Document:

EX-4.23

 Exhibit 4.23 

This is an English Translation 

April 22, 2014 

Exclusive Call Option Agreement 

By and Among 
 Lin
Zhimin 
 Ji Wei 

and 
 The9 Computer
Technology Consulting (Shanghai) Co., Ltd. 
 Regarding 

Shanghai The9 Information Technology Co., Ltd. 

 Exclusive Call Option Agreement 

This Exclusive Call Option Agreement (hereinafter this “Agreement”) is entered into in Shanghai, the People’s Republic of China
(hereinafter “PRC”) as of April 22, 2014 by and among the following Parties: 
  

	(1)	Lin Zhimin, a PRC citizen with his identity card number:                      and his domicile address at Room
503, No. 140, Gongnong No. 3 Village, Yangpu District, Shanghai 

  

	(2)	Ji Wei, a PRC citizen with his identity card number:                      and his domicile address at Back
Building, 2F, No. 12, Lane 424, Huimin Road, Yangpu District, Shanghai 

 (Lin Zhimin and Ji Wei are hereinafter referred to individually
or collectively as the “Existing Shareholder(s)”) 
  

	(3)	The9 Computer Technology Consulting (Shanghai) Co., Ltd., a limited liability company established and validly existing under the PRC Laws with its registered address at Room 103, Building 3, No. 690 Bibo Road,
Zhangjiang Hi-Tech Park, Shanghai (hereinafter “The9 Computer”); 

 (In this Agreement, all parties mentioned above are
referred to individually as a “Party” and collectively as the “Parties”) 
 WHEREAS: 

 

	(1)	The Existing Shareholders are the shareholders of Shanghai The9 Information Technology Co., Ltd., a limited liability company established and validly existing under the PRC Laws, hereinafter the
“Company”) whose name appear on the register of members of the Company, legally holding all equity interests of the Company, and the capital contribution and equity ratio of the Existing Shareholders in the registered capital of the
Company as of the date of this Agreement are set out in Appendix I hereto. 

  

	(2)	The Existing Shareholders intend to transfer to The9 Computer and/or any other entity or individual designated by it, and The9 Computer intends to accept the transfer of, all of their respective equity interests in the
Company, subject to the PRC Laws. 

  

	(3)	In order to realize the equity transfer described above, the Existing Shareholders agree to grant to The9 Computer an exclusive and irrevocable equity transfer option, respectively. Pursuant to the equity transfer
option, the Existing Shareholders shall, at the request of The9 Computer and to the extent permitted by the PRC Laws, transfer the Option Equity (as defined below) to The9 Computer and/or any other entity or individual designated by it in accordance
with the provisions of this Agreement. 

 Therefore, the Parties have reached the following agreement upon mutual consultations: 

Article 1 — Definition 
  

	1.1	Except as otherwise construed in the context, the following terms in this Agreement shall be interpreted to have the following meanings: 

“PRC Laws” shall mean the laws, administrative regulations, administrative rules, local regulations, judicial interpretations and other
binding regulatory documents of the People’s Republic of China (for the purpose of this Agreement, excluding Hong Kong Special Administrative Region, Macao Special Administrative Region and Taiwan) then in effect. 

  
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 “Transfer Option” shall mean the option to request for the purchase of equity interests in the
Company as granted by the Existing Shareholders to The9 Computer pursuant to the terms and conditions of this Agreement. 
 “Option Equity”
shall mean, in respect of each of the Existing Shareholders, all the equity interests held by him in the Company Registered Capital (as defined below); and in respect of all the Existing Shareholders, the equity interests accounting for 100% of the
Company Registered Capital. 
 “Company Registered Capital” shall mean the registered capital of the Company on the date of this Agreement,
i.e., RMB23,000,000, and shall include any expanded registered capital as a result of any capital increase within the term of this Agreement. 

“Transferred Equity” shall mean the equity interests of the Company which The9 Computer has the right to require any of the Existing
Shareholders to transfer to it or its designated entity or individual in accordance with Article 3.2 hereof when The9 Computer exercises its Transfer Option, the quantity of which may be all or part of the Option Equity and the specific amount
of which shall be determined by The9 Computer in its sole discretion in accordance with the PRC Laws then in effect and based on its own commercial consideration. 

“Exercise of Option” shall mean any exercise by The9 Computer of its Transfer Option. 

“Transfer Price” shall mean all the considerations which The9 Computer or its designated entity or individual is required to pay to the
Existing Shareholders in order to obtain the Transferred Equity upon each Exercise of Option. 
 “Business Permits” shall mean any
approvals, permits, filings and registrations etc. which the Company is required to have for legally and validly operating all of its businesses, including but not limited to the Business License of the Corporate Legal Person, the Tax Registration
Certificate, the Permit for Operations of Value-added Telecommunication Businesses with respect to the business operation of internet information services, the Network Cultural Business Permit for operating internet cultural products containing
online games, the approval document number required to obtain from internet publication institutions for operating online games, the filings required to be made with the producers of electronic publications for producing electronic publications, and
such other relevant licenses and permits as required by the PRC Laws then in effect. 

