Document:

EX-4.7

Exhibit 4.7

EXECUTION VERSION

 

INVESTOR’S RIGHTS AGREEMENT

by and among

SOUFUN HOLDINGS LIMITED,

GENERAL ATLANTIC MAURITIUS LIMITED,

HUNT 7-A GUERNSEY L.P. INC,

HUNT 7-B GUERNSEY L.P. INC,

HUNT 6-A GUERNSEY L.P. INC,

NEXT DECADE INVESTMENTS LIMITED,

MEDIA PARTNER TECHNOLOGY LIMITED

and

DIGITAL LINK INVESTMENTS LIMITED

 

Dated: August 13, 2010

 

 

 

 

Table of Contents

	 	 	 	 	 
	 	 	Page
	 
	 	 	 	 
	ARTICLE I DEFINITIONS
	 	 	1	 
	1.1 Definitions
	 	 	1	 
	 
	 	 	 	 
	ARTICLE II TRANSFER RESTRICTIONS
	 	 	8	 
	2.1 Lock-Up
	 	 	8	 
	2.2 Transfer to Competitors
	 	 	9	 
	2.3 Right of First Offer
	 	 	9	 
	2.4 Tag-Along Rights
	 	 	11	 
	 
	 	 	 	 
	ARTICLE III CORPORATE GOVERNANCE
	 	 	12	 
	3.1 Appointment of General Atlantic Designee and Apax Designee
	 	 	12	 
	3.2 Re-election of General Atlantic Nominee and Apax Nominee
	 	 	13	 
	3.3 Reimbursement; Insurance
	 	 	13	 
	3.4 Termination
	 	 	13	 
	3.5 Committees
	 	 	13	 
	 
	 	 	 	 
	ARTICLE IV REPRESENTATIONS AND WARRANTIES OF THE COMPANY
	 	 	14	 
	4.1 Corporate Existence and Power
	 	 	14	 
	4.2 Authorization; No Contravention
	 	 	14	 
	4.3 Governmental Authorization; Third Party Consents
	 	 	15	 
	4.4 Binding Effect
	 	 	15	 
	4.5 Litigation
	 	 	15	 
	4.6 Intellectual Property
	 	 	15	 
	4.7 Compliance with Laws
	 	 	16	 
	4.8 SAFE 75
	 	 	17	 
	4.9 PFIC
	 	 	17	 
	4.10 Capitalization
	 	 	17	 
	4.11 No Default or Breach; Contractual Obligations
	 	 	17	 
	4.12 Private Placement Memorandum; Financial Statements
	 	 	17	 
	4.13 No Material Adverse Change
	 	 	18	 
	4.14 Broker’s, Finder’s or Similar Fees
	 	 	19	 
	 
	 	 	 	 
	ARTICLE V REPRESENTATIONS AND WARRANTIES OF THE INVESTORS
	 	 	19	 
	5.1 Existence and Power
	 	 	19	 
	5.2 Authorization; No Contravention
	 	 	19	 
	5.3 Governmental Authorization; Third Party Consents
	 	 	19	 
	5.4 Binding Effect
	 	 	19	 
	 
	 	 	 	 
	ARTICLE VI COVENANTS
	 	 	20	 
	6.1 PFIC Status
	 	 	20	 
	6.2 Banking Relationship
	 	 	20	 

 

 

	 	 	 	 	 
	 	 	Page
	 
	 	 	 	 
	6.3 Preemptive Rights
	 	 	20	 
	6.4 No Issuance; Outstanding Shares
	 	 	21	 
	6.5 Contemplated IPO
	 	 	21	 
	6.6 Acquisition Proposal
	 	 	21	 
	6.7 Offerees Voting
	 	 	22	 
	 
	 	 	 	 
	ARTICLE VII INDEMNIFICATION
	 	 	23	 
	7.1 Indemnification
	 	 	23	 
	7.2 Notification
	 	 	24	 
	7.3 Contribution
	 	 	24	 
	7.4 Limits on Indemnification
	 	 	25	 
	 
	 	 	 	 
	ARTICLE VIII TERMINATION OF AGREEMENT
	 	 	26	 
	8.1 Termination
	 	 	26	 
	8.2 Survival
	 	 	26	 
	 
	 	 	 	 
	ARTICLE IX MISCELLANEOUS
	 	 	26	 
	9.1 Survival of Representations and Warranties
	 	 	26	 
	9.2 Notices
	 	 	26	 
	9.3 Successors and Assigns; Third Party Beneficiaries
	 	 	28	 
	9.4 Amendment and Waiver
	 	 	29	 
	9.5 Counterparts
	 	 	29	 
	9.6 Headings
	 	 	29	 
	9.7 Governing Law
	 	 	29	 
	9.8 Waiver of Jury Trial
	 	 	30	 
	9.9 Severability
	 	 	30	 
	9.10 Rules of Construction
	 	 	30	 
	9.11 Entire Agreement
	 	 	30	 
	9.12 Public Announcements
	 	 	30	 
	9.13 Further Assurances
	 	 	31	 
	9.14 Representations, Warranties and Covenants.
	 	 	31	 
	9.15 Specific Performance
	 	 	31	 
	9.16 New Shareholders’ Agreement and New Articles
	 	 	31	 
	 
	 	 	 	 
	Schedule 1 List of Current Competitors
	 	 	 	 
	 
	 	 	 	 
	Exhibit A Terms of New Shareholders’ Agreement
	 	 	 	 

 

 

INVESTOR’S RIGHTS AGREEMENT

          INVESTOR’S RIGHTS AGREEMENT, dated August 13, 2010 (this “Agreement”), by and among
SouFun Holdings Limited, an exempted company with limited liability incorporated under the
laws of the Cayman Islands (the “Company”), General Atlantic Mauritius Limited, a
Mauritius private company limited by shares (the “GA Shareholder”), Hunt 7-A Guernsey L.P.
Inc (“Apax 7-A”), Hunt 7-B Guernsey L.P. Inc (“Apax 7-B”) and Hunt 6-A Guernsey
L.P. Inc (“Apax 6-A” and, together with Apax 7-A and Apax 7-B, collectively, the “Apax
Shareholder” and, together with the GA Shareholder, the “Investors”), Next Decade
Investments Limited, a limited liability company incorporated in the British Virgin Islands
(“Next Decade”), Media Partner Technology Limited, a limited liability company incorporated
in the British Virgin Islands (“Media Partner”) and Digital Link Investments Limited, a
limited liability company incorporated in the British Virgin Islands (“Digital Link” and,
together with Next Decade and Media Partner, the “Offerees”).

          WHEREAS, on the date hereof, Telstra International Holdings Limited, an exempted company
incorporated under the laws of Bermuda (the “Seller”), the GA Shareholder, the Apax
Shareholder, Next Decade and Digital Link entered into a Share Purchase Agreement (as amended from
time to time, the “Share Purchase Agreement”), pursuant to which the GA Shareholder, the
Apax Shareholder, Next Decade and Digital Link agreed to purchase certain Class A Ordinary Shares,
par value HK$1.00 per share (the “Class A Ordinary Shares”), of the Company from the
Seller.

          WHEREAS, in order to induce the GA Shareholder and the Apax Shareholder to agree to the
transfer restrictions set forth in Article II of this Agreement, the Company agrees to provide the
covenants, representations and warranties set forth in this Agreement.

          WHEREAS, on the date hereof, the Company, the GA Shareholder and the Apax Shareholder are
entering into the Registration Rights Agreement.

          NOW, THEREFORE, in consideration of the mutual covenants and agreements set forth herein and
for good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the
parties hereto agree as follows:

ARTICLE I

DEFINITIONS

          1.1 Definitions. As used in this Agreement, and unless the context requires a different meaning, the
following terms have the meanings indicated:

          “Acceptance Notice” has the meaning set forth in Section 2.3(b) of this Agreement.

 

 

 2

          “Acquisition Proposal” means any proposal or offer to acquire all or a substantial
part of the business, assets or properties of the Company or its Subsidiaries or Capital Stock of
the Company resulting in a change of control of the Company, directly or indirectly, whether by
merger, scheme, arrangement, consolidation, tender offer, exchange offer, business combination,
sale of substantial assets, reorganization, recapitalization, joint venture or similar transaction
involving the Company or its Subsidiaries, divisions or operations or principal business units.

          “Additional Securities” means Capital Stock or convertible debt of the Company,
convertible into or exchangeable for shares of Capital Stock or any option or warrant for such
securities.

          “ADS” means the American depositary shares representing the underlying Class A
Ordinary Shares deposited with JPMorgan Chase Bank, N.A. as the depositary.

          “Affiliate” shall mean any Person who is an “affiliate” as defined in Rule
12b-2 of the General Rules and Regulations under the Exchange Act; provided that (i) with respect
to the Apax Shareholder, “Affiliate” shall include any funds managed or advised by Apax Partners
LLP and its Affiliates and (ii) with respect to the GA Shareholder, “Affiliate” shall include any
funds managed or advised by General Atlantic Service Company, LLC and its Affiliates.

          “Agreement” means this Agreement, as the same may be amended, supplemented or modified
in accordance with the terms hereof.

          “Alternative Transaction” has the meaning set forth in the Share Purchase Agreement.

          “Alternative Transaction Closing Date” has the meaning set forth in Section 9.16(a).

          “Apax Designee” has the meaning set forth in Section 3.1 of this Agreement.

          “Apax Indemnified Party” has the meaning set forth in Section 7.1(a) of this
Agreement.

          “Apax Nominee” has the meaning set forth in Section 3.2 of this Agreement.

          “Apax Shareholder” has the meaning set forth in the preamble of this Agreement.

          “Audited Financial Statements” has the meaning set forth in Section 4.12(b) of this
Agreement.

          “Authorization” has the meaning set forth in Section 4.3 of this Agreement.

 

3

          “Board of Directors” means the Board of Directors of the Company.

          “Business Day” means any day other than a Saturday, Sunday or other day on which
commercial banks in Beijing, China, Melbourne, Australia or the State of New York are authorized or
required by law or executive order to close.

          “Capital Stock” means, with respect to any Person at any time, any and all shares,
interests, participations or other equivalents (however designated, whether voting or non-voting)
of capital stock, partnership interests (whether general or limited) or equivalent ownership
interests in or issued by such Person (including, without limitation, Class A Ordinary Shares,
Class B Ordinary Shares, American Depository Shares representing Class A Ordinary Shares,
non-voting or other ordinary shares).

          “China” or “PRC” means the People’s Republic of China and for the purpose of
this Agreement shall exclude Taiwan, the Special Administrative Region of Hong Kong and the Special
Administrative Region of Macau.

          “Claims” has the meaning set forth in Section 4.5 of this Agreement.

          “Class A Ordinary Shares” has the meaning set forth in the recitals to this Agreement.

          “Class B Ordinary Shares” means the Class B Ordinary Shares, par value HK$1.00 per
share, of the Company.

          “Closing” has the meaning set forth in the Share Purchase Agreement.

          “Closing Date” has the meaning set forth in the Share Purchase Agreement.

          “Co-Transferring Holder” has the meaning set forth in Section 2.4(d) of this
Agreement.

          “Code” means the United States Internal Revenue Code of 1986, as amended.

          “Company” has the meaning set forth in the preamble of this Agreement.

          “Commission” means the United States Securities and Exchange Commission or any similar
agency then having jurisdiction to enforce the Securities Act.

          “Competitors” means (a) the Persons named in Schedule 1 attached hereto and
(b) any Person that, in the 12 months period immediately preceding the proposed Disposition by any
Offeree or Investor, as the case may be, was one of the top three operators in China in the
industry of online real estate listing and advertising or the industry of online home furnishing
advertising, either in terms of website traffic or in terms of gross revenue.

 

4

          “Contractual Obligations” means, as to any Person, any provision of any security
issued by such Person or of any agreement, undertaking, contract, indenture, mortgage, deed of
trust or other instrument to which such Person is a party or by which it or any of its property is
bound.

          “Covered Transaction” means the sale for cash of shares of any Additional Securities,
where the primary purpose of such offering is to raise equity capital for the Company. For the
avoidance of doubt, the term “Covered Transaction” will not apply to the issuance of (a)
Options or Capital Stock of the Company, or warrants therefor, to directors, officers or employees
of the Company pursuant to any employee benefit plan, incentive award program or other compensation
arrangement or (b) Capital Stock of the Company issued as consideration in a merger or acquisition
transaction, other extraordinary business combination or joint venture approved by the Board of
Directors.

          “Digital Link” has the meaning set forth in the preamble of this Agreement.

          “Disposition” has the meaning set forth in Section 2.1 of this Agreement.

          “Exchange Act” means the United States Securities Exchange Act of 1934, as amended,
and the rules and regulations of the Commission thereunder.

          “Existing Options” has the meaning set forth in Section 4.10(c).

          “FCPA” has the meaning set forth in Section 4.7(b) of this Agreement.

          “GA Indemnified Party” has the meaning set forth in Section 7.1(a) of this Agreement.

          “GA Shareholder” has the meaning set forth in the preamble of this Agreement.

          “GAAP” means United States generally accepted accounting principles in effect from
time to time.

          “General Atlantic Designee” has the meaning set forth in Section 3.1 of this
Agreement.

          “General Atlantic Nominee” has the meaning set forth in Section 3.2 of this Agreement.

          “Governmental Authority” means the government of any nation, state, city, locality or
other political subdivision thereof, any entity exercising executive, legislative, judicial,
regulatory or administrative functions of or pertaining to government, and any corporation or other
entity owned or controlled, through stock or capital ownership or otherwise, by any of the
foregoing.

 

5

          “Indemnified Parties” has the meaning set forth in Section 7.1(a) of this Agreement.

          “Intellectual Property” has the meaning set forth in Section 4.6(a) of this Agreement.

          “Indemnity Threshold” shall have the meaning set forth in Section 7.4(c) of this
Agreement.

          “Investors” has the meaning set forth in the preamble of this Agreement.

          “Immediate Family” shall mean, with respect to any natural person, (a) such person’s
spouse, parents, grandparents, children, grandchildren and siblings (in each case whether adoptive
or biological), (b) current spouses of such person’s children, grandchildren and siblings (in each
case whether adoptive or biological), and (c) estates, trusts, partnerships and other entities of
which a material portion of the interests are held directly or indirectly by the foregoing.

          “IPO” has the meaning set forth in the Share Purchase Agreement.

          “IPO Termination Date” has the meaning set forth in the Share Purchase Agreement.

          “Lien” means (a) any mortgage, charge (whether fixed or floating), pledge, lien,
hypothecation, assignment, deed of trust, title retention, security interest or other encumbrance
of any kind, including any right granted by a transaction which, in legal terms, is not the
granting of security but which has an economic or financial effect similar to the granting of
security under applicable law, (b) any proxy, power of attorney, voting trust agreement, interest,
option, right of first offer, negotiation or refusal or transfer restriction in favor of any Person
and (c) any adverse claim as to title, possession or use.

          “Losses” has the meaning set forth in Section 7.1(a) of this Agreement.

          “Matching Proposal” means an Investor Proposal, that the Board of Directors of the
Company or any committee thereof has in writing determined in its good faith judgment (i) is
reasonably likely to be consummated in all material respects in accordance with its terms, taking
into account all legal, financial and regulatory aspects of the proposal and the Investors making
the proposal, and (ii) if consummated, would result in a transaction at least as favorable to the
Company’s stockholders from a financial point of view than the transaction contemplated by any
Acquisition Proposal.

          “Material Adverse Effect” means a material adverse effect on the affairs, management,
financial position, shareholders’ equity or results of operations of the Company and its
consolidated Subsidiaries taken as a whole.

 

6

          “Media Partner” has the meaning set forth in the preamble of this Agreement.

          “Money Laundering Laws” has the meaning set forth in Section 4.7(c) of this Agreement.

          “M&A” means the memorandum and articles of association of the Company in effect on the
date hereof, as the same may be amended from time to time.

          “New Options” means Options of the Company (i) up to an aggregate total of 4,000,000
Options to be issued and granted at the closing of the IPO (but excluding the Existing Options),
(ii) each having rights with respect to no more than one Class A Ordinary Share, (iii) each having
an exercise price of not less than the IPO Price and (iv) issued and granted to directors, officers
or employees of the Company as part of the Company’s management incentive arrangements.

          “Next Decade” has the meaning set forth in the preamble of this Agreement.

          “Non-Transferring Holders” has the meaning set forth in Section 2.4(a) of this
Agreement.

          “OFAC” has the meaning set forth in Section 4.7(d) of this Agreement.

          “Offered Period” has the meaning set forth in Section 2.3(b) of this Agreement.

          “Offered Price” has the meaning set forth in Section 2.3(a) of this Agreement.

          “Offered Shares” has the meaning set forth in Section 2.3(a) of this Agreement.

          “Offerees” has the meaning set forth in the preamble of this Agreement.

          “Options” means options to subscribe for, purchase or otherwise directly acquire
Capital Stock of the Company.

          “Orders” has the meaning set forth in Section 4.2 of this Agreement.

          “Person” means any individual, firm, corporation, partnership, trust, incorporated or
unincorporated association, joint venture, joint stock company, limited liability company,
Governmental Authority or other entity of any kind, and shall include any successor (by merger or
otherwise) of such entity.

          “PFIC” means a “passive foreign investment company” within the meaning of Section 129
of the Code.

 

7

          “Pre-emptive Acceptance Notice” has the meaning set forth in Section 6.3(b) of this
Agreement.

          “Pre-emptive Acceptance Period” has the meaning set forth in Section 6.3(b) of this
Agreement.

          “Pre-emptive Notice” has the meaning set forth in Section 6.3(a) of this Agreement.

          “Pre-emptive Notice Time” has the meaning set forth in Section 6.3(a) of this
Agreement.

          “Pre-emptive Right” has the meaning set forth in Section 6.3(a) of this Agreement.

          “Private Placement Memorandum” means the Confidential Private Placement Memorandum
dated August 6, 2010, delivered by the Company to the Investors on the date hereof for the purpose
of providing disclosure in connection with the proposed purchase by the Investors of Class A
Ordinary Shares pursuant to the Share Purchase Agreement.

          “Pro Rata” means, with respect to any offer of Additional Securities, the percentage
of outstanding shares of Capital Stock held by an Investor.

          “Purchased Shares” has the meaning set forth in the Share Purchase Agreement.

          “Registration Rights Agreement” means the Registration Rights Agreement, dated the
date hereof, between the Company, the Apax Shareholder and the GA Shareholder as amended from time
to time.

          “Requirements of Law” means, as to any Person, any law, statute, treaty, rule,
regulation, right, privilege, qualification, license or franchise or determination of an arbitrator
or a court or other Governmental Authority or stock exchange, in each case applicable or binding
upon such Person or any of its property.

          “Restated M&A” means the amended and restated memorandum and articles of association
of the Company that will take effect upon the closing of the IPO.

          “Rule 144” has the meaning set forth in Section 2.2(i) of this Agreement.

          “Securities Act” means the United States Securities Act of 1933, as amended, and the
rules and regulations of the Commission thereunder.

          “Seller” has the meaning set forth in the recitals of this Agreement.

          “Share Equivalents” means any security or obligation which is by its terms convertible
into or exchangeable or exercisable for Class A Ordinary Shares, Class B

 

8

Ordinary Shares or other Capital Stock of the Company, and any option, warrant or other
subscription or purchase right with respect to Class A Ordinary Shares, Class B Ordinary Shares or
such other Capital Stock of the Company.

          “Share Purchase Agreement” has the meaning set forth in the recitals of this
Agreement.

          “Subsidiaries” means, as of the relevant date of determination, with respect to any
Person, a corporation or other Person of which 50% or more of the voting power of the outstanding
voting equity securities or 50% or more of the outstanding economic equity interest is held,
directly or indirectly, by such Person. Unless otherwise qualified, or the context otherwise
requires, all references to a “Subsidiary” or to “Subsidiaries” in this Agreement
shall refer to a Subsidiary or Subsidiaries of the Company. For the avoidance of doubt, the
Subsidiaries of the Company shall include the 11 consolidated controlled entities referred to as
the “PRC Domestic Entities” in the Private Placement Memorandum.

