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Exhibit
4.2

FORM OF PLACEMENT AGENT WARRANT

 

NEITHER THE ISSUANCE AND SALE OF THE SECURITIES REPRESENTED BY THIS
DOCUMENT NOR THE SECURITIES INTO WHICH THESE SECURITIES ARE
CONVERTIBLE HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933,
AS AMENDED, OR APPLICABLE STATE SECURITIES LAWS. THE SECURITIES MAY
NOT BE OFFERED FOR SALE, SOLD, TRANSFERRED OR ASSIGNED (I) IN THE
ABSENCE OF (A) AN EFFECTIVE REGISTRATION STATEMENT FOR THE
SECURITIES UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR (B) AN
OPINION OF COUNSEL (WHICH COUNSEL SHALL BE SELECTED BY THE HOLDER
AND REASONABLY APPROVED BY THE COMPANY), IN A GENERALLY ACCEPTABLE
FORM, THAT REGISTRATION IS NOT REQUIRED UNDER SAID ACT OR (II)
UNLESS SOLD PURSUANT TO RULE 144 OR RULE 144A UNDER SAID ACT.
NOTWITHSTANDING THE FOREGOING, THE SECURITIES MAY BE PLEDGED IN
CONNECTION WITH A BONA FIDE MARGIN ACCOUNT OR OTHER LOAN OR
FINANCING ARRANGEMENT SECURED BY THE SECURITIES.

 

---------------------------------------

 

BRIGHT MOUNTAIN MEDIA, INC.

 

COMMON STOCK PURCHASE WARRANT

 

Dated:
December 28, 2018

 

Number of shares:
283,625                                                                                                

Holder:
Spartan Capital
Securities, LLC

 

Exercise
Price per Share: $0.65

 

Expiration
Date: December 28, 2023 (the "Expiration Date")

 

FOR VALUE RECEIVED, Bright Mountain Media, Inc., a
corporation incorporated under the laws of the State of Florida
(the “Company”), hereby
certifies that Spartan Capital Securities, LLC, or its assigns (the
“Warrant
Holder”), is entitled, subject to the terms set forth
below, to purchase from the Company TWO HUNDRED EIGHTY THREE THOUSAND SIX HUNDRED
TWENTY FIVE (283,625) shares (the “Warrant Shares”) of
common stock, $0.01 par value (the “Common Stock”), of the
Company at an exercise price of Sixty-Five Cents (US$0.65) per
share (as adjusted from time to time as provided in Section 6, per
Warrant Share (the “Exercise Price”), at any
time and from time to time from and after the date thereof and
through and including 5:00 p.m. New York City time on the
Expiration Date. This Warrant is being issued as compensation to
the Warrant Holder under the terms of the Confidential Private
Offering Memorandum for Accredited Investors Only dated December
13, 2018 (the "Memorandum") and the Placement
Agent Agreement dated December 3, 2018 by and between the Company
and the Warrant Holder. All terms not otherwise defined herein
shall have the same meaning as in the Memorandum.

 

This
Warrant is subject to the following terms and
conditions:

 

1. Registration of Warrant. The
Company shall register this Warrant upon records to be maintained
by the Company for that purpose (the “Warrant Register”), in
the name of the record Warrant Holder hereof from time to time. The
Company may deem and treat the registered Warrant Holder of this
Warrant as the absolute owner hereof for the purpose of any
exercise hereof or any distribution to the Warrant Holder, and for
all other purposes, and the Company shall not be affected by notice
to the contrary.

 

2. Investment Representation. The
Warrant Holder by accepting this Warrant represents that the
Warrant Holder is acquiring this Warrant for its own account for
investment purposes and not with the view to any offering or
distribution and that the Warrant Holder will not sell or otherwise
dispose of this Warrant or the underlying Warrant Shares in
violation of applicable securities laws. The Warrant Holder
acknowledges that the certificates representing any Warrant Shares
will bear a legend indicating that they have not been registered
under the United States Securities Act of 1933, as amended (the
“1933
Act”) and may not be sold by the Warrant Holder except
pursuant to an effective registration statement or pursuant to an
exemption from registration requirements of the 1933 Act and in
accordance with federal and state securities laws.

 

3. Validity of Warrant and Issue of
Shares. The Company represents and warrants that this
Warrant has been duly authorized and validly issued and warrants
and agrees that all of Common Stock that may be issued upon the
exercise of the rights represented by this Warrant will, when
issued upon such exercise, be duly authorized, validly issued,
fully paid and nonassessable and free from all taxes, liens and
charges with respect to the issue thereof. The Company further
warrants and agrees that during the period within which the rights
represented by this Warrant may be exercised, the Company will at
all times have authorized and reserved a sufficient number of
Common Stock to provide for the exercise of the rights represented
by this Warrant.

 

4.

Registration of Transfers and Exchange
of Warrants.

 

a.           Subject
to compliance with the legend set forth on the face of this
Warrant, the Company shall register the transfer of any portion of
this Warrant in the Warrant Register, upon surrender of this
Warrant with the Form of Assignment attached hereto duly completed
and signed, to the Company at the office specified in or pursuant
to Section 8. Upon any such registration or transfer, a new warrant
to purchase Common Stock, in substantially the form of this Warrant
(any such new warrant, a “New Warrant”), evidencing
the portion of this Warrant so transferred shall be issued to the
transferee and a New Warrant evidencing the remaining portion of
this Warrant not so transferred, if any, shall be issued to the
transferring Warrant Holder. The acceptance of the New Warrant by
the transferee thereof shall be deemed the acceptance of such
transferee of all of the rights and obligations of a Warrant Holder
of a Warrant.

 

b.           This
Warrant is exchangeable, upon the surrender hereof by the Warrant
Holder to the office of the Company specified in or pursuant to
Section 8 for one or more New Warrants, evidencing in the aggregate
the right to purchase the number of Warrant Shares which may then
be purchased hereunder. Any such New Warrant will be dated the date
of such exchange.

 

5.

Exercise of
Warrants.

 

a.           Exercise
of this Warrant shall be made upon surrender of this Warrant with
the Form of Election to Purchase attached hereto duly completed and
signed to the Company, at its address set forth in Section 8.
Payment upon exercise may be made at the written option of the
Warrant Holder in cash, wire transfer or by certified or official
bank check payable to the order of the Company equal to the
applicable aggregate purchase price for the number of Warrant
Shares specified in such form (as such exercise number shall be
adjusted to reflect any adjustment in the total number of Warrant
Shares issuable to the Warrant Holder per the terms of this
Warrant) and the Warrant Holder shall thereupon be entitled to
receive the number of duly authorized, validly issued, fully-paid
and non-assessable Warrant Shares determined as provided herein.
The Company shall promptly (but in no event later than five (5)
business days after the Date of Exercise (as defined herein) issue
or cause to be issued and cause to be delivered to or upon the
written order of the Warrant Holder and in such name or names as
the Warrant Holder may designate (subject to the restrictions on
transfer described in the legend set forth on the face of this
Warrant), a certificate for the Warrant Shares issuable upon such
exercise, with such restrictive legend as required by the 1933 Act,
as applicable. Any person so designated by the Warrant Holder to
receive Warrant Shares shall be deemed to have become holder of
record of such Warrant Shares as of the Date of Exercise of this
Warrant.

 

b.           The
Warrant Holder may alternatively exercise this Warrant, in whole or
in part, according to the terms hereof by surrendering this Warrant
to the Company, at its address set forth in Section 8, with the
Notice of Cashless Exercise attached hereto having then been duly
executed and delivered by the Holder, in which event the Company
shall issue to the Warrant Holder the number of shares of Common
Stock computed using the following formula:

 

X=Y
(A-B)

A

 

Where
X= the number of shares of Common Stock to be issued to the Warrant
Holder

 

Y=            

the number of
shares of Common Stock purchasable under the Warrant or, if only a
portion of the Warrant is being exercised, the portion of the
Warrant being exercised (at the date of such
calculation)

 

A=            

Fair Market Value
(as defined below) as of the Date of Exercise

 

B=            

Exercise Price (as
adjusted to the date of such calculation)

 

For
purposes of this Section 5.b, the per share “Fair Market Value” of the
Warrant Shares shall mean:

 

i.

If the
Company’s Common Stock is publicly traded, the per share fair
market value of the Warrant Shares shall be the average of the
closing prices of the Common Stock as quoted on the principal
quotation market for the Common Stock, or the principal exchange on
which the Common Stock is listed, in each case for the five trading
days ending one trading day prior to the date of determination of
Fair Market Value.

 

ii.

If the
Company’s Common Stock is not so publicly traded, the per
share fair market value of the Warrant Shares shall be such fair
market value as is determined in good faith by the Board of
Directors of the Company after taking into consideration factors it
deems appropriate, including, without limitation, recent sale and
offer prices of the capital stock of the Company in private
transactions negotiated at arm’s length.

 

For
purposes of this Warrant, “Date of Exercise” means
the date on which the Company shall have received (i) this Warrant
(or any New Warrant, as applicable), with the Form of Election to
Purchase or Notice of Cashless Exercise attached hereto (or
attached to such New Warrant) appropriately completed and duly
signed, and (ii) payment of the applicable Exercise Price for the
number of Warrant Shares so indicated by the Warrant Holder to be
purchased.

 

For
purposes of Rule 144 promulgated under the 1933 Act, it is
intended, understood and acknowledged that the Warrant Shares
issued in a cashless exercise transaction in the manner described
above shall be deemed to have been acquired by the Warrant Holder,
and the holding period for the Warrant Shares shall be deemed to
have commenced, on the date this Warrant was originally
issued.

 

c.           This
Warrant shall be exercisable at any time and from time to time for
such number of Warrant Shares as is indicated in the attached Form
of Election to Purchase. If less than all of the Warrant Shares
which may be purchased under this Warrant are exercised at any
time, the Company shall issue or cause to be issued, at its
expense, a New Warrant evidencing the right to purchase the
remaining number of Warrant Shares for which no exercise has been
evidenced by this Warrant.

 

6. Adjustment of Exercise Price and
Number of Shares. The character of the shares of stock or
other securities at the time issuable upon exercise of this Warrant
and the Exercise Price therefor, are subject to adjustment upon the
occurrence of the following events:

 

a.           Adjustment
for Stock Splits, Stock Dividends, Recapitalizations, Etc.
The Exercise Price of this Warrant and the number of shares of
Common Stock or other securities at the time issuable upon exercise
of this Warrant shall be appropriately adjusted to reflect any
stock dividend, stock split, combination of shares,
reclassification, recapitalization or other similar event affecting
the number of outstanding shares of stock or
securities.

 

b.           Adjustment
for Reorganization, Consolidation, Merger, Etc. In case of
any consolidation or merger of the Company with or into any other
corporation, entity or person, or any other corporate
reorganization, in which the Company shall not be the continuing or
surviving entity of such consolidation, merger or reorganization
(any such transaction being hereinafter referred to as a
“Reorganization”), then,
in each case, the holder of this Warrant, on exercise hereof at any
time after the consummation or effective date of such
Reorganization (the “Effective Date”), shall
receive, in lieu of the shares of stock or other securities at any
time issuable upon the exercise of the Warrant issuable on such
exercise prior to the Effective Date, the stock and other
securities and property (including cash) to which such holder would
have been entitled upon the Effective Date if such holder had
exercised this Warrant immediately prior thereto (all subject to
further adjustment as provided in this Warrant).

 

c.           Certificate
as to Adjustments. In case of any adjustment or readjustment
in the price or kind of securities issuable on the exercise of this
Warrant, the Company will promptly give written notice thereof to
the holder of this Warrant in the form of a certificate, certified
and confirmed by the Board of Directors of the Company, setting
forth such adjustment or readjustment and showing in reasonable
detail the facts upon which such adjustment or readjustment is
based.

 

7. Fractional Shares. The Company
shall not be required to issue or cause to be issued fractional
Warrant Shares on the exercise of this Warrant. The number of full
Warrant Shares that shall be issuable upon the exercise of this
Warrant shall be computed on the basis of the aggregate number of
Warrants Shares purchasable on exercise of this Warrant so
presented. If any fraction of a Warrant Share would, except for the
provisions of this Section 7, be issuable on the exercise of this
Warrant, the Company shall, at its option, (i) pay an amount in
cash equal to the Exercise Price multiplied by such fraction or
(ii) round the number of Warrant Shares issuable, up to the next
whole number.

 

8. Notice. All notices and other
communications hereunder shall be in writing and shall be deemed to
have been given (i) on the date they are delivered if delivered in
person; (ii) on the date initially received if delivered by
facsimile transmission followed by registered or certified mail
confirmation; (iii) on the date delivered by an overnight courier
service; or (iv) on the third business day after it is mailed by
registered or certified mail, return receipt requested with postage
and other fees prepaid as follows:

 

If to
the Company:

 

Bright
Mountain Media, Inc.

6400
Congress Avenue, Suite 2050

Boca
Raton, Florida 33487

Attn:
W. Kip Speyer

 

If to
the Warrant Holder:

 

Spartan
Capital Securities, LLC

45
Broadway

New
York, New York 10006

Attention: John
Lowry

 

9.

Registration Rights.

 

a. [intentionally
omitted]

 

b. [intentionally
omitted]

 

c. Piggyback Rights. If the
Company at any time proposes to register any of its securities
under the 1933 Act for sale, whether for its own account or for the
account of other security holders or both (except with respect to
(x) registration statements on Form S-8 or Form S-4 or their then
equivalent forms, or another form not available for registering the
Registrable Securities for sale to the public, (y) a registration
relating solely to employee benefit plans, or (z) a registration
relating solely to a Rule 145 transaction), it will each such time:
(i) promptly give to the Warrant Holder written notice thereof
(which shall include a list of the jurisdictions in which the
Company intends to attempt to qualify such securities under the
applicable blue sky or other state securities laws); and (ii)
include in such registration (and any related qualification under
blue sky laws or other compliance), and in any underwriting
involved therein, all of the Warrant Shares (the "Registrable Securities")
specified in a written request made by the Warrant Holder within
fifteen (15) days after receipt of the written notice from the
Company described in clause (i) above, except that the number of
Registrable Securities included in such registration on behalf of
the Warrant Holder, if any, shall be subject to the provisions set
forth in Section 9.e below. Such written request may specify all or
a part of the Warrant Holder's Registrable Securities.

 

d. Underwritten Offering. If the
registration of which the Company gives notice is for an
underwritten offering of Common Stock, the Company shall so advise
the Warrant Holder as a part of the written notice given pursuant
to Section 9.c. In such event, the right of the Warrant Holder to
registration pursuant to Section 9.c above shall be conditioned
upon the Warrant Holder’s participation in such underwriting.
The Warrant Holder shall, if it proposes to distribute Registrable
Securities through such underwriting (together with the Company and
other parties distributing securities through such underwriting),
enter into an underwriting agreement in customary form with the
managing underwriter(s) selected by the Company.

 

e. Priority in Piggyback
Registrations. If (i) a registration pursuant to Section 9.c
involves an underwritten offering of the securities so being
registered, whether or not for sale for the account of the Company,
and (ii) the managing underwriters of such underwritten offering
shall advise the Company in writing that, in its opinion, the
number or amount of securities (including Registrable Securities)
proposed to be sold in (or during the time of) such offering would
adversely affect the success of such offering, then the Company
shall include in such registration only such number or amount of
securities (including Registrable Securities) recommended by such
managing underwriter, selected in the following order or priority:
(i) first, all of the securities that the Company proposes to sell
for its own account, if any, and (ii) second, the Registrable
Securities requested to be included in such registration by the
Warrant Holders and the Private Placement Holders pro rata based
upon the number of shares for which registration has been
requested; provided,
however, that if any equity securities are proposed to be
included in such offering for the account of any person or persons
other than the Company, the Warrant Holder or the holders of
Warrants issued and sold pursuant to the Memorandum (the
"Private Placement
Holders") pursuant to rights of piggyback registration
similar to those provided in Section 9.c, all shares proposed to be
included therein by the Company, the Warrant Holder or the Private
Placement Holders shall be included prior to the inclusion of any
other registrable equity securities that have requested to be
included.

 

f. Expenses. With respect to any
registration under this Section 9, the Company shall bear the
following fees, costs and expenses: all registration and filing
fees, printing expenses, fees and disbursements of counsel for the
underwriter of such securities (if the Company or the Warrant
Holder is required to bear such fees and disbursements), all
internal Company expenses, all Company legal and accounting fees
and disbursements and other expenses of complying with state
securities or blue sky laws of any jurisdictions in which the
Registrable Securities to be offered are to be registered or
qualified, and any other Company costs, if any, arising out of such
public offering. Fees and disbursements of counsel for the Warrant
Holder, underwriting discounts and commissions and transfer taxes
relating to the Registrable Securities included in the offering,
and any other expenses not expressly included above, shall be borne
by the Warrant Holder.

 

g. Other
Obligations of the Company.

 

i.

The Company shall
use its best efforts to cause the Registrable Securities registered
under this Section 9 to be registered or qualified for sale under
the securities or “blue sky” laws of such jurisdictions
as the Warrant Holder may reasonably request; provided, however, that the
Company shall not be required to qualify to do business in any
state by reason of this paragraph in which it is not otherwise
required to qualify to do business.

 

ii.

The Company shall
keep effective the registration or qualification contemplated by
this Section 9 and shall from time to time amend or supplement each
applicable registration statement, preliminary prospectus, final
prospectus, application, document and communication for such period
of time as shall be required to permit the Warrant Holder to
complete the offer and sale of the Registrable Securities covered
thereby.

 

iii.

In connection with
a registration pursuant to the provisions of this Section 9, the
Company shall furnish to the Warrant Holder therein such number of
copies of the registration statement and of each amendment and
supplement thereto (in each case, including all exhibits), such
reasonable number of copies of each prospectus contained in such
registration statement and each supplement or amendment thereto
(including each preliminary prospectus), all of which shall conform
to the requirements of the 1933 Act, and the rules and regulations
thereunder, and such other documents, as the Warrant Holder may
reasonably request in order to facilitate the disposition of the
Registrable Securities included in such registration.

 

h. Indemnification.

 

i. 

The Company agrees
to indemnify and hold harmless the Warrant Holder, and its
directors, officers, members, managers and employees and Warrant
Holder’s legal counsel, each person, if any, who controls the
Warrant Holder within the meaning of the 1933 Act or the 1934 Act,
and each and all of them, from and against any and all losses,
claims, damages, liabilities or actions, joint or several
(including any investigation, negotiation, legal and other expenses
incurred in connection with, and any amount paid in settlement of,
any action, suit or proceeding or any claim asserted), to which
they or any of them may become subject under the 1933 Act, or other
federal or state statutory law or regulation, at common law or
otherwise, insofar as such losses, claims, damages, liabilities or
actions arise out of, or are based upon, (i) any untrue statement
or alleged untrue statement of a material fact contained in such
registration statement or prospectus or the omission or alleged
omission to state therein a material fact required to be stated
therein or necessary to make the statements therein, in light of
the circumstances under which they were made, not misleading,
except to the extent any losses, claims, damages, liabilities or
actions arising out of any such statement or omission relating to
any information furnished in writing by or on behalf of the Warrant
Holder to the Company specifically for use in connection with the
preparation of such registration statement, or the omission of any
statement or information as a result of the failure of the Warrant
Holder to provide any such information, and (ii) the breach of any
representation, warranty or covenant of the Company contained in
this Warrant.

 

ii. 

The Warrant Holder
agrees to indemnify and hold harmless each of the Company, and each
of its directors and officers employees and legal counsel, and each
person, if any, who controls the Company, within the meaning of the
1933 Act or the 1934 Act, and each and all of them, from and
against any and all losses, claims, damages, liabilities or
actions, joint or several (including any investigation,
negotiation, legal and other expenses incurred in connection with,
and any amount paid in settlement of, any action, suit or
proceeding or any claim asserted), to which they or any of them may
become subject under the 1933 Act, or other federal or state
statutory law or regulation, at common law or otherwise, insofar as
such losses, claims, damages, liabilities or actions arise out of
or are based upon (i) any statement in such registration statement
or prospectus, in reliance upon and in conformity with information
furnished in writing to the Company by or on behalf of the Warrant
Holder specifically for use in connection with the preparation of
such registration statement and (ii) the breach of any
representation, warranty or covenant of the Warrant Holder
contained in this Warrant. In no event shall the indemnification
and contribution obligations of Warrant Holder exceed the proceeds
that the Warrant Holder has actually received upon the sale,
transfer or other distribution of the shares of Common Stock
received upon the exercise of this Warrant.

 

iii. 

Any party which
proposes to assert the right to be indemnified under this Section
9.h will, promptly after receipt of notice of commencement of any
action, suit or proceeding against such party in respect of which a
claim is to be made against an indemnifying party under this
Section 9.h, notify each such indemnifying party of the
commencement of such action, suit or proceeding, enclosing a copy
of all papers served, but the omission so to notify such
indemnifying party of any such action, suit or proceeding shall not
relieve it from any liability which it may have to any indemnified
party otherwise than under this Section 9.h unless it shall
adversely affect the indemnifying party in any material respect. In
case any such action, suit or proceeding shall be brought against
any indemnified party and it shall notify the indemnifying party of
the commencement thereof, the indemnifying party shall be entitled
to participate in and, to the extent that is shall wish, jointly
with any indemnifying party similarly notified, to assume the
defense thereof, with counsel reasonably satisfactory to such
indemnified party, and after notice from the indemnifying party to
such indemnified party of its election so to assume the defense
thereof the indemnifying party shall not be liable to such
indemnified party for any legal or other expenses, other than
reasonable costs of investigation subsequently incurred by such
indemnified party in connection with the defense thereof. The
indemnified party shall have the right to employ its own counsel in
any such action, but the fees and expenses of such counsel shall be
at the expense of such indemnified party unless:

 

iv. 

the employment of
counsel by such indemnified party has been authorized by the
indemnifying parties;

 

v. 

counsel for the
indemnified party shall have reasonably concluded that there may be
a conflict of interest between the indemnifying parties and the
indemnified party in the conduct of the defense of such action (in
which case the indemnifying parties shall not have the right to
direct the defense of such action on behalf of the indemnified
party); or

 

vi. 

the indemnifying
parties shall not in fact have employed counsel to assume the
defense of such action, in each of which cases the fees and
expenses of counsel shall be at the expense of the indemnifying
parties. An indemnifying party shall not be liable for any
settlement of any action or claims effected without its written
consent.

 

vii. 

If the
indemnification provided for in this Section 9.h is unavailable to
any indemnified party in respect to any losses, claims, damages,
liabilities or expenses referred to therein, then the indemnifying
party, in lieu of indemnifying such indemnified party, will
contribute to the amount paid or payable by such indemnified party,
as a result of such losses, claims, damages, liabilities or
expenses (i) in such proportion as is appropriate to reflect the
relative benefits received by the Company on the one hand, and the
Warrant Holder on the other hand, from the sale, transfer of other
distribution of the shares of Common Stock issuable upon the
exercise of this Warrant, or (ii) if the allocation provided by
clause (i) above is not permitted by applicable law, in such
proportion as is appropriate to reflect not only the relative
benefits referred to in clause (i) above but also the relative
fault of the Company on the one hand, and of the Warrant Holder on
the other hand, in connection with the statements or omissions
which resulted in such losses, claims, damages, liabilities or
expenses as well as any other relevant equitable considerations.
The relative benefits received by the Company on the one hand, and
the Warrant Holder on the other hand, shall be deemed to be in the
same proportion as the total proceeds from the sale, transfer or
other distribution of the shares of Common Stock issuable upon the
exercise of this Warrant (net of sales commissions, but before
deducting expenses) received by the Warrant Holder. The relative
fault of the Company on the one hand, and the Warrant Holder on the
other hand, will be determined with reference to, among other
things, whether the untrue or alleged untrue statement of a
material fact or the omission to state a material fact relates to
information supplied by the Company, and their relative intent,
knowledge, access to information and opportunity to correct or
prevent such statement or omission. The amount payable by a party
as a result of the losses, claims, damages, liabilities or expenses
referred to above will be deemed to include any legal or other fees
or expenses reasonably incurred by such party in connection with
investigating or defending any action or claim.

 

viii. 

The Company and the
Warrant Holder agree that it would not be just and equitable if
contribution pursuant to this Section 9.h were determined by pro
rata allocation or by any other method of allocation which does not
take into account the equitable considerations referred to in the
immediately preceding paragraph. Notwithstanding the provisions of
this Section 9.h, no person guilty of fraudulent misrepresentation
(within the meaning of Section 11(f) of the 1933 Act) shall be
entitled to contribution from any person who was not guilty of such
fraudulent misrepresentation.