  
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 “Company Assets” shall mean all the tangible and intangible assets which the Company owns or has
the right to dispose of during the term of this Agreement, including but not limited to any immoveable and moveable assets, and such intellectual property rights as trademarks, copyrights, patents, proprietary know-how, domain name, software use
right, and any investment interest. 
 “Material Asset” shall mean any asset which has a book value of RMB100,000 or more or has a material
impact on the businesses operation of any Party. 
 “Material Agreement” shall mean any agreement to which the Company is a party and which
has a material impact on the business or assets of the Company, including but not limited to the important agreements regarding the profit distribution of online games, its technical services, information release/business of the Company. 

“Exercise Notice” shall have the meaning ascribed to it in Article 3.5 of this Agreement. 

“Confidential Information” shall have the meaning ascribed to it in Article 6.1 of this Agreement. 

“Defaulting Party” shall have the meaning ascribed to it in Article 9.1 of this Agreement. 

“Default” shall have the meaning ascribed to it in Article 9.1 of this Agreement. 

“Party’s Rights” shall have the meaning ascribed to it in Article 10.5 of this Agreement. 

 

	1.2	Any reference to the PRC Laws herein shall be deemed (1) to include the references to the amendments, changes, supplements and reenactments of such law, irrespective of whether they take effect before or after the
formation of this Agreement; and (2) to include the references to other decisions, notices and regulations enacted in accordance therewith or effective as a result thereof. 

 

	1.3	Except as otherwise stated in the context herein, all references to an article, clause, item or paragraph shall refer to the relevant part of this Agreement. 

Article 2 Grant of Transfer Option 
  

	2.1	The Existing Shareholders hereby severally and jointly agree to grant to The9 Computer an irrevocable, unconditional and exclusive Transfer Option. Pursuant to the Transfer Option, The9 Computer shall have the right to,
to the extent permitted by the PRC Laws, require the Existing Shareholders to transfer the Option Equity to The9 Computer or its designated entity or individual according to the terms and conditions of this Agreement. The9 Computer also agrees to
accept such Transfer Option. 

  
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 Article 3 Method for Exercise of Option 

 

	3.1	Subject to the terms and conditions of this Agreement, The9 Computer shall have the absolute sole discretion to determine the specific time, method and times of its Exercise of Option to the extent permitted by the PRC
Laws. 

  

	3.2	If The9 Computer and/or any other entity or individual designated by it is/are permitted by the PRC Laws then in effect to hold all the equity interests of the Company, The9 Computer shall have the right to elect to
exercise all of its Transfer Option on a one-off basis, and The9 Computer and/or any other entity or individual designated by it shall accept the one-off transfer of all the Option Equity from the Existing Shareholders; if The9 Computer and/or any
other entity or individual designated by it is/are permitted by the PRC Laws then in effect to hold only part of the equity interests of the Company, The9 Computer shall have the right to determine the amount of the Transferred Equity within the
extent of not exceeding the upper limit of shareholding ratio as specified by the PRC Laws then in force (hereinafter the “Shareholding Limit”), and shall also have the right to designate at its own will the amount of the
Transferred Equity that the Existing Shareholders shall transfer to The9 Computer and/or any entity or individual designated by it in such Exercise of Option. In the latter case, The9 Computer shall have the right to exercise its Transfer Option at
multiple times in line with the gradual release of the PRC Laws on the permitted Shareholding Limit, with a view to ultimately acquiring all the Option Equity. 

  

	3.3	At each Exercise of Option by The9 Computer, each of the Existing Shareholders shall transfer the Transferred Equity to The9 Computer and/or any other entity or individual designated by it in the amount requested by
The9 Computer. The9 Computer and any other entity or individual designated by it shall pay the Transfer Price in respect of the Transferred Equity accepted in each Exercise of Option to the Existing Shareholders transferring such Transferred Equity.

  

	3.4	Subject to the terms and conditions of this Agreement and without violating the PRC Laws then in effect, The9 Computer may accept the transfer of the Transferred Equity by itself or designate any third party to accept
the transfer of all or part of the Transferred Equity in each Exercise of Option. 

  

	3.5	Having decided each Exercise of Option, The9 Computer shall issue to the Existing Shareholders a notice for exercising the Transfer Option (hereinafter the “Exercise Notice”, the form of which is set
out in Appendix II hereto). The Existing Shareholders shall, upon receipt of the Exercise Notice, forthwith transfer the Transferred Equity to The9 Computer and/or any other entity or individual designated by it in such method as described in
Article 3.3 hereof. 

  

	3.6	Each of the Existing Shareholders hereby jointly and severally undertake and guarantee that once The9 Computer issues the Exercise Notice: 

 

	 	(1)	he shall immediately convene a shareholders’ meeting, pass shareholders’ resolution and take all other necessary actions to approve the transfer by any Existing Shareholder of all the Transfer Option at the
Transfer Price to The9 Computer and/or any other entity or individual designated by it, and give up any pre-emptive right owned by him (if any); 

  

	 	(2)	he shall immediately enter into an equity transfer agreement with The9 Computer and/or any other entity or individual designated by it for the transfer of all the Transferred Equity at the Transfer Price to The9
Computer and/or any other entity or individual designated by it; 

  

	 	(3)	he shall provide The9 Computer with necessary support (including providing and executing all relevant legal documents, performing all government approval and registration procedures and assuming all relevant
obligations) as per its request and in accordance with the requirements of the laws and regulations, so that The9 Computer and/or any other entity or individual designated by it can acquire all the Transferred Equity, free from and clear of any
legal defect and any encumbrance, third party right or any other restriction on equity interests. 

