such Equity Transfer Option and Asset Purchase Option, at the [E-House Entity]’s request, the Shareholders or the Company shall, to the extent permitted by the PRC Law, transfer the Option Equity (as defined below) or the Company Assets (as defined below) to the [E-House Entity] and/or any other entity or individual designated by the [E-House Entity] pursuant to the provisions of this Agreement.

 

(5)           The Company agrees that the Company Shareholders grant the Equity Transfer Option to the [E-House Entity] pursuant to the provisions of this Agreement.

 

(6)           The Company Shareholders agree that the Company grants the Asset Purchase Option to the [E-House Entity] pursuant to the provisions of this Agreement.

 

NOW, THEREFORE, the Parties, after consultations, hereby agree as follows:

 

Article 1 Definitions

 

1.1          As used in this Agreement, the following terms shall be interpreted to have the following meanings, unless otherwise interpreted pursuant to the context:

 

“Equity Transfer Option” shall mean the option to purchase the equity interest in the Company as granted to the [E-House Entity] by the Company Shareholders pursuant to the terms and conditions of this Agreement.

 

“Asset Purchase Option” shall mean the option to purchase any Company Assets as granted to the [E-House Entity] by the Company pursuant to the terms and conditions of this Agreement.

 

“Option Equity” shall mean, in respect of each of the Company Shareholders, all the equity interest held by him in the Company Registered Capital respectively as of the effective date of this Agreement; in respect of all the Company Shareholders, the equity interest covering 100% of the Company Registered Capital as of the effective date of this Agreement.

 

“Company Registered Capital” shall mean the registered capital of the Company as of the effective date of this Agreement, i.e. RMB                                , which shall include any expanded registered capital as a result of any capital increase in any form within the term of this Agreement.

 

“Transferred Equity” shall mean the equity interest in the Company which the [E-House Entity] has the right to request either of the Company Shareholders to transfer to it or its designated entity or individual in accordance with Article 3 hereof when the [E-House Entity] exercises its Equity Transfer Option, the quantity of which may be all or part of the Option Equity and the specific amount of which shall be determined by the [E-House Entity] at its sole discretion in accordance with the then-effective PRC Law and based on its commercial consideration.

 

“Transferred Assets” shall mean the Company Assets which the [E-House Entity] has the right to require the Company to transfer to it or its designated entity or individual in accordance with Article 3 hereof when the [E-House Entity] exercises its Asset Purchase Option, the quantity of which may be all or part of the Company Assets and the details of which shall be determined by the [E-House Entity] at its sole discretion in accordance with the then-effective PRC Law and based on its commercial consideration.

 

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“Exercise of Option” shall mean the exercising of the Equity Transfer Option or the Asset Purchase Option by the [E-House Entity].

 

“Transfer Price” shall mean all the consideration that the [E-House Entity] or its designated entity or individual is required to pay to the Company Shareholders or the Company in order to obtain the Transferred Equity or the Transferred Assets upon each Exercise of Option.

 

“Business Permits” shall mean any approvals, permits, filings, registrations, etc. which the Company is required to have for legally and validly operating all its businesses, including without limitation, Business License of Corporate Legal Person, [Operation Permit of Value-added Telecommunication Service] and such other relevant permits and licenses as required by the then-effective PRC Law.

 

“Company Assets” shall mean all the tangible and intangible assets which the Company owns or has the right to dispose of during the valid term of this Agreement, including without limitation, any immoveable and moveable assets, intellectual property rights such as trademarks, copyrights, patents, know-how, domain names and software use rights, and any investment interest.

 

“Material Asset” shall mean any asset which has a book value of RMB100,000 or more or has a material effect on the business operations of any Party.

 

“Material Agreement” shall mean, in respect of the Company, any agreement to which the Company is a party and which has a material effect on the business or assets of the Company; in respect of a Subsidiary, any agreement to which such Subsidiary is a party and which has a material effect on the business or assets of such Subsidiary.

