Document:

EX-10.9.2

 Exhibit 10.9.2 
 [Network18 Company’s Logo] 
 19 December, 2012 

To, 
 TV18 HSN Holdings Limited

 10, Diomidous Street, 
 Alphamega
Akropolis Building, 
 3rd Floor, Office 401, 2024 Nicosia, 
 Cyprus 
 REFERENCE: Trademark License Agreement dated 1st September, 2012 (“Agreement”) 

SUBJECT: First Addendum to the Agreement (“First Addendum”). 
 Dear Sir, 
 This is in reference to the Agreement between Network18 Media & Investments
Limited (“Licensor”) and TV18 HSN Holdings Limited (“Licensee”) and our subsequent discussions on amending the terms of the Agreement. 
 This letter records the mutual understanding between the Licensor and Licensee to amend the terms of the Agreement as follows: 

 

	 	1.	 	Schedule A to the Agreement is hereby replaced with the Schedule A annexed to this First Addendum. 

 

	 	2.	 	Except as provided herein, all other terms and conditions of the Agreement shall remain same. 

 Request you to please accord your approval to this First Addendum. 
 For Network18 Media &
Investments Limited, 
  

	
	 /s/ RDS Bawa

	(Authorized Signatory)
	Name: RDS Bawa
	Designation: Group CFO
	
	 

	Accepted
	For TV18 HSN Holdings Limited
	(Authorized Signatory)
	Name: CCY MANAGEMENT LIMITED
	Designation: Director

  

	
	[Letterhead for Network18 Media & Investment limited]

 SCHEDULE A TO TRADEMARK LICENSE AGREEMENT 

 

	1.	 	Licensor Trademarks shall include the “18” name and logo and any other aspects of Licensee’s trade/service names/dress/logo in which Licensor has
a proprietary interest. 

 “18 Logo”EX-10.9.3

 Exhibit 10.9.3 

 
 

 
 January 20, 2014 

To, 
 TV18 HSN Holdings Limited 
 10, Diomidous Street, 

Alphamega, Akropolis Building, 

3rd Floor, Office 401, 2024 Nicosia, 

Cyprus 
  

	 	Sub:	 	Second Addendum to the Trademark Lieense Agreement dated September 1, 2012 (“Agreement”) entered into between Network18 Media &
Investments Limited (“Licensor”) & TV18 HSN Holdings Limited (“Licensee”) 

 Dear Sir, 
 We write to you in connection with: the Agreement; the First Addendum to the Agreement
dated December 19, 2012 issued by the Licensor in favour of the Licensee and accepted by the Licensee (“First Addendum”); and the discussions between the Licensor and the Licensee in connection with extending the term of the
Agreement. 
 Clause 5.1 of the Agreement stipulates that the Agreement shall commence on September 1, 2012 and continue in force till
August 31, 2016. 
 Further to the discussions between the Licensor and the Licensee in connection with extending the term of the
Agreement, the Licensor hereby extends the term of the Agreement from August 31, 2016 till December 31, 2018. Accordingly, the Agreement shall now expire on December 31, 2018 instead of August 31, 2016. 

Except as provided herein, all other terms and conditions (including those pertaining to renewal of the Agreement) set out in the Agreement and the First
Addendum governing the use of the trademark licensed by the Licensor to the Licensee shall remain unchanged. 

Your truly, 
 For Network18 Media & Investments Limited 
  

	
	 /s/ R D S Bawa

	 Authorized Signatory

 Acknowledged and agreed 

For TV18 HSN Holdings Limited 
  

	
	 /s/ Milorad Vujnovic,

/s/ George Flourentzou

CCY MANAGEMENT LIMITED

Director

	 Authorized Signatory

 Network18 Media & Investments Limited 

Corp. Off.: Express Trade Tower, Plot No. 15-16, Sector-16A, Noida, Uttar Pradesh - 201301, India 

T +91 120 434 1818, 398 7777  F +91 120 432 4107  W www.network18online.com

 Regd. Office: 503, 504, 507, 5th Floor, Mercantile House, 15, Kasturba Gandhi Marg, New Delhi-110 001, IndiaEX-10.10.1

 Exhibit 10.10.1 

NETWORK18 OPTION AGREEMENT 

BETWEEN 
 GS HOME SHOPPING INC.