  
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	3.7	In respect of the Transfer Option, at each Exercise of Option by The9 Computer, all the Transfer Price that shall be paid by The9 Computer or its designated entity or individual to each of the Existing Shareholders
shall be the book value of the Company Registered Capital that is corresponding to the Transferred Equity. If, however, the lowest price permitted by the PRC Laws then in force is higher than the book value of the Company Registered Capital, the
Transfer Price shall be the lowest price permitted by the PRC Laws. 

 Article 4 Representations and Warranties

  

	4.1	Each of the Existing Shareholders hereby jointly and severally represents and warrants as follows: 

  

	 	4.1.1	He is a PRC citizen with full capacity, has full and independent legal status and legal capacity to execute, deliver and perform this Agreement, and may act independently as a party to lawsuit. 

 

	 	4.1.2	He has full power to execute, deliver and perform this Agreement and all the other documents to be signed by him in relation to the transaction referred to herein, and he has the full power to complete the transaction
referred to herein. 

  

	 	4.1.3	This Agreement shall be executed and delivered by him legally and properly. This Agreement constitutes the legal and binding obligations on him and is enforceable against him in accordance with its terms and conditions.

  

	 	4.1.4	He is the legal owner of the Option Equity whose name appears on the register of members of the Company as of the effective date of this Agreement, and except the pledge right created by the Equity Pledge Agreement
dated April 22, 2014 between The9 Computer and the Existing Shareholders, the delegated power created by the Shareholders’ Voting Proxy Agreement dated April 22, 2014 among the Company, The9 Computer and the Existing Shareholders, and
the rights created by this Agreement, there is no lien, pledge, claim and other encumbrances and third party rights on the Option Equity. In accordance with this Agreement, The9 Computer and/or any other entity or individual designated by it may,
upon the Exercise of Option, obtain a good title to the Transferred Equity, free from and clear of any lien, pledge, claim and other encumbrances or third party rights. 

 

	 	4.1.5	The execution, delivery and performance by the Existing Shareholders of this Agreement and the consummation by the Existing Shareholders of the transactions contemplated hereby do not violate any provisions of the PRC
Laws, and any of its agreements, contracts and other arrangements with any third party by which he is bound. 

  

	4.2	The9 Computer hereby represents and warrants as follows: 

  

	 	4.2.1	The9 Computer is a wholly foreign-owned company with limited liability duly incorporated and legally existing under the PRC Laws and possesses an independent legal person qualification. The9 Computer has full and
independent legal status and legal capacity to execute, deliver and perform this Agreement and may act independently as a party to lawsuit. 

  

	 	4.2.2	The9 Computer has the full corporate power and authority to execute, deliver and perform this Agreement and all the other documents to be signed by it in relation to the transaction referred to herein, and it has the
full power and authority to complete the transaction referred to herein. 

  
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 Article 5 Undertakings by Existing Shareholders 

Each of the Existing Shareholders hereby severally and jointly undertakes as follows: 

 

	5.1	He shall take all necessary measures during the term of this Agreement to ensure that the Company is able to obtain all the Business Permits timely and all the Business Permits remain to be valid at any time.

  

	5.2	Without the prior written consent by The9 Computer during the term of this Agreement, 

  

	 	5.2.1	none of the Existing Shareholders shall transfer or otherwise dispose of any Option Equity or create any encumbrance or other third party rights on any Option Equity; 

 

	 	5.2.2	he shall not increase or decrease the Company Registered Capital, or cause/approve the Company to be divided or merged with any other entity; 

 

	 	5.2.3	he shall not dispose of or cause the management of the Company to dispose of any Material Asset (other than in the ordinary course of business), or create any encumbrance or other third party rights on any Material
Asset; 

  

	 	5.2.4	he shall not terminate or cause the management of the Company to terminate any Material Agreements entered into by the Company, or enter into any other agreements in conflict with the existing Material Agreements;

  

	 	5.2.5	he shall not appoint or replace any executive directors or members of the board (if any) or supervisors of the Company or any other management personnel of the Company who shall be appointed or dismissed by the Existing
Shareholders; 

  

	 	5.2.6	he shall not procure the Company to declare the distribution of or in practice release any distributable profit, bonus, share profit or dividend; 

 

	 	5.2.7	he shall ensure that the Company validly exists and is not terminated, liquidated or dissolved; 

  

	 	5.2.8	he shall not amend the articles of association of the Company; 

  

	 	5.2.9	he shall ensure that the Company shall not lend or borrow any money, or provide guarantee or engage in security activities in any other forms, or bear any substantial obligations other than in the ordinary course of
business; 

  

	 	5.2.10	he shall not in any way make or authorize others (including but not limited to the Company’s directors nominated by him) to make any resolution, instruction, consent or order to procure the Company to carry out any
transaction that would or might substantially affect any asset, right, obligation or business of the Company (including its branches, subsidiaries or affiliates) (hereinafter “Prohibited Transaction”), nor sign any agreement,
contract, memorandum or transaction document of any other form in respect of the Prohibited Transaction (hereinafter “Prohibited Document”), nor shall he allow any Prohibited Transaction to be carried out nor any Prohibited
Documents to be signed through omission to act; and 