          “Tag-Along Offer” has the meaning set forth in Section 2.4(a) of this Agreement.

          “Tag-Along Ratio” has the meaning set forth in Section 2.4(c) of this Agreement.

          “Tag Transaction” has the meaning set forth in Section 2.4(a) of this Agreement.

          “Transactions” means the purchase by the Purchasers (as defined in the Share Purchase
Agreement) from the Seller of the Purchased Shares pursuant to terms and conditions of the Share
Purchase Agreement and the other transactions contemplated under this Agreement and the
Registration Rights Agreement.

          “Transfer Notice” has the meaning set forth in Section 2.3(a) of this Agreement.

          “Transferee” has the meaning set forth in Section 2.3(a) of this Agreement.

          “Transferring Holder” has the meaning set forth in Section 2.4(a) of this Agreement.

          “Transferring Shareholder” has the meaning set forth in Section 2.3(a) of this
Agreement.

ARTICLE II

TRANSFER RESTRICTIONS

          2.1 Lock-Up. During the period that commences on the date hereof and continues until and include the
date that is 180 days following consummation of the

 

9

IPO (the “Lock-Up Period”), the Investors and the Offerees will not, directly or
indirectly, without the prior written consent of (i) in the case of the Offerees, the Investors and
the Company and (ii) in the case of the Investors, the Company, offer, sell, contract to sell,
pledge, purchase any option or contract to sell (including any short sale), grant any option, right
or warrant to purchase (other than the call option granted by the Investors to the Offerees on the
date hereof) or otherwise dispose of or announce any such disposition of, any Capital Stock or
Share Equivalents of the Company which may be deemed to be beneficially owned by the Offerees or
the Investors in accordance with the rules and regulations of the United States Securities and
Exchange Commission, Capital Stock which may be issued upon exercise of a stock option or warrant
and any other security convertible into or exchangeable for shares of Capital Stock or file or
cause to be filed any registration statement under the U.S. Securities Act of 1933, as amended
(each of the foregoing referred to as a “Disposition”); provided, however,
that nothing in this Section 2.1 shall prevent or restrict the Investors and the Offerees from (a)
Disposing of its shares of Capital Stock in connection with a sale of the Company (whether by
merger, tender offer, plan of arrangement or other business combination transaction) or (b)
transferring its shares of Capital Stock to any Immediate Family, Affiliate, stockholder, limited
partner or member thereof (provided that any such transferee agrees to be bound by the terms of
this Article II).

          2.2 Transfer to Competitors. None of the Offerees or any Investor will, without the prior written consent of the Board
of Directors of the Company, knowingly transfer, in a single transaction or a series of related
transactions, shares of Capital Stock representing more than 5% of the total issued and outstanding
share capital of the Company (on a fully diluted basis) to any of the Competitors (a) in a private
placement or (b) in a public offering if such Investor has actual knowledge that the purchaser is a
Competitor. Notwithstanding the foregoing, nothing in this Section 2.2 shall in any way restrict
such Investor’s ability to Dispose of any of its shares of Capital Stock (i) under Rule 144 under
the Securities Act (or any similar provisions then in force) (“Rule 144”), (ii) through a
broker, dealer or other market maker making a market in shares of Capital Stock, (iii) through the
facilities of the New York Stock Exchange or any other securities exchange or quotation system on
which shares of Capital Stock are quoted, listed or traded, (iv) to an Affiliate of such Investor
or in a distribution to such Investor’s ultimate investors or (v) in a sale of the Company.

          2.3 Right of First Offer.

               (a) If any Offeree or any Investor (such party, a “Transferring Shareholder”) wishes
to transfer in a single transaction or a series of related transactions Class B Ordinary Shares,
Class A Ordinary Shares or American Depositary Shares representing Class A Ordinary Shares, as the
case may be, in each case representing 10% or more of the total issued and outstanding share
capital of the Company (on a fully diluted basis and treating the Offerees collectively) in a
private placement, such Transferring Shareholder shall send written notice (the “Transfer
Notice”) to each other party hereto holding shares of Capital Stock of the Company (the
“Non-Transferring Shareholders”), which notice shall state (i) (if known) the name of the
proposed

 

10

transferee (the “Transferee”), (ii) the number of Class B Ordinary Shares, Class A
Ordinary Shares or American Depositary Shares representing Class A Ordinary Shares, as the case may
be, proposed to be transferred (the “Offered Shares”), (iii) the proposed price per share
for the Offered Shares (the “Offered Price”) and (iv) the expected date of consummation of
the proposed transfer.

               (b) For a period of ten (10) days after delivery of a Transfer Notice (the “Offered
Period”), each Non-Transferring Shareholder shall have the right, exercisable by delivering a
written notice of exercise (an “Acceptance Notice”), to purchase in aggregate all, but not
less than all, of the Offered Shares at a cash purchase price per share not less than the Offered
Price. The Offerees and the Investors, as the case may be, shall also have the right to designate
their respective Affiliates to purchase part or all of the Offered Shares. An Acceptance Notice
shall be irrevocable and shall constitute a binding agreement by the Non-Transferring Shareholder
who have delivered such Acceptance Notice (the “Exercising Shareholders”) to purchase the
Offered Shares on the terms and conditions set forth in such Acceptance Notice. In the event more
than one Non-Transferring Shareholder shall deliver an Acceptance Notice to the Transferring
Shareholder within the Offered Period, the number of the Offered Shares subject to each such
binding agreement shall be proportionate to the relative percentage ownership of each Exercising
Shareholder or on such other basis as such Exercising Shareholders shall agree. In the definitive
agreements to be entered into among the Transferring Shareholder and the Exercising Shareholder(s)
(or any of its or their Affiliates) for the sale of the Offered Shares (if any), the Transferring
Shareholder shall only represent and warrant to the Exercising Shareholder(s) (or any of its or
their Affiliates) as to the title of the Offered Shares. The failure by any Non-Transferring
Shareholder to give an Acceptance Notice within the Offer Period shall be deemed to be a waiver of
its rights under this Section 2.3.

               (c) Unless the Non-Transferring Shareholders (on behalf of themselves and their respective
Affiliates) elect to purchase all of the Offered Shares under Section 2.3(b), the Transferring
Shareholder may transfer all of the Offered Shares at a price per share not less than the Offered
Price within 12 months after the giving of the Transfer Notice.

               (d) The closing of any purchase of Offered Shares by the Exercising Shareholder(s) (or any of
its or their Affiliates) shall be held at the principal office of the Company at 10 a.m. local time
on the fifteenth day after the giving of the Transfer Notice. At such closing, the Transferring
Shareholder shall deliver certificates representing the Offered Shares, accompanied by duly
executed instruments of transfer. The Exercising Shareholder(s) (or any of its or their
Affiliates) shall deliver at such closing payment in full of the cash purchase price for the
Offered Shares. At such closing, all of the parties to the transaction and the Company shall
execute such additional documents as may be necessary or appropriate to effect the sale of the
Offered Shares to the Exercising Shareholder(s) (or any of its or their Affiliates).

               (e) Notwithstanding anything to the contrary set forth in this Section 2.3, this Section 2.3
shall not be applicable to any Dispositions of shares of

 

11

Capital Stock (i) under Rule 144 or pursuant to any public offering, (ii) through a broker,
dealer or other market maker making a market in Capital Stock, (iii) through the facilities of the
New York Stock Exchange or any other securities exchange or quotation system on which share of
Capital Stock are quoted, listed or traded, (iv) to an Affiliate of the Transferring Shareholder
or, in the case of the Investors, in a distribution to ultimate investors of any Investor or (v) in
a sale of the Company.

          2.4 Tag-Along Rights.

               (a) If any Offeree or any Investor wishes to sell (such party, a “Transferring
Holder”) any Class B Ordinary Shares, Class A Ordinary Shares (the definition of “Class A
Ordinary Shares” herein shall, for the avoidance of doubt, include shares of Capital Stock of
the Company that would convert into Class A Ordinary Shares in connection with the Tag Transaction)
or American Depositary Shares representing Class A Ordinary Shares, as the case may be, in one
transaction or a series of related transactions that constitute a Tag Transaction (the
“Tag-Along Offer”), the Transferring Holder will provide at least ten Business Days’
written notice of such Tag-Along Offer to the Company and each other party hereto holding shares of
Capital Stock of the Company (such other parties, the “Non-Transferring Holders”) in the
manner set forth in this Section 2.4. Such written notice will identify the purchaser, the number
of shares of Capital Stock proposed to be purchased from the Transferring Holder (or if greater,
the number of shares of Capital Stock such Person is willing to purchase), the Tag-Along Ratio
(assuming full participation), the consideration offered and any other material terms and
conditions of the Tag-Along Offer, including the form of the proposed sale agreement. If the offer
price consists in part or in whole of consideration other than cash, the Transferring Holder will
provide such information, to the extent reasonably available to the Transferring Holder, relating
to such consideration as the Non-Transferring Holders may reasonably request in order to evaluate
such non-cash consideration with the Transferring Holder using reasonable best efforts to obtain
such information. A “Tag Transaction” shall mean any transaction or series of related
transactions involving the sale, transfer or other disposition of capital stock representing, in
aggregate (and treating the Offerees collectively), (A) greater than 10% of the aggregate number of
Capital Stock outstanding (which number of shares outstanding shall be calculated assuming
conversion of any shares of Capital Stock) or (B) greater than 10% of the ordinary voting power in
the election of directors of all the outstanding voting securities of the Company, other than, in
the case of each of the foregoing (A) and (B), (i) under Rule 144 or pursuant to any public
offering, (ii) through a broker, dealer or other market maker making a market in shares of Capital
Stock, (iii) through the facilities of the New York Stock Exchange or any other securities exchange
or quotation system on which shares of Capital Stock are quoted, listed or traded, (iv) to an
Affiliate of such Investor or in a distribution to such Investor’s ultimate investors or (v) in a
sale of the Company.

               (b) Each Non-Transferring Holder will have the right, exercisable as set forth below, to
accept the Tag-Along Offer for up to the number of shares of Capital Stock determined pursuant to
Section 2.4(c). Each Non-Transferring Holder will, within fifteen (15) Business Days after receipt
of the written notice from the Transferring Holder, provide the Transferring Holder with an
irrevocable written notice

 

12

specifying the number of shares of Capital Stock such Non-Transferring Holder agrees to
transfer, not to exceed the number as contemplated above, and will simultaneously provide a copy of
such notice to the Company. If any Non-Transferring Holder does not deliver such written notice
accepting the Tag-Along Offer within fifteen (15) Business Days following receipt of written notice
from the Transferring Holder, such Non-Transferring Holder will be deemed to have waived any and
all rights under this Section 2.4 with respect to the transfer of shares of Capital Stock pursuant
to such Tag-Along Offer (but not with respect to any other or subsequent transfer).

               (c) Each Non-Transferring Holder will have the right to sell (and the Transferring Holder
will, to the extent necessary, reduce the amount or number of shares of Capital Stock to be sold by
the Transferring Holder by a corresponding amount), pursuant to the Tag-Along Offer, up to a number
of shares of Capital Stock equal to the product of the total number of shares of Capital Stock
offered to be purchased as set forth in such Tag-Along Offer multiplied by a fraction (the
“Tag-Along Ratio”), the numerator of which will be the aggregate amount or number of shares
of Capital Stock owned by such Non-Transferring Holder and the denominator of which will be the
aggregate number of shares of Capital Stock owned by the Transferring Holder and the
Non-Transferring Holders who have exercised their right to sell under Section 2.4(b) pursuant to
such Tag-Along Offer.

               (d) The Transferring Holder will have ninety (90) days from their mailing of the Tag-Along
Offer in which to consummate the sale of shares of Capital Stock owned by such Transferring Holder
and the Non-Transferring Holders which have accepted the Tag-Along Offer (each, a
“Co-Transferring Holder”) as contemplated by such offer at the price and on the terms
contained in such notice; provided, that if the sale of such shares of Capital Stock is
subject to any prior regulatory approval, the time period during which such sale must be
consummated shall be extended solely for such purposes until the expiration of five (5) Business
Days after all such approvals shall have been received, but in no event shall such period be
extended for more than 120 days from the date of mailing of the Tag-Along Offer. Such sale may
only be consummated at a price of not more than the maximum per share price set forth in the
written notice from the Transferring Shareholders delivered pursuant to Section 2.4(b) and
otherwise on terms and conditions in the aggregate not more favorable in any material respect to
the Transferring Holder and the Co-Transferring Holders than were set forth in such notice. If, at
the end of the period referred to in the first sentence of this paragraph, the Transferring Holder
have not completed such sale, the right of the Transferring Holder to effect such sale will
terminate and any subsequently proposed transfer will again be subject to compliance with this
Section 2.4.

ARTICLE III

CORPORATE GOVERNANCE

          3.1 Appointment of General Atlantic Designee and Apax Designee. Subject to the applicable Requirements of
Law, no later than the Closing Date, the Company
shall cause two vacancies to be created on its Board of Directors and cause to be appointed to its
Board of Directors, either at a meeting of the Board of Directors or by

 

13

written resolution in lieu of a meeting of the Board of Directors, effective immediately after
the closing of the IPO, (a) one Person designated by the GA Shareholder, who shall initially be
Jeff Leng (the “General Atlantic Designee”), and (b) one Person designated by the Apax
Shareholder, who shall initially be Tom Hall (the “Apax Designee”). In the event that the
General Atlantic Designee or the Apax Designee shall cease to serve as director for any reason, the
Company shall use its reasonable best efforts to cause the vacancy resulting thereby to be filled
by another designee of the appointing Investor.

          3.2 Re-election of General Atlantic Nominee and Apax Nominee. Subject to the applicable Requirements of Law, at each meeting of the shareholders of the
Company after the Closing Date at which directors of the class of which the General Atlantic
Designee or the Apax Designee is a member are elected, (a) the GA Shareholder shall be entitled to
designate to the Board of Directors the General Atlantic Designee or another Person (such Person,
the “General Atlantic Nominee”) designated by the GA Shareholder to serve as one of the
directors of the Company, and (b) the Apax Shareholder shall be entitled to designate to the Board
of Directors the Apax Designee or another Person (such Person, the “Apax Nominee”)
designated by Apax Shareholder to serve as one of the directors of the Company. The Company shall
use its reasonable best efforts to cause the General Atlantic Nominee and the Apax Nominee to be
included in the slate of nominees recommended by the Board of Directors to the Company’s
shareholders for election as directors, and the Company shall use its reasonable best efforts to
cause the election of the General Atlantic Nominee and the Apax Nominee, including, without
limitation, voting any proxies it holds, and using its reasonable best efforts to cause any
officers of the Company who hold proxies to vote such proxies, except, in either case, as otherwise
directed by the shareholder who submitted such proxy, in favor of the election of the General
Atlantic Nominee and the Apax Nominee.

          3.3 Reimbursement; Insurance.

               (a) The Company shall provide such reimbursement and other benefits to the General Atlantic
Designee and the Apax Designee as is consistent with the reimbursement and other related benefits
provided to other members of the Board of Directors in their capacities as directors of the Company

               (b) The Company shall indemnify, or provide for the indemnification of, the General Atlantic
Designee and the Apax Designee and provide the General Atlantic Designee and the Apax Designee with
commercially reasonable and adequate director and officer insurance from a reputable insurer to the
same extent it indemnifies and provides insurance for the non-executive members of the Board of
Directors.

          3.4 Termination. This Article III shall terminate and be of no further force and effect with respect to an
Investor at such time as such Investor, together with its Affiliates, own, in the aggregate, less
than 10% of the Class A Ordinary Shares.

          3.5 Committees. Each of the Audit Committee of the Board of Directors, the Compensation Committee of the
Board of Directors and the Nomination

 

14

and Corporate Governance Committee of the Board of Directors (or any other committees
performing similar functions of the foregoing committees), shall include at least one of the
General Atlantic Designee or the Apax Designee (as agreed by the GA Shareholder and the Apax
Shareholder). Such designee shall meet all requirements under applicable law and stock exchange
rules for service on such committee(s). In the event such designee is unable to meet all
requirements under applicable law and stock exchange rules for service on any committee, such
designee shall be entitled to attend the meetings of such committee as a non-voting observer, with
full rights to receive information and documents presented at such meetings.

ARTICLE IV

REPRESENTATIONS AND WARRANTIES OF THE COMPANY

          The Company hereby represents and warrants to the Investors on and as of the date hereof and
the Closing Date as follows:

          4.1 Corporate Existence and Power. The Company has been duly incorporated and is validly existing as a corporation in good
standing under the laws of the Cayman Islands, with power and authority (corporate and other) to
own its properties and conduct its business as described in the Private Placement Memorandum, and
has been duly qualified as a foreign corporation for the transaction of business and is in good
standing under the laws of each other jurisdiction in which it owns or leases properties or
conducts any business so as to require such qualification, or is subject to no material liability
or disability by reason of the failure to be so qualified in any such jurisdiction. The Company
has no Subsidiaries except those entities set forth in the Private Placement Memorandum; each
Subsidiary of the Company has been duly incorporated or formed and is validly existing as a
corporation or limited liability company under the laws of its jurisdiction of incorporation or
formation; and each Subsidiary of the Company is in good standing (to the extent such concept is
recognized in its jurisdiction of incorporation or formation), except where the failure of any
Subsidiary to be in good standing would not, individually or in the aggregate, have a Material
Adverse Effect or interfere with the consummation of the Transactions.

          4.2 Authorization; No Contravention. The execution, delivery and performance by the Company of this Agreement, the Registration
Rights Agreement and the Transactions and the sale of the Purchased Shares by the Seller (a) have
been duly authorized by all necessary corporate action of the Company, (b) do not contravene the
terms of the M&A or the Restated M&A, (c) do not violate, conflict with or result in any breach or
default of (or with due notice or lapse of time or both would result in any breach, default or
contravention of), or the creation of any Lien under, any Contractual Obligation of the Company or
any of its Subsidiaries or any Requirement of Law applicable to the Company or any of its
Subsidiaries and (d) do not violate any judgment, injunction, writ, award, decree or order
(collectively, “Orders”) of any Governmental Authority against, or binding upon, the
Company or any of its Subsidiaries.

 

15

          4.3 Governmental Authorization; Third Party Consents. No consent, approval, authorization, order, registration or qualification
(“Authorization”) of or with any Governmental Authority or any other Person is required for
the execution, delivery or performance by, or enforcement against, the Company of this Agreement,
the Registration Rights Agreement or the consummation of the Transactions.

          4.4 Binding Effect. This Agreement and the Registration Rights Agreement have been duly executed and delivered
by the Company, and this Agreement and the Registration Rights Agreement constitute the legal,
valid and binding obligation of the Company, enforceable against the Company in accordance with
their respective terms, except as enforceability may be limited by applicable bankruptcy,
insolvency, reorganization, fraudulent conveyance or transfer, moratorium or similar laws affecting
the enforcement of creditors’ rights generally.

          4.5 Litigation. Other than as set forth in the Private Placement Memorandum, there are no actions, suits,
proceedings, claims, complaints, disputes, arbitrations or investigations (collectively,
“Claims”) pending to which the Company or any of its Subsidiaries is a party or of which
any property of the Company or any of its Subsidiaries is the subject which, if determined
adversely to the Company or any of its Subsidiaries, would individually or in the aggregate have a
Material Adverse Effect or interfere with the consummation of the Transactions; and, to the best of
the best knowledge of the Company, no such Claims are threatened or contemplated by any
Governmental Authority or other Person.

          4.6 Intellectual Property.

               (a) Other than as set forth in the Private Placement Memorandum, the Company and its
Subsidiaries own, possess, license or have other rights to use, all patents, patent applications,
trade and service marks, trade and service mark registrations, trade names, domain names,
copyrights, licenses, inventions, trade secrets, technology, know-how and other intellectual
property (collectively, the “Intellectual Property”) necessary for the conduct of the
business of the Company and its Subsidiaries, except for such lack of Intellectual Property which
would not, individually or in the aggregate, have a Material Adverse Effect.

