Document:

Exhibit 10.13

 

CONFIDENTIAL

 

Date: October 20, 2014

 

 

WORKING CAPITAL PROVISION AGREEMENT

 

 

Between

 

MAODONG XU

 

and

 

WOWO LIMITED

 

 

This Agreement (this “Agreement”) is signed as of this 20th day of October, 2014 by and between:

 

(1)                                 Maodong Xu;

 

(2)                                 WOWO LIMITED, a limited liability company incorporated under the laws of Cayman Islands, with its registered address at SCOTIA CENTRE, 4TH FLOOR, P.O. BOX 2804, GEORGE TOWN, GRAND CAYMAN KY1-1112, CAYMAN ISLANDS (hereinafter referred to as the “Company”);

 

Maodong Xu and WOWO LIMITED shall hereinafter be collectively referred to as the “Parties” and individually referred to as one “Party”.

 

Whereas,

 

(1)                                 Maodong Xu is the shareholder of the Company and holds the maximum equity interests of the Company;

 

(2)                                 Maodong Xu agrees to provide funds necessary for the Company’s sustainable operation;

 

(3)                                 The Company agrees to accept the funds provided by Maodong Xu for the purpose of its sustainable operation.

 

Therefore, the following terms and conditions are hereby agreed in relation to Maodong Xu’s provision of funds necessary for the Company’s sustainable operation:

 

1.                                      DEFINITION

 

1.1                               Unless otherwise interpreted herein, the following terms shall have the following meanings in this Agreement.

 

1.1.1                     This “Agreement” means this Agreement.

 

1.1.2                     “Working days” refer to those days other than the legal holidays and public holidays.

 

1.1.3                     “China” refers to the People’s Republic of China.

 

2.                                      FUNDS PROVISION

 

2.1                               If the capital of each of the Company and its subsidiaries, variable interest entities and the subsidiaries of such variable interest entities could not meet its sustainable operation, Maodong Xu willll provide the Company the funds necessary for its sustainable operation.

 

2.2                               The funds shall be provided in cash by Maodong Xu and shall constitute the equity investment to the Company.

 

1

 

2.3                               The term of Funds provision is from the date of this Agreement to December 31, 2015.

 

3.                                      GUARANTEE

 

3.1                               Maodong Xu agrees to provide the following assets to guaranty the funds provision obligation under Clause 2 hereof:

 

3.1.1                     The 18.39% equity interests in EGLS Technology (Beijing) Co., Ltd. held by Maodong Xu through Rizhao Ginkgo Tree Business Information Consulting Center (日照银杏树商务信息咨询中心);

 

Note: Dragon Pipe, an A-share listed company (code: 002619) acquired 100% equity of EGLS Technology (Beijing) Co., Ltd. at the purchase price of RMB  3,010,000,000 Yuan;

 

3.1.2                     The use right of 39,960 square meters land held by Maodong Xu in Rizhao, Shandong province through Rizhao Xinghe Investment and Development Co., Ltd. (日照星河投资开发有限公司).

 

3.2                               If Maodong Xu refuses to perform his obligation hereunder, the Company shall have the right to exercise its guarantee rights over the assets provided hereunder.

 

4.                                      CONFIDENTIALITY

 

4.1                               Any Party shall not (i) disclose to any third party the confidential information of the other Party obtained through this Agreement; (ii) make profits with the confidential information hereof.

 

4.2                               The Parties acknowledge and confirm that (i) any oral or written information exchanged by the Parties in connection with this Agreement are confidential information; (ii) due to this Agreement and the arrangement hereunder, the Parties are likely to obtain or access the confidential information of the other Party. The Parties shall keep confidential of all information, and without written consent from the other Party, any Party shall not disclose to any third party any relevant information, except for the following information: (a) the information known or to be known by the public (not for the unauthorized disclosure to the public by the Party receiving the information); (b) the information disclosed as requested by applicable laws or regulations; or (c) any information needed to be disclosed by any Party to its legal or financial consultants in connection with the contemplated transaction hereunder provided that such legal or financial consultants comply with the confidentiality obligations similar with this provision. If any working personnel of or institutions engaged by any Party make a disclosure of any confidential information, it shall be deemed as a disclosure made by such Party and such Party shall undertake the breach liabilities pursuant to this Agreement. This provision shall survive after this Agreement is terminated for whatever reasons.

 

2

 

5.                                      BREACH

 

5.1                               The Parties shall strictly abide by the provisions hereof. In the event of any breach by one Party, the non-breaching Party shall issue a notice to request the breaching Party to rectify the breach within 30 days since its discovery of the breach and the breaching Party shall rectify the breach within 30 days upon the receipt of the notice. If the breaching Party refuses to rectify the breach, it shall be deemed as a material breach.

 

5.2                               Where Maodong Xu breaches and refuses to rectify such breach, the Company shall have the right to request him to pay 30% of the difference between the estimated working capital needed for the Company’s sustainable operation less the working capital paid by Maodong Xu during the term hereof as the liquidated damage.

