Document:

Exhibit 10.4

 

Equity Pledge Agreement

 

This Equity Pledge Agreement
(this "Agreement") has been executed by and among the following parties on June 3, 2017 in Wuhan, the People’s
Republic of China (“China” or the “PRC”):

 

	Party A:	Wuhan Shengshi Leju Management Co., Ltd. (hereinafter "Pledgee")
	 	 
	Address:	Room 1, 15F, Building 6, Fanhai International Tower, Soho City, Central Business Area, Wang Jia Dun, Jianghan District, Wuhan
	 	 
	Party B:	LI Jianbao (hereinafter "Pledgor")
	 	 
	ID No.:	410621198005141513
	 	 
	Party C:	Shengshi Leju (Wuhan) Technology Holdings Co. Ltd.
	 	 
	Address:	No.1, 23F, Building 4, Fanhai International Tower, Soho City, Central Business Area, Jianghan District, Wuhan

 

In this Agreement,
each of Pledgee, Pledgor and Party C shall be referred to as a "Party" respectively, and they shall be collectively referred
to as the "Parties".

 

Whereas:

 

		1.	Pledgor is a citizen of China, and holds 20% of the equity interest in Party C in record. Party
C is a limited liability company registered in Wuhan, China. Party C acknowledges the respective rights and obligations of Pledgor
and Pledgee under this Agreement, and intends to provide any necessary assistance in registering the Pledge;

 

		2.	Pledgee is a wholly-foreign-owned enterprise registered in China. Pledgee, Pledgor and Party C
owned by Pledgor have executed Technical Consultation and Service Agreement and other control agreements (the “Control
Agreements”);

 

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 Equity Pledge Agreement
	 

     

    

 

		3.	To ensure that Pledgor and Party C fully perform their obligations under the Control Agreements,
and pay the consulting and service fees thereunder to the Pledgee when the sum becomes due, Pledgor hereby pledges to the Pledgee
all of the equity interest he holds in Party C as security for payment of the consulting and service fees by Party C under the
Control Agreements.

 

To perform the provisions of
the Control Agreements, the Parties have mutually agreed to execute this Agreement upon the following terms.

 

		1.	Definitions

 

Unless otherwise provided herein,
the terms below shall have the following meanings:

 

		1.1.	Pledge: shall refer to the security interest granted by Pledgor to Pledgee pursuant to Section
2 of this Agreement, i.e., the right of Pledgee to be compensated on a preferential basis with the conversion, auction or sales
price of the Equity Interest.

 

		1.2.	Equity Interest: shall refer to all of the equity interest lawfully now held and hereafter acquired
by Pledgor in Party C.

 

		1.3.	Term of Pledge: shall refer to the term set forth in Section 3 of this Agreement.

 

		1.4.	Control Agreements: shall refer to Technical Consultation and Service Agreements, Business Cooperation
Agreement and other relevant control agreements executed by and among Pledgor, Party C and Pledgee on June 3, 2017.

 

		1.5.	Event of Default: shall refer to any of the circumstances set forth in Section 7 of this Agreement.

 

		1.6.	Notice of Default: shall refer to the notice issued by Pledgee in accordance with this Agreement
declaring an Event of Default.

 

		2.	The Pledge

 

As collateral security for the
performance of the Control Agreements and the timely and complete payment when due (whether at stated maturity, by acceleration
or otherwise) of any or all of the payments due by Party C and/or Pledgor, including without limitation the consulting and services
fees payable to the Pledgee under the Control Agreements, Pledgor hereby pledges to Pledgee a first security interest in all of
Pledgor's right, title and interest, whether now owned or hereafter acquired by Pledgor, in the Equity Interest of Party C. The
pledged Equity Interest shall be 52,000,000 (fifty-two million) RMB. The secured claim shall be 52,000,000 (fifty-two million)
RMB.

 

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 Equity Pledge Agreement
	 

     

    

 

		3.	Term of Pledge

 

		3.1.	The Pledge shall become effective on such date when the pledge of the Equity Interest contemplated
herein has been registered with relevant Administration for Industry and Commerce (the “AIC”). The Pledge shall be
continuously valid until the Pledgor is no longer a shareholder of Party C or the satisfaction of all its obligations by the Party
C under the Control Agreements. The Pledgors shall be responsible for recording the Pledge in the Company’s Register of Shareholders.

 

		3.2.	During the Term of Pledge, in the event Party C fails to pay the consulting or service fees in
accordance with the Control Agreements, Pledgee shall have the right, but not the obligation, to dispose of the Pledge in accordance
with the provisions of this Agreement.

 

		4.	Custody of Records for Equity Interest subject to Pledge

 

		4.1.	During the Term of Pledge set forth in this Agreement, Pledgor shall deliver to Pledgee's custody
the capital contribution certificate for the Equity Interest and the shareholders' register containing the Pledge within one week
from the execution of this Agreement. Pledgee shall have custody of such items during the entire Term of Pledge set forth in this
Agreement.

 

		4.2.	Pledgee shall have the right to collect dividends generated by the Equity Interest during the Term
of Pledge.

 

		5.	Representations and Warranties of Pledgor

 

		5.1.	Pledgor is the owner of the Equity Interest in record of register of shareholder.

 

		5.2.	Pledgee shall have the right to dispose of and transfer the Equity Interest in accordance with
the provisions set forth in this Agreement.

