Document:

Exhibit 4.6

 

Form of Equity Interest Pledge Agreement

 

This Equity Interest Pledge Agreement (“this Agreement”) has been executed by and among the following parties on                in                the People’s Republic of China (“China”):

 

	
Party A:
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
Address:
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
Party B:
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
Party C:
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
Party D:
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
Address:
    	
 
    	
 
    

 

In this Agreement, Party B and Party C shall be collectively referred to as the “Pledgors”; each of Party A, Party B, Party C and Party D shall be referred to as a “Party” respectively, and collectively referred to as the “Parties.”

 

Whereas:

 

1.              Pledgors are citizens of China, and totally hold 100% of the equity interest in Party D. Party D is a limited liability company registered in Guangzhou, China, engaging in technical consulting service. Party D acknowledges the respective rights and obligations of Pledgors and Pledgee under this Agreement, and intends to provide any necessary assistance in registering the Pledge with the competent governmental authorities;

 

2.              Pledgee is a wholly foreign-owned enterprise registered in China. Pledgee and Party D owned by Pledgors have executed an Exclusive Business Cooperation Agreement on               as set forth in the Attachment 3 of this Agreement (the “Business Cooperation Agreement”);

 

3.              Pledgee and Party B have executed a Loan Agreement on                       as set forth in the Attachment 5 of this Agreement (the “Loan Agreement”);

 

4.              Pledgee, Pledgors and Party D have executed a Exclusive Option Agreement on                     (the “Exclusive Option Agreement”);

 

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5.              Pledgors are all the shareholders of Party D.

 

6.              To ensure that Party D, Pledgors fully performs its or his obligations under the Business Cooperation Agreement, the Loan Agreement and/or the Exclusive Option Agreement and pay the consulting and service fees and repay the loan and the accrued interest thereunder to Pledgee when the same becomes due, Pledgors hereby pledge to Pledgee all of the equity interest they now and in the future hold in Party D (whether or not the percentage of the equity interest is changed in the future) as collateral for payment of the consulting and service fees by Party D under the Business Cooperation Agreement and repayment of the loan and the accrued interest by Party B under the Loan Agreement.

 

To perform the provisions of the Business Cooperation Agreement, the Framework Agreement, the Loan Agreement and/or the Exclusive Option Agreement, the Parties have agreed to execute this Agreement upon the following terms.

 

1.                  Definitions

 

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

 

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

 

1.2           Equity Interest: shall refer to all of the equity interest lawfully now held and hereafter acquired by Pledgors in Party D (whether or not the percentage of the equity interest is changed in the future).

 

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

 

1.4           Business Cooperation Agreement: shall refer to the Exclusive Business Cooperation Agreement executed by and between Party D and Pledgee on                           , as such may be amended from time to time.

 

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

 

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

 

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2.              The Pledge

 

As collaterals for the timely and complete payment and performance when due  (whether at stated maturity, by acceleration or otherwise) of any or all of the payments due by Party D, including without limitation, the consulting and services fees payable to Pledgee under the Business Cooperation Agreement, and the timely and complete repayment when due the loan and the accrued interest under the Loan Agreement by Party B, the Pledgors hereby pledge to Pledgee a first security interest in all of Pledgors’ rights, title and interests, whether now owned or hereafter acquired by Pledgors, in the Equity Interest of Party D.

 

3.              Term of Pledge

 

3.1                 The Pledge shall become effective on such date when the pledge of the Equity Interest contemplated herein has been registered with relevant administration for industry and commerce (the “AIC”). The Pledge shall be continuously valid until all payments due under the Business Cooperation Agreement, the Framework Agreement, the Loan Agreement and the Exclusive Option Agreement have been fulfilled by Party D. Pledgors and Party D shall (1) register the Pledge in the shareholders’ register of Party D within 3 business days following the execution of this Agreement, and (2) submit an application to the AIC for the registration of the Pledge of the Equity Interest contemplated herein within 10 business days following the execution of this Agreement. The parties covenant that for the purpose of registration of the Pledge (including re-registration of the Pledge when the percentage of equity interest the Pledgors hold in Party D), the Parties hereto shall submit to the AIC the Equity Interest Pledge Contract as set forth in the Attachment 4 of this Agreement in the form required by the AIC at the location of Party D which shall truly reflect the information of the Pledge hereunder (the “AIC Pledge Contract”).  For matters not specified in the AIC Pledge Contract, the parties shall be bound by the provisions of this Agreement. Pledgors and Party D shall submit all necessary documents and complete all necessary procedures, as required by the PRC laws and regulations and the relevant AIC, to ensure that the Pledge of the Equity Interest shall be registered with the AIC as soon as possible after filing.

