Document:

EX-10.5

 Exhibit 10.5 

NON-COMPETITION AGREEMENT 

Between 
 CREDITEASE
HOLDINGS (CAYMAN) LIMITED 
 And 

YIRENDAI LTD. 
 Dated as
of November 9, 2015 

 TABLE OF CONTENTS 

 

							
	 ARTICLE 1
	   

	
	 DEFINITIONS.
	   

			
	 Section 1.1
	 	Defined Terms	  	 	1	  
		
	 ARTICLE 2
	  			
		
	 NON-COMPETITION.
	  			
			
	 Section 2.1
	 	Undertaking of the CreditEase Group	  	 	3	  
	 Section 2.2
	 	Undertaking of the Yirendai Group	  	 	4	  
	
	 ARTICLE 3
	   

	
	 NON-SOLICITATION.
	   

			
	 Section 3.1
	 	Non-Solicitation by CreditEase	  	 	4	  
	 Section 3.2
	 	Non-Solicitation by Yirendai	  	 	4	  
	
	 ARTICLE 4
	   

	
	 MISCELLANEOUS.
	   

			
	 Section 4.1
	 	Consent	  	 	5	  
	 Section 4.2
	 	Limitation of Liability	  	 	5	  
	 Section 4.3
	 	Termination	  	 	5	  
	 Section 4.4
	 	Amendment	  	 	5	  
	 Section 4.5
	 	Notices	  	 	5	  
	 Section 4.6
	 	Governing Law	  	 	6	  
	 Section 4.7
	 	Dispute Resolution	  	 	6	  
	 Section 4.8
	 	Authority	  	 	6	  
	 Section 4.9
	 	Entire Agreement	  	 	7	  
	 Section 4.10
	 	Severability	  	 	7	  
	 Section 4.11
	 	Failure or Indulgence not Waiver; Specific Performance; Remedies Cumulative	  	 	7	  
	 Section 4.12
	 	Binding Effect; Assignment	  	 	7	  
	 Section 4.13
	 	Inconsistency	  	 	7	  
	 Section 4.14
	 	Interpretation	  	 	8	  
	 Section 4.15
	 	Counterparts	  	 	8	  

  
 i 

 NON-COMPETITION AGREEMENT 

This Non-Competition Agreement (this “Agreement”) is dated as of November 9, 2015, by and between CreditEase Holdings
(Cayman) Limited, a company incorporated under the laws of the Cayman Islands (“CreditEase”), and Yirendai Ltd., a company incorporated under the laws of the Cayman Islands (“Yirendai”) (each of CreditEase and
Yirendai a “Party” and, together, the “Parties”). 
 Capitalized terms used herein and not
otherwise defined shall have the meanings ascribed to such terms in Article 1 hereof. 
 RECITALS 

WHEREAS, as of the date hereof, Yirendai is a wholly owned subsidiary of CreditEase; 

WHEREAS, CreditEase has been engaged in the Yirendai Business through Yirendai and/or Yirendai’s subsidiaries and VIE, as more
fully described in a draft Registration Statement on Form F-1 confidentially submitted for review and comment by the SEC under the U.S. Securities Act of 1933, as amended, to be filed publicly with the SEC via its EDGAR system following the
substantial completion of such review and comment and as financial market conditions permit (as so filed, and as amended thereafter from time to time, the “IPO Registration Statement”); 

WHEREAS, prior to the date hereof, all of the then existing assets and liabilities in connection with the Yirendai Business have already been
transferred to or assumed by Yirendai and/or its subsidiaries and VIE; 
 WHEREAS, the Parties currently contemplate that Yirendai
will make an initial public offering (the “IPO”) pursuant to the IPO Registration Statement; and 
 WHEREAS, the
Parties intend in this Agreement to set forth the principal terms and conditions with respect to their agreement not to compete with each other or solicit the employees of each other following the IPO Completion Date; 

NOW, THEREFORE, in consideration of the mutual agreements, covenants and provisions contained in this Agreement, the Parties, intending to be
legally bound, agree as follows: 
 ARTICLE 1 

DEFINITIONS. 

Section 1.1 Defined Terms. The following capitalized terms have the meanings given to them in this Section 1.1: 

“ADSs” means American depositary shares representing Ordinary Shares. 

“Agreement” means this Non-Competition Agreement, as the same may be amended from time to time in accordance with the
provisions hereof. 

  
 1 

 “Control Ending Date” means the earlier of (i) the first date upon
which members of the CreditEase Group no longer collectively own at least twenty percent (20%) of the voting power of the then outstanding securities of Yirendai and (ii) the first date upon which CreditEase, collectively with the other
members of the CreditEase Group, ceases to be the largest beneficial owner of the then outstanding voting securities of Yirendai (for purposes of this clause (ii), without considering holdings of institutional investors that have acquired Yirendai
securities in the ordinary course of their business and not with a purpose nor with the effect of changing or influencing the control of Yirendai).  

“CreditEase” has the meaning set forth in the preamble to this Agreement. 

