Document:

EX-10.2

 Exhibit 10.2 

CANGO INC. 
 FORM OF
EXECUTIVE EMPLOYMENT AGREEMENT 
 This Executive Employment Agreement, dated as of
                , 20         (this “Agreement”), is executed by and between Cango Inc., an exempted company with
limited liability incorporated and existing under the laws of the Cayman Islands (the “Company”) and                  (holding passport of
                 with passport number of                 /PRC Identification Card
No.                ) (the “Executive”). 
 RECITALS

 The Company desires to employ the Executive, and the Executive agrees to be employed by the Company, and act as
                 of the Company, all pursuant to the terms and conditions of this Agreement; 

NOW, THEREFORE, the parties hereto agree as follows: 
  

	1.	TERM OF EMPLOYMENT 

  

	 	1.1	The Company shall employ the Executive to take the position as set forth in Article 2 hereof, perform the duties and responsibilities as set forth in Article 2 hereof, and render services to the Company during a term of
five (5) years commencing on                , 20        and ending
on                , 20        (the “Term”) . The Term may be early terminated pursuant to the provisions of Articles 4
and 5 hereof. 

  

	2.	POSITION, DUTIES AND RESPONSIBILITIES 

  

	 	2.1	Position. The Executive shall be employed and act as the                of the Company with all responsibilities that are customary
for such officer, as well as other responsibilities reasonably assigned to the Executive by the Company. The Executive may take position in any Affiliate (as defined in Article 2.2 hereof) of the Company and is hereby appointed
as                 of                , an Affiliate of the Company, subject to the
approval of such appointment by the board of directors of such Affiliate, and shall initially work in Shanghai, China. The entity in which the Executive takes position and the location where the Executive works may be appropriately adjusted
according to the operative demands of the Company in the future. The Executive shall use his/her best efforts to perform his/her duties and shall comply with all applicable laws, regulations and rules as well as the memorandum and articles of
association and corporate and business policies and procedures of the Company. The Executive shall adhere to good business ethics and practices and shall not take advantage of his/her position for personal gains. 

 

	 	2.2	For the purpose of this Agreement, “Affiliate” means any entity directly or indirectly controlled by the Company. For the purpose of this Article, “Control” means the direct or indirect possession of
the power to direct or cause to direct the management and policies of such entity, whether through ownership of voting securities, by contract or otherwise, including, without limitation, (a) the direct or indirect ownership of 50% or more of
the outstanding stocks or other equity interests issued by such entity, (b) direct or indirect ownership of the 50% or more voting power of such entity, or (c) the power to appoint, directly or indirectly, a majority of the members of the
board of directors or other similar decision-making organization of such entity. 

	 	2.3	Voting Restriction. If the Executive is elected as a director of the Company, the Executive shall refrain from voting, in his/her capacity of a director of the Company, on matters in relation to his/her
employment or termination of his/her employment at meetings of the board of directors of the Company. 

  

	 	2.4	Other Activities. Except with the prior written approval of the Company, the Executive shall not render commercial or professional services of any nature to any person or organization, whether or not for
compensation; and the Executive will not directly or indirectly engage, participate, invest, finance or otherwise assist in any business activity that is potentially competitive in any manner with the business of the Company or any Affiliate or any
business activity that may cause the Executive to be in conflict of interest with the Company or any Affiliate, whether or not for profit. 

  

	3.	COMPENSATION AND BENEFITS 

 As full consideration for the services to be provided by the
Executive under this Agreement and as full compensation for the obligations and restrictions to be imposed on the Executive by this Agreement, the Company shall or have its Affiliate in which the Executive holds a position, as the case may be, pay
the Executive, and the Executive agrees to accept, the base salary, bonus, share option and other incentive programs, and other benefits as set forth in this Article 3. 
  

	 	3.1	Base salary. The Company shall pay base salaries to the Executive in the amount and by the means as set forth in Part I of Exhibit A hereof. 

 

	 	3.2	Bonus. The Executive may be entitled to the performance-based bonus as set forth in Part II of Exhibit A hereof. 

  

	 	3.3	Share Options and Other Incentive Programs. The Executive shall be eligible to participate in any share option or other incentive program available to officers or employees of the Company as determined by the
Company. 

  

	 	3.4	Benefits. The Executive will be eligible to receive any benefit as the Company or the Affiliate with which the Executive works generally provides to its other employees of comparable position in accordance with
the benefit plans established and amended from time to time at its sole discretion by the Company or such Affiliate, including without limitation, various mandatory health care, insurance and pension plans required in the jurisdiction where the
Company or such Affiliate is located. The annual paid leave of the Executive shall be [twenty (20)] working days. 

  
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	4.	TERMINATION BY THE COMPANY. 

  

	 	4.1	Termination for Cause. For purposes of this Agreement, unless otherwise provided under applicable laws, “Cause” will exist at any time after the occurrence of one or more of the following events:
(a) the Executive commits willful misconduct or gross negligence in performance of his duties hereunder (“Malfeasance”) and fails to correct such Malfeasance within a reasonable period specified by the Company after the Company has
sent the Executive a written notice demanding correction within such a period; (b) the Executive has committed Malfeasance and has caused serious losses and damages to the Company; (c) the Executive seriously violates the internal
rules of the Company and fails to correct such violation within a reasonable period specified by the Company after the Company has sent the Executive a written notice demanding correction within such a period; (d) the Executive has
seriously violated the internal rules of and has caused serious losses and damages to the Company; (e) the Executive is convicted by a court of competent jurisdiction or has pleaded guilty of theft, fraud or other criminal offense; or
(f) the Executive seriously breaches his/her duty of loyalty to the Company or an Affiliate under the laws of the Cayman Islands, the PRC or other relevant jurisdictions. The Company may terminate the employment of the Executive for Cause at
any time without prior written notice. Upon termination, the Company shall pay all compensation of the Executive accrued up to the date of termination pursuant to Article 3 hereof and severance payments as expressly required by applicable law;
provided, however, that the Company may deduct and withhold any amount it is entitled to as damages under applicable laws. Thereafter, all obligations of the Company under this Agreement shall terminate. 

 

	 	4.2	Termination without Cause. The Company may terminate the Executive’s employment by a three-month prior written notice. Upon termination, the Company shall pay all compensation of the Executive accrued up to
the date of termination pursuant to Article 3 hereof; provided, however, that the Company may deduct and withhold any amount it is entitled to as damages under applicable laws. Thereafter, all obligations of the Company under this Agreement shall
terminate. 

  

	 	4.3	Termination By Reason of Death. The employment of the Executive by the Company shall be automatically ceased upon the death of the Executive. In the event that employment of the Executive by the Company
terminates as a result of the Executive’s death, the Executive’s estate or heirs will receive all unpaid compensation accrued as of the date of the termination of the employment as provided in Article 3 hereof; provided that, the Company
may deduct and withhold any amount it is entitled to as damages under applicable laws. Thereafter, all obligations of the Company under this Agreement shall terminate. Nothing contained herein shall prevent the estate or heirs of the Executive from
being entitled to any interest or other applicable benefits under any life insurance programs (if any). If the death of the Executive occurs during the performance of his/her duties for the Company, the Company shall pay to the appropriate
beneficiaries a special compensation at an amount to be determined by the Company which shall not exceed the annual base salary of the Executive as set forth in Article 3.1 hereof. 

  
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	 	4.4	Termination By Reason of Disability. In the event that the Executive is entitled to long-term disability benefits of the Company, or in the event that, in the judgment of the Company, the Executive is not able to
perform his/her duties for 90 consecutive days or 120 days or longer in a 12-month period due to his/her physical or psychological problems, the Company may terminate the Executive’s employment, provided
that such termination is permitted by the law. Upon termination, the Company shall pay all compensation of the Executive accrued up to the date of termination pursuant to Article 3 hereof; provided, however, that the Company may deduct and withhold
any amount it is entitled to as damages under applicable laws. Thereafter, all obligations of the Company under this Agreement shall terminate. The provisions of this Article 4.3 shall not affect the Executive’s rights under any disability
program that he/she participates (if any). 