 

10.

Miscellaneous.

 

a.           This
Warrant shall be binding on and inure to the benefit of the parties
hereto and their respective successors and permitted assigns. This
Warrant may be amended only in writing and signed by the Company
and the Warrant Holder.

 

b.           Nothing
in this Warrant shall be construed to give to any person or
corporation other than the Company and the Warrant Holder any legal
or equitable right, remedy or cause of action under this Warrant;
this Warrant shall be for the sole and exclusive benefit of the
Company and the Warrant Holder.

 

c.           This
Warrant shall be governed by, construed and enforced in accordance
with the internal laws of the State of Florida without regard to
the principles of conflicts of law thereof. The exclusive
jurisdiction for any legal suit, action or proceeding arising out
of or related to this Warrant shall be the United States District
Court for the Southern District of Florida.

 

d.           The
headings herein are for convenience only, do not constitute a part
of this Warrant and shall not be deemed to limit or affect any of
the provisions hereof.

 

e.           In
case any one or more of the provisions of this Warrant shall be
invalid or unenforceable in any respect, the validity and
enforceability of the remaining terms and provisions of this
Warrant shall not in any way be affected or impaired thereby and
the parties will attempt in good faith to agree upon a valid and
enforceable provision which shall be a commercially reasonably
substitute therefore, and upon so agreeing, shall incorporate such
substitute provision in this Warrant.

 

f.           
The Warrant Holder shall not, by virtue hereof, be entitled to any
voting or other rights of a shareholder of the Company, either at
law or equity, and the rights of the Warrant Holder are limited to
those expressed in this Warrant.

 

IN WITNESS WHEREOF, the Company and the
Warrant Holder have caused this Warrant to be duly executed by the
authorized officer as of the date first above stated.

 

 

BRIGHT
MOUNTAIN MEDIA, INC.

 

By:                                                                 

Name:
W. Kip Speyer

Title:
Chief Executive Officer

 

SPARTAN
CAPITAL SECURITIES, LLC

 

By:                                                                 

Name:
John Lowry

Title:
Chief Executive Officer

 

 

 

FORM OF ELECTION TO
PURCHASE

 

(To be
executed by the registered holder if such holder desires to
exercise the within Warrants)

 

Bright
Mountain Media, Inc.

6400
Congress Avenue, Suite 2050

Boca
Raton, Florida 33487

Attn:
W. Kip Speyer

 

 

The
undersigned hereby (1) irrevocably elects to exercise his or its
rights to purchase ____________ shares of Common Stock covered by
the within Warrants, (2) makes payment in full of the Purchase
Price by enclosure of cash, wire transfer, certified check or bank
check, (3) requests that certificates for such shares of Common
Stock be issued in the name of:

 

Please
print name, address and Social Security or Tax Identification
Number:

________________________________________________

________________________________________________

________________________________________________

________________________________________________

 

and (4)
if said number of shares of Common Stock shall not be all the
shares evidenced by the within Warrants, requests that a new
warrant certificate for the balance of the shares covered by the
within Warrants be registered in the name of, and delivered
to:

 

Please
print name and address:

________________________________________________

________________________________________________

________________________________________________

 

 

 

Dated:
_____________________                                                                                      

_________________________________

WARRANT
HOLDER

 

 

By:
_____________________________

Name:

Title:

 

 

 

NOTICE OF CASHLESS EXERCISE

 

(To be
executed upon exercise of warrant pursuant to Section
5.b

 

The
undersigned, the Holder of the attached Warrant, hereby irrevocably
elects to exchange its Warrant for _______ shares of Warrant Stock
pursuant to the cashless exercise provisions of the within Warrant,
as provided for in Section 5.b of such Warrant, and requests that a
certificate or certificates for such shares of Warrant Stock (and
any warrants or other property issuable upon exercise) be issued in
the name of and delivered to ___________________, whose address is
_________________________________ (social security or taxpayer
identification number _______________) and, if such shares shall
not include all of the shares issuable under such warrant, that a
new warrant of like tenor and date for the balance of the shares
issuable thereunder be delivered to the undersigned.

 

HOLDER:

 

 

 

_______________________________

Signature

 

 

________________________________

Signature, if
jointly held

 

 

_________________________________

Date

 

 

 

 

 

FORM OF ASSIGNMENT

 

FOR
VALUE RECEIVED, 

hereby
sells, assigns and transfers unto

 

Name: 

(Please
typewrite or print in block letters)

 

Social
Security or Taxpayer Identification Number : 

 

the
right to purchase Common Stock of Bright Mountain Media Inc., a
Florida corporation, represented by this Warrant to the extent of
shares as to which such right is exercisable and does hereby
irrevocably constitute and appoint ____________________________,
Attorney, to transfer the same on the books of the Company with
full power of substitution in the premises.

 

DATED:
__________________

 

 

 

 

Signature

 

 

 

 

Signature, if
jointly held

 

 

 

 

Witness:

 

 

 

____________________________EX-4.1

 Exhibit 4.1 

SOHU.COM LIMITED. 
 AND

 THE BANK OF NEW YORK MELLON 

SHAREHOLDERS’ RIGHTS AGREEMENT 

  
 -i- 

							
	 	 	 TABLE OF CONTENTS

(continued)
	  	Page	 
	 1.
	 	Certain Definitions	  	 	1	 
			
	 2.
	 	Appointment of Rights Agent	  	 	7	 
			
	 3.
	 	Issuance of Right Certificates	  	 	8	 
			
	 4.
	 	Form of Right Certificates	  	 	10	 
			
	 5.
	 	Countersignature and Registration	  	 	12	 
			
	 6.
	 	Transfer, Split Up, Combination and Exchange of Right Certificates;	  			
			
		 	Mutilated, Destroyed, Lost or Stolen Right Certificates	  	 	13	 
			
	 7.
	 	Exercise of Rights; Exercise Price; Expiration Date of Rights	  	 	14	 
			
	 8.
	 	Cancellation of Right Certificates	  	 	16	 
			
	 9.
	 	Reservation and Availability of Preferred Shares	  	 	16	 
			
	 10.
	 	Preferred Share Record Date	  	 	18	 
			
	 11.
	 	Adjustment of Number and Kind of Shares or Number of Rights	  	 	18	 
			
	 12.
	 	Certificate of Adjusted Exercise Price or Number of Shares	  	 	26	 
			
	 13.
	 	Consolidation, Merger or Sale or Transfer of Assets	  	 	26	 
			
	 14.
	 	Fractional Rights and Fractional Shares	  	 	29	 
			
	 15.
	 	Rights of Action	  	 	30	 
			
	 16.
	 	Agreement of Right Holders	  	 	31	 
			
	 17.
	 	Right Certificate Holder Not Deemed a Shareholder	  	 	31	 
			
	 18.
	 	Concerning the Rights Agent	  	 	32	 
			
	 19.
	 	Merger or Consolidation or Change of Name of Rights Agent	  	 	33	 
			
	 20.
	 	Duties of Rights Agent	  	 	33	 
			
	 21.
	 	Change of Rights Agent	  	 	37	 
			
	 22.
	 	Issuance of New Right Certificates	  	 	37	 
			
	 23.
	 	Termination	  	 	38	 
			
	 24.
	 	Exchange	  	 	38	 
			
	 25.
	 	Notice of Certain Events	  	 	40	 
			
	 26.
	 	Notices	  	 	41	 
			
	 27.
	 	Supplements and Amendments	  	 	42	 

  
 -i- 

							
	 	 	 TABLE OF CONTENTS

(continued)
	  	Page	 
	 28.
	 	Successors	  	 	42	 
			
	 29.
	 	Determinations and Actions by the Board of Directors	  	 	42	 
			
	 30.
	 	Benefits of this Agreement	  	 	43	 
			
	 31.
	 	Severability	  	 	43	 
			
	 32.
	 	Governing Law	  	 	43	 
			
	 33.
	 	Counterparts	  	 	44	 
			
	 34.
	 	Descriptive Headings	  	 	44	 
			
	 35.
	 	Force Majeure	  	 	44	 
			
	 36.
	 	Miscellaneous	  	 	44	 

  

					
	Exhibit A	 	—	 	Form of Certificate of Designation of Series A Junior Participating Cumulative Preferred Shares
	Exhibit B	 	—	 	Form of Right Certificate
	Exhibit C	 	—	 	Summary of Rights

  
 -ii- 

 SOHU.COM LIMITED 

SHAREHOLDER RIGHTS AGREEMENT 

This Shareholder Rights Agreement (“Agreement”), is made between Sohu.com Limited, a Cayman Islands company (the
“Company”), and The Bank of New York Mellon, a New York banking corporation, as Rights Agent (the “Rights Agent”), as of January 14, 2019. 

W I T N E S S E T H 
 WHEREAS,
the Board of Directors of the Company desires to provide shareholders of the Company with the opportunity to benefit from the long-term prospects and value of the Company; and 

WHEREAS, on January 11, 2019, the Board of Directors of the Company authorized and declared the grant of one Right (as such term is
hereinafter defined) for each outstanding Ordinary Share, $.001 par value per share, of the Company outstanding as of the close of business on January 14, 2019 (the “Record Date”), and contemplates the issuance of one Right for each
Ordinary Share of the Company issued (whether originally issued or sold from the Company’s treasury) between the Record Date and the earlier of the Distribution Date or the Expiration Date (as such terms are hereinafter defined), provided,
however, that Rights may be issued with respect to Ordinary Shares that become outstanding after the Distribution Date and prior to the Expiration Date in accordance with Section 22, each Right initially being the right to purchase one one-thousandth of one Series A Junior Participating Cumulative Preferred Share of the Company having the rights, powers and preferences set forth on Exhibit A hereto, upon the terms and subject to the
conditions hereinafter set forth (the “Rights”); and 
 WHEREAS, the Company desires to appoint the Rights Agent to act as rights
agent hereunder, in accordance with the terms and conditions hereof; 
 WHEREAS, the Company, The Bank of New York Mellon and ADS Holders
(as defined hereinafter) are parties to an Amended and Restated Deposit Agreement dated on or about January 14, 2019, as amended from time to time, (the “Deposit Agreement”), which sets forth the terms and conditions relating to the rights
of the ADS Holders. 
 NOW, THEREFORE, in consideration of the premises and the mutual agreements herein set forth, the parties hereby agree
as follows: 
 1.    Certain Definitions». For purposes of this Agreement, the following terms have the
meanings provided in this Section 1: 
 1.1.    “Acquiring Person” means any Person (as such term is
hereinafter defined) who or which, together with all Affiliates (as such term is hereinafter defined) and Associates (as such term is hereinafter defined) of such Person, is or becomes the Beneficial Owner (as such term is hereinafter defined) of
15% or more of the Ordinary Shares (as such term is hereinafter defined) then outstanding, but shall not include (a) the Company, (b) any Subsidiary (as such term is hereinafter defined) of the Company, (c) any employee benefit plan
or compensation arrangement of the Company or any Subsidiary of the Company, (d) any Person who or which, together with all Affiliates and Associates of such Person, becomes the Beneficial Owner of 15% or more of the then outstanding ordinary
shares as a result of the acquisition of Ordinary Shares directly from the Company, (e) any Grandfathered Shareholder, or (f) any Person serving as a depositary or custodian for securities of the Company trading on the NASDAQ Stock Market,
the New York Stock Exchange, or any other internationally recognized securities exchange of similar standing (the Persons described in clauses (a) through (f) above are referred to herein as “Exempt Persons”). 

 Notwithstanding the foregoing, 

1.1.1.    no Person shall become an “Acquiring Person” solely as the result of an acquisition by the Company of
Ordinary Shares which, by reducing the number of Ordinary Shares outstanding, increases the proportionate number of Ordinary Shares beneficially owned by such Person to 15% or more of the Ordinary Shares then outstanding; provided, however, that if
a Person becomes the Beneficial Owner of 15% or more of the Ordinary Shares then outstanding by reason of share purchases by the Company and, after such share purchases by the Company, becomes the Beneficial Owner of any additional shares (other
than pursuant to a share split, share dividend or similar transaction) of Ordinary Shares and immediately thereafter is the Beneficial Owner of 15% or more of the Ordinary Shares then outstanding, then such Person shall become an “Acquiring
Person”; 
 1.1.2.    a Person shall not be an “Acquiring Person” if the Board of Directors of the
Company determines that a Person who would otherwise be an “Acquiring Person,” as defined pursuant to the foregoing provisions of this Section 1.1, has become such inadvertently (including, without limitation, because (A) such
Person was unaware that it beneficially owned that number of Ordinary Shares that would otherwise cause such Person to be an “Acquiring Person” or (B) such Person was aware of the extent of its Beneficial Ownership of Ordinary Shares
but had no actual knowledge of the consequences of such Beneficial Ownership under this Agreement) and without any intention of obtaining, changing or influencing control of the Company, unless and until such Person has failed to divest as promptly
as practicable (or within such period of time as the Board of Directors determines is reasonable) a sufficient number of Ordinary Shares of the Company so that such Person would no longer be an “Acquiring Person,” as defined pursuant to
the foregoing provisions of this Section 1.1; 
 1.1.3.    no Person shall become an “Acquiring Person”
solely as a result of any unilateral grant of any security by the Company or through the exercise of any options, warrants, rights or similar interests (including restricted share) granted by the Company to its directors, officers and employees; and

 1.1.4.    no Person shall become an “Acquiring Person” solely as the result of the acquisition by such
Person of Beneficial Ownership of Ordinary Shares from an individual who, as of the date of this Agreement, is the Beneficial Owner of 15% or more of the Ordinary Shares then outstanding if such Ordinary Shares are received by such Person upon such
individual’s death pursuant to such individual’s will or pursuant to a charitable trust created by such individual for estate planning purposes. 

  
 -2- 

 With respect to any Person, for all purposes of this Agreement, any calculation of the
number of Ordinary Shares outstanding at any particular time, including for purposes of determining the particular percentage of the outstanding Ordinary Shares of which any such Person is the Beneficial Owner, shall include the number of Ordinary
Shares not outstanding at the time of such calculation that such Person is otherwise deemed to beneficially own for purposes of this Agreement, but the number of Ordinary Shares not outstanding that such Person is otherwise deemed to beneficially
own for purposes of this Agreement shall not be included for the purpose of computing the percentage of the outstanding Ordinary Shares beneficially owned by any other Person (unless such other Person is also deemed to beneficially own for purposes
of this Agreement such Ordinary Shares not outstanding). 
 1.2.    “Adjustment Shares” has the meaning set
forth in Section 11.1.2 hereof. 
 1.3.    “ADSs” means American Depositary Shares, each of which
represents one Ordinary Share, as may be modified or otherwise adjusted from time to time. 
 1.4.    “ADS
Holder(s)” means the holders and owners from time to time of ADSs issued pursuant to the Deposit Agreement. 

1.5.    “Affiliate” and “Associate” have the respective meanings ascribed to such terms in Rule 12b-2 of the General Rules and Regulations under the Exchange Act (as hereinafter defined), as in effect on the date of this Agreement. 

1.6.    A Person shall be deemed the “Beneficial Owner” of, and shall be deemed to “beneficially own,”
any securities: (i) which such Person or any of such Person’s Affiliates or Associates, directly or indirectly, beneficially owns (as determined pursuant to Rule 13d-3 of the Rules under the Exchange
Act, as in effect on the date of this Agreement), or (ii) which such Person or any of such Person’s Affiliates or Associates, directly or indirectly, has: 

1.6.1.    the right to acquire (whether such right is exercisable immediately or only after the passage of time or upon
the satisfaction of any conditions or both) pursuant to any agreement, arrangement or understanding (whether or not in writing) (other than customary agreements with and between underwriters and selling group members with respect to a bona fide
public offering of securities) or upon the exercise of conversion rights, exchange rights, other rights (other than the Rights), warrants or options, ADSs or otherwise; provided, however, that a Person shall not be deemed the “Beneficial
Owner” of, or to “beneficially own,” (1) securities tendered pursuant to a tender or exchange offer made by or on behalf of such Person or any of such Person’s Affiliates or Associates until such tendered securities are accepted
for purchase or exchange; (2) securities issuable upon exercise of the Rights at any time prior to the occurrence of a Triggering Event; (3) securities issuable upon exercise of Rights from and after the occurrence of a Triggering Event,
which Rights were acquired by such first Person or any of such first Person’s Affiliates or Associates prior to the Distribution Date or pursuant to Section 3.1, 11.9 or 22 hereof; or (4) securities which such Person or any of such
Person’s Affiliates or Associates may acquire, does or do acquire or may be deemed to have the right to acquire, pursuant to any merger or other acquisition agreement between the Company and such Person (or one or more of such Person’s
Affiliates or Associates) if such agreement has been approved by the Board of Directors of the Company prior to such Person’s becoming an Acquiring Person; or 

  
 -3- 

 1.6.2.    the right to vote pursuant to any agreement, arrangement or
understanding (whether or not in writing); provided, however, that a Person shall not be deemed the “Beneficial Owner” of, or to “beneficially own,” any security under this Section 1.4.2 if the agreement, arrangement or
understanding to vote such security (1) arises solely from a revocable proxy given in response to a public proxy or consent solicitation made pursuant to, and in accordance with, the Rules under the Exchange Act and (2) is not also then
reportable by such Person on Schedule 13D or 13G under the Exchange Act (or any comparable or successor report), provided, that for purposes of this Section 1.6.2 and notwithstanding Section 4.8 of the Deposit Agreement, an ADS Holder
shall be deemed to have the right to vote an Ordinary Share represented by an ADS, if the ADS Holder has the right to acquire such Ordinary Share upon the due surrender of the ADS evidencing the Ordinary Share to the depositary agent in accordance
with the procedures set forth in the Deposit Agreement; or 
 1.6.3.    the right to dispose of pursuant to any
agreement, arrangement or understanding (whether or not in writing) (other than customary arrangements with and between underwriters and selling group members with respect to a bona fide public offering of securities); or 

1.6.4.    which are beneficially owned, directly or indirectly, by any other Person (or any Affiliate or Associate
thereof) with which such Person or any of such Person’s Affiliates or Associates has any agreement, arrangement or understanding (whether or not in writing) (other than customary agreements with and between underwriters and selling group
members with respect to a bona fide public offering of securities) for the purpose of acquiring, holding, voting (except pursuant to a revocable proxy as described in Section 1.4.2 hereof) or disposing of any securities of the Company;
provided, however, that (a) no Person engaged in business as an underwriter of securities shall be deemed the Beneficial Owner of any securities acquired through such Person’s participation as an underwriter in good faith in a firm
commitment underwriting until the expiration of forty (40) days after the date of such acquisition, (b) no trustee or similar Person, organized, appointed or established by the Company or any Subsidiary of the Company, holding Ordinary
Shares of the Company for or pursuant to the terms of any employee benefit plan or compensation arrangement of the Company or any Subsidiary of the Company shall be deemed the Beneficial Owner of any securities acquired or held by such Person in
such capacity, and (c) no Person shall be deemed the Beneficial Owner of any securities acquired or received from the Company by such Person pursuant to an employee benefit plan or compensation arrangement of the Company or any Subsidiary of
the Company; or 
 1.6.5.    which is an Ordinary Share represented by an ADS, if such Person has the right to acquire
such Ordinary Share upon the due surrender of the ADS evidencing the Ordinary Share to the depositary agent in accordance with the procedures set forth in the Deposit Agreement; 

provided, however, that no Person who is an officer, director or employee of an Exempt Person shall be deemed, solely by reason of such Person’s
status or authority as such, to be the “Beneficial Owner” of, to have “Beneficial Ownership” of or to “beneficially own” any securities that are “beneficially owned,” including, without limitation, in a
fiduciary capacity, by an Exempt Person or by any other such officer, director or employee of an Exempt Person. 

  
 -4- 

 1.7.    “Book Entry” shall mean an uncertificated book entry
for the Ordinary Shares. 
 1.8.    “Business Day” means any day other than a Saturday, Sunday, or a day on
which banking institutions in the State of New York are authorized or obligated by law or executive order to close. 

1.9.    “Certificate of Designation” means the Certificate of Designation attached hereto as Exhibit A.

 1.10.    “Close of Business” on any given date means 5:00 P.M., New York, New York time, on such date;
provided, however, that if such date is not a Business Day “Close of Business” will mean 5:00 P.M., New York, New York time, on the next succeeding Business Day. 

1.11.    “Current Value” has the meaning set forth in Section 11.1.3 hereof. 

1.12.    “Deposit Agreement” shall have the meaning set forth in the preamble. 

1.13.    “Depositary” means The Bank of New York Mellon or its successors or permitted assigns, in its capacity
as depositary pursuant to the Deposit Agreement. 
 1.14.    “Distribution Date” has the meaning set forth in
Section 3.1 hereof. 
 1.15.    “Exchange Act” means the Securities Exchange Act of 1934, as amended, or
any successor statute. 
 1.16.    “Exercise Price” has the meaning set forth in Section 4.1 hereof. 

1.17.    “Expiration Date” and “Final Expiration Date” have the meanings set forth in Section 7.1
hereof. 
 1.18.    “Fair Market Value” of any securities or other property shall be as determined in
accordance with Section 11.4 hereof. 
 1.19.    “Grandfathered Shareholder” means any Person who was a
Beneficial Owner of Ordinary Shares as of the date of this Agreement unless, at any time after the date of this Agreement, such Person becomes the Beneficial Owner of additional Ordinary Shares and immediately after becoming the Beneficial Owner of
such additional Ordinary Shares, such Person is the Beneficial Owner of a number of Ordinary Shares which represents more than 50% more Ordinary Shares than the number of Ordinary Shares of which the Person is the Beneficial Owner as of the date of
this Agreement and such Person becomes the Beneficial Owner of such additional Ordinary Shares without the prior written approval of the Board of Directors of the Company. 

1.20.    “Group” has the meaning ascribed thereto in clause (b) of the definition of “Person.”

  
 -5- 

 1.21.    “Ordinary Shares” when used in reference to the
Company means the ordinary shares, $.001 par value per share, of the Company or any other shares in the share capital of the Company into which such shares are reclassified or changed. “Ordinary Shares” when used with reference to any
Person (other than the Company) organized in corporate form means (i) the shares or other equity interest of such Person with the greatest voting power or (ii) the equity securities or other equity interest having power to control or
direct the management of such Person or, if such Person is a Subsidiary of another Person, the Person or Persons which ultimately control such first-mentioned Person and which have issued any such outstanding shares, equity securities or equity
interests. “Ordinary Shares” when used with reference to any Person not organized in corporate form means units of equity interest which are entitled to exercise the greatest voting power of such Person or, in the case of a limited
partnership, have the power to remove or otherwise replace the general partner or partners. 

1.22.    “Person” means (a) an individual, a corporation, a partnership, a limited liability company, a
limited liability partnership, an association, a joint venture, a joint share company, a trust, a business trust, a government or political subdivision, any unincorporated organization, or any other association or entity and any successor of any
such entity, and (b) a “group” as that term is used for purposes of Section 13(d)(3) of the Exchange Act (any such group under this clause (b), a “Group”). 

1.23.    “Preferred Shares” means shares of Series A Junior Participating Cumulative Preferred Shares, $.001 par
value per share, of the Company having the rights, preferences and limitations set forth in the Certificate. 

1.24.    “Preferred Share Equivalents” has the meaning set forth in Section 11.2 hereof. 

1.25.    “Principal Party” has the meaning set forth in Section 13.2 hereof. 

1.26.    “Receipts” means the American Depositary Receipts issued under the Deposit Agreement evidencing
certificated ADSs. 
 1.27.    “Record Date” has the meaning set forth in the preamble to this Agreement. 

1.28.    “Registered Holder” means, in relation to shares, the Person entered in the register of members of the
Company maintained pursuant to the Cayman Islands Companies Law (2018 Revision) as amended, or any successor statute or law.” 

1.29.    “Right Certificate” has the meaning set forth in Section 3.1. 

1.30.    “Rules” when used with reference to the Exchange Act or the Securities Act, means the rules and
regulations of the Securities and Exchange Commission, or any successor federal agency under such acts. 

1.31.    “Section 11.1.2 Event” has the meaning set forth in Section 11.1.2 hereof. 

1.32.    “Section 11.1.2 Trigger Date” has the meaning set forth in Section 11.1.3 hereof. 

1.33.    “Section 13 Event” means any event described in clauses (a), (b) or (c) of Section 13.1
hereof. 