               (b) Other than as set forth in the Private Placement Memorandum, there are no pending or, to
the knowledge of the Company, threatened Claims against the Company or any of its Subsidiaries, or
to the knowledge of the Company, against any other Person, (i) challenging the rights of the
Company or any of its Subsidiaries in or to any such Intellectual Property, (ii) challenging the
validity or scope of any such Intellectual Property, or (iii) stating that the Company or any of
its Subsidiaries infringes or otherwise violates any patent, trademark, copyright, trade secret or
other proprietary rights of others, except for such Claims which would not, individually or in the
aggregate, have a Material Adverse Effect.

               (c) Other than as set forth in the Private Placement Memorandum, there is no infringement by
third parties of any such Intellectual Property,

 

16

except for such infringement which would not, individually or in the aggregate, have a
Material Adverse Effect.

          4.7 Compliance with Laws.

               (a) Other than as set forth in the Private Placement Memorandum, the Company and its
Subsidiaries are in compliance with all Requirements of Law, except where the failure to be
compliant would not, individually or in the aggregate, have a Material Adverse Effect.

               (b) Neither the Company nor any of its Subsidiaries nor any director, officer, agent or
employee of the Company or any of its Subsidiaries is aware of or has taken any action, directly or
indirectly, that would result in a violation by such persons of the Foreign Corrupt Practices Act
of 1977, as amended, and the rules and regulations thereunder (“FCPA”), including, without
limitation, making use of the mails or any means or instrumentality of interstate commerce
corruptly in furtherance of an offer, payment, promise to pay or authorization of the payment of
any money, or other property, gift, promise to give, or authorization of the giving of anything of
value to any “foreign official” (as such term is defined in the FCPA) or any foreign political
party or official thereof or any candidate for foreign political office, in contravention of the
FCPA; the Company and its Subsidiaries have conducted their businesses in compliance with the FCPA
(as applicable) and have instituted and maintain policies and procedures designed to ensure, and
which are reasonably expected to continue to ensure, continued compliance therewith.

               (c) The operations of the Company and its Subsidiaries are and have been conducted at all
times in compliance with applicable financial recordkeeping and reporting requirements of the
Currency and Foreign Transactions Reporting Act of 1970, as amended, and the rules and regulations
thereunder (collectively, the “Money Laundering Laws”) and no Claim by or before any court
or Governmental Authority or any arbitrator involving the Company or any of its Subsidiaries with
respect to the Money Laundering Laws is pending or, to the best knowledge of the Company,
threatened.

               (d) Neither the Company nor any of its Subsidiaries nor, to the knowledge of the Company, any
director, officer, agent or employee of the Company or any of its Subsidiaries is currently
targeted by any U.S. sanctions administered by the Office of Foreign Assets Control of the U.S.
Treasury Department (“OFAC”); and the Company and its Subsidiaries will not directly or
indirectly use its funds, or lend, contribute or otherwise make available such funds to any
Subsidiary, joint venture partner or other person or entity, for the purpose of financing the
activities of any Person currently targeted by any U.S. sanctions administered by OFAC.

               (e) Other than as set forth in the Private Placement Memorandum, the Company and its
Subsidiaries have all licenses, permits and approvals of any Governmental Authority that are
necessary for the conduct of the business of the Company and its Subsidiaries.

 

17

          4.8 SAFE 75. To the best knowledge of the Company after due inquiry, no overseas investment foreign
exchange registration or filing is required to be made by any legal or beneficial owner of any
Share Equivalents (whether directly or indirectly) with any Governmental Authority according to the
Notice on Issues Relating to the Administration of Foreign Exchange in Fundraising and Return
Investment Activities of Domestic Residents Conducted via Offshore Special Purpose Companies
effective as of November 1, 2005 and any subsequent similar rules, amendments or supplements.

          4.9 PFIC. None of the Company and its Subsidiaries is, or has ever been, a PFIC.

          4.10 Capitalization.

               (a) All of the issued share capital of the Company has been duly and validly authorized and
issued, is fully paid and non-assessable, and all of the issued equity interests of each Subsidiary
of the Company have been duly and validly authorized and issued, are fully paid and non-assessable
and are owned directly or indirectly by the Company, free and clear of all Liens.

               (b) The Purchased Shares to be sold by the Seller to the GA Shareholder and the Apax
Shareholder pursuant to the Share Purchase Agreement have been duly and validly authorized and
issued and are fully paid and non-assessable.

               (c) Immediately following the Closing, there will be no more than 75,078,099 shares of Class A
Ordinary Shares and Class B Ordinary Shares (excluding any shares issued in an IPO primary) of the
Company issued and outstanding and (other than any New Options) no more than 8,251,550 Options
(each having rights with respect to no more than one Class A Ordinary Share) issued and outstanding
(the “Existing Options”) and (other than any New Options) no other Share Equivalents of the
Company will be issued or outstanding and the Company and its Subsidiaries will not have agreed to
issue or sell, or otherwise be obligated to issue or sell, any other shares of Capital Stock or
Share Equivalents.

          4.11 No Default or Breach; Contractual Obligations. Neither the Company nor any of its Subsidiaries is (a) in violation of the M&A, the
Restated M&A or its other organizational documents or (b) in default in the performance or
observance of any Contractual Obligation, except, in the case of this clause (b), a default which
would not, individually or in the aggregate, have a Material Adverse Effect. To the knowledge of
the Company, no other party to any such Contractual Obligations is in default thereunder, except
for such default which would not, individually or in the aggregate, have a Material Adverse Effect.

          4.12 Private Placement Memorandum; Financial Statements.

               (a) The Private Placement Memorandum does not, and as of the Closing Date the Company’s
Registration Statement on Form F-1 (including the

 

18

prospectus included therein) declared effective by the Commission will not, contain any untrue
statement of a material fact or omit to state a material fact required to be stated therein or
necessary in order to make the statements therein, in the light of the circumstances under which
they were made, not misleading. This representation and warranty shall not apply to any statements
or omissions made in reliance upon and in conformity with any written information furnished to the
Company by any underwriter or the selling shareholders.

               (b) (i) The audited consolidated financial statements of the Company and its Subsidiaries
(balance sheet and statements of operations, cash flow and shareholders’ equity, together with the
notes thereto) for the fiscal years ended December 31, 2007, December 31, 2008 and December 31,
2009, which contain the unqualified report of Ernst & Young Hua Ming (the “Audited Financial
Statements”) and (ii) the consolidated financial statements of the Company and its Subsidiaries
(balance sheet and statements of operations, cash flow and shareholders’ equity, together with the
notes thereto) for the six months ended June 30, 2010 reviewed by Ernst & Young Hua Ming (together
with the Audited Financial Statements, the “Financial Statements”), in each case set forth
in the Private Placement Memorandum, are complete and correct in all material respects and have
been prepared in accordance with GAAP applied on a consistent basis throughout the periods
indicated and with each other. The Financial Statements fairly present in all material respects
the financial condition, operating results and cash flows of the Company and its Subsidiaries as of
the respective dates and for the respective periods indicated in accordance with GAAP.

               (c) The Company (individually and on a consolidated basis) and each of its Subsidiaries
maintain a system of internal accounting controls sufficient to provide reasonable assurance that
(i) transactions are executed in accordance with management’s general or specific authorizations;
(ii) transactions are recorded as necessary to permit preparation of financial statements in
conformity with generally accepted accounting principles and to maintain asset accountability;
(iii) access to assets is permitted only in accordance with management’s general or specific
authorization; and (iv) the recorded accountability for assets is compared with the existing assets
at reasonable intervals and appropriate action is taken with respect to any differences.

          4.13 No Material Adverse Change. Neither the Company nor any of its Subsidiaries has sustained since the date of the latest
audited financial statements included in the Private Placement Memorandum any loss or interference
with its business from fire, explosion, flood or other calamity, whether or not covered by
insurance, or from any labor dispute or court or governmental action, order or decree, otherwise
than as set forth in the Private Placement Memorandum, except for such loss or interference as
would not, individually or in the aggregate, have a Material Adverse Effect; and, since the
respective dates as of which information is given in the Private Placement Memorandum, there has
not been any change in the capital stock or long-term debt of the Company or any of its
Subsidiaries or any material adverse change, or any development involving a prospective material
adverse change, in or affecting the general affairs, management, financial position, shareholders’
equity or results of operations of the

 

19

Company and its Subsidiaries taken as a whole, otherwise than as set forth in the Private
Placement Memorandum.

          4.14 Broker’s, Finder’s or Similar Fees. There are no brokerage commissions, finder’s fees, placement fees, or similar fees or
commissions payable in connection with the Transactions based on any agreement, arrangement or
understanding with the Company or any of its Subsidiaries or any action taken by any such Person.

ARTICLE V

REPRESENTATIONS AND WARRANTIES OF THE INVESTORS

          Each Investor hereby represents and warrants, severally and not jointly, to the Company on and
as of the date hereof and the Closing Date as follows:

          5.1 Existence and Power. Such Investor (a) is duly organized and validly existing under the laws of its jurisdiction
of organization and (b) has the requisite power and authority to execute, deliver and perform its
obligations under this Agreement.

          5.2 Authorization; No Contravention. The execution, delivery and performance by such Investor of this Agreement, the
Registration Rights Agreement and the transactions contemplated hereby (a) have been duly
authorized by all necessary action of such Investor, (b) do not contravene the terms of such
Investor’s organizational documents, or any amendment thereto, (c) do not violate, conflict with or
result in any breach or default of (or with due notice or lapse of time or both would result in any
breach, default or contravention of), or the creation of any Lien under, any Contractual Obligation
of such Investor or a Requirement of Law applicable to such Investor, and (d) do not violate any
Orders of any Governmental Authority against, or binding upon, such Investor.

          5.3 Governmental Authorization; Third Party Consents. No Authorization of or with any Governmental Authority or any other Person is required in
connection with the execution, delivery or performance by, or enforcement against, such Investor of
this Agreement, the Registration Rights Agreement or the transactions contemplated this Agreement.

          5.4 Binding Effect. This Agreement and the Registration Rights Agreement have been duly executed and delivered
by such Investor, and this Agreement and the Registration Rights Agreement constitute the legal,
valid and binding obligations of such Investor, enforceable against it in accordance with their
respective terms, except as enforceability may be limited by applicable bankruptcy, insolvency,
reorganization, fraudulent conveyance or transfer, moratorium or similar laws affecting the
enforcement of creditors’ rights generally.

 

20

ARTICLE VI

COVENANTS

          6.1 PFIC Status. The Company shall use its best efforts not to become a PFIC, and to cause its Subsidiaries
not to become a PFIC. In the event the Company or its Subsidiaries becomes a PFIC, the Company
shall immediately notify each Investor in writing of such change in PFIC status. Notwithstanding
the PFIC status of the Company or its Subsidiaries, the Company shall provide assistance and make
available all information as each Investor requests in its sole judgment to comply with provisions
of the Code covering PFICs, including, without limitation, provisions covering elections and
retroactive elections under Section 1295 of the Code. The Company hereby acknowledges that its
obligation pursuant to the immediately preceding sentence may include providing each Investor with
a “PFIC Annual Information Statement” within the meaning of Treas. Reg. § 1.1295-1(g) with respect
to the Company and its Subsidiaries.

          6.2 Banking Relationship. So long as the GA Shareholder or any of its Affiliates is a shareholder of the Company, the
Company shall not, and shall cause its Subsidiaries not to, open or maintain any accounts or
otherwise enter into any customer relationship with First Republic Bank or any of its Subsidiaries.

          6.3 Preemptive Rights.

               (a) In the event that the Company proposes to issue any Additional Securities in a Covered
Transaction, the Company will offer in writing (the “Pre-emptive Notice”) to each Investor,
at least 15 Business Days prior to the consummation of such transaction (“Pre-emptive Notice
Time”), the right to purchase its Pro Rata share of such Additional Securities on the same
terms as such Additional Securities are to be issued (each such right a “Pre-emptive
Right”).

               (b) The Pre-emptive Notice shall specify (i) the number of Additional Securities to be issued
or sold, (ii) the Company’s good faith estimate of the total amount of capital to be raised by the
Company pursuant to the issuance or sale of Additional Securities, (ii) the price and other
material terms of the proposed issuance or sale, (iii) the number of such Additional Securities
which such Investor is entitled to purchase (determined as provided in Section 6.3(a)), and (iv)
the period during which such Investor may elect to purchase such Additional Securities, which
period shall extend for at least 15 days following the receipt by such Investor of the Pre-emptive
Notice (the “Pre-emptive Acceptance Period”). Each Investor who desires to purchase
Additional Securities shall notify the Company within the Preemptive Acceptance Period of the
number of Additional Securities such Investor wishes to purchase, which number shall not exceed its
then-applicable Pro Rata share (the “Pre-emptive Acceptance Notice”). A Preemptive
Acceptance Notice shall be binding and irrevocable, except as set forth in Section 6.3(d). The
purchase price for the Additional Securities shall be paid in cash contemporaneously with the
closing of the transaction which gave rise to the Pre-emptive Notice and the terms of such purchase
shall otherwise be on terms and conditions not less favorable to the Company than those set forth
in the Pre-emptive Notice.

 

21

               (c) The rights contained in this Section 6.3 are personal to the Investors who have such
rights as of the Closing and may not be transferred or assigned or delegated to another Person,
except as otherwise provided herein and each Investor may assign any of its rights under this
Agreement to any of its Affiliates.

               (d) In the event the subject transaction of a Pre-Emptive Notice is terminated, no purchase of
securities shall occur pursuant to this Section 6.3, and the applicable notices shall be cancelled.

          6.4 No Issuance; Outstanding Shares.

               (a) From the date hereof until the Closing, without the prior consent of the Investors, the
Company shall not increase the total number of authorized or issued shares of Capital Stock of the
Company or issue, grant or sell or agree to issue, grant or sell any Share Equivalents, other than
(i) the issuance of ordinary shares of the Company upon the exercise of Company employee options
outstanding on the date of this Agreement, (ii) any New Options and (iii) a primary issuance where
the aggregate proceeds do not exceed US$10,000,000.

               (b) If Section 4.10(c) is not true and correct in all respects immediately following the
Closing, then the Company shall immediately issue additional shares of Class A Ordinary Shares to
each of the Investors for no payment or any other consideration such that each of the Investors
would maintain its ownership percentage in the Company as if there had been, immediately following
the Closing, (x) only 75,078,099 shares of Class A Ordinary Shares and Class B Ordinary Shares
(excluding any shares issued in an IPO primary) of the Company issued and outstanding, (y) except
for any New Options, only 8,251,550 Options issued and outstanding, and (z) no shares of Capital
Stock or other Share Equivalents other than the 75,078,099 shares of Class A Ordinary Shares and
Class B Ordinary Shares (excluding any shares issued in an IPO primary), 8,251,550 Options and the
New Options issued or outstanding, and no agreements or obligations to issue or sell any such
shares of Capital Stock or Share Equivalents.

          6.5 Contemplated IPO. From the date hereof until the Closing, the Company will keep the Investors reasonably
apprised of all developments with respect to the Company’s proposed IPO, including with respect to
communications, satisfaction and waiver of conditions, anticipated timing of closing and all other
matters pertinent to such IPO. The Company agrees that, if it files a Registration Statement on
Form F-1 with the Commission (including a preliminary prospectus), or files any amendment or
supplement thereto or any free writing prospectus (each an “SEC Filing” and collectively
“SEC Filings”), it will notify the Investors as soon as it decides to file any SEC Filing
and provide such SEC Filing to the Investors at the same time such SEC Filing is filed with the
Commission.

          6.6 Acquisition Proposal.

 

22

               (a) The Company agrees that it will, pursuant to a customary confidentiality agreement,
promptly (and, in any event, within forty-eight (48) hours) notify the Investors in writing if any
formal proposals or offers with respect to an Acquisition Proposal are received by it or any of its
directors, officers, employees, investment bankers, attorneys, accountants and other advisors or
representatives (collectively, “Representatives”) and the Company intends to initiate or
continue any discussions or negotiations with respect to such Acquisition Proposal, including, in
connection with such notice, the identity of the Person making the offer or the proposal or seeking
such information or discussions or negotiations, a written summary of the material terms and
conditions of any proposals or offers that are not made in writing and copies of any requests,
proposals or offers, including proposed agreements, of proposals or offers that are made in
writing. The Company shall keep the Investors reasonably informed, on a prompt basis (and, in any
event, within 48 hours), of the status and terms of any proposals or offers (including any
amendments thereto) and the status of any discussions or negotiations. The Company agrees that it
and its Subsidiaries will not enter into any confidentiality agreement with any Person subsequent
to the date hereof which prohibits the Company from providing such information to the Investors.

               (b) The Company shall not enter into any agreement with a third party providing for any
Acquisition Proposal and shall not authorize, adopt, approve, recommend or declare advisable any
Acquisition Proposal or agreement with respect thereto (i) without providing the Investors with the
right and opportunity to make an alternative proposal to the Acquisition Proposal (an “Investor
Proposal”) in a period of at least fifteen (15) Business Days (the “Response Period”)
from the date on which the Investors received the written notice from the Company in accordance
with Section 6.6(a) above and (ii) if an Investor Proposal is a Matching Proposal. Each successive
amendment to any Acquisition Proposal shall constitute a new Acquisition Proposal for the purposes
of this Section 6.6 and the Investors shall be afforded a new Response Period in respect of each
such Acquisition Proposal.

          6.7 Offerees Voting. Until the termination of this Agreement in accordance with Section 8.1, each of the
Offerees agrees as follows:

               (a) At any meeting of shareholders of the Company or at any adjournment thereof or in any
other circumstances upon which the Offerees’ vote, consent or other approval is sought, with
respect to an Acquisition Proposal involving an Affiliate or Immediate Family of Offerees or Mr.
Vincent Tianquan Mo, the Offerees shall not exercise their right to vote (or cause to not be voted)
the Offerees’ Capital Stock. For the avoidance of doubt, this clause (a) shall not prevent any
Offeree from any Disposition of Class B Ordinary Shares owned by such Offeree to its Affiliate if
such Disposition is otherwise permitted under this Agreement.

               (b) Each of the Offerees shall vote (or cause to be voted) such Offeree’s Capital Stock
against any amendment of the M&A or other proposal or transaction involving the Company or any of
its Subsidiaries, which amendment or other proposal or transaction would in any manner change in
any manner the voting rights of any class of the Capital Stock, or nullify, modify, impede,
frustrate or prevent this

 

23

Section 6.7 or any rights of the Investors hereto. Each of the Offerees further agrees not to
commit or agree to take any action inconsistent with the foregoing or any other provision of this
Agreement.

ARTICLE VII

INDEMNIFICATION

          7.1 Indemnification.

               (a) Subject to the limitations set forth in Section 7.4, the Company agrees to indemnify,
defend and hold harmless (i) the GA Shareholder and its Affiliates and their respective officers,
managers, directors, agents, employees, subsidiaries, partners, members and controlling Persons
(each, a “GA Indemnified Party”), and (ii) the Apax Shareholder and its Affiliates and
their respective officers, managers, directors, agents, employees, subsidiaries, partners, members
and controlling Persons (each, an “Apax Indemnified Party” and, together with the GA
Indemnified Parties, the “Indemnified Parties”) to the fullest extent permitted by law from
and against any and all losses, claims, or written threats thereof (including, without limitation,
any claim by a third party), damages, expenses (including reasonable fees, disbursements and other
charges of counsel incurred by the Indemnified Party in any action between the Company and the
Indemnified Party or between the Indemnified Party and any third party or otherwise in the manner
described in Section 7.2 below) or other liabilities (collectively, “Losses”) resulting
from or arising out of any breach of (A) any representations and warranties of the Company
contained herein or (B) any covenant or agreement by the Company in this Agreement or any
certificate delivered by the Company hereunder or under the Share Purchase Agreement.