 

“PRC” shall mean the People’s Republic of China, which, for purpose of this Agreement only, excludes Hong Kong Special Administrative Region, Macao Special Administrative Region and Taiwan.

 

“PRC Law” shall mean the then-effective laws, administrative regulations, administrative rules, local regulations, judicial interpretations and other binding regulatory documents of the PRC.

 

“Exercise Notice” shall have the meaning prescribed to such term in Article 3.7 hereof.

 

“Subsidiary” shall have the meaning prescribed to such term in Article 6.1.10 hereof.

 

“Confidential Information” shall have the meaning prescribed to such term in Article 8.1 hereof.

 

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“Disclosing Party” shall have the meaning prescribed to such term in Article 8.1 hereof.

 

“Receiving Party” shall have the meaning prescribed to such term in Article 8.1 hereof.

 

“Defaulting Party” shall have the meaning prescribed to such term in Article 11.1 hereof.

 

“Default” shall have the meaning prescribed to such term in Article 11.1 hereof.

 

“Available Rights” shall have the meaning prescribed to such term in Article 12.5 hereof.

 

1.2          The references to any PRC Law herein shall be deemed:

 

(1)           simultaneously to include the references to the amendments, changes, supplements and restatement of such PRC Law, irrespective of whether they take effect before or after the execution of this Agreement; and

 

(2)           simultaneously to include the references to other decisions, notices and regulations enacted in accordance therewith or effective as a result thereof.

 

1.3          Except as otherwise stated in the context herein, all references to an Article, clause, item or paragraph shall refer to the corresponding part of this Agreement.

 

Article 2 Grant of Equity Transfer Option and Asset Purchase Option

 

2.1          The Company Shareholders hereby severally and jointly agree to grant, upon this Agreement taking effect, the [E-House Entity] an irrevocable, unconditional and exclusive Equity Transfer Option. Pursuant to such Equity Transfer Option, the [E-House Entity] is entitled to, to the extent permitted by the PRC Law, request the Company Shareholders to transfer the Option Equity to the [E-House Entity] or its designated entity or individual according to the terms and conditions hereunder. The [E-House Entity] also agrees to accept such Equity Transfer Option.

 

2.2          The Company hereby agrees that the Company Shareholders grant such Equity Transfer Option to the [E-House Entity] according to Article 2.1 above and other provisions of this Agreement.

 

2.3          The Company hereby agrees to grant, upon this Agreement taking effect, the [E-House Entity] an irrevocable, unconditional and exclusive Asset Purchase Option. Pursuant to such Asset Purchase Option, the [E-House Entity] is entitled to, to the extent permitted by the PRC Law, request the Company to transfer all or part of the Company Assets to the [E-House Entity] or its designated entity or individual according to the terms and conditions hereunder. The [E-House Entity] also agrees to accept such Asset Purchase Option.

 

2.4          The Company Shareholders hereby severally and jointly agree that the Company grants such Asset Purchase Option to the [E-House Entity] according to Article 2.3 above and other provisions of this Agreement.

 

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Article 3 Method of Exercise of Option

 

3.1          Subject to the terms and conditions of this Agreement, the [E-House Entity] shall have the absolute sole discretion to determine the specific time, method and times of its Exercise of Option to the extent permitted by the PRC Law.

 

3.2          Subject to the terms and conditions of this Agreement and to the extent not in violation of the then-effective PRC Law, the [E-House Entity] shall have the right to, at any time, request to acquire the Transferred Equity from the Company Shareholders by itself or through any other entity or individual designated by it.

 

3.3          Subject to the terms and conditions of this Agreement and to the extent not in violation of the then-effective PRC Law, the [E-House Entity] shall have the right to, at any time, request to acquire the Transferred Assets from the Company by itself or through any other entity or individual designated by it.