 

3.2                 During the Term of Pledge, in the event Party D fails to pay the exclusive consulting or service fees in accordance with the Business Cooperation Agreement, or Party B fails to repay and loan and the accrued interest in accordance with the Loan Agreement, Pledgee shall have the right, but not the obligation, to dispose of the Pledge in accordance with the provisions of this Agreement.

 

4.              Custody of Records for Equity Interest subject to Pledge

 

4.1                 During the Term of Pledge set forth in this Agreement, Pledgors shall deliver to Pledgee’s custody the original capital contribution certificate for the Equity Interest (the Attachment 2) and the original shareholders’ register containing the Pledge (the Attachment 1) within five (5) working days from the execution of this Agreement or from completion of the re-registration of shareholding when percentage of equity interest changed (in that case, Pledgors shall deliver to Pledgee’s custody the updated original capital contribution certificate for the Equity Interest and the updated original shareholders’ register containing the Pledge as attachment to this Agreement). Pledgee shall have custody of such original documents during the entire Term of Pledge set forth in this Agreement.

 

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

 

5.              Representations and Warranties of Pledgors

 

5.1                 Pledgors are the sole legal and beneficial owners of the Equity Interest.

 

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

 

5.3                 Upon execution, this Agreement shall constitute the Pledgors’s legal, valid and binding obligations in accordance with the provisions herein.

 

5.4                 Except for the Pledge, Pledgors have not placed any security interest or other encumbrance on the Equity Interest.

 

5.5                 There is no pending disputes or litigation proceeding related to the Equity Interest.

 

6.              Covenants and Further Agreements of Pledgors

 

6.1                 Pledgors hereby covenant to Pledgee, that during the term of this Agreement, Pledgors shall:

 

6.1.1                     not transfer the Equity Interest, place or permit the existence of any security interest or other encumbrance on the Equity Interest, or disposal of the Equity Interest in any other means, without the prior written consent of Pledgee, except for the performance of the Exclusive Option Agreement executed by Pledgors, Pledgee and Party D on the execution date of this Agreement;

 

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

 

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

 

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

 

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

 

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

 

6.5                     Pledgors hereby acknowledge that the transfer of equity interest under the Original Equity Interest Pledge Agreement shall not release the pledge of such equity interest.

 

7.              Event of Breach

 

7.1                 The following circumstances shall be deemed Event of Default:

 

7.1.1                    Party D fails to fully and timely fulfill any liabilities under the Business Cooperation Agreement or the Framework Agreement, including without limitation failure to pay in full any of the consulting and service fees payable under the Business Cooperation Agreement, or breaches any other obligations of Party D thereunder; or Party B fails to fully and timely fulfill any liabilities under the Loan Agreement, including without limitation failure to repay in full any of the loan or the accrued interest repayable under the Loan Agreement, or breaches any other obligations of Party B thereunder;

 

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7.1.2                    Pledgors or Party D has committed a material breach of any provisions of this Agreement;

 

7.1.3                    The Pledgors and Party D fail to register the Pledge in the shareholders’ register of Party D or fail to complete the Registration of Pledge stipulated in Section 3.1;

 

7.1.4                    Except as expressly stipulated in Section 6.1.1, Pledgors transfer or purport to transfer or abandon the Equity Interest pledged or assign the Equity Interest pledged without the written consent of Pledgee; and

 

7.1.5                    The successor or custodian of Party D is capable of only partially performing or refuse to perform the payment obligations under the Business Cooperation Agreement, or the successor or custodian of Party B is capable of only partially performing or refuse to perform the repayment obligations under the Loan Agreement.

 

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

 

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

 

8.              Exercise of Pledge

 

8.1                 Prior to the full payment of the consulting and service fees described in the Business Cooperation Agreement and full repayment of the loan and the accrued interest under the Loan Agreement, without Pledgee’s written consent, Pledgors shall not assign the Pledge or the Equity Interest in Party D.