               (b) In connection with the obligation of the Company to indemnify for expenses as set forth in
clause (a) of this Section 7.1, the Company shall upon presentation of appropriate invoices
containing reasonable detail, reimburse each Indemnified Party for all such expenses (including
reasonable fees, disbursements and other charges of counsel incurred by the Indemnified Party in
any action between the Company and the Indemnified Party or between the Indemnified Party and any
third party) as they are incurred by such Indemnified Party; provided, however,
that if such expenses arise out of any action, investigation or other proceeding commenced by an
Indemnified Party (other than as a result of any action, claim or written threat by a third party
against such Indemnified Party), the Company shall reimburse such Indemnified Party for all such
expenses only (x) after the final resolution or disposition of such action, investigation or other
proceeding and (y) if such Indemnified Party prevails in such action, investigation or other
proceeding; and provided, further, that if an Indemnified Party is reimbursed under
this Article VII for any expenses, such reimbursement of expenses shall be refunded to the extent
it is finally judicially determined that such expenses resulted or arose primarily from the gross
negligence, bad faith, or willful misconduct of such Indemnified Party.

 

24

          7.2 Notification. Each Indemnified Party under this Article VII shall, promptly after the receipt of notice
of the commencement of any claim against such Indemnified Party in respect of which indemnity may
be sought from the Company under this Article VII, notify the Company in writing of the
commencement thereof. The omission of any Indemnified Party to so notify the Company of any such
action shall not relieve the Company from any liability which it may have to such Indemnified Party
under this Article VII unless, and only to the extent that, such omission results in the Company’s
forfeiture of substantive rights or defenses, or otherwise materially prejudices the Company’s
defense of such claim. In case any such claim shall be brought against any Indemnified Party, and
it shall notify the Company of the commencement thereof, the Company shall be entitled to assume
the defense thereof at its own expense, with counsel satisfactory to such Indemnified Party in its
reasonable judgment; provided that any Indemnified Party may, at its own expense, retain
separate counsel to participate in such defense. Notwithstanding the foregoing, in any claim in
which both the Company, on the one hand, and an Indemnified Party, on the other hand, are, or are
reasonably likely to become, a party, such Indemnified Party shall have the right to employ
separate counsel and to control its own defense of such claim if, in the reasonable opinion of
counsel to such Indemnified Party, either (x) one or more defenses are available to the Indemnified
Party that are not available to the Company or (y) a conflict or potential conflict exists between
the Company, on the one hand, and such Indemnified Party, on the other hand, that would make such
separate representation advisable; provided, however, that (i) the Company shall
not be liable for the fees and expenses of more than one counsel in each relevant jurisdiction to
all Indemnified Parties, (ii) in any action between the Company and the Indemnified Parties, the
Company shall reimburse the Indemnified Parties for such fees and expenses only (x) after the final
resolution or disposition of such action and (y) if the Indemnified Party prevails in such action
and (iii) in any action between the Indemnified Parties and any third party, the Company shall
reimburse the Indemnified Parties for such fees and expenses as such fees and expenses are
incurred. The Company agrees that it will not, (a) without the prior written consent of the GA
Shareholder, settle, compromise or consent to the entry of any judgment in any pending or
threatened claim relating to the matters contemplated hereby (if any GA Indemnified Party is a
party thereto or has been actually threatened to be made a party thereto) unless such settlement,
compromise or consent includes an unconditional release of each GA Indemnified Party from all
liability arising or that may arise out of such claim, or (b) without the prior written consent of
the Apax Shareholder, settle, compromise or consent to the entry of any judgment in any pending or
threatened claim relating to the matters contemplated hereby (if any Apax Indemnified Party is a
party thereto or has been actually threatened to be made a party thereto) unless such settlement,
compromise or consent includes an unconditional release of each Apax Indemnified Party from all
liability arising or that may arise out of such claim. The Company shall not be liable for any
settlement of any claim effected against an Indemnified Party without its written consent, which
consent shall not be unreasonably withheld.

          7.3 Contribution. If the indemnification provided for in this Article VII from the Company is unavailable to
an Indemnified Party hereunder in respect of any Losses for which the Company would otherwise be
required to indemnify the

 

25

Indemnified Party under this Article VII, then the Company, in lieu of indemnifying such
Indemnified Party, shall contribute to the amount paid or payable by such Indemnified Party as a
result of such Losses in such proportion as is appropriate to reflect the relative fault of the
Company and such Indemnified Party in connection with the actions which resulted in such Losses, as
well as any other relevant equitable considerations. The relative faults of the Company and such
Indemnified Party shall be determined by reference to, among other things, whether any action in
question, including any untrue or alleged untrue statement of a material fact or omission or
alleged omission to state a material fact, has been made by, or relates to information supplied by,
the Company or such Indemnified Party, and the parties’ relative intent, knowledge, access to
information and opportunity to correct or prevent such action. The amount paid or payable by a
party as a result of the Losses referred to above shall be deemed to include any legal or other
fees, charges or expenses reasonably incurred by such party in connection with any investigation or
proceeding.

          7.4 Limits on Indemnification.

               (a) Absent fraud or willful or intentional misconduct, the indemnification and contribution
provided by the Company pursuant to clause (A) of Section 7.1(a) and Section 7.3 shall be the sole
and exclusive remedy for any Losses resulting from or arising out of any indemnification or
contribution claim made pursuant to clause (A) of Section 7.1(a) and Section 7.3.

               (b) Absent fraud or willful or intentional misconduct, the amount of any payment by the
Company (i) to the GA Indemnified Parties under this Article VII in respect of Losses resulting
from or arising out of any indemnification or contribution claim made pursuant to Section 7.1(a) or
Section 7.3 with respect thereto shall in no event exceed US$20,000,000, and (ii) to the Apax
Indemnified Parties under this Article VII in respect of Losses resulting from or arising out of
any indemnification or contribution claim made pursuant to Section 7.1(a) or Section 7.3 with
respect thereto shall in no event exceed US$20,000,000; provided, however, in the
event of fraud or willful or intentional misconduct, such amount of payment shall in no event
exceed (1) with respect to the GA Indemnified Parties, the aggregate purchase price paid by the GA
Shareholder to the Seller in consideration of the Purchased Shares acquired by the GA Shareholder,
and (2) with respect to the Apax Indemnified Parties, the aggregate purchase price paid by the Apax
Shareholder to the Seller in consideration of the Purchased Shares acquired by the Apax
Shareholder.

               (c) The Company shall not be liable to pay the Indemnified Parties under this Article VII in
respect of Losses resulting from or arising out of any indemnification or contribution claim made
pursuant to Section 7.1(a) or Section 7.3 with respect thereto unless and until the amount payable
under each individual claim made against the Company exceeds US$500,000 (the “Indemnity
Threshold”). If and when the Indemnity Threshold is reached, the Company shall then only be
liable for the excess over the Indemnity Threshold.

 

26

ARTICLE VIII

TERMINATION OF AGREEMENT

     8.1 Termination. This Agreement may be terminated as follows:

          (a) with respect to the rights and obligations of the GA Shareholder, by mutual written
consent of the Company and the GA Shareholder;

          (b) with respect to the rights and obligations of the Apax Shareholder, by mutual written
consent of the Company and the Apax Shareholder; or

          (c) automatically upon the termination of the Share Purchase Agreement prior to the Closing
Date for any reason.

     If this Agreement so terminates, it shall become null and void and have no further force or
effect, except as provided in Section 8.2.

     8.2 Survival. If this Agreement is terminated and the Transactions are not consummated as described
above, (a) this Agreement shall become void and of no further force and effect; except for the
provisions of this Section 8.2, (b) none of the parties hereto shall have any liability in respect
of a termination of this Agreement pursuant to Section 8.1(a) or Section 8.1(b), and (c) none of
the parties hereto shall have any liability for speculative, indirect, unforeseeable or
consequential damages or lost profits resulting from any legal action relating to any termination
of this Agreement.

ARTICLE IX

MISCELLANEOUS

     9.1 Survival of Representations and Warranties. The representations and warranties of the Company shall survive the execution and delivery
of this Agreement until the date that is thirty (30) days after the public disclosure with the
Commission of the audited consolidated financial statements of the Company and its Subsidiaries for
the fiscal year ending December 31, 2010 (or, if such fiscal year changes and no such audited
consolidated financial statements are available, then the successor fiscal year), except for the
representations and warranties in Section 4.10, which shall survive until the first anniversary of
the Closing Date.

     9.2 Notices. All notices, demands and other communications provided for or permitted hereunder shall be
made in writing and shall be by registered or certified first-class mail, return receipt requested,
facsimile, courier service or personal delivery:

 

27

if to the Company:

SouFun Holdings Limited

8th Floor, Tower 3, Xihuan Plaza

No.1 Xizhimenwai Avenue

Xicheng District, Beijing 100044

People’s Republic of China

Facsimile: (8610) 5930 6137

Attention: Jill Jiao, Chief Counsel and Investor Relations Officer

if to Media Partner or Next Decade:

c/o SouFun Holdings Limited

8th Floor, Tower 3, Xihuan Plaza

No.1 Xizhimenwai Avenue

Xicheng District, Beijing 100044

People’s Republic of China

Facsimile: (8610) 5930 6137

Attention: Vincent Tianquan Mo

if to Digital Link:

c/o Shan Li

Suite 6401, Two IFC

8 Finance Street, Central

Hong Kong

Facsimile: (+852) 3527-7001

if to the GA Shareholder:

General Atlantic Mauritius Limited

6th Floor, Tower A

1 CyberCity

Ebene, Mauritius

Facsimile: (230) 403-6060

Attention: The Directors

with a copy to:

Paul, Weiss, Rifkind, Wharton & Garrison

12th Floor, The Hong Kong Club Building

3A Chater Road, Central

Hong Kong

Facsimile: (852) 2840-4300

Attention: Jeanette K. Chan, Esq.

 

28

if to the Apax Shareholder:

Hunt 7-A Guernsey L.P. Inc

Hunt 7-B Guernsey L.P. Inc

Hunt 6-A Guernsey L.P. Inc

Third Floor, Royal Bank Place

1 Glategny Esplanade

St Peter Port

Guernsey GY1 2HJ

Facsimile: +44 (0) 1481 810 099

Attention: Denise Fallaize

with a copy to:

Simpson Thacher & Bartlett LLP

3119 China World Office I

1 Jianguomenwai Avenue

Beijing 100004, China

Facsimile: (+8610) 5965 2988

Attention: Douglas C. Markel, Esq.

     All such notices, demands and other communications shall be deemed to have been duly given (i)
when delivered by hand, if personally delivered; (ii) one Business Day after being sent, if sent
via a reputable nationwide overnight courier service guaranteeing next business day delivery; (iii)
five (5) Business Days after being sent, if sent by registered or certified mail, return receipt
requested, postage prepaid; and (iv) when receipt is mechanically acknowledged, if sent by
facsimile. Any party may by notice given in accordance with this Section 9.2 designate another
address or Person for receipt of notices hereunder. Any party may give any notice, request,
consent or other communication under this Agreement using any other means (including, without
limitation, personal delivery, messenger service, first class mail or electronic mail), but no such
notice, request, consent or other communication shall be deemed to have been duly given unless and
until it is actually received by the party to whom it is given.

     9.3 Successors and Assigns; Third Party Beneficiaries. This Agreement shall inure to the benefit of and be binding upon the successors and
permitted assigns of the parties hereto. Each of the Investors and the Offerees may assign any of
its rights under this Agreement to any of their respective Affiliates without the prior written
consent of the other parties, and any such transferee shall, concurrently with the effectiveness of
such transfer, become a party to this Agreement as an Offeree or an Investor, as the case may be,
and be subject to all applicable restrictions and benefit from all applicable rights set forth in
this Agreement. In the event that any Offeree transfers any Capital Stock of the Company to Mr.
Vincent Tianquan Mo or an Affiliate or Immediate Family of Mr. Vincent Tianquan Mo, any such
transferee shall, concurrently with the effectiveness of such transfer, become a party to this
Agreement as an Offeree, and be subject to all applicable restrictions and benefit from all
applicable rights set forth in this Agreement. The Company may only assign any of its rights under
this Agreement

 

29

with the prior written consent of the Investors. Except as provided in Article IV, Article
VII, Article VIII and Section 9.4(b), no Person other than the parties hereto and their successors
and permitted assigns is intended to be a beneficiary of this Agreement. Other than set forth in
this Section 9.3, this Agreement and the rights and obligations of any party hereunder shall not be
assigned without the prior written consent of the other parties.

     9.4 Amendment and Waiver.

          (a) No failure or delay on the part of the Company, any Offeree or any Investor in exercising
any right, power or remedy hereunder shall operate as a waiver thereof, nor shall any single or
partial exercise of any such right, power or remedy preclude any other or further exercise thereof
or the exercise of any other right, power or remedy.

          (b) Any amendment, supplement or modification of or to any provision of this Agreement, any
waiver of any provision of this Agreement, and any consent to any departure by, the Company, any
Offeree or any Investor from the terms of any provision of this Agreement, shall be effective (i)
only if it is made or given in writing and signed by the Company, the Offerees and the Investors,
and (ii) only in the specific instance and for the specific purpose for which made or given.
Except where notice is specifically required by this Agreement, no notice to or demand on the
Company in any case shall entitle the Company to any other or further notice or demand in similar
or other circumstances.

     9.5 Counterparts. This Agreement may be executed in any number of counterparts and by the parties hereto in
separate counterparts, each of which when so executed shall be deemed to be an original and all of
which taken together shall constitute one and the same agreement.

     9.6 Headings. The headings in this Agreement are for convenience of reference only and shall not limit or
otherwise affect the meaning hereof.

     9.7 Governing Law. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE
OF NEW YORK WITHOUT REGARD TO THE PRINCIPLES OF CONFLICTS OF LAW THEREOF. The parties hereto
irrevocably submit to the exclusive jurisdiction of any state or federal court sitting in the
County of New York, in the State of New York over any suit, action or proceeding arising out of or
relating to this Agreement or the affairs of the Company. To the fullest extent they may
effectively do so under applicable law, the parties hereto irrevocably waive and agree not to
assert, by way of motion, as a defense or otherwise, any claim that they are not subject to the
jurisdiction of any such court, any objection that they may now or hereafter have to the laying of
the venue of any such suit, action or proceeding brought in any such court and any claim that any
such suit, action or proceeding brought in any such court has been brought in an inconvenient
forum.

 

30

     9.8 Waiver of Jury Trial. EACH OF THE PARTIES HERETO HEREBY WAIVES TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW
ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY WITH RESPECT TO ANY LITIGATION DIRECTLY OR INDIRECTLY
ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED BY THIS
AGREEMENT. EACH OF THE PARTIES HERETO HEREBY (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR
ATTORNEY OF THE OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD
NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT
HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT AND THE TRANSACTIONS CONTEMPLATED BY THIS AGREEMENT,
AS APPLICABLE, BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 9.8.

     9.9 Severability. If any one or more of the provisions contained herein, or the application thereof in any
circumstance, is held invalid, illegal or unenforceable in any respect for any reason, the
validity, legality and enforceability of any such provision in every other respect and of the
remaining provisions hereof shall not be in any way impaired, unless the provisions held invalid,
illegal or unenforceable shall substantially impair the benefits of the remaining provisions
hereof.

     9.10 Rules of Construction. Unless the context otherwise requires, references to sections or subsections refer to
sections or subsections of this Agreement.

     9.11 Entire Agreement. This Agreement, together with the exhibits and schedules hereto are intended by the parties
as a final expression of their agreement and intended to be a complete and exclusive statement of
the agreement and understanding of the parties hereto in respect of the subject matter contained
herein. There are no restrictions, promises, representations, warranties or undertakings, other
than those set forth or referred to herein. This Agreement, together with the exhibits and
schedules hereto supersedes all prior agreements and understandings between the parties with
respect to such subject matter.

     9.12 Public Announcements. Following the date hereof, the Company shall be permitted to issue a press release in
compliance with Rule 135 under the Securities Act and file the Private Placement Memorandum with
disclosure relating to this Agreement and the transactions contemplated hereby and to file this
Agreement with the Private Placement Memorandum or a subsequent amendment. Each Investor shall
have the opportunity to review and comment on the press release prior to its issuance and to review
and comment on any portion of the Private Placement Memorandum or any amendment thereto that
describes the transactions hereunder or such Investor, which review and comment shall be provided
as expeditiously as possible and in any event within 24 hours of delivery. Any such press release
shall be in form and substance reasonably satisfactory to the Investors. Except as set forth in
the previous sentence, none of the Company, the Offerees and the Investors will issue any press
release or make

 

31

any public statements with respect to this Agreement or the transactions contemplated hereby
without the prior written consent of the other party hereto, except to the extent such party
reasonably believes such press release or public statement is required by applicable law or stock
market regulations; provided, however that the Company and the Investors may make
reasonable public statements consistent with prior public statements otherwise permitted under this
Section 9.12; and provided, further, that following the Closing, (i) General
Atlantic LLC may disclose on its worldwide web page, www.generalatlantic.com, the name of
the Company, the name of the Chief Executive Officer of the Company, a brief description of the
business of the Company and the Company’s logo, and (ii) the Apax Purchaser (or an Affiliate
thereof) may disclose on the worldwide web page, www.apax.com, the name of the Company, the
name of the Chief Executive Officer of the Company, a brief description of the business of the
Company and the Company’s logo. Notwithstanding the foregoing, the Company and the Offerees will
not use or refer to the name of any Investor in any public statement or disclosure without the
consent of such Investor except to the extent that such party reasonably believes such statement or
disclosure is required by applicable law or stock market regulations.

     9.13 Further Assurances. Each of the parties shall execute such documents and perform such further acts (including,
without limitation, obtaining any consents, exemptions, authorizations or other actions by, or
giving any notices to, or making any filings with, any Governmental Authority or any other Person)
as may be reasonably required or desirable to carry out or to perform the provisions of this
Agreement.

     9.14 Representations, Warranties and Covenants.

          (a) The GA Shareholder makes no representation or warranty concerning the Apax Shareholder
under this Agreement and the GA Shareholder and its Affiliates shall not be liable for any breach
of this Agreement by the Apax Shareholder.

          (b) The Apax Shareholder makes no representation or warranty concerning the GA Shareholder
under this Agreement and the Apax Shareholder and its Affiliates shall not be liable for any breach
of this Agreement by the GA Shareholder.

     9.15 Specific Performance. Notwithstanding anything to the contrary contained herein, the parties hereto agree and
acknowledge that money damages would not be an adequate remedy for any breach of the provisions of
this Agreement and that, in addition to any other rights and remedies existing in its favor, any
party shall be entitled to specific performance and/or other injunctive relief from any court of
law or equity of competent jurisdiction (without posting any bond or other security) in order to
enforce or prevent violation of the provisions of this Agreement.

     9.16 New Shareholders’ Agreement and New Articles.

          (a) Following the occurrence of the IPO Termination Date pursuant to Section 2.5 of
the Share Purchase Agreement, the Company and the Offerees

 

32

shall, and shall cause the other parties thereto to, terminate the existing shareholders’
agreement of the Company (the “Existing Shareholders’ Agreement”) dated as of August 31,
2006, on or prior to the Closing Date of the Alternative Transaction (the “Alternative
Transaction Closing Date”). In addition, the Company and the Offerees shall, and shall cause
the other shareholders of the Company (other than the Seller) to enter into a new shareholders’
agreement (the “New Shareholders’ Agreement”) with the Investors based on the terms
outlined in Exhibit A attached hereto on or prior to the Alternative Transaction Closing
Date whereupon this Investor’s Rights Agreement will terminate. All the parties hereto agree to,
and the Company agrees to cause all of its shareholders (other than the Seller) to, work in good
faith towards full documentation of the New Shareholders’ Agreement as promptly as reasonably
practicable after the IPO Termination Date (but in any event such full documentation shall be
completed within fifteen (15) Business Days from the IPO Termination Date). The New Shareholders
Agreement will include provisions that are substantially consistent with and at least as favorable
to the Investors as those identified in Exhibit A, the Existing Shareholders Agreement,
this Agreement and the Registration Rights Agreement. With respect to the provisions of the New
Shareholders’ Agreement, each of the Investors shall benefit from the rights and protections
specifically identified in Exhibit A or as were previously held by the Seller on a separate
and individual basis. If there is disagreement over the wording of a particular aspect of the New
Shareholders’ Agreement, the parties agree that the term sheet set forth in Exhibit A and
the wording in the Existing Shareholders’ Agreement will be the basis of the binding New
Shareholders’ Agreement.