 AND 
 SAIF II
MAURITIUS COMPANY LIMITED 
 AND 

ORCHARD CENTAR MASTER LIMITED 

AND 
 MAKIRA SP5 LIMITED

 AND 
 NETWORK18
HOLDINGS LIMITED 
 AND 

TV18 HSN HOLDINGS LIMITED 

 This Network18 Option Agreement (“Agreement”) is made on 28th March 2014 
 Between: 

 

	(1)	GS HOME SHOPPING INC., a public listed company incorporated under the laws of Republic of Korea, having its registered office at GS Gangseo Tower, 10, Mullae-Dong 6-Ga, Youngdungpo-Gu, Seoul, 150-096 (hereinafter
referred to as “GSHS” which expression shall, unless repugnant to the context or meaning thereof deemed mean and include its successors, affiliates, representatives and permitted assigns); and 

 

	(2)	SAIF II MAURITIUS COMPANY LIMITED, a company incorporated under the laws of Mauritius, having its office at 3rd Floor, Raffles Tower, 19 Cybercity,
Ebène, Mauritius (hereinafter referred to as “SAIF” which expression shall, unless repugnant to the context or meaning thereof deemed mean and include its successors, affiliates, representatives and permitted assigns); and

  

	(3)	ORCHARD CENTAR MASTER LIMITED, a company incorporated under the laws of the British Virgin Islands, having its registered office at Romasco Place, Wickhams Cay 1, PO Box 3140, Road Town, Tortola, British Virgin
Islands, VG1110 (“CENTAR”) and MAKIRA SP5 LIMITED, a company incorporated under the laws of the Cayman Islands, having its registered office at Cricket Square, Hutchins Drive, PO Box 2681, Grand Cayman, Cayman Islands,
KY1-1111 (“MAKIRA”) (CENTAR and MAKIRA are hereinafter collectively referred to as “OCP” which expression shall, unless repugnant to the context or meaning thereof deemed mean and include successors,
affiliates, representatives and permitted assigns of CENTAR and MAKIRA); and 

  

	(4)	NETWORK18 HOLDINGS LIMITED, a limited liability company incorporated under the laws of Mauritius, having its registered office at 5th Floor, Ebene Esplanade, 24 Cybercity, Ebene, Mauritius (hereinafter referred
to as “Network18” which expression shall, unless repugnant to the context or meaning thereof deemed mean and include its successors, affiliates, representatives and permitted assigns); and 

 

	(5)	TV18 HSN HOLDINGS LIMITED, a company incorporated under the laws of Cyprus, and having its registered office at 10 Diomidous Street, Alphamega Akropolis Building, 3 Floor, Office 401, 2024 Nicosia, Cyprus
hereinafter referred to as the “Company” which expression shall, unless repugnant to the context or meaning thereof deemed mean and include its successors, affiliates, representatives and permitted assigns). 

(GSHS, SAIF, OCP, Network18 and the Company are hereinafter collectively referred to as “Parties” and individually as
“Party”). 
 Whereas: 
  

	(A)	The Parties had entered into the Network18 series O subscription agreement dated April 8, 2013 (“Network18 Subscription Agreement”) and the Network18 additional series O subscription agreement
dated October 1, 2013 (“Network18 Additional Subscription Agreement”) (the Network18 Subscription Agreement and the Network18 Additional Subscription Agreement are collectively referred to as “Subscription
Agreement”). Under the Subscription Agreement the Company had agreed to grant Network18 an option to subscribe to additional series O preference shares of the Company, in accordance with the Network18 Option Agreement entered into between
the Parties dated April 8, 2013 (“Network18 Option Agreement”) and the Network18 Additional Option Agreement entered into between the Parties dated October 1, 2013 (“Network18 Additional Option Agreement”
and together with the Network18 Option Agreement (the “Network18 Option Agreements”)). 

  
 1 

	(B)	Upon completion of the initial public offering (“IPO”) of the Company’s shares, the Company’s share capital shall comprise of a single class of shares. 

 

	(C)	Accordingly, the Parties have agreed to terminate the Network18 Option Agreements and enter into this Agreement such that with effect from the Effective Date, Network18 shall have the right to subscribe for additional
Equity Shares (as defined hereinafter) in lieu of series O preference shares, upon the terms, and subject to the conditions set forth hereunder. 