  
 -6- 

 1.34.    “Section 24.1 Exchange Ratio” has the meaning
set forth in Section 24.1 hereof. 
 1.35.    “Securities Act” means the Securities Act of 1933, as
amended, or any successor statute. 
 1.36.    “Share Acquisition Date” means the date of the first public
announcement (which for purposes of this definition shall include, without limitation, the issuance of a press release or the filing of a publicly-available report or other document with the Securities and Exchange Commission or any other
governmental agency) by the Company or an Acquiring Person that an Acquiring Person has become such or such earlier date as a majority of the Board of Directors of the Company has become aware of the existence of an Acquiring Person. 

1.37.    “Spread” has the meaning set forth in Section 11.1.3 hereof. 

1.38.    “Subsidiary” means, with reference to any Person, any corporation or other entity of which securities
or other ownership interests having ordinary voting power sufficient, in the absence of contingencies, to elect a majority of the board of directors or other Persons performing similar functions of such corporation or other entity are at the time
directly or indirectly beneficially owned or otherwise controlled by such Person either alone or together with one or more Affiliates of such Person, and any corporation or other entity that is otherwise controlled by such Person. 

1.39.    “Substitution Period” has the meaning set forth in Section 11.1.3 hereof. 

1.40.    “Triggering Event” means any Section 11.1.2 Event or any Section 13 Event. 

1.41.    “Trust” has the meaning set forth in Section 24.1 hereof. 

1.42.    “Trust Agreement” has the meaning set forth in Section 24.1 hereof. 

 

	 	2.	 Appointment of Rights Agent 

2.1    The Company hereby appoints the Rights Agent to act as agent for the Company and the holders of the Rights in
accordance with the express terms and conditions hereof, and the Rights Agent hereby accepts such appointment. The Company may from time to time appoint such Co-Rights Agents as it may deem necessary or
desirable. In the event the Company appoints one or more Co-Rights Agents, the respective duties of the Rights Agent and any Co-Rights Agents shall be as the Company
shall determine (the term “Rights Agent” being used herein to refer, collectively, to the Rights Agent together with any such co-Rights Agents), provided that such duties and determination are
consistent with the terms and provisions of this Agreement. The Company shall give thirty (30) days prior written notice to the Rights Agent of the appointment of one or more Co-Rights Agents and the
respective duties of the Rights Agent and any such Co-Rights Agents. The Rights Agent shall have no duty to supervise, and shall in no event be liable for, the acts or omissions of any such Co-Rights Agent. 

  
 -7- 

 2.2    The Company shall provide and shall cause its officers, advisors,
and agents, including without limitation, its transfer agent and registrar, and any other service provider to cooperate with the Rights Agent and to provide the Rights Agent, upon request, with such information, documents and advice relating to the
registered holders of Ordinary Shares as is within the possession or knowledge of such persons, and which in the opinion of the Rights Agent, is necessary in order to enable it to perform its duties hereunder. The Rights Agent shall not be
responsible for, under any duty to inquire into, or be deemed to make any assurances with respect to the accuracy, validity or propriety of any information, documents or advice provided to the Rights Agent by any of the aforementioned persons. The
Rights Agent shall not be liable for any loss, damage or expense resulting from or arising out of the failure of the Company to cause any information, documents or advice to be provided to the Rights Agent as provided herein and shall be held
harmless by the Company when acting in reliance upon such information, documents or advice. All fees or costs charged by such persons shall be borne by the Company. 
  

	 	3.	 Issuance of Right Certificates 

3.1    From the date hereof until the earlier of (a) the Close of Business on the tenth Business Day after the Share
Acquisition Date or (b) the Close of Business on the tenth Business Day (or such other calendar day, if any, as the Board of Directors may determine in its sole discretion) after the date a tender or exchange offer by any Person, other than an
Exempt Person, is first published or sent or given within the meaning of Rule 14d-4(a) of the Exchange Act, or any successor rule, if, upon consummation thereof, such Person would be the Beneficial Owner of
15% or more of the Ordinary Shares then outstanding (including any such date which is after the date of this Agreement and prior to the issuance of the Rights) (the earlier of such dates being herein referred to as the “Distribution
Date”), (i) the Rights will be evidenced (subject to the provisions of Section 3.2 hereof) by the certificates for the Ordinary Shares of the Company registered in the names of the holders of the Ordinary Shares of the Company and/or by
Book Entry shares in respect of such Ordinary Shares) and not by separate certificates, and (ii) the Rights will be transferable only in connection with the transfer of the underlying Ordinary Shares of the Company. The Company shall give the
Rights Agent prompt written notice of the Distribution Date. Promptly after the Distribution Date, upon (i) receipt of written notice of the Distribution Date by the Rights Agent from the Company, and (ii) being provided by the Company
with a shareholder list and all necessary or relevant information, the Rights Agent will, at the Company’s expense, send, by first-class, insured, postage prepaid mail, to each Registered Holder of the Ordinary Shares of the Company as of the
Close of Business on the Distribution Date (other than any Acquiring Person or any Associate or Affiliate of any Acquiring Person), at the address of such holder shown in the register of members of the Company or the transfer agent or the registrar
for Ordinary Shares, one or more certificates, in substantially the form of Exhibit B hereto (the “Right Certificates”), evidencing one Right for each Ordinary Share of the Company so held, subject to adjustment as provided herein. In the
event that an adjustment in the number of Rights per Ordinary Share of the Company has been made pursuant to Section 11.15 hereof, the Company may make the necessary and appropriate rounding adjustments (in accordance with Section 14.1
hereof) at the time of distribution of the Right Certificates, so that Right Certificates representing only whole numbers of Rights are distributed and cash is paid in lieu of any fractional Rights. As of and after the Close of Business on the
Distribution Date, the Rights will be evidenced solely by such Right Certificates. The Company shall promptly notify the Rights Agent in writing upon the occurrence of the Distribution Date. 

  
 -8- 

 3.2    On the Record Date, or as soon as practicable thereafter, the
Company will send a copy of a Summary of Rights to Purchase Preferred Shares, in substantially the form of Exhibit C hereto (the “Summary of Rights”), by express courier or first-class, postage-prepaid mail, to each Registered Holder of
Ordinary Shares as of the Close of Business on the Record Date (other than any Acquiring Person or any Associate or Affiliate of any Acquiring Person), at the address of such holder shown in the register of members of the Company. With respect to
certificates for the Ordinary Shares of the Company (or any Book Entry Ordinary Shares) issued prior to the Close of Business on the Record Date, the Rights will be evidenced by such certificates for the Ordinary Shares of the Company (or any Book
Entry Ordinary Shares) together with the Summary of Rights on or until the Distribution Date (or the earlier expiration or termination of the Rights), and the Registered Holders of the Ordinary Shares of the Company also shall be the Registered
Holders of the associated Rights. Until the Distribution Date (or the earlier expiration or termination of the Rights), the transfer of any of the certificates for the Ordinary Shares of the Company (or any Book Entry Ordinary Shares) outstanding
prior to the date of this Agreement shall also constitute the transfer of the Rights associated with the Ordinary Shares of the Company (or any Book Entry Ordinary Shares) represented by such certificate. 

3.3    Rights shall, without any further action, be granted in respect of all Ordinary Shares issued or disposed of by the
Company after the Record Date but prior to the earlier of the Distribution Date and the Expiration Date, or in certain circumstances provided in Section 22 hereof, after the Distribution Date. Certificates for the Ordinary Shares of the Company
issued after the Record Date, but prior to the earlier of the Distribution Date or the expiration or termination of the Rights, shall be deemed also to be certificates for Rights, and shall bear a legend, substantially in the form set forth below:

 “This certificate evidences and entitles the holder hereof to Rights set forth in a Shareholders’ Rights Agreement between the
Company and The Bank of New York Mellon as Rights Agent (the “Rights Agent”), dated as of January 14, 2019, as it may be amended from time to time (the “Rights Agreement”), the terms of which are incorporated herein by reference
and a copy of which is on file at the principal offices of the Company. The Company will mail to the Registered Holder of this certificate a copy of the Rights Agreement without charge upon written request. Under certain circumstances set forth in
the Rights Agreement, such Rights will be evidenced by separate certificates and will no longer be evidenced by this certificate. Under certain circumstances set forth in the Rights Agreement, Rights issued to, or held by any Person who is, was or
becomes, or acquires shares from, an Acquiring Person or any Affiliate of an Acquiring Person (as each such term is defined in the Rights Agreement, and generally relating to the ownership or purchase of large shareholdings), whether currently held
by or on behalf of such Person or Affiliate or by certain subsequent holders, may become null and void.” 

  
 -9- 

 With respect to any Book Entry Ordinary Shares, such legend shall be included in a notice to
the Registered Holder of such shares in accordance with applicable law. With respect to such certificates containing the foregoing legend, or notice of the foregoing legend delivered to holders of Book Entry shares, the Rights associated with the
Ordinary Shares of the Company represented by such certificates or Book Entry Shares shall be evidenced by such certificates or Book Entry Shares alone until the Distribution Date (or the earlier expiration or termination of the Rights), and the
transfer of any of such certificates shall also constitute the transfer of the Rights associated with the Ordinary Shares of the Company represented by such certificates or Book Entry Shares. In the event that the Company purchases or otherwise
acquires any Ordinary Shares of the Company after the Record Date but prior to the Distribution Date, any Rights associated with such Ordinary Shares of the Company shall be deemed cancelled and retired so that the Company shall not be entitled to
exercise any Rights associated with the Ordinary Shares of the Company which are no longer outstanding. The failure to print the foregoing legend on any such certificate representing Ordinary Shares of the Company or any defect therein shall not
affect in any manner whatsoever the application, enforceability or interpretation of the provisions of any part of this Agreement. 

3.4    Receipts representing such Ordinary Shares shall bear a legend, substantially in the form set forth below: 

“The Company has adopted a shareholder rights plan pursuant to a Shareholders’ Rights Agreement made and entered into
as of January 14, 2019, as amended from time to time (the “Rights Agreement”), by and between the Company and The Bank of New York Mellon, as Rights Agent (the “Rights Agent”). Pursuant to the terms of the Rights Agreement, each
holder of the Company’s Shares will be entitled to certain rights (the “Rights”). The Rights Agreement, the terms of which are hereby incorporated herein by reference, provides that the Rights, when exercisable, will entitle the
holder to purchase from the Company one one-thousandth of a share of Series A Junior Participating Cumulative Preferred Shares, par value $0.001 per share, of the Company (the “Preferred Shares”) at
a price of $200 per one one-thousandth of a Preferred Share (the “Exercise Price”), subject to adjustment, upon presentation and surrender to the Rights Agent of a Right Certificate (as defined in
the Rights Agreement) and such other and further documentation as required by the Rights Agreement. Under certain circumstances set forth in the Rights Agreement, Rights issued to, or held by any Person who is, was or becomes, or acquires shares
from, an Acquiring Person or any Affiliate of an Acquiring Person (as each such term is defined in the Rights Agreement, and generally relating to the ownership or purchase of large shareholdings), whether currently held by or on behalf of such
Person or Affiliate or by certain subsequent holders, may become null and void.” 
 If the Depositary issues Receipts in uncertificated
form, then the legend required by Section 3.4, shall be contained in a written statement furnished by the Company to each ADS Holder, as applicable, pursuant to applicable law and the provisions of the Deposit Agreement. 

 

	 	4.	 Form of Right Certificates 

4.1    The Right Certificates (and the forms of election to purchase shares and of assignment and certificate to be printed
on the reverse thereof) shall each be substantially in the form of Exhibit B hereto and may have such marks of identification or designation and such legends, summaries or endorsements printed thereon as the Company may deem appropriate (but
which do not affect the rights, duties, liabilities or responsibilities of the Rights Agent) and as are not inconsistent with the provisions of this Agreement, or as may be required to comply with any applicable law, rule or regulation or with any
rule or regulation of any share exchange on which the Rights may from time to time be listed, or to conform to customary usage. The Right Certificates shall be in a form reasonably satisfactory to the Rights Agent. Subject to the provisions of
Section 11 and Section 22 hereof, the Right Certificates, whenever distributed, shall entitle the holders thereof to purchase such number of one one-thousandths of a Preferred Share as is set forth
therein at the price set forth therein (the “Exercise Price”), but the number of such shares, or fractions thereof, or the Exercise Price shall be subject to adjustment as provided herein. 

  
 -10- 

 4.2    Any Right Certificate issued pursuant to Section 3.1 or
Section 22 hereof that represents Rights beneficially owned by (a) an Acquiring Person or any Associate or Affiliate of an Acquiring Person, (b) a transferee of an Acquiring Person (or of any Associate or Affiliate of an Acquiring
Person) who becomes a transferee after the Acquiring Person becomes such, or (c) a transferee of an Acquiring Person (or of any such Associate or Affiliate) who becomes a transferee prior to or concurrently with the Acquiring Person becoming
such and receives such Rights pursuant to either (i) a transfer (whether or not for consideration) from the Acquiring Person to holders of equity interests in such Acquiring Person or to any Person with whom the Acquiring Person has any
continuing agreement, arrangement or understanding (whether or not in writing) regarding the transferred Rights, the Ordinary Shares of the Company associated with such Rights or the Company or (ii) a transfer which the Board of Directors of
the Company has determined is part of a plan, arrangement or understanding which has as a primary purpose or effect the avoidance of Section 7.5 hereof, and subsequent transferees, either direct transferees or transferees through one or more
intermediate transferees, of such Persons, and any Right Certificate issued pursuant to Section 6, Section 11 or Section 22 upon transfer, exchange, replacement or adjustment of any other Right Certificate referred to in this
sentence, shall have deleted therefrom the second sentence of the existing legend on such Right Certificate and in substitution therefor shall contain substantially the following legend: 

“The Rights represented by this Right Certificate are or were beneficially owned by a Person who was or became an Acquiring Person or an
Affiliate or an Associate of an Acquiring Person (as such terms are defined in the Rights Agreement). This Right Certificate and the Rights represented hereby may become null and void under certain circumstances as specified in Section 7.5 of
the Rights Agreement.” 
 The Company shall give written notice to the Rights Agent promptly after it becomes aware of the existence
and identity of any Acquiring Person or any Associate or Affiliate thereof. The Company shall instruct the Rights Agent in writing of the Rights which should be so legended and shall supply the Rights Agent with such legended Right Certificates. The
Rights Agent shall be conclusively deemed to have no knowledge thereof or duties with respect thereto until it receives such written notice. The failure to print the foregoing legend on any such Right Certificate or any defect therein shall not
affect in any manner whatsoever the application, enforceability or interpretation of the provisions of any part of this Agreement. 

  
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	 	5.	 Countersignature and Registration 

5.1    The Right Certificates shall be executed on behalf of the Company by any two duly authorized officers, either
manually or by facsimile signature, and shall have affixed thereto the Company’s seal or a facsimile thereof which shall be attested to by the Secretary or any Assistant Secretary of the Company, either manually or by facsimile signature. The
Right Certificates shall be countersigned by an authorized signatory of the Rights Agent either manually or by facsimile signature and shall not be valid for any purpose unless so countersigned, and such countersignature upon any Right Certificate
shall be conclusive evidence, and the only evidence, that such Right Certificate has been duly countersigned as required hereunder. In case any officer of the Company who has signed any of the Right Certificates ceases to be such officer of the
Company before countersignature by the Rights Agent and issuance and delivery of the Right Certificate by the Company, such Right Certificates, nevertheless, may be countersigned by an authorized signatory of the Rights Agent, and issued and
delivered by the Company with the same force and effect as though the Person who signed such Right Certificates had not ceased to be such officer of the Company; and any Right Certificates may be signed on behalf of the Company by any Person who, at
the actual date of the execution of such Right Certificate, is a proper officer of the Company to sign such Right Certificate, although at the date of the execution of this Rights Agreement any such Person was not such an officer. 

In case any authorized signatory of the Rights Agent who has countersigned any of the Right Certificates ceases to be so authorized before
delivery by the Company, such Right Certificates, nevertheless, may be issued and delivered by the Company with the same force and effect as though the person who countersigned such Right Certificates had not ceased to be so authorized; and any
Right Certificates may be countersigned on behalf of the Rights Agent by any person who, at the actual date of the countersignature of such Right Certificate, is properly authorized to countersign such Right Certificate, although at the date of the
execution of this Rights Agreement any such person was not so authorized. 
 5.2    Following the Distribution Date,
receipt by the Rights Agent of notice to that effect and all other relevant information and documents, the Rights Agent will keep or cause to be kept, at one of its offices designated for such purpose, books for registration and transfer of the
Right Certificates issued hereunder. Such books shall show the names and addresses of the respective holders of the Right Certificates, the number of Rights evidenced on its face by each of the Right Certificates and the date of each of the Right
Certificates. 

  
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	 	6.	 Transfer, Split Up, Combination and Exchange of Right Certificates; Mutilated, Destroyed, Lost or Stolen
Right Certificates 

 6.1    Subject to the provisions of Section 4.2, Section 7.5
and Section 14 hereof, at any time after the Close of Business on the Distribution Date, and at or prior to the Close of Business on the Expiration Date, any Right Certificate or Certificates (other than Right Certificates representing Rights
that have become null and void or that have been exchanged) may be transferred, split up, combined or exchanged for one or more other Right Certificates, entitling the Registered Holder to purchase a like number of one
one-thousandths of a Preferred Share (or following a Triggering Event, preferred shares, cash, property, debt securities, Ordinary Shares of the Company or any combination thereof) as the Right Certificate or
Right Certificates surrendered then entitled such holder to purchase and at the same Exercise Price. Any Registered Holder desiring to transfer, split up, combine or exchange any Right Certificate or Right Certificates shall make such request in
writing delivered to the Rights Agent, and shall surrender the Right Certificate or Right Certificates to be transferred, split up, combined or exchanged, with the form of assignment and certificate properly completed and duly executed by the
Registered Holder thereof, at the office of the Rights Agent designated for such purpose, with such signature duly guaranteed and such other and further documentation as the Rights Agent or the Company may require. The Right Certificates are only
transferable on the registry books of the Rights Agent. Neither the Rights Agent nor the Company shall be obligated to take any action whatsoever with respect to the transfer of any such surrendered Right Certificate until the Registered Holder has
(i) properly completed and duly executed the certificate contained in the form of assignment on the reverse side of such Right Certificate and has provided such additional evidence of the identity of the Beneficial Owner (or former Beneficial
Owner) or Affiliates or Associates from whom the Rights evidenced by such Right Certificate are to be transferred (or the Beneficial Owner to whom such Rights are to be transferred) as the Company or Rights Agent shall reasonably request,
(ii) and paid a sum sufficient to cover any transfer tax or other tax or governmental charge that may be imposed in connection with any transfer, split up combination or exchange of Rights Certificates. Thereupon, subject to Section 4.2,
Section 7.5 and Section 14 hereof, the Company shall execute and the Rights Agent shall countersign and deliver to the Person entitled thereto a Right Certificate or Right Certificates, as the case may be, as so requested, registered by
such name or names as may be designated by the surrendering Registered Holder. The Rights Agent shall forward any such sum collected by it to the Company or to such Persons as the Company shall specify by written notice. The Rights Agent shall have
no duty or obligation under any Section of this Agreement that requires the payment of taxes or governmental charges unless and until it is satisfied that all such taxes or governmental charges have been paid in full. 

6.2    Subject to the provisions of this Agreement, at any time after the Distribution Date and prior to the Close of
Business on the earlier of the Expiration Date and the Final Expiration Date, upon receipt by the Company and the Rights Agent of evidence reasonably satisfactory to them of the loss, theft, destruction or mutilation of a Right Certificate, and, in
case of loss, theft or destruction, of indemnity or security reasonably satisfactory to them, and reimbursement to the Company and the Rights Agent of all reasonable expenses incidental thereto, and upon surrender to the Rights Agent and
cancellation of the Right Certificate, if mutilated, accompanied by a signature guarantee and such other and further documentation as the Rights Agent may require, the Company shall cause a new Right Certificate of like tenor to be issued and
delivered to the registered owner in lieu of the Right Certificate so lost, stolen, destroyed or mutilated.Notwithstanding any other provision hereof, the Company and the Rights Agent may amend this Agreement to provide for uncertificated Rights in
addition to or in place of Rights evidenced by Right Certificates, to the extent permitted by applicable law. 

  
 -13- 

	 	7.	 Exercise of Rights; Exercise Price; Expiration Date of Rights 

7.1    Subject to Section 7.5 hereof, the Registered Holder of any Right Certificate may exercise the Rights evidenced
thereby (except as otherwise provided herein) in whole or in part at any time commencing with the Distribution Date upon surrender of the Right Certificate, with the form of election to purchase and the certificate on the reverse side thereof
properly completed and duly executed, to the Rights Agent at the office or offices of the Rights Agent designated for such purpose, accompanied by a signature guarantee and such other documentation as the Rights Agent may require, together with full
payment of the aggregate Exercise Price for the total number of one one-thousandths of a Preferred Share (or other securities, cash or other assets, as the case may be) as to which such surrendered Rights are
then exercised, at or prior to the earlier of (a) the Close of Business on the tenth anniversary of the date of this Agreement (the “Final Expiration Date”), (b) the time at which the Rights are terminated as provided in
Section 23 hereof, (c) the closing of any merger or other acquisition transaction involving the Company pursuant to an agreement of the type described in Sections 1.4.1(4) and 13.6 at which time the Rights are terminated, or (d) the
time at which such Rights are exchanged as provided in Section 24 hereof (the earliest of (a), (b), (c) or (d) being herein referred to as the “Expiration Date”). Except as set forth in Section 7.5 hereof and notwithstanding
any other provision of this Agreement, any Person who prior to the Distribution Date becomes a Registered Holder of Ordinary Shares of the Company may exercise all of the rights of a Registered Holder of a Right Certificate with respect to the
Rights associated with such Ordinary Shares of the Company in accordance with the provisions of this Agreement, as of the date such Person becomes a Registered Holder of Ordinary Shares of the Company. 

7.2    The Exercise Price for each one one-thousandth of a Preferred Share
pursuant to the exercise of a Right shall initially be Two Hundred United States Dollars US$200, shall be subject to adjustment from time to time as provided in Section 11 and Section 13 hereof and shall be payable in lawful money of the
United States of America in accordance with Section 7.3 below. 
 7.3    Either prior to or as promptly as
practicable following the Distribution Date, the Company shall deposit with a corporation, trust, bank or similar institution in good standing organized under the laws of the United States or any State of the United States, which is authorized under
such laws to exercise corporate trust or share transfer powers and is subject to supervision or examination by a federal or state authority (such institution is hereinafter referred to as the “Depositary Agent”), certificates representing
the Preferred Shares that may be acquired upon exercise of the Rights and the Company shall enter into an agreement with such Depositary Agent pursuant to which the Depositary Agent shall issue depositary receipts representing interests in the
Preferred Shares so deposited and take the steps required pursuant to Section 9.3 regarding the registration of the securities purchasable upon the exercise of such Rights. Except as otherwise provided herein, upon receipt of a Right
Certificate representing exercisable Rights, with the form of election to purchase and the certificate on the reverse side thereof properly completed and duly executed, accompanied by a signature guarantee and such other documentation as the Rights
Agent may require together with payment of the full Exercise Price for the Preferred Shares (or other securities, cash or other assets, as the case may be) to be purchased and an amount equal to any applicable transfer tax or governmental charge (as
determined by the Rights Agent) in cash, or by certified check or bank draft payable to the order of the Company, the Rights Agent shall, subject to Section 20.11 hereof, thereupon promptly (a) requisition from the Depositary Agent (or
make available, if the Rights Agent is the Depository Agent) depository receipts or certificates representing the number of one one-thousandths of a Preferred Share to be purchased and the Company irrevocably
agrees to cause the Depositary Agent and any such transfer agent to deliver such depository receipts or certificates to the Rights Agent, (b) when necessary to comply with this Agreement, requisition from the Company the amount of cash, if any,
to be paid in lieu of issuance of fractional shares in accordance with Section 14 hereof, (c) promptly after receipt of such certificates or, if applicable, depositary receipts, cause the same to be delivered to or upon the order of the
Registered Holder of such Right Certificate, registered in such name or names as may be designated by such holder and (d) when appropriate, after receipt promptly deliver such cash to or upon the order of the Registered Holder of such Right
Certificate. In the event that the Company is obligated to issue other securities (including Ordinary Shares) of the Company, pay cash or distribute other property pursuant to Section 11.1 hereof, the Company will make all arrangements
necessary so that such securities, cash, or other property is available for distribution by the Rights Agent, if and when necessary to comply with this Agreement. The payment of the Exercise Price may be made in cash or by certified or bank check
payable to the order of the Company, or by wire transfer of immediately available funds to the account of the Company (provided that notice of such wire transfer shall be given by the holder of the related Right to the Rights Agent). The Rights
Agent shall be entitled to rely, and shall be protected in relying, on a certificate duly executed by an officer of the Company to the effect that the Distribution Date has occurred. 