 

8.2                 Pledgee may issue a Notice of Default to Pledgors when exercising the Pledge.

 

8.3                 Subject to the provisions of Section 7.3, Pledgee may exercise the right to enforce the Pledge at the time when, or at any time after, the issuance of the Notice of Default in accordance with Section 8.2. Once Pledgee elects to enforce the Pledge, Pledgors shall cease to be entitled to any rights or interests associated with the Equity Interest.

 

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8.4                 In the event of default, Pledgee is entitled to dispose of the Equity Interest pledged in accordance with applicable PRC laws. Only to the extent permitted under applicable PRC laws, Pledgee has no obligation to account to Pledgors for proceeds of disposition of the Equity Interest, and Pledgors hereby waive any rights they may have to demand any such accounting from Pledgee; Likewise, in such circumstance Pledgors shall have no obligation to Pledgee for any deficiency remaining after such disposition of the Equity Interest pledged.

 

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

 

9.              Assignment

 

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

 

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

 

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

 

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

 

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

 

10.  Termination

 

Upon the full payment of the consulting and service fees under the Business Cooperation Agreement, the full repayment of the loan and the accrued interest under the Loan Agreement and upon termination of Party B and Party D’s obligations under the Business Cooperation Agreement and the Loan Agreement, this Agreement shall be terminated, and Pledgee shall then cancel or terminate this Agreement as soon as reasonably practicable.

 

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11.  Handling Fees and Other Expenses

 

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

 

12.  Confidentiality

 

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

 

13.  Governing Law and Resolution of Disputes

 

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

 

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

 

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

 

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14.  Notices

 

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

 

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

 

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

 

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

 

	
Party A:
    	
 
    	
 
    
	
Address:
    	
 
    	
 
    
	
Attn:
    	
 
    	
 
    
	
Phone:
    	
 
    	
 
    
	
Facsimile:
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
Party   B:
    	
 
    	
 
    
	
Address:
    	
 
    	
 
    
	
Phone:
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
Party C:
    	
 
    	
 
    
	
Address:
    	
 
    	
 
    
	
Phone:
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
Party D:
    	
 
    	
 
    
	
Address:
    	
 
    	
 
    
	
Attn:
    	
 
    	
 
    
	
Phone:
    	
 
    	
 
    
	
Facsimile:
    	
 
    	
 
    

 

14.5              Any Party may at any time change its address for notices by a notice delivered to the other Parties in accordance with the terms hereof.

 

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15.  Severability

 

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

 

16.  Attachments

 

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

 

17.  Effectiveness

 

17.1             Any amendments, changes and supplements to this Agreement shall be in writing and shall become effective upon completion of the governmental filing procedures (if applicable) after the affixation of the signatures or seals of the Parties.

 

17.2             The Parties agree that this Agreement shall replace the Original Equity Interest Pledge Agreement after this Agreement becomes effective.

 

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

 

[The Remainder of this page is intentionally left blank]

 

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

 

	
Party A:
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
By:
    	
 
    	
 
    
	
Name:
    	
 
    	
 
    
	
Title:
    	
Legal Representative
    	
 
    

 

 

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

 

	
Party B:
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
Party C:
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    

 

 

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

 

	
Party D:
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
By:
    	
 
    	
 
    
	
Name:
    	
 
    	
 
    
	
Title:
    	
Legal Representative
    	
 
    

 

 

Attachments:

 

1.                              Shareholders’ Register of                                                                        ;

 

2.                              The Capital Contribution Certificate for                                                                      ;

 

3.                              Exclusive Business Cooperation Agreement;

 

4.                              Equity Interest Pledge Contract;

 

5.                              Loan Agreement.

 

 

Schedule A

 

The following schedule sets forth other major similar agreements the registrant entered into with each of its consolidated affiliated entities and its shareholders. Other than the information set forth below, there is no material difference between such other agreements and this exhibit.

 

	
Consolidated   Affiliated Entities
    	
 
    	
Executing Parties
    	
 
    	
Execution Date
    
	
Guangzhou Vipshop E-Commerce Co., Ltd.
    	
 
    	
Party A: Vipshop (China)   Co., Ltd.
   Party B: Eric Ya Shen
   Party C: Arthur Xiaobo Hong
   Party D: Guangzhou Vipshop E-Commerce Co., Ltd.
    	
 
    	
July 13,   2017
    
	
Guangzhou Vipshop Information Technology Co., Ltd.
    	
 
    	
Party A: Vipshop   (China) Co., Ltd.
   Party B: Eric Ya Shen
   Party C: Arthur Xiaobo Hong
   Party D: Guangzhou Vipshop Information Technology Co., Ltd.
    	