It is agreed: 
  

	1.	Interpretation 

  

	1.1	In this Agreement: 

 “Affiliate” means, any corporation or other entity that
controls, is controlled by, or is under common control with a party. For purposes of this definition, the terms “control” and “controlled” mean the power to determine the management or policies of a person by either ownership of
a majority of voting rights of its issued capital, or having the right to appoint a majority of the members of its board of directors or other management body, whether by contract or otherwise; 

“Affiliate Transferee” has the meaning given in Clause 10.2; 

“Business Day” means any day other than a Saturday or Sunday on which banks in Cyprus and Mauritius are open for the conduct
of normal banking business; 
 “Completion” has the meaning given in Clause 6.1; 

“Completion Date” means the 5th Business Day after the Exercise Date or
such other date as may be agreed in writing by the Parties; 
 “Continuing Provisions” means Clause 1
(Interpretation); Clause 8 (Confidentiality and Announcements); Clause 10 (Novation and Assignment); Clause 11 (Entire Agreement); Clause 12 (Severance and Validity); Clause 13 (Variations); Clause 14
(Remedies and Waiver); Clause 15 (Notices); and Clause 17 (Governing Law and Settlement of Disputes); 

“Constitutional Documents” means, in relation to the Company or a Party, its articles of association and/or bye-laws and/or any other comparable constitutional documents; 
 “Dispute” has the
meaning given in Clause 17.2; 
 “Effective Date” means the first closing date of the IPO on NASDAQ or NYSE in accordance
with the Company’s registration statement on Form F-1 which was confidentially filed with the SEC on February 8, 2014 and will be publically filed subsequently with the SEC and as contemplated in the underwriting agreement for such
offering between the Company and the underwriters; 
 “Encumbrance” means any mortgage, lien, charge (fixed or floating),
pledge, encumbrance, option, right to acquire, other third party right or claim, trust arrangement for the purpose of providing security or any other security or adverse interest of any kind (and including any agreement, arrangement or commitment to
create and/or give any of the foregoing); 
 “Equity Shares” has the meaning given in the Subscription Agreement; 

“Exercise Date” has the meaning given in Clause 4; 

“Exercise Notice” means a written notice in the form set out in Schedule 1 to be given by Network18 to the Company pursuant to
Clause 4; 

  
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 “INR” shall mean the lawful currency of the Republic of India; 

“Network18 Additional Option Agreement” has the meaning given in Recital A; 

“Network18 Additional Subscription Agreement” has the meaning given in Recital A; 

“Network18 Option Agreement” has the meaning given in Recital A; 

“Network18 Option Agreements” has the meaning given in Recital A; 

“Network18 Subscription Agreement” has the meaning given in Recital A; 

“Option” has the meaning given in Clause 3.1; 

“Option Long Stop Date” means the date falling on the third anniversary of
10th April 2013; 
 “Option Shares” means up to 2,231,892 Equity
Shares; 
 “Original Purchase Price” has the meaning given in the Subscription Agreement; 

“Party” means a party to this Agreement; 

“Subscription Agreement” has the meaning given in Recital A; 

“Subscription Price” means the subscription price payable for the Additional Option Shares as set out in Clause 5; 

“Tax” or “Taxation” means and includes all forms of taxation and statutory and governmental, state,
provincial, local governmental or municipal charges, duties, contributions and levies, withholdings and deductions, in each case whether of the United Kingdom or elsewhere and whenever imposed and all related penalties, charges, costs and interest;
and 
 “USD” means the lawful currency of the United States of America. 

 

	1.2	Unless otherwise defined in this Agreement, capitalised terms used herein shall have the meanings given to them in the Subscription Agreement. 

 

	1.3	Any reference to “writing” or “written” means any method of reproducing words in a legible and non-transitory form (excluding, for the avoidance
of doubt, email). 

  

	1.4	References to “include” or “including” are to be construed without limitation. 

  

	1.5	References to a “person” include any individual, company, partnership, joint venture, firm, association, trust and any governmental or regulatory authority. 