          (b) Following the occurrence of the IPO Termination Date pursuant to Section 2.5 of
the Share Purchase Agreement, the Company and the Offerees shall, and shall cause the other
shareholders of the Company to, (i) amend and restate the existing memorandum and articles of
association of the Company to (x) remove all references to the Existing Shareholders’ Agreement and
replace them with references to the New Shareholders’ Agreement and (y) adopt the dual class voting
structure and other terms agreed by the parties as set forth in the New Shareholders’ Agreement,
and (ii) adopt the amended and restated memorandum and articles of association of the Company
referred to in (i) above on or before the Alternative Transaction Closing Date.

[Remainder of page intentionally left blank]

 

 

     IN WITNESS WHEREOF, the undersigned have executed, or have caused to be executed, this
Investor’s Rights Agreement on the date first written above.

	 	 	 	 	 
	 	SOUFUN HOLDINGS LIMITED

 	 
	 	By:  	/s/ Vincent Tianquan Mo	 
	 	 	Name:  	Vincent Tianquan Mo 	 
	 	 	Title:  	Executive Director 	 
	 

					
	 
	 	Signature Page
	 	Investor’s Rights Agreement

 

 

	 	 	 	 	 
	 	GENERAL ATLANTIC MAURITIUS LIMITED

 	 
	 	By:  	/s/ Amit Gupta	 
	 	 	Name:  	Amit Gupta 	 
	 	 	Title:  	Director 	 
	 

					
	 
	 	Signature Page
	 	Investor’s Rights Agreement

 

 

	 	 	 	 	 
	 	SIGNED BY HUNT 7-A GP LIMITED 

as general partner of

HUNT 7-A GUERNSEY L.P. INC

 	 
	 	By:  	/s/ David Critchlow	 
	 	Name:  	David Critchlow 	 
	 	Title:  	Director 	 
	 

	 	 	 	 	 
	 	SIGNED BY HUNT 7-A GP LIMITED 

as general partner of

HUNT 7-B GUERNSEY L.P. INC

 	 
	 	By:  	/s/ David Critchlow	 
	 	Name:  	David Critchlow 	 
	 	Title:  	Director 	 
	 
	 	SIGNED BY HUNT 6-A GP LIMITED

as general partner of

HUNT 6-A GUERNSEY L.P. INC

 	 
	 	By:   	/s/ David Critchlow	 
	 	Name: 	David Critchlow 	 
	 	Title:  	 Director 	 
	 

					
	 
	 	Signature Page
	 	Investor’s Rights Agreement

 

 

	 	 	 	 	 
	 	NEXT DECADE INVESTMENTS LIMITED

 	 
	 	By:  	/s/ Jing Cao	 
	 	 	Name:  	Jing Cao 	 
	 	 	Title:  	Director 	 
	 
	 	MEDIA PARTNER TECHNOLOGY LIMITED

 	 
	 	By:  	/s/ Jing Cao	 
	 	 	Name:  	Jing Cao 	 
	 	 	Title:  	Director 	 
	 

					
	 
	 	Signature Page
	 	Investor’s Rights Agreement

 

 

	 	 	 	 	 
	 	DIGITAL LINK INVESTMENTS LIMITED

 	 
	 	By:  	/s/ Shan Li	 
	 	 	Name:  	Shan Li 	 
	 	 	Title:  	Director 	 
	 

					
	 
	 	Signature Page
	 	Investor’s Rights Agreement

 

 

Schedule 1

List of Current Competitors

1. E-house (China) Holdings Limited and its Affiliates.

2. China Real Estate Information Corporation and its Affiliates.

3. Sina Corporation and its Affiliates.

 

 

Exhibit A

Terms of New Shareholders’ Agreement

	 	 	 

	Voting Rights:

	 	B Shares owned by Vincent Mo (the “Founder”) will have 10 votes per
share and A Shares owned by the Investors will have 1 vote per share.
	 
	 	 
	Major Actions:

	 	The prior written consent of each of the Investors shall be required for
the following:

	 	(a)	 	the redemption of share capital or securities convertible into or
exercisable for share capital of the Company or its subsidiaries;
	 
	 	(b)	 	the adoption of any stock option plan or similar equity compensation
scheme for employees or directors of the Company or its subsidiaries and
the allocation of options thereunder, or any amendment of the existing
employee stock option plan of the Company;
	 
	 	(c)	 	any amendment to or restatement of the Memorandum and Articles of
Association or by-laws of the Company or any of its material
subsidiaries (including, without limitation, Bravo Work Investments
Limited, Max Impact Investments Limited, SouFun Media Technology
(Beijing) Co., Ltd., Beijing SouFun Network Technology Co., Ltd.,
Beijing SouFun Science and Technology Development Co., Ltd., Shanghai
SouFun Advertising Co., Ltd. and Beijing Century Jia Tian Xia Technology
Development Co., Ltd.); provided that with respect to any material
subsidiaries that are within the PRC, the Investors’ prior written
consent is required for any amendment to or restatement of the Articles
of Association of such subsidiaries;
	 
	 	(d)	 	an IPO, unless the Company equity valuation is at least US$1 billion
and the Company’s ordinary shares are listed on The Nasdaq Stock Market,
The New York Stock Exchange or other internationally recognized stock
exchange;
	 
	 	(e)	 	any sale of a majority of the voting power or a majority of the
economic interests in the Company, or a sale of all or substantially all
of the assets of the Company, in each case at a valuation lower than the
fair market value;
	 
	 	(f)	 	the declaration or payment of any dividend or other distribution by
the Company or any of its subsidiaries;
	 
	 	(g)	 	the assumption, incurrence or guarantee of any indebtedness by the
Company or any of its subsidiaries in excess of US$10 million in
aggregate during the trailing 12 months;
	 
	 	(h)	 	any acquisition by the Company or any of its subsidiaries in which
the aggregate consideration is in excess of US$10 million, either
individually or in the aggregate when added to all other acquisitions
during the trailing 12 months;

 

3

	 	(i)	 	any transaction between the Company or any of its subsidiaries, on
the one hand, and any officer, director or shareholder (or affiliate or
family member) of the Company or any of its subsidiaries, on the other
hand;
	 
	 	(j)	 	compensation of or payments to the Chairman of the Board of
Directors;
	 
	 	(k)	 	approval of the Company’s annual operating budget;
	 
	 	(l)	 	the appointment of a new CEO or CFO of the company;
	 
	 	(m)	 	a material change in the nature, scope or geography of the business;
	 
	 	(n)	 	any change the material accounting methods or policies of the
Company, any change in the Company’s auditor; or
	 
	 	(o)	 	any change the size of the Board of Directors.

	 	 	 

	Board of Directors:

	 	Five members, comprised of the following:

	 	(i)	 	one member designated by the GA Shareholder
	 
	 	(ii)	 	one member designated by the Apax Shareholder
	 
	 	(iii)	 	three members designated by Vincent Mo

	 	 	 

	 

	 	Vincent Mo will be the Chairman of the Board. There will be an Audit,
Compensation and Nominations Committee. The GA director will have the
right to serve on the Compensation and Nominations Committee and the
Apax director shall have the right to serve on the Audit Committee,
provided that the GA Shareholder and the Apax Shareholder may agree to
reallocate committee assignments. Each of the GA Shareholder and the
Apax Shareholder shall have the right to designate one observer.
	 
	 	 
	Shareholder Matters:

	 	(a)     Transfer Restrictions. Until the second anniversary of the closing,
no shareholder may transfer its shares (other than transfers to family
members and affiliated funds).

	 
	 	 
	 

	 	(b)     Right of First Offer. Prior to the Company’s initial public
offering, share transfers will be subject to a right of first offer as
follows: first, the Company, and second, the non-selling shareholders
on a pro rata basis.

	 
	 	 
	 

	 	(c)     Preemptive Rights. Prior to the Company’s initial public offering,
new issues of share capital or securities convertible into or
exercisable for share capital will be subject to a preemptive right of
the Investors to purchase their pro rata share of the offering and up to
the amount of other shareholders’ applicable share of the offering not
subscribed for by such other shareholders.

 

4

	 	(d)	 	Initial Public Offering. If the Company has not completed a firm
commitment initial public offering on or prior to the second anniversary
of closing, then at any time thereafter each of the Founder, the GA
Shareholder and the Apax Shareholder may require the Company to complete
its initial public offering on the New York Stock Exchange, Nasdaq, the
Hong Kong Stock Exchange or another reputable international stock
exchange. The Registrations Rights Agreement and the Investor Rights
Agreement Articles II, III, VI, VII, and IX shall become effective upon
completion of an IPO.
	 
	 	(e)	 	Co-Sale Rights. Prior to the Company’s initial public offering, the
GA Shareholder and the Apax Shareholder will have the right to
participate pro rata in any sales of stock to third parties by Vincent
Mo and his affiliates. If Vincent Mo and his affiliates wish to
transfer 25% or more of their shares to a third party, then the GA
Shareholder and the Apax Shareholder will have the right to sell their
entire stake to such third party.
	 
	 	(f)	 	Other. (i) The company will provide annual, quarterly and monthly
financial statements. (ii) The following provisions from the existing
shareholders agreement will be included in the new shareholders
agreement with appropriate modifications: Section 4 (Business Plan and
Financial Information), Section 10 (Rights in relation to License
Companies) (the parties agree that, for purpose of this Section 10, the
License Companies Interest shall only be transferred to the Company or
its nominee and not to any Investor or Investor’s nominee), Section 11
(Employee Compensation Plan), Section 12 (Enforcement of Rights),
Section 14 (Competition with the Business), Section 15 (information,
Insurance, Records, Licenses) and Section 26 (Founder Undertakings).
(iii) The Company will provide warranties and indemnification identical
to Articles IV and VII of the Investor Rights Agreement. (iv) The
company will provide covenants equal to Article VI of the Investor
Rights Agreement.
	 
	 	(g)	 	Call Options. Notwithstanding anything else to the contrary, the
transfer of Class A Ordinary Shares from the Investors to Next Decade
Investments Limited upon its exercise of the call options shall not be
subject to the transfer restrictions set forth in sections (a) and (b)
above.

	 	 	 

	Governing Law;
Dispute Resolution:

	 	New York state law; state or federal court sitting in the County of New
York, in the State of New York.EX-4.8

Exhibit 4.8

EXECUTION VERSION

 

REGISTRATION RIGHTS AGREEMENT

among

SOUFUN HOLDINGS LIMITED

and

THE OTHER PARTIES NAMED HEREIN

 

Dated: August 13, 2010

 

 

 

 

TABLE OF CONTENTS

	 	 	 	 	 
	 	 	Page
	1. Definitions

	 	 	1	 
	2. Grant of Rights

	 	 	6	 
	3. Demand Registration

	 	 	6	 
	4. Incidental or “Piggy-Back” Registration

	 	 	9	 
	5. Form F-3 Registration

	 	 	10	 
	6. Holdback Agreement

	 	 	14	 
	7. Registration Procedures

	 	 	14	 
	8. Indemnification; Contribution

	 	 	20	 
	9. Additional Covenants

	 	 	23	 
	10. Non-U.S. Listings

	 	 	23	 
	11. Miscellaneous

	 	 	24	 

i

 

REGISTRATION RIGHTS AGREEMENT

     REGISTRATION RIGHTS AGREEMENT, dated August 13, 2010 and effective as of the Effective Date
(this “Agreement”), among SouFun Holdings Limited, a company organized and existing under
the laws of the Cayman Islands (the “Company”), General Atlantic Mauritius Limited, a
Mauritius private company limited by shares (“General Atlantic”) and Hunt 7-A Guernsey L.P.
Inc. (“Hunt 7-A”), Hunt 7-B Guernsey L.P. Inc. (“Hunt 7-B”), and Hunt 6-A Guernsey
L.P. Inc. (“Hunt 6-A” and, together with Hunt 7-A and Hunt 7-B, “Apax”).

     WHEREAS, pursuant to the Share Purchase Agreement, dated the date hereof (the “Purchase
Agreement”), by and among Telstra International Holdings Limited, a company organized and
existing under the laws of Bermuda (“Telstra”), General Atlantic, Apax, Next Decade
Investments Ltd., a limited liability company incorporated in the British Virgin Islands (the
“Management Holder”), and Digital Link Investments Limited, a limited liability company
incorporated in the British Virgin Islands (the “Digital Link Holder”), Telstra has agreed
to sell certain shares of the Company to General Atlantic, Apax, Management Holder and Digital Link
Holder; and;

     WHEREAS, in order to induce each of General Atlantic and Apax to purchase the Class A Ordinary
Shares pursuant to the Purchase Agreement from Telstra, the Company has agreed to grant each of
General Atlantic and Apax the registration rights set forth in this Agreement.

     NOW, THEREFORE, in consideration of the mutual covenants and agreements set forth herein and
for good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the
parties hereto agree as follows:

     1. Definitions. As used in this Agreement, and unless the context requires a different meaning, the
following terms have the meanings indicated:

     “ADSs” means American Depositary Shares, each of which will represent Class A Ordinary
Shares.

     “Affiliate” means, with respect to any Person, any other Person that directly, or
indirectly through one or more intermediaries, Controls, is Controlled by or is under common
Control with, the Person specified.

     “Agreement” has the meaning set forth in the preamble to this Agreement.

     “Apax” has the meaning set forth in the preamble to this Agreement.

     “Apax Representative” means the Apax Shareholder appointed and notified to the Company
from time to time by the Apax Shareholders holding a majority
of the Registrable Securities held by all Apax Shareholders to act on behalf of the Apax
Shareholders under this Agreement. The initial Apax Representative shall be Hunt 7-B.

 

 

     “Apax Shareholders” means Hunt 7-A, Hunt 7-B, and Hunt 6-A, any Subsequent Purchaser
that is an Affiliate of Apax, and any Affiliate thereof to whom Registrable Securities are
transferred, subject to Section 11(f) of this Agreement other than a transferee to whom Registrable
Securities have been transferred pursuant to a Registration Statement under the Securities Act or
Rule 144 or Regulation S under the Securities Act (or any successor rule thereto).

     “Approved Underwriter” has the meaning set forth in Section 3(e) of this Agreement.

     “Articles” means the Amended and Restated Memorandum and Articles of Association of
the Company as in effect on the IPO Effectiveness Date, as the same may be amended from time to
time.

     “Automatic Shelf Registration Statement” means an “automatic shelf registration
statement” as defined in Rule 405 promulgated under the Securities Act.

     “Board of Directors” means the Board of Directors of the Company.

     “Business Day” means any day other than a Saturday, Sunday or other day on which
commercial banks in the State of New York, Hong Kong or the People’s Republic of China are
authorized or required by law or executive order to close.

     “Class A Ordinary Share Equivalent” means any security or obligation that is by its
terms, directly or indirectly, convertible, exchangeable or exercisable into or for Class A
Ordinary Shares, including, without limitation, any option, warrant or other subscription or
purchase right with respect to Class A Ordinary Shares or any Class A Ordinary Share Equivalent.

     “Class A Ordinary Shares” means the Class A Ordinary Shares, par value HK$1.00 per
share, of the Company or any other share capital of the Company into which such stock is
reclassified or reconstituted and any other ordinary shares of the Company.

     “Closing Price” means, with respect to the Registrable Securities, as of the date of
determination: (a) if the Registrable Securities are listed on a national securities exchange in
the United States, the closing price per share of a Registrable Security on such date published on
Bloomberg or, if no such closing price on such date is published on Bloomberg, the
average of the closing bid and asked prices on such date, as officially reported on the principal
national securities exchange in the United States on which the Registrable Securities are then
listed or admitted to trading; or (b) if the Registrable Securities are not listed or admitted to
trading on any national securities exchange, the last sale price or, if such last sale price is not
reported, the average of the high bid and low asked prices in the over-the-counter market, as
reported by The Nasdaq Stock Market
LLC or such other system then in use; or (c) if on any such date the Registrable Securities
are not quoted by any such organization, the average of the closing bid and asked prices as
furnished by a professional market maker making a market in the Registrable

2

 

Securities selected by
the Company; or (d) if none of (a), (b) or (c) is applicable, a market price per share determined
in good faith by the Board of Directors or, if such determination is not satisfactory to the
Designated Holder for whom such determination is being made, by a nationally-recognized investment
banking firm selected by the Company and such Designated Holder, the expenses for which shall be
borne equally by the Company and such Designated Holder. If trading is conducted on a continuous
basis on any exchange, then the closing price shall be at 4:00 p.m. New York City time.

     “Commission” means the United States Securities and Exchange Commission or any similar
agency then having jurisdiction to enforce the Securities Act.

     “Company” has the meaning set forth in the preamble to this Agreement.

     “Company Underwriter” has the meaning set forth in Section 4(a) of this Agreement.

     “Control” (including the terms “Controlling,” “Controlled by” and
“under common Control with”) means the possession, directly or indirectly, of the power to
direct or cause the direction of the management and policies of a Person, whether through the
ownership of voting securities, by contract or otherwise.

     “Demand Registration” has the meaning set forth in Section 3(a) of this Agreement.

     “Designated Holder” means each of the General Atlantic Shareholders and the Apax
Shareholders.

     “Determination Date” has the meaning set forth in Section 5(e) of this Agreement.

     “Digital Link Holder” has the meaning set forth in the recitals to this Agreement.

     “Disclosure Package” means, with respect to any offering of securities (i) the
preliminary prospectus, (ii) each Free Writing Prospectus and (iii) all other information, in each
case, that is deemed under Rule 159 promulgated under the Securities Act to have been conveyed to
purchasers of securities at the time of sale of such securities (including a contract of sale).

     “Effective Date” means the Closing Date, as such term is defined in the Purchase
Agreement.

     “Exchange Act” means the United States Securities Exchange Act of 1934, as amended,
and the rules and regulations of the Commission thereunder.

     “Exchange Act Registration” means the date the Company becomes a reporting company
under the Exchange Act.

3

 

     “F-3 Initiating Holders” has the meaning set forth in Section 5(a) of this Agreement.

     “F-3 Registration” has the meaning set forth in Section 5(a) of this Agreement.

     “Free Writing Prospectus” means any “free writing prospectus” as defined in Rule 405
promulgated under the Securities Act.

     “General Atlantic” has the meaning set forth in the preamble to this Agreement.

     “General Atlantic Representative” means the General Atlantic Shareholder appointed and
notified to the Company from time to time by the General Atlantic Shareholders holding a majority
of the Registrable Securities held by all General Atlantic Shareholders to act on behalf of the
General Atlantic Shareholders under this Agreement. The initial General Atlantic Representative
shall be General Atlantic.

     “General Atlantic Shareholders” means General Atlantic, any Subsequent Purchaser that
is an Affiliate of General Atlantic, and any Affiliate thereof to whom Registrable Securities are
transferred, subject to Section 11(f) of this Agreement other than a transferee to whom Registrable
Securities have been transferred pursuant to a Registration Statement under the Securities Act or
Rule 144 or Regulation S under the Securities Act (or any successor rule thereto).

     “Hunt 6-A” has the meaning set forth in the preamble to this Agreement.

     “Hunt 7-A” has the meaning set forth in the preamble to this Agreement.

     “Hunt 7-B” has the meaning set forth in the preamble to this Agreement.

     “Incidental Registration” has the meaning set forth in Section 4(a) of this Agreement.