  

	 	5.2.11	he shall not cause the Company or the management of Company to approve any of the following acts of the Company’s subsidiaries or affiliates (collectively referred to the “Subsidiaries”):

  

	 	(a)	to increase or decrease any Subsidiary’s registered capital, or cause/approve any Subsidiary to be divided or merged with any other entity; 

  
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	 	(b)	to dispose of or cause the management of the Subsidiaries to dispose of any Material Assets of any Subsidiary (other than in the ordinary course of business), or create any encumbrance or other third party rights on the
Material Asset; 

  

	 	(c)	to terminate or cause the management of the Subsidiaries to terminate any Material Agreements entered into by any Subsidiary, or enter into any other agreements in conflict with the existing Material Agreements;

  

	 	(d)	to appoint or replace any directors or supervisors of any Subsidiary or any other management personnel of such Subsidiary who shall be appointed or dismissed by the Company; 

 

	 	(e)	to terminate, liquidate or dissolve any Subsidiary or act in any way that damages or is likely to damage the valid existence of any Subsidiary; 

 

	 	(f)	to amend the articles of association of any Subsidiary; and 

  

	 	(g)	to lend or borrow any money, or provide guarantee or engage in security activities in any other forms, or bear any substantial obligations other than in the ordinary course of business. 

 

	5.3	Within the term of this Agreement, he shall make his best effort to develop the business of the Company and ensure that the operation of the Company is legal and in compliance with the regulations, and he will not
engage in any act or omission to act which may damage the Company’s (including the Subsidiaries’) assets, goodwill or affect the validity of the Business Permits of the Company. 

 

	5.4	Within the term of this Agreement, he shall timely notify The9 Computer of any situation that may have a material adverse effect on the existence, business operation, financial condition, assets or goodwill of the
Company (including the Subsidiaries), and shall timely take all the measures approved by The9 Computer to remove such adverse situation or take effective remedial measures with respect thereto. 

 

	5.5	He will procure any director of the Company nominated by him or any management personnel of the Company recommended by him (if any) to strictly observe the above undertakings when performing their duties as director or
management personnel of the Company, and shall not in any way engage in any act or omission to act that is in conflict with any such undertaking. 

  

	5.6	If the total amount of the Transfer Price obtained by any Existing Shareholder with respect to the Transferred Equity held by him is higher than his capital contribution to the Company, or he receives any form of profit
distribution, share profit, dividend or bonus from the Company, then the Existing Shareholder agrees that he will, subject to the provisions of the PRC Laws, give up the premium earnings and any profit distribution, share profit, dividend or bonus
(after the deduction of relevant taxes), and The9 Computer shall be entitled thereto. Otherwise, such Existing Shareholder shall compensate The9 Computer and/or any other entity or individual designated by it for any loss incurred as a result
thereof. 

 Article 6 Confidentiality 
  

	6.1	Regardless of whether this Agreement has terminated or not, the Parties shall keep in strict confidence all the trade secrets, proprietary information and customer information and all other information of a confidential
nature about the other Parties known by them during the execution and performance of this Agreement (hereinafter collectively the “Confidential Information”). Unless a prior written consent is obtained from the Party disclosing the
Confidential Information or unless it is required to be disclosed to third parties according to the relevant laws and regulations or the requirement of the country on which any affiliate of a Party is listed, the Party receiving the Confidential
Information shall not disclose to any third party any Confidential Information. The receiving Party shall not use or indirectly use any Confidential Information other than for the purpose of performing this Agreement. 

  
 8 

	6.2	The following information shall not deemed as the Confidential Information: 

  

	 	(a)	any information that has been legally known by receiving Party before as evidenced by written documents; 

  

	 	(b)	any information entering into the public domain not attributable to the fault of the receiving Party; or 

  

	 	(c)	any information lawfully acquired by the receiving Party through other sources after his/its receipt of such information. 

  

	6.3	The receiving Party may disclose the Confidential information to his/its relevant employees, agents or professionals retained by him/it. However, the receiving Party shall ensure that the aforesaid personnel shall
comply with the relevant terms and conditions of this Agreement and be responsible for any liability incurred in connection with any breach by such personnel of the relevant terms and conditions hereof. 

 

	6.4	Notwithstanding any other provisions herein, the effect of this Article shall not be affected by the suspension or termination of this Agreement. 

Article 7 Term of Agreement 
  

	7.1	This Agreement shall become effective once it is duly signed by the Parties, and shall terminate after all the Option Equity is legally transferred to The9 Computer and/or any other entity or individual designated by it
in accordance with the provisions of this Agreement. 

 Article 8 Notice 

 

	8.1	Any notice, request, demand and other correspondences required by this Agreement or made in accordance with this Agreement shall be delivered in writing to the relevant Party. 

 

	8.2	Any such notice or other correspondences shall be deemed to have been delivered when it is sent if delivery by facsimile or telex, when it is delivered if delivery in person, and five (5) days after it was posted
if delivery by post. 

  

	8.3	Any notice, request, demand and other correspondences made to The9 Computer shall be delivered to the address of the Company as first above written. 