 

	1.6	The headings are inserted for convenience only and do not affect the construction of this Agreement. 

  

	1.7	Unless the context otherwise requires, words in the singular include the plural and vice versa and a reference to any gender includes all other genders. 

 

	1.8	References to Clauses, Recitals and Schedules are to clauses and recitals of, and schedules to, this Agreement. The Schedules form part of this Agreement. 

 

	1.9	References to any statute or statutory provision include a reference to that statute or statutory provision as amended, consolidated or replaced from time to time (whether before or after the date of this Agreement) and
include any subordinate legislation made under the relevant statute or statutory provision. 

  
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	2.	Effective Date and Termination of the Network18 Option Agreements 

  

	2.1	This Agreement shall become effective upon the Effective Date. 

  

	2.2	Upon this Agreement becoming effective on the Effective Date, the Network18 Option Agreements shall automatically terminate and no longer of any force or effect; provided that in the event the Effective Date does not
occur on or before December 31, 2014, this Agreement shall automatically terminate and no longer of any force or effect. 

  

	3.	Grant of Option 

  

	3.1	In consideration of the Parties agreeing to terminate the OCP Option Agreements, the Company hereby grants to Network18 an option (“Option”) to subscribe for the Option Shares, upon the terms and
subject to the conditions set out in this Agreement. 

  

	3.2	Subject to Clause 6A, following the exercise of the Option, the Company shall issue and allot the relevant number of Option Shares to Network18 as set out in the relevant Exercise Notice and credited as fully paid and
free from all Encumbrances. 

  

	3.3	Each of OCP (other than with respect to any agreement in writing between the Parties), SAIF and GSHS (other than with respect to any agreement in writing between the Parties) hereby unconditionally and irrevocably waive
for themselves any rights of pre-emption or any other preferential purchase rights as they may be entitled to, in relation to the issue of the Option Shares to Network18, and shall procure that any and all of their respective Affiliates holding
Equity Shares also waives in writing any rights of pre-emption or any other preferential purchase right as it may be entitled to exercise, in relation to the issue of the Option Shares to Network18. 

 

	4.	Exercise of Option 

  

	4.1	Subject to Clause 6A, Network18 may exercise the Option in whole or in part (or in several parts) at any time (or times) after the Effective Date until the Option Long Stop Date by serving an Exercise Notice on the
Company. For the purposes of this Clause 4.1, the date of exercise of the Option (the “Exercise Date”) shall be the date on which the Company shall be deemed to have received the Exercise Notice in accordance with Clause 15 below.

  

	4.2	Service of an Exercise Notice by Network18 shall oblige the Company to issue and allot to Network18, and for Network18 to subscribe for, the relevant number of Option Shares as set out in the relevant Exercise Notice on
the Completion Date. 

  

	4.3	Once given, an Exercise Notice may not be revoked without the written consent of the Company. 

  

	5.	Consideration 

 Subject to Clause 6A, the Subscription Price for the issue and allotment
by the Company of the Option Shares to Network18 shall be satisfied in cash at Completion, and shall be an amount in USD equal to the relevant number of Option Shares to be subscribed for by Network18 multiplied by the Original Purchase Price as set
out in the Exercise Notice. 
  

	6.	Completion 

  

	6.1	Completion of the issue and allotment of the relevant number of Option Shares (“Completion”) shall take place on the Completion Date at the offices of the Company, or at such other place as may be
mutually agreed between Network18 and the Company in writing. 

  
 4 

	6.2	At Completion, Network18 shall, subject to Clause 6A, pay the Subscription Price set out in the relevant Exercise Notice to the Company by telegraphic transfer in immediately available funds to an account of the Company
(such account being nominated in writing no later than two (2) Business Days before the Completion Date). 

  

	6.3	At Completion the Company shall: 

  

	 	(a)	deliver to Network18 certified copies of the resolutions of the Board and (as applicable) the shareholders of the Company, duly certified by a director as true and complete, authorising the allotment and issue of the
relevant number of Option Shares and approving Network18’s entry into the register of members of the Company as at Completion; 

  

	 	(b)	allot and issue the relevant number of Option Shares credited as fully paid and free from Encumbrances to Network18 as set out in the relevant Exercise Notice; 

 

	 	(c)	issue: (a) the duly stamped share certificates representing the relevant number of Option Shares (if the Equity Shares are in physical form) as set out in the relevant Exercise Notice and deliver the said share
certificates to Network18; or (b) Option Shares in dematerialized form (if the Equity Shares are in dematerialized form) as set out in the relevant Exercise Notice; and 

 

	 	(d)	make the necessary entries in the Register of Members of the Company to reflect Network18 as the registered owner of the relevant number of Option Shares and deliver a certified true copy of the same to Network18.