 

3.4          With regard to the Equity Transfer Option, at each Exercise of Option, the [E-House Entity] shall have the right to arbitrarily determine the amount of the Transferred Equity to be transferred by the Company Shareholders to the [E-House Entity] and/or any other entity or individual designated by it. The Company Shareholders shall respectively transfer the Transferred Equity to the [E-House Entity] and/or any other entity or individual designated by it in the amount requested by the [E-House Entity]. The [E-House Entity] and/or any other entity or individual designated by it shall pay the Transfer Price with respect to the Transferred Equity acquired at each Exercise of Option to the Company Shareholder transferring such Transferred Equity.

 

3.5          With regard to the Asset Purchase Option, at each Exercise of Option, the [E-House Entity] shall have the right to determine the specific Company Assets to be transferred by the Company to the [E-House Entity] and/or any other entity or individual designated by it. The Company shall transfer the Transferred Assets to the [E-House Entity] and/or any other entity or individual designated by it in accordance with the [E-House Entity]’s requirement. The [E-House Entity] and/or any other entity or individual designated by it shall pay the Transfer Price to the Company with respect to the Transferred Assets acquired at each Exercise of Option.

 

3.6          At each Exercise of Option, the [E-House Entity] may acquire the Transferred Equity or Transferred Assets by itself or designate any third party to acquire all or part of the Transferred Equity or Transferred Assets.

 

3.7          Having decided each Exercise of Option, the [E-House Entity] shall issue to the Company Shareholders or the Company a notice for exercising the Equity Transfer Option or a notice for exercising the Asset Purchase Option (the “Exercise Notice”, the form of which are set out in Annex 2 and Annex 3 hereto). The Company Shareholders or the Company shall, upon receipt of the Exercise Notice, forthwith transfer all the Transferred Equity or Transferred Assets in accordance with the Exercise Notice to the [E-House Entity] and/or any other entity or individual designated by the [E-House Entity] in such method as described in Article 3.4 or Article 3.5 hereof.

 

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Article 4 Transfer Price

 

4.1          With regard to the Equity Transfer Option, the total Transfer Price to be paid by the [E-House Entity] or any other entity or individual designated by the [E-House Entity] to each Company Shareholder at each Exercise of Option by the [E-House Entity] shall be the capital contribution mirrored by the corresponding Transferred Equity in the Company Registered Capital. But if the lowest price permitted by the then-effective PRC Law is higher than the above capital contribution, the Transfer Price shall be the lowest price permitted by the PRC Law.

 

4.2          With regard to the Asset Purchase Option, the Transfer Price to be paid by the [E-House Entity] or any other entity or individual designated by the [E-House Entity] to the Company at each Exercise of Option by the [E-House Entity] shall be the net book value of the relevant Transferred Assets. But if the lowest price permitted by the then-effective PRC Law is higher than the net book value of the Transferred Assets, the Transfer Price shall be the lowest price permitted by the PRC Law.

 

Article 5 Representations and Warranties

 

5.1          The Company Shareholders hereby severally and jointly represent and warrant that:

 

5.1.1       Each of the Company Shareholders is a Chinese citizen with full capacity. Each of them has the full and independent legal status and legal capacity to execute, deliver and perform this Agreement and may act independently as a party to lawsuit.

 

5.1.2       The Company is a limited liability company duly registered and legitimately existing under the PRC Law with an independent legal personality. It has the full and independent legal status and legal capacity to execute, deliver and perform this Agreement and may act independently as a party to lawsuit.

 

5.1.3       Upon this Agreement taking effect, each of them has the full power and authority to execute, deliver and perform this Agreement and all other documents relating to the transaction contemplated hereby and to be executed by him. Each of them has the full power and authority to consummate the transaction contemplated hereby.

 

5.1.4       This Agreement is legally and duly executed and delivered by the Company Shareholders. After taking effect, this Agreement shall constitute their legal and binding obligations and shall be enforceable against them in accordance with the terms of this Agreement.