  
 -14- 

 7.4    In case the Registered Holder of any Right Certificate exercises
less than all the Rights evidenced thereby, a new Right Certificate evidencing Rights equivalent to the Rights remaining unexercised shall be issued and delivered by the Company to the Rights Agent and countersigned and delivered by the Rights Agent
to the Registered Holder of such Right Certificate or to his duly authorized assigns, subject to the provisions of Section 14 hereof. 

7.5    Notwithstanding any provision or language of this Agreement that might be construed to suggest the contrary, from
and after the first occurrence of a Section 11.1.2 Event or Section 13 Event, any Rights beneficially owned by (a) an Acquiring Person or any Associate or Affiliate of an Acquiring Person, (b) a transferee of an Acquiring Person
(or of any Associate or Affiliate of an Acquiring Person) who becomes a transferee after the Acquiring Person becomes such or (c) a transferee of an Acquiring Person (or of any Associate or Affiliate of an Acquiring Person) who becomes a
transferee prior to or concurrently with the Acquiring Person becoming such and receives such Rights pursuant to either (i) a transfer (whether or not for consideration) from the Acquiring Person to holders of equity interests in such Acquiring
Person or to any Person with whom the Acquiring Person has any continuing agreement, arrangement or understanding regarding the transferred Rights, the Ordinary Shares of the Company associated with such Rights or the Company, or (ii) a
transfer which the Board of Directors of the Company has determined is part of a plan, arrangement or understanding which has as a primary purpose or effect the avoidance of this Section 7.5, and subsequent transferees, either direct
transferees or transferees through one or more intermediate transferees, of such Persons, shall be null and void without any further action and no holder of such Rights shall have any rights whatsoever with respect to such Rights, whether under any
provision of this Agreement or otherwise. The Company shall use all reasonable efforts to ensure that the provisions of this Section 7.5 and Section 4.2 hereof are complied with, but neither it nor the Rights Agent shall have any liability
to any holder of Right Certificates or other Person as a result of its failure to make any determination with respect to an Acquiring Person or any Affiliates or Associates of an Acquiring Person or any transferee of any of them hereunder. 

7.6    Notwithstanding any provision or language of this Agreement that might be construed to suggest the contrary,
neither the Rights Agent nor the Company shall be obligated to undertake any action with respect to a Registered Holder of Rights upon the occurrence of any purported exercise as set forth in this Section 7 unless such Registered Holder has
(a) properly completed and duly signed the certificate contained in the form of election to purchase set forth on the reverse side of the Right Certificate surrendered for such exercise and (b) provided such additional evidence of the
identity of the Beneficial Owner (or former Beneficial Owner) or Affiliates or Associates thereof and such other information as the Company or the Rights Agent shall reasonably request. 

  
 -15- 

 7.7    Any funds that the Rights Agent receives in respect of payments
for Preferred Shares resulting from the exercise of Rights shall be deposited in a non-interest bearing account at the Rights Agent that the Rights Agent designates solely for such purpose. Such funds shall
remain in the Deposit Account until they are distributed to the Company in accordance with this Agreement. 
  

	 	8.	 Cancellation of Right Certificates 

All Right Certificates surrendered for the purpose of and accepted for exercise, transfer, split up, combination or exchange shall, if
surrendered to the Company or any of its agents (other than the Rights Agent), be delivered to the Rights Agent for cancellation or in cancelled form, or, if surrendered to the Rights Agent, shall be cancelled by it, and no Right Certificates shall
be issued in lieu thereof except as expressly permitted by any of the provisions of this Agreement. The Company shall deliver to the Rights Agent for cancellation and retirement, and the Rights Agent shall so cancel and retire, any other Right
Certificate purchased or acquired by the Company otherwise than upon the exercise thereof. The Rights Agent shall deliver all cancelled Right Certificates to the Company, or shall, at the written request of the Company, destroy such canceled Right
Certificates, and in such case shall deliver a certificate of destruction thereof to the Company. 
  

	 	9.	 Reservation and Availability of Preferred Shares 

9.1    The Company covenants and agrees that it will cause to be reserved and kept available out of its authorized and
unissued Preferred Shares or any Preferred Shares held in its treasury, the number of Preferred Shares that will be sufficient to permit the exercise in full of all outstanding and exercisable Rights. Upon the occurrence of any events resulting in
an increase in the aggregate number of Preferred Shares issuable upon exercise of all outstanding Rights in excess of the number then reserved, the Company shall make appropriate increases in the number of shares so reserved. 

9.2    So long as the Preferred Shares issuable upon the exercise of Rights may be listed or admitted to trading on any
national securities exchange, the Company shall use its best efforts to cause, from and after such time as the Rights become exercisable, all Preferred Shares issued or reserved for issuance to be listed or admitted to trading on such exchange upon
official notice of issuance, upon such exercise. 

  
 -16- 

 9.3    From and after such time as the Rights become exercisable , the
Company shall use its best efforts to (a) file, as soon as practicable following the earliest date after the occurrence of a Section 11.1.2 Event on which the consideration to be delivered by the Company upon exercise of the Rights has
been determined in accordance with Section 11.1.3 hereof, or as soon as required by law following the Distribution Date, as the case may be, a registration statement under the Securities Act, with respect to the securities purchasable upon
exercise of the Rights on an appropriate form, (b) cause such registration statement to become effective as soon as practicable after such filing and (c) cause such registration statement to remain effective (with a prospectus that at all
times meets the requirements of the Securities Act) until the earlier of (i) the date as of which the Rights are no longer exercisable for such securities and (ii) the Expiration Date. The Company will also take such action as may be
appropriate under, and which will ensure compliance with, the securities or “blue sky” laws of the various states in connection with the exercisability of the Rights. The Company may temporarily suspend (with prompt written notice thereof
to the Rights Agent; and until such written notice is received by the Rights Agent, the Rights Agent may assume conclusively that no such suspension has occurred) for a period of time not to exceed ninety (90) days after the date determined in
accordance with the provisions of the first sentence of this Section 9.3, the exercisability of the Rights in order to prepare and file such registration statement and permit it to become effective. Upon such suspension, the Company shall issue
a public announcement stating that the exercisability of the Rights has been temporarily suspended, as well as a public announcement at such time as the suspension is no longer in effect, in each case with prompt written notice to the Rights Agent
and without such written notice in each case, the Rights Agent may assume conclusively that no such suspension or lifting of such suspension has occurred. Notwithstanding any provision or language of this Agreement that might be construed to suggest
the contrary, the Rights shall not be exercisable in any jurisdiction unless the requisite qualification in such jurisdiction has been obtained and until a registration statement under the Securities Act has been declared effective, unless an
exemption therefrom is available. The Company shall issue written notification to the Rights Agent (x) when the registration statement referenced in clause (a) hereof has become effective, and (y) if applicable, when the registration
statement for the securities purchasable upon exercise of the Rights represented by depositary receipts has been declared effective, or the Company shall deliver an opinion of counsel for the Company in the United States, in a form reasonably
satisfactory to the Rights Agent, to the effect that the offering and sale of such securities purchasable upon exercise of the Rights is exempt from, or does not require registration under, the provisions of the Securities Act or any other
applicable laws. 
 9.4    The Company covenants and agrees that it will take all such action as may be necessary to
ensure that all Preferred Shares (or other securities of the Company) delivered upon the exercise of the Rights shall, at the time of delivery of the certificates or depositary receipts for such shares (subject to payment of the Exercise Price), be
duly and validly authorized and issued and fully paid and nonassessable. 
 9.5    The Company further covenants and
agrees that it will pay when due and payable any and all federal and state transfer taxes and charges which may be payable in respect of the issuance or delivery of the Right Certificates or of any certificates for Preferred Shares (or other
securities of the Company) upon the exercise of Rights. The Company shall not, however, be required to pay any transfer tax which may be payable in respect of any transfer or delivery of Right Certificates to a Person other than, or in respect of
the issuance or delivery certificates or depositary receipts for the Preferred Shares (or other securities of the Company) in a name other than that of, the Registered Holder of the Right Certificates evidencing Rights surrendered for exercise or to
issue or deliver any certificates or depositary receipts for the Preferred Shares (or other securities of the Company) upon the exercise of any Rights until such tax has been paid (any such tax being payable by the holder of such Right Certificate
at the time of surrender) or until it has been established to the Company’s or the Rights Agent’s reasonable satisfaction that no such tax is due. 

  
 -17- 

	 	10.	 Preferred Share Record Date 

Each Person in whose name any certificate for Preferred Shares (including any fraction of a Preferred Share) is issued upon the exercise of
Rights shall for all purposes be deemed to have become the Registered Holder of the Preferred Shares (or other securities of the Company) represented thereby on, and such certificate shall be dated the date upon which the Right Certificate
evidencing such Rights was duly surrendered with the forms of election and certification properly completed and duly executed and full payment of the Exercise Price (and any applicable transfer taxes and governmental charges) was duly made;
provided, however, that if the date of such surrender and payment is a date upon which the register of members of the Company is closed, such Person shall be deemed to have become the Registered Holder of such shares on, and such certificate shall
be dated, the next succeeding Business Day on which the register of members of the Company is open; and further provided, however, that if delivery of Preferred Shares (or other securities of the Company) is delayed pursuant to Section 9.3,
such Person shall be deemed to have become the Registered Holder of such Preferred Shares (or other securities of the Company) only when such shares first become deliverable. Prior to the exercise of the Rights evidenced thereby, the holder of a
Right Certificate shall not be entitled to any rights of a shareholder of the Company with respect to shares for which the Rights are exercisable, including, without limitation, the right to vote, to receive dividends or other distributions or to
exercise any preemptive rights, and shall not be entitled to receive any notice of any proceedings of the Company, except as provided herein. 
  

	 	11.	 Adjustment of Number and Kind of Shares or Number of Rights 

11.1    The number and kind of shares covered by each Right and the number of Rights outstanding are subject to adjustment
from time to time as provided in this Section 11. 
 11.1.1    In the event the Company at any time after the date
of this Agreement (a) declares and pays a dividend on the Preferred Shares payable in Preferred Shares, (b) subdivides the outstanding Preferred Shares, (c) combines the outstanding Preferred Shares into a smaller number of shares or
(d) issues any of its share capital in a reclassification of the Preferred Shares (including any such reclassification in connection with a consolidation or merger in which the Company is the continuing or surviving corporation), except as
otherwise provided in this Section 11.1 and Section 7.5 hereof, the number and kind of share capital issuable at the time of the record date for such dividend or of the effective date of such subdivision, combination or reclassification,
shall be proportionately adjusted so that the holder of any Right exercised after such time shall be entitled to receive the aggregate number and kind of share capital which, if such Right had been exercised immediately prior to such date and at a
time when the register of members of the Company was open, such holder would have owned upon such exercise and been entitled to receive by virtue of such dividend, subdivision, combination or reclassification; provided, however, that in no event
shall the consideration to be paid upon the exercise of a Right be less than the aggregate par value of the share capital of the Company issuable upon exercise of a Right. If an event occurs which would require an adjustment under both
Section 11.1.1 and Section 11.1.2 hereof, the adjustment provided for in this Section 11.1.1 shall be in addition to, and shall be made prior to, any adjustment required pursuant to Section 11.1.2 hereof. 

11.1.2    Subject to the provisions of Section 24 hereof, in the event any Person, alone or together with its
Affiliates and Associates, becomes an Acquiring Person (a “Section 11.1.2 Event”), then promptly following any such occurrence, proper provision shall be made so that each holder of a Right, except as provided in Section 7.5
hereof, shall thereafter have a right to receive, upon exercise thereof at the then current Exercise Price in accordance with the terms of this Agreement, and in lieu of Preferred Shares, such number of Ordinary Shares of the Company as shall equal
the result obtained by (a) multiplying the then current Exercise Price by the then number of one one-thousandths of a Preferred Share for which a Right was exercisable immediately prior to the first
occurrence of a Section 11.1.2 Event, whether or not such Right was then exercisable, and dividing that product by (b) 50% of the Fair Market Value per one one-thousandth of a Preferred Share (determined
pursuant to Section 11.4) on the date of the occurrence of a Section 11.1.2 Event (such number of shares being referred to as the “Adjustment Shares”). From and after the occurrence of an event specified in Section 13.1
hereof, any Rights that theretofore have not been exercised pursuant to this Section 11.1.2 shall thereafter be exercisable only in accordance with Section 13 and not pursuant to this Section 11.1.2. 

  
 -18- 

 11.1.3    The Company may at its option substitute for an Ordinary
Share issuable upon the exercise of Rights in accordance with the foregoing subparagraph a number of Preferred Shares or fraction thereof such that the Fair Market Value of one Preferred Share multiplied by such number or fraction is equal to the
Fair Market Value of one Ordinary Share. In lieu of issuing any Preferred Shares in accordance with Section 11.1.2 hereof, the Company, acting by or pursuant to resolution of the Board of Directors, may, and in the event that the number of
Preferred Shares which are authorized by the Certificate of Designation but not outstanding or reserved for issuance for purposes other than upon exercise of the Rights is not sufficient to permit the exercise in full of the Rights in accordance
with the foregoing Section 11.1.2, the Company, acting by or pursuant to resolution of the Board of Directors, shall: (a) determine the excess of (i) the Fair Market Value of the Adjustment Shares issuable upon the exercise of a Right
(the “Current Value”) over (ii) the Exercise Price attributable to each Right (such excess being referred to as the “Spread”) and (b) with respect to all or a portion of each Right (subject to Section 7.5 hereof),
make adequate provision to the extent permissible under applicable law to substitute for the Adjustment Shares, upon payment of the applicable Exercise Price, (1) cash, (2) a reduction in the Exercise Price, (3) Preferred Share Equivalents
which the Board of Directors has deemed to have the same value as Ordinary Shares of the Company, (4) debt securities of the Company, (5) other assets of the Company or (6) any combination of the foregoing which, when added to any
Preferred Shares issued upon such exercise, has an aggregate value equal to the Current Value, where such aggregate value has been determined by the Board of Directors based upon the advice of a nationally recognized investment banking firm selected
by the Board of Directors (such determination shall be filed in writing with the Rights Agent and shall be binding on the Rights Agent); provided, however, that if the Company has not made adequate provision to deliver value pursuant to clause
(b) above within thirty (30) days following, but not including, the later of (x) the first occurrence of a Section 11.1.2 Event and (y) the date on which the Company’s right of termination pursuant to Section 23.1
expires (the later of (x) and (y) being referred to herein as the “Section 11.1.2 Trigger Date”), then the Company shall be obligated to deliver, upon the surrender for exercise of a Right and without requiring payment of the
Exercise Price, Preferred Shares (to the extent available) and then, if necessary, cash, which shares and/or cash have an aggregate value equal to the Spread. If the Board of Directors determines in good faith that it is likely that sufficient
additional Preferred Shares could be authorized for issuance upon exercise in full of the Rights, the 30-day period set forth above may be extended to the extent necessary, but not more than ninety
(90) days after the Section 11.1.2 Trigger Date, in order that the Company may seek shareholder approval for the authorization of such additional shares (such period, as it may be extended, being referred to herein as the
“Substitution Period”). To the extent that the Company determines that some action need be taken pursuant to the first and/or second sentences of this Section 11.1.3, the Company (1) shall provide, subject to Section 7.5
hereof, that such action shall apply uniformly to all outstanding Rights and (2) may suspend the exercisability of the Rights until the expiration of the Substitution Period in order to seek any authorization of additional shares and/or to
decide the appropriate form of distribution to be made pursuant to such first sentence and to determine the value thereof. In the event of any such suspension, the Company shall issue a public announcement stating that the exercisability of the
Rights has been temporarily suspended and a public announcement at such time as the suspension is no longer in effect (with written notice in each case to be promptly delivered to the Rights Agent; and the Rights Agent shall be deemed to have no
knowledge of such suspension or lifting of suspension until it receives such written notice). For purposes of this Section 11.1.3, the value of the Preferred Shares shall be the Fair Market Value (as determined pursuant to Section 11.4
hereof) per Preferred Share on the Section 11.1.2 Trigger Date and the value of any Preferred Share Equivalent shall be deemed to have the same value as the Preferred Share on such date. The Company shall give the Rights Agent written notice of
all elections or determinations under Section 11 of this Agreement and the Rights Agent may conclusively assume that no elections or determinations under this section have been made until it receives written notice thereof. 

  
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 11.2    If the Company fixes a record date for the issuance of rights,
options or warrants to all holders of Preferred Shares entitling them (for a period expiring within forty-five (45) calendar days after such record date) to subscribe for or purchase Preferred Shares (or securities having the same or more
favorable rights, privileges and preferences as the Preferred Shares (“Preferred Share Equivalents”)) or securities convertible into Preferred Shares or Preferred Share Equivalents at a price per Preferred Share or per Preferred Share
Equivalents (or having a conversion price per share, if a security convertible into Preferred Shares or Preferred Share Equivalents) less than the Fair Market Value (as determined pursuant to Section 11.4 hereof) per Preferred Share on such
record date, the Exercise Price to be in effect after such record date shall be determined by multiplying the Exercise Price in effect immediately prior to such record date by a fraction, the numerator of which shall be the number of Preferred
Shares outstanding on such record date, plus the number of Preferred Shares which the aggregate offering price of the total number of Preferred Shares and/or Preferred Share Equivalents to be offered (and the aggregate initial conversion price of
the convertible securities so to be offered) would purchase at such Fair Market Value and the denominator of which shall be the number of Preferred Shares outstanding on such record date, plus the number of additional Preferred Shares and Preferred
Share Equivalents to be offered for subscription or purchase (or into which the convertible securities so to be offered are initially convertible); provided, however, that in no event shall the consideration to be paid upon the exercise of a Right
be less than the aggregate par value of the share capital of the Company issuable upon exercise of a Right. In case such subscription price may be paid in a consideration part or all of which is in a form other than cash, the value of such
consideration shall be the Fair Market Value thereof determined in accordance with Section 11.4 hereof. Preferred Shares owned by or held for the account of the Company shall not be deemed outstanding for the purpose of any such computation.
Such adjustments shall be made successively whenever such a record date is fixed; and in the event that such rights or warrants are not so issued, the Exercise Price shall be adjusted to be the Exercise Price which would then be in effect if such
record date had not been fixed. 

  
 -20- 

 11.3    If the Company shall fix a record date for the making of a
distribution to all holders of Preferred Shares (including any such distribution made in connection with a consolidation or merger in which the Company is the continuing or surviving corporation), of evidences of indebtedness, cash (other than a
regular periodic cash dividend out of the retained earnings or distributable reserves of the Company), assets (other than a dividend payable in Preferred Shares, but including any dividend payable in shares other than Preferred Shares) or
convertible securities, subscription rights or warrants (excluding those referred to in Section 11.2, the Exercise Price to be in effect after such record date shall be determined by multiplying the Exercise Price in effect immediately prior to
such record date by a fraction, the numerator of which shall be the Fair Market Value (as determined pursuant to Section 11.4 hereof) per one one-thousandth of a Preferred Share on such record date, less
the Fair Market Value (as determined pursuant to Section 11.4 hereof) of the portion of the cash, assets or evidences of indebtedness so to be distributed or of such convertible securities, subscription rights or warrants applicable to one one-thousandth of a Preferred Share and the denominator of which shall be the Fair Market Value (as determined pursuant to Section 11.4 hereof) per one one-thousandth of
a Preferred Share; provided, however, that in no event may the consideration to be paid upon the exercise of a Right be less than the aggregate par value of the share capital of the Company issuable upon exercise of a Right. Such adjustments shall
be made successively whenever such a record date is fixed; and in the event that such distribution is not so made, the Exercise Price shall again be adjusted to be the Exercise Price which would be in effect if such record date had not been fixed.

 11.4    For the purpose of this Agreement, the “Fair Market Value” of any Preferred Share, Ordinary Share
or any other capital share or any Right or other security or any other property shall be determined as provided in this Section 11.4. 

11.4.1    In the case of a publicly-traded share or other security, the Fair Market Value on any date shall be deemed to
be the average of the daily closing prices per share or per unit of such other security for the 30 consecutive Trading Days (as such term is hereinafter defined) immediately prior to, but not including, such date; provided, however, that in the
event that the Fair Market Value per share of any share is determined during a period following the announcement by the issuer of such share of (a) a dividend or distribution on such share payable in shares of the same class or securities
convertible into shares of the same class or (b) any subdivision, combination or reclassification of such share, and prior to the expiration of the 30 Trading Day period after, but not including, the
ex-dividend date for such dividend or distribution, or the record date for such subdivision, combination or reclassification, then, and in each such case, the Fair Market Value shall be properly adjusted to
take into account ex-dividend trading. The closing price for each day shall be the last sale price, regular way, or, in case no such sale takes place on such day, the average of the closing bid and asked
prices, regular way, in either case as reported in the principal consolidated transaction reporting system with respect to securities listed or admitted to trading on the NASDAQ Stock Market or the New York Stock Exchange or, if the securities are
not listed or admitted to trading on the NASDAQ Stock Market or the New York Stock Exchange, as reported in the principal consolidated transaction reporting system with respect to securities listed on the principal national securities exchange on
which such security is listed or admitted to trading; or, if not listed or admitted to trading on a national securities exchange, the last quoted price (or, if not so quoted, the average of the last quoted high bid and low asked prices) in the over-the-counter market, as reported such system then in use; or, if on any such date no bids for such security are quoted by any such organization, the average of the closing
bid and asked prices as furnished by a professional market maker making a market in such security selected by the Board of Directors of the Company. If on any such date no market maker is making a market in such security, the Fair Market Value of
such security on such date shall be determined reasonably and with utmost good faith to the holders of the Rights by the Board of Directors of the Company, provided, however, that if at the time of such determination there is an Acquiring Person,
the Fair Market Value of such security on such date shall be determined by a nationally recognized investment banking firm selected by the Board of Directors, which determination shall be described in a statement filed with the Rights Agent and
shall be binding on the Rights Agent and the holders of the Rights. The term “Trading Day” means a day on which the principal national securities exchange on which such security is listed or admitted to trading is open for the transaction
of business or, if such security is not listed or admitted to trading on any national securities exchange, a Business Day. 

  
 -21- 

 11.4.2    If a security is not publicly held or not so listed or
traded, “Fair Market Value” means the fair value per share or per other unit of such security, determined reasonably and with utmost good faith to the holders of the Rights by the Board of Directors of the Company, provided, however, that
if at the time of such determination there is an Acquiring Person, the Fair Market Value of such security on such date shall be determined by a nationally recognized investment banking firm selected by the Board of Directors, which determination
shall be described in a statement filed with the Rights Agent and shall be binding on the Rights Agent and the holders of the Rights; provided, however, that for the purposes of making any adjustment provided for by Section 11.1.2 hereof, the
Fair Market Value of a Preferred Share shall not be less than the product of the then Fair Market Value of an Ordinary Share multiplied by the higher of the then Dividend Multiple or Vote Multiple (as both of such terms are defined in the
Certificate of Designation attached as Exhibit A hereto) applicable to the Preferred Shares and shall not exceed 105% of the product of the then Fair Market Value of an Ordinary Share multiplied by the higher of the then Dividend Multiple or Vote
Multiple applicable to the Preferred Shares. 
 11.4.3    In the case of property other than securities, the Fair
Market Value thereof shall be determined reasonably and with utmost good faith to the holders of Rights by the Board of Directors of the Company, provided, however, that if at the time of such determination there is an Acquiring Person, the Fair
Market Value of such property on such date shall be determined by a nationally recognized investment banking firm selected by the Board of Directors, which determination shall be described in a statement filed with the Rights Agent and shall be
binding upon the Rights Agent and the holders of the Rights. 
 11.5    No adjustment in the Exercise Price shall be
required unless such adjustment would require an increase or decrease of at least 1% in the Exercise Price; provided, however, that any adjustments which by reason of this Section 11.5 are not required to be made shall be carried forward and
taken into account in any subsequent adjustment. All calculations under this Section 11 shall be made to the nearest cent or to the nearest hundred-thousandth of an Ordinary Share of the Company or
ten-millionth of a Preferred Share, as the case may be, or to such other figure as the Board of Directors may deem appropriate. Notwithstanding the first sentence of this Section 11.5, any adjustment
required by this Section 11 shall be made no later than the earlier of (i) three (3) years from the date of the transaction which mandates such adjustment or (ii) the Expiration Date. 