  

	5.	TERMINATION BY THE EXECUTIVE 

  

	 	5.1	The Executive may voluntarily terminate his/her employment with the Company with or without cause by a three-month prior written notice. During such three-month notice period, the Executive shall continue to perform
diligently his/her duties and responsibilities under this Agreement. The Company shall have the discretion to terminate its employment with the Executive prior to the last day of such three-month period; provided that the Company shall have paid the
Executive all of his/her compensation accrued through the last day of such three-month period pursuant to Article 3 hereof; provided further that the Company may deduct and withhold any amount it is entitled to as damages under applicable laws.
Thereafter, the Company’s obligations hereunder shall terminate. In such case, the Company shall not be responsible for paying any severance pay or other benefits to the Executive. 

 

	6.	RESPONSIBILITIES UPON TERMINATION 

  

	 	6.1	Return of Documents. The Executive agrees to promptly return to the Company all documents and materials in any form received by the Executive by virtue of his/her employment with the Company upon or prior to the
termination of his/her employment with the Company, including, without limitation, all originals and copies of any Proprietary Information as defined in Article 8 hereof as well as any part thereof, together with all equipment and other tangible or
intangible assets of the Company. The Executive agrees not to retain any document or material that contains such Proprietary Information or any copy thereof. 

  
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	 	6.2	Survival. The Executive further agrees that (a) all representations, warranties and obligations under Articles 6, 7, 8, 9, 11 and 14 hereof shall survive the termination or expiration of the Term;
(b) all representations, warranties and obligations under Articles 6, 7, 8, 9, 11 and 14 hereof shall also survive the termination of this Agreement; and (c) after termination or expiration of the Term, the Executive shall use his/her best
efforts to cooperate with the Company in connection with such surviving obligations, including, without limitation to, completion of outstanding work on behalf of the Company, transfer of his/her assignments to designated employees of the Company,
and defense of the Company against claims raised by any third party in connection with any action or negligence of the Executive during his employment with the Company. 

 

	7.	RESTRICTED ACTIVITIES 

  

	 	7.1	No-use of Proprietary Information. The Executive acknowledges that to conduct any activity restricted in this Article will certainly involve the use or disclosure of
Proprietary Information as defined in Article 8 hereof and consequently result in a breach of such Article, and it will be difficult to directly demonstrate a breach of Article 8 hereof. Therefore, in order to prevent the Executive from using or
disclosing the Proprietary Information as defined in Article 8 and as a condition to employing the Executive, the Executive agrees that during his/her employment with the Company and for a period of one year after the termination or expiration of
the employment, the Executive shall not, directly or indirectly: 

  

	 	(a)	refer or attempt to refer to any third party any business in which the Company or its Affiliates currently engage or will likely engage or participate, including, without limitation, solicitation or provision of any
business or services that are essentially similar to the business of the Company or its Affiliates on behalf of any individual, company or other entity who was then an existing or prospective customer, supplier or partner of the Company or its
Affiliates. 

  

	 	(b)	seek to solicit the services of any employees who is employed by the Company or its Affiliates on or after the date of the Executive’s termination, or in the year preceding such termination, without the prior
written consent of the Company. 

  

	 	7.2	Non-Competition 

  

	 	(a)	During the Restrictive Period set forth in Article 7.2(b) hereof, the Executive shall not, directly or indirectly, engage in any manner in any business that may compete with the business of the Company anywhere in the
world, and without the prior written consent of the Company, the Executive shall not, directly or indirectly, anywhere in the world, own an interest in, manage, operate, join, control, lend money or render financial or other assistance to or
participate in or be connected with, as an officer, employee, partner, stockholder, principal, licensor, consultant or otherwise, any person that competes with the Company. During the Restrictive Period, the Executive shall not approach financial
institutions, dealers or other persons or entities introduced to the Executive in his or her capacity as a representative of the Company for the purpose of doing business with such persons or entities that will harm the Company’s business
relationships with these persons or entities. 

  
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	 	(b)	In this Article 7.2, “Restricted Period” shall mean the Term of this Agreement and one (1) year after the expiration or early termination thereof. 

 

	 	(c)	In the event that the Executive is in breach of the provisions of Article 7.2(a) hereof, the Restricted Period shall be extended by the length of the period of such breach. 

 

	 	(d)	The Executive acknowledges that the compensation to be paid by the Company shall have contained any and all economic consideration for each and all obligations of the Executive under this Article 7.2. 

 

	 	7.3	Enforceability. Each covenant contained in this Article 7 constitutes an independent covenant, and if any covenant in unenforceable, other covenants shall continue to be valid and binding. In the event the term
of any restriction or the territorial restriction contained in this Article 7 is finally determined by a competent court to have exceeded the maximum extent deemed reasonable and enforceable by such court, then this Agreement shall be amended as
such to adopt the longest term or largest territory deemed by such court to be enforceable. 

  

	 	7.4	Independent Covenant. All covenants contained in this Article 7 shall be interpreted as a separate agreement independent of other provisions of this Agreement. Any lawsuit or claim brought by the Executive
against the Company (whether by virtue of this Agreement or any other agreement) shall not constitute a defense against the enforcement of this Article 7 by the Company. 

 

	8.	PROPRIETARY INFORMATION 

  

	 	8.1	The Executive agrees that during his/her employment with the Company and within two (2) years after termination of his/her employment with the Company, he/she will keep in strict confidence all Proprietary
Information and, without the prior written consent of the Company, will not use or disclose to any individual, entity or company the Proprietary Information other than the use or disclosure for the purposes of performing his/her duties and
responsibilities and in favor of the Company or pursuant to applicable law to the extent necessary. “Proprietary Information” shall mean any proprietary, confidential or secret information disclosed to the Executive in connection with
the Company, the business of the Company, or subsidiaries, Affiliates, customers or business partners of the Company or their respective businesses, or any third party to which the Company has confidentiality obligation (the “Related
Party”) or its business. Such Proprietary Information shall include, without limitation, trade secrets, manuals, hardware, customers’ personal information, terms of business agreements and contracts, research materials, business
strategies, personnel information, market information, technical materials, forecasts, promotion, financial and other business information of the Company or the Related Parties, no matter such information is directly or indirectly disclosed to the
Executive in writing, orally, in the form of image or object or otherwise. The Executive understands that the Proprietary Information does not include any of the foregoing that has become known to the public other than as a result of disclosure by
the Executive in breach hereof. 

  
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	9.	INTELLECTUAL PROPERTY 

  

	 	9.1	Inventions Retained and Licensed. Exhibit B of this Agreement sets forth all inventions which were made by the Executive prior to his/her employment with the Company (collectively, the “Prior
Inventions”), including all processes, inventions, technology, original works of authorship, developments, improvements, formulas, patents, discoveries, copyrights and trade secrets. Such Prior Inventions, which belong to the Executive and are
related to the Company’s proposed business, products or research and development, are not assigned to the Company hereunder. In case that there is no Prior Invention listed in Exhibit B hereof, the Executive hereby confirms that no Prior
Invention exist. If in the course of his/her employment with the Company, the Executive incorporates into a Company product, process, machine or other project a Prior Invention owned by the Executive or in which the Executive has an interest, the
Company is hereby granted and shall have a nonexclusive, royalty-free, irrevocable, perpetual, worldwide license to make, have made, modify, use, sell and engage in other actions with respect to such Prior Invention as part of or in connection with
such product, process or machine. 

  

	 	9.2	Assignment of Inventions. The Executive agrees that he/she will promptly make full written disclosure to the Company in confidence, will hold in trust for the sole right and benefit of the Company, and hereby
assign to the Company, or its designee, without further compensation, all his/her right, title, and interest in and to any and all inventions, designs, original works of authorship, developments, concepts, improvements or trade secrets, whether or
not patentable or registrable under copyright or similar laws, which the Executive may solely or jointly conceive or develop or reduce to practice, or cause to be conceived or developed or reduced to practice, during the period of time the Executive
is in the employment of the Company and within twelve (12) months after the termination or expiration of the employment (collectively referred to as “Inventions”), except as provided in Article 9.3 below. The Executive further agrees
to use best efforts to assist the Company in obtaining and enforcing patents, copyrights and other legal rights for these Inventions. The Executive further agrees that all patentable and copyrightable works which are made by the Executive (solely or
jointly with others) within the scope of and during the period of his/her employment with the Company, are “works made for hire” and the Executive hereby assigns all proprietary rights, including patent and copyright, in these works to the
Company without further compensation. 