 

5.1.5       The Company Shareholders are the legitimate owners of the Option Equity as of the effective date of this Agreement, and except for the rights created under the Equity Pledge Agreement and Shareholder Voting Rights Proxy Agreement executed by the Company, the [E-House Entity] and the Company Shareholders on the date hereof, the Option Equity is free from and clear of any lien, pledge, claim and other encumbrances and third party rights. Pursuant to this Agreement, the [E-House Entity] and/or any other entity or individual designated by it may, after the Exercise of Option, acquire a good title to the Transferred Equity, free from and clear of any lien, pledge, claim and other encumbrances or third party rights.

 

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5.1.6       To the knowledge of the Company Shareholders, as of the effective date of this Agreement, the Company Assets are free from and clear of any lien, mortgage, claim and other encumbrances and third party rights. Pursuant to this Agreement, the [E-House Entity] and/or any other entity or individual designated by it may, after the Exercise of Option, acquire a good title to the Company Assets, free from and clear of any lien, mortgage, claim and other encumbrances or third party rights.

 

5.1.7       The execution, delivery and performance by the Company Shareholders of this Agreement and the consummation by the Company Shareholders of the transaction contemplated hereby do not violate any PRC Law or any agreement, contract or other arrangement with any third party by which they are bound.

 

5.2          The Company hereby represents and warrants that:

 

5.2.1       The Company is a limited liability company duly registered and legitimately existing under the PRC Law with an independent legal personality. It has the full and independent legal status and legal capacity to execute, deliver and perform this Agreement and may act independently as a party to lawsuit.

 

5.2.2       The Company has the full internal corporate power and authority to execute, deliver and perform this Agreement and all other documents relating to the transaction contemplated hereby and to be executed by it. It has the full power and authority to consummate the transaction contemplated hereby.

 

5.2.3       This Agreement is legally and duly executed and delivered by the Company. After taking effect, this Agreement shall constitute the legal and binding obligation against it.

 

5.2.4       The Company Assets are free from and clear of any lien, mortgage, claim and other encumbrances and third party rights. Pursuant to this Agreement, the [E-House Entity] and/or any other entity or individual designated by it may, after the Exercise of Option, acquire a good title to the Company Assets, free from and clear of any lien, mortgage, claim and other encumbrances or third party rights.

 

5.2.5       The execution, delivery and performance by the Company of this Agreement and the consummation by the Company of the transaction contemplated hereby do not violate any PRC Law or any agreement, contract or other arrangement with any third party by which it is bound.

 

5.3          The [E-House Entity] hereby represents and warrants that:

 

5.3.1       The [E-House Entity] is a                                                  enterprise duly registered and legitimately existing under the PRC Law with an independent legal personality. The [E-House Entity] has the full and independent legal status and legal capacity to execute, deliver and perform this Agreement and may act independently as a party to lawsuit.

 

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5.3.2       The [E-House Entity] has the full internal corporate power and authority to execute, deliver and perform this Agreement and all other documents relating to the transaction contemplated hereby and to be executed by it. It has the full power and authority to consummate the transaction contemplated hereby.

 

5.3.3       This Agreement is legally and duly executed and delivered by the [E-House Entity]. After taking effect, this Agreement shall constitute the legal and binding obligation against it.

 

Article 6 Undertakings by the Company Shareholders

 

Each of the Company Shareholders hereby severally undertakes that:

 

6.1          Within the valid term of this Agreement, without the [E-House Entity]’s prior written consent:

 

6.1.1       any Company Shareholder shall not transfer or otherwise dispose of any Option Equity or create any encumbrance or other third party rights on any Option Equity;

 

6.1.2       he shall not increase or decrease the Company Registered Capital or cause or permit the Company to be divided or merged with any other entity;

 

6.1.3       he shall not dispose of or cause the management of the Company to dispose of any Material Asset (other than in the ordinary course of business), or create any encumbrance or other third party rights on any Material Asset;

 

6.1.4       he shall not terminate or cause the management of the Company to terminate any Material Agreement entered into by the Company, or enter into any other agreement in conflict with the existing Material Agreements;