 

		5.3.	Except for the Pledge, Pledgor has not placed any security interest or other encumbrance on the
Equity Interest.

 

		6.	Covenants and Further Agreements of Pledgor

 

		6.1.	Pledgor hereby covenants to the Pledgee, that during the term of this Agreement, Pledgor shall:

 

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		6.1.1.	not transfer the Equity Interest, place or permit the existence of any security interest or other
encumbrance on the Equity Interest, without the prior written consent of Pledgee, except for the performance of the Share Disposal
Agreement (the “Share Disposal Agreement”) executed by Pledgor, the Pledgee and Party C on the execution date of this
Agreement;

 

		6.1.2.	comply with the provisions of all laws and regulations applicable to the pledge of rights, and
within 5 working days of receipt of any notice, order or recommendation issued or prepared by relevant competent authorities regarding
the Pledge, shall present the aforementioned notice, order or recommendation to Pledgee, and shall comply with the aforementioned
notice, order or recommendation or submit objections and representations with respect to the aforementioned matters upon Pledgee's
reasonable request or upon consent of Pledgee;

 

		6.1.3.	promptly notify Pledgee of any event or notice received by Pledgor that may have an impact on Pledgee's
rights to the Equity Interest or any portion thereof, as well as any event or notice received by Pledgor that may have an impact
on any guarantees and other obligations of Pledgor arising out of this Agreement.

 

		6.2.	Pledgor agrees that the rights acquired by Pledgee in accordance with this Agreement with respect
to the Pledge shall not be interrupted or harmed by Pledgor or any heirs or representatives of Pledgor or any other persons through
any legal proceedings.

 

		6.3.	To protect or perfect the security interest granted by this Agreement for payment of the consulting
and service fees under the Control Agreements, Pledgor hereby undertakes to execute in good faith and to cause other parties who
have an interest in the Pledge to execute all certificates, agreements, deeds and/or covenants required by Pledgee. Pledgor also
undertakes to perform and to cause other parties who have an interest in the Pledge to perform actions required by Pledgee, to
facilitate the exercise by Pledgee of its rights and authority granted thereto by this Agreement, and to enter into all relevant
documents regarding ownership of Equity Interest with Pledgee or designee(s) of Pledgee (natural persons/legal persons). Pledgor
undertakes to provide Pledgee within a reasonable time with all notices, orders and decisions regarding the Pledge that are required
by Pledgee.

 

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		6.4.	Pledgor hereby undertakes to comply with and perform all guarantees, covenants, agreements, representations
and conditions under this Agreement. In the event of failure or partial performance of its guarantees, covenants, agreements, representations
and conditions, Pledgor shall indemnify Pledgee for all losses resulting therefrom.

 

		6.5.	The Pledgors shall process the registration procedures with the AIC concerning the Pledge as soon
as practical after the execution of this Agreement.

 

		6.6.	Without notifying Pledgee in advance and obtaining Pledgee’s prior written consent, Pledgor
shall not transfer the Equity Interest and any action for the proposed transfer of the Equity Interest of Pledgor shall be invalid.
Any payment received by Pledgor for transfer of the Equity Interest shall be firstly used to repay the secured obligations to Pledgee
or be placed in escrow with a third party as agreed with Pledgee.

 

		7.	Event of Default

 

		7.1.	The following circumstances shall be deemed Event of Default:

 

		7.1.1.	Party C fails to fully and timely fulfill any liabilities under the Control Agreements, including
without limitation failure to pay in full any of the consulting and service fees payable under the Control Agreements or breaches
any other obligations of Party C thereunder;

 

		7.1.2.	Pledgor or Party C has committed a material breach of any provisions of this Agreement;

 

		7.1.3.	Except for the performance of the Share Disposal Agreement, Pledgor abandons, transfers or purports
to transfer the Equity Interest pledged without the written consent of Pledgee;

 

		7.1.4.	The successor or custodian of Party C is capable of only partially performing or refusing to perform
the payment obligations under the Control Agreements;

 

		7.1.5.	The occurrence of any adverse change to the assets or property of the Pledgor, which in Pledgee’s
determination, may impact the ability of the Pledgor to perform its obligations hereunder;and

 

		7.1.6.	The occurrence of any other circumstances under which the Pledgee is not or may not able to exercise
its rights hereunder in accordance with the applicable law.

 

		7.2.	Upon notice or discovery of the occurrence of any circumstances or event that may lead to the aforementioned
circumstances described in Section 7.1, Pledgor shall immediately notify Pledgee in writing accordingly.

 

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		7.3.	Unless an Event of Default set forth in this Section 7.1 has been successfully resolved to Pledgee's
satisfaction within twenty (20) days after the Pledgee delivers a notice to the Pledgor requesting ratification of such Event of
Default, Pledgee may issue a Notice of Default to Pledgor in writing at any time thereafter, demanding immediate disposal of the
Pledge in accordance with the provisions of Section 8 of this Agreement.

 

		8.	Exercise of Pledge

 

		8.1.	Prior to the full payment of the consulting and service fees described in the Control Agreements,
without the Pledgee's written consent, Pledgor shall not assign the Equity Interest in Party C.