 
    	
December 23,   2015
    
	
Pin Jun Tong Enterprise Management & Consulting   Co., Ltd.
    	
 
    	
Party A: Vipshop (China)   Co., Ltd.
   Party B: Eric Ya Shen
   Party C: Arthur Xiaobo Hong
   Party D: Vipshop (China) Co., Ltd.
   Party D: Pin Jun Tong Enterprise Management & Consulting   Co., Ltd.
    	
 
    	
December 15,   2017
    
	
Shanghai Pinjian E-Commerce Co., Ltd. (currently known as   Tianjin Pinjian E-Commerce Co., Ltd.)
    	
 
    	
Party A: Lefeng (Shanghai)   Information Technology Co., Ltd.
   Party B: Eric Ya Shen
   Party C: Zhihui Yu
   Party D: Shanghai Pinjian E-Commerce Co., Ltd. (currently known as   Tianjin Pinjian E-Commerce Co., Ltd.)
    	
 
    	
June 24,   2014Exhibit 4.7

 

Form of  Exclusive Option Agreement

 

This Exclusive Option Agreement (“this Agreement”) is executed by and among the Parties below as of              , in              , the People’s Republic of China (“China”):

 

	
Party   A:
    	
 
    	
;
    
	
 
    	
 
    	
 
    
	
Party B:
    	
 
    	
;
    
	
 
    	
 
    	
 
    
	
Party   C:
    	
 
    	
;
    
	
 
    	
 
    	
 
    
	
Party   D:
    	
 
    	
.
    

 

In this Agreement, Party A and Party B shall be collectively referred to as the “Shareholders”; each of Party A, Party B, Party C and Party D shall be referred to as a “Party” respectively, and collectively referred to as the “Parties.”

 

Whereas:

 

1.                            The Shareholders collectively hold 100% of the equity interest in Party D;

 

2.                            The Shareholders jointly and severally agree to grant Party C an exclusive right through this Agreement, and Party C agrees to accept such exclusive right to purchase all or part equity interest held by the Shareholders in Party D;

 

3.                            Party C is a wholly foreign-owned enterprise registered in China.

 

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4.                            In consideration of the entering into and the performance by Party C of the Business Cooperation Agreement and to ensure that Party D should perform its obligations under the Business Cooperation Agreement upon mutual discussion and negotiation, the Parties have reached the following agreement:

 

1.                  Sale and Purchase of Equity Interest

 

1.1                     Option Granted

 

The Shareholders hereby, jointly and severally, irrevocably grant Party C an irrevocable and exclusive right to purchase, or designate one or more persons (each, a “Designee”) to purchase the equity interests in Party D now or then held by the Shareholders (regardless whether the Shareholders’ capital contribution and/or percentage of shareholding is changed or not in the future) once or at multiple times at any time in part or in whole at Party C’s sole and absolute discretion to the extent permitted by Chinese laws and at the price described in Section 1.3 herein (such right being the “Equity Interest Purchase Option”). Except for Party C and the Designee(s), no other person shall be entitled to the Equity Interest Purchase Option or other rights with respect to the equity interests of the Shareholders. Party D hereby agrees to the grant by the Shareholders of the Equity Interest Purchase Option to Party C. The term “person” as used herein shall refer to individuals, corporations, partnerships, partners, enterprises, trusts or any other type of economic entity.

 

1.2                     Steps for Exercise of Equity Interest Purchase Option

 

Subject to the provisions of the laws and regulations of China, Party C may exercise the Equity Interest Purchase Option by issuing a written notice to the Shareholders (the “Equity Interest Purchase Option Notice”), specifying: (a) Party C’s decision to exercise the Equity Interest Purchase Option; (b) the portion of equity interests to be purchased from the Shareholders (the “Optioned Interests”); and (c) the date for purchasing the Optioned Interests.

 

1.3                     Equity Interest Purchase Price

 

The purchase price of the Optioned Interests (the “Base Price”) shall be RMB 10.  If appraisal is required by the laws of China at the time when Party C exercises the Equity Interest Purchase Option, the Parties shall negotiate in good faith and based on the appraisal result make necessary adjustment to the Equity Interest Purchase Price so that it should be the lowest price permissible under the then applicable laws of China (collectively, the “Equity Interest Purchase Price”).