 

6.1.5       he shall not appoint or dismiss and replace any director or supervisor of the Company or any other management personnel of the Company who shall be appointed or dismissed by the Company Shareholders;

 

6.1.6       he shall not cause the Company to declare the distribution of or in practice release any distributable profit, dividend, share profit or share interest;

 

6.1.7       he shall ensure that the Company validly exists and is not terminated, liquidated or dissolved;

 

6.1.8       he shall not amend the articles of association of the Company;

 

6.1.9       he shall ensure that the Company will not lend or borrow any money, or provide any guaranty or engage in security activities in any other form, or bear any substantial obligations other than in the ordinary course of business; and

 

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6.1.10     it shall not cause the Company or the management of the Company to approve any of the following acts of any of the Company’s subsidiaries or affiliates (collectively, the “Subsidiaries”):

 

(a)           increase or decrease any Subsidiary’s registered capital or cause or permit any Subsidiary to be divided or merged with any other entity;

 

(b)           dispose of or cause the management of the Subsidiaries to dispose of any Material Asset of any Subsidiary (other than in the ordinary course of business), or create any encumbrance or other third party rights on such assets;

 

(c)           terminate or cause the management of the Subsidiaries to terminate any Material Agreement entered into by any Subsidiary, or enter into any other agreement in conflict with the existing Material Agreements;

 

(d)           appoint or dismiss and replace any director or supervisor of any Subsidiary or any other management personnel of such Subsidiary who shall be appointed or dismissed by the Company;

 

(e)           terminate, liquidate or dissolve any Subsidiary or act in any way that damages or is likely to damage the valid existence of any Subsidiary;

 

(f)            amend the articles of association of any Subsidiary; and

 

(g)           lend or borrow any money, or provide any guaranty or engage in security activities in any other form, or bear any substantial obligations other than in the ordinary course of business.

 

6.2          Within the valid term of this Agreement, he shall use his best endeavor to develop the business of the Company and ensure that the Company’s operations are legal and in compliance with the regulations, and he will not engage in any act or omission which may damage the Company’s (including the Subsidiaries’) assets and goodwill or affect the validity of the Business Permits of the Company.

 

6.3          Within the valid term of this Agreement, he shall timely notify the [E-House Entity] of any circumstances that may have a material adverse effect on the existence, business operations, financial conditions, assets or goodwill of the Company (including the Subsidiaries) and timely take all the measures approved by the [E-House Entity] to remove such adverse circumstances or take effective remedial measures with respect thereto.

 

6.4          With the valid term of this Agreement, once the [E-House Entity] gives the Exercise Notice,

 

6.4.1       he shall promptly convene a shareholders’ meeting, pass shareholders’ resolutions and take all other necessary actions to approve any Company Shareholder or the Company to transfer all the Transferred Equity or the Transferred Assets at the Transfer Price to the [E-House Entity] and/or any other entity or individual designated by the [E-House Entity], and waive any preemptive right to purchase enjoyed by him (if any);

 

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6.4.2       he shall promptly enter into an equity transfer agreement with the [E-House Entity] and/or any other entity or individual designated by the [E-House Entity] to transfer all the Transferred Equity at the Transfer Price to the [E-House Entity] and/or any other entity or individual designated by the [E-House Entity] and provide necessary support to the [E-House Entity] (including provision and execution of all relevant legal documents, performing all government approval and registration procedures and assuming all relevant obligations) in accordance with the [E-House Entity]’s requirements and the PRC Law so that the [E-House Entity] and/or any other entity or individual designated by the [E-House Entity] may acquire all the Transferred Equity, free from and clear of any legal defect or any encumbrance, third party restriction or any other restrictions on the Transferred Equity.