Article 9 Liabilities for Breach of Contract 
  

	9.1	The Parties agree and confirm that, if any Party (hereinafter the “Defaulting Party”) substantially violates any of the provisions herein or substantially fails to perform any of the obligations
hereunder, such violation or failure shall constitute a default under this Agreement (hereinafter a “Default”), and the non-defaulting Party shall have the right to require the Defaulting Party to rectify such Default or take
remedial measures within a reasonable period. If the Defaulting Party fails to rectify such Default or take remedial measures within such a reasonable period or within ten (10) days after the non-defaulting Party notifies the Defaulting Party
in writing and require it to rectify the Default, then the non-defaulting Party shall have the right at its own discretion to decide the following: 

  

	 	9.1.1	if any Existing Shareholder or the Company is the Defaulting Party, The9 Computer shall be entitled to terminate this Agreement and require the Defaulting Party to make compensation for damages; 

  
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	 	9.1.2	if The9 Computer is the Defaulting Party, the non-defaulting Party shall be entitled to require the Defaulting Party to make compensation for damages, but unless otherwise provided by law, the non-defaulting Party shall
have no right to terminate or discharge this Agreement in any circumstances. 

  

	9.2	The rights and remedies set out herein shall be cumulative, and shall not preclude any other rights or remedies provided by law. 

  

	9.3	Notwithstanding any other provisions herein, the effect of this Article shall not be affected by the suspension or termination of this Agreement. 

Article 10 Miscellaneous 
  

	10.1	This Agreement is executed in Chinese in three (3) originals, with one (1) original to be retained by each Party hereto. 

  

	10.2	The formation, effectiveness, performance, amendment, interpretation and termination of this Agreement shall be governed by the PRC Laws. 

 

	10.3	Any disputes arising out of and in connection with this Agreement shall be resolved through consultations among the Parties. If the Parties cannot reach an agreement regarding such disputes within thirty (30) days
of their occurrence, such disputes shall be submitted to China International Economic and Trade Arbitration Commission, Shanghai Branch, for arbitration in Shanghai in accordance with the arbitration rules of such Commission, and the arbitral award
shall be final and binding on the Parties. 

  

	10.4	None of the rights, powers and remedies granted to any Party by any provisions herein shall preclude any other rights, powers and remedies available to such Party at law and under the other provisions of this Agreement,
nor shall the exercise by a Party of its rights, powers and remedies preclude any exercise by such Party of its other rights, powers and remedies. 

  

	10.5	Any failure or delay by a Party in exercising any of its rights, powers and remedies hereunder or in accordance with laws (hereinafter the “Party’s Rights”) shall not result in a waiver thereof,
nor shall the waiver of any single or partial exercise of the Party’s Rights preclude such Party from exercising such rights in any other way and exercising the other Party’s Rights. 

 

	10.6	The headings of the provisions herein are for reference only, and in no circumstances shall such headings be used for or affect the interpretation of the provisions hereof. 

 

	10.7	Each provision contained herein shall be severable and independent from each of other provisions, and if at any time any one or more provisions herein become(s) invalid, illegal or unenforceable, the validity, legality
and enforceability of the remaining provisions herein shall not be affected as a result thereof. 

  

	10.8	This Agreement, once executed, shall supersede any other previous legal documents executed by the Parties with respect to the subject matter hereof. Any amendments or supplements to this Agreement shall be made in
writing and shall become effective only when duly signed by the Parties to this Agreement. 

  

	10.9	Without the prior written consent of The9 Computer, neither the Existing Shareholders nor the Company shall transfer any of their/its rights and/or obligations hereunder to any third parties. The Existing Shareholders
and the Company hereby agree that The9 Computer shall be entitled to transfer any of its rights and/or obligations hereunder to any third party after serving written notice to the Existing Shareholders and the Company. 

  
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	10.10	This Agreement shall be binding on the legal successors of the Parties. 

 [The remainder of this
page intentionally left blank] 

  
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 IN WITNESS HEREOF, the Parties have caused this Exclusive Call Option Agreement to be executed as of the
date and in the place first above written. 
 Lin Zhimin  

Signature: /s/ Lin Zhimin 
 Ji Wei  

Signature: /s/ Ji Wei 
 The9 Computer Technology Consulting
(Shanghai) Co., Ltd.  
 (Company chop) 
 Company chop
is affixed 

  
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 Appendix I: 

Basic Information of Company 
  

			
	Company Name:	  	Shanghai The9 Information Technology Co., Ltd.
		