“CreditEase Business” means any business conducted by CreditEase and its subsidiaries and VIEs, other than the
Yirendai Business. 
 “CreditEase Group” means CreditEase and its subsidiaries and VIEs, other than Yirendai
and its subsidiaries and VIE. 
 “Dispute” has the meaning set forth in Section 4.7 of this Agreement.
 
 “Dispute Resolution Commencement Date” has the meaning set forth in Section 4.7 of this Agreement.
 
 “IPO” has the meaning ascribed to it in the recitals to this Agreement. 

“IPO Completion Date” means the closing date of the IPO, on which the delivery of and payment for the securities
offered by Yirendai (excluding securities offered by Yirendai upon underwriter(s)’ exercise of over-allotment option) in connection with the IPO will take place.  

“IPO Registration Statement” has the meaning ascribed to it in the recitals to this Agreement. 

“Master Transaction Agreement” means the Master Transaction Agreement between the Parties dated the date hereof, as
the same may be amended and supplemented in accordance with the provisions thereof. 
 “Non-Competition
Period” means the period beginning from the IPO Completion Date and ending on the earlier of: 
 (a) one year after the
Control Ending Date; 
 (b) the date on which the ADSs representing Ordinary Shares of Yirendai cease to be listed on NASDAQ or the New York
Stock Exchange (except for temporary suspension of trading of the ADSs); and 
 (c) the fifteenth anniversary of the IPO Completion Date.

 “Ordinary Shares” means the shares of Yirendai, par value $0.0001 per share (including shares represented by ADSs
and held of record by the depositary bank for the ADSs). 

  
 2 

 “Party” or “Parties” has the meaning set forth in the
preamble of this Agreement. 
 “Person” means an individual, a partnership, a corporation, a limited
liability company, an association, a joint stock company, a trust, a joint venture, an unincorporated organization or a governmental entity or any department, agency or political subdivision thereof. 

“SEC” means the U.S. Securities and Exchange Commission. 

“VIE” of any Person means any entity that is controlled by such Person and is deemed to be a variable interest entity
consolidated with such Person for purposes of generally accepted accounting principles in the United States as in effect from time to time. As used herein, “control” means the possession, directly or indirectly, of the power to direct or
cause the direction of the management and policies of such entity, whether through ownership of voting securities or other interests, by contract or otherwise. 

“Yirendai” has the meaning set forth in the preamble to this Agreement. 

“Yirendai Business” means (a) the operation of online consumer finance marketplace connecting investors and
individual borrowers and facilitating unsecured loan products, and provision of related services, as currently conducted or contemplated to be conducted by Yirendai and its subsidiaries and VIE anywhere in the world, as more completely described in
the IPO Registration Statement, and (b) other businesses that the Parties may mutually agree from time to time to be part of Yirendai Business. 

“Yirendai Group” means Yirendai and its subsidiaries and VIE. 

ARTICLE 2 

NON-COMPETITION. 

Section 2.1 Undertaking of the CreditEase Group. During the Non-Competition Period, CreditEase will not, and will cause each of
the other members of the CreditEase Group not to, other than through the Yirendai Group, directly or indirectly be engaged, invest, participate or otherwise be interested in, whether on its own account or with each other or in conjunction with or on
behalf of any person, (i) the Yirendai Business or (ii) any business that is of the same nature as the Yirendai Business. Notwithstanding the foregoing, any member of the CreditEase Group shall not be prohibited from: 

(a) being engaged in the Yirendai Business or any business that is of the same nature as the Yirendai Business through contracts, engagements
with or on behalf of any member of the Yirendai Group; 
 (b) continuing to engage in the CreditEase Business that the CreditEase Group
engages as of the date of this Agreement; or 
 (c) holding shares, invest or otherwise being interested in, beneficially or of record, no
more than 50% (calculated on an aggregate basis combining any such ownership by any members of the CreditEase Group) of the equity or its equivalent of any company (other than Yirendai) that engages in any business that is of the same nature as the
Yirendai Business; provided that the CreditEase Group does not have board or management control of such company. 

  
 3 

 Section 2.2 Undertaking of the Yirendai Group. During the Non-Competition Period,
Yirendai will not, and will cause each of the other members of the Yirendai Group not to, directly or indirectly be engaged, invest, participate or otherwise be interested in, whether on its own account or with each other or in conjunction with or
on behalf of any person, (i) the CreditEase Business or (ii) any business that is of the same nature as the CreditEase Business. Notwithstanding the foregoing, any member of the Yirendai Group shall not be prohibited from: 

(a) being engaged in CreditEase Business or any business that is of the same nature as the CreditEase Business through contracts, engagements
with or on behalf of any member of the CreditEase Group; or 
 (b) holding shares, invest or otherwise being interested in, beneficially or
of record, no more than 50% (calculated on an aggregate basis combining any such ownership by any members of the Yirendai Group) of the equity or its equivalent of any company that engages in any business that is of the same nature as the CreditEase
Business; provided that the Yirendai Group does not have board or management control of such company. 
 ARTICLE 3 

NON-SOLICITATION. 