  
 -22- 

 11.6    If as a result of any provision of Section 11.1 or
Section 13.1 hereof, the holder of any Right thereafter exercised shall become entitled to receive any share capital of the Company other than Preferred Shares, thereafter the number of such other shares so receivable upon exercise of any Right
shall be subject to adjustment from time to time in a manner and on terms as nearly equivalent as practicable to the provisions with respect to the Preferred Shares contained in Sections 11.1 through 11.5, Sections 11.7 through 11.11, and
Section 11.13, inclusive, and the provisions of Sections 7, 9, 10, 13 and 14 hereof with respect to the Preferred Shares shall apply on like terms to any such other shares. 

11.7    All Rights originally issued by the Company subsequent to any adjustment made to the Exercise Price hereunder
shall evidence the right to purchase, at the adjusted Exercise Price, the number of one one-thousandths of a Preferred Share (or other securities or amount of cash or combination thereof) purchasable from time
to time hereunder upon exercise of the Rights, all subject to further adjustment as provided herein. 
 11.8    Unless
the Company has exercised its election as provided in Section 11.9, upon each adjustment of the Exercise Price as a result of the calculations made in Sections 11.2 and 11.3, each Right outstanding immediately prior to the making of such
adjustment shall thereafter evidence the right to purchase, at the adjusted Exercise Price, that number of one one-thousandths of a Preferred Share (calculated to the nearest one
ten-millionth) as the Board of Directors reasonably determines is appropriate to preserve the economic value of the Rights, including, by way of example, that number obtained by (a) multiplying (i) the
number of one one-thousandths of a Preferred Share for which a Right may be exercisable immediately prior to this adjustment by (ii) the Exercise Price in effect immediately prior to such adjustment of
the Exercise Price and (b) dividing the product so obtained by the Exercise Price in effect immediately after such adjustment of the Exercise Price. 

11.9    The Company may elect on or after the date of any adjustment of the Exercise Price to adjust the number of Rights,
in substitution for any adjustment in the number of Preferred Shares purchasable upon the exercise of a Right. Each of the Rights outstanding after the adjustment in the number of Rights shall be exercisable for the number of one one-thousandths of a Preferred Share for which a Right was exercisable immediately prior to such adjustment. Each Right held of record prior to such adjustment of the number of Rights shall become that number of
Rights (calculated to the nearest one hundred-thousandth) obtained by dividing the Exercise Price in effect immediately prior to adjustment of the Exercise Price by the Exercise Price in effect immediately after adjustment of the Exercise Price. The
Company shall make a public announcement (with prompt written notice thereof to the Rights Agent; and until such written notice is received by the Rights Agent, the Rights Agent may assume conclusively that no such adjustment has occurred) of its
election to adjust the number of Rights, indicating the record date for the adjustment, and, if known at the time, the amount of the adjustment to be made. This record date may be the date on which the Exercise Price is adjusted or any day
thereafter, but, if the Right Certificates have been issued, shall be at least ten (10) days later than the date of the public announcement. If Right Certificates have been issued, upon each adjustment of the number of Rights pursuant to this
Section 11.9, the Company shall, as promptly as practicable, cause to be distributed to holders of record of Right Certificates on such record date Right Certificates evidencing, subject to Section 14 hereof, the additional Rights to which
such holders are entitled as a result of such adjustment, or, at the option of the Company, shall cause to be distributed to such holders of record in substitution and replacement for the Right Certificates held by such holders prior to the date of
adjustment, and upon surrender thereof, if required by the Company, new Right Certificates evidencing all the Rights to which such holders are entitled after such adjustment. Right Certificates so to be distributed shall be issued, executed and
countersigned in the manner provided for herein (and may bear, at the option of the Company, the adjusted Exercise Price) and shall be registered in the names of the holders of record of Right Certificates on the record date specified in the public
announcement. 

  
 -23- 

 11.10    Irrespective of any adjustment or change in the Exercise Price
or the number of one one-thousandths of a Preferred Share issuable upon the exercise of the Rights, the Right Certificates theretofore and thereafter issued may continue to express the Exercise Price per share
and the number of shares which were expressed in the initial Right Certificates issued hereunder without prejudice to any adjustment or change without prejudice to any adjustment or change. 

11.11    Before taking any action that would cause an adjustment reducing the Exercise Price below the then stated value,
if any, of the number of one one-thousandths of a Preferred Share issuable upon exercise of the Rights, the Company shall take any corporate action which may, in the opinion of its counsel, be necessary in
order that the Company may validly and legally issue fully paid and non-assessable Preferred Shares at such adjusted Exercise Price. 

11.12    In any case in which this Section 11 shall require that an adjustment in the Exercise Price be made
effective as of a record date for a specified event, the Company may elect to defer (with prompt written notice thereof to the Rights Agent; and until such written notice is received by the Rights Agent, the Rights Agent may assume conclusively that
no such adjustment has occurred) until the occurrence of such event the issuing to the holder of any Right exercised after such record date the number of one one-thousandths of a Preferred Share or other
capital share or securities of the Company, if any, issuable upon such exercise over and above the number of one one-thousandths of a Preferred Share and other capital share or securities of the Company, if
any, issuable upon such exercise on the basis of the Exercise Price in effect prior to such adjustment; provided, however, that the Company shall deliver to such holder a due bill or other appropriate instrument evidencing such holder’s right
to receive such additional shares upon the occurrence of the event requiring such adjustment. 
 11.13    The Company
shall be entitled to make such reductions in the Exercise Price, in addition to those adjustments expressly required by this Section 11, as and to the extent that in their good faith judgment a majority of the Board of Directors shall determine
to be advisable in order that any consolidation or subdivision of the Preferred Shares, issuance wholly for cash of any Preferred Shares at less than the Fair Market Value, issuance wholly for cash of Preferred Shares or securities which by their
terms are convertible into or exchangeable for Preferred Shares, share dividends or issuance of rights, options or warrants referred to hereinabove in this Section 11, hereafter made by the Company to holders of its Preferred Shares, shall not
be taxable to such shareholders. The Rights Agent may conclusively assume that no such determinations have been made until it receives a written statement from the Company to such effect and may conclusively rely on such statement. 

  
 -24- 

 11.14    The Company covenants and agrees that it shall not, at any time
after the Distribution Date and so long as the Rights have not been terminated pursuant to Section 23 hereof or exchanged pursuant to Section 24 hereof, (a) consolidate with (other than a Subsidiary of the Company in a transaction
which complies with the proviso at the end of this sentence), (b) merge with or into, or (c) sell or transfer (or permit any Subsidiary to sell or transfer), in one transaction or a series of related transactions, assets or earning power
aggregating 50% or more of the assets or earning power of the Company and its Subsidiaries taken as a whole, to any other Person or Persons (other than the Company and/or any of its Subsidiaries in one or more transactions each of which complies
with the proviso at the end of this sentence) if (i) at the time of or immediately after such consolidation, merger or sale there are any rights, warrants or other instruments outstanding or agreements or arrangements in effect which would
substantially diminish or otherwise eliminate the benefits intended to be afforded by the Rights; (ii) prior to, simultaneously with or immediately after such consolidation, merger or sale the shareholders of a Person who constitutes, or would
constitute, the “Principal Party” for the purposes of Section 13.1 hereof have received a distribution of Rights previously owned by such Person or any of its Affiliates and Associates; provided, however, that this Section 11.14
shall not affect the ability of any Subsidiary of the Company to consolidate with, merge with or into, or sell or transfer assets or earning power to, any other Subsidiary of the Company; or (iii) the form or nature of organization of the
Principal Party would preclude or limit the exercisability of the Rights. The Company further covenants and agrees that after the Distribution Date it will not, except as permitted by Section 23 or Section 27 hereof, take (or permit any
Subsidiary to take) any action if at the time such action is taken it is reasonably foreseeable that such action will substantially diminish or otherwise eliminate the benefits intended to be afforded by the Rights. 

11.15    In the event the Company at any time after the date of this Agreement and prior to the Distribution Date
(a) declares and pays any dividend on the outstanding Ordinary Shares of the Company payable in Ordinary Shares of the Company or (b) effects a subdivision, combination or consolidation of the outstanding Ordinary Shares of the Company (by
reclassification or otherwise than by payment of dividends in Ordinary Shares of the Company) into a greater or lesser number of Ordinary Shares of the Company, then in any such case (i) the number of one
one-thousandths of a Preferred Share purchasable after such event upon proper exercise of each Right shall be determined by multiplying the number of one one-thousandths
of a Preferred Share so purchasable immediately prior to such event by a fraction, the numerator of which is the number of Ordinary Shares of the Company outstanding immediately prior to such event and the denominator of which is the number of
Ordinary Shares of the Company outstanding immediately after such event, and (ii) each Ordinary Share of the Company outstanding immediately after such event shall have issued with respect to it that number of Rights which each Ordinary Share
of the Company outstanding immediately prior to such event had issued with respect to it. The adjustments provided for in this Section 11.15 shall be made successively whenever such a dividend is declared or paid or such a subdivision,
combination or consolidation is effected. The Rights Agent may conclusively assume that no such determinations have been made until it receives a written statement from the Company to such effect and may conclusively rely on such statement. 

11.16    The exercise of Rights under Section 11.1.2 shall only result in the loss of rights under
Section 11.1.2 to the extent so exercised and shall not otherwise affect the rights of holders of Right Certificates under this Rights Agreement, including rights to purchase securities of the Principal Party following a Section 13 Event
which has occurred or may thereafter occur, as set forth in Section 13 hereof. Upon proper exercise of a Right Certificate under Section 11.1.2, the Rights Agent shall at the Company’s expense return such Right Certificate duly marked
to indicate that such exercise has occurred. 

  
 -25- 

	 	12.	 Certificate of Adjusted Exercise Price or Number of Shares 

Whenever an adjustment is made as provided in Section 11 or Section 13 hereof, the Company shall (a) promptly prepare a
certificate duly executed by an officer of the Company setting forth such adjustment and a brief statement of the facts giving rise to such adjustment along with computations and methodology accounting for such adjustment, (b) promptly file
with the Rights Agent and with each transfer agent for the Preferred Shares and the Ordinary Shares of the Company a copy of such certificate and (c) mail a brief summary thereof to each holder of a Right Certificate in accordance with
Section 26 hereof. Notwithstanding the foregoing sentence, the failure of the Company to make such certification or give such notice shall not affect the validity of such adjustment or the force or effect of the requirement for such adjustment.
The Rights Agent shall be fully protected in relying on any such certificate and on any adjustment or statement contained therein and shall have no duty or liability with respect to, and shall not be deemed to have knowledge of any adjustment unless
and until it has received such certificate. 
  

	 	13.	 Consolidation, Merger or Sale or Transfer of Assets 

13.1    In the event that, following the Share Acquisition Date, directly or indirectly, (a) the Company consolidates
with, or merges with and into, any other Person (other than a Subsidiary of the Company in a transaction which is not prohibited by Section 11.14 hereof), and the Company is not the continuing or surviving corporation of such consolidation or
merger, (b) any Person (other than a Subsidiary of the Company in a transaction which is not prohibited by the proviso at the end of the first sentence of Section 11.14 hereof) consolidates with the Company, or merges with and into the
Company and the Company is the continuing or surviving corporation of such merger and, in connection with such merger, all or part of the outstanding Ordinary Shares of the Company are changed into or exchanged or cancelled for shares or other
securities of any other Person (or of the Company) or cash or any other property, or (c) the Company sells, mortgages or otherwise transfers (or one or more of its Subsidiaries sells, mortgages or otherwise transfers), in one transaction or a
series of related transactions, assets or earning power aggregating 50% or more of the assets or earning power of the Company and its Subsidiaries (taken as a whole) to any other Person or Persons (other than the Company or any Subsidiary of the
Company in one or more transactions, each of which is not prohibited by the proviso at the end of the first sentence of Section 11.14 hereof), then, and in each such case, proper provision shall be made so that: (i) each holder of a Right,
except as provided in Section 7.5 hereof, has the right to receive, upon the exercise thereof at the then current Exercise Price in accordance with the terms of this Agreement, such number of validly authorized and issued, fully paid and non-assessable shares of freely tradeable Ordinary Shares of the Principal Party (as hereinafter defined in Section 13.2), free and clear of rights of call or first refusal, liens, encumbrances, transfer
restrictions or other adverse claims, as is equal to the result obtained by (x) multiplying the then current Exercise Price by the number of one one-thousandths of a Preferred Share for which a Right is
exercisable immediately prior to the first occurrence of a Section 13 Event, and dividing that product by (y) 50% of the Fair Market Value (determined pursuant to Section 11.4 hereof) per Ordinary Share of such Principal Party on the date
of consummation of such consolidation, merger, sale or transfer; provided, however, that the Exercise Price (as theretofore adjusted in accordance with the provisions hereof) and the number of Ordinary Shares of such Principal Party so receivable
upon exercise of a Right shall be subject to further adjustment as appropriate in accordance with Section 11.6 hereof to reflect any events occurring in respect of the Ordinary Shares of such Principal Party after the occurrence of such
consolidation, merger, sale or transfer; (ii) such Principal Party shall thereafter be liable for, and shall assume, by virtue of such consolidation, merger, sale, mortgage or transfer, all the obligations and duties of the Company pursuant to
this Agreement; (iii) the term “Company” shall thereafter be deemed to refer to such Principal Party, it being specifically intended that the provisions of Section 11 hereof shall apply to such Principal Party; and (iv) such
Principal Party shall take such steps (including, but not limited to, the reservation of a sufficient number of Ordinary Shares to permit exercise of all outstanding Rights in accordance with this Section 13.1 and the making of payments in cash
and/or other securities in accordance with Section 11.1.3 hereof) in connection with such consummation as may be necessary to assure that the provisions hereof are thereafter applicable, as nearly as reasonably may be, in relation to its
Ordinary Shares thereafter deliverable upon the exercise of the Rights; provided that, upon the subsequent occurrence of any consolidation, merger, sale or transfer of assets or other extraordinary transaction in respect of such Principal Party,
each holder of a Right shall thereupon be entitled to receive, upon exercise of a Right and payment of the Exercise Price as provided in this Section 13.1, such cash, shares, rights, warrants and other property which such holder would have been
entitled to receive had such holder, at the time of such transaction, owned the Ordinary Shares of the Principal Party receivable upon the exercise of a Right pursuant to this Section 13.1, and such Principal Party shall take such steps
(including, but not limited to, reservation of shares) as may be necessary to permit the subsequent exercise of the Rights in accordance with the terms hereof for such cash, shares, rights, warrants and other property. 

  
 -26- 

 13.2    “Principal Party” means (a) in the case of any
transaction described in clause (a) or (b) of the first sentence of Section 13.1, the Person that is the issuer of any securities into which Ordinary Shares of the Company are converted or for which the Ordinary Shares are cancelled in
such merger or consolidation, or, if there is more than one such issuer, the issuer of Ordinary Shares that has the highest aggregate Fair Market Value (determined pursuant to Section 11.4), and if no securities are so issued, the Person that
is the other party to the merger or consolidation, or, if there is more than one such Person, the Person the Ordinary Shares of which has the highest aggregate Fair Market Value (determined pursuant to Section 11.4); and (b) in the case of
any transaction described in clause (c) of the first sentence of Section 13.1, the Person that is the party receiving the greatest portion of the assets or earning power transferred pursuant to such transaction or transactions, or, if each
Person that is a party to such transaction or transactions receives the same portion of the assets or earning power transferred pursuant to such transaction or transactions or if the Person receiving the largest portion of the assets or earning
power cannot be determined, whichever Person the Ordinary Shares of which has the highest aggregate Fair Market Value (determined pursuant to Section 11.4); provided, however, that in any such case, (i) if the Ordinary Shares of such
Person is not at such time and has not been continuously over the preceding 12-month period registered under Section 12 of the Exchange Act (“Registered Ordinary Shares”) or such Person is not a
corporation, and such Person is a direct or indirect Subsidiary or Affiliate of another Person who has Registered Ordinary Shares outstanding, “Principal Party” shall refer to such other Person; (ii) if the Ordinary Shares of such
Person is not Registered Ordinary Shares or such Person is not a corporation, and such Person is a direct or indirect Subsidiary of another Person but is not a direct or indirect Subsidiary of another Person which has Registered Ordinary Shares
outstanding, “Principal Party” shall refer to the ultimate parent entity of such first-mentioned Person; (iii) if the Ordinary Shares of such Person is not Registered Ordinary Shares or such Person is not a corporation, and such
Person is directly or indirectly controlled by more than one Person, and one or more of such other Persons has Registered Ordinary Shares outstanding, “Principal Party” shall refer to whichever of such other Persons is the issuer of the
Registered Ordinary Shares having the highest aggregate Fair Market Value (determined pursuant to Section 11.4); and (iv) if the Ordinary Shares of such Person is not Registered Ordinary Shares or such Person is not a corporation, and such
Person is directly or indirectly controlled by more than one Person, and none of such other Persons has Registered Ordinary Shares outstanding, “Principal Party” shall refer to whichever ultimate parent entity is the Company having the
greatest shareholders’ equity or, if no such ultimate parent entity is a corporation, “Principal Party” shall refer to whichever ultimate parent entity is the entity having the greatest net assets. 

  
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 13.3    The Company shall not consummate any such consolidation, merger,
sale or transfer unless prior thereto (a) the Principal Party has a sufficient number of authorized Ordinary Shares, which have not been issued or reserved for issuance, to permit the exercise in full of the Rights in accordance with this
Section 13, and (b) the Company and each Principal Party and each other Person who may become a Principal Party as a result of such consolidation, merger, sale or transfer have executed and delivered to the Rights Agent a supplemental
agreement providing for the terms set forth in Sections 13.1 and 13.2 and further providing that, as soon as practicable after the date of any consolidation, merger, sale or transfer of assets mentioned in Section 13.1, the Principal Party at
its own expense will: 
 13.3.1    prepare and file a registration statement under the Securities Act with respect to
the Rights and the securities purchasable upon exercise of the Rights on an appropriate form, use its reasonable best efforts to cause such registration statement to become effective as soon as practicable after such filing and use its reasonable
best efforts to cause such registration statement to remain effective (with a prospectus that at all times meets the requirements of the Securities Act) until the Expiration Date; 

13.3.2    use its reasonable best efforts to qualify or register the Rights and the securities purchasable upon exercise
of the Rights under the blue sky laws of such jurisdictions as may be necessary or appropriate; 
 13.3.3    use its
reasonable best efforts to list (or continue the listing of) the Rights and the securities purchasable upon exercise of the Rights on a national securities exchange; 

13.3.4    deliver to holders of the Rights historical financial statements for the Principal Party and each of its
Affiliates which comply in all respects with the requirements for registration on Form 10 under the Exchange Act; and 

13.3.5    obtain waivers of any rights of first refusal or preemptive rights in respect of the Ordinary Shares of the
Principal Party subject to purchase upon exercise of outstanding Rights. 

  
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 13.4    In case the Principal Party which is to be a party to a
transaction referred to in this Section 13 has a provision in any of its authorized securities or in its articles of association, memorandum of association, charter or by-laws or other instrument
governing its corporate affairs, which provision would have the effect of (a) causing such Principal Party to issue (other than to holders of Rights pursuant to this Section 13), in connection with, or as a consequence of, the consummation
of a transaction referred to in this Section 13, Ordinary Shares of such Principal Party at less than the then current Fair Market Value (determined pursuant to Section 11.4) or securities exercisable for, or convertible into, Ordinary
Shares of such Principal Party at less than such Fair Market Value, or (b) providing for any special payment, tax or similar provisions in connection with the issuance of the Ordinary Shares of such Principal Party pursuant to the provisions of
this Section 13, then, in such event, the Company shall not consummate any such transaction unless prior thereto the Company and such Principal Party has executed and delivered to the Rights Agent a supplemental agreement providing that the
provision in question of such Principal Party has been cancelled, waived or amended, or that the authorized securities shall be redeemed, so that the applicable provision will have no effect in connection with, or as a consequence of, the
consummation of the proposed transaction. The provisions of this Section 13 shall similarly apply to successive mergers or consolidations or sales or other transfers. 

13.5    In no event shall the Rights Agent have any liability in respect of any such Principal Party transactions,
including, without limitation, the propriety thereof. The Rights Agent may rely and be fully protected in relying upon a certificate of the Company stating that the provisions of this Section 13 have been fulfilled. Notwithstanding any
provision or language of this Agreement that might be construed to suggest the contrary, the prior written consent of the Rights Agent must be obtained in connection with any supplemental agreement which alters any of the rights, liabilities or
duties of the Rights Agent. 
 13.6    Notwithstanding anything contained herein, in the event of any merger or other
acquisition transaction involving the Company pursuant to a merger or other acquisition agreement between the Company and any Person (or one or more of such Person’s Affiliates or Associates) which agreement has been approved by the Board of
Directors prior to any Person becoming an Acquiring Person, this Agreement and the rights of holders of Rights hereunder shall be terminated in accordance with Section 7. 

 

	 	14.	 Fractional Rights and Fractional Shares 

14.1    The Company shall not be required to issue fractions of Rights, except prior to the Distribution Date as provided
in Section 11.15 hereof, or to distribute Right Certificates which evidence fractional Rights. If the Company elects not to issue such fractional Rights, the Company shall pay, in lieu of such fractional Rights, to the Registered Holders of the
Right Certificates with regard to which such fractional Rights would otherwise be issuable, an amount in cash equal to the same fraction of the Fair Market Value of a whole Right, as determined pursuant to Section 11.4 hereof. 

  
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 14.2    The Company shall not be required to issue fractions of
Preferred Shares (other than fractions which are integral multiples of one one-thousandths of a Preferred Share) upon exercise of the Rights or to distribute certificates which evidence fractional Preferred
Shares (other than fractions which are integral multiples of one one-thousandths of a Preferred Share). In lieu of fractional Preferred Shares that are not integral multiples of one one-thousandths of a Preferred Share, the Company may pay to the Registered Holders of Right Certificates at the time such Rights are exercised as herein provided an amount in cash equal to the same fraction of the
Fair Market Value of one one-thousandth of a Preferred Share. For purposes of this Section 14.2, the Fair Market Value of one one-thousandth of a Preferred Share
shall be determined pursuant to Section 11.4 hereof for the Trading Day immediately prior to the date of such exercise. As soon as practicable, the Company shall notify the Rights Agent of any election pursuant to this Section 14.2. The
Rights Agent may assume conclusively that no such election has occurred until it receives such notice. 
 14.3    The
holder of a Right by the acceptance of the Rights expressly waives his right to receive any fractional Rights or any fractional shares upon exercise of a Right, except as permitted by this Section 14. 

14.4    Whenever a payment for fractional Rights or fractional shares is to be made by the Rights Agent either under this
Section or under Section 24, the Company shall (i) promptly prepare and deliver to the Rights Agent a certificate setting forth in reasonable detail the facts related to such payments and the prices and/or formulas utilized in calculating
such payments, and (ii) provide sufficient monies to the Rights Agent in the form of immediately available funds which under applicable law or rule are irreversible and not subject to any security interest, levy or other encumbrance to making
such payments. The Rights Agent shall be fully protected in relying upon such a certificate and shall have no duty with respect to, and shall not be deemed to have knowledge of any payment for fractional Rights or fractional shares under any Section
of this Agreement relating to the payment of fractional Rights or fractional shares unless and until the Rights Agent shall have received such a certificate and sufficient monies. 

 

	 	15.	 Rights of Action 

All rights of action in respect of this Agreement, other than rights of action vested in the Rights Agent pursuant to this Agreement, are
vested in the respective Registered Holders of the Right Certificates (or, prior to the Distribution Date, the Registered Holders of the Ordinary Shares and ADS Holders of the Company); and any Registered Holder of any Right Certificate (or, prior
to the Distribution Date, of the Ordinary Shares of the Company), without the consent of the Rights Agent or of the holder of any other Right Certificate (or, prior to the Distribution Date, registered holders of the Ordinary Shares and ADS Holders
of the Company), may, in such Registered Holder’s own behalf and for such Registered Holder’s own benefit, enforce, and may institute and maintain any suit, action or proceeding against the Company to enforce, or otherwise act in respect
of, his right to exercise the Rights evidenced by such Right Certificate (or, prior to the Distribution Date, such Ordinary Shares) in the manner provided therein and in this Agreement. Without limiting the foregoing or any remedies available to the
holders of Rights, it is specifically acknowledged that the holders of Rights, the registered holders of Ordinary Shares, or the ADS Holders would not have an adequate remedy at law for any breach of this Agreement and shall be entitled to specific
performance of the obligations hereunder and injunctive relief against actual or threatened violations of the obligations hereunder of any Person subject to this Agreement. 