 

6.5          If the total Transfer Price obtained by any Company Shareholder with respect to the Transferred Equity held by him is higher than the capital contribution corresponded with such Transferred Equity in the Company Registered Capital, or he receives any form of profit distribution, share profit, share interest or dividend from the Company, then such Company Shareholder agrees to, to the extent no in violation of the PRC Law, waive the premium earnings and any profit distribution, share profit, share interest or dividend (after the deduction of relevant taxes) and the [E-House Entity] is entitled thereto. Otherwise, such Company Shareholder shall compensate the [E-House Entity] and/or any other entity or individual designated by the [E-House Entity] for any loss incurred as a result thereof.

 

Article 7 Undertakings by the Company

 

7.1          The Company hereby undertakes that:

 

7.1.1       If any consent, permit, waiver or authorization by any third party, or any approval, permit or exemption by any government authority, or any registration or filing formalities (if required by law) with any government authority needs to be obtained or handled with respect to the execution and performance of this Agreement and the grant of the Equity Transfer Option or Asset Purchase Option hereunder, the Company shall endeavor to assist in satisfying the above conditions.

 

7.1.2       Without the [E-House Entity]’s prior written consent, the Company shall not assist or permit the Company Shareholders to transfer or otherwise dispose of any Option Equity or create any encumbrance or other third party rights on any Option Equity.

 

7.1.3       Without the [E-House Entity]’s prior written consent, the Company shall not transfer or otherwise dispose of any Material Asset (other than in the ordinary course of business) or create any encumbrance or other third party rights on any Company Assets.

 

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7.1.4       The Company shall not do or permit to be done any behavior or action that may adversely affect the interests of the [E-House Entity] under this Agreement, including without limitation, any behavior and action that is subject to Article 6.1.

 

7.2          With the valid term of this Agreement, once the [E-House Entity] gives the Exercise Notice,

 

7.2.1       it shall promptly cause the Company Shareholders to convene a shareholders’ meeting, pass shareholders’ resolutions and take all other necessary actions to approve the Company to transfer all the Transferred Assets at the Transfer Price to the [E-House Entity] and/or any other entity or individual designated by the [E-House Entity];

 

7.2.2       it shall promptly enter into an asset transfer agreement with the [E-House Entity] and/or any other entity or individual designated by the [E-House Entity] to transfer all the Transferred Assets at the Transfer Price to the [E-House Entity] and/or any other entity or individual designated by the [E-House Entity], and cause the Company Shareholders to provide necessary support to the [E-House Entity] (including provision and execution of all relevant legal documents, performing all government approval and registration procedures and assuming all relevant obligations) in accordance with the [E-House Entity]’s requirements and the PRC Law so that the [E-House Entity] and/or any other entity or individual designated by the [E-House Entity] may acquire all the Transferred Assets, free from and clear of any legal defect or any encumbrance, third party restriction or any other restrictions on the Transferred Assets.

 

Article 8 Confidentiality Obligations

 

8.1          Regardless of whether this Agreement is terminated or not, each Party shall keep strictly confidential all the business secrets, proprietary information, customer information and all other information of a confidential nature about the other Parties known by it during the execution and performance of this Agreement (collectively, the “Confidential Information”). Unless a prior written consent is obtained from the Party disclosing the Confidential Information (the “Disclosing Party”) or unless it is required to be disclosed to third parties according to the stipulation of relevant laws and regulations or the requirement of the place where its affiliate is listed on a stock exchange, the Party receiving the Confidential Information (the “Receiving Party”) shall not disclose to any third party any Confidential Information. The Receiving Party shall not use any Confidential Information other than for the purpose of performing this Agreement.

 

8.2          The following information shall not be deemed part of the Confidential Information:

 

(1)           any information that has been lawfully acquired by the receiving Party before as evidenced by written documents;

 

(2)           any information entering the public domain not attributable to the fault of the Party receiving the information; or

 

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(3)           any information lawfully acquired by the Party receiving the information through other sources after its receipt of such information.