	Registered Address:	  	Shanghai, PRC
		
	Registered Capital:	  	RMB23 million
		
	Legal Representative:	  	Wang Yong
		
	Shareholding Structure:	  	

  

									
	 Shareholder’s Name
	 	Contributed Capital (in RMB)	 	 	Proportion of Equity Interests	 
	 Lin Zhimin
	 	 	8,280,000	  	 	 	36	% 
	 Ji Wei
	 	 	14,720,000	  	 	 	64	% 
	 Total
	 	 	23,000,000	  	 	 	100	% 

  

			
		
	Financial Year:	  	January 1 to December 31

  
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 Appendix II 

Form of the Option Exercise Notice 
  

			
	To:		:

 WHEREAS this Company and you signed an Exclusive Call Option Agreement as of April 22, 2014 (“Option
Agreement”), and agreed that you shall transfer the equity you hold in Shanghai The9 Information Technology Co., Ltd. (hereinafter “Company”) to this Company or any third parties designated by this Company on demand of this Company to
the extent as permitted by the PRC Laws and regulations. 
 This Company hereby gives this Notice to you as follows: 

This Company hereby requires to exercise the Transfer Option under the Option Agreement and [this Company]/[name of company/individual] designated by this
Company shall accept the equity you hold accounting for                     % of the Company’s Registered Capital (hereinafter the
“Proposed Equity to be Transferred”). You are required to forthwith transfer all the Proposed Equity to be Transferred to [this Company]/[name of designated company/individual] upon receipt of this Notice in accordance with the agreed
terms in the Option Agreement. 
  

	
	The9 Computer Technology Consulting (Shanghai) Co., Ltd.
	(Company Chop)
	
	Authorized Representative:                     
	Date:                     

  
 14EX-4.24

 Exhibit 4.24 

This is an English Translation 

April 22, 2014 

Loan Agreement 
 by and
among 
 Lin Zhimin 

Ji Wei 
 and 

The9 Computer Technology Consulting (Shanghai) Co., Ltd. 

 Loan Agreement  

This Loan Agreement (hereinafter this “Agreement”) is entered into in Shanghai, the People’s Republic of China (hereinafter
“PRC”) as of April 22, 2014 by and among the following Parties: 
  

	1.	The9 Computer Technology Consulting (Shanghai) Co., Ltd. (hereinafter “The9 Computer”) 

Registered address: Room 103, Building 3, No. 690 Bibo Road, Zhangjiang Hi-Tech Park, Shanghai 

 

	2.	Lin Zhimin, identity card number:                          

Domicile address: Room 503, No. 140, Gongnong No. 3 Village, Yangpu District, Shanghai 

 

	3.	Ji Wei, identity card number:
                                 

Domicile address: Back Building, 2F, No. 12, Lane 424, Huimin Road, Yangpu District, Shanghai 

(Lin Zhimin and Ji Wei are hereinafter referred to collectively as the “Borrowers” and individually as the “Borrower”). 

The Borrowers intend to borrow from The9 Computer for investing in Shanghai The9 Information Technology Co., Ltd. (the “Company”) and The9
Computer agrees to provide the loans in a total amount of RMB23,000,000 to the Borrowers pursuant to the terms and conditions hereof. Therefore, the parties have reached the following agreement to confirm the matters in relation to the loan upon
friendly consultations: 
 Article 1 Amount and Interest Rate of Loan 

 

	1.1	The sum of the loans under this Agreement shall amount to Twenty Three Million Renminbi (RMB23,000,000) (“Loan”), that is, The9 Computer shall provide the loans to the Borrowers in Twenty Three Million
Renminbi Renminbi (RMB23,000,000), of which: 

 The9 Computer shall provide a loan to Lin Zhimin in Eight Million and Two
Hundred and Eighty Thousand Renminbi (RMB8,280,000) 
 The9 Computer shall provide a loan to Ji Wei in Fourteen Million and Seven Hundred and
Twenty Thousand Renminbi (RMB14,720,000) 
  

	1.2	The interest rate of the Loan under this Agreement shall be zero, which means that no interest will be charged. 

  

	1.3	Each of the Borrowers shall sign an equity pledge agreement with The9 Computer at the request of The9 Computer to pledge all of his equity interests in the Company to The9 Computer as a security for the Loan.

  
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 Article 2 Use and Withdrawal of Loan 

 

	2.1	The Borrowers shall only use the Loan hereunder for the investment in or the operation of the Company. The Borrowers shall not use any part of the Loan for any other purpose without the prior written consent of The9
Computer. 

  

	2.2	Each Borrower shall make a request with The9 Computer within five business days from the date this agreement is executed to draw down the Loan hereunder in full in one-off. Subject to the agreement hereunder, the Loan
will be deposited to the Borrowers’ designated account(s) according to the Borrowers’ request. 

 Article 3
Term of Loan 
  

	3.1	The term of the Loan under this Agreement shall expire on the date when The9 Computer requests the Borrowers to repay the Loan in accordance with Article 3.2 of this Agreement. However, the maximum term shall not
exceed the business term of The9 Computer (including the business term as extended from time to time) or the business term of the Company (including the business term as extended from time to time), whichever is earlier (hereinafter “Loan
Term”). Upon expiry of the Loan Term, the Borrowers shall repay all outstanding amounts under the Loan (hereinafter “Amounts”) in a lump sum on the expiry date of the Term. 

Upon execution hereof, The9 Computer shall, at any time within the Term and in its absolute discretion, be entitled to deliver to the Borrowers
or any of the Borrowers a repayment notice as set forth in Article 4.1 of this Agreement, requesting the Borrowers to repay all or part of their respective Amounts under this Agreement. 

 

	3.2	Any Borrower required to make repayment shall repay the relevant Amounts in cash, or in any other forms as decided by the board of directors of The9 Computer by way of resolution duly passed by it. If the repayment is
made in cash, the Borrowers shall credit the entire Amounts required by The9 Computer for repayment to the bank account designated by The9 Computer within five (5) business days upon the receipt of a repayment notice as set forth in
Article 4.1 of this Agreement. 