Section 3.1 Non-Solicitation by CreditEase. During the Non-Competition Period, CreditEase will not, and will cause
each other member of the CreditEase Group not to, directly or indirectly, hire, or solicit for hire, any active employees of or individuals providing consulting services to any member of the Yirendai Group, or any former employees of or individuals
providing consulting services to any member of the Yirendai Group within six months of the termination of their employment with or consulting services to the member of the Yirendai Group, without Yirendai’s consent; provided that the
foregoing shall not prohibit any solicitation activities through generalized non-targeted advertisement not directed to such employees or individuals that do not result in the hiring of any such employees or individuals by the CreditEase Group
within the Non-Competition Period.  
 Section 3.2 Non-Solicitation by Yirendai. During the Non-Competition
Period, Yirendai will not, and will cause each other member of the Yirendai Group not to, directly or indirectly, solicit or hire any active employees of or individuals providing consulting services to any member of the CreditEase Group, or any
former employees of or individuals providing consulting services to any member of the CreditEase Group within six months of the termination of their employment with or consulting to the member of the CreditEase Group, without CreditEase’s
consent; provided that the foregoing shall not prohibit any solicitation activities through generalized non-targeted advertisement not directed to such employees or individuals that do not result in the hiring of any such employees or
individuals by the Yirendai Group within the Non-Competition Period.  

  
 4 

 ARTICLE 4 

MISCELLANEOUS. 

Section 4.1 Consent. Any consent of a Party pursuant to this Agreement shall not be effective unless it is in writing and
evidenced by the signature of the Chief Executive Officer or Chief Financial Officer of such Party (or such other person that the Chief Executive Officer, Chief Financial Officer or board of directors of such Party has specifically authorized in
writing to give such consent). 
 Section 4.2 Limitation of Liability. In no event shall any Party be liable to the other Party,
or its affiliated companies for any special, consequential, indirect, incidental or punitive damages or lost profits, however caused and on any theory of liability (including negligence) arising in any way out of this Agreement, whether or not such
Party has been advised of the possibility of such damages. Subject to the forgoing, nothing in this Agreement limits a Party’s right to seek for remedies such Party is entitled to for any breach of this Agreement, whether at law or in equity,
including without limitation the right to terminate this Agreement in the event that the other Party materially breaches this Agreement. 

Section 4.3 Termination. This Agreement may be terminated by mutual written consent of the Parties, evidenced by an instrument in
writing signed on behalf of each of the Parties. This Agreement shall automatically terminate upon the expiration of the Non-Competition Period. 

Section 4.4 Amendment. This Agreement may not be amended except by an instrument in writing executed by a duly authorized
representative of each Party. 
 Section 4.5 Notices. Notices or other communications required or permitted to be given by a
Party pursuant to the terms of this Agreement shall be given in writing to the other Party to the following addresses (or at such other address for a Party as shall be specified in a notice given in accordance with this Section): 

if to CreditEase: 
 16/F, Tower C,
SOHO New Town, 
 88 Jianguo Road, Chaoyang District 

Beijing, 100022 
 The
People’s Republic of China 
 if to Yirendai: 

4/F, Building 2A, No. 6 Lang Jia Yuan 

Chaoyang District, Beijing 
 The
People’s Republic of China 
 or to such other address, facsimile number or email address as the Party to whom notice is given may have
previously furnished to the other in writing as provided herein. Any notice involving non-performance or termination shall be sent by hand delivery or recognized courier. All other notices may also be sent by facsimile or email, confirmed by mail.
All notices shall be deemed to have been given when received, if hand delivered; when transmitted, if transmitted by facsimile or email; upon confirmation of delivery, if sent by recognized courier; and upon receipt if mailed. 

  
 5 

 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. 

Section 4.6 Governing Law. This Agreement shall be governed by, and construed in accordance with, the laws of the State of New
York, U.S.A. 
 Section 4.7 Dispute Resolution. (a) Any dispute, controversy or claim arising out of or relating to this
Agreement or the breach, termination or validity thereof (“Dispute”) which arises between the Parties shall first be negotiated between appropriate senior executives of each Party who shall have the authority to resolve the matter.
Such executives shall meet to attempt in good faith to negotiate a resolution of the Dispute prior to pursuing other available remedies, within ten (10) days of receipt by a Party of written notice of a Dispute, which date of receipt shall be
referred to herein as the “Dispute Resolution Commencement Date.” Discussions and correspondence relating to trying to resolve such Dispute shall be treated as confidential information and privileged information of each of
CreditEase and Yirendai developed for the purpose of settlement and shall be exempt from discovery or production and shall not be admissible in any subsequent proceeding between the Parties. 

(b) If the senior executives are unable to resolve the Dispute within sixty (60) days from the Dispute Resolution Commencement Date, then,
the Dispute will be submitted to the boards of directors of CreditEase and Yirendai. Representatives of each board of directors shall meet as soon as practicable to attempt in good faith to negotiate a resolution of the Dispute. 