  
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	 	16.	 Agreement of Right Holders 

Every holder of a Right, by accepting the same, consents and agrees with the Company and the Rights Agent and with every other holder of a
Right that: 
 16.1    prior to the Distribution Date, each Right will be transferable only simultaneously and together
with the transfer of Ordinary Shares of the Company; 
 16.2    after the Distribution Date, the Right Certificates are
transferable only on the registry books of the Rights Agent if surrendered at the office or offices of the Rights Agent designated for such purpose, duly endorsed or accompanied by a proper instrument of transfer along with a form of assignment and
certificate set forth on the reverse side thereof duly executed, accompanied by a signature guarantee and such other and further documentation as the Rights Agent may require; 

16.3    subject to Sections 6.1 and 7.6, the Company and the Rights Agent may deem and treat the Person in whose name a
Right Certificate (or, prior to the Distribution Date, the associated certificate representing (or Book Entry shares in respect of) Ordinary Shares of the Company) is registered as the absolute owner thereof and of the Rights evidenced thereby
(notwithstanding any notations of ownership or writing on the Right Certificates or the associated certificate representing (or notices provided to holders of Book Entry) Ordinary Shares of the Company made by anyone other than the Company or the
Rights Agent) for all purposes whatsoever, and, subject to the last sentence of Section 7.5, neither the Company nor the Rights Agent shall be affected by any notice to the contrary; and 

16.4    notwithstanding any provision or language of this Agreement that might be construed to suggest the contrary,
neither the Company nor the Rights Agent shall have any liability to any holder of a Right or other Person as a result of its inability to perform any of its obligations under this Agreement by reason of any preliminary or permanent injunction or
other order, judgment, decree or ruling (whether interlocutory or final) issued by a court of competent jurisdiction or by a governmental, regulatory, self-regulatory or administrative agency or commission, or any statute, rule, regulation or
executive order promulgated or enacted by any governmental authority, prohibiting or otherwise restraining performance of such obligation; provided, however, that the Company shall use its best efforts to have any such injunction, order, judgment,
decree or ruling lifted or otherwise overturned as soon as possible. 
  

	 	17.	 Right Certificate Holder Not Deemed a Shareholder 

No holder, as such, of any Right Certificate shall be entitled to vote, receive dividends or be deemed for any purpose the holder of the
Preferred Shares or any other securities of the Company which may at any time be issuable on the exercise of the Rights represented thereby, nor shall anything contained herein or in any Right Certificate be construed to confer upon the holder of
any Right Certificate, as such, any of the rights of a shareholder or member of the Company or any right to vote for the election of directors or upon any matter submitted to shareholders or members at any meeting thereof, or to give or withhold
consent to any corporate action, or to receive notice of meetings or other actions affecting shareholders or members (except as provided in Section 25 hereof), or to receive dividends or subscription rights, or otherwise, until the Right or
Rights evidenced by such Right Certificate has been exercised in accordance with the provisions hereof. 

  
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	 	18.	 Concerning the Rights Agent 

18.1    In consideration for the services rendered hereunder, The Company shall pay the Rights Agent its fees in accordance
with and pursuant to the written fee schedule agreed between the Company and the Rights Agent, plus the Rights Agent’s reasonable expenses and counsel fees, expenses and other disbursements incurred in the preparation, negotiations, delivery,
amendments, administration and execution of this Agreement and the exercise and performance of its duties hereunder, including but not limited to any taxes or charges imposed as a result of the action taken by it hereunder (other than taxes or
charges imposed on income). Except to the extent expressly set forth in this Agreement, no provision of this Agreement shall require the Rights Agent to expend or risk the Rights Agent’s own funds or otherwise incur any financial liability in
the performance of any of the Rights Agent’s duties hereunder or in the exercise of the Rights Agent’s rights if there are reasonable grounds for believing that repayment of such funds or adequate indemnification against such risk or
liability is not reasonably assured to it. 
 18.2    The Company agrees to indemnify the Rights Agent for, and to hold
it harmless against, any and all loss, liability, damage, judgment, fine, penalty, claim, demand, settlement, cost or expense (including, without limitation, the fees and expenses of legal counsel), incurred without bad faith, gross negligence or
willful misconduct on the part of the Rights Agent, (which bad faith, gross negligence or willful misconduct must be determined by a final, non-appealable judgment of a court of competent jurisdiction), for
any action taken, suffered, or omitted to be taken by the Rights Agent in connection with the acceptance, administration, exercise and performance of its duties under this Agreement, including the costs and expenses (including attorneys’ fees
and expenses) of defending against any claim (whether asserted by the Company, any holders of Rights or any other Person) of liability hereunder or arising from enforcing this Agreement. The costs and expenses incurred in enforcing this right of
indemnification shall be paid by the Company. The provisions of this Section 18.2 shall survive the termination of this Agreement, the exercise or expiration of the Rights and the resignation, replacement or removal of the Rights Agent. 

18.3    The Rights Agent shall be authorized and protected against and shall incur no liability for or in respect of any
action taken, suffered or omitted to be taken by it in connection with its acceptance and administration of this Agreement and the exercise and performance of its duties hereunder in reliance upon any Right Certificate or certificate representing
Ordinary Shares of the Company, Preferred Shares, or other securities of the Company, instrument of assignment or transfer, power of attorney, endorsement, affidavit, letter, notice, direction, instruction, consent, certificate, statement, or other
paper or document believed by it to be genuine and to be signed, executed and, where necessary, verified or acknowledged, by the proper Person or Persons, or otherwise upon the advice of counsel. The Rights Agent shall not be deemed to have any
knowledge of any event of which it was supposed to receive notice thereof hereunder, and the Rights Agent shall be fully protected and shall incur no liability for failing to take any action in connection therewith unless and until it has received
such notice in writing. 

  
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 18.4    Notwithstanding any provision or language of this Agreement that
might be construed to suggest the contrary, in no event shall the Rights Agent be liable for special, incidental, indirect, punitive or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the
Rights Agent has been advised of the likelihood of the loss or damage and regardless of the form of the action. 
  

	 	19.	 Merger or Consolidation or Change of Name of Rights Agent 

19.1    Any Person into which the Rights Agent or any successor Rights Agent may be merged or with which it may be
consolidated, or any Person resulting from any merger or consolidation to which the Rights Agent or any successor Rights Agent is a party, or any Person succeeding to the shareholder services or share transfer business of the Rights Agent or any
successor Rights Agent, shall be the successor to the Rights Agent under this Agreement without the execution or filing of any paper or any further act on the part of any of the parties hereto, provided that such Person would be eligible for
appointment as a successor Rights Agent under the provisions of Section 21 hereof. In case at the time such successor Rights Agent shall succeed to the agency created by this Agreement, any of the Right Certificates has been countersigned but
not delivered, any such successor Rights Agent may adopt the countersignature of the predecessor Rights Agent and deliver such Right Certificates so countersigned; and in case at that time any of the Right Certificates shall not have been
countersigned, any successor Rights Agent may countersign such Right Certificates either in the name of the predecessor Rights Agent or in the name of the successor Rights Agent; and in all such cases such Right Certificates shall have the full
force provided in the Right Certificates and in this Agreement. 
 19.2    In case at any time the name of the Rights
Agent is changed and at such time any of the Right Certificates have been countersigned but not delivered, the Rights Agent may adopt the countersignature under its prior name and deliver Right Certificates so countersigned; and in case at that time
any of the Right Certificates have not been countersigned, the Rights Agent may countersign such Right Certificates either in its prior name or in its changed name; and in all such cases such Right Certificates shall have the full force provided in
the Right Certificates and in this Agreement. 
  

	 	20.	 Duties of Rights Agent 

20.1    The Rights Agent undertakes to perform only the duties and obligations expressly imposed by this Agreement (and no
implied duties or obligations shall be read into this Agreement against the Rights Agent) upon the following terms and conditions, by all of which the Company and the holders of Right Certificates, by their acceptance thereof, shall be bound. 

20.2    The Rights Agent may consult with legal counsel selected by it (who may be an employee of or outside legal counsel
for the Company or the Rights Agent or otherwise), and the advice or opinion of such counsel shall be full and complete authorization and protection to the Rights Agent, and the Rights Agent shall incur no liability for, or in respect of any action
taken, suffered or omitted to be taken by it in accordance with such advice or opinion. 
 20.3    The Rights Agent
makes no, and will not be deemed to have made, representations with respect to, and shall have no duties, responsibilities or obligations with respect to determining, the validity, sufficiency, value or genuineness of any Ordinary Shares, Preferred
Shares or Preferred Share Equivalents, Rights Certificate or other documents deposited with or delivered to it or any signature or endorsement set forth on or in connection with such documents. 

  
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 20.4    The Rights Agent shall not be obligated to commence or
voluntarily participate in any suit, action or proceeding arising out of or related to this Agreement. 

20.5    Whenever in the performance of its duties under this Agreement the Rights Agent shall deem it necessary or
desirable that any fact or matter (including, without limitation, the identity of any Acquiring Person and the determination of “Fair Market Value”) be proved or established by the Company prior to taking, suffering or omitting to take any
action hereunder, such fact or matter (unless other evidence in respect thereof is herein specifically prescribed) may be deemed to be conclusively proved and established by a certificate signed by a Person believed by the Rights Agent to be a duly
authorized officer of the Company and delivered to the Rights Agent. Any such certificate shall be full and complete authorization and protection to the Rights Agent for any action taken, suffered or omitted to be taken by it under the provisions of
this Agreement in reliance upon such certificate. 
 20.6    The Rights Agent shall be liable hereunder only for its own
bad faith, gross negligence or willful misconduct (which bad faith, gross negligence or willful misconduct must be determined by a final, non-appealable judgment of a court of competent jurisdiction). 

20.7    The Rights Agent shall not be liable for or by reason of any of the statements of fact or recitals contained in
this Agreement or in the Right Certificates (except its countersignature thereof) or be required to verify or determine the correctness, validity or accurateness of the same, but all such statements and recitals are and shall be deemed to have been
made by the Company only. 
 20.8    The Rights Agent shall be protected and shall incur no liability for or in respect
of any action taken, suffered or omitted by it in connection with its administration of this Agreement in reliance upon any Right Certificate, Receipt or certificate for Ordinary Shares, Preferred Shares or Preferred Share Equivalents or for other
securities of the Company, instrument of assignment or transfer, power of attorney, endorsement, affidavit, letter, notice, direction, consent, instruction, adjustment notice, certificate, statement, or other paper or document believed by it to be
genuine and to be signed, executed and, where necessary, verified or acknowledged, by the proper Person or Persons. 

20.9    The Rights Agent shall (i) not have any liability for, or be under any responsibility in respect of the
validity of this Agreement or the execution and delivery hereof (except the due execution hereof by the Rights Agent) or in respect of the validity or execution of any Right Certificate (except its countersignature thereof); (ii) not have any
liability for or be responsible for any breach by the Company of any covenant or condition contained in this Agreement or in any Right Certificate; (iii) not have any liability for or be responsible for any adjustment or change in the
exercisability of the Rights (including the Rights becoming void pursuant to Section 7.5 hereof) or any change, adjustment or procedure required under the provisions of Sections 11, 13 or 23.3 hereof or responsible for the manner, method or
amount of any such adjustment or the ascertaining of the existence of facts that would require any such adjustment (except with respect to the exercise of Rights evidenced by Right Certificates after the Rights Agent’s actual receipt of a
certificate describing any such adjustment furnished in accordance with Section 12 hereof), nor shall it be responsible for any determination by the Board of Directors of the Company of the Fair Market Value of the Rights or Preferred Shares
pursuant to the provisions of Section 14 hereof; (iv) not by any act hereunder be deemed to make any representation or warranty as to the authorization or reservation of any Ordinary Shares of the Company or Preferred Shares or other
security to be issued pursuant to this Agreement or any Right Certificate or as to whether any Ordinary Shares of the Company or Preferred Shares or other security will, when so issued, be validly authorized and issued, fully paid and nonassessable,
nor shall the Rights Agent be responsible for the legality of the terms hereof in its capacity as an administrative agent. 

  
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 20.10    The Company agrees that it will perform, execute, acknowledge
and deliver or cause to be performed, executed, acknowledged and delivered all such further and other acts, instruments and assurances as may reasonably be required by the Rights Agent for the carrying out or performing by the Rights Agent of the
provisions of this Agreement. 
 20.11    The Rights Agent is hereby authorized and directed to accept instructions with
respect to the performance of its duties hereunder and to accept and rely on any certificates delivered pursuant to any provision hereof from any Person believed by the Rights Agent to be a duly authorized officer of the Company, and is authorized
to apply to such officers for advice or instructions in connection with its duties, and such instructions shall be full authorization and protection to the Rights Agent, and the Rights Agent shall not be liable for or in respect of any action taken,
suffered or omitted to be taken by it in accordance with instructions of any such officer or for any delay in acting while waiting for those instructions. The Rights Agent shall be fully authorized and protected in relying upon the most recent
instructions received by it from any such officer. Any application by the Rights Agent for written instructions from the Company may, at the option of the Rights Agent, set forth in writing any action proposed to be taken, suffered or omitted to be
taken by the Rights Agent under this Agreement and the date on and/or after which such action will be taken or such omission will be effective. The Rights Agent shall not be liable for any action taken, suffered or omitted to be taken by the Rights
Agent in accordance with a proposal included in any such application on or after the date specified in such application (which date shall not be less than five (5) Business Days after the date any officer of the Company actually receives such
application, unless any such officer has consented in writing to an earlier date) unless, prior to taking any such action (or the effective date in the case of an omission), the Rights Agent has received written instructions from the Company in
response to such application specifying the action to be taken, suffered or omitted to be taken, or a written objection by the Company to such proposal. 

20.12    The Rights Agent shall not have any responsibility in respect of the validity of this Agreement or the execution
and delivery hereto (except the due execution by the Rights Agent) or in respect of the validity or execution of any Right Certificate (except its countersignature thereof); nor shall it be responsible for any breach by the Company of any covenant
or condition contained in this Agreement or in any Right Certificate; nor shall it be responsible for any adjustment required under the provisions of Section 11 or Section 13 or responsible for the manner, method or amount of any such
adjustment or the ascertaining of the existence of facts that would require any such adjustment (except with respect to the exercise of Rights evidenced by Right Certificates after actual notice of any such adjustment); nor shall it by any act
hereunder be deemed to make any representation or warranty as to the authorization or reservation of any Ordinary Shares, Preferred Shares or Preferred Share Equivalents to be issued pursuant to this Agreement or any Right Certificate or as to
whether any Ordinary Shares, Preferred Shares or Preferred Share Equivalents will, when issued, be validly authorized and issued, fully paid and non-assessable. 

  
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 20.13    The Rights Agent and any shareholder, director, officer,
Affiliate or employee of the Rights Agent may buy, sell or deal in any of the Rights or other securities of the Company or become pecuniarily interested in any transaction in which the Company may be interested, or contract with or lend money to the
Company or otherwise act as fully and freely as though it were not the Rights Agent under this Agreement. Nothing herein shall preclude the Rights Agent, or any such shareholder, director, officer, Affiliate or employee from acting in any other
capacity for the Company or for any other legal entity. 
 20.14    The Rights Agent may execute and exercise any of the
rights or powers hereby vested in it or perform any duty hereunder either itself (through its directors, officers and employees) or by or through its attorneys or agents, subagents, custodians or subcustodians appointed by it, and the Rights Agent
shall not be responsible or liable for any act, default, neglect or misconduct of any such attorneys or agents, subagents, custodians or subcustodians or for any loss to the Company or any other Person resulting from any such act, default, neglect
or misconduct, absent bad faith, gross negligence or willful misconduct (which bad faith, gross negligence or willful misconduct must be determined by a final, non-appealable judgment of a court of competent
jurisdiction) in the selection and continued employment thereof. 
 20.15    If, with respect to any Right Certificate
surrendered to the Rights Agent for exercise or transfer, the certificate attached to the form of assignment or form of election to purchase, as the case may be, has either not been properly completed or duly executed or indicates an affirmative
response to clause (1) or clause (2) thereof, the Rights Agent shall not take any further action with respect to such requested exercise or transfer without first consulting with the Company. The Company shall give the Rights Agent prompt
written instructions as to the action to be taken and the Rights Agent shall not be liable for actions it takes in accordance with such instructions. 

  
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	 	21.	 Change of Rights Agent 

The Rights Agent or any successor Rights Agent may resign and be discharged from its duties under this Agreement upon thirty
(30) days’ notice in writing mailed to the Company and to each transfer agent of the Ordinary Shares or Preferred Shares by first class mail and, following the Distribution Date, to the holders of the Right Certificates by first-class
mail. The Company may remove the Rights Agent or any successor Rights Agent (with or without cause) upon thirty (30) days’ notice in writing, mailed to the Rights Agent or successor Rights Agent, as the case may be, and to each transfer
agent of the Ordinary Shares and the Preferred Shares by registered or certified mail. If the Rights Agent shall resign or be removed or shall otherwise become incapable of acting, the Company shall appoint a successor to the Rights Agent. If the
Company shall fail to make such appointment within a period of thirty (30) days after giving notice of such removal or after it has been notified in writing of such resignation or incapacity by the resigning or incapacitated Rights Agent or by
the holder of a Right Certificate (who shall, with such notice, submit his Right Certificate for inspection by the Company), then the Company shall become the Rights Agent or the Registered Holder of any Right Certificate may apply, at the expense
of the Company, to any court of competent jurisdiction for the appointment of a new Rights Agent. Any successor Rights Agent, whether appointed by the Company or by such a court, shall be (a) a Person organized and doing business under the laws
of the United States or of any state thereof, which is authorized under such laws to exercise share transfer or corporate trust powers or conduct a shareholder services business and is subject to supervision or examination in the conduct of its
share transfer business by federal or state authority and which has at the time of its appointment as Rights Agent a combined capital and surplus of at least $100,000,000 or (b) an Affiliate of a Person described in clause (a) of this
sentence. After appointment, the successor Rights Agent shall be vested with the same powers, rights, duties and responsibilities as if it had been originally named as Rights Agent without further act or deed; but the predecessor Rights Agent, upon
payment of its charges hereunder, shall deliver and transfer to the successor Rights Agent any property at the time held by it hereunder, and execute and deliver any further assurance, conveyance, act or deed necessary for the purpose. Not later
than the effective date of any such appointment, the Company shall file notice thereof in writing with the predecessor Rights Agent and each transfer agent of the Ordinary Shares of the Company and the Preferred Shares, and, following the
Distribution Date, mail a notice thereof in writing to the Registered Holders of the Right Certificates. Failure to give any notice provided for in this Section 21, however, or any defect therein, shall not affect the legality or validity of
the resignation or removal of the Rights Agent or the appointment of the successor Rights Agent, as the case may be. Notwithstanding the foregoing provisions, in the event of resignation, removal or incapacity of the Rights Agent, the Company shall
have the authority to act as the Rights Agent until a successor Rights Agent shall have assumed the duties of the Rights Agent hereunder. 
  

	 	22.	 Issuance of New Right Certificates 

Notwithstanding any of the provisions of this Agreement or of the Rights, the Company may, at its option, issue new Right Certificates
evidencing Rights in such form as may be approved by its Board of Directors to reflect any adjustment or change in the Exercise Price per share and the number or kind or class of share capital or other securities or property purchasable under the
Right Certificates made in accordance with the provisions of this Agreement. In addition, in connection with the issuance or sale of Ordinary Shares of the Company following the Distribution Date and prior to the termination or expiration of the
Rights, the Company (a) shall, with respect to Ordinary Shares of the Company so issued or sold pursuant to the exercise of share options or under any employee plan or arrangement, or upon the exercise, conversion or exchange of securities
hereafter issued by the Company, in each case existing prior to the Distribution Date, and (b) may, in any other case, if deemed necessary or appropriate by the Board of Directors of the Company, with respect to Ordinary Shares of the Company
so issued or sold pursuant to a contractual obligation of the Company in each case existing prior to the Distribution Date, issue Right Certificates representing the appropriate number of Rights in connection with such issuance or sale; provided,
however, that (i) no such Right Certificate shall be issued if, and to the extent that, the Company is advised by counsel that such issuance would create a significant risk of material adverse tax consequences to the Company or the Person to
whom such Right Certificate would be issued, and (ii) no such Right Certificate shall be issued if, and to the extent that, appropriate adjustments have otherwise been made in lieu of the issuance thereof. 

  
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	 	23.    Termination	 

23.1    The Board of Directors of the Company may, at its option, terminate all but not less than all of the then
outstanding Rights. The Rights may be terminated only until the earlier to occur of (i) a Section 11.1.2 Event or (ii) the Final Expiration Date. The termination of the Rights may be made effective at such time, on such basis and with
such conditions as the Board of Directors of the Company in its sole discretion may establish. 
 23.2    Immediately
upon the action of the Board of Directors ordering the termination of the Rights or such later time as the Board of Directors of the Company may establish for the effectiveness of such termination, and without any further action and without any
notice, the right to exercise the Rights will terminate. The Company shall promptly give public notice of any such termination; provided, however, that the failure to give, or any defect in, any such notice shall not affect the validity of such
termination. Promptly after the action of the Board of Directors ordering the termination of the Rights or such later time as the Board of Directors of the Company may establish for the effectiveness of such termination, the Company shall give
written notice of such termination to the Rights Agent and the holders of the then outstanding Rights by mailing such notice to the Rights Agent and to all such holders at their last addresses as they appear upon the registry books of the Rights
Agent or, prior to the Distribution Date, on the registry books of the Transfer Agent for the Ordinary Shares of the Company. Any notice which is mailed in the manner herein provided shall be deemed given, whether or not the holder receives the
notice. Neither the Company nor any of its Affiliates or Associates may terminate, acquire or purchase for value any Rights at any time in any manner other than that specifically set forth in this Section 23 or Section 24 hereof or in
connection with the purchase of Ordinary Shares of the Company prior to the Distribution Date. 
  

	 	24.    Exchange	 

24.1    The Board of Directors of the Company may, at its option, at any time on or after the Distribution Date, exchange
all or part of the then outstanding and exercisable Rights (which shall not include Rights that have become null and void pursuant to the provisions of Section 7.5 hereof) for Ordinary Shares of the Company at an exchange ratio of one Ordinary
Share of the Company per Right, or a fractional Preferred Share (or other preferred share) equivalent in value thereto, appropriately adjusted to reflect any share split, share dividend or similar transaction occurring after the date hereof (such
exchange ratio being hereinafter referred to as the “Section 24.1 Exchange Ratio”). The Rights Agent shall be given written notice as soon as practicable of any such exchange and the Exchange Ratio pursuant to which such exchange is
effected and shall be deemed to have no knowledge thereof until it receives such notice. Notwithstanding the foregoing, the Board of Directors shall not be empowered to effect such exchange at any time after any Person (other than an Exempt Person),
together with all Affiliates and Associates of such Person, becomes the Beneficial Owner of 50% or more of the Ordinary Shares of the Company. From and after the occurrence of an event specified in Section 13.1 hereof, any Rights that
theretofore have not been exchanged pursuant to this Section 24.1 shall thereafter be exercisable only in accordance with Section 13.1 and may not be exchanged pursuant to this Section 24.1. The exchange of the Rights by the Board of
Directors of the Company may be made effective at such time, on such basis and with such conditions as the Board of Directors of the Company in its sole discretion may establish. Prior to effecting an exchange pursuant to this Section 24, the
Board of Directors of the Company may direct the Company to enter into a Trust Agreement in such form and with such terms as the Board of Directors of the Company shall then approve (the “Trust Agreement”). If the Board of Directors of the
Company so directs, the Company shall enter into the Trust Agreement and shall issue to the trust created by such agreement (the “Trust”) all of the Ordinary Shares issuable pursuant to the exchange, and all Persons entitled to receive
shares pursuant to the exchange shall be entitled to receive such shares (and any dividends or distributions made thereon after the date on which such shares are deposited in the Trust) only from the Trust and solely upon compliance with the
relevant terms and provisions of the Trust Agreement. 

  
 -38- 

 24.2    Immediately upon the effectiveness of the action of the Board of
Directors of the Company authorizing the exchange of any Rights pursuant to Section 24.1 and without any further action and without any notice, the right to exercise such Rights shall terminate and the only right thereafter of a holder of such
Rights shall be to receive that number of Ordinary Shares of the Company equal to the number of such Rights held by such holder multiplied by the Section 24.1 Exchange Ratio. The Company shall promptly give public notice of any such exchange,
and the Rights Agent shall be given prompt written notice of any such exchange (and until such written notice is received by the Rights Agent, the Rights Agent may assume conclusively that no such exchange has occurred); provided,
however, that the failure to give, or any defect in, such notice shall not affect the validity of such exchange. The Company promptly shall mail a notice of any such exchange to all of the holders of such Rights at their last addresses as
they appear upon the registry books of the Rights Agent. Any notice which is mailed in the manner herein provided shall be deemed given, whether or not the holder receives the notice. Each such notice of exchange will state the method by which the
exchange of the Ordinary Shares for Rights will be effected and, in the event of any partial exchange, the number of Rights which will be exchanged. Any partial exchange shall be effected pro rata based on the number of Rights (other than Rights
which have become null and void pursuant to the provisions of Section 7.5 hereof) held by each holder of Rights. 