 

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1.4                     Transfer of Optioned Interests

 

For each exercise of the Equity Interest Purchase Option:

 

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

 

1.4.2                    Each of the Shareholders shall make written statements regarding his/her consent to the transfer of the equity interest to Party C and/or the Designee(s) and waiving any right of first refusal related thereto.

 

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

 

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

 

2.                  Covenants

 

2.1                     Covenants regarding Party D

 

The Shareholders (as the shareholders of Party D) and Party D hereby covenant as follows:

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

2.1.14             At the request of Party C, they shall appoint any persons designated by Party C as the director and/or executive director of Party D.

 

2.2                     Covenants of the Shareholders and Party D

 

The Shareholders hereby covenants as follows:

 

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

 

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

 

2.2.3                    The Shareholders shall cause the shareholders’ meeting or the board of directors and/or executive director of Party D not to approve the merger or consolidation with any person, or the acquisition of or investment in any person, without the prior written consent of Party C;

 

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

 

2.2.5                    The Shareholders shall cause the shareholders’ meeting or the board of directors and/or executive director of Party D to vote their approval of the transfer of the Optioned Interests as set forth in this Agreement and to take any and all other actions that may be requested by Party C;

 

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2.2.6                    To the extent necessary to maintain the Shareholders’ ownership in Party D, the Shareholders shall execute all necessary or appropriate documents, take all necessary or appropriate actions and file all necessary or appropriate complaints or raise necessary and appropriate defenses against all claims;

 

2.2.7                    The Shareholders shall appoint any designee of Party C as the director and/or executive director of Party D, at the request of Party C;

 

2.2.8                    At the request of Party C at any time, the Shareholders shall promptly and unconditionally transfer their equity interests in Party D to Party C’s Designee(s) in accordance with the Equity Interest Purchase Option under this Agreement, and the Shareholders hereby waive their rights of first refusal (if any) to the share transfer by the other existing shareholder of Party D (if any); and

 

2.2.9                    The Shareholders shall strictly abide by the provisions of this Agreement and other contracts jointly or separately executed by and among the Shareholders, Party D and Party C, perform the obligations hereunder and thereunder, and refrain from any action/omission that may affect the effectiveness and enforceability thereof. To the extent that the Shareholders have any remaining rights with respect to the equity interests subject to this Agreement hereunder or under the Shareholders’  Equity Interest Pledge Agreement or under the Power of Attorney granted in favor of Party C, the Shareholders shall not exercise such rights except in accordance with the written instructions of Party C.

 

3.                  Representations and Warranties

 

The Shareholders and Party D hereby represent and warrant to Party D, jointly and severally, as of the date of this Agreement and each date of transfer of the Optioned Interests, that:

 

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

 

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

 

3.3                     The Shareholders have good and merchantable title to the equity interests in Party D they hold. Except for the Shareholders’ Equity Interest Pledge Agreement, the Shareholders have not placed any security interest on such equity interests;

 

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

 

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

 

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

 

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

 

4.                  Effective Date

 

4.1                     This Agreement shall become effective upon the date hereof, and remain effective for a term of 10 years, and may be renewed for an additional period at Party D’s election and decision. Any extended term of this Agreement shall be further extended at Party D’s election.

 

5.                  Governing Law and Resolution of Disputes

 

5.1                     Governing Law

 

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

 

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5.2                     Methods of Resolution of Disputes

 

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

 

6.                  Taxes and Fees

 

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

 

7.                  Notices

 

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

 

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

 

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

 

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

 

	
Party A:
    	
 
    	
 
    
	
Address:
    	
 
    	
 
    
	
Phone:
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
Party B:
    	
 
    	
 
    
	
Address:
    	
 
    	
 
    
	
Phone:
    	
 
    	
 
    

 

8

 

	
Party C:
    	
 
    	
 
    
	
Address:
    	
 
    	
 
    
	
Attn:
    	
 
    	
 
    
	
Phone:
    	
 
    	
 
    
	
Facsimile:
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
Party D:
    	
 
    	
 
    
	
Address:
    	
 
    	
 
    
	
Attn:
    	
 
    	
 
    
	
Phone:
    	
 
    	
 
    
	
Facsimile:
    	
 
    	
 
    

 

7.3                     Any Party may at any time change its address for notices by a notice delivered to the other Parties in accordance with the terms hereof.