(c) If the representatives of the two boards of directors are unable to resolve the Dispute within 120 days from the Dispute Resolution
Commencement Date, on the request of any Party, the Dispute will be mediated by a mediator appointed pursuant to the mediation rules of the American Arbitration Association. Both Parties will share the administrative costs of the mediation and the
mediator’s fees and expenses equally, and each Party shall bear all of its other costs and expenses related to the mediation, including but not limited to attorney’s fees, witness fees, and travel expenses. The mediation shall take place
in Beijing, China or in whatever alternative forum on which the Parties may agree. 
 (d) If the Parties cannot resolve any Dispute through
mediation within forty five (45) days after the appointment of the mediator (or the earlier withdrawal thereof), each Party shall be entitled to submit the Dispute to Hong Kong International Arbitration Centre for arbitration in accordance with
the Hong Kong International Arbitration Centre Administered Arbitration Rules in force at the time when the Dispute is submitted. There shall be three (3) arbitrators. The third and presiding arbitrator shall be qualified to practice law in New
York. The place or seat of arbitration shall be Hong Kong. The award of the arbitral tribunal shall be final and binding upon the parties thereto, and the prevailing party may apply to a court of competent jurisdiction for enforcement of such award.

 Section 4.8 Authority. Each of the Parties hereto represents to the others that (a) it has the corporate or other
requisite power and authority to execute, deliver and perform this Agreement, (b) the execution, delivery and performance of this Agreement by it have been duly authorized by all necessary corporate or other actions, (c) it has duly and
validly executed and delivered this Agreement, and (d) this Agreement is a legal, valid and binding obligation, enforceable against it in accordance with its terms subject to applicable bankruptcy, insolvency, reorganization, moratorium or
other similar laws affecting creditors’ rights generally and general equity principles. 

  
 6 

 Section 4.9 Entire Agreement. This Agreement constitutes the entire agreement between
the Parties with respect to the subject matter hereof, and supersedes all previous agreements, negotiations, discussions, writings, understandings, commitments and conversations with respect to the subject matter hereof. 

Section 4.10 Severability. If any term or other provision of this Agreement is determined by a court, administrative agency or
arbitrator to be invalid, illegal or incapable of being enforced by any rule of law or public policy, all other conditions and provisions of this Agreement shall nevertheless remain in full force and effect so long as the economic or legal substance
of the transactions contemplated hereby is not affected in any manner materially adverse to any Party. Upon such determination that any term or other provision is invalid, illegal or incapable of being enforced, the Parties hereto shall negotiate in
good faith to modify this Agreement so as to effect the original intent of the Parties as closely as possible in an acceptable manner in order that transactions contemplated hereby are fulfilled to the fullest extent possible. 

Section 4.11 Failure or Indulgence not Waiver; Specific Performance; Remedies Cumulative. No failure or delay on the part of any
Party in the exercise of any right hereunder shall impair such right or be construed to be a waiver of, or acquiescence in, any breach of any representation, warranty or agreement herein, nor shall any single or partial exercise of any such right
preclude other or further exercise thereof or of any other right. Each Party recognizes and agrees that the other Party’s remedy at law for any breach of this Agreement would be inadequate and that the non-breaching Party shall, in addition to
such other remedies as may be available to it at law or in equity, be entitled to injunctive relief and to enforce its rights by an action for specific performance to the extent permitted by law (without the posting of any bond and without proof of
actual damages). All rights and remedies existing under this Agreement are cumulative to, and not exclusive of, any rights or remedies otherwise available. 

Section 4.12 Binding Effect; Assignment. This Agreement shall inure to the benefit of and be binding upon the
Parties hereto and their respective legal representatives and successors, and nothing in this Agreement, express or implied, is intended to confer upon any other Person any rights or remedies of any nature whatsoever under or by reason of this
Agreement. No Party may assign this Agreement or any rights or obligations hereunder, without the prior written consent of the other Party, and any such assignment without such consent shall be void; provided, however, each Party may assign
this Agreement to a successor entity in conjunction with such Party’s reincorporation in another jurisdiction or into another business form. 

Section 4.13 Inconsistency. Neither the making nor the acceptance of this Agreement will enlarge, restrict or otherwise modify the
terms of the Master Transaction Agreement or constitute a waiver or release by any Party of any liabilities, obligations or commitments imposed upon them by the terms of the Master Transaction Agreement, including the representations, warranties,
covenants, agreements and other provisions of the Master Transaction Agreement. In the event of any conflict between the terms of this Agreement, on the one hand, and the terms of the Master Transaction Agreement, on the other hand, with respect to
the subject matters of this Agreement, the terms of this Agreement will control. 