 

6.                                      GOVERNING LAW AND DISPUTE SETTLEMENT

 

6.1                               This Agreement shall be governed by and construed according to the laws of the People’s Republic of China.

 

6.2                               Any dispute arising out of the interpretation and performance of this Agreement shall be first resolved by the Parties through friendly negotiation. If any dispute is not resolved within 30 days after one Party issues a written notice to the other Party requesting negotiation, any Party could submit the dispute to Beijing Arbitration Commission for arbitration according to its arbitration rules then effective. The arbitration shall take place in Beijing and the arbitration language shall be Chinese. The arbitration award shall be final and binding to both Parties.

 

7.                                      MISCELLANEOUS.

 

7.1                               If any one or more provisions hereof are determined as invalid, illegal or unenforceable in any aspect under any law or regulation, the validity, legality and enforceability of the remaining provisions shall not be thus affected or impaired in any aspect. The Parties shall, through the negotiation in good faith, replace those invalid, illegal or unenforceable provisions with valid provisions to the greatest extent permitted by laws and expected by the Parties, the economic effect of which shall be substantially identical to that produced by those invalid, illegal or unenforceable provisions.

 

7.2                               The Parties may modify and supplement this Agreement in writing. Any modification and/or supplemental agreement made by the Parties to this Agreement shall be an inseparable part of this Agreement and shall have the same legal effect with this Agreement.

 

3

 

7.3                               All titles and headings used herein are only for reference convenience, and shall not be used to construe or interpret this Agreement. Unless otherwise referred to, the sections referred to herein shall mean the relevant sections of this Agreement.

 

[The Below is Intentionally Left Blank.]

 

4

 

[Signature Page]

 

IN WITNESS WHEREOF, the Parties to this Agreement have executed this Agreement as of the date first written above.

 

 

	
MAODONG XU
    	
COMPANY
    
	
 
    	
 
    
	
 
    	
 
    
	
Maodong Xu
    	
WOWO LIMITED
    
	
 
    	
 
    
	
 
    	
 
    
	
By:
    	
 
    	
 
    	
By:
    	
 
    
	
 
    	
Name: Maodong Xu
    
	
 
    	
Title: DirectorExhibit 10.14

 

Debt-to-Equity Conversion Agreement

 

Party A: Xu, Maodong

ID Card No.:

Address:

 

Party B: WOWO Limited

Registered Address:

Authorized Representative: Xu, Maodong

 

Whereas,

 

1.              Party B is a limited liability company incorporated and legally existing under the laws of Cayman Islands. Party B proposes to initiate an initial public offering of shares (“IPO”) on Nasdaq Global Market;

 

2.              To the date of this Agreement, Party A has granted to Party B interest-free loans of RMB 323,918,000 and US$ 250,000 in total. Moreover, Party A and Party B expect that, for the purpose of facilitating Party B’s business development, Party A will continue to grant interest-free loans to Party B according to the operation needs of Party B for working capital from the date of this Agreement till the consummation of IPO (the granted loans and the loans to be granted after the date hereof shall be collectively referred to as “Debts”);

 

3.              Party A and Party B agree that Party A may convert the Debts over Party B into the equity interest, i.e. Party B shall issue Party A a certain number of shares with the aggregate value equivalent to the Debts upon the IPO, and Party A shall hold the equity interests of Party B.

 

4.              Party B has approved to convert the Debts owed by it to Party A into equity via shareholders resolution.

 

Therefore, through friendly negotiation, Party A and Party B hereby reach the following agreement on the debt-to-equity conversion, which shall be abided by both Parties.

 

I.                Party A and Party B shall jointly confirm the total amount of the Debts owed by Party B to Party A in writing on the IPO date.

 

II.           Party A agrees to convert the Debts owed to it by Party B into share equity upon the IPO of Party B, and the number of shares corresponding to the Debts shall be calculated at the issuing price of per share on the IPO date. The specific number of shares will be calculated and confirmed by the Parties on the date of the consummation of IPO.

 

 

III.      In consideration of the debt-to-equity conversion, the loans owed by Party B to Party A shall be settled upon issuance of shares by Party B to Party A as set forth in Article I.

 

IV.       Breach: Party B shall issue Party A that number of shares for debt-to-equity conversion on the date of the consummation of IPO. Otherwise, Party A shall have the right to unilaterally terminate this Agreement and request Party B to repay all owed loans within the time limit notified by Party A according to the relevant loan contracts.

 

V.            Any matters uncovered by this Agreement shall be determined separately by the Parties through negotiation.

 

VI.       This Agreement shall come into force upon signed and affixed the official chop by both Party A and Party B.

 

VII.  This Agreement shall be made in four (4) copies with each Party holding two (2). All copies shall have the same legal effect.

 

 

	
Party A: Xu Maodong
    	
Party B: WOWO Limited
    
	
Signed by:
    	
/s/ Xu Maodong
    	
 
    	
Signed by:
    	
/s/ Xu Maodong
    
	
 
    	
 
    	
Representative: Xu   Maodong
    
	
 
    	
 
    
	
 
    	
 
    
	
Date:   September 19, 2014

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00239-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00239-of-00352.parquet"}]]