 

8.3          For purpose of performing this Agreement, the Receiving Party may disclose the Confidential Information to its relevant employees, agents or professionals retained by it. However, the Receiving Party shall ensure that the aforesaid persons shall comply with the relevant terms and conditions of this Article 8. In addition, the Receiving Party shall be responsible for any liability incurred as a result of such persons’ breach of the relevant terms and conditions of this Article 8.

 

8.4          Notwithstanding any other provision herein, the effect of this Article 8 shall not be affected by the termination of this Agreement.

 

Article 9 Term of Agreement

 

After being duly executed by the Parties, this Agreement shall become effective immediately upon the Equity Interest Transfer taking effect. This Agreement shall terminate after all the Option Equity and the Company Assets are lawfully transferred to the [E-House Entity] and/or any other entity or individual designated by the [E-House Entity] pursuant to the provisions of this Agreement.

 

Article 10 Notices

 

10.1        Any notice, request, demand and other correspondences required by this Agreement or made in accordance with this Agreement shall be delivered in writing to the relevant Party.

 

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

 

Article 11 Defaulting Liability

 

11.1        The Parties agree and confirm that, if any of the Parties (the “Defaulting Party”) substantially violates any agreement herein or substantially fails to perform or delays performance of any of the obligations hereunder, such violation, failure or delay shall constitute a default under this Agreement (a “Default”). The non-defaulting Party shall have the right to request the Defaulting Party to rectify or take remedial actions within a reasonable period. If the Defaulting Party fails to rectify such Default or take remedial actions within such reasonable period or within ten (10) days after the non-defaulting Party notifies the Defaulting Party in writing requiring the Default to be rectified, then the non-defaulting Party is entitled to decide at its own discretion that:

 

11.1.1     if any Company Shareholder or the Company is the Defaulting Party, the [E-House Entity] shall be entitled to terminate this Agreement and require the Defaulting Party to indemnify the damages;

 

11.1.2     if the [E-House Entity] is the Defaulting Party, the non-defaulting Party shall be entitled to require the Defaulting Party to indemnify the damages, but unless otherwise provided for by the PRC Law, the non-defaulting Party has no right to terminate or cancel this Agreement in any circumstances.

 

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11.2        Notwithstanding any other provision herein, the effect of this Article 11 shall not be affected by the termination of this Agreement.

 

Article 12 Miscellaneous

 

12.1        This Agreement is written in Chinese and executed in four (4) originals, with one (1) original to be retained by each Party hereto.

 

12.2        The execution, effectiveness, performance, revision, interpretation and termination of this Agreement shall be governed by the PRC Law.

 

12.3        Any dispute arising out of and in connection with this Agreement shall be resolved through consultations among the Parties. In case the Parties fail to reach agreement within thirty (30) days after the dispute arises, such dispute shall be submitted to China International Economic and Trade Arbitration Commission Shanghai Commission for arbitration in Shanghai in accordance with such Commission’s arbitration rules in effect at the time of applying for arbitration, and the arbitration award shall be final and binding on the Parties.

 

12.4        None of the rights, powers or remedies granted to any Party by any provision herein shall preclude any other rights, powers or remedies available to such Party at law and under the other provisions of this Agreement. In addition, the exercising by one Party of any of its rights, powers and remedies shall not exclude such Party from exercising any of its other rights, powers and remedies.

 

12.5        No failure or delay by a Party in exercising any rights, powers and remedies available to it hereunder or at law (the “Available Rights”) shall result in a waiver thereof, nor shall the waiver of any single or partial exercise of the Available Rights shall exclude such Party from exercising such rights in any other way and exercising the other Available Rights.

 

12.6        The headings of the provisions herein are for reference only, and in no event shall such headings be used for or affect the interpretation of the provisions hereof.

 

12.7        Each provision contained herein shall be severable and independent from each of the other provisions. If any one or more provisions herein become(s) invalid, illegal or unenforceable at any time, the validity, legality and enforceability of the remaining provisions herein shall not be affected as a result thereof.