 

8.                  Confidentiality

 

The Parties acknowledge that any oral or written information exchanged among them with respect to this Agreement is confidential information. Each Party shall maintain the confidentiality of all such information, and without obtaining the written consent of other Parties, it shall not disclose any relevant information to any third parties, except in the following circumstances: (a) such information is or will be in the public domain (provided that this is not the result of a public disclosure by the receiving party); (b) information disclosed as required by applicable laws or rules or regulations of any stock exchange; or (c) information required to be disclosed by any Party to its legal counsel or financial advisor regarding the transaction contemplated hereunder, and such legal counsel or financial advisor are also bound by confidentiality duties similar to the duties in this section. Disclosure of any confidential information by the staff members or agency hired by any Party shall be deemed disclosure of such confidential information by such Party, which Party shall be held liable for breach of this Agreement. This Section shall survive the termination of this Agreement for any reason.

 

9.                  Further Warranties

 

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

 

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10.           Miscellaneous

 

10.1                        Amendment, change and supplement

 

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

 

10.2                        Entire agreement

 

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

 

10.3                        Headings

 

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

 

10.4                        Language

 

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

 

10.5                        Severability

 

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

 

10.6                        Successors/Transferees

 

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

 

Notwithstanding another other provisions under this Agreement to the contrary, Shareholders and Party D shall not transfer their rights and obligations hereunder to any other third parties unless Party C has given prior written consent.

 

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Shareholders and Party D hereby agree that Party C has the right to transfer its rights and obligation hereunder to any third party at Party C’s sole discretion. Party C will notify other Parties hereto of such transfer and the transfer is not subject to any consents from other Parties.

 

10.7                        Survival

 

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

 

10.7.2             The provisions of Sections 5, 7, 8 and this Section 10.7 shall survive the termination of this Agreement.

 

10.8                        Waivers

 

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

 

[The Remainder of this page is intentionally left blank]

 

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IN WITNESS WHEREOF, the Parties have executed, or caused their respective duly authorized representatives to execute, this Exclusive Option Agreement as of the date first above written.

 

	
Party A:
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
Party B:
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    

 

 

IN WITNESS WHEREOF, the Parties have executed, or caused their respective duly authorized representatives to execute, this Exclusive Option Agreement as of the date first above written.

 

 

	
Party C:
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
By:
    	
 
    	
 
    
	
Name:
    	
 
    	
 
    
	
Title:
    	
Legal Representative
    	
 
    

 

	
Party D:
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
By:
    	
 
    	
 
    
	
Name:
    	
 
    	
 
    
	
Title:
    	
Legal Representative
    	
 
    

 

 

Schedule A

 

The following schedule sets forth other major similar agreements the registrant entered into with each of its consolidated affiliated entities and its shareholders. Other than the information set forth below, there is no material difference between such other agreements and this exhibit.

 

	
Consolidated   Affiliated Entities
    	
 
    	
Executing Parties
    	
 
    	
Execution Date
    
	
Guangzhou Vipshop E-Commerce Co., Ltd.
    	
 
    	
Party A: Eric Ya Shen
   Party B: Arthur Xiaobo Hong
   Party C: Vipshop (China) Co., Ltd.
   Party D: Guangzhou Vipshop E-Commerce Co., Ltd.
    	
 
    	
July 13,   2017
    
	
Guangzhou Vipshop Information Technology Co., Ltd.
    	
 
    	
Party A: Eric Ya Shen
   Party B: Arthur Xiaobo Hong
   Party C: Vipshop (China) Co., Ltd.
   Party D: Guangzhou Vipshop Information Technology Co., Ltd.
    	
 
    	
December 23,   2015
    
	
Pin Jun Tong Enterprise Management & Consulting   Co., Ltd.
    	
 
    	
Party A: Eric Ya Shen
   Party B: Arthur Xiaobo Hong
   Party C: Vipshop (China) Co., Ltd.
   Party D: Pin Jun Tong Enterprise Management & Consulting   Co., Ltd.
    	
 
    	
December 15,   2017
    
	
Shanghai Pinjian E-Commerce Co., Ltd. (currently known as   Tianjin Pinjian E-Commerce Co., Ltd.)
    	
 
    	
Party A: Eric Ya Shen
   Party B: Zhihui Yu
   Party C: Lefeng (Shanghai) Information Technology Co., Ltd.
   Party D: Shanghai Pinjian E-Commerce Co., Ltd. (currently known as   Tianjin Pinjian E-Commerce Co., Ltd.)
    	
 
    	
June 24,   2014

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