  

	3.3	If The9 Computer serves the repayment notice as set forth in Article 4.1 of this Agreement to the Borrowers, it shall, without violating any applicable laws and regulations, have the right to acquire on its own or
designate any third party to acquire all of the equity interests owned by the Borrowers in the Company at the transfer price that is equivalent to the Amounts at the time when such notice is given. 

 

	3.4	The9 Computer shall, in its absolute discretion, also have the right to demand to offset its creditor’s right to the Borrowers under this Agreement against all or part of the transfer price required to be paid by
it to the Borrowers in connection with its exercise of the relevant call option (hereinafter “Call Option”) when it exercises the Call Option in accordance with the provisions of the Exclusive Call Option Agreement entered into
between The9 Computer and the Borrowers on April 22, 2014 (hereinafter “Option Agreement”). 

  

	3.5	The Borrower shall not be jointly liable for the repayment by the other Borrower of his Loan under this Agreement. 

Article 4 Repayment Notice 
  

	4.1	The repayment notice given by The9 Computer to the Borrower or any or several of the Borrowers shall at least contain the following items: name of Borrower, amount of Loan, amount of repayment, time of repayment and
bank account for repayment. 

  
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 Article 5 Representations and Warranties 

 

	5.1	Each Borrower hereby represents and warrants as follows: 

  

	 	5.1.1	he is a PRC citizen with full capacity, has full and independent legal status and legal capacity to execute, deliver and perform this Agreement, and may act independently as a party to lawsuit. 

 

	 	5.1.2	he has full power to execute and deliver this Agreement and all the other documents to be signed by him in relation to the transaction referred to herein, and he has full power to complete the transaction referred to
herein. This Agreement shall be executed and delivered by him legally and properly. This Agreement constitutes the legal and binding obligations on him and is enforceable against him in accordance with its terms and conditions. 

 

	 	5.1.3	he has fully disclosed his financial conditions to The9 Computer before the execution of this Agreement. As of the execution of this Agreement, there exist no circumstances that may render him in insolvency, nor are
there any material liabilities that affect his ability to repay debts. The9 Computer may demand him to perform his obligations hereunder in accordance with this Agreement. 

 

	5.2	The9 Computer hereby represents and warrants as follows: 

  

	 	5.2.1	it is a limited liability company duly incorporated and legally existing under the PRC laws and possesses an independent legal person qualification. It has full and independent legal status and legal capacity to
execute, deliver and perform this Agreement and may act independently as a party to lawsuit. 

  

	 	5.2.2	it has the full corporate power and authority to execute and deliver this Agreement and all the other documents to be signed by it in relation to the transaction referred to herein, and it has the full power and
authority to complete the transaction referred to herein. 

 Article 6 Term of Agreement 

 

	6.1	This Agreement shall become effective once it is duly signed by the parties. This Agreement confirms all matters with regard to the Loan between the parties and shall terminate when the Borrowers repay in full the Loan
under this Agreement. 

  

	6.2	If any of the Borrowers transfers his liabilities under this Agreement with the prior consent of The9 Computer, then the successor of such liabilities shall continue to perform such Borrower’s obligations under
this Agreement, and the obligations and undertakings of the other Borrower under this Agreement shall not be adversely affected as a result thereof. 

Article 7 Taxes 
  

	7.1	All taxes in connection with the Loan shall be borne by The9 Computer. 

 Article 8
Confidentiality 
  

	8.1	Regardless of whether this Agreement has terminated or not, the Borrowers shall be under an obligation to keep in confidence any trade secret, proprietary information and customer information (hereinafter
“Confidential Information”) in connection with The9 Computer that are known to or received by them due to the execution and performance of this Agreement. The Borrowers shall use the Confidential Information only for the purpose of
performing their obligations under this Agreement. Without the written permission of The9 Computer, the Borrowers shall not disclose the above Confidential Information to any third party. Otherwise, they shall be liable for the breach of this
Agreement and make compensation for all losses arising therefrom. 

  
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	8.2	The following information shall not be deemed as the Confidential Information: 

  

	 	(a)	any information that has been legally known by the receiving party before as evidenced by written documents; 

  

	 	(b)	any information entering into the public domain not attributable to the fault of the receiving party; or 

  

	 	(c)	any information lawfully acquired by the receiving party through other sources after his/its receipt of such information. 

  

	8.3	Following the termination of this Agreement, the Borrowers shall, upon request by The9 Computer, return, destroy or otherwise dispose of all files, materials or software containing the Confidential Information, and
shall cease to use such Confidential Information. 

  

	8.4	Notwithstanding any other provisions herein, the effect of this Article 8 shall not be affected by the suspension or termination of this Agreement. 