24.3    In any exchange pursuant to this Section 24, the Company, at its option, may substitute Preferred Shares (or
Preferred Share Equivalent, as such term is defined in Section 11.2 hereof) for Ordinary Shares of the Company exchangeable for Rights, at the initial rate of one one-thousandth of a Preferred Share (or
Preferred Share Equivalent) for each Ordinary Share of the Company, as appropriately adjusted to reflect adjustments in the voting rights of the Preferred Share pursuant to the terms thereof, so that the fraction of a Preferred Share delivered in
lieu of each Ordinary Share of the Company shall have the same voting rights as one Ordinary Share of the Company. 

24.4    In the event that there are not sufficient Ordinary Shares of the Company or Preferred Shares (or Preferred Share
Equivalent) issued but not outstanding or authorized but unissued to permit any exchange of Rights as contemplated in accordance with this Section 24, the Company shall take all such action as may be necessary to authorize additional Ordinary
Shares of the Company or Preferred Shares (or Preferred Share Equivalent) for issuance upon exchange of the Rights. 

  
 -39- 

 24.5    The Company shall not be required to issue fractions of Ordinary
Shares of the Company or to distribute certificates which evidence fractional Ordinary Shares of the Company. If the Company elects not to issue such fractional Ordinary Shares of the Company, the Company shall pay, in lieu of such fractional
Ordinary Shares of the Company, to the Registered Holders of the Right Certificates with regard to which such fractional Ordinary Shares of the Company would otherwise be issuable, an amount in cash equal to the same fraction of the Fair Market
Value of a whole Ordinary Share of the Company. For the purposes of this Section 24.5, the Fair Market Value of a whole Ordinary Share of the Company shall be the closing price of an Ordinary Share of the Company (as determined pursuant to the
second sentence of Section 11.4.1 hereof) for the Trading Day immediately prior to the date of exchange pursuant to this Section 24. 
  

	 	25.	 Notice of Certain Events 

25.1    In case the Company proposes, at any time after the earlier of the Distribution Date or the Share Acquisition Date,
to (a) pay any dividend payable in share of any class to the holders of Preferred Shares or to make any other distribution to the holders of Preferred Shares (other than a regular periodic cash dividend), (b) offer to the holders of Preferred
Shares rights or warrants to subscribe for or to purchase any additional Preferred Shares or shares of any other class or any other securities, rights or options, (c) effect any reclassification of its Preferred Shares (other than a
reclassification involving only the subdivision or combination of outstanding Preferred Shares), (d) effect any consolidation or merger into or with, or to effect any sale, mortgage or other transfer (or to permit one or more of its Subsidiaries to
effect any sale, mortgage or other transfer), in one transaction or a series of related transactions, of 50% or more of the assets or earning power of the Company and its Subsidiaries (taken as a whole) to, any other Person (other than a Subsidiary
of the Company in one or more transactions each of which is not prohibited by the proviso at the end of the first sentence of Section 11.14 hereof), (e) effect the liquidation, dissolution or winding up of the Company, or (f) pay any
dividend on the Ordinary Shares of the Company payable in Ordinary Shares of the Company or to effect a subdivision, combination or consolidation of the Ordinary Shares of the Company (by reclassification or otherwise than by payment of dividends in
Ordinary Shares of the Company) then in each such case, the Company shall give to each holder of a Right Certificate and to the Rights Agent (the Rights Agent shall be deemed to have no knowledge of such event until such written notice is received),
in accordance with Section 26 hereof, a notice of such proposed action, which shall specify the record date for the purposes of such share dividend, distribution of rights or warrants, or the date on which such reclassification, consolidation,
merger, sale, transfer, liquidation, dissolution, or winding up is to take place and the date of participation therein by the holders of the Ordinary Shares of the Company and/or Preferred Shares, if any such date is to be fixed, and such notice
shall be so given in the case of any action covered by clause (a) or (b) above at least twenty (20) days prior to the record date for determining holders of the Preferred Shares for purposes of such action, and in the case of any such
other action, at least twenty (20) days prior to the date of the taking of such proposed action or the date of participation therein by the holders of the Ordinary Shares of the Company and/or Preferred Shares, whichever is earlier; provided,
however, no such notice shall be required pursuant to this Section 25 as a result of any Subsidiary of the Company effecting a consolidation or merger with or into, or effecting a sale or other transfer of assets or earnings power to, any other
Subsidiary of the Company in a manner not inconsistent with the provisions of this Agreement. The failure to give notice required by this Section 25.1 or any defect therein shall not affect the legality or validity of the action taken by the
Company or the vote upon any such action. 

  
 -40- 

 25.2    In case any Section 11.1.2 Event shall occur, then, in any
such case, the Company shall as soon as practicable thereafter give to each Registered Holder of a Right Certificate and to the Rights Agent (the Rights Agent shall be deemed to have no knowledge of such event until such written notice is received),
in accordance with Section 26 hereof, a notice of the occurrence of such event, which shall specify the event and the consequences of the event to holders of Rights under Section 11.1.2 hereof. 

 

	 	26.	 Notices 

Notices or demands authorized by this Agreement to be given or made by the Rights Agent or by the holder of any Right Certificate to or on the
Company shall be sufficiently given or made if in writing and sent by fax to the numbers set for below or by internationally recognized express courier addressed (until another address is filed in writing with the Rights Agent) as follows: 

Sohu.com Limited 
 Sohu.com
Media Plaza 
 Block 3 

No. 2 Kexueyuan South Road 

Haidian District 
 Beijing
100190, People’s Republic of China 
 Attention: Chief Financial Officer 

Email: joannalu@sohu-inc.com 

with a copy to: 

Goulston & Storrs PC 

400 Atlantic Avenue 
 Boston,
Massachusetts 02110 
 Attn: Timothy B. Bancroft, Esq. 

Email: tbancroft@goulstonstorrs.com 

Subject to the provisions of Section 21, any notice or demand authorized by this Agreement to be given or made by the Company or by the
holder of any Right Certificate to or on the Rights Agent shall be sufficiently given or made if in writing and sent by first-class mail, postage prepaid, by facsimile transmission or by nationally-recognized overnight courier addressed (until
another address is filed in writing with the Company) as follows: 
 The Bank of New York Mellon 

240 Greenwich Street, 22 West 

BNY Mellon Depositary Receipts 

New York, New York 10286 

Attention: Sohu RM Team 

                 Global Client Solutions 

  
 -41- 

 Notices or demands authorized by this Agreement to be given or made by the Company or the
Rights Agent to the holder of any Right Certificate shall be sufficiently given or made if in writing and sent by first-class mail, postage prepaid, addressed to such holder at the address of such holder as shown on the registry books of the
Company. 
  

	 	27.	 Supplements and Amendments 

For so long as the Rights are then terminable, the Company may in its sole and absolute discretion, and the Rights Agent shall, if the Company
so directs, supplement or amend any provision of this Agreement as the Company may deem necessary or desirable without the approval of any holders of Rights. At any time when the Rights are no longer terminable, except as provided in the penultimate
sentence of this Section 27, the Company may, and the Rights Agent shall, if the Company so directs, supplement or amend this Agreement without the approval of any holders of Rights, provided that no such supplement or amendment may
(a) adversely affect the interests of the holders of Rights as such (other than an Acquiring Person or an Affiliate or Associate of an Acquiring Person), (b) cause this Agreement again to become amendable other than in accordance with this
sentence or (c) cause the Rights again to become terminable. Upon the delivery of a certificate from an appropriate officer of the Company which states that the supplement or amendment is in compliance with the terms of this Section 27,
the Rights Agent shall execute such supplement or amendment, provided that any supplement or amendment that does not amend Sections 18, 19, 20 or 21 hereof or this Section 27 in a manner adverse to the Rights Agent shall become effective
immediately upon execution by the Company, whether or not also executed by the Rights Agent. 
  

	 	28.    Successors	 

All of the covenants and provisions of this Agreement by or for the benefit of the Company or the Rights Agent shall bind and inure to the
benefit of their respective successors and assigns hereunder. 
  

	 	29.	 Determinations and Actions by the Board of Directors 

For all purposes of this Agreement, any calculation of the number of Ordinary Shares of the Company outstanding at any particular time,
including for purposes of determining the particular percentage of such outstanding Ordinary Shares of the Company of which any Person is the Beneficial Owner, shall be made in accordance with the last sentence of Rule
13d-3(d)(1)(i) of the Rules under the Exchange Act as in effect on the date hereof. The Board of Directors of the Company shall have the exclusive power and authority to administer this Agreement and to
exercise all rights and powers specifically granted to the Board of Directors or to the Company, or as may be necessary or advisable in the administration of this Agreement, including without limitation, the right and power to (a) interpret the
provisions of this Agreement and (b) make all determinations deemed necessary or advisable for the administration of this Agreement (including a determination to terminate or not terminate the Rights or to amend the Agreement). All such
actions, calculations, interpretations and determinations (including, for purposes of clause (ii) below, all omissions with respect to the foregoing) which are done or made by the Board of Directors in good faith shall be final, conclusive and
binding on the Company, the Rights Agent, the holders of the Rights and all other parties. Notwithstanding any provision or language of this Agreement that might be construed to suggest the contrary, for all purposes of this Agreement, (a) the
Rights Agent is entitled always to assume that the Board of Directors of the Company acted in good faith and shall be fully protected and incur no liability in reliance thereon and (b) all determinations made by the Board of Directors in
accordance with this Agreement shall be binding on the Rights Agent. 

  
 -42- 

	 	30.	 Benefits of this Agreement 

Nothing in this Agreement shall be construed to give to any Person other than the Company, the Rights Agent and the Registered Holders of the
Right Certificates (and, prior to the Distribution Date, the Ordinary Shares of the Company) any legal or equitable right, remedy or claim under this Agreement; but this Agreement shall be for the sole and exclusive benefit of the Company, the
Rights Agent and the Registered Holders of the Right Certificates (and, prior to the Distribution Date, Registered Holders of the Ordinary Shares of the Company). 
  

	 	31.    Severability	 

If any term, provision, covenant or restriction of this Agreement is held by a court of competent jurisdiction or other authority to be
invalid, void or unenforceable, the remainder of the terms, provisions, covenants and restrictions of this Agreement shall remain in full force and effect and shall in no way be affected, impaired or invalidated; provided, that if any such excluded
term, provision, covenant or restriction shall adversely affect the rights, immunities, duties or obligations of the Rights Agent, notwithstanding any provision or language of this Agreement that might be construed to suggest the contrary, the
Rights Agent shall be entitled to resign immediately. 
  

	 	32.	 Governing Law; Jurisdiction; Jury Trial Waiver 

This Agreement, each Right and each Right Certificate issued hereunder shall be deemed to be a contract made under the laws of the State of New
York, U.S.A. and for all purposes shall be governed by and construed and enforced in accordance with the laws of such state applicable to contracts to be made and to be performed entirely within such state. Notwithstanding anything contained herein,
the rights of holders of Ordinary Shares, the Preferred Shares or Preferred Share Equivalents, as such, and the obligations and duties of the Company in respect of the holders of Ordinary Shares, the Preferred Shares, and Preferred Share
Equivalents, as such, shall be governed by the laws of the Cayman Islands (or, if applicable, such other laws as may govern such Ordinary Shares, the Preferred Shares, or Preferred Share Equivalents) and if and to the extent that the laws of the
Cayman Islands apply to the holders of Rights, the holders shall be entitled to enforce this Agreement pursuant to the Cayman Islands Contracts (Rights of Third Parties) Law. All actions and proceedings brought by or against the Rights Agent
relating to or arising from, directly or indirectly, this Agreement may be litigated in any state or federal court in the State of New York and the Company hereby submits to the personal jurisdiction of such courts and consents that any service of
process may be made by certified or registered mail, return receipt requested, directed to the Company at its address last specified for notices hereunder. EACH OF THE PARTIES HERETO HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW,
THE RIGHT TO A TRIAL BY JURY IN ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT. 

  
 -43- 

	 	33.	 Counterparts 

This Agreement may be executed in any number of counterparts and each of such counterparts shall for all purposes be deemed to be an original,
and all such counterparts shall together constitute but one and the same instrument. 
  

	 	34.	 Descriptive Headings 

Descriptive headings of the several Sections of this Agreement are inserted for convenience only and shall not control or affect the meaning or
construction of any of the provisions hereof. 
  

	 	35.	 Force Majeure 

Notwithstanding any provision or language of this Agreement that might be construed to suggest the contrary, the Rights Agent shall not incur
any liability for not performing, or a delay in the performance of, any act, duty, obligation or responsibility by reason of any occurrence beyond the reasonable control of the Rights Agent (including, without limitation, acts of God, terrorist
acts, shortage of supply, breakdowns or malfunctions, interruptions or malfunctions or computer facilities, or loss of data due to power failures or mechanical difficulties with information storage or retrieval systems, labor difficulties, war or
civil unrest). 
  

	 	36.	 Miscellaneous 

The Company acknowledges that the Rights Agent is subject to the customer identification program (“Customer Identification Program”)
requirements under the USA PATRIOT Act and its implementing regulations, and that the Rights Agent must obtain, verify and record information that allows the Rights Agent to identify the Company. Accordingly, prior to accepting an appointment
hereunder, the Rights Agent may request information from the Company that will help the Rights Agent to identify the Company, including without limitation the Company’s physical address, tax identification number, organizational documents,
certificate of good standing, license to do business, or any other information that the Rights Agent deems necessary. The Company agrees that the Rights Agent cannot accept an appointment hereunder unless and until the Rights Agent verifies the
Company’s identity in accordance with the Customer Identification Program requirements. 
 [SIGNATURE PAGE FOLLOWS] 

  
 -44- 

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

			
	SOHU.COM LIMITED

			
		
	By:	 	  

	Name:	 	
	Title:	 	

			
	
	THE BANK OF NEW YORK MELLON, as Rights Agent

			
		
	By:	 	  

	Name:	 	
	Title:	 	

  
 -45- 

 EXHIBIT A 

FORM OF 
 CERTIFICATE OF
DESIGNATION 
 OF 

SERIES A JUNIOR PARTICIPATING CUMULATIVE PREFERRED SHARES 

OF 
 SOHU.COM LIMITED

  
 Exhibit A - Page 1 

 DESIGNATIONS, POWERS, PREFERENCES, AND RELATIVE, PARTICIPATING, OPTIONAL OR OTHER SPECIAL
RIGHTS, AND THE QUALIFICATIONS, LIMITATIONS OR RESTRICTIONS THEREOF, 
 OF 

SERIES A JUNIOR PARTICIPATING CUMULATIVE PREFERRED SHARES 

OF 
 SOHU.COM LIMITED

 Section 1. Designation and Amount. The shares of such series shall be designated as “Series A Junior
Participating Cumulative Preferred Shares,” $.001 par value, (hereinafter called “Series A Preferred Shares”), and the number of shares initially constituting such series shall be 200,000. Such number of shares may be increased or
decreased by resolution of the Board of Directors; provided, however, that no decrease shall reduce the number of Series A Preferred Shares to a number less than that of the shares then outstanding plus the number of Series A Preferred Shares
issuable upon exercise of outstanding rights, options or warrants or upon conversion of outstanding securities issued by the Company. 

Section 2. Dividends and Distributions. 

(A) (i) Subject to the rights of the holders of any shares of any class or series of share capital ranking prior and superior to the
Series A Preferred Shares with respect to dividends, the holders of Series A Preferred Shares, in preference to the holders of ordinary shares, par value $0.001 per share, of the Company (the “Ordinary Shares”) and of any other class or
series of share ranking junior to the Series A Preferred Shares, shall be entitled to receive, when, as and if declared by the Board of Directors out of funds legally available for the purpose, quarterly dividends payable in cash on the first day of
March, June, September and December in each year (each such date being referred to herein as a “Quarterly Dividend Payment Date”), commencing on the first Quarterly Dividend Payment Date after the first issuance of a share or fraction of a
Series A Preferred Share, in an amount per share (rounded to the nearest cent) equal to the greater of (a) $1.00 or (b) subject to the provisions for adjustment hereinafter set forth, 1,000 times the aggregate per share amount of all cash
dividends, and 1,000 times the aggregate per share amount (payable in kind) of all non-cash dividends or other distributions other than a dividend payable in Ordinary Shares or a subdivision of the outstanding
Ordinary Shares (by reclassification or otherwise), declared on the Ordinary Shares since the immediately preceding Quarterly Dividend Payment Date, or, with respect to the first Quarterly Dividend Payment Date, since the first issuance of any share
or fraction of a Series A Preferred Share. The multiple of cash and non-cash dividends declared on the Ordinary Shares to which holders of the Series A Preferred Shares are entitled, which shall be 1,000
initially but which shall be adjusted from time to time as hereinafter provided, is hereinafter referred to as the “Dividend Multiple.” In the event the Company at any time after January 14, 2019 (the “Rights Declaration Date”)
(i) declares and pays any dividend on the Ordinary Shares payable in Ordinary Shares, or (ii) effects a subdivision or combination or consolidation of the outstanding Ordinary Shares (by reclassification or otherwise than by payment of a
dividend in Ordinary Shares) into a greater or lesser number of Ordinary Shares, then in each such case the Dividend Multiple thereafter applicable to the determination of the amount of dividends which holders of Series A Preferred Shares shall be
entitled to receive shall be the Dividend Multiple applicable immediately prior to such event multiplied by a fraction, the numerator of which is the number of Ordinary Shares outstanding immediately after such event and the denominator of which is
the number of Ordinary Shares that were outstanding immediately prior to such event. 

  
 Exhibit A - Page 2 

 (ii) Notwithstanding anything else contained in this paragraph (A), the Company shall, out
of funds legally available for that purpose, declare a dividend or distribution on the Series A Preferred Shares as provided in this paragraph (A) immediately after it declares a dividend or distribution on the Ordinary Shares (other than a
dividend payable in Ordinary Shares); provided that, in the event no dividend or distribution has been declared on the Ordinary Shares during the period between any Quarterly Dividend Payment Date and the next subsequent Quarterly Dividend Payment
Date, a dividend of $1.00 per share on the Series A Preferred Shares shall nevertheless be payable on such subsequent Quarterly Dividend Payment Date. 

(B) Dividends shall begin to accrue and be cumulative on outstanding Series A Preferred Shares from the Quarterly Dividend Payment Date next
preceding the date of issue of such Series A Preferred Shares, unless the date of issue of such shares is prior to the record date for the first Quarterly Dividend Payment Date, in which case dividends on such shares shall begin to accrue from the
date of issue of such shares, or unless the date of issue is a Quarterly Dividend Payment Date or is a date after the record date for the determination of holders of Series A Preferred Shares entitled to receive a quarterly dividend and before such
Quarterly Dividend Payment Date, in either of which events such dividends shall begin to accrue and be cumulative from such Quarterly Dividend Payment Date. Accrued but unpaid dividends shall not bear interest. Dividends paid on the Series A
Preferred Shares in an amount less than the total amount of such dividends at the time accrued and payable on such shares shall be allocated pro rata on a share-by-share
basis among all such shares at the time outstanding. The Board of Directors may fix in accordance with applicable law a record date for the determination of holders of Series A Preferred Shares entitled to receive payment of a dividend or
distribution declared thereon, which record date shall be not more than such number of days prior to the date fixed for the payment thereof as may be allowed by applicable law. 

Section 3. Voting Rights. In addition to any other voting rights required by law, the holders of Series A Preferred
Shares shall have the following voting rights: 
 (A) Subject to the provision for adjustment hereinafter set forth, each Series A Preferred
Share shall entitle the holder thereof to 1,000 votes on all matters submitted to a vote of the shareholders of the Company. The number of votes which a holder of a Series A Preferred Share is entitled to cast, which shall initially be 1,000 but
which may be adjusted from time to time as hereinafter provided, is hereinafter referred to as the “Vote Multiple.” In the event the Company at any time after the Rights Declaration Date (i) declares or pay any dividend on Ordinary
Shares payable in Ordinary Shares, or (ii) effects a subdivision or combination or consolidation of the outstanding Ordinary Shares (by reclassification or otherwise than by payment of a dividend in Ordinary Shares) into a greater or lesser
number of Ordinary Shares, then in each such case the Vote Multiple thereafter applicable to the determination of the number of votes per share to which holders of Series A Preferred Shares are entitled shall be the Vote Multiple immediately prior
to such event multiplied by a fraction, the numerator of which is the number of Ordinary Shares outstanding immediately after such event and the denominator of which is the number of Ordinary Shares that were outstanding immediately prior to such
event. 

  
 Exhibit A - Page 3 

 (B) Except as otherwise provided herein or by law, the holders of Series A Preferred Shares
and the holders of Ordinary Shares and the holders of any other share capital of this Company having general voting rights, shall vote together as one class on all matters submitted to a vote of shareholders of the Company. 

(C) Except as otherwise required by applicable law or as set forth herein, holders of Series A Preferred Shares shall have no special voting
rights and their consent shall not be required (except to the extent they are entitled to vote with holders of Ordinary Shares as set forth herein) for taking any corporate action. 

Section 4. Certain Restrictions. 

(A) Whenever dividends or distributions payable on the Series A Preferred Shares as provided in Section 2 are in arrears, thereafter and
until all accrued and unpaid dividends and distributions, whether or not declared, on Series A Preferred Shares outstanding have been paid in full, the Company shall not: (i) declare or pay dividends on, make any other distributions on, or
redeem or purchase or otherwise acquire for consideration any share capital ranking junior (either as to dividends or upon liquidation, dissolution or winding up) to the Series A Preferred Shares other than (I) such redemptions or purchases
that may be deemed to occur upon the exercise of share options, warrants or similar rights or grant, vesting or lapse of restrictions on the grant of any other performance shares, restricted share, restricted share units or other equity awards to
the extent that such shares represent all or a portion of (x) the exercise or purchase price of such options, warrants or similar rights or other equity awards and (y) the amount of withholding taxes owed by the recipient of such award in
respect of such grant, exercise, vesting or lapse or restrictions and (II) the repurchase, redemption, or other acquisition or retirement for value of any such shares from employees, former employees, directors, former directors, consultants or
former consultants of the Company or their respective estate, spouse, former spouse or family member, pursuant to the terms of the agreements pursuant to which such shares were acquired; (ii) declare or pay dividends on or make any other
distributions on any share capital ranking on a parity (either as to dividends or upon liquidation, dissolution or winding up) with the Series A Preferred Shares, except dividends paid ratably on the Series A Preferred Shares and all such parity
share on which dividends are payable or in arrears in proportion to the total amounts to which the holders of all such shares are then entitled; (iii) except as permitted in subsection 4(A)(iv) below, redeem, purchase or otherwise acquire for
consideration any share capital ranking on a parity (either as to dividends or upon liquidation, dissolution or winding up) with the Series A Preferred Shares, provided that the Company may at any time redeem, purchase or otherwise acquire any such
parity share in exchange for any share capital of the Company ranking junior (either as to dividends or upon dissolution, liquidation or winding up) to the Series A Preferred Shares; or (iv) purchase or otherwise acquire for consideration any
Series A Preferred Shares, or any share capital ranking on a parity (either as to dividends or upon liquidation, dissolution or winding up) with the Series A Preferred Shares, except in accordance with a purchase offer made in writing or by
publication (as determined by the Board of Directors) to all holders of such shares upon such terms as the Board of Directors, after consideration of the respective annual dividend rates and other relative rights and preferences of the respective
series and classes, shall determine in good faith will result in fair and equitable treatment among the respective series or classes. 

  
 Exhibit A - Page 4 

 (B) The Company shall not permit any subsidiary of the Company to purchase or otherwise
acquire for consideration any share capital of the Company unless the Company could, under subsection (A) of this Section 4, purchase or otherwise acquire such shares at such time and in such manner. 