 

12.8        This Agreement, when effective, shall supersede any prior other legal documents executed by and among the Parties with respect to the subject matter hereof. Any amendment or supplement hereto shall be made in writing and shall become effective only upon due execution by the Parties hereto.

 

12.9        Without the [E-House Entity]’s prior written consent, each Company Shareholder or the Company shall not transfer any of its rights and/or obligations hereunder to any third party. The Company Shareholders and the Company hereby agree that the [E-House Entity] is entitled to transfer any of its rights and/or obligations hereunder to any third party upon written notice thereof to the Company Shareholders and the Company.

 

12.10      This Agreement shall be binding on the legal assignees or successors of the Parties.

 

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15

 

[SIGNATURE PAGE]

 

IN WITNESS WHEREOF, the following Parties have executed this Exclusive Call Option Agreement as of the date first above written.

 

	
[Shareholder   A]
    	
 
    
	
By:
    	
/s/
    	
 
    
	
 
    	
 
    
	
[Shareholder   B]
    	
 
    
	
By:
    	
/s/
    	
 
    
	
 
    	
 
    
	
[E-House   Entity]
    	
 
    
	
(Seal)
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
/s/
    	
 
    
	
 
    	
 
    
	
[VIE]
    	
 
    
	
(Seal)
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
/s/
    	
 
    

 

16

 

Annex 1:

 

Company’s General Information

 

Company name:

 

Registered address:

 

Registered capital:       RMB

 

Legal Representative:

 

Shareholding structure:

 

	
Shareholder’s name
    	
 
    	
Contribution in
   registered capital
    	
 
    	
Percentage of
   contribution
    	
 
    	
Method of
   contribution
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
[Shareholder A]
    	
 
    	
RMB
    	
 
    	
 
    	
%
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
[Shareholder B]
    	
 
    	
RMB
    	
 
    	
 
    	
%
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Total
    	
 
    	
RMB
    	
 
    	
100
    	
%
    	
/
    	
 
    

 

17

 

Annex 2:

 

Form of Exercise Notice

 

To: [Name of the Company Shareholder]

 

WHEREAS, we, [VIE] (the “Company”), [name of the other Company Shareholder] and you entered into an Exclusive Call Option Agreement (the “Option Agreement”) on                                                       and reached an agreement that you shall transfer the equity interest you hold in the Company to us or any third party designated by us at our request to the extent permitted by the PRC laws and regulations.

 

Therefore, we hereby give this notice to you as follows:

 

We hereby request to exercise the Equity Transfer Option under the Option Agreement and we/[name of company/individual] designated by us will acquire the          % of the equity interest you hold in the Company (the “Proposed Acquired Equity”). Upon your receipt of this notice, you shall immediately transfer all the Proposed Acquired Equity to us/[name of designated company/individual] pursuant to the provisions of the Option Agreement.

 

	
Regards,
    	
 
    
	
 
    	
 
    
	
 
    	
[E-House Entity]
    
	
 
    	
(Seal)
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Authorized representative:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Date:
    

 

18

 

Annex 3:

 

Form of Exercise Notice

 

To: [VIE]

 

WHEREAS, we, [Shareholder A], [Shareholder B] and you entered into an Exclusive Call Option Agreement (the “Option Agreement”) on                                         and reached an agreement that you shall transfer your assets to us or any third party designated by us at our request to the extent permitted by the PRC laws and regulations.

 

Therefore, we hereby give this notice to you as follows:

 

We hereby require to exercise the Asset Purchase Option under the Option Agreement and we/[name of company/individual] designated by us will acquire the assets owned by you as stated in a separate list (the “Proposed Acquired Assets”). Upon your receipt of this notice, you shall immediately transfer all the Proposed Acquired Assets to us/[name of designated company/individual] pursuant to the provisions of the Option Agreement.

 

	
Regards,
    	
 
    
	
 
    	
 
    
	
 
    	
[E-House Entity]
    
	
 
    	
(Seal)
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Authorized representative:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Date:
    

 

19

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