     “Indemnified Party” has the meaning set forth in Section 8(c) of this Agreement.

     “Indemnifying Party” has the meaning set forth in Section 8(c) of this Agreement.

     “Initial Public Offering” means an underwritten initial public offering of ADSs of the
Company pursuant to an effective Registration Statement filed under the Securities Act.

     “Initiating Holders” has the meaning set forth in Section 3(a) of this Agreement.

4

 

     “Inspector” has the meaning set forth in Section 7(a)(vii) of this Agreement.

     “IPO Effectiveness Date” means the date upon which the Company closes its Initial
Public Offering.

     “Liability” has the meaning set forth in Section 8(a) of this Agreement.

     “Management Holder” has the meaning set forth in the recitals to this Agreement.

     “Market Price” means, on any date of determination, the average of the daily Closing
Price of the Registrable Securities for the immediately preceding ten (10) days on which the
relevant securities exchanges or trading systems are open for trading.

     “Marketed Underwritten Shelf Take-Down” has the meaning set forth in Section 5(d) of
this Agreement.

     “Non-Marketed Underwritten Shelf Take-Down” has the meaning set forth in Section 5(d)
of this Agreement.

     “Person” means any individual, firm, corporation, partnership, trust, incorporated or
unincorporated association, joint venture, joint stock company, limited liability company,
government (or an agency or political subdivision thereof) or other entity of any kind, and shall
include any successor (by merger or otherwise) of such entity.

     “Purchase Agreement” has the meaning set forth in the recitals to this Agreement.

     “Records” has the meaning set forth in Section 7(a)(vii) of this Agreement.

     “Registrable Securities” means any Class A Ordinary Shares currently held or hereafter
acquired by the Designated Holders and any other securities issued or issuable with respect to any
such Class A Ordinary Shares by way of share split, share dividend, recapitalization, exchange or
similar event or otherwise. As to any particular Registrable Securities, once issued such
securities shall cease to be Registrable Securities when (i) they are sold pursuant to an effective
Registration Statement under the Securities Act, (ii) they are sold under circumstances in which
all of the applicable conditions of Rule 144 (or any similar provisions then in force) are met,
(iii) they shall have ceased to be outstanding or (iv) they have been sold in a private transaction
in which the transferor’s rights under this Agreement are not assigned to the transferee of the
securities.

     “Registration Expenses” has the meaning set forth in Section 7(d) of this Agreement.

5

 

     “Registration Statement” means a Registration Statement filed pursuant to the
Securities Act, including an Automatic Shelf Registration Statement.

     “Rule 144” means Rule 144 under the Securities Act.

     “Securities Act” means the United States Securities Act of 1933, as amended, and the
rules and regulations of the Commission promulgated thereunder.

     “Selling Holders’ Counsel” has the meaning set forth in Section 7(a)(i) of this
Agreement.

     “Shelf Holder” has the meaning set forth in Section 5(d) of this Agreement.

     “Shelf Take-Down” has the meaning set forth in Section 5(d) of this Agreement.

     “Subsequent Purchaser” means any Affiliate of a Designated Holder that, after the date
hereof, acquires any Class A Ordinary Shares or Class A Ordinary Share Equivalents.

     “Telstra” has the meaning set forth in the recitals to this Agreement.

     “Underwritten Shelf Take-Down” has the meaning set forth in Section 5(d) of this
Agreement.

     “Underwritten Shelf Take-Down Notice” has the meaning set forth in Section 5(d) of
this Agreement.

     “Valid Business Reason” has the meaning set forth in Section 3(a) of this Agreement.

     “Well-Known Seasoned Issuer” means a “well-known seasoned issuer” as defined in Rule
405 promulgated under the Securities Act.

     2. Grant of Rights. The Company hereby grants registration rights to the Designated Holders upon the terms and
conditions set forth in this Agreement.

     3. Demand Registration.

          (a) Request for Demand Registration. At any time commencing one hundred and eighty
(180) days after the IPO Effectiveness Date, each of the Designated Holders (each, an
“Initiating Holder” and collectively, the “Initiating Holders”) may make a written
request to the Company to register, and the Company shall
register, under the Securities Act (other than pursuant to a Registration Statement on Form
F-4, S-4 or S-8 or any successor thereto) (a “Demand Registration”), the number of
Registrable Securities stated in such request; provided, however, that the Company
shall not be obligated to effect:

6

 

               (i) more than two such Demand Registrations for the General Atlantic Shareholder as a group
and more than two such Demand Registrations for the Apax Shareholders as a group;

               (ii) a Demand Registration if the Initiating Holder(s), together with the other Designated
Holders that include Registrable Securities in the Demand Registration pursuant to Section 4,
propose to sell their Registrable Securities at an aggregate price (calculated based upon the
Market Price of the Registrable Securities on the date of filing of the Registration Statement with
respect to such Registrable Securities) to the public of less than US$20,000,000;

               (iii) a Demand Registration in any particular jurisdiction in which the Company would be
required to execute a general consent to service of process in effecting such registration,
qualification or compliance unless the Company is already subject to service in such jurisdiction
and except as may be required by the Securities Act;

               (iv) a Demand Registration if the Initiating Holder(s) may dispose of shares of Registrable
Securities pursuant to a Registration Statement on Form F-3 pursuant to a request made under
Section 5 hereof;

               (v) a Demand Registration in any jurisdiction other than the jurisdiction(s) in which the
Company has already effected a registered public offering of its equity securities;

               (vi) a Demand Registration during the period ending on the date six (6) months immediately
following the effective date of any Registration Statement pertaining to Class A Ordinary Shares or
ADSs (other than a Registration Statement on Form S-4 or F-4 or any successor thereto or a
Registration Statement with respect to an employee benefit plan (including Form S-8 or any
successor thereto)); or

               (vii) a Demand Registration if the Company, within ten (10) days of the receipt of the request
of the Initiating Holders, gives notice to the General Atlantic Representative (on behalf of the
General Atlantic Shareholders) or the Apax Representative (on behalf of the Apax Shareholder), as
applicable, of its bona fide intention to effect the filing of a Registration Statement with the
Commission within thirty (30) days of receipt of such request (other than with respect to a
Registration Statement on Form S-4 or F-4 or any successor thereto, a Registration Statement with
respect to an employee benefit plan (including Form S-8 or any successor thereto) or any other
registration which is not appropriate for the registration of Registrable Securities).

For purposes of the preceding sentence, two or more Registration Statements filed in response to
one demand shall be counted as one Demand Registration. If the Board of
Directors, in its good faith judgment, determines that any registration of Registrable Securities
should not be made or continued because it would (i) be seriously detrimental to the Company or
(ii) require the disclosure of important confidential information that the Company has a material
business purpose for preserving as confidential or the

7

 

 disclosure of which would materially impede
the Company’s ability to consummate a significant transaction (a “Valid Business Reason”),
then the Company may (i) postpone filing a Registration Statement relating to a Demand Registration
until such Valid Business Reason no longer exists, but in no event for more than ninety (90) days;
and (ii) in case a Registration Statement has been filed relating to a Demand Registration, if the
Valid Business Reason has not resulted from actions taken by the Company, the Company may cause
such Registration Statement to be withdrawn and its effectiveness terminated or may postpone
amending or supplementing such Registration Statement. The Company shall give written notice to
the General Atlantic Representative or the Apax Representative, as applicable, on behalf of the
Initiating Holder of its determination to postpone or withdraw a Registration Statement and of the
fact that the Valid Business Reason for such postponement or withdrawal no longer exists, in each
case, promptly after the occurrence thereof. Notwithstanding anything to the contrary contained
herein, the Company may not postpone or withdraw a filing under this Section 3(a) more than once in
any twelve (12) month period. Each request for a Demand Registration by the Initiating Holders
shall state the amount of the Registrable Securities proposed to be sold and the intended method of
disposition thereof.

          (b) Effective Demand Registration. Subject to the postponement provisions in Section
3(a), the Company shall use its reasonable best efforts to cause any such Demand Registration to
become and remain effective not later than ninety (90) days after it receives a request under
Section 3(a) hereof. A registration shall not constitute a Demand Registration until it has become
effective and remains continuously effective for the lesser of (i) the period during which all
Registrable Securities registered in the Demand Registration are sold and (ii) one hundred and
eighty (180) days; provided, however, that a registration shall not constitute a
Demand Registration if (x) after such Demand Registration has become effective, such registration
or the related offer, sale or distribution of Registrable Securities thereunder is interfered with
by any stop order, injunction or other order or requirement of the Commission or other governmental
agency or court for any reason not attributable to the Initiating Holder(s) and such interference
is not thereafter eliminated or (y) the conditions specified in the underwriting agreement, if any,
entered into in connection with such Demand Registration are not satisfied or waived, other than by
reason of a failure by the Initiating Holder(s).

          (c) Expenses. The Company shall pay up to US$100,000 of Registration Expenses in
connection with any single Demand Registration. Any Registration Expenses in connection with a
Demand Registration that is in excess of US$100,000 shall be borne and paid by all of the holders
of the securities to be included in such Demand Registration, pro rata based on the value of the
Registrable Securities being sold by each holder.

          (d) Underwriting Procedures. If the Company or the Initiating Holder(s) holding a
majority of the Registrable Securities held by all Initiating Holder(s) so elect, the Company shall
use its reasonable best efforts to cause such Demand Registration to be in the form of a firm
commitment underwritten offering and the managing underwriter or underwriters selected for such
offering shall be the Approved

8

 

Underwriter selected in accordance with Section 3(e). If the
Approved Underwriter advises the Company that the aggregate amount of Registrable Securities
requested to be included in such offering exceeds the number that can be reasonably sold in such
offering, then the Company shall be required to include in such registration, to the extent of the
amount that the Approved Underwriter believes may be reasonably sold, first, all of the
Registrable Securities to be offered for the account of the Initiating Holders, pro rata based on
the number of Registrable Securities owned by each such Initiating Holder, second, all of
the securities of the shareholders of the Company that are not Initiating Holders (and who
requested to participate in such registration) as a group, pro rata based on the number of Class A
Ordinary Share Equivalents then owned by each such shareholders and third, all of the
securities to be offered for the account of the Company.

          (e) Selection of Underwriters. If any Demand Registration or F-3 Registration, as the
case may be, of Registrable Securities is in the form of an underwritten offering, the Initiating
Holders or the F-3 Initiating Holders, as applicable, shall be entitled to select and obtain an
investment banking firm or firms of international reputation to act as the managing underwriters of
the offering (the “Approved Underwriter”); provided, however, that the
Approved Underwriter(s) selected by the Initiating Holders or the F-3 Initiating Holders, as
applicable, shall, in all cases, be subject to the consent of the Company, which consent shall not
be unreasonably withheld.

     4. Incidental or “Piggy-Back” Registration.

          (a) Request for Incidental Registration. If the Company proposes to file a
Registration Statement under the Securities Act with respect to an offering (i) by the Company for
its own account (other than a Registration Statement on Form F-4, S-4 or S-8 or any successor
thereto) or (ii) for the account of any shareholder of the Company (including without limitation an
Initiating Holder pursuant to Section 3, but excluding for the account of an F-3 Initiating Holder,
which shall be governed exclusively by Section 5) (in each case, an “Incidental
Registration”), then the Company shall give written notice of such proposed filing to the
General Atlantic Representative (on behalf of the General Atlantic Shareholders) and the Apax
Representative (on behalf of the Apax Shareholders) at least thirty (30) days before the
anticipated filing date, and such notice shall describe the proposed registration and distribution
and offer the Designated Holders the opportunity to register the number of Registrable Securities
as each such Designated Holder may request (a “Notice of Incidental Registration”). Upon
the written request of any Designated Holder (made through the General Atlantic Representative or
the Apax Representative, as applicable) made within twenty-five (25) days after receipt of a Notice
of Incidental Registration (which request shall specify the Registrable Securities intended to be
disposed of by such Designated Holder), the Company shall use its commercially reasonable efforts
to permit or, in the case of a proposed underwritten offering, cause the managing underwriter or
underwriters (the
“Company Underwriter”) to permit each of the Designated Holders who have requested in
writing to participate in the Incidental Registration to include its or his Registrable Securities
in such offering on the same terms and conditions as the securities of the Company or the account
of such other shareholder, as the case may be, included therein. In connection with any Incidental
Registration under this Section 4(a) involving an

9

 

underwritten offering, the Company shall not be
required to include any Registrable Securities in such underwritten offering unless the Designated
Holders thereof accept the terms of the underwritten offering as agreed upon between the Company,
such other shareholders, if any, and the Company Underwriter, and then only in such quantity as the
Company Underwriter believes will not jeopardize the success of the offering by the Company. In
the case of an offering by the Company for its own account or for the account of any shareholder of
the Company (other than for an Initiating Holders in connection with a Demand Registration pursuant
to Section 3 or an F-3 Initiating Holder in connection with a F-3 Registration pursuant to Section
5), if the Company Underwriter determines that the registration of all or part of the Registrable
Securities which the Designated Holders have requested to be included would exceed the number that
can be reasonably sold in such offering, then the Company shall be required to include in such
Incidental Registration, to the extent of the amount that the Company Underwriter believes may be
reasonably sold, first, all of the securities to be offered for the account of the Company
(but only in the case of a Company initiated Incidental Registration), or the account of the
shareholder that initiated the Incidental Registration, as the case may be, second, the
Registrable Securities to be offered for the account of the Designated Holders pursuant to this
Section 4, pro rata based on the number of Registrable Securities owned by each such Designated
Holder; and third, any securities to be offered for the account of the Company (but only in
the case of an Incidental Registration initiated by a shareholder) and any other securities
requested to be included in such offering; and any securities so excluded shall be withdrawn from
and shall not be included in the Incidental Registration. For the avoidance of doubt and
notwithstanding anything to the contrary set forth in this Section 4(a), (i) in the case of a
Demand Registration pursuant to Section 3, to the extent that there is any cutback in the number of
shares sold in such offering, such cutback shall be governed by Section 3(d) and (ii) in the case
of a F-3 Registration pursuant to Section 5, to the extent that there is any cutback in the number
of shares sold in such offering, such cutback shall be governed by Section 5(b).

          (b) Expenses. The Company shall bear all Registration Expenses in connection with any
Incidental Registration pursuant to this Section 4.

     5. Form F-3 Registration.

          (a) Request for a Form F-3 Registration. As long as the Company is eligible to use
Form F-3 (or any successor form thereto) under the Securities Act in connection with a public
offering of its securities, subject to Section 5(c) hereof, in the event that the Company shall
receive from any of the General Atlantic Shareholders or the Apax Shareholders (each, an “F-3
Initiating Holders”), a written request that the Company register, under the Securities Act on
Form F-3 (or any successor form then in effect) (an “F-3 Registration”), all or a portion
of the Registrable Securities owned by such F-3 Initiating Holders, the Company shall give written
notice of such request to the
General Atlantic Representative (on behalf of the General Atlantic Shareholder) and the Apax
Representative (on behalf of the Apax Shareholders) (other than F-3 Initiating Holders which have
requested an F-3 Registration under this Section 5(a)) at least ten (10) days before the
anticipated filing date of such Form F-3, and such notice shall describe the proposed registration
and offer such Designated Holders the opportunity to

10

 

register the number of Registrable Securities
as each such Designated Holder may request in writing provided by the General Atlantic
Representative or the Apax Representative, as applicable, to the Company, given within ten (10)
days after their receipt from the Company of the written notice of such registration. If requested
by the F-3 Initiating Holders, such F-3 Registration shall be for an offering on a delayed or
continuous basis pursuant to Rule 415 under the Securities Act and/or (ii) if the Company is a
Well-Known Seasoned Issuer, such F-3 Registration shall be on an Automatic Shelf Registration
Statement. With respect to each F-3 Registration, the Company shall, subject to Section 5(b), (i)
include in such offering the Registrable Securities of the F-3 Initiating Holders and (ii) use its
reasonable best efforts to (x) cause such registration pursuant to this Section 5(a) to become and
remain effective as soon as practicable, but in any event not later than forty five (45) days (or,
in the case of an Automatic Shelf Registration Statement, fifteen (15) Business Days) after it
receives a request therefor and (y) include in such F-3 Registration the Registrable Securities of
the Designated Holders (other than F-3 Initiating Holders which have requested an F-3 Registration
under this Section 5(a)) who have requested in writing to participate in such registration on the
same terms and conditions as the Registrable Securities of the F-3 Initiating Holders included
therein.

          (b) Form F-3 Underwriting Procedures. If the F-3 Initiating Holders holding a
majority of the Registrable Securities held by all of the F-3 Initiating Holders so elect, the
Company shall use its commercially reasonable efforts to cause such F-3 Registration pursuant to
this Section 5 to be in the form of a firm commitment underwritten offering and the managing
underwriter or underwriters selected for such offering shall be the Approved Underwriter selected
in accordance with Section 3(d). In connection with any F-3 Registration under Section 5(a)
involving an underwritten offering, the Company shall not be required to include any Registrable
Securities in such underwritten offering unless the Designated Holders thereof accept the terms of
the underwritten offering as agreed upon between the Company, the Approved Underwriter and the F-3
Initiating Holders, and then only in such quantity as such underwriter believes do not exceed the
number that can be reasonably sold in such offering by the F-3 Initiating Holders. If the Approved
Underwriter believes that the registration of all or part of the Registrable Securities which the
F-3 Initiating Holders and the other Designated Holders have requested to be included would exceed
the number that can be reasonably sold in such public offering, then the Company shall be required
to include in the underwritten offering, to the extent of the amount that the Approved Underwriter
believes may reasonably be sold, first, all of the Registrable Securities to be offered for
the account of the F-3 Initiating Holders, pro rata based on the number of Registrable Securities
owned by such F-3 Initiating Holders; second, the Registrable Securities to be offered for
the account of the other Designated Holders who requested inclusion of their Registrable Securities
pursuant to Section 5(a), pro rata based on the number of Registrable Securities owned by such
Designated Holders; and third, any other securities
requested to be included in such offering; and any securities so excluded shall be withdrawn
from and shall not be included in the F-3 Registration.

          (c) Limitations on Form F-3 Registrations. If the Board of Directors has a Valid
Business Reason, the Company may (i) postpone filing a

11

 

Registration Statement relating to a F-3
Registration until such Valid Business Reason no longer exists, but in no event for more than sixty
(60) days, and (ii) in case a Registration Statement has been filed relating to a F-3 Registration,
if the Valid Business Reason has not resulted from actions taken by the Company, the Company, upon
the approval of a majority of the Board of Directors, may cause such Registration Statement to be
withdrawn and its effectiveness terminated or may postpone amending or supplementing such
Registration Statement. The Company shall give written notice to the General Atlantic
Representative or the Apax Representative, as applicable, on behalf of the F-3 Initiating Holders
of its determination to postpone or withdraw a Registration Statement and of the fact that the
Valid Business Reason for such postponement or withdrawal no longer exists, in each case, promptly
after the occurrence thereof. Notwithstanding anything to the contrary contained herein, the
Company may not postpone or withdraw a filing due to a Valid Business Reason more than once in any
twelve (12) month period. In addition, the Company shall not be required to effect any
registration pursuant to Section 5(a):

               (i) within one hundred thirty five (135) days after the effective date of any other
Registration Statement of the Company (other than a registration on Form S-4 or F-4 or any
successor thereto or a registration with respect to an employee benefit plan (including Form S-8 or
any successor thereto));

               (ii) if within the twelve (12) month period preceding the date of such request, the Company
has effected two (2) registrations on Form F-3 pursuant to Section 5(a);

               (iii) if Form F-3 is not available for such offering by the F-3 Initiating Holders;

               (iv) if the F-3 Initiating Holders, together with the Designated Holders registering
Registrable Securities in such registration, propose to sell their Registrable Securities at an
aggregate price (calculated based upon the Market Price of the Registrable Securities on the date
of the request by the F-3 Initiating Holders for the F-3 Registration) to the public of less than
US$5,000,000;

               (v) if the Company, within ten (10) days of the receipt of the request of the F-3 Initiating
Holders, gives notice of its bona fide intention to effect the filing of a registration statement
with the Commission within thirty (30) days of receipt of such request (other than with respect to
a Registration Statement on a Form S-4 or Form F-4 or any successor thereto, a Registration
Statement with respect to an employee benefit plan (including Form S-8 or any successor thereto) or
any other registration which is not appropriate for the registration of Registrable Securities); or

               (vi) in any particular jurisdiction in which the Company would be required to execute a
general consent to service of process in effecting such registration, qualification or compliance
unless the Company is already subject to service in such jurisdiction and except as may be required
by the Securities Act.