  
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	 	9.3	Unrelated Inventions. Inventions as referenced to in Article 9.2 hereof does not include inventions which the Executive can demonstrate to be developed entirely on his/her own time without using the
Company’s equipment, supplies, facilities or trade secret information (the “Unrelated Inventions”), unless those inventions that are either (i) related at the time of conception or reduction to practice of the invention to the
Company’s business, or actual or demonstrably anticipated research or development of the Company, or (ii) result from any work performed by Executive for the Company. The Executive agrees to disclose promptly to the Company all such
Unrelated Inventions and to provide the Company or its assignee first rights of refusal to license such disclosed Unrelated Inventions within three months after his/her disclosure of such Unrelated Inventions based on commercially negotiated terms.

  

	 	9.4	Maintenance of Records. The Executive agrees to keep and maintain adequate and current written records of all Inventions made by the Executive (solely or jointly with others) during the term of his/her employment
with the Company. The records will be in the form of notes, sketches, drawings, and any other format that may be specified by the Company. The records will be available to and remain the sole property of the Company at all times. 

 

	 	9.5	Patent and Copyright Registrations. 

  

	 	(a)	The Executive agrees to assist the Company, or its designee, upon the instruction of the Company, in every proper way to secure the Company’s rights in the Inventions and any copyrights, patents or other
intellectual property rights relating thereto in any and all countries, including the disclosure to the Company of all pertinent information and data with respect thereto, the execution of all applications, specifications, oaths, assignments and all
other instruments which the Company shall deem necessary in order to apply for and obtain such rights and in order to assign and convey to the Company, its successors, assigns, and nominees the sole and exclusive rights, title and interest in and to
such Inventions, and any copyrights, patents or other intellectual property rights relating thereto. 

  

	 	(b)	The Executive further agrees that his/her obligation to execute or cause to be executed any such instrument or papers shall continue after the termination of this Agreement. If the Company is unable because of the
Executive’s mental or physical incapacity or for any other reason to secure his/her signature to apply for or to pursue any application for any domestic or foreign patents or copyright registrations covering Inventions assigned to the Company
as above, then the Executive hereby irrevocably designates and appoints the Company and its duly authorized officers and agents as his/her agent and attorney in fact, to act for and in his/her behalf and stead to execute and file any such
applications and to do all other lawfully permitted acts to further the prosecution and issuance of letters patent or copyright registrations thereon with the same legal force and effect as if executed by the Executive. 

  
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	10.	INFORMATION OF PREVIOUS EMPLOYER 

  

	 	10.1	The Executive agrees that during his/her employment with the Company he/she will not inappropriately use or disclose any proprietary information or trade secrets owned by any previous employer of the Executive or any
other individual or entity obtained prior to his/her employment with the Company, nor will he/she bring to the Company any such non-public document or proprietary information. 

 

	11.	INFORMATION OF THIRD PARTIES 

  

	 	11.1	The Executive hereby acknowledges that the Company has received and may continue to receive from third parties confidential or proprietary information. The Executive agrees to keep in strict confidence all of such
confidential or proprietary information in his/her possession and to refrain from using or disclosing to any individual, entity or company such confidential or proprietary information, except that such use or disclosure is in compliance with the
agreement between the Company and such third party and is necessary for the performance of relevant work on behalf of the Company. 

  

	12.	NO-CONFLICT 

  

	 	12.1	The Executive represents and warrants that the execution by the Executive of this Agreement, the employment with the Company, and the performance by the Executive of his/her duties and responsibilities pursuant to this
Agreement will not breach any of his/her legal or contractual obligation to any prior employer of the Executive or any other parties, including, without limitation, any obligation in respect of proprietary or confidential information or intellectual
property rights of such party. 

  

	13.	FOREIGN CORRUPTION ACT 

  

	 	13.1	The Executive agrees to diligently adhere to the Foreign Corrupt Practices Act attached as Exhibit E hereof. 

  

	 	13.2	The Executive agrees and promises not to provide or offer any remuneration, gift, service or article of value to any government officials (including working stuff or employees of any government or administrative
agencies, political parties or candidates) of any country for any reason. The Executive further agrees and promises that the Executive will not accept any remuneration in the form of cash or other tangible objects from any person in performing
his/her duties under this Agreement other than the compensation specified in Article 3 of this Agreement. The Executive promises that all conducts of the Executive under this Agreement shall be in compliance with all relevant laws, regulations and
administrative rules of the People’s Republic of China at all times. 

  
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	14.	MISCELLANEOUS 

  

	 	14.1	Continuing Obligation. If the Executive is employed by any existing or future Affiliate of the Company at any time, or provides services to such Affiliate, or otherwise retained by such Affiliate, then the
obligations under this Agreement shall continue to apply. Any reference to the Company shall include such Affiliate. In the event that this Agreement expires or terminates for any reason, the Executive shall immediately resign from any position at
such Affiliate of the Company, unless otherwise required by the Company. 

  

	 	14.2	Notice to Employer. The Executive hereby authorizes the Company to notify the relevant provisions of this Agreement and the Executive’s obligations under this Agreement to the actual or future employer of
the Executive (including the Affiliate with which the Executive will work). 

  

	 	14.3	Right to Name and Image. The Executive hereby authorizes the Company to use, or authorize any other person to use, once or from time to time during his/her employment with the Company, the names, photos, images
(including cartoons), voices and resume of the Executive as well as photocopies and duplicates thereof in any media now known or developed in the future (including but not limited to movies, videos, digital or any other electronic media) for
purposes as may be deemed appropriate by the Company. 

  

	 	14.4	Legal Fees. In any dispute arise from or in connection with this Agreement, the winning party shall be entitled to be reimbursed for reasonable legal fees. 

 

	 	14.5	Amendments, Extension and Waiver. This Agreement may not be amended, revised, extended or terminated unless by a written instrument executed by the Executive or a duly authorized representative of the Company
(excluding the Executive). Any failure or delay to assert any right, remedy or power shall not be construed as a waiver of such right, remedy or power. All rights and remedies existing under this Agreement are cumulative to, and not exclusive of,
any rights or remedies otherwise available. 

  

	 	14.6	Transfer; Successors and Assigns. The Executive agrees that he/she will not transfer, sell, assign or otherwise dispose of (whether voluntarily, involuntarily or by operation of law) any rights or interests under
this Agreement, and the rights of the Executive shall not be subject to any security interest or creditors’ claims. Any such transfer, assign or other disposal shall be invalid. Nothing contained in this Agreement shall prevent the Company from
merging into or with any other company or selling all or substantially all of the assets of the Company, or transfer this Agreement or any obligation under this Agreement. In the event of any change in the ownership interest or the control of the
Company, the provisions of this Agreement shall continue to apply and shall be binding upon any successors. Notwithstanding and subject to the foregoing, this Agreement shall be valid and binding upon, and inure to the benefit of, the successor,
representative, heirs and permitted assigns of each party, and shall not vest in any other individual or entity any interest. 

  
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	 	14.7	Notice. All notices or other communications under this Agreement shall be made in writing and delivered to the following addresses or any other addresses designated by each party in writing from time to time:

 To the Company: 

Address:      10A, Building 3, Youyou Century Plaza 

428 South Yanggao Road 

Pudong New Area, Shanghai 200127 

People’s Republic of China 

Attention: Mr. Yongyi Zhang 

To the Executive: 
 Address: 

Fax: 
 Attention of: 

Any notice shall be deemed to have been delivered: 
  

	 	(a)	If by hand or courier, on the date of actual delivery; 

  

	 	(b)	If by prepaid and registered mail, on the fourth business days after the date of dispatch; or 

  

	 	(c)	If by fax, on the date on which the fax is transmitted (as evidenced by the confirmatory report with fax number, pages transmitted and date of transmission). 