 

		8.2.	Pledgee may issue a written notice to Pledgor when exercising the Pledge.

 

		8.3.	Subject to the provisions of Section 7.3, Pledgee may exercise the right to enforce the Pledge
at any time after the issuance of the Notice of Default in accordance with Section 7.3. Once Pledgee elects to enforce the Pledge,
Pledgor shall cease to be entitled to any rights or interests associated with the Equity Interest.

 

		8.4.	In the Event of Default, Pledgee is entitled to dispose of the Equity Interest in accordance with
applicable PRC laws. Only to the extent permitted under applicable PRC laws, Pledgee has no obligation to account to Pledgor for
proceeds of disposition of the Equity Interest, and Pledgor hereby waives any rights it may have to demand any such accounting
from Pledgee.

 

		8.5.	When Pledgee disposes of the Pledge in accordance with this Agreement, Pledgor and Party C shall
provide necessary assistance to enable Pledgee to enforce the Pledge in accordance with this Agreement.

 

		9.	Assignment

 

		9.1.	Without Pledgee's prior written consent, Pledgor shall not have the right to assign or delegate
its rights and obligations under this Agreement.

 

		9.2.	This Agreement shall be binding on Pledgor and its successors and permitted assigns, and shall
be valid with respect to Pledgee and each of its successors and assigns.

 

		9.3.	At any time, Pledgee may assign any and all of its rights and obligations under the Control Agreements
to its designee(s) (natural/legal persons), in which case the assignee shall have the rights and obligations of Pledgee under this
Agreement, as if it were the original party to this Agreement. When the Pledgee assigns the rights and obligations under the Control
Agreements, upon Pledgee's request, Pledgor shall execute relevant agreements and/or other documents relating to such assignment.

 

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		9.4.	In the event of a change in Pledgee due to an assignment, Pledgor shall, at the request of Pledgee,
execute a new pledge agreement with the new pledgee on the same terms and conditions as this Agreement, and register the same with
the relevant AIC.

 

		9.5.	Pledgor shall strictly abide by the provisions of this Agreement and other contracts jointly or
separately executed by the Parties hereto or any of them, including the Share Disposal Agreement and the Power of Attorney granted
to Pledgee, perform the obligations hereunder and thereunder, and refrain from any action/omission that may affect the effectiveness
and enforceability thereof. Any remaining rights of Pledgor with respect to the Equity Interest pledged hereunder shall not be
exercised by Pledgor except in accordance with the written instructions of Pledgee.

 

		10.	Termination

 

Upon the full payment of the consulting
and service fees under the Control Agreements and upon termination of Party C's obligations under the Control Agreements, this
Agreement shall be terminated, and Pledgee shall then terminate the equity pledge under this Agreement as soon as reasonably practicable.

 

		11.	Handling Fees and Other Expenses

 

All fees and out of pocket expenses
relating to this Agreement, including but not limited to legal costs, costs of production, stamp tax and any other taxes and fees,
shall be borne by Party C.

 

		12.	Confidentiality

 

The Parties acknowledge that the
existence and the terms of this Agreement and any oral or written information exchanged between the Parties in connection with
the preparation and performance this Agreement are regarded as confidential information. Each Party shall maintain confidentiality
of all such confidential information, and without obtaining the written consent of the other Party, it shall not disclose any relevant
confidential information to any third parties, except for the information that: (a) is or will be in the public domain (other than
through the receiving Party’s unauthorized disclosure); (b) is under the obligation to be disclosed pursuant to the applicable
laws or regulations, rules of any stock exchange, or orders of the court or other government authorities; or (c) is required to
be disclosed by any Party to its shareholders, investors, legal counsels or financial advisors regarding the transaction contemplated
hereunder, provided that such shareholders, investors, legal counsels or financial advisors shall be bound by the confidentiality
obligations similar to those set forth in this Section. Disclosure of any confidential information by the staff members or agencies
hired by any Party shall be deemed disclosure of such confidential information by such Party, which Party shall be held liable
for breach of this Agreement. This Section shall survive the termination of this Agreement for any reason.

 

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		13.	Governing Law and Resolution of Disputes

 

		13.1.	The execution, effectiveness, construction, performance, amendment and termination of this Agreement
and the resolution of disputes hereunder shall be governed by the laws of China.

 

		13.2.	In the event of any dispute with respect to the construction and performance of this Agreement,
the Parties shall first resolve the dispute through friendly negotiations. In the event the Parties fail to reach an agreement
on the dispute within 30 days after either Party's request to the other Parties for resolution of the dispute through negotiations,
either Party may submit the relevant dispute to the China International Economic and Trade Arbitration Commission Hubei Sub-Commission
for arbitration, in accordance with its Arbitration Rules. The arbitration shall be conducted in Wuhan City, Hubei Province, and
the language used in arbitration shall be Chinese. The arbitration award shall be final and binding on all Parties.

 

		13.3.	Upon the occurrence of any disputes arising from the construction and performance of this Agreement
or during the pending arbitration of any dispute, except for the matters under dispute, the Parties to this Agreement shall continue
to exercise their respective rights under this Agreement and perform their respective obligations under this Agreement.