12

 

          (d) (i) Any Designated Holder included in a F-3 Registration (a “Shelf Holder”) may
initiate an offering or sale of all or part of such Registrable Securities (a “Shelf
Take-Down”), in which case the provisions of this Section 5(d) shall apply.

               (ii) If a Shelf Holder so elects in a written request delivered to the Company by the General
Atlantic Representative or the Apax Representative, as applicable (an “Underwritten Shelf
Take-Down Notice”), a Shelf Take-Down may be in the form of an underwritten offering (an
“Underwritten Shelf Take-Down”) and, if necessary, the Company shall file and effect an
amendment or supplement to its Shelf Registration Statement for such purpose as soon as
practicable. Such initiating Shelf Holder shall indicate in such Underwritten Shelf Take-Down
Notice whether it intends for such Underwritten Shelf Take-Down to involve a customary “road show”
(including an “electronic road show”) or other substantial marketing effort by the underwriters (a
“Marketed Underwritten Shelf Take-Down”). Upon receipt of an Underwritten Shelf Take-Down
Notice indicating that such Underwritten Shelf Take-Down will be a Marketed Underwritten Shelf
Take-Down, the Company shall promptly (but in any event no later than ten days prior to the
expected date of such Marketed Underwritten Shelf Take-Down) give written notice of such Marketed
Underwritten Shelf Take-Down to all other Shelf Holders and shall permit the participation of all
such Shelf Holders that request inclusion in such Marketed Underwritten Shelf Take-Down who respond
in writing within five days after the receipt of such notice of their election to participate. The
provisions of Section 5(b) shall apply with respect to the rights of the Shelf Holders to
participate in any Underwritten Shelf Take-Down.

               (iii) If a Shelf Holder desires to effect a Shelf Take-Down that does not constitute a
Marketed Underwritten Shelf Take-Down (a “Non-Marketed Underwritten Shelf Take-Down”), such
Shelf Holder shall so indicate in a written request delivered to the Company no later than one
Business Days prior to the expected date of such Non-Marketed Underwritten Shelf Take-Down, which
request shall include (i) the total number of Registrable Securities expected to be offered and
sold in such Non-Marketed Underwritten Shelf Take-Down, (ii) the expected plan of distribution of
such Non-Marketed Underwritten Shelf Take-Down and (iii) the action or actions required (including
the timing thereof) in connection with such Non-Marketed Underwritten Shelf Take-Down (including
the delivery of one or more stock certificates representing shares of Registrable Securities to be
sold in such Non-Marketed Underwritten Shelf Take-Down), and, if necessary, the Company shall file
and effect an amendment or supplement to its F-3 Registration for such purpose as soon as
practicable.

               (iv) All determinations as to whether to complete any Non-Marketed Underwritten Shelf
Take-Down and as to the timing, manner, price and
other terms of any Non-Marketed Underwritten Shelf Take-Down shall be at the discretion of the
applicable Shelf Holder.

          (e) Expenses. The Company shall pay up to US$100,000 of Registration Expenses in
connection with any single F-3 Registration. Any Registration Expenses in connection with an F-3
Registration that are in excess of US$100,000 shall

13

 

be borne and paid by all of the holders of the
securities to be included in such F-3 Registration, pro rata based on the value of the Registrable
Securities being registered.

          (f) Automatic Shelf Registration. Upon the Company becoming a Well-Known Seasoned
Issuer, (i) the Company shall give written notice to the General Atlantic Representative (on behalf
of the General Atlantic Shareholders) and the Apax Representative (on behalf of the Apax
Shareholders) as promptly as practicable but in no event later than 10 Business Days thereafter,
and such notice shall describe, in reasonable detail, the basis on which the Company has become a
Well-Known Seasoned Issuer and (ii) the Company shall, as promptly as practicable, register, under
an Automatic Shelf Registration Statement, the sale of all of the Registrable Securities in
accordance with the terms of this Agreement. The Company shall use its commercially reasonable
efforts to file such Automatic Shelf Registration Statement as promptly as practicable, but in no
event later than fifteen (15) days after it becomes a Well-Known Seasoned Issuer, and to cause such
Automatic Shelf Registration Statement to remain effective thereafter until there are no longer any
Registrable Securities. At any time after the filing of an Automatic Shelf Registration Statement
by the Company, if it is reasonably likely that it will no longer be a Well-Known Seasoned Issuer
as of a future determination date (the “Determination Date”), (A) at least 10 days prior to
such Determination Date, the Company shall give written notice thereof to the General Atlantic
Representative (on behalf of the General Atlantic Shareholders) and the Apax Representative (on
behalf of the Apax Shareholders) as promptly as practicable and (B) shall file a Registration
Statement on an appropriate form (or a post effective amendment converting the Automatic Shelf
Registration Statement to an appropriate form) covering all of the Registrable Securities, and use
reasonable best efforts to have such Registration Statement declared effective as promptly as
practicable (but in no event more than 30 days) after the date the Automatic Shelf Registration
Statement is no longer useable to sell Registrable Securities.

          (g) No Demand Registration. No registration requested by any F-3 Initiating Holder
pursuant to this Section 5 shall be deemed a Demand Registration pursuant to Section 3.

     6. Holdback Agreement. Restrictions on Public Sale by the Company. The Company agrees not to effect any public
sale or distribution of any of its securities, or any securities convertible into or exchangeable
or exercisable for such securities (except pursuant to registrations on Form F-4, S-4 or S-8 or any
successor thereto), during the period beginning on the effective date of any Registration Statement
in which the Designated Holders are participating and ending on the earlier of (i) the date on
which all Registrable
Securities registered on such Registration Statement are sold and (ii) ninety (90) days after
the effective date of such Registration Statement (except as part of such registration).

     7. Registration Procedures.

          (a) Obligations of the Company. Whenever registration of Registrable Securities has
been requested pursuant to Section 3, Section 4 or Section 5

14

 

of this Agreement, the Company shall
use its reasonable best efforts to effect the registration and sale of such Registrable Securities
in accordance with the intended method of distribution thereof as quickly as practicable, and in
connection with any such request, the Company shall, as expeditiously as possible:

               (i) prepare and file with the Commission a Registration Statement on any form for which the
Company then qualifies or which counsel for the Company shall deem appropriate and which form shall
be available for the sale of such Registrable Securities in accordance with the intended method of
distribution thereof, and use its best efforts to cause such Registration Statement to become
effective; provided, however, that (x) before filing a Registration Statement or
prospectus or any amendments or supplements thereto, or before using any Free Writing Prospectus,
the Company shall provide counsel selected by the Designated Holders holding a majority of the
Registrable Securities being registered in such registration (“Selling Holders’ Counsel”)
with an adequate and appropriate opportunity to review and comment on such Registration Statement
and each prospectus included therein (and each amendment or supplement thereto) and each Free
Writing Prospectus to be filed with the Commission, subject to such documents being under the
Company’s control, and (y) the Company shall notify the Selling Holders’ Counsel and each seller of
Registrable Securities of any stop order issued or threatened by the Commission and take all action
required to prevent the entry of such stop order or to remove it if entered;

               (ii) prepare and file with the Commission such amendments and supplements to such Registration
Statement and the prospectus and each Free Writing Prospectus used in connection therewith as may
be necessary to keep such Registration Statement effective for the lesser of (x) one hundred eighty
(180) days and (y) such shorter period which will terminate when all Registrable Securities covered
by such Registration Statement have been sold; provided, that if the F-3 Initiating Holders
have requested that an F-3 Registration be for an offering on a continuous basis pursuant to Rule
415 under the Securities Act, then such hundred eighty (180) day period shall be extended, if
necessary, to keep the Registration Statement continuously effective, supplemented and amended to
the extent necessary to ensure that it is available for sales of such Registrable Securities, and
to ensure that it conforms with the requirements of this Agreement, the Securities Act and the
policies, rules and regulations of the Commission as announced from time to time until all
Registrable Securities covered by such Registration Statement have been sold; and shall comply with
the provisions of the Securities Act with respect to the disposition of all securities covered by
such Registration Statement during such period in accordance with the intended methods of
disposition by the sellers thereof set forth in such Registration Statement;

               (iii) furnish to each seller of Registrable Securities, prior to filing a Registration
Statement, at least one copy of such Registration Statement as is proposed to be filed, and
thereafter such number of copies of such Registration Statement, each amendment and supplement
thereto (in each case including all exhibits thereto), the prospectus included in such Registration
Statement (including each preliminary prospectus), any other prospectus filed under Rule 424 under
the Securities Act, any documents incorporated by reference into the Registration Statement or
prospectus and

15

 

any Free Writing Prospectus as each such seller may reasonably request in order to
facilitate the disposition of the Registrable Securities owned by such seller. In addition, upon
request, the Company shall furnish to Selling Holder’s Counsel a copy of any and all transmittal
letters or other correspondence to or received from, the Commission or any other governmental
entity or self regulatory body or other body having jurisdiction (including any domestic or foreign
securities exchange) relating to such offering;

               (iv) register or qualify such Registrable Securities under such other securities or “blue sky”
laws of such jurisdictions as any seller of Registrable Securities may request, and to continue
such qualification in effect in such jurisdiction for as long as permissible pursuant to the laws
of such jurisdiction, or for as long as any Registration Statement is required to remain effective
in accordance with Section 7(a)(ii) above, whichever is shortest, and do any and all other acts and
things which may be reasonably necessary or advisable to enable any such seller to consummate the
disposition in such jurisdictions of the Registrable Securities owned by such seller;
provided, however, that the Company shall not be required to (x) qualify generally
to do business in any jurisdiction where it would not otherwise be required to qualify but for this
Section 7(a)(iv), (y) subject itself to taxation in any such jurisdiction or (z) consent to general
service of process in any such jurisdiction;

               (v) notify each seller of Registrable Securities (i) of any request of the Commission or any
other governmental or regulatory body for any amendment of or supplement to any Registration
Statement or other document related to an offering and (ii) upon discovery that, or upon the
happening of any event as a result of which, the prospectus included in such Registration Statement
or any Free Writing Prospectus contains an untrue statement of a material fact or omits to state
any material fact required to be stated therein or necessary to make the statements therein, in
light of the circumstances under which they were made, not misleading, and in the event of any such
notice, the Company shall promptly prepare a supplement or amendment to the Registration Statement,
the prospectus or Free Writing Prospectus, as the case may be, and furnish to each seller of
Registrable Securities a reasonable number of copies of such supplement to or an amendment of such
Registration Statement, prospectus or Free Writing Prospectus, as the case may be, as may be
necessary so that, after delivery to the purchasers of such Registrable Securities, such prospectus
or Free Writing Prospectus, as the case may be, shall comply with the requests of the Commission or
such other governmental or regulatory body or shall not contain an untrue statement of a material
fact or omit to state any material fact required to be stated therein or necessary to make the
statements therein, in light of the circumstances under which they were made, not misleading;

               (vi) enter into and perform customary agreements (including an underwriting agreement in
reasonable and customary form with the Approved Underwriter or Company Underwriter, if any,
selected as provided in Section 3, Section 4 or Section 5, as the case may be, provided that each
Designated Holder participating in such underwriting shall also enter into and perform its
obligations under such an agreement) and take such other actions as are prudent and reasonably
required in order to expedite or facilitate the disposition of such Registrable Securities;

16

 

               (vii) make available at times and places reasonably acceptable to the Company for inspection
by any seller of Registrable Securities, any managing underwriter participating in any disposition
of such Registrable Securities pursuant to a Registration Statement, Selling Holders’ Counsel and
any attorney, accountant or other advisor retained by any such seller or any managing underwriter
(each, an “Inspector” and collectively, the “Inspectors”), all financial and other
records, pertinent corporate documents and properties of the Company and its subsidiaries
(collectively, the “Records”) as shall be reasonably necessary to enable them to exercise
their due diligence responsibility, and cause the Company’s and its subsidiaries’ officers,
directors and employees, and the independent registered public accountants of the Company, to
supply all information reasonably requested by any such Inspectors in connection with such
Registration Statement. Records and other information that the Company determines, in good faith,
to be confidential shall not be disclosed by the Inspectors (and the Inspectors shall confirm their
agreement in writing in advance to the Company if the Company shall so request) unless (x) the
disclosure of such Records is necessary to avoid or correct a misstatement or omission in the
Registration Statement, (y) the release of such Records is ordered pursuant to a subpoena or other
order from a court of competent jurisdiction or (z) the information in such Records was known to
the Inspectors on a non-confidential basis prior to its disclosure by the Company or has been made
generally available to the public. Each seller of Registrable Securities agrees that it shall,
upon learning that disclosure of such Records is sought in a court of competent jurisdiction, give
notice to the Company and allow the Company, at the Company’s expense, to undertake appropriate
action to prevent disclosure of the Records deemed confidential;

               (viii) if such sale is pursuant to an underwritten offering, obtain “cold comfort” letters
dated the effective date of the Registration Statement and the date of the closing under the
underwriting agreement from the Company’s independent registered public accountants in customary
form and covering such matters of the type customarily covered by “cold comfort” letters as Selling
Holders’ Counsel or the managing underwriter reasonably requests;

               (ix) furnish, at the request of the Designated Holders participating in the registration
(which request shall be made through the General Atlantic Representative or the Apax
Representative, as applicable), on the date such securities are delivered to the underwriters for
sale pursuant to such registration or, if such securities are not being sold through underwriters,
on the date the Registration Statement with respect to such securities becomes effective, an
opinion, dated such date, of counsel representing the Company for the purposes of such
registration, addressed to the
underwriters, if any, and to the seller making such request, covering such legal matters with
respect to the registration in respect of which such opinion is being given as the underwriters, if
any, and such seller may reasonably request and are customarily included in such opinions;

               (x) with respect to each Free Writing Prospectus or other materials to be included in the
Disclosure Package, ensure that no Registrable Securities be sold “by means of” (as defined in Rule
159A(b) promulgated under the

17

 

Securities Act) such Free Writing Prospectus or other materials without the prior written
consent of the holders of the Registrable Securities covered by such Registration Statement, which
Free Writing Prospectuses or other materials shall be subject to the review of Selling Holders’
Counsel;

               (xi) as expeditiously as possible and within the deadlines specified by the Securities Act,
make all required filings of all prospectuses and Free Writing Prospectuses with the Commission;

               (xii) as expeditiously as possible and within the deadlines specified by the Securities Act,
make all required filing fee payments in respect of any Registration Statement or prospectus used
under this Agreement (and any offering covered thereby);

               (xiii) comply with all applicable rules and regulations of the Commission;

               (xiv) cause all such Registrable Securities to be listed on each securities exchange on which
similar securities issued by the Company are then listed;

               (xv) keep Selling Holders’ Counsel advised in writing as to the initiation and progress of any
registration under Section 3, Section 4 or Section 5 hereunder;

               (xvi) cooperate with each seller of Registrable Securities and any underwriter participating
in the disposition of such Registrable Securities and their respective counsel in connection with
any filings required to be made with the relevant securities exchange or the Financial Industry
Regulatory Authority;

               (xvii) promptly incorporate in a prospectus supplement or post-effective amendment to the
applicable Registration Statement such information as the Approved Underwriter or Company
Underwriter, if any, and the Designated Holders participating in such registration agree (with
respect to the relevant class) should be included therein relating to the plan of distribution with
respect to such class of Registrable Securities; and make all required filings of such prospectus
supplement or post-effective amendment as promptly as reasonably practicable after being notified
of the matters to be incorporated in such prospectus supplement or post-effective amendment;

               (xviii) provide a transfer agent and registrar for all Registrable Securities registered
pursuant to such registration and a CUSIP number for all such Registrable Securities, in each case
not later than the effective date of the applicable registration statement;

               (xix) otherwise use its reasonable best efforts to comply with all applicable rules and
regulations of the Commission, and make available, as soon as reasonably practicable, an earning
statement covering the period of at least twelve

18

 

months, but not more than eighteen months, beginning with the first month after the effective
date of the applicable registration statement, which earnings statement shall satisfy the
provisions of Section 11(a) of the Securities Act;

               (xx) to the extent reasonably requested by the Approved Underwriter or Company Underwriter, as
the case may be, in connection with an underwritten offering (including a Underwritten Shelf
Take-Down), send appropriate officers of the Company to attend any “road shows” scheduled in
connection with any such underwritten offering, with all out of pocket costs and expenses incurred
by the Company or such officers in connection with such attendance to be paid by the Company;

               (xxi) unless the relevant securities are issued in book-entry form, furnish for delivery in
connection with the closing of any offering of Registrable Securities unlegended certificates
representing ownership of the Registrable Securities being sold in such denominations as shall be
requested; and

               (xxii) use its reasonable best efforts to take all other steps necessary to effect the
registration of the Registrable Securities contemplated hereby.

          (b) Seller Information.

               (i) It shall be a condition precedent to the obligations of the Company to register the
Registrable Securities of any Designated Holder that such Designated Holder shall furnish to the
Company such information regarding such Designated Holder, the number of Registrable Securities
held by them and the manner of distribution of such securities as the Company may from time to time
reasonably request in writing and as shall be required in connection with any registration,
qualification or compliance referred to in this Agreement.

               (ii) In connection with any offering under any Registration Statement under this Agreement,
each Designated Holder shall not use any Free Writing Prospectus required to be filed with the
Commission without the prior written consent of the Company.

          (c) Notice to Discontinue. Each Designated Holder agrees that, upon receipt of any
notice from the Company of the happening of any event of the kind described in Section 7(a)(v),
such Designated Holder shall forthwith discontinue disposition of Registrable Securities pursuant
to the Registration Statement covering such Registrable Securities until receipt of the copies of
the supplemented or amended prospectus or Free Writing Prospectus contemplated by
Section 7(a)(v) and, if so directed by the Company, such Designated Holder shall deliver to the
Company (at the Company’s expense) all copies, other than permanent file copies then in such
Designated Holder’s possession, of the prospectus or Free Writing Prospectus covering such
Registrable Securities which is current at the time of receipt of such notice. If the Company
shall give any such notice, then the Company shall extend the period during which such Registration
Statement shall be maintained effective pursuant to this Agreement (including, without limitation,
the period referred to in Section 7(a)(ii)) by the

19

 

number of days during the period from and including the date of the giving of such notice
pursuant to Section 7(a)(v) to and including the date when sellers of such Registrable Securities
under such Registration Statement shall have received the copies of the supplemented or amended
prospectus or Free Writing Prospectus contemplated by and meeting the requirements of
Section 7(a)(v).