 

	 	14.8	Severability; Enforceability. If all or any portion of any provision of this Agreement as applied to any person, to any place or to any circumstance shall be ruled by an arbitration commission or a court of
competent jurisdiction to be invalid, illegal or incapable of being enforced, the same shall in no way affect (to the maximum extent permissible by Law) that provision or the remaining portions of that provision as applied to any parties, places or
circumstances or any other provisions of this Agreement or the validity or enforceability of this Agreement as a whole. 

  

	 	14.9	Governing Law. This Agreement shall be governed and construed in accordance with the laws of the People’s Republic of China. 

 

	 	14.10	Language. This Agreement is written and executed in English. 

  
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	 	14.11	Originals. This Agreement is executed by the parties in two originals. Each of the parties will hold one original, and the two originals shall be equally valid. 

The Executive acknowledges that (a) he/she has consulted or has the opportunity to consult with independent counsel of his choice
regarding this Agreement, and the Company has suggested that he/she do so and (b) he/she has read and understands this Agreement, fully understands its legal effect, and has entered into this Agreement voluntarily in his/her own judgment. The
Executive hereby agrees that the obligations under Articles 7, 8 and 9 hereof and the definition of the Proprietary Information contained in those provisions shall also apply to the Proprietary Information relating to any work performed for the
Company prior to the execution of this Agreement. 
 [Signatures Page to Follow] 

  
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 IN WITNESS WHEREOF, the parties have caused this Agreement to be executed on the date first written above. 

 

			
	CANGO INC.

 
			
		
	By:	 	 

 
			
	Name:	 	
	 Title:
	 	
	
	EXECUTIVE

 
			
		
	By:	 	  

 
			
	Name:EX-10.15

 Exhibit 10.15 

STRICTLY CONFIDENTIAL 
  

 
  

SHARE PURCHASE AGREEMENT 
  

 
 among 

PARADIGM MALLS GROUP LIMITED 

and 
 SHANGHAI CANGO INVESTMENT
MANAGEMENT CONSULTING SERVICE CO., LTD. 
 and 

CANGO GROUP LIMITED 
  

 
 Dated as of
April 24, 2018 
  
  

 

 STRICTLY CONFIDENTIAL 

TABLE OF CONTENTS 
  

							
	 	  	 	  	Page	 
	 ARTICLE 1
	  	DEFINITIONS	  	 	2	 
			
	 SECTION 1.1
	  	CERTAIN DEFINED TERMS	  	 	2	 
	 SECTION 1.2
	  	INTERPRETATION AND RULES OF CONSTRUCTION	  	 	4	 
			
	 ARTICLE 2
	  	CANGO SHARE PURCHASE AGREEMENT	  	 	5	 
			
	 SECTION 2.1
	  	TERMINATION OF THE CANGO SHARE PURCHASE AGREEMENT	  	 	5	 
			
	 ARTICLE 3
	  	PURCHASE AND SALE	  	 	5	 
			
	 SECTION 3.1
	  	PURCHASE AND SALE OF THE SALE SHARE	  	 	5	 
	 SECTION 3.2
	  	PURCHASE PRICE	  	 	5	 
	 SECTION 3.3
	  	SOURCES OF FUNDING FOR PURCHASE PRICE	  	 	5	 
	 SECTION 3.4
	  	CLOSING	  			
	 SECTION 3.5
	  	CLOSING DELIVERABLES BY THE SELLER	  	 	5	 
	 SECTION 3.6
	  	CLOSING DELIVERABLES BY THE BUYER	  	 	6	 
	 SECTION 3.7
	  	TAX GROSS-UP AND INDEMNITIES	  	 	6	 
			
	 ARTICLE 4
	  	REPRESENTATIONS AND WARRANTIES OF THE SELLER	  	 	6	 
			
	 SECTION 4.1
	  	AUTHORITY AND QUALIFICATION OF THE SELLER; DUE EXECUTION	  	 	6	 
	 SECTION 4.2
	  	ORGANIZATION AND QUALIFICATION OF THE COMPANY	  	 	7	 
	 SECTION 4.3
	  	CAPITALIZATION AND SALE SHARE	  	 	7	 
	 SECTION 4.4
	  	NO CONFLICT	  	 	7	 
	 SECTION 4.5
	  	GOVERNMENTAL APPROVALS	  	 	7	 
	 SECTION 4.6
	  	LIABILITIES	  	 	7	 
	 SECTION 4.7
	  	NO ADDITIONAL REPRESENTATIONS AND WARRANTIES	  	 	7	 
			
	 ARTICLE 5
	  	REPRESENTATIONS AND WARRANTIES OF THE BUYER	  	 	8	 
			
	 SECTION 5.1
	  	ORGANIZATION AND AUTHORITY OF THE BUYER; DUE EXECUTION	  	 	8	 
	 SECTION 5.2
	  	NO CONFLICT	  	 	8	 
	 SECTION 5.3
	  	GOVERNMENTAL APPROVALS	  	 	8	 
	 SECTION 5.4
	  	ANTI-MONEY LAUNDERING AND NO SANCTIONS	  	 	8	 
	 SECTION 5.5
	  	NO ADDITIONAL REPRESENTATIONS AND WARRANTIES	  	 	8	 
			
	 ARTICLE 6
	  	ADDITIONAL AGREEMENTS	  	 	8	 
			
	 SECTION 6.1
	  	NON-VIOLATION	  	 	8	 
	 SECTION 6.2
	  	POST-CLOSING ACTIONS	  	 	8	 
	 SECTION 6.3
	  	POST-CLOSING LIABILITIES	  	 	8	 
			
	 ARTICLE 7
	  	CONDITIONS TO CLOSING	  	 	9	 
			
	 SECTION 7.1
	  	CONDITIONS TO OBLIGATIONS OF THE BUYER	  	 	9	 
	 SECTION 7.2
	  	CONDITIONS TO OBLIGATIONS OF THE SELLER	  	 	9	 
			
	 ARTICLE 8
	  	INDEMNIFICATION	  	 	9	 
			
	 SECTION 8.1
	  	INDEMNIFICATION	  	 	9	 
			
	 ARTICLE 9
	  	GENERAL PROVISIONS	  	 	10	 
			
	 SECTION 9.1
	  	EXPENSES	  	 	10	 
	 SECTION 9.2
	  	NOTICES	  	 	10	 
	 SECTION 9.3
	  	PUBLIC ANNOUNCEMENTS	  	 	10	 
	 SECTION 9.4
	  	CONFIDENTIALITY	  	 	11	 
	 SECTION 9.5
	  	SEVERABILITY	  	 	11	 
	 SECTION 9.6
	  	ENTIRE AGREEMENT	  	 	11	 
	 SECTION 9.7
	  	ASSIGNMENT	  	 	11	 

							
	 SECTION 9.8
	  	 AMENDMENT
	  	 	11	 
	 SECTION 9.9
	  	 WAIVER
	  	 	11	 
	 SECTION 9.10
	  	NO THIRD PARTY BENEFICIARIES	  	 	11	 
	 SECTION 9.11
	  	SPECIFIC PERFORMANCE	  	 	11	 
	 SECTION 9.12
	  	NO PRESUMPTION	  	 	12	 
	 SECTION 9.13
	  	GOVERNING LAW	  	 	12	 
	 SECTION 9.14
	  	DISPUTE RESOLUTION	  	 	12	 
	 SECTION 9.15
	  	COUNTERPARTS	  	 	12	 

 THIS SHARE PURCHASE AGREEMENT (this “Agreement”) is entered into as of
April 24, 2018, by and among: 
  

	(1)	PARADIGM MALLS GROUP LIMITED, a limited liability company incorporated and existing under the laws of the British Virgin Islands (the “Seller”); 

 

	(2)	SHANGHAI CANGO INVESTMENT MANAGEMENT CONSULTING SERVICE CO., LTD. 