 

		14.	Notices

 

		14.1.	All notices and other communications required or permitted to be given pursuant to this Agreement
shall be delivered personally or sent by registered mail, postage prepaid, by a commercial courier service or by facsimile transmission
to the address of such party set forth below. A confirmation copy of each notice shall also be sent by E-mail. The dates on which
notices shall be deemed to have been effectively given shall be determined as follows:

 

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		14.1.1.	Notices given by personal delivery, by courier service or by registered mail, postage prepaid,
shall be deemed effectively given on the date of acceptance or refusal at the address specified for notices.

 

		14.1.2.	Notices given by facsimile transmission shall be deemed effectively given on the date of successful
transmission (as evidenced by an automatically generated confirmation of transmission).

 

		14.2.	For the purpose of notices, the addresses of the Parties are as follows:

 

	Party A:	Wuhan Shengshi Leju Management Co., Ltd.
	 	 
	Address:	Room 1, 15F, Building 6, Fanhai International Tower, Soho City, Central Business Area, Wang Jia Dun, Jianghan District, Wuhan
	 	 
	Attn:	ZHENG WEI
	 	 
	Phone:	027-83668638
	 	 
	Party B:	LI Jianbao
	 	 
	Address:	901, Unit 1, Tower 1, Lan Hai Yuan, Fan Hai Guo Ji, 88 Shangwuzhong Road, Jianghan District, Wuhan, China
	 	 
	Phone:	15623326666
	 	 
	Party C:	Shengshi Leju (Wuhan) Technology Holdings Co. Ltd.
	 	 
	Address:	No.1, 23F, Building 4, Fanhai International Tower, Soho City, Central Business Area, Jianghan District, Wuhan
	 	 
	Attn:	ZHENG, Wei
	 	 
	Phone:	027-83668638

 

		14.3.	If any Party change its address for notices or its contact person, a notice shall be delivered
to the other Parties in accordance with the terms hereof.

 

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		15.	Severability

 

In the event that one or several
of the provisions of this Agreement are found to be invalid, illegal or unenforceable in any aspect in accordance with any laws
or regulations, the validity, legality or enforceability of the remaining provisions of this Agreement shall not be affected or
compromised in any respect. The Parties shall strive in good faith to replace such invalid, illegal or unenforceable provisions
with effective provisions that accomplish to the greatest extent permitted by law and the intentions of the Parties, and the economic
effect of such effective provisions shall be as close as possible to the economic effect of those invalid, illegal or unenforceable
provisions.

 

		16.	Attachments

 

The attachments set forth herein
shall be an integral part of this Agreement.

 

		17.	Effectiveness

 

		17.1.	This Agreement shall become effective when the Parties have duly executed this Agreement.

 

		17.2.	Any amendments, changes and supplements to this Agreement shall be in writing and shall become
effective after the affixation of the signatures or seals of the Parties.

 

		17.3.	This Agreement is written in Chinese and English in three copies. Pledgor, Pledgee and Party C
shall hold one copy respectively. Each copy of this Agreement shall have equal validity. In case there is any conflict between
the Chinese version and the English version, the Chinese version shall prevail.

 

The Remainder
of this page is intentionally left blank

 

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IN WITNESS WHEREOF,
the Parties have caused their authorized representatives to execute this Equity Pledge Agreement as of the date first above written.

 

	Party A:	Wuhan Shengshi Leju Management Co., Ltd.&
	 	 
	By:	/s/ ZHENG Wei	 
	Name:	ZHENG Wei
	Title:	Legal Representative
	 	 
	Party B:	LI Jianbao
	 	 
	By:	/s/ LI Jianbao	 
	 	 
	Party C:	Shengshi Leju (Wuhan) Technology Holdings Co. Ltd.
	 	 
	By:	/s/ ZHENG Wei	 
	Name:	ZHENG Wei
	Title:	Legal Representative

 

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Attachments:

 

		1.	Shareholders' register of Shengshi Leju (Wuhan) Technology Holdings Co. Ltd.;

 

		2.	The Capital Contribution Certificate for Shengshi Leju (Wuhan) Technology Holdings Co. Ltd.;

 

		3.	Technical Consultation and Service Agreement

 

		4.	Business Cooperation Agreement

 

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 Equity Pledge AgreementExhibit 10.5

 

Share Disposal Agreement

 

This Share Disposal
Agreement (this "Agreement") is executed by and among the following Parties as of June 3, 2017 in Wuhan, the People’s
Republic of China (“China” or the “PRC”):

 

	Party A:	Wuhan Shengshi Leju Management Co., Ltd.
	 	 
	Address:	Room 1, 15F, Building 6, Fanhai International Tower, Soho City, Central Business Area, Wang Jia Dun, Jianghan District, Wuhan
	 	 
	Party B:	ZHENG Wei 
	 	 
	ID No.:	411523197710270031
	 	 
	Party C:	Shengshi Leju (Wuhan) Technology Holdings Co. Ltd.
	 	 
	Address:	No.1, 23F, Building 4, Fanhai International Tower, Soho City, Central Business Area, Jianghan District, Wuhan

 

In this Agreement,
each of Party A, Party B and Party C shall be referred to as a "Party" respectively, and they shall be collectively referred
to as the "Parties".

 

Whereas:
Party B holds 80% of the equity interest in Party C. Party A and Party C have executed Technical
Consultation and Service Agreement, Business Cooperation Agreement and other control agreements (the “Control Agreements”).