Section 5. Reacquired Shares. Any Series A Preferred Shares purchased or otherwise acquired by the Company in any
manner whatsoever shall be cancelled. Any Series A Preferred Shares so cancelled shall not reduce the authorized share capital of the Company and may be reissued as part of a new series of preferred shares to be created by resolution or resolutions
of the Board of Directors, subject to the conditions and restrictions on issuance set forth herein. 
 Section 6.
Liquidation, Dissolution or Winding Up. Upon any liquidation (voluntary or otherwise), dissolution or winding up of the Company, no distribution shall be made (a) to the holders of share capital ranking junior (either as to dividends or
upon liquidation, dissolution or winding up) to the Series A Preferred Shares unless, prior thereto, the holders of Series A Preferred Shares have received an amount equal to accrued and unpaid dividends and distributions thereon, whether or not
declared, to the date of such payment, plus an amount equal to the greater of (1) $1,000.00 per share or (2) an aggregate amount per share, subject to the provision for adjustment hereinafter set forth, equal to 1,000 times the aggregate amount
to be distributed per share to holders of Ordinary Shares, or (b) to the holders of share ranking on a parity (either as to dividends or upon liquidation, dissolution or winding up) with the Series A Preferred Shares, except distributions made
ratably on the Series A Preferred Shares and all other such parity share in proportion to the total amounts to which the holders of all such shares are entitled upon such liquidation, dissolution or winding up. In the event the Company at any time
after the Rights Declaration Date (i) declares or pays any dividend on Ordinary Shares payable in Ordinary Shares, or (ii) effects a subdivision or combination or consolidation of the outstanding Ordinary Shares (by reclassification or
otherwise than by payment of a dividend in Ordinary Shares) into a greater or lesser number of Ordinary Shares, then in each such case the aggregate amount per share to which holders of Series A Preferred Shares were entitled immediately prior to
such event under clause (a) of this paragraph shall be adjusted by multiplying such amount by a fraction, the numerator of which is the number of Ordinary Shares outstanding immediately after such event and the denominator of which is the
number of Ordinary Shares that were outstanding immediately prior to such event. 
 In the event, however, that there are not sufficient
assets available to permit payment in full of the liquidation preference provided for above and the liquidation preferences of all other classes and series of share of the Company, if any, that rank on a parity with the Series A Preferred Shares in
respect thereof, then the assets available for such distribution shall be distributed ratably to the holders of the Series A Preferred Shares and the holders of such parity shares in proportion to their respective liquidation preferences. 

  
 Exhibit A - Page 5 

 Neither the consolidation of nor merging of the Company with or into any other corporation
or corporations, nor the sale or other transfer of all or substantially all of the assets of the Company, shall be deemed to be a liquidation, dissolution or winding up of the Company within the meaning of this Section 6. 

Section 7. Consolidation, Merger, etc. In case the Company enters into any consolidation, merger, combination or
other transaction in which the outstanding Ordinary Shares are cancelled or exchanged for or changed into other shares or securities, cash and/or any other property, then in any such case the Series A Preferred Shares shall at the same time be
similarly cancelled or exchanged for or changed in an amount per share (subject to the provision for adjustment hereinafter set forth) equal to 1,000 times the aggregate amount of shares, securities, cash and/or any other property (payable in kind),
as the case may be, into which or for which each Ordinary Share is cancelled or changed or exchanged, plus accrued and unpaid dividends, if any, payable with respect to the Series A Preferred Shares. In the event the Company at any time after the
Rights Declaration Date (i) declares or pays any dividend on Ordinary Shares payable in Ordinary Shares, or (ii) effects a subdivision or combination or consolidation of the outstanding Ordinary Shares (by reclassification or otherwise
than by payment of a dividend in Ordinary Shares) into a greater or lesser number of Ordinary Shares, then in each such case the amount set forth in the preceding sentence with respect to the exchange or change of Series A Preferred Shares shall be
adjusted by multiplying such amount by a fraction, the numerator of which is the number of Ordinary Shares outstanding immediately after such event and the denominator of which is the number of Ordinary Shares that were outstanding immediately prior
to such event. 
 Section 8. Redemption. The Series A Preferred Shares shall not be redeemable; provided, however,
that the foregoing shall not limit the ability of the Company to purchase or otherwise deal in such shares to the extent otherwise permitted hereby and by law. 

Section 9. Ranking. Unless otherwise provided in the Memorandum of Association and Articles of Association of the
Company, as in effect from time to time, or in the rights attached to a subsequently-designated series of preferred shares of the Company, the Series A Preferred Shares shall rank junior to any other series of the Company’s preferred shares
subsequently issued, as to the payment of dividends and the distribution of assets on liquidation, dissolution or winding up and shall rank senior to the Ordinary Shares. 

Section 10. Amendment. The Memorandum of Association and the Articles of Association of the Company, as in effect
from time to time, and this Certificate of Designation may not be amended in any manner that would materially alter or change the powers, preferences or special rights of the Series A Preferred Shares so as to affect them adversely without the
affirmative vote of the holders of two-thirds or more of the outstanding Series A Preferred Shares, voting separately as a class. 

Section 11. Fractional Shares. Series A Preferred Shares may be issued in whole shares or in any fraction of a share
that is one one-thousandth (1/1,000) of a share or any integral multiple of such fraction, which shall entitle the holder, in proportion to such holder’s fractional shares, to exercise voting rights,
receive dividends, participate in distributions and to have the benefit of all other rights of holders of Series A Preferred Shares. In lieu of fractional shares, the Company may elect to make a cash payment as provided in the Rights Agreement for
fractions of a share other than one one-thousandth (1/1,000) of a share or any integral multiple thereof. 

  
 Exhibit A - Page 6 

 EXHIBIT B 

FORM OF RIGHT CERTIFICATE 
  

					
	 Certificate No.
R-            
	 		  	[Number] Rights

 NOT EXERCISABLE AFTER JANUARY 13, 2029 OR EARLIER IF NOTICE OF TERMINATION IS GIVEN. THE RIGHTS ARE SUBJECT TO
TERMINATION, AT THE OPTION OF SOHU.COM LIMITED, ON THE TERMS SET FORTH IN THE SHAREHOLDER RIGHTS AGREEMENT BETWEEN SOHU.COM LIMITED AND THE BANK OF NEW YORK MELLON, AS RIGHTS AGENT, DATED AS OF JANUARY 14, 2019 (THE “RIGHTS AGREEMENT”).
UNDER CERTAIN CIRCUMSTANCES SPECIFIED IN SECTION 7.5 OF THE RIGHTS AGREEMENT, RIGHTS BENEFICIALLY OWNED BY AN ACQUIRING PERSON OR AN ASSOCIATE OR AFFILIATE OF AN ACQUIRING PERSON (AS SUCH TERMS ARE DEFINED IN THE RIGHTS AGREEMENT) AND ANY SUBSEQUENT
HOLDER OF SUCH RIGHTS MAY BECOME NULL AND VOID AND WILL NO LONGER BE TRANSFERABLE. 
 SOHU.COM LIMITED 

RIGHT CERTIFICATE 
 This certifies
that                                 , or registered assigns, is the registered
owner of the number of Rights set forth above, each of which entitles the owner thereof, subject to the terms, provisions and conditions of the Shareholder Rights Agreement dated as of January 14, 2019 (as amended from time to time, the “Rights
Agreement”) between SOHU.COM LIMITED (the “Company”) and The Bank of New York Mellon, a New York banking corporation, as Rights Agent (the “Rights Agent”), to purchase from the Company at any time after the Distribution Date
(as such term is defined in the Rights Agreement) and prior to the close of business on January 13, 2029 at the office or offices of the Rights Agent designated for such purpose, or its successors as Rights Agent, one one-thousandth of a fully paid, non-assessable share of Series A Junior Participating Cumulative Preferred Shares (the “Preferred Shares”) of the Company, at a
purchase price of $200 per one one-thousandth of a share (the “Exercise Price”), upon presentation and surrender of this Right Certificate with the Form of Election to Purchase and the related
Certification properly completed and duly executed, accompanied by a signature guarantee and such other documents as the Rights Agent may require. The number of Rights evidenced by this Right Certificate (and the number of one one-thousandths of a Preferred Share which may be purchased upon exercise thereof) set forth above, and the Exercise Price per share set forth above, are the number and Exercise Price as of January 14, 2019
based on the Preferred Shares as constituted at such date. 
 Upon the occurrence of a Section 11.1.2 Event (as such term is
defined in the Rights Agreement), if the Rights evidenced by this Right Certificate are beneficially owned by (a) an Acquiring Person, or an Affiliate or Associate of any such Person (as such terms are defined in the Rights Agreement), (b) a
transferee of any such Acquiring Person or an Associate or Affiliate of any such Acquiring Person or (c) under certain circumstances specified in the Rights Agreement, a transferee of a Person who, after such transfer, became an Acquiring
Person or an Affiliate or Associate of an Acquiring Person, such Rights shall become null and void and no holder hereof shall have any right with respect to such Rights from and after the occurrence of such Section 11.1.2 Event. 

  
 Exhibit B - Page 1 

 As provided in the Rights Agreement, the Exercise Price and the number of one one-thousandth of a Preferred Share or other securities which may be purchased upon the exercise of the Rights evidenced by this Right Certificate are subject to modification and adjustment upon the happening of
certain events. 
 This Right Certificate is subject to all of the terms, provisions and conditions of the Rights Agreement, which terms,
provisions and conditions are hereby incorporated herein by reference and made a part hereof and to which Rights Agreement reference is hereby made for a full description of the rights, limitations of rights, obligations, duties and immunities
hereunder of the Rights Agent, the Company and the holders of the Right Certificates, which limitations of rights include the temporary suspension of the exercisability of such Rights under the specific circumstances set forth in the Rights
Agreement. Copies of the Rights Agreement are on file at the principal office of the Company and are available upon written request to the Company. 

This Right Certificate, with or without other Right Certificates, upon surrender at the office or offices of the Rights Agent designated for
such purpose, may be exchanged for another Right Certificate or Certificates of like tenor and date evidencing Rights entitling the holder to purchase a like aggregate number of Preferred Shares as the Rights evidenced by the Right Certificate or
Certificates surrendered had entitled such holder to purchase. If this Right Certificate is exercised in part, the holder shall be entitled to receive upon surrender hereof another Right Certificate or Certificates for the number of whole Rights not
exercised. If this Right Certificate is exercised in whole or in part pursuant to Section 11.1.2 of the Rights Agreement, the holder shall be entitled to receive this Right Certificate duly marked to indicate that such exercise has occurred as
set forth in the Rights Agreement. 
 Under certain circumstances, subject to the provisions of the Rights Agreement, the Board of Directors
of the Company at its option may exchange all or any part of the Rights evidenced by this Right Certificate for shares of the Company’s Ordinary Shares or Preferred Shares at an exchange ratio (subject to adjustment) of one Ordinary Share or
one one-thousandth of a Preferred Share per Right. 
 Subject to the provisions of the Rights
Agreement, the Rights evidenced by this Right Certificate may be terminated by the Board of Directors of the Company at its option. 
 The
Company is not obligated to issue fractional shares of share upon the exercise of any Right or Rights evidenced hereby (other than fractions which are integral multiples of one one-thousandth of a Preferred
Share, which may, at the election of the Company, be evidenced by depositary receipts). If the Company elects not to issue such fractional shares, in lieu thereof a cash payment will be made, as provided in the Rights Agreement. 

  
 Exhibit B - Page 2 

 No holder of this Right Certificate, as such, shall be entitled to vote or receive dividends
or be deemed for any purpose the holder of Preferred Shares, Ordinary Shares or any other securities of the Company which may at any time be issuable on the exercise hereof, nor shall anything contained in the Rights Agreement or herein be construed
to confer upon the holder hereof, as such, any of the rights of a shareholder of the Company or any right to vote for the election of directors or upon any matter submitted to shareholders at any meeting thereof, or to give or withhold consent to
any corporate action, or to receive notice of meetings or other actions affecting shareholders (except as provided in the Rights Agreement), or to receive dividends or subscription rights, or otherwise, until the Right or Rights evidenced by this
Right Certificate have been exercised as provided in the Rights Agreement. 
 This Right Certificate shall not be valid or obligatory for
any purpose until it has been countersigned by an authorized signatory of the Rights Agent. 

  
 Exhibit B - Page 3 

 WITNESS the facsimile signature of the proper officers of the Company and its corporate
seal. 
 Corporate Seal 
  

							
	SOHU.COM LIMITED	 	        COUNTERSIGNED:

									
			
	By:	 	  
	 	 	THE BANK OF NEW YORK MELLON
	Name:	 		 				 	
	Title:	 		 				 	
		 		 	 	By:	 	 	  

	Attest:	 		 				 	Authorized Signatory
		 		 				 	Date of countersignature:                    
	  
	 				 	
	Name:	 		 				 	
	Title:	 		 				 	

  
 Exhibit B - Page 4 

 Form of Reverse Side of Right Certificate 

FORM OF ASSIGNMENT 
 (To be executed by the
Registered Holder if such 
 holder desires to transfer the Right Certificate.) 

FOR VALUE RECEIVED
                                        
hereby sells, assigns and transfers unto (Please print name and address of transferee) the Rights evidenced by this Right Certificate, together with all right, title and interest therein, and does hereby irrevocably constitute and appoint
                                         
                    as Attorney, to transfer the within Rights on the books of the within-named Company, with full power of substitution. 

Dated: 

Signature:                        
                             

Printed
name:                                        
       
 Signatures must be guaranteed by a participant in a Medallion Signature Guarantee Program at a
guarantee level acceptable to the Company’s Rights Agent. 
 Signature Guaranteed: 

  
 Exhibit B - Page 5 

 CERTIFICATION 

The undersigned hereby certifies by checking the appropriate boxes that: 

(1)    the Rights evidenced by this Right Certificate      are     
are not being transferred by or on behalf of a Person who is or was an Acquiring Person or an Affiliate or Associate of any such Person (as such terms are defined in the Rights Agreement); and 

(2)    after due inquiry and to the best knowledge of the undersigned, the undersigned      did
     did not directly or indirectly acquire the Rights evidenced by this Right Certificate from any Person who is, was or became an Acquiring Person or an Affiliate or Associate of any such Person. 

Dated: 

Signature:                        
                         

Printed
name:                                        
   

  
 Exhibit B - Page 6 

 NOTICE 

The signature to the foregoing Assignment and Certification must correspond to the name as written upon the face of this Right Certificate in
every particular, without alteration or enlargement or any change whatsoever. 

  
 Exhibit B - Page 7 

 FORM OF ELECTION TO PURCHASE 

(To be executed if holder desires to exercise the Right Certificate.) 

To SOHU.COM LIMITED 
 The undersigned hereby irrevocably elects
to exercise                      Rights represented by this Right Certificate to purchase the Preferred Shares issuable upon the exercise of
the Rights (or such other securities of the Company or of any other Person which may be issuable upon the exercise of the Rights) and requests that certificates for such shares be issued in the name of
                                : 

Please insert social security or other identifying taxpayer number: 
  

					
	  
	 		  	
			
	  
	 		  	
	  
	 		  	
	  
	 		  	
	  
	 		  	

 (Please print name and address) 

If such number of Rights shall not be all the Rights evidenced by this Right Certificate or if the Rights are being exercised pursuant to
Section 11.1.2 of the Rights Agreement, a new Right Certificate for the balance of such Rights shall be registered in the name of and delivered
to                        : Please insert social security or other identifying taxpayer number: 

Please insert social security or other identifying taxpayer number: 
  

					
	  
	 		  	
			
	  
	 		  	
	  
	 		  	
	  
	 		  	
	  
	 		  	

 (Please print name and address) 

Signature:                        
                                         

Signatures must be guaranteed by a participant in a Medallion Signature Guarantee Program at a guarantee level acceptable to the
Company’s Rights Agent. 
 Signature Guaranteed: 

  
 Exhibit B - Page 8 

 CERTIFICATE 

The undersigned hereby certifies by checking the appropriate boxes that: 

(1)     the Rights evidenced by this Right Certificate      are    
are not being exercised by or on behalf of a Person who is or was an Acquiring Person or an Affiliate or Associate of any such Person (as such terms are defined in the Rights Agreement); and 

(2)     after due inquiry and to the best knowledge of the undersigned, the undersigned     
did      did not directly or indirectly acquire the Rights evidenced by this Right Certificate from any Person who is, was or became an Acquiring Person or an Affiliate or Associate of any such Person. 

Dated: 

Signature:                        
                         

Printed
name:                                        
   

  
 Exhibit B - Page 9 

 NOTICE 

The signature to the foregoing Election to Purchase and Certification must correspond to the name as written upon the face of this Right
Certificate in every particular, without alteration or enlargement or any change whatsoever. 

  
 Exhibit B - Page 10 

 Exhibit C 

UNDER CERTAIN CIRCUMSTANCES, AS SET FORTH IN THE RIGHTS AGREEMENT, RIGHTS OWNED BY OR TRANSFERRED TO ANY PERSON WHO IS OR BECOMES AN ACQUIRING
PERSON (AS DEFINED IN THE RIGHTS AGREEMENT) AND CERTAIN TRANSFEREES THEREOF WILL BECOME NULL AND VOID AND WILL NO LONGER BE TRANSFERABLE. 

SUMMARY OF RIGHTS TO PURCHASE 

PREFERRED SHARES OF 
 SOHU.COM
LIMITED 
 On January 11, 2019, the Board of Directors of Sohu.com Limited (the “Company”) authorized and declared the granting of
one preferred share purchase right (a “Right”) for each outstanding Ordinary Share, par value $0.001 per share, of the Company (the “Ordinary Shares”). The grant is made as of January 14, 2019 (the “Record Date”) to the
Registered Holders of Ordinary Shares on that date. Each Right entitles the Registered Holder to purchase from the Company one one-thousandth of a share of Series A Junior Participating Cumulative Preferred
Shares, par value $0.001 per share, of the Company (the “Preferred Shares”) at a price of $200 per one one-thousandth of a Preferred Share (the “Exercise Price”), subject to adjustment. The
description and terms of the Rights are set forth in a Rights Agreement dated as of January 14, 2019, as the same may be amended from time to time (the “Rights Agreement”), between the Company and The Bank of New York Mellon, a New York
banking corporation, as Rights Agent (the “Rights Agent”). 
 Until the earlier to occur of (a) the close of business on the
tenth business day after a public announcement that a Person or group of affiliated or associated Persons (with certain exceptions, an “Acquiring Person”) has acquired beneficial ownership of 15% or more of the outstanding Ordinary Shares
or (b) the Close of Business on the tenth Business Day (or such other calendar day, if any, as the Board of Directors may determine in its sole discretion) after the date a tender or exchange offer by any Person, other than an Exempt Person, is
first published or sent or given within the meaning of Rule 14d-4(a) of the Exchange Act, or any successor rule, if, upon consummation thereof, such Person would be the Beneficial Owner of 15% or more of the
Ordinary Shares then outstanding (including any such date which is after the date of the Rights Agreement and prior to the issuance of the Rights) (the earlier of such dates being herein referred to as the “Distribution Date”), (i) the
Rights will be evidenced, with respect to any of the Ordinary Share certificates outstanding as of the Record Date, by such certificate together with this Summary of Rights and (ii) the Rights will be transferable only in connection with the
transfer of the underlying Ordinary Shares of the Company. 
 Until the Distribution Date (or earlier expiration of the Rights), new
Ordinary Share certificates issued after the Record Date upon transfer or new issuances of Ordinary Shares will contain a notation incorporating the Rights Agreement by reference. Until the Distribution Date (or the earlier expiration or termination
of the Rights), the transfer of any of the certificates for the Ordinary Shares (or any Book Entry Ordinary Shares) outstanding prior to the date of the Rights Agreement shall also constitute the transfer of the Rights associated with the Ordinary
Shares of the Company (or any Book Entry Ordinary Shares) represented by such certificate. Promptly after the Distribution Date, separate certificates evidencing the Rights (“Right Certificates”) will be mailed to the Registered Holders of
the Ordinary Shares as of the close of business on the Distribution Date and such separate Right Certificates alone will evidence the Rights. 

  
 Exhibit C - Page 11 

 The Rights are not exercisable until the Distribution Date. The Rights will expire on
January 13, 2029 (the “Final Expiration Date”), unless the Final Expiration Date is advanced or extended or unless the Rights are earlier terminated or exchanged by the Company, in each case as described below, or upon the occurrence of
certain transactions. 
 The Exercise Price payable, and the number of Preferred Shares or other securities or property issuable, upon
exercise of the Rights is subject to adjustment from time to time to prevent dilution (i) in the event of a share dividend on, or a subdivision, combination or reclassification of, the Preferred Shares, (ii) upon the grant to holders of
the Preferred Shares of certain rights or warrants to subscribe for or purchase Preferred Shares at a price, or securities convertible into Preferred Shares with a conversion price, less than the then-current market price of the Preferred Shares or
(iii) upon the distribution to holders of the Preferred Shares of evidences of indebtedness or assets (excluding regular periodic cash dividends or dividends payable in Preferred Shares) or of subscription rights or warrants (other than those
referred to above). 
 The number of outstanding Rights is subject to adjustment in the event of a share dividend on the Ordinary Shares
payable in Ordinary Shares or subdivisions, consolidations or combinations of the Ordinary Shares occurring, in any such case, prior to the Distribution Date. 

Preferred Shares purchasable upon exercise of the Rights will not be redeemable. Each Preferred Share will be entitled, when, as and if
declared, to a minimum preferential quarterly dividend payment of the greater of (a) $1.00 per share, and (b) subject to the provisions for adjustment, 1,000 times the aggregate per share amount of all cash dividends, and 1,000 times the
aggregate per share amount (payable in kind) of all non-cash dividends or other distributions other than a dividend payable in Ordinary Shares or a subdivision of the outstanding Ordinary Shares (by
reclassification or otherwise), declared on the Ordinary Shares since the immediately preceding quarterly dividend payment date. Each Preferred Share will have 1,000 votes, voting together with the Ordinary Shares. Finally, in the event of any
merger, consolidation or other transaction in which outstanding Ordinary Shares are converted or exchanged, each Preferred Share will be entitled to receive 1,000 times the amount received per Ordinary Share. These rights are protected by customary
antidilution provisions. 
 Because of the nature of the Preferred Shares’ dividend, liquidation and voting rights, the value of the
one one-thousandth interest in a Preferred Share purchasable upon exercise of each Right should approximate the value of one Ordinary Share. 

  
 Exhibit C - Page 12 

 In the event that any Person or group of affiliated or associated Persons becomes an
Acquiring Person, each holder of a Right, other than Rights beneficially owned by the Acquiring Person (which will thereupon become void), will thereafter have the right to receive upon exercise of a Right that number of Ordinary Shares having a
market value of two times the exercise price of the Right. 
 In the event that, after a Person or group has become an Acquiring Person, the
Company is acquired in a merger or other business combination transaction or 50% or more of its consolidated assets or earning power are sold, proper provisions will be made so that each holder of a Right (other than Rights beneficially owned by an
Acquiring Person which will have become void) will thereafter have the right to receive upon the exercise of a Right that number of ordinary shares of the Person with whom the Company has engaged in the foregoing transaction (or its parent) that at
the time of such transaction have a market value of two times the exercise price of the Right. 
 At any time after any Person or group
becomes an Acquiring Person and prior to the earlier of one of the events described in the previous paragraph or the acquisition by such Acquiring Person of 50% or more of the outstanding Ordinary Shares, the Board of Directors of the Company may
exchange the Rights (other than Rights owned by such Acquiring Person which will have become void), in whole or in part, for Ordinary Shares or Preferred Shares (or a series of the Company’s preferred share having equivalent rights, preferences
and privileges), at an exchange ratio of one Ordinary Share, or a fractional Preferred Share (or other preferred share) equivalent in value thereto, per Right. 

With certain exceptions, no adjustment in the Exercise Price will be required until cumulative adjustments require an adjustment of at least
1% in such Exercise Price. 
 At any time prior to the time an Acquiring Person becomes such, the Board of Directors of the Company may
terminate the Rights in whole, but not in part. The termination of the Rights may be made effective at such time, on such basis and with such conditions as the Board of Directors of the Company in its sole discretion may establish. Immediately upon
any termination of the Rights, the right to exercise the Rights will terminate. 
 For so long as the Rights are then terminable the Company
may amend the Rights Agreement in any manner. After the Rights are no longer terminable, the Company may amend the Rights Agreement in any manner that does not adversely affect the interests of holders of the Rights. 

Until a Right is exercised or exchanged, the holder thereof, as such, will have no rights as a shareholder of the Company, including, without
limitation, the right to vote or to receive dividends. 
 A copy of the Rights Agreement has been filed with the Securities and Exchange
Commission as an Exhibit to a Registration Statement on Form 8-A dated January 14, 2019. A copy of the Rights Agreement is available free of charge from the Company. This summary description of the Rights does
not purport to be complete and is qualified in its entirety by reference to the Rights Agreement, as the same may be amended from time to time, which is hereby incorporated herein by reference. 

  
 Exhibit C - Page 13

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