	 	(

), a limited liability company incorporated and existing under the laws of the People’s Republic of China (the “Cango”), and 

 

	(3)	CANGO GROUP LIMITED, a limited liability company incorporated and existing under the laws of Hong Kong (the “Buyer”). 

Each of the Seller, Cango and the Buyer is referred to herein individually as a “Party” and collectively as the
“Parties.” 
 WHEREAS, the Seller entered into a certain share purchase agreement with Cartech Limited on
August 21, 2017, pursuant to which the Seller acquired all the issued share capital of Express Group Development Limited (

), a company incorporated in Hong Kong with company number 2397162 (the “Company”), for a consideration set forth thereunder (such transaction, the “Acquisition of the Company” and such
consideration, the “Consideration for the Company”). 
 WHEREAS, the Seller entered into a certain share purchase
agreement with Cango on September 19, 2017 (the “Cango Share Purchase Agreement”), pursuant to which Cango and/or its nominee(s) shall purchase from the Seller and the Seller shall sell to Cango and/or its nominee(s) all the
issued share capital of the Company, on the terms and subject to the conditions including the conditions precedent to the closing set forth in the Cango Share Purchase Agreement. 

WHEREAS, the Company entered into with, inter alia Autohome Financing Hong Kong Limited 

(

, “Autohome”) and Cango, on September 19, 2017 and immediately after the execution of the Cango Share purchase Agreement„ a certain equity transfer agreement (the “Equity Transfer
Agreement”), pursuant to which the Company shall purchase from Autohome and Autohome shall sell to the Company the 25% equity interest in Shanghai Youcheyoujia Financial Leasing Co., Ltd. (

, “YCYJ”), representing RMB75,000,000 of the registered capital of YCYJ, on the terms and subject to the conditions set forth in the Equity Transfer Agreement (the “YCYJ Transaction”).

 WHEREAS, due to a change in circumstances, each of the Seller and Cango acknowledges and agrees that certain terms and conditions
set forth in the Cango Share Purchase Agreement shall not apply any longer. 
 WHEREAS, the Parties intend to enter into this
Agreement, pursuant to which (i) the Cango Share Purchase Agreement shall be terminated, superseded and replaced in its entirety, and (ii) the Seller shall sell to the Buyer and the Buyer shall purchase from the Seller all the issued share
capital of the Company, both upon the terms and subject to the conditions set forth herein. 
 NOW, THEREFORE, in consideration of
the promises and the mutual agreements and covenants hereinafter set forth, and intending to be legally bound, the Parties hereby agree as follows: 

  
 1 

 ARTICLE 1 DEFINITIONS 

Section 1.1 Certain Defined Terms. For purposes of this Agreement: 

“Action” means any claim, action, cause of action, demand, lawsuit, arbitration, inquiry, audit, notice of violation,
proceeding, litigation, citation, summons, subpoena or police, legal, governmental or regulatory investigations of any nature, civil, criminal, administrative, regulatory or otherwise, whether at law or in equity. 

“Acquisition of the Company” has the meaning provided in the preamble. 

“Affiliate” means, with respect to a given Person, (i) in the case where such given Person is not a natural person, any
other Person that directly, or indirectly through one or more intermediaries, controls, is controlled by, or is under common control with, such given Person, or (ii) in the case where such given Person is a natural person, (A) a relative
of such given Person, or (B) any other Person that is controlled by such given Person and his relatives, whether individually or collectively. “Control” (including the terms “controlled by” and “under
common control with”), with respect to the relationship between or among two or more Persons, means the power to direct the affairs or management of a Person, whether through the ownership of majority of the outstanding voting securities or
the appointment of director, as trustee, personal representative or executor, by contract, credit arrangement or otherwise. 

“Applicable Law” means all applicable statutes, regulations, enactments, acts of legislature or parliament, laws, ordinances,
rules, by-laws, listing rules, notifications, guidelines or policies issued by any Governmental Authority, and all administrative interpretation, judgment, arbitral award, decree, orders or Governmental
Approvals as may be in force from time to time. 
 “Autohome” has the meaning provided in the preamble. 

“Business Day” means any day that is not a Saturday, a Sunday or other day on which banks located in any of Hong Kong, the
PRC and/or the British Virgin Islands are required or authorized by Applicable Law to be closed. 
 “Buyer” has the meaning
provided in the preamble. 
 “Closing” has the meaning provided under Section 3.4. 

“Closing Date” has the meaning provided under Section 3.4. 

“Company” has the meaning provided in the preamble. 

“Consideration for the Company” has the meaning provided in the preamble. 

“Encumbrance” means (1) any mortgage, charge (whether fixed or floating), pledge, lien (including tax lien),
hypothecation, assignment, deed of trust, title retention, security interest or other encumbrance of any kind securing, or conferring any priority of payment in respect of any obligation of any person or entity, including without limitation any
right granted by a transaction which, in legal terms, is not the granting of security but which has an economic or financial effect similar to the granting of security under Applicable Law, (ii) any proxy, power of attorney, voting trust
agreement, trust interest, option, right of first offer, negotiation or refusal or transfer restriction in favor of any person; (iii) any adverse claim or third party rights or interests as to title, votes, dividends, ownership, possession or
use and (iv) other encumbrance or security interest of any kind, or another type of preferential arrangement (including, without limitation, a title transfer or retention arrangement) having similar effect and any agreement or obligation to
create or grant any of the aforesaid. 

  
 2 

 “Equity Transfer Agreement” has the meaning provided in the preamble. 

“Governmental Authority” means any federal national, supranational, state, provincial, local, or similar government,
governmental, tax, regulatory or administrative authority, agency or commission or any court, tribunal, or judicial or arbitral body, exercising powers conferred by Applicable Law to which any Party hereto and the Company (as applicable) are
subject. 
 “Governmental Approvals” means any permit, license, approval, consent, authorization issued or granted by, or
registration or filing with, or notification to any Governmental Authority with respect to the sale and purchase of the Sale Share and all other matters contemplated under this Agreement. 

“HK$” means the lawful currency of Hong Kong. 

“Hong Kong” means the Hong Kong Special Administrative Region of the PRC. 

“Indemnified Persons” has the meaning provided under Section 8.1. 

“Indemnifying Party” has the meaning provided under Section 8.1. 

“Loss” has the meaning provided under Section 8.1. 

“Party” or “Parties” has the meaning provided in the preamble. 

“Person” means any individual, partnership, firm, company, association, trust, unincorporated organization or other entity.

 “PRC” means the People’s Republic of China; for the purpose of this Agreement, excluding the Hong Kong, the Macao
Special Administrative Region of the PRC and Taiwan. 
 “Purchase Price” has the meaning provided under Section 2.2.

 “RMB” means Renminbi, the lawful currency of the PRC. 

“Sale Share” means 1 Share, representing all the issued share capital of the Company as at the date hereof. 

“Sanctioned Country” means, at any time, a country, region or territory which is, or whose government is, the subject or
target of any Sanctions broadly restricting or prohibiting dealings with such country, region, territory or government. 

“Sanctioned Person” means, at any time, any Person with whom dealings are restricted or prohibited under Sanctions, including
(a) any Person listed in any Sanctions-related list of designated or identified Persons maintained by the United States (including by the Office of Foreign Assets Control of the U.S. Department of the Treasury, the U.S. Department of State, or
the U.S. Department of Commerce), the United Nations Security Council, the European Union or any of its member states, Her Majesty’s Treasury, Switzerland or any other relevant authority, (b) any Person located, organized or resident in,
or any Governmental Authority or governmental instrumentality of, a Sanctioned Country, or (c) any Person directly or indirectly owned by, controlled by, or acting for the benefit or on behalf of, any Person described in clauses (a) or (b)
hereof. 