 

Now therefore, upon
mutual discussion and negotiation, the Parties have reached the following agreement:

 

     

     

    

 

		1	Sale and Purchase of Equity Interest

 

		1.1	Option Granted

 

In consideration
of the payment of RMB 1 by Party A, the receipt and adequacy of which is hereby acknowledged by Party B, Party B hereby irrevocably
agrees that, on the condition that it is permitted by the PRC laws, Party A has the right to require Party B to fulfill and complete
all approval and registration procedures required under PRC laws for Party A to purchase, or designate one or more persons (each,
a "Designee") to purchase, Party B’s equity interests in Party C, once or at multiple times at any time in part
or in whole at Party A's sole and absolute discretion and at the price described in Section 1.3 herein (such right being the "Equity
Interest Purchase Option"). Party A’s Equity Interest Purchase Option shall be exclusive. Except for Party A and the
Designee(s), no other person shall be entitled to the Equity Interest Purchase Option or other rights with respect to the equity
interests of Party B. Party C hereby agrees to the grant by Party B of the Equity Interest Purchase Option to Party A. The term
"person" as used herein shall refer to individuals, corporations, partnerships, partners, enterprises, trusts or non-corporate
organizations.

 

		1.2	Steps for Exercise of Equity Interest Purchase Option

 

Subject to
the provisions of the laws and regulations of China, Party A may exercise the Equity Interest Purchase Option by issuing a written
notice to Party B (the "Equity Interest Purchase Option Notice"), specifying: (a) Party A's decision to exercise the
Equity Interest Purchase Option; (b) the portion of equity interests to be purchased from Party B (the "Optioned Interests");
and (c) the date for purchasing the Optioned Interests and/or the date for transfer of the Optioned Interests.

 

		1.3	Equity Interest Purchase Price

 

The purchase
price of the Optioned Interests (the "Base Price") shall be the lowest price allowed by the laws of China. If appraisal
is required by the laws of China at the time when Party A exercises the Equity Interest Purchase Option, the Parties shall negotiate
in good faith and based on the appraisal result make necessary adjustment to the Equity Interest Purchase Price so that it complies
with any and all then applicable laws of China (collectively, the "Equity Interest Purchase Price").

 

		1.4	Transfer of Optioned Interests

 

For each
exercise of the Equity Interest Purchase Option:

 

		1.4.1	Party B shall cause Party C to promptly convene a shareholders’ meeting, at which a resolution
shall be adopted approving Party B's transfer of the Optioned Interests to Party A and/or the Designee(s);

 

		1.4.2	Party B shall obtain written statements from the other shareholders of Party C giving consent to
the transfer of the equity interest to Party A and/or the Designee(s) and waiving any right of first refusal related thereto.

 

     

     

    

 

		1.4.3	Party B shall execute a share transfer contract with respect to each transfer with Party A and/or
each Designee (whichever is applicable), in accordance with the provisions of this Agreement and the Equity Interest Purchase Option
Notice regarding the Optioned Interests;

 

		1.4.4	The relevant Parties shall execute all other necessary contracts, agreements or documents, obtain
all necessary government licenses and permits and take all necessary actions to transfer valid ownership of the Optioned Interests
to Party A and/or the Designee(s), unencumbered by any security interests, and cause Party A and/or the Designee(s) to become the
registered owner(s) of the Optioned Interests. For the purpose of this Section and this Agreement, "security interests"
shall include securities, mortgages, third party's rights or interests, any stock options, acquisition right, right of first refusal,
right to offset, ownership retention or other security arrangements, but shall be deemed to exclude any security interest created
by this Agreement and Party B's Equity Pledge Agreement. "Party B's Equity Pledge Agreement" as used in this Section
and this Agreement shall refer to the Equity Pledge Agreement ("Party B's Equity Pledge Agreement") executed by and among
Party A, Party B and Party C as of the date hereof, whereby Party B pledges all of its equity interests in Party C to Party A,
in order to guarantee Party C's performance of its obligations under the Control Agreements executed by and between Party C and
Party A.

 

		2	Covenants

 

		2.1	Covenants regarding Party C

 

Party B (as
the shareholders of Party C) and Party C hereby covenant as follows:

 

		2.1.1	Without the prior written consent of Party A, they shall not in any manner supplement, change or
amend the articles of association and bylaws of Party C, increase or decrease its registered capital, or change its structure of
registered capital in other manners;

 

		2.1.2	They shall maintain Party C's corporate existence in accordance with good financial and business
standards and practices by prudently and effectively operating its business and handling its affairs;

 

		2.1.3	Without the prior written consent of Party A, they shall not at any time following the date hereof,
sell, transfer, mortgage or dispose of in any manner any assets of Party C or legal or beneficial interest in the business or revenues
of Party C, or allow the encumbrance thereon of any security interest;

 

		2.1.4	Without the prior written consent of Party A, they shall not incur, inherit, guarantee or suffer
the existence of any debt, except for (i) debts incurred in the ordinary course of business other than through loans; and (ii)
debts disclosed to Party A for which Party A's written consent has been obtained;

 

     

     

    

 

		2.1.5	They shall always operate all of Party C's businesses during the ordinary course of business to
maintain the asset value of Party C and refrain from any action/omission that may affect Party C's operating status and asset value;