  

	6.4	If for any reason the Company does not do and/or procure to be done all those things required of it under Clause 6.3, Network18 may elect (in addition and without prejudice to all other rights or remedies available to
it) to terminate this Agreement or to fix a new date for Completion. 

  

	6.5	The Continuing Provisions shall continue to have effect, notwithstanding the termination of the Agreement pursuant to Clause 6.4. 

  

	6A.	Alternate Mechanism 

 Subject to Applicable Law, the Parties agree that Network18 shall
have the right to exercise the Option and subscribe to the Option Shares by way of an alternate mechanism, an example of which is set out below or any other mechanism to which the Parties may agree. 

Example - Network18 shall have the right to exercise the Option and subscribe to the Option Shares by paying a portion of the Subscription
Price to the Company and by procuring its Affiliate in India to pay the INR equivalent of the balance Subscription Price to the Indian subsidiary of the Company. In order to give effect to such right, the Parties will enter into such agreements as
may be necessary to give effect the exercise of the Option by Network18 as contemplated by this Clause 6A. 
  

	7.	Warranties 

  

	7.1	Each Party warrants to the other that: 

  

	 	(a)	it has the requisite power and authority to enter into and perform each of its obligations under this Agreement, each of which constitutes a valid and binding obligation enforceable against that Party in accordance with
its terms; and 

  
 5 

	 	(b)	its entry into and compliance with the terms of this Agreement does not and will not conflict with or constitute a default under any provision of: 

 

	 	(i)	any Encumbrance, agreement or instrument to which it is party or by which it and/or any of its assets is bound; or 

  

	 	(ii)	its Constitutional Documents; or 

  

	 	(iii)	any order, judgment, award, injunction, decree, ordinance or regulation or any other restriction of any kind or character by which that Party and/or any of its assets is bound. 

 

	7.2	Each warranty given by a Party in this Agreement shall be construed as separate, independent and not limited by any of the other warranties given by that Party. 

 

	8.	Confidentiality and Announcements 

  

	8.1	Except as provided in Clause 8.2, each Party undertakes to the other to keep confidential, and to procure that their respective Affiliates keep confidential, the existence of this Agreement, all information which it has
received as a result of negotiating, entering into or performing this Agreement and to use the information only for the purposes contemplated by this Agreement. 

  

	8.2	A Party may disclose any information that it is otherwise required to keep confidential under this Clause 8: 

  

	 	(a)	to its professional advisers, consultants and employees or officers, provided that such disclosure is strictly on a need to know basis only in relation to matters arising in connection with the subject matter of this
Agreement and that the disclosing Party procures that such persons comply with the provisions of this Clause 8 as if they were that Party; 

  

	 	(b)	to the extent required by law or any securities exchange, regulatory or governmental body or Taxation authority; or 

  

	 	(c)	to the extent that such information comes into the public domain other than as a result of a breach by a Party of this Clause 8, 

provided that prior written notice of any confidential information to be disclosed pursuant to this Clause 8 shall be given to the other Party.

  

	8.3	A Party may make an announcement relating to this Agreement if (and only to the extent) required by the law of any relevant jurisdiction or any securities exchange, regulatory or governmental body. 

 

	9.	Further Assurance 

 Each of the Parties shall from time to time and at their own cost do,
execute and deliver or procure to be done, executed and delivered all such further acts, documents and things required by law or as may be necessary or desirable to give full effect to this Agreement and the rights, powers and remedies conferred
under this Agreement. 
  

	10.	Novation and Assignment 

  

	10.1	Subject to Clause 10.2, no Party shall be entitled to assign any of its rights, title and interest under this Agreement or any of its obligations hereunder except with the prior written consent of the other Parties.