  
 7 

 Section 4.14 Interpretation. The headings contained in this Agreement and in the
table of contents of this Agreement are for reference purposes only and shall not affect in any way the meaning or interpretation of this Agreement. For all purposes of this Agreement: (i) all references in this Agreement to designated
“Sections” and other subdivisions are to the designated Sections and other subdivisions of the body of this Agreement unless otherwise indicated; (ii) the words “herein”, “hereof” and “hereunder” and
other words of similar import refer to this Agreement as a whole and not to any particular Section or other subdivision; (iii) “or” is not exclusive; (iv) “including” and “includes” will be deemed to be
followed by “but not limited to” and “but is not limited to”, respectively; (v) any definition of, or reference to, any law, agreement, instrument or other document herein will be construed as referring to such law,
agreement, instrument or other document as from time to time amended, supplemented or otherwise modified; and (vi) any definition of, or reference to, any statute will be construed as referring also to any rules and regulations promulgated
thereunder. 
 Section 4.15 Counterparts. This Agreement may be executed in one or more counterparts, each of which shall be
deemed to be an original but all of which shall constitute one and the same agreement. 
 [Signature page follows] 

  
 8 

 WHEREFORE, the Parties have signed this Non-Competition Agreement effective as of the date first
set forth above. 
  

			
	 CreditEase Holdings (Cayman) Limited

		
	 By:
	 	 /s/ Ning Tang

	 Name:
	 	Ning Tang
	 Title:
	 	Director
	
	 Yirendai Ltd.

		
	 By:
	 	 /s/ Ning Tang

	 Name:
	 	Ning Tang
	 Title:
	 	Executive Chairman of the Board of Directors

 [Signature Page to Non-Competition Agreement]EX-10.6

 Exhibit 10.6 

COOPERATION FRAMEWORK AGREEMENT 

Between 
 CREDITEASE
HOLDINGS (CAYMAN) LIMITED 
 And 

YIRENDAI LTD. 
 Dated as
of November 9, 2015 

 TABLE OF CONTENTS 

 

					
	 ARTICLE 1 DEFINITIONS
	  	 	1	  
	 ARTICLE 2 COOPERATION
	  	 	2	  
	 ARTICLE 3 REPRESENTATIONS AND WARRANTIES
	  	 	3	  
	 ARTICLE 4 TERM
	  	 	4	  
	 ARTICLE 5 CONFIDENTIALITY
	  	 	4	  
	 ARTICLE 6 NOTICES
	  	 	5	  
	 ARTICLE 7 DEFAULTING LIABILITY
	  	 	6	  
	 ARTICLE 8 FORCE MAJEURE
	  	 	6	  
	 ARTICLE 9 MISCELLANEOUS
	  	 	6	  

  
 i 

 COOPERATION FRAMEWORK AGREEMENT 

This Cooperation Framework Agreement (this “Agreement”) is dated as of November 9, 2015, by and between CreditEase
Holdings (Cayman) Limited, a company incorporated under the laws of the Cayman Islands (“CreditEase”), and Yirendai Ltd., a company incorporated under the laws of the Cayman Islands (“Yirendai”) (each of CreditEase
and Yirendai a “Party” and, together, the “Parties”). 
 Capitalized terms used herein and not
otherwise defined shall have the meanings ascribed to such terms in Article 1 hereof. 
 RECITALS 

WHEREAS, as of the date hereof, Yirendai is a wholly owned subsidiary of CreditEase; 

WHEREAS, the parties currently contemplate that Yirendai will make an initial public offering (“IPO”) pursuant to a
Registration Statement on Form F-1 confidentially submitted for review and comment by the U.S. Securities and Exchange Commission under the U.S. Securities Act of 1933, as amended, to be filed publicly with the U.S. Securities and Exchange
Commission via its EDGAR system following the substantial completion of such review and comment and as financial market conditions permit (as so filed, and as amended thereafter from time to time, the “IPO Registration Statement”);

 WHEREAS, CreditEase and Yirendai have entered into certain Master Transaction Agreement, dated as of the date hereof (the “Master
Transaction Agreement”), which sets forth and memorializes the principal arrangements between CreditEase and Yirendai regarding their relationship from and after the filing of the IPO Registration Statement and the consummation of the IPO,
including the entering into of this Agreement; and 
 WHEREAS, the Parties desire to continue to cooperate with each other in various
aspects of their businesses. 
 NOW, THEREFORE, in consideration of the mutual agreements, covenants and provisions contained in this
Agreement, the Parties, intending to be legally bound, agree as follows: 
 ARTICLE 1 

DEFINITIONS 

Capitalized terms used and not otherwise defined herein will have the meanings ascribed to such terms in the Master Transaction Agreement.
Unless otherwise specified in this Agreement, in this Agreement, the following terms shall have the meanings prescribed thereto below. 

“Control Ending Date” means the earlier of (i) the first date upon which members of the CreditEase Group no
longer collectively own at least twenty percent (20%) of the voting power of the then outstanding securities of Yirendai and (ii) the first date upon which CreditEase, collectively with the other members of the CreditEase Group, ceases to
be the largest beneficial owner of the then outstanding voting securities of Yirendai (for purposes of this clause (ii), without considering holdings of institutional investors that have acquired Yirendai securities in the ordinary course of their
business and not with a purpose nor with the effect of changing or influencing the control of Yirendai).  

 “CreditEase” has the meaning set forth in the preamble to this
Agreement. 
 “CreditEase Group” means CreditEase and its subsidiaries and VIEs, other than the Yirendai
Group. 
 “Dispute” has the meaning set forth in Section 9.4 of this Agreement.  