 

		2.1.6	Without the prior written consent of Party A, they shall not cause Party C to execute any major
contract, except the contracts in the ordinary course of business (for purpose of this subsection, a contract with a price exceeding
RMB 100,000 shall be deemed a major contract);

 

		2.1.7	Without the prior written consent of Party A, Party C shall not cause Party C to provide any person
with any loan or credit;

 

		2.1.8	They shall provide Party A with information on Party C's business operations and financial condition
at Party A's request;

 

		2.1.9	If requested by Party A, Party C shall procure and maintain insurance in respect of Party C's assets
and business from an insurance carrier acceptable to Party A, at an amount and type of coverage typical for companies that operate
similar businesses;

 

		2.1.10	Without the prior written consent of Party A, Party Cshall not cause or permit Party C to merge,
consolidate with, acquire or invest in any person;

 

		2.1.11	They shall immediately notify Party A of the occurrence or possible occurrence of any litigation,
arbitration or administrative proceedings relating to Party C's assets, business or revenue;

 

		2.1.12	To maintain the ownership by Party C of all of its assets, they shall execute all necessary or
appropriate documents, take all necessary or appropriate actions and file all necessary or appropriate complaints or raise necessary
and appropriate defenses against all claims;

 

		2.1.13	Without the prior written consent of Party A, they shall ensure that Party C shall not in any manner
distribute dividends to its shareholders, provided that upon Party A's written request, Party C shall immediately distribute all
distributable profits to its shareholders; and

 

		2.1.14	At the request of Party A, they shall appoint any persons designated by Party A as directors of
Party C; without the prior written consent of Party A, they shall not replace the directors of Party C.

 

		2.2	Covenants of Party B

 

Party B hereby covenants
as follows:

 

		2.2.1	Without the prior written consent of Party A, Party B shall not sell, transfer, mortgage or dispose
of in any other manner any legal or beneficial interest in the equity interests in Party C held by Party B, or allow the encumbrance
thereon of any security interest, except for the pledge placed on these equity interests in accordance with Party B's Equity Pledge
Agreement;

 

     

     

    

 

		2.2.2	Party B shall cause the shareholders' meeting and/or the board of directors of Party C not to approve
the sale, transfer, mortgage or disposition in any other manner of any legal or beneficial interest in the equity interests in
Party C held by Party B, or allow the encumbrance thereon of any security interest, without the prior written consent of Party
A, except for the pledge placed on these equity interests in accordance with Party B's Equity Pledge Agreement;

 

		2.2.3	Party B shall cause the shareholders' meeting or the board of directors of Party C not to approve
the merger or consolidation with any person, or the acquisition of or investment in any person, without the prior written consent
of Party A;

 

		2.2.4	Party B shall immediately notify Party A of the occurrence or possible occurrence of any litigation,
arbitration or administrative proceedings relating to the equity interests in Party C held by Party B;

 

		2.2.5	Party B shall cause the shareholders' meeting or the board of directors of Party C to vote their
approval of the transfer of the Optioned Interests as set forth in this Agreement and to take any and all other actions that may
be requested by Party A;

 

		2.2.6	To the extent necessary to maintain Party B's ownership in Party C, Party B shall execute all necessary
or appropriate documents, take all necessary or appropriate actions and file all necessary or appropriate complaints or raise necessary
and appropriate defenses against all claims;

 

		2.2.7	Party B shall appoint any designee of Party A as director and/or executive director of Party C,
at the request of Party A; without the prior written consent of Party A, they shall not replace the directors of Party C;

 

		2.2.8	Party B shall issue such power of attorney as Party A may request from time to time, to authorize
Party A and/or the individual designated by Party A to exercise Party B’s voting rights as a shareholder in Party C.

 

		2.2.9	At the request of Party A at any time, Party B shall promptly and unconditionally transfer its
equity interests in Party C to Party A's Designee(s) in accordance with the Equity Interest Purchase Option under this Agreement,
and Party B hereby waives its right of first refusal to the respective share transfer by the other existing shareholder of Party
C (if any); and

 

     

     

    

 

		2.2.10	Party B shall strictly abide by the provisions of this Agreement and other contracts jointly or
separately executed by and among Party B, Party C and Party A, perform the obligations hereunder and thereunder, and refrain from
any action/omission that may affect the effectiveness and enforceability thereof. If Party B retains any additional rights other
than those rights provided for under this Agreement, Party B's Equity Pledge Agreement and the powers of attorney issued to Party
A and/or the individual designated by Party A, Party B shall not exercise such rights without Party A’s written direction.