  
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	10.2	Network18 may at any time novate, transfer or assign any of its rights, obligations, title and interest under this Agreement to any of its Affiliates (the “Affiliate Transferee”) and the Parties agree
that they will do, execute and deliver or procure to be done, executed and delivered all such further acts, documents and things required by law or as may be necessary or desirable to give full effect to such novation, transfer or assignment,
provided that notwithstanding anything contained in this Agreement, Network18 acknowledges, agrees and confirms that (i) any novation, assignment or transfer by Network18 of any of its rights, obligations, title and interest under this
Agreement to an Affiliate Transferee, shall not relieve Network18 from any of its obligations hereunder; (ii) Network18 shall procure that such Affiliate Transferee novates, transfers or assigns the rights, obligations, title and interest
transferred to such Affiliate Transferee, to Network18, prior to such Affiliate Transferee ceasing to be an Affiliate of Network18 or procure that such Affiliate Transferee transfers such rights, obligations, title and interest to another Affiliate
of Network18. 

  

	11.	Entire Agreement 

 On and from the Effective Date, this Agreement together with the
Subscription Agreement contains the whole agreement between the parties relating to the transactions contemplated by this Agreement and supersedes and extinguishes altogether all rights and obligations under all previous agreements, whether oral in
writing, between the Parties and/or any of their Affiliates relating to these transactions contemplated under this Agreement including the Network18 Option Agreement and the Network18 Additional Option Agreement. 

 

	12.	Severance and Validity 

 If any provision of this Agreement is or becomes illegal,
invalid or unenforceable in any respect under the law of any jurisdiction, such provision shall be deemed to be severed from this Agreement and the Parties shall replace it with a provision which has an effect as close as possible to the deficient
provision. The remaining provisions will remain in full force in that jurisdiction and all provisions will continue in full force in any other jurisdiction. 
  

	13.	Variations 

 No variation of this Agreement shall be effective unless in writing and
signed by or on behalf of the Parties. 
  

	14.	Remedies and Waivers 

 No failure to exercise, nor any delay in exercising, on the part
of any Party, any right or remedy under this Agreement shall operate as a waiver, nor shall any single or partial exercise of any right or remedy prevent any further or other exercise or the exercise of any other right or remedy. The rights and
remedies provided in this Agreement are cumulative and not exclusive of any rights or remedies provided by law. 
  

	15.	Notices 

  

	15.1	Any notice or other communication to be given under or in connection with this Agreement (“Notice”) shall be in the English language in writing and signed by or on behalf of the Party giving it and
marked for the attention of the other Party. A Notice may be delivered personally or sent by fax, pre-paid recorded delivery or registered courier service to the address or fax number provided in Clause 15.3.

  
 7 

	15.2	A Notice shall be deemed to have been received: 

  

	 	(a)	at the time of delivery if delivered personally; 

  

	 	(b)	at the time of transmission if sent by fax; 

  

	 	(c)	two (2) Business Days after the time and date of posting if sent by pre-paid recorded delivery; or 

 

	 	(d)	three (3) Business Days after the time and date of posting if sent by international courier, 

provided that if deemed receipt of any Notice occurs after 6.00 p.m. or is not on a Business Day, deemed receipt of the Notice shall be 9.00
a.m. on the next Business Day. References to time in this Clause 15 are to local time in the country of the addressee. 
  

	15.3	The addresses and fax numbers for service of Notices are: 

 In the case of SAIF to:

 Mr. Ravi Adusumalli 

SAIF II Mauritius Company Limited 

3rd Floor, Raffles Tower, 

19 Cybercity, Ebène, 

Mauritius 
 Telephone No.: +230
4645995 
 Facsimile No.: +230 4645115 

Attention: Mr. Ravi Adusumalli 

Copy to: 
 SAIF Advisors Ltd. 