“Dispute Resolution Commencement Date” has the meaning set forth in Section 9.4 of this Agreement.  

“Governmental Authority” means any federal, state, local, foreign or international court, government, department,
commission, board, bureau, agency, official or other regulatory, administrative or governmental authority.  
 “IPO
Completion Date” means the closing date of the IPO, on which the delivery of and payment for the securities offered by Yirendai (excluding securities offered by Yirendai upon underwriter(s)’ exercise of over-allotment option) in
connection with the IPO will take place.  
 “Term” has the meaning prescribed thereto in Section 4.1
hereof. 
 “Yirendai” means Yirendai Ltd., a company established under the laws of the Cayman Islands.

 “Yirendai Group” means Yirendai and its subsidiaries and VIE. 

ARTICLE 2 

COOPERATION 

Section 2.1 During the Term of this Agreement, CreditEase agrees to provide, or cause any other member of the CreditEase Group to
provide, Yirendai Group with services and supports in the following aspects: 
 (a) user acquisition: borrower and investor
acquisition through CreditEase Group’s on-the-ground sales network; 
 (b) collection: loan collection support through CreditEase
Group’s in-house collection team and/or any third-party collection team hired by CreditEase Group; 
 (c) technology support:
technology support, including but not limited to access to CreditEase Group’s settlement system and/or any third-party payment platform that is used by CreditEase Group, network design, optimization and maintenance, support and upgrade of
business support systems, management of information technology equipment, technical support and disaster recovery, and complementary product development, technology and infrastructure support. 

  
 2 

 Section 2.2 The Parties further agree the following principle and procedure for service and
support in relation to user acquisition: 
 (a) As far as borrower acquisition is concerned, Yirendai Group shall submit their request for
borrower leads to CreditEase Group on a monthly basis, and CreditEase Group shall provide borrower leads in accordance with the borrower criteria submitted by Yirendai Group. CreditEase Group shall direct all the borrowers that meet Yirendai
Group’s borrower criteria to Yirendai Group per the aforesaid request, and only when Yirendai Group rejects a borrower and so informs CreditEase Group can CreditEase Group offer the borrower any loan products and services of CreditEase Group.

 (b) As far as investor acquisition is concerned, if it comes to CreditEase Group’s attention that any of existing or potential
investors is interested in or considers investment opportunities through an online consumer finance marketplace, CreditEase Group shall, at its discretion, share that information with Yirendai Group, or direct such investor to Yirendai Group or take
other measures as it deems appropriate and advisable for the purposes of supporting, promoting and/or facilitating the business of Yirendai Group. 

Section 2.3 The Parties agree that fee rate, if any, charged by one party to the other party in relation to the foregoing aspects of
cooperation, shall not be higher than the fee rate charged by or to an unrelated third party in an arm’s length transaction. With respect to the foregoing aspects of cooperation, the Parties will enter into separate specific agreements from
time to time as necessary and appropriate for the purpose of cooperation. Terms and conditions of such specific agreements will be subject to the consultation and mutual agreement of the Parties. 

ARTICLE 3 

REPRESENTATIONS AND WARRANTIES 

Section 3.1 Each Party represents and warrants to the other Party that: 

(a) it is a limited liability company lawfully incorporated and validly existing under the laws of the Cayman Islands, having independent legal
person status; 
 (b) it has full and independent legal status and legal capacity to execute, deliver and perform this Agreement, and may be
an independent party to a lawsuit; 
 (c) it has full internal corporate power and authorization to execute and deliver this Agreement and
all other documents related to the transaction contemplated by this Agreement and to be executed by it; it has full power and authorization to consummate the transaction contemplated by this Agreement; 

(d) this Agreement is lawfully and duly executed and delivered by it; this Agreement constitutes its lawful and binding obligations,
enforceable against it according to the terms of this Agreement; 
 (e) its execution, delivery and performance of this Agreement do not
(i) violate its articles of association or any other constitutional documents, (ii) conflict with any agreement or contract or other document to which it is a party or its property is subject, or (iii) violate or conflict with any
applicable law. 

  
 3 

 ARTICLE 4 

TERM 

Section 4.1 This Agreement shall come into effect on the IPO Completion Date. Unless this Agreement is terminated pursuant to the express
provisions of this Agreement or as agreed by the Parties in writing, the valid term of this Agreement shall end on the earlier of (i) the fifteenth anniversary of the IPO Completion Date, or (ii) one year after the Control Ending Date (the
“Term”). At least one (1) month prior to the expiration of the Term set forth above, the Parties shall consult each other on the extension of the Term, which shall be mutually agreed to by the Parties in writing. 