  
 3 

 “Sanctions” means economic or financial sanctions or trade embargoes or
restrictive measures enacted, imposed, administered or enforced from time to time by (a) the U.S. government, including the Office of Foreign Assets Control of the U.S. Department of the Treasury, the U.S. Department of State, or the U.S.
Department of Commerce, (b) the United Nations Security Council, (c) the European Union or any of its member states, (d) Her Majesty’s Treasury, (e) Switzerland, or (f) any other relevant authority. 

“Seller” has the meaning provided in the preamble. 

“Share” means the issued ordinary share(s) in the capital of the Company. 

“Tax” means (i) in the PRC: (a) any national, provincial, municipal, or local taxes, charges, fees, levies, or
other assessments, whether based on income (including enterprise income tax and individual income tax), turnover (including value-added tax, business tax, and consumption tax), resource (including urban and township land use tax), special purpose
(including land value-added tax, urban maintenance and construction tax, and additional education fees), property (including urban real estate tax and land use fees), documentation (including stamp duty and deed tax), filing, recording, withholding,
social insurance (including pension, medical, unemployment, housing, and other social insurance withholding), tariffs (including import duty and import value-added tax), and estimated and provisional taxes, charges, fees, levies, or other
assessments of any kind whatsoever, (b) all interest, penalties (administrative, civil or criminal), or additional amounts imposed by any Governmental Authority in connection with any item described in subclause (a) above, and (c) any
form of transferee liability imposed by any Governmental Authority in connection with any item described in subclauses (a) and (b) above; and (ii) in any jurisdiction other than the PRC: all similar liabilities as described in clauses
(i)(a) and (i)(b) above. 
 “Tax Deduction” means a deduction or withholding for or on account of Tax from a payment under
this Agreement. 
 “YCYJ” has the meaning provided in the preamble. 

“YCYJ Transaction” has the meaning provided in the preamble. 

Section 1.2 Interpretation and Rules of Construction. In this Agreement, except
to the extent otherwise provided or that the context otherwise requires: 
 (a) when a reference is made in this Agreement to an Article,
Section, or Schedule, such reference is to an Article or Section of, or a Schedule or Exhibit to, this Agreement unless otherwise indicated; 

(b) the headings for this Agreement are for reference purposes only and do not affect in any way the meaning or interpretation of this
Agreement; 
 (c) the words “hereof,” “herein” and “hereunder” and words of similar import, when used in this
Agreement, refer to this Agreement as a whole and not to any particular provision of this Agreement; 

  
 4 

 (d) words in the singular include the plural, and words in the plural include the singular, and
the masculine, feminine, and neuter genders will each be deemed to include the others; and 
 (e) references to a Person are also to its
successors and permitted assigns.  
 ARTICLE 2 CANGO SHARE PURCHASE AGREEMENT 

Section 2.1 Termination of the Cango Share Purchase Agreement. Upon execution of this
Agreement, the Cango Share Purchase Agreement entered into by and between the Seller and Cango on September 19, 2017 shall terminate and be replaced and superseded by this Agreement in its entirety. 

ARTICLE 3 PURCHASE AND SALE 

Section 3.1 Purchase and Sale of the Sale Share. Upon the terms and subject to
the conditions of this Agreement, at Closing. the Seller shall sell and the Buyer shall purchase, on an as is basis, the Sale Share free from all Encumbrances and together with all rights attaching to it. 

Section 3.2 Purchase Price. The aggregate purchase price (the “Purchase
Price”) for the Sale Share shall be HK$1. 
 Section 3.3 Sources of
Funding for Purchase Price. The Buyer acknowledges that funds for the Buyer to pay the Purchase Price would be 
 (a) funds wired from
the PRC after all relevant Governmental Approvals required, if any, have been duly completed, or 
 (b) funds raised by the Buyer through
its Affiliates outside the PRC. 
 Section 3.4 Closing. Subject to the terms
and conditions of this Agreement, the sale and purchase of the Sale Share shall take place at a closing (the “Closing”) to be held at the time and place as mutually agreed by the Seller and Buyer on the fifth (5th) Business Day following the satisfaction or waiver of all of the conditions set forth under Section 7.1 below or at such other time as the Seller and the Buyer may otherwise mutually agree
upon in writing (the date of Closing being the “Closing Date”). 

Section 3.5 Closing Deliverables by the Seller. At the Closing, the Seller
shall deliver or cause to be delivered to the Buyer: 
 (a) the instrument of transfer; 

(b) the original share certificate in the name of the Seller representing the Sale Share; 

(c) (i) the originals of the certificate of incorporation, business registration certificate, all statutory registers and minute books (duly
written up to the Closing Date) if any, (ii) all common seals and chops, and (iii) all copies of articles of association or equivalent constitutional documents, in each case, of the Company; 

(d) undated letters of resignation duly signed by the existing directors and the secretary of the Company; and 

  
 5 

 (e) a copy of the resolutions in writing of the board of directors of the Company (and/or its
sole shareholder, if applicable) approving matters below, certified as a true copy by the sole director of the Company: 
  

	 	(i)	the appointment of such person(s) as the Buyer may nominate as director(s) and company secretary of the Company with effect from the Closing Date or such other date as the Buyer may designate; 

 

	 	(ii)	its approval of the resignation of the existing directors and the company secretary of the Company as nominated by the Seller, in each case as the Buyer may require, with effect from the Closing Date or such other date
as the Buyer may designate; and 

  

	 	(iii)	the approval of the transfer of the Sale Share and the registration of the Buyer as shareholder of the Company, and update of the Company’s register of members pursuant to the instrument of transfer referred to in
paragraph (a) above. 

 Section 3.6 Closing Deliverables by the Buyer.
At the Closing, the Buyer shall deliver to the Seller the entire Purchase Price in immediately available funds by wire transfer to the bank account designated in writing by the Seller to the Buyer at least five (5) Business Days prior to the
Closing Date or by any other means as mutually agreed upon by the Seller and the Buyer. 

Section 3.7 Tax Gross-up and Indemnities. 

(a) All payments to be made by the Buyer to the Seller under this Agreement shall be made without any Tax Deduction unless it is required by
Applicable Law to make a Tax Deduction. In the event a Tax Deduction is required to be made, (i) each of the Parties agrees that it is the Seller who shall perform the Tax filing and payment process in connection with the Tax Deduction, and
(ii) the sum payable by the Buyer shall be increased to the extent necessary to ensure that the Seller receives a sum net of any deduction or withholding equal to the sum which it would have received had no such Tax Deduction been made or
required to be made. 
 (b) Without prejudice to Section 3.7(a) above, if the Seller is required to make any payment of or on account
of Tax on or in relation to any sum received or receivable under this Agreement (including any sum deemed for purposes of Tax to be received or receivable by the Seller whether or not actually received or receivable) or in relation to the
transactions contemplated hereunder or if any liability in respect of any such payment is asserted, imposed, levied or assessed against the Seller, the Buyer shall, within three (3) Business Days of demand of the Seller, promptly indemnify the
Seller which suffers a loss or liability as a result against such payment or liability, together with any interest, penalties, costs and expenses payable or incurred in connection therewith. 

ARTICLE 4 REPRESENTATIONS AND WARRANTIES OF THE SELLER 

Except as otherwise provided herein, the Seller hereby represents and warrants to the Buyer as of the date hereof and as of the Closing Date
(except to the extent such representations and warranties are made as of another date as specified hereunder): 
 
Section 4.1 Authority and Qualification of the Seller; Due Execution. 

  
 6 

 (a) The Seller is an entity duly organized and validly existing under the laws of the British
Virgin Islands, and has full power, authority and legal right to own its property and assets and to carry on its business. 
 (b) The
execution and delivery by the Seller of this Agreement, the performance by the Seller of its obligations hereunder and the consummation by the Seller of the transactions contemplated hereby have been duly authorized by all requisite action on the
part of the Seller and shall not result in a material violation of any provision of any Applicable Law. This Agreement has been duly executed and delivered by the Seller, and (assuming due authorization, execution and delivery by the Buyer) this
Agreement constitutes legal, valid and binding obligations of the Seller, enforceable against it in accordance with its terms. 
 