Suites 2516-2520, 
 Two Pacific
Place 
 88 Queensway, Hong Kong 

Attention: Mr. Brandon Lin 

Telephone No: + 852 2918 2206 

Facsimile No: + 852 2234 9116 

Attention: Mr. Jason So 

Telephone No.: + 852 2918 2205 

Facsimile No.: + 852 2234 9116 

If to Network18 to: 

5th Floor, Ebene Esplanade, 
 24
Cybercity, Ebene, 
 Mauritius 

Telephone No: +230 4012300 

Facsimile No: +230 401 2301 

If to the Company, to: 

TV18 HSN Holdings Limited 
 10
Diomidous Street, 

  
 8 

 Alphamega Akropolis Building, 

3 Floor, Office 401, 2024 

Nicosia, Cyprus 
 Telephone No:
+357 22 361 611 
 Facsimile No: +357 22 361 650 

If to the GSHS, to: 

GS Gangseo Tower 
 10, Mullae-Dong
6-Ga 
 Youngdungpo-Gu, Seoul, 150-096 

Telephone No.: +822 2007 4133 

Facsimile No.: +822 2007 0272 

If to OCP, to: 

34/F Gloucester Tower, 
 The
Landmark, 
 15 Queen’s Road Central, 

Hong Kong 
 Telephone No.: +852
2236 0552 / +852 2236 0630 
 e-Facsimile No.: +852 2236 0600 

Attention: Ben Harris and Ji-ll Kwon 
  

	15.4	A Party shall notify the other Party of any change to its address in accordance with the provisions of this Clause 15 provided that such notification shall only be effective on the later of the date specified in the
notification and 5 (five) Business Days after deemed receipt. 

  

	16.	Counterparts 

 This Agreement may be executed in counterparts and shall be effective when
each party has executed a counterpart. Each counterpart shall constitute an original of this Agreement. 
  

	17.	Governing Law and Settlement of Disputes 

  

	17.1	This Agreement shall be governed by, and construed in accordance with, the laws of Cyprus. 

  

	17.2	The Parties agree that in the event of any disputes, differences, controversies and questions directly or indirectly arising at any time under, out of, in connection with or in relation to this Agreement (or the subject
matter of this Agreement) including, without limitation, all disputes, differences, controversies and questions relating to the validity, interpretation, construction, performance and enforcement of any provision of this Agreement
(“Dispute”), the Parties shall attempt to resolve the Dispute through good faith consultation and such consultation shall begin promptly after one Party has given to the other Parties a written request for such consultation.

  

	17.3	 In the event of such measures at consultation not resulting in a resolution of such Dispute, then within a period of thirty (30) days of the same
being referred to consultation any Party may refer such Dispute to final and binding arbitration. Such arbitration shall be governed by the rules of the International Chamber of Commerce and shall be held in London. All proceedings of such
arbitration shall be in the English language. Each of the Parties hereto acknowledges and agrees that the other Parties would be damaged irreparably in the event any of the provisions of this Agreement are not performed in accordance with their
specific terms or otherwise are breached. 

  
 9 

 
Accordingly, each of the Parties agree that the other Parties shall be entitled to an injunction or injunctions to prevent breaches of the provisions of this Agreement and to enforce specifically
this Agreement and the terms and provisions hereof, in addition to any other remedy to which they may be entitled, at equity or in law. 
  

	17.4	The Parties agree that the arbitral panel shall comprise of a panel of three arbitrators, one arbitrator to be appointed by the Party or Parties referring the Dispute, one arbitrator to be appointed by the respondents
named, and the third arbitrator to be appointed by the first two arbitrators, all in accordance with the rules of the International Chamber of Commerce. In the event that any appointments are not made as specified herein within 14 (fourteen) days of
notification by either party of a Dispute, such appointments shall be made in accordance with the rules of the International Chamber of Commerce. 

  

	17.5	Arbitration awards rendered shall be final and binding and shall not be subject to any form of appeal. The losing Party(ies), as determined by the arbitrators, shall pay all reasonable out-of-pocket expenses (including,
without limitation, reasonable attorneys’ fees) incurred by the prevailing Party(ies), as determined by the arbitrators, in connection with any Dispute unless the arbitrators direct otherwise. 