Section 4.2 The Parties shall complete the approval formalities to extend the business term three (3) months before the expiration
of their respective business term, so as to enable the Term to continue. 
 Section 4.3 Within one (1) year after termination of
this Agreement, the Parties shall still comply with the obligations under Article 5 of this Agreement. 
 ARTICLE 5 

CONFIDENTIALITY 

Section 5.1 Subject to Section 5.3, each party agrees to hold, and to cause its respective directors, officers, employees, agents,
accountants, counsel and other advisors and representatives to hold, in strict confidence, with at least the same degree of care that applies to such Party’s confidential and proprietary information pursuant to policies in effect as of the date
hereof, all information concerning the other Party that is either in its possession (including information in its possession prior to the date hereof) or furnished by the other Party or its directors, officers, managers, employees, agents,
accountants, counsel and other advisors and representatives at any time pursuant to this Agreement or otherwise, and will not use any such information other than for such purposes as will be expressly permitted hereunder or thereunder, except, in
each case, to the extent that such information has been i) in the public domain through no fault of such Party or its directors, officers, managers, employees, agents, accountants, counsel and other advisors and representatives, ii) later lawfully
acquired from other sources by such Party which sources are not themselves bound by a confidentiality obligation, or iii) independently generated without reference or prior access to any proprietary or confidential information of the other Party.

 Section 5.2 Each Party agrees not to release or disclose, or permit to be released or disclosed, any information of the other Party
to any other Person, except its directors, officers, employees, agents, accountants, counsel and other advisors and representatives who need to know such information (who will be advised of their obligations hereunder with respect to such
information), except in compliance with Section 5.3; provided, however, that any information may be disclosed to third parties (who will be advised of their obligation hereunder with respect to such information) retained by the Provider as the
Provider reasonably deems necessary to perform the Services. 

  
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 Section 5.3 In the event that any Party either determines on the advice of its counsel that
it is required to disclose any information pursuant to applicable law (including pursuant to any rule or regulation of any Governmental Authority) or receives any demand under lawful process or from any Governmental Authority to disclose or provide
information of any other Party that is subject to the confidentiality provisions hereof, such Party will notify the other Party prior to disclosing or providing such information and will cooperate at the expense of such other Party in seeking any
reasonable protective arrangements (including by seeking confidential treatment of such information) requested or required by such other Party. Subject to the foregoing, the person that received such a request or determined that it is required to
disclose information may thereafter disclose or provide information to the extent required by such law (as so advised by counsel) or by lawful process or such Governmental Authority; provided, however, that such Person provides the other Party upon
request with a copy of the information so disclosed. 
 ARTICLE 6 

NOTICES 

Section 6.1 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 to the following addresses (or at such other address for a party as shall be specified in a notice given in accordance with this Section): 

if to CreditEase: 
 16/F, Tower
C, SOHO New Town, 
 88 Jianguo Road, Chaoyang District 

Beijing, 100022 
 The
People’s Republic of China 
 if to Yirendai: 

4/F, Building 2A, No. 6 Lang Jia Yuan 

Chaoyang District, Beijing 
 The
People’s Republic of China 
 or to such other address, facsimile number or email address as the Party to whom notice is given may have
previously furnished to the other in writing as provided herein. Any notice involving non-performance or termination shall be sent by hand delivery or recognized courier. All other notices may also be sent by facsimile or email, confirmed by mail.
All notices shall be deemed to have been given when received, if hand delivered; when transmitted, if transmitted by facsimile or email; upon confirmation of delivery, if sent by recognized courier; and upon receipt if mailed. 

Section 6.2 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. 

  
 5 

 ARTICLE 7 

DEFAULTING LIABILITY 

Section 7.1 The Parties agree and confirm that, if any Party (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. 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 or take remedial actions within such reasonable period or within fifteen (15) days after the non-defaulting Party
notifies the Defaulting Party in writing requiring rectification, then the non-defaulting Party is entitled to decide at its own discretion to: 

(a) terminate this Agreement and require the Defaulting Party to indemnify all of its damages; or 

(b) request the Defaulting Party to perform its obligations under this Agreement and require the Defaulting Party to indemnify all of its
damages. 
 ARTICLE 8 

FORCE MAJEURE  
 If
the performance by one Party of this Agreement is directly affected or if one Party cannot perform this Agreement in accordance with the agreed conditions due to any unforeseeable force majeure event or an force majeure event whose consequences
cannot be prevented or avoided, including earthquakes, typhoons, floods, fires, wars, computer viruses, design loopholes in software tools, hacker attacks on the Internet, changes to policies or laws, etc, the affected Party shall immediately give a
notice by fax to the other Party and shall within fifteen (15) days provide the other Party with supporting documents released by the relevant government authorities or a reliable third-party source describing the details of the force majeure
event, and explain the reason why this Agreement cannot be performed or why the performance needs to be postponed. If the force majeure event lasts more than thirty (30) days, the Parties hereto shall negotiate amicably and as soon as possible
determine whether or not part of this Agreement shall be released from performance or whether or not the performance of this Agreement shall be postponed, depending on the degree of impact of this force majeure event on the performance of this
Agreement. Each Party shall not be held liable for any economic losses of the other Party caused by such Party’s failure to perform this Agreement completely due to a force majeure event. 

ARTICLE 9 

MISCELLANEOUS 

Section 9.1 Each Party shall pay its own costs and expenses incurred in connection with the negotiation, preparation and execution of
this Agreement. Each Party shall be responsible for all taxes payable by it under applicable laws incurred from the execution, performance and consummation of transactions as contemplated hereby. 