Article 9 Undertakings and Warranties 
  

	9.1	The Borrowers hereby irrevocably guarantee and warrant that they will not in any way make or authorize others (including but not limited to the Company’s directors nominated by them) to make any resolution,
instruction, consent or order to procure the Company to carry out any transaction that would or might substantially affect any asset, right, obligation or business of the Company and/or its subsidiaries (hereinafter “Prohibited
Transaction”), including but not limited to: 

  

	 	(1)	borrowing money from any third party or assuming any debts (except for any single debt whose amount does not exceed One Hundred Thousand Renminbi incurred in the usual and normal business activities or any debt whose
total amount does not exceed One Hundred Thousand Renminbi in a consecutive of six months); 

  

	 	(2)	providing guarantees to any third party for its own debts, or providing any guarantee to any third party; 

  

	 	(3)	transferring any businesses, material assets, actual or potential business opportunities to any third party; 

  

	 	(4)	transferring or giving license to any third party any domain names, trademarks or other intellectual property in which the Company has legal right; 

 

	 	(5)	transferring all or part of their equity interests in the Company to any third party; 

  

	 	(6)	any other material transactions; 

 nor sign any agreement, contract, memorandum or transaction
document of any other form in respect of the Prohibited Transaction (hereinafter “Prohibited Document”), nor will they allow any Prohibited Transaction to be carried out nor any Prohibited Document to be signed through omission to
act. 
  

	9.2	The Borrowers shall procure any directors and management personnel of the Company to strictly observe the provisions of this Agreement when performing their duties as directors and management directors of the Company,
and shall not in any way engage in any act or omission to act that is in conflict with any such undertaking. 

Article 10 Notices 
  

	10.1	Any notice, request, demand and other correspondences required by this Agreement or made in accordance with this Agreement shall be delivered in writing to the relevant party. 

 

	10.2	Any such notice or other correspondences shall be deemed to have been delivered when it is sent if delivery by facsimile or telex, when it is delivered if delivery in person, and five (5) days after it was posted
if delivery by post. 

  
 5 

 Article 11 Liabilities for Breach of Contract 

 

	11.1	Each party agrees and confirms that, if any of the parties (hereinafter the “Defaulting Party”) substantially violates any of the provisions herein or substantially fails to perform any of the
obligations hereunder, such violation or failure shall constitute a default under this Agreement (hereinafter a “Default”), and any of the other non-defaulting parties (hereinafter a “Non-defaulting Party”) shall
have the right to require the Defaulting Party to rectify such Default or take remedial measures within a reasonable period. If the Defaulting Party fails to rectify such Default or take remedial measures within such a reasonable period or within
ten (10) days after the other party notifies the Defaulting Party in writing and requires it to rectify the Default, then the Non-defaulting Party shall have the right to terminate this Agreement and/or to demand the Defaulting Party to make
compensation for any loss. 

  

	11.2	The rights and remedies set out herein shall be cumulative, and shall not preclude any other rights or remedies provided by law. 

  

	11.3	Notwithstanding any other provisions herein, the effect of this Article shall not be affected by the suspension or termination of this Agreement. 

Article 12 Miscellaneous 
  

	12.1	This Agreement is executed in Chinese in three (3) originals, with one (1) original to be retained by each party hereto. 

  

	12.2	The formation, effectiveness, performance, amendment, interpretation and termination of this Agreement shall be governed by the PRC laws. 

 

	12.3	Any disputes arising out of and in connection with this Agreement shall be resolved through consultations among the parties. If the parties cannot reach an agreement regarding such disputes within thirty (30) days
upon their occurrence, such disputes shall be submitted to China International Economic and Trade Arbitration Commission, Shanghai Branch, for arbitration in Shanghai in accordance with the arbitration rules of such Commission, and the arbitral
award shall be final and binding on the parties. 

  

	12.4	None of the rights, powers and remedies granted to the parties by any provisions herein shall preclude any other rights, powers and remedies available to such parties at law and under the other provisions of this
Agreement, nor shall the exercise by a party of its rights, powers and remedies preclude any exercise by such party of its other rights, powers and remedies. 

  

	12.5	Any failure or delay by a party in exercising any of its rights, powers and remedies hereunder or in accordance with laws (hereinafter the “Party’s Rights”) shall not result in a waiver thereof,
nor shall the waiver of any single or partial exercise of the Party’s Rights preclude such party from exercising such rights in any other way and exercising the other Party’s Rights. 

 

	12.6	The headings of the provisions herein are for reference only, and in no circumstances shall such headings be used for or affect the interpretation of the provisions hereof. 

  
 6 

	12.7	Each provision contained herein shall be severable and independent from each of other provisions, and if at any time any one or more provisions herein become(s) invalid, illegal or unenforceable, the validity, legality
and enforceability of the remaining provisions herein shall not be affected as a result thereof. 

  

	12.8	Any amendments or supplements to this Agreement shall be made in writing and shall become effective only when duly signed by the parties to this Agreement. 

 

	12.9	Without the prior written consent of the lender, the Borrowers shall not transfer any of their respective rights and/or obligations hereunder to any third parties. The lender shall be entitled to transfer any of its
rights hereunder to any third party designated by it after serving notice to the other parties. 

  

	12.10	This Agreement shall be binding on the legal successors of the parties. 

  
 7 

 IN WITNESS HEREOF, the parties hereto have caused this Loan Agreement to be executed as of the date and in
the place first above written. 
 The9 Computer Technology Consulting (Shanghai) Co., Ltd. 

(Company chop) 
 Company chop is affixed 

 

			
	Lin Zhimin
		
	Signature:		/s/ Lin Zhimin
	
	Ji Wei
		
	Signature:		/s/ Ji Wei

  
 8

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