  
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 Schedule 1 

Form of Exercise Notice 
  

	To:	TV18 HSN Holdings Limited 

 10 Diomidous Street, 

Alphamega Akropolis Building, 
 3
Floor, 
 Office 401, 
 2024
Nicosia, 
 Cyprus 
 Date: [—] 
 Dear Sirs, 

Option Shares in TV18 HSN Holdings Limited 
 We refer to
the Amended and Restated Network18 Option Agreement dated [—] between, amongst others, you and us (the “Agreement”). This is an Exercise Notice pursuant to Clause [4.1] of the
Agreement. Unless otherwise defined in this Exercise Notice, capitalised terms used in it shall have the meanings given to them in the Agreement. 
 We give
you notice pursuant to Clause [4] of the Agreement of our exercise of the Option in relation to the Option Shares. In accordance with the Agreement, the number of Option Shares to be acquired by us and the Subscription Price to be paid to you by us
is set out below. 
 [—] Limited 

 

			
	Number of Option Shares to be acquired	  	[—] Shares
	Subscription Price	  	USD [—]

 In accordance with Clause 6 of the Agreement, Completion in respect of the Option Shares set out in this Exercise Notice shall
take place on [the fifth (5th) Business Day following the date on which you shall be deemed to have received this Exercise Notice in accordance with Clause 15 of the Agreement] [, or such
later date as we may notify you in writing in accordance with the provisions of Clause 6 of the Agreement]. 
  

	
	Yours faithfully,
	
	  

	For and on behalf of
	[Network18]

  
 11 

 IN WITNESS WHEREOF, the Parties hereto have, or have caused their duly authorized representatives to,
execute this Agreement on the day and year first hereinabove written. 

 

			
	Witnessed by:
		
	Name:	 	 ANITA CHAN

		
	Address:	 	 2516-2520 TWO PACIFIC PLACE

	
	 88 QUEENSWAY, HONG KONG

		
		 	
		
	Name:	 	 SOPHIA PROTOPAPA

		
	Address:	 	 10, DIOMIDOUS STREET

	
	 ALPHAMEGA AKROPOLIS BUILDING

	
	 3RD FLOOR, OFFICE 401

	
	 2024 NICOSIA, CYPRUS

		
		 	
		
	Name:	 	 LIM HO SHIM

		
	Address:	 	 10 MULLAE DONG 6 GA

	
	 YOUNGDUNGPO GU SEOUL KOREA

		
		 	
		
	Name:	 	 ADARSH GOBURDHAN

		
	Address:	 	 POPE HENESSY STREET

	
	 CUREPIPE

		
		 	
		
	Name:	 	 MIMI LAI

		
	Address:	 	 OCP ASIA (HK) LTD.

	
	 34/F GLOUCESTER TOWER

	
	 THE LANDMARK, 15 QUEEN’S RD CENTRAL

	
	 HONG KONG

		
		 	
		
	Name:	 	 MIMI LAI

		
	Address:	 	 OCP ASIA (HK) LTD.

	
	 34/F GLOUCESTER TOWER

	
	 THE LANDMARK, 15 QUEEN’S RD CENTRAL

	
	 HONG KONG

			
	SAIF II MAURITIUS COMPANY LIMITED
		
	By:	 	 /s/ ANDREW Y. YAN

		
	Name:	 	ANDREW Y. YAN
		
	Title:	 	AUTHORIZED SIGNATORY
	
	TV18 HSN HOLDINGS LIMITED
		
	By:	 	/s/ MILORAD VUJNOVIC
		
	By:	 	 /s/ GEORGE FLOURENTZOU

		
	Name:	 	MILORAD VUJNOVIC
		
		 	GEORGE FLOURENTZOU
		
	Title:	 	CCY MANAGEMENT LIMITED DIRECTOR
	
	GS HOME SHOPPING INC.
		
	By:	 	 /s/ HUH, TAE SOO

		
	Name:	 	HUH, TAE SOO
		
	Title:	 	PRESIDENT & CEO
	
	NETWORK18 HOLDINGS LIMITED
		
	By:	 	 /s/ ASLAM KOOMAR

		
	Name:	 	ASLAM KOOMAR
		
	Title:	 	DIRECTOR
	
	ORCHARD CENTAR MASTER LIMITED
		
	By:	 	 /s/ BENJAMIN HARRIS

		
	Name:	 	BENJAMIN HARRIS
		
	Title:	 	AUTHORIZED SIGNATORY
	
	MAKIRA SP5 LIMITED
		
	By:	 	 /s/ BENJAMIN HARRIS

		
	Name:	 	BENJAMIN HARRIS
		
	Title:	 	AUTHORIZED SIGNATORY
		
		 	
		
		 	
		
		 	
		
		 	
		
		 	
		
		 	

 
 

  
 12

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