Section 4.2 Organization and Qualification of the Company. The Company is duly organized, validly existing and in good standing under the laws of Hong Kong. A true and correct copy of the memorandum and articles
of association or equivalent constitutional documents of the Company as in effect on the date hereof has been delivered by the Company to the Buyer. 

(b) There has been no resolution or application made for the winding up of the Company and the Company is not in receivership or liquidation,
and it has not taken any steps to enter liquidation. 
 Section 4.3
Capitalization and Sale Share The entire issued share capital of the Company comprise of 1 Share, amounting to HK$1. All share capital of the Company is legally and beneficially owned by the Seller, free of all Encumbrances and with all
rights attaching or accruing to them. The Sale Share is validly issued and credited as fully paid up, free of further capital contribution obligations. The Seller is entitled to transfer full legal and beneficial ownership of the Sale Share to the
Buyer free of all Encumbrances, and at Closing the Buyer will acquire good and valid legal and beneficial title to the relevant Sale Share, free of all Encumbrances. 

Section 4.4 No Conflict. The execution, delivery and performance of this
Agreement by the Seller do not conflict with or violate any Applicable Law. 

Section 4.5 Governmental Approvals. The execution, delivery and performance of
this Agreement by the Seller do not and will not require any consent, approval, authorization or other order of any Governmental Authority on the part of the Seller. 

Section 4.6 Liabilities. Except for those in connection with the YCYJ
Transaction, no liabilities, contingent liabilities or commitments shall have been incurred or made by the Company as of the Closing Date. 

Section 4.7 No Additional Representations and Warranties. The representations
and warranties provided by the Seller under in this ARTICLE 4 are in lieu of all other representations and warranties however provided under Applicable Law or arising from any Applicable Law in connection with the sale and purchase of the Sale
Share. No representations and warranties, either express or implied, are made or given by the Seller with respect to the Sale Share other than those specifically provided under this ARTICLE 4. Without prejudice to the representations and warranties
set out under this ARTICLE 4 and the right of the Buyer to be indemnified in accordance with ARTICLE 8 below in case of breach thereof, it is acknowledged by the Buyer that the Sale Share are sold on an “as is basis”, with no
representations and warranties on the Company’s performance relating to the period prior to or after the Closing, on the business prospects of the Company, as well as on the good standing and state of any of its assets or contracts if any. 

  
 7 

 ARTICLE 5 REPRESENTATIONS AND WARRANTIES OF THE BUYER 

The Buyer hereby represents and warrants to the Seller as follows: 

Section 5.1 Organization and Authority of the Buyer; Due Execution. 

(a) The Buyer is an entity duly organized and validly existing under the laws of Hong Kong and has all necessary corporate power and authority
to enter into this Agreement, to carry out its obligations hereunder and to consummate the transactions contemplated hereby. 
 (b) The
execution and delivery by the Buyer of this Agreement, the performance by the Buyer of its obligations hereunder and the consummation by the Buyer of the transactions contemplated hereby have been duly authorized by all requisite corporate action on
the part of the Buyer and shall not result in a material violation of any provision of any Applicable Law. This Agreement has been duly executed and delivered by the Buyer, and (assuming due authorization, execution and delivery by the Seller) this
Agreement constitutes legal, valid and binding obligations of the Buyer, enforceable against it in accordance with its terms. 
 
Section 5.2 No Conflict. The execution, delivery and performance by the Buyer of this Agreement do not and will not (a) violate, conflict with or result in the breach of any provision of the articles of
association or by-laws of the Buyer, or (b) 
conflict with or violate any Applicable Law. 
 Section 5.3 Governmental
Approvals. The execution, delivery and performance of this Agreement by the Buyer do not and will not require any consent, approval, authorization or other order of, action by, filing with or notification to, any Governmental Authority on the
part of the Buyer. 
 Section 5.4 Anti-Money Laundering and No Sanctions.
None of the Buyer or any of its Affiliates has violated or is in violation of any Applicable Law relating to anti-money laundering or Sanctions. No source of funding for the Purchase Price relates, directly or indirectly, to any activities or
business of or with a Sanctioned Person or with or in a Sanctioned Country, or any activities or business in violation of any Applicable Law relating to anti-money laundering. 

Section 5.5 No Additional Representations and Warranties. The
representations and warranties provided by the Buyer under in this ARTICLE 5 are in lieu of all other representations and warranties however provided under Applicable Law or arising from any Applicable Law in connection with the sale and purchase of
the Sale Share. No representations and warranties, either express or implied, are made or given by the Buyer with respect to the Sale Share other than those specifically provided under this ARTICLE 5. 

ARTICLE 6 ADDITIONAL AGREEMENTS 

Section 6.1 Non-Violation. Pending the
Closing, each of the Parties, without the prior written consent of the others, shall not take any action which would result in any of the covenants contained in this Agreement becoming incapable of performance. 

Section 6.2 Post-Closing Actions. Immediately after the Closing, each of the
Seller and the Buyer_shall cooperate with the other Party and use its best efforts to take all actions in completing required filing as a result of the transactions hereunder with the applicable Governmental Authorities. 

Section 6.3 Post-Closing Liabilities. As from the Closing Date, the Buyer
shall acquire title to the Sale Share together with all rights and risks attaching to it. The Buyer hereby agrees and acknowledges that the Seller shall not be liable for any liabilities incurred or made by the Company as from the Closing Date. 

  
 8 

 ARTICLE 7 CONDITIONS TO CLOSING 

Section 7.1 Conditions to Obligations of the Buyer. The obligations of the
Buyer to consummate the transactions contemplated by this Agreement shall be subject to the satisfaction or written waiver by the Buyer, at or prior to the Closing, of the following conditions: 

(a) Representations and Warranties. The representations and warranties given by the Seller in this Agreement shall have been true,
accurate and not misleading in all material respects when made and shall be true, accurate and not misleading in all material respects as of the Closing with the same force and effect as if made as of the Closing, except to the extent such
representations and warranties are as of another date, in which case, such representations and warranties shall be true, accurate and not misleading in all material respects as of that date with the same force and effect as if made as of the
Closing. 
 (b) No Applicable Legal Prohibition. No provision of any Applicable Law and no judgment, injunction, order or decree
shall prohibit the consummation of the Closing. 
 Section 7.2 Conditions to
Obligations of the Seller. The obligations of the Seller to consummate the transactions contemplated by this Agreement shall be subject to the satisfaction or written waiver by the Seller, at or prior to the Closing, of the following condition:

 (a) Representations and Warranties. The representations and warranties given by the Buyer in this Agreement shall have been true,
accurate and not misleading in all material respects when made and shall be true, accurate and not misleading in all material respects as of the Closing with the same force and effect as if made as of the Closing, except to the extent such
representations and warranties are as of another date, in which case, such representations and warranties shall be true, accurate and not misleading in all material respects as of that date with the same force and effect as if made as of the
Closing. 
 (b) No Applicable Legal Prohibition. No provision of any Applicable Law and no judgment, injunction, order or decree
shall prohibit the consummation of the Closing. 
 ARTICLE 8 INDEMNIFICATION 

Section 8.1 Indemnification. Each of the Seller and the Buyer as well as their
successors and permitted assigns (the “Indemnified Persons”) shall be indemnified and held harmless by the other (the “Indemnifying Party”) for and against any and all losses, damages, claims, costs and expenses,
interest, liabilities, awards, judgments and penalties (including costs of investigation and defense and reasonable attorneys’ fees) suffered or incurred by them (including any Action brought or otherwise initiated by any of them) (hereinafter
a “Loss”), directly or indirectly arising out of or in connection with: 
 (a) any breach of any representation or warranty
made by the Indemnifying Party in this Agreement; and 
 (b) any breach or non-performance of any
covenant or agreement of the Indemnifying Party in this Agreement. 