 

		3	Representations and Warranties

 

Party B
and Party C hereby represent and warrant to Party A, jointly and severally, as of the date of this Agreement that:

 

		3.1	They have the authority to execute and deliver this Agreement and any share transfer contracts
to which they are parties concerning the Optioned Interests to be transferred thereunder (each, a "Transfer Contract"),
and to perform their obligations under this Agreement and any Transfer Contracts. Party B and Party C agree to enter into Transfer
Contracts consistent with the terms of this Agreement upon Party A’s exercise of the Equity Interest Purchase Option. This
Agreement and the Transfer Contracts to which they are parties constitute or will constitute their legal, valid and binding obligations
and shall be enforceable against them in accordance with the provisions thereof;

 

		3.2	The execution and delivery of this Agreement or any Transfer Contracts and the obligations under
this Agreement or any Transfer Contracts shall not: (i) cause any violation of any applicable laws of China; (ii) be inconsistent
with the articles of association, bylaws or other organizational documents of Party C; (iii) cause the violation of any contracts
or instruments to which they are a party or which are binding on them, or constitute any breach under any contracts or instruments
to which they are a party or which are binding on them; (iv) cause any violation of any condition for the grant and/or continued
effectiveness of any licenses or permits issued to either of them; or (v) cause the suspension or revocation of or imposition of
additional conditions to any licenses or permits issued to either of them;

 

		3.3	Party B has a good and merchantable title to the equity interests in Party C he holds. Except for
Party B's Equity Pledge Agreement, Party B has not placed any security interest on such equity interests;

 

		3.4	Party C has a good and merchantable title to all of its assets, and has not placed any security
interest on the aforementioned assets;

 

		3.5	Party C does not have any outstanding debts, except for (i) debt incurred in the ordinary course
of business; and (ii) debts disclosed to Party A for which Party A's written consent has been obtained.

 

     

     

    

 

		3.6	Party C has complied with all laws and regulations of China applicable to equity or asset acquisitions;
and

 

		3.7	There are no pending or threatened litigation, arbitration or administrative proceedings relating
to the equity interests in Party C, assets of Party C or Party C.

 

		4	Effective Date

 

This Agreement
shall become effective upon the date hereof, and remain effective until all the equity interest owned by Party B in Party C has
been legally transferred to Party A or the Designee(s) in accordance with this Agreement.

 

		5	Governing Law and Resolution of Disputes

 

		5.1	Governing law

 

The execution,
effectiveness, construction, performance, amendment and termination of this Agreement and the resolution of disputes hereunder
shall be governed by the formally published and publicly available laws of China. Matters not covered by formally published and
publicly available laws of China shall be governed by international legal principles and practices.

 

		5.2	Methods of Resolution of Disputes

 

In the
event of any dispute with respect to the construction and performance of this Agreement, the Parties shall first resolve the dispute
through friendly negotiations. In the event the Parties fail to reach an agreement on the dispute within 30 days after either Party's
request to the other Parties for resolution of the dispute through negotiations, either Party may submit the relevant dispute to
the China International Economic and Trade Arbitration Commission Hubei Sub-Commission for arbitration, in accordance with its
Arbitration Rules. The arbitration shall be conducted in Wuhan City, Hubei Province, and the language used in arbitration shall
be Chinese. The arbitration award shall be final and binding on all Parties.

 

		6	Taxes and Fees

 

Each Party
shall pay any and all transfer and registration tax, expenses and fees incurred thereby or levied thereon in accordance with the
laws of China in connection with the preparation and execution of this Agreement and the Transfer Contracts, as well as the consummation
of the transactions contemplated under this Agreement and the Transfer Contracts.

 

		7	Notices

 

		7.1	All notices and other communications required or permitted to be given pursuant to this Agreement
shall be delivered personally or sent by registered mail, postage prepaid, by a commercial courier service or by facsimile transmission
to the address of such Party set forth below. A confirmation copy of each notice shall also be sent by email. The dates on which
notices shall be deemed to have been effectively given shall be determined as follows:

 

     

     

    

 

		7.1.1	Notices given by personal delivery, by courier service or by registered mail, postage prepaid,
shall be deemed effectively given on the date of acceptance or refusal at the address specified for notices.

 

		7.1.2	Notices given by facsimile transmission shall be deemed effectively given on the date of successful
transmission (as evidenced by an automatically generated confirmation of transmission).

 

		7.2	For the purpose of notices, the addresses of the Parties are as follows:

 

	Party A:	Wuhan Shengshi Leju Management Co., Ltd.
	 	 
	Address:	Room 1, 15F, Building 6, Fanhai International Tower, Soho City, Central Business Area, Wang Jia Dun, Jianghan District, Wuhan
	 	 
	Attn:	ZHENG WEI
	 	 
	Phone:	027-83668638
	 	 
	Party B:	ZHENG Wei
	 	 
	Address:	Room 701, Unit 1, Building No. 114, 187 Jin Shan Da Dao, Jin Yin Hu Ban Shi Chu, Dong Xi Hu Qu, Wuhan, China
	 	 
	Phone:	15327175555
	 	 
	Party C:	Shengshi Leju (Wuhan) Technology Holdings Co. Ltd.
	 	 
	Address:	No.1, 23F, Building 4, Fanhai International Tower, Soho City, Central Business Area, Jianghan District, Wuhan
	 	 
	Attn:	ZHENG WEI
	 	 
	Phone:	027-83668638

 

		7.3	If any Party change its address for notices or its contact person, a notice shall be delivered
to the other Party in accordance with the terms hereof.