  
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 Section 9.2 This Agreement may not be amended except by an instrument in writing executed by
a duly authorized representative of each party. 
 Section 9.3 This Agreement shall be governed by, and construed in accordance with,
the laws of the State of New York, U.S.A. 
 Section 9.4 (a) Any dispute, controversy or claim arising out of or relating to
this Agreement or the breach, termination or validity thereof (“Dispute”) which arises between the Parties shall first be negotiated between appropriate senior executives of each Party who shall have the authority to resolve the
matter. Such executives shall meet to attempt in good faith to negotiate a resolution of the Dispute prior to pursuing other available remedies, within ten (10) days of receipt by a Party of written notice of a Dispute, which date of receipt
shall be referred to herein as the “Dispute Resolution Commencement Date.” Discussions and correspondence relating to trying to resolve such Dispute shall be treated as confidential information and privileged information of each of
CreditEase and Yirendai developed for the purpose of settlement and shall be exempt from discovery or production and shall not be admissible in any subsequent proceeding between the Parties. 

(b) If the senior executives are unable to resolve the Dispute within sixty (60) days from the Dispute Resolution Commencement Date, then,
the Dispute will be submitted to the boards of directors of CreditEase and Yirendai. Representatives of each board of directors shall meet as soon as practicable to attempt in good faith to negotiate a resolution of the Dispute. 

(c) If the representatives of the two boards of directors are unable to resolve the Dispute within 120 days from the Dispute Resolution
Commencement Date, on the request of any Party, the Dispute will be mediated by a mediator appointed pursuant to the mediation rules of the American Arbitration Association. Both Parties will share the administrative costs of the mediation and the
mediator’s fees and expenses equally, and each Party shall bear all of its other costs and expenses related to the mediation, including but not limited to attorney’s fees, witness fees, and travel expenses. The mediation shall take place
in Beijing, China or in whatever alternative forum on which the Parties may agree. 
 (d) If the Parties cannot resolve any Dispute through
mediation within forty five (45) days after the appointment of the mediator (or the earlier withdrawal thereof), each Party shall be entitled to submit the Dispute to Hong Kong International Arbitration Centre for arbitration in accordance with
the Hong Kong International Arbitration Centre Administered Arbitration Rules in force at the time when the Dispute is submitted. There shall be three (3) arbitrators. The third and presiding arbitrator shall be qualified to practice law in New
York. The place or seat of arbitration shall be Hong Kong. The award of the arbitral tribunal shall be final and binding upon the parties thereto, and the prevailing party may apply to a court of competent jurisdiction for enforcement of such award.

 Unless otherwise agreed in writing, the Parties will continue to honor all commitments under this Agreement during the course of dispute
resolution pursuant to the provisions of this Section with respect to all matters not subject to such dispute, controversy or claim. 

  
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 Section 9.5 If any term of this Agreement or the Schedules attached hereto is determined by
a court, administrative agency or arbitrator to be invalid, illegal or incapable of being enforced by any rule of law or public policy, all other conditions and provisions of this Agreement shall nevertheless remain in full force and effect so long
as the economic or legal substance of the transactions contemplated hereby is not affected in any manner materially adverse to any Party. Upon such determination that any term or other provision is invalid, illegal or incapable of being enforced,
the Parties hereto shall negotiate in good faith to modify this Agreement so as to effect the original intent of the Parties as closely as possible in an acceptable manner to the end that transactions contemplated hereby are fulfilled to the fullest
extent possible. 
 Section 9.6 This Agreement shall inure to the benefit of and be binding upon the Parties hereto and their
respective legal representatives and successors, and nothing in this Agreement, express or implied, is intended to confer upon any other Person any rights or remedies of any nature whatsoever under or by reason of this Agreement. 

Section 9.7 No Party may assign this Agreement or any rights or obligations hereunder, without the prior written consent of the
other Party, and any such assignment shall be void; provided, however, each Party may assign this Agreement to a successor entity in conjunction with such Party’s reincorporation in another jurisdiction or into another business
form. 
 Section 9.8 The headings contained in this Agreement and in the table of contents to this Agreement are for reference
purposes only and shall not affect in any way the meaning or interpretation of this Agreement. 
 Section 9.9 This Agreement may be
executed in one or more counterparts, each of which shall be deemed to be an original but all of which shall constitute one and the same agreement. Delivery of an executed counterpart of a signature page of this Agreement by facsimile or other
electronic imaging means will be effective as delivery of a manually executed counterpart of this Agreement. 
 [Signature page follows] 

  
 8 

 IN WITNESS WHEREOF, this Cooperation Framework Agreement is executed by the following
Parties on the date first written above. 
  

			
	CreditEase Holdings (Cayman) Limited
		
	By:	 	 /s/ Ning Tang

	Name:	 	Ning Tang
	Title:	 	Director
	
	Yirendai Ltd.
		
	By:	 	 /s/ Ning Tang

	Name:	 	Ning Tang
	Title:	 	Executive Chairman of the Board of Directors

 [Signature Page to Cooperation Framework Agreement]

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