  
 9 

 ARTICLE 9 GENERAL PROVISIONS 

Section 9.1 Expenses. Except as otherwise specified in this Agreement, all costs and
expenses, including fees and disbursements of counsel, financial advisors and accountants, incurred in connection with this Agreement and the transactions contemplated by this Agreement shall be paid by the Buyer, whether or not the Closing shall
have occurred. 
 Section 9.2 Notices. All notices, requests, claims, demands and other
communications hereunder shall be in writing and shall be deemed to have been effectively given: (a) when hand delivered to the other Parties, upon personal delivery to the such Parties to be notified; (b) when sent by fax, upon receipt by
the sender of confirmation by the sender’s fax machine that the notification has been received by the addressee’s fax machine; (c) when sent by email, upon receipt by the sender’s email system of the message confirming that the
email has been successfully delivered; (d) three (3) Business Days after delivery by an internationally recognized courier if sent by courier service. All communications shall be sent to the following addresses: 

 

			
	 if to the Seller: 
	 	
		
	 Attention:
	 	Steven Glenn
		
	 Address:
	 	Warburg Pincus Asia LLC, 450 Lexington Avenue, New York 10017, USA
		
	 Email:
	 	steven.glenn@warburgpincus.com
		
	 Fax:
	 	(852) 2539 4322
		
	 if to Cango:
	 	
		
	 Attention:
	 	Yun Ye
		
	 Address:
	 	Level 10, Building 3, Youyou Century Plaza, No. 428 Yang Gao South Road, Pudong New District, Shanghai
		
	 Email:
	 	yeyun@cangoonline.com
		
	 Fax:
	 	(8621) 31830015
		
	 if to the Buyer:
	 	
		
	 Attention:
	 	Yun Ye
		
	 Address:
	 	Level 10, Building 3, Youyou Century Plaza, No. 428 Yang Gao South Road, Pudong New District, Shanghai
		
	 Email:
	 	yeyun@cangoonline.com
		
	 Fax:
	 	(8621) 31830015

 Section 9.3 Public Announcements. No Party hereto shall
make, or cause to be made, any press release or public announcement in respect of this Agreement or the transactions contemplated hereby or otherwise communicate with any news media without the prior written consent of the other Parties. 

  
 10 

 Section 9.4 Confidentiality. Each of the
Parties agrees to, and shall cause its Affiliates and its officers, directors, employees, agents, representatives, accountants and counsel to treat and hold as confidential (and not disclose or provide access to any other Person to) (a) the
existence and any content of this Agreement as well as the transactions contemplated hereby and (b) any non-public information relating to the other Parties and its direct or indirect shareholders and
their respective directors, officers and employees, unless otherwise consented to in writing by such Parties or compelled to be disclosed by judicial or administrative process or by other requirements of Applicable Law. 

Section 9.5 Severability. If any term or other provision of this Agreement is invalid,
illegal or incapable of being enforced by any Applicable Law or public policy, all other terms and provisions of this Agreement shall nevertheless remain in full force and effect for so long as the economic or legal substance of the transactions
contemplated hereby is not affected in any manner materially adverse to the Parties. Upon such determination that any term or other provision is invalid, illegal or incapable of being enforced, the Parties shall negotiate in good faith to modify
this Agreement so as to effect the original intent of the Parties as closely as possible in an acceptable manner in order that the transactions contemplated hereby are consummated as originally contemplated to the greatest extent possible. 

Section 9.6 Entire Agreement. This Agreement constitutes the entire agreement of the Parties
with respect to the subject matter hereof and supersedes all prior agreements and undertakings, both written and oral, among the Parties with respect to the subject matter hereof. 

Section 9.7 Assignment. This Agreement shall be binding upon and inure to the benefit of the
successors-in-title and permitted assignees of each Party. This Agreement may not be assigned by operation of law or otherwise without the express written consent of the
Parties. 
 Section 9.8 Amendment. This Agreement may not be amended or modified except
(a) by an instrument in writing signed by, or on behalf of, the Parties or (b) by a waiver in accordance with Section 
9.9. 
 Section 9.9 Waiver. Any extension or waiver in connection with this
Agreement shall be valid only if set forth in an instrument in writing signed by the Party to be bound thereby. Any waiver of any term or condition shall not be construed as a waiver of any subsequent breach or a subsequent waiver of the same term
or condition, or a waiver of any other term or condition of this Agreement. The failure of any Party to assert any of its rights hereunder shall not constitute a waiver of any of such rights. All rights and remedies existing under this Agreement are
cumulative to, and not exclusive of, any rights or remedies otherwise available. 

Section 9.10 No Third Party Beneficiaries. Except for the provisions of
Section 8.1 relating to Indemnified Persons and the provisions of Section 9.7, this Agreement shall be binding upon and inure solely to the benefit of the Parties and their respective successors and permitted assigns and nothing herein,
express or implied, is intended to or shall confer upon any other Person any legal or equitable right, benefit or remedy of any nature whatsoever. 

Section 9.11 Specific Performance. Each of the Parties acknowledges and agrees
that the other Parties would be irreparably damaged if any of the provisions of this Agreement are not performed in accordance with their specific terms. Accordingly, in addition to any other right or remedy to which the other Parties may be
entitled, at law or in equity, such Parties shall be entitled to enforce any provision of this Agreement by a decree of specific performance and to temporary, preliminary and permanent injunctive relief to prevent breaches or threatened breaches of
any of the provisions of this Agreement, without posting any bond or other undertaking. 

  
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 Section 9.12 No Presumption. The
Parties acknowledge that any Applicable Law that would require interpretation of any claimed ambiguities in this Agreement against the Party that drafted it has no application and is expressly waived. If any claim is made by a Party relating to any
conflict, omission or ambiguity in the provisions of this Agreement, no presumption or burden of proof or persuasion will be implied because this Agreement was prepared by or at the request of any Party or its counsel. 

Section 9.13 Governing Law. This Agreement shall be governed by, and construed
in accordance with, the laws of Hong Kong, without regard to principles of conflict of laws thereunder. 

Section 9.14 Dispute Resolution. All disputes among the Parties arising out of
or relating to this Agreement shall be finally settled by arbitration. The arbitration shall be conducted in Hong Kong under the auspices of the Hong Kong International Arbitration Centre (“HKIAC”) in accordance with the Hong Kong
International Arbitration Centre Administered Arbitration Rules in effect at the time of the arbitration. The arbitral procedure shall be conducted in the English language. The number of arbitrators shall be three. The arbitral award shall be final,
binding and conclusive on the Parties and may be enforced and entered as a judgment in any court of law with jurisdiction thereof. The costs of arbitration shall be borne by the losing Party. During the course of the arbitral tribunal’s
adjudication of the dispute, this Agreement shall continue to be performed except with respect to the part in dispute and under adjudication. Regardless of anything else contained herein, any Party shall be entitled to seek preliminary injunctive
relief from any court of competent jurisdiction pending the conclusion of the arbitration. 

Section 9.15 Counterparts. This Agreement may be executed and delivered
(including by facsimile transmission) in one or more counterparts, and by the Parties in separate counterparts, each of which when executed shall be deemed to be an original, but all of which taken together shall constitute one and the same
agreement. 
 [SIGNATURES ON NEXT PAGES] 

  
 12 

 IN WITNESS WHEREOF, the Parties have executed and delivered this Agreement on the date
first written on this document. 
  

			
	PARADIGM MALLS GROUP LIMITED
		
	By:	 	/s/ Steven Glenn
	Name:	 	Steven Glenn
	Title:	 	Authorized signatory

 Signature Page to Share Purchase Agreement 

 IN WITNESS WHEREOF, the Parties have executed and delivered this Agreement on the date
first written on this document. 
 SHANGHAI CANGO INVESTMENT MANAGEMENT CONSULTING SERVICE CO., LTD. 

 

			
	By: 	 	/s/ ZHANG Xiaojun

 
			
	Name:
	Title: Legal representative

 Signature Page to Share Purchase Agreement 

 IN WITNESS WHEREOF, the Parties have executed and delivered this Agreement on the date
first written on this document. 
  
  

 

			
	CANGO GROUP LIMITED
		
	By:	 	/s/ ZHANG Xiaojun
	Name:	 	
	Title:	 	Authorized signatory

 Signature Page to Share Purchase Agreement

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