 

     

     

    

 

		8	Confidentiality

 

The Parties
acknowledge that the existence and the terms of this Agreement and any oral or written information exchanged between the Parties
in connection with the preparation and performance this Agreement are regarded as confidential information. Each Party shall maintain
confidentiality of all such confidential information, and without obtaining the written consent of the other Party, it shall not
disclose any relevant confidential information to any third parties, except for the information that: (a) is or will be in the
public domain (other than through the receiving Party’s unauthorized disclosure); (b) is under the obligation to be disclosed
pursuant to the applicable laws or regulations, rules of any stock exchange, or orders of the court or other government authorities;
or (c) is required to be disclosed by any Party to its shareholders, investors, legal counsels or financial advisors regarding
the transaction contemplated hereunder, provided that such shareholders, investors, legal counsels or financial advisors shall
be bound by the confidentiality obligations similar to those set forth in this Section. Disclosure of any confidential information
by the staff members or agencies hired by any Party shall be deemed disclosure of such confidential information by such Party,
which Party shall be held liable for breach of this Agreement. This Section shall survive the termination of this Agreement for
any reason.

 

		9	Further Warranties

 

The Parties
agree to promptly execute documents that are reasonably required for or are conducive to the implementation of the provisions and
purposes of this Agreement and take further actions that are reasonably required for or are conducive to the implementation of
the provisions and purposes of this Agreement.

 

		10	Miscellaneous

 

		10.1	Amendment, change and supplement

 

Any amendment,
change and supplement to this Agreement shall require the execution of a written agreement by all of the Parties.

 

		10.2	Entire agreement

 

Except for
the amendments, supplements or changes in writing executed after the execution of this Agreement, this Agreement shall constitute
the entire agreement reached by and among the Parties hereto with respect to the subject matter hereof, and shall supercede all
prior oral and written consultations, representations and contracts reached with respect to the subject matter of this Agreement.

 

		10.3	Headings

 

The headings
of this Agreement are for convenience only, and shall not be used to interpret, explain or otherwise affect the meanings of the
provisions of this Agreement.

 

     

     

    

 

		10.4	Language

 

This Agreement
is written in both Chinese and English language in three copies, each Party having one copy with equal legal validity; in case
there is any conflict between the Chinese version and the English version, the Chinese version shall prevail.

 

		10.5	Severability

 

In the event
that one or several of the provisions of this Agreement are found to be invalid, illegal or unenforceable in any aspect in accordance
with any laws or regulations, the validity, legality or enforceability of the remaining provisions of this Agreement shall not
be affected or compromised in any respect. The Parties shall strive in good faith to replace such invalid, illegal or unenforceable
provisions with effective provisions that accomplish to the greatest extent permitted by law and the intentions of the Parties,
and the economic effect of such effective provisions shall be as close as possible to the economic effect of those invalid, illegal
or unenforceable provisions.

 

		10.6	Successors

 

This Agreement
shall be binding on and shall inure to the interest of the respective successors of the Parties and the permitted assigns of such
Parties.

 

		10.7	Waivers

 

Any Party
may waive the terms and conditions of this Agreement, provided that such a waiver must be provided in writing and shall require
the signatures of the Parties. No waiver by any Party in certain circumstances with respect to a breach by other Parties shall
operate as a waiver by such a Party with respect to any similar breach in other circumstances.

 

		10.8	Survival

 

		10.8.1	Any obligations that occur or that are due as a result of this Agreement upon the expiration or
early termination of this Agreement shall survive the expiration or early termination thereof.

 

		10.8.2	The provisions of Sections 5, 7, 8 and this Section 10.8 shall survive the termination of this
Agreement.

 

     

     

    

 

		10.9	Indemnification

 

		10.9.1	The Parties agree and confirm that, if any Party (the “Defaulting Party”) is
in material breach of any provisions herein or fails to perform any obligations hereunder in any material respect, such breach
or failure shall constitute a default under this Agreement (the “Default”), which shall entitle non-defaulting
Party to request Defaulting Party to rectify or remedy such Default with a reasonable period of time. If the Defaulting Party fails
to rectify or remedy such Default within the reasonable period of time or within 10 days of non-defaulting Party’s written
notice requesting for such rectification or remedy, the non-defaulting Party shall be entitled to elect any one of the following
remedial actions: (a) to terminate this Agreement and request the Defaulting Party to fully compensate its losses and damages;
(b) to request the specific performance by the Defaulting Party of its obligations hereunder and request the Defaulting Party to
fully compensate non-defaulting Party’s losses and damages; or (c) to enforce the pledge under the Party B’s Equity
Pledge Agreement by selling, auctioning or exchanging the pledged equity thereunder and receive payment in priority from the proceeds
derived therefrom, and in the meantime, request the Defaulting Party to fully compensate non-defaulting Party for any losses as
a result thereof.

 

		10.9.2	The rights and remedies provided for in this Agreement shall be accumulative and shall not affect
any other rights and remedies stipulated at law.

 

[THE SIGNATURE PAGE]

 

     

     

    

 

IN WITNESS WHEREOF, the Parties have caused
their authorized representatives to execute this Share Disposal Agreement as of the date first above written.

 

	Party A:	Wuhan Shengshi Leju Management Co., Ltd.
	 	 
	By:	/s/ ZHENG Wei	 
	Name:	ZHENG Wei
	Title:	Legal Representative
	 	 
	Party B:	ZHENG Wei
	 	 
	By:	/s/ ZHENG Wei	 
	 	 
	Party C:	Shengshi Leju (Wuhan) Technology Holdings Co. Ltd.
	 	 
	By:	/s/ ZHENG Wei	 
	Name:	ZHENG Wei
	Title:	Legal Representative

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