          (d) Registration Expenses. The Company shall pay all reasonable expenses arising from
or incident to its performance of, or compliance with, this Agreement, including, without
limitation: (i) Commission, securities exchange and Financial Industry Regulatory Authority
registration and filing fees; (ii) all fees and expenses incurred in complying with securities or
“blue sky” laws (including reasonable fees, charges and disbursements of counsel to any underwriter
incurred in connection with “blue sky” qualifications of the Registrable Securities as may be set
forth in any underwriting agreement); (iii) all expenses in connection with the preparation,
printing, filing and delivery of the registration statement, any preliminary prospectus or final
prospectus, any other offering document and amendments and supplements thereto and the mailing and
delivering of copies thereof to any underwriters and dealers; (iv) the fees, charges and expenses
of counsel to the Company and of its independent public accountants and any other accounting fees,
charges and expenses incurred by the Company (including, without limitation, any expenses arising
from any “cold comfort” letters or any special audits incident to or required by any registration
or qualification); (v) all fees of the depositary of the Company in connection with the deposit by
any Designated Holder of their Class A Ordinary Shares in exchange for ADSs; (vi) all expenses with
respect to a road show that the Company is obligated to participate in pursuant to the terms of
this Agreement; and (vii) any liability insurance or other premiums for insurance obtained in
connection with any Demand Registration or piggy-back registration thereon, Incidental Registration
or F-3 Registration pursuant to the terms of this Agreement, regardless of whether such
Registration Statement is declared effective. All of the expenses described in the preceding
sentence of this Section 7(d) are referred to herein as “Registration Expenses.” The
holders of Registrable Securities sold pursuant to a Registration Statement shall bear the expense
of any broker’s and sales commission or underwriter’s discount or commission relating to
registration and sale of such Registrable Securities.

     8. Indemnification; Contribution.

          (a) Indemnification by the Company. The Company agrees to indemnify and hold harmless
each Designated Holder, its partners, directors, officers, affiliates and each Person who controls
(within the meaning of Section 15 of the Securities Act) such Designated Holder from and against
any and all losses, claims, damages, liabilities and expenses (including reasonable costs of
investigation) (each, a “Liability” and collectively, “Liabilities”), arising out
of or based upon any untrue, or allegedly untrue, statement of a material fact contained in any
Registration Statement, prospectus, preliminary prospectus or Free Writing Prospectus or
notification or offering circular (as amended or supplemented if the Company shall have furnished
any amendments or supplements thereto) or otherwise included in the Disclosure Package or arising
out of or based upon any omission or alleged omission to state therein a material

20

 

fact required to be stated therein or necessary to make the statements therein not misleading
except insofar as such Liability arises out of or is based upon any untrue statement or alleged
untrue statement or omission or alleged omission contained in such Registration Statement,
preliminary prospectus, final prospectus or Free Writing Prospectus or otherwise included in the
Disclosure Package, in reliance and in conformity with information concerning such Designated
Holder furnished in writing to the Company by such Designated Holder expressly for use therein,
including, without limitation, the information furnished to the Company pursuant to Section 8(b).
The Company shall also provide customary indemnities to any underwriters of the Registrable
Securities, their officers, directors and employees and each Person who controls such underwriters
(within the meaning of Section 15 of the Securities Act) to the same extent as provided above with
respect to the indemnification of the Designated Holders.

          (b) Indemnification by Designated Holders. In connection with any Registration
Statement in which a Designated Holder is participating pursuant to Section 3, Section 4 or
Section 5 hereof, each such Designated Holder shall promptly furnish to the Company in writing such
information with respect to such Designated Holder as the Company may reasonably request or as may
be required by law for use in connection with any such Registration Statement, prospectus or Free
Writing Prospectus and all information required to be disclosed in order to make the information
previously furnished to the Company by such Designated Holder not materially misleading or
necessary to cause such Registration Statement not to omit a material fact with respect to such
Designated Holder necessary in order to make the statements therein not misleading. Each
Designated Holder agrees, severally and not jointly, to indemnify and hold harmless the Company,
any underwriter retained by the Company and each Person who controls the Company or such
underwriter (within the meaning of Section 15 of the Securities Act) to the same extent as the
foregoing indemnity from the Company to the Designated Holders, but only if such statement or
alleged statement or omission or alleged omission was made in reliance upon and in conformity with
information with respect to such Designated Holder furnished in writing to the Company by such
Designated Holder expressly for use in such Registration Statement, prospectus or preliminary
prospectus or Free Writing Prospectus, or otherwise included in the Disclosure Package, including,
without limitation, the information furnished to the Company pursuant to this Section 8(b);
provided, however, that the total amount to be indemnified by such Designated
Holder pursuant to this Section 8(b) shall be limited to the net proceeds (after deducting the
underwriters’ discounts and commissions) received by such Designated Holder in the offering to
which the Registration Statement, prospectus or preliminary prospectus or Free Writing Prospectus
(or Disclosure Package otherwise) relates.

          (c) Conduct of Indemnification Proceedings. Any Person entitled to indemnification
hereunder (the “Indemnified Party”) agrees to give prompt written notice to the
indemnifying party (the “Indemnifying Party”) promptly after the Indemnified Party has
actual knowledge of any action, suit, proceeding or investigation or threat thereof for which the
Indemnified Party intends to claim indemnification or contribution pursuant to this Agreement;
provided, however, that the failure so to notify the Indemnifying Party shall not
relieve the Indemnifying Party of any Liability that it may have to the Indemnified Party hereunder
(except to the extent that the Indemnifying

21

 

Party is materially prejudiced or otherwise forfeits substantive rights or defenses by reason
of such failure). If notice of commencement of any such action is given to the Indemnifying Party
as above provided, the Indemnifying Party shall have the option to assume the defense of such
action or any litigation resulting therefrom at its own expense, with counsel chosen by it and
reasonably satisfactory to such Indemnified Party. The Indemnified Party shall have the right to
employ separate counsel in any such action and participate in the defense thereof, but the fees and
expenses of such counsel shall be paid by the Indemnified Party unless (i) the Indemnifying Party
agrees to pay the same, (ii) the Indemnifying Party fails to assume the defense of such action with
counsel reasonably satisfactory to the Indemnified Party or (iii) the named parties to any such
action (including any impleaded parties) include both the Indemnifying Party and the Indemnified
Party and such parties have been advised by such counsel that either (x) representation of such
Indemnified Party and the Indemnifying Party by the same counsel would be inappropriate under
applicable standards of professional conduct or (y) there may be one or more legal defenses
available to the Indemnified Party which are different from or additional to those available to the
Indemnifying Party. In any of such cases, the Indemnifying Party shall not have the right to
assume the defense of such action on behalf of such Indemnified Party, it being understood,
however, that the Indemnifying Party shall not be liable for the fees and expenses of more than one
separate firm of attorneys (in addition to any local counsel) for all Indemnified Parties.
No Indemnifying Party shall be liable for any settlement entered into without its written consent,
which consent shall not be unreasonably withheld. No Indemnifying Party shall, without the consent
of such Indemnified Party, effect any settlement of any pending or threatened proceeding in respect
of which such Indemnified Party is a party and indemnity has been sought hereunder by such
Indemnified Party, unless such settlement includes an unconditional release of such Indemnified
Party from all liability for claims that are the subject matter of such proceeding.

          (d) Contribution. If the indemnification provided for in this Section 8 from the
Indemnifying Party is unavailable to an Indemnified Party hereunder in respect of any Liabilities
referred to herein, then the Indemnifying Party, in lieu of indemnifying such Indemnified Party,
shall contribute to the amount paid or payable by such Indemnified Party as a result of such
Liabilities in such proportion as is appropriate to reflect the relative fault of the Indemnifying
Party and Indemnified Party in connection with the actions which resulted in such Liabilities, as
well as any other relevant equitable considerations. The relative faults of such Indemnifying
Party and Indemnified Party shall be determined by reference to, among other things, whether any
action in question, including any untrue or alleged untrue statement of a material fact or omission
or alleged omission to state a material fact, has been made by, or relates to information supplied
by, such Indemnifying Party or Indemnified Party, and the parties’ relative intent, knowledge,
access to information and opportunity to correct or prevent such action. The amount paid or
payable by a party as a result of the Liabilities referred to above shall be deemed to include,
subject to the limitations set forth in Sections 8(a), 8(b) and 8(c), any legal or other fees,
charges or expenses reasonably incurred by such party in connection with any investigation or
proceeding; provided that the total amount to be contributed by any Designated Holder shall
be limited to the net proceeds (after deducting the underwriters’ discounts and commissions)
received by such Designated Holder in the offering.

22

 

     The parties hereto agree that it would not be just and equitable if contribution pursuant to
this Section 8(d) were determined by pro rata allocation or by any other method of allocation which
does not take account of the equitable considerations referred to in the immediately preceding
paragraph. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f)
of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such
fraudulent misrepresentation.

          (e) The obligations of the parties under this Section 8 shall be in addition to any liability
which any party may otherwise have to any other Person.

          (f) For the avoidance of doubt, the provisions of this Section 8 shall survive any termination
of this Agreement.

          (g) Each of the indemnified Persons referred to in this Section 8 shall be a third party
beneficiary of the rights conferred to such Person in this Section.

     9. Additional Covenants.

          (a) Rule 144. The Company covenants that from and after the IPO Effectiveness Date or
an Exchange Act Registration it shall use its best efforts to (i) file any reports and other
documents required to be filed by it under the Exchange Act in a timely manner and (ii) take such
further action as each Designated Holder may reasonably request (including, without limitation,
providing any information necessary to comply with Rule 144 under the Securities Act), all to the
extent required from time to time to enable the holders of Registrable Securities to sell such
securities without registration under the Securities Act within the limitation of the exemptions
provided by (x) Rule 144 under the Securities Act, as such rule may be amended from time to time,
or Regulation S under the Securities Act, or (y) any successor rules or regulations hereafter
adopted by the Commission to such rules or regulations. The Company shall, upon the request of any
Designated Holder, deliver to such holder a written statement as to whether it has complied with
such requirements.

          (b) ADSs. In the event that the Company pursues an offering or listing of ADSs in the
United States, the Company will use its best efforts to file a Registration Statement on Form F-6
which registers a number of ADSs that is sufficient to allow the Designated Holders to exercise
their rights under, and sell their Registrable Securities in the United States in the manner
contemplated by, Sections 3, 4 and 5 of this Agreement.

     10. Non-U.S. Listings.

          In the event that the Class A Ordinary Shares or ADSs are listed on any securities exchange
outside the United States, the Company shall (a) use all reasonable and diligent efforts to cause
all Registrable Securities to be approved for listing and freely tradeable on such stock exchange,
subject to any lock-ups required

23

 

pursuant to the rules and regulations of the relevant exchange or applicable securities law
and (b) furnish to the Designated Holders such number of copies of prospectuses, Free Writing
Prospectuses and such other documents as they may reasonably request to facilitate the disposition
of Registrable Securities by the Designated Holders on such exchange.

     11. Miscellaneous.

          (a) Recapitalizations, Exchanges, etc. The provisions of this Agreement shall apply
to the full extent set forth herein with respect to (i) the Class A Ordinary Shares, (ii) any and
all voting shares of the Company into which the Class A Ordinary Shares are converted, exchanged or
substituted in any recapitalization or other capital reorganization by the Company and (iii) any
and all equity securities of the Company or any successor or assign of the Company (whether by
merger, consolidation, sale of assets or otherwise) which may be issued in respect of, in
conversion of, in exchange for or in substitution of, the Class A Ordinary Shares and shall be
appropriately adjusted for any stock dividends, splits, reverse splits, combinations,
recapitalizations and the like occurring after the date hereof. The Company shall cause any
successor or assign (whether by merger, consolidation, sale of assets or otherwise) to enter into a
new registration rights agreement with the Designated Holders on terms substantially the same as
this Agreement as a condition of any such transaction.

          (b) No Inconsistent Agreements. The Company represents and warrants that it has not
granted to any Person the right to request or require the Company to register any securities issued
by the Company, other than the rights granted herein. The Company shall not enter into any
agreement with respect to its securities that is inconsistent with the rights granted to the
Designated Holders in this Agreement or grant any additional registration rights to any Person or
with respect to any securities which are not Registrable Securities which are prior in right to or
inconsistent with the rights granted in this Agreement.

          (c) Remedies. The Designated Holders, in addition to being entitled to exercise all
rights granted by law, including recovery of damages, shall be entitled to specific performance of
their rights under this Agreement. The Company agrees that monetary damages would not be adequate
compensation for any loss incurred by reason of a breach by it of the provisions of this Agreement
and hereby agrees to waive in any action for specific performance the defense that a remedy at law
would be adequate.

          (d) Amendments and Waivers. Except as otherwise provided herein, the provisions of
this Agreement may not be amended, modified or supplemented, and waivers or consents to departures
from the provisions hereof may not be given unless consented to in writing by (i) the Company, (ii)
the General Atlantic Shareholders holding a majority of the Registrable Securities held by all
General Atlantic Shareholders and (iii) the Apax Shareholders holding a majority of the Registrable
Securities held by all Apax Shareholders. Any such written consent shall be binding upon the
Company and all of the Designated Holders. Notwithstanding the first sentence of this

24

 

Section 11(d), the Company, without the consent of any other party hereto, may amend this
Agreement to add any Subsequent Purchaser as a party to this Agreement as a Designated Holder.

          (e) Notices. All notices, demands and other communications provided for or permitted
hereunder shall be made in writing and shall be made by registered or certified first-class mail,
return receipt requested, facsimile, courier service or personal delivery:

	 	(i)	 	if to the Company:
	 
	 	 	 	SouFun Holdings Limited

8th Floor, Tower 3, Xihuan Plaza

No. 1 Xizhimenwai Ave.

Xicheng District, Beijing 100044

People’s Republic of China

Facsimile: (8610) 5930 6137

Attention: Jill Jiao, Chief Counsel

and Investor Relations Officer
	 
	 	(ii)	 	if to the General Atlantic Shareholders:
	 
	 	 	 	General Atlantic Mauritius Limited

6th Floor, Tower A

1 CyberCity, Ebene

Mauritius

Fax: +230 403-6060

Attention: The Directors
	 
	 	 	 	With a copy (which shall not constitute notice) to:
	 
	 	 	 	c/o General Atlantic Service Company, LLC

3 Pickwick Plaza

Greenwich, CT 06830

Telephone: (203) 629-8600

Facsimile: (203) 618-9207

Attention: David Rosenstein, Esq.
	 
	 	 	 	With a copy (which shall not constitute notice) to:
	 
	 	 	 	Paul, Weiss, Rifkind, Wharton & Garrison LLP

1285 Avenue of the Americas

New York, NY 10019-6064

Telephone: (212) 373-3000

Facsimile: (212) 757-3990

Attention: Matthew W. Abbott, Esq.

25

 

	 	 	 	and
	 
	 	 	 	Paul, Weiss, Rifkind, Wharton & Garrison

12th Floor, The Hong Kong Club Building

3A Chater Road, Central

Hong Kong

Facsimile: (852) 2840-4300

Attention: Jeanette K. Chan, Esq.

	 
	 	(iii)	 	If to the Apax Shareholders
	 
	 	 	 	Hunt 7-A Guernsey L.P. Inc

Hunt 7-B Guernsey L.P. Inc

Hunt 6-A Guernsey L.P. Inc

Third Floor, Royal Bank Place

1 Glategny Esplanade

St Peter Port

Guernsey GY1 2HJ

Facsimile: +44 (0) 1481 810 099

Attention: Denise Fallaize

	 
	 	 	 	with a copy to:
	 
	 	 	 	Simpson Thacher & Bartlett LLP

425 Lexington Avenue

New York, New York 10017

Facsimile: +1 (212) 455-2502

Attention: Ryerson Symons, Esq.

     All such notices, demands and other communications shall be deemed to have been duly given
when delivered by hand, if personally delivered; when delivered by courier, if delivered by
commercial courier service; five (5) Business Days after being deposited in the mail, postage
prepaid, if mailed; and when receipt is mechanically acknowledged, if sent by facsimile. Any party
may by notice given in accordance with this Section 11(e) designate another address or Person for
receipt of notices hereunder.

          (f) Successors and Assigns; Third Party Beneficiaries. This Agreement shall inure, as
hereinafter provided, to the benefit of and be binding upon the successors and permitted assigns of
the parties hereto who execute the joinder agreement in the form attached as Schedule 1
hereto. The Demand Registration rights and the F-3 Registration rights and related rights of the
Designated Holders contained in Sections 3 and 5 hereof, shall be (i) with respect to any
Registrable Security that is proposed to be transferred to an Affiliate of such Designated Holder,
transferred to such Affiliate with written notice to the Company prior to or promptly after such
transfer and (ii) with respect to any Registrable Security that is proposed to be transferred in
all cases to a non-Affiliate, transferred only with the prior written consent of the Company, which
consent shall not be unreasonably withheld. The incidental or “piggy-back” registration rights of

26

 

the Designated Holders contained in Section 4 hereof and the other rights of each of the
Designated Holders with respect thereto shall be, with respect to any Registrable Security,
automatically transferred to any Person who is the transferee of such Registrable Security. All of
the obligations of the Company hereunder shall survive any such transfer. Except as provided in
Section 8, no Person other than the parties hereto and their successors and permitted assigns is
intended to be a beneficiary of this Agreement.

          (g) Counterparts. This Agreement may be executed in any number of counterparts and by
the parties hereto in separate counterparts, each of which when so executed shall be deemed to be
an original and all of which taken together shall constitute one and the same agreement. Delivery
of an executed counterpart of a signature page of this Agreement by facsimile shall be as effective
as delivery of a manually executed counterpart of a signature page of this Agreement.

          (h) Headings. The headings in this Agreement are for convenience of reference only
and shall not limit or otherwise affect the meaning hereof.

          (i) GOVERNING LAW. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE
WITH THE LAWS OF THE STATE OF NEW YORK, UNITED STATES OF AMERICA, WITHOUT REGARD TO THE PRINCIPLES
OF CONFLICTS OF LAW THEREOF. The parties hereto irrevocably submit to the exclusive jurisdiction
of any state or federal court sitting in the County of New York, in the State of New York over any
suit, action or proceeding arising out of or relating to this Agreement or the affairs of the
Company. To the fullest extent they may effectively do so under applicable law, the parties hereto
irrevocably waive and agree not to assert, by way of motion, as a defense or otherwise, any claim
that they are not subject to the jurisdiction of any such court, any objection that they may now or
hereafter have to the laying of the venue of any such suit, action or proceeding brought in any
such court and any claim that any such suit, action or proceeding brought in any such court has
been brought in an inconvenient forum.

          (j) WAIVER OF JURY TRIAL. EACH OF THE PARTIES HERETO HEREBY WAIVES TO THE FULLEST
EXTENT PERMITTED BY APPLICABLE LAW ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY WITH RESPECT TO ANY
LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS AGREEMENT OR THE
TRANSACTIONS CONTEMPLATED BY THIS AGREEMENT. EACH OF THE PARTIES HERETO HEREBY (A) CERTIFIES THAT
NO REPRESENTATIVE, AGENT OR ATTORNEY OF THE OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE,
THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER
AND (B) ACKNOWLEDGES THAT IT HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT AND THE TRANSACTIONS
CONTEMPLATED BY THIS AGREEMENT, AS APPLICABLE, BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND
CERTIFICATIONS IN THIS SECTION 11(j).

27

 

          (k) Severability. If any one or more of the provisions contained herein, or the
application thereof in any circumstance, is held invalid, illegal or unenforceable in any respect
for any reason, the validity, legality and enforceability of any such provision in every other
respect and of the remaining provisions hereof shall not be in any way impaired, unless the
provisions held invalid, illegal or unenforceable shall substantially impair the benefits of the
remaining provisions hereof.

          (l) Rules of Construction. Unless the context otherwise requires, references to
sections or subsections refer to sections or subsections of this Agreement.

          (m) Entire Agreement. This Agreement is intended by the parties as a final expression
of their agreement and intended to be a complete and exclusive statement of the agreement and
understanding of the parties hereto with respect to the subject matter contained herein. There are
no restrictions, promises, representations, warranties or undertakings with respect to the subject
matter contained herein, other than those set forth or referred to herein. This Agreement
supersedes all prior agreements and understandings among the parties with respect to such subject
matter.

          (n) Further Assurances. Each of the parties shall execute such documents and perform
such further acts as may be reasonably required or desirable to carry out or to perform the
provisions of this Agreement.

          (o) Other Agreements. Nothing contained in this Agreement shall be deemed to be a
waiver of, or release from, any obligations any party hereto may have under, or any restrictions on
the transfer of Registrable Securities or other securities of the Company imposed by, any other
agreement including, but not limited to, the Purchase Agreement.

          (p) Termination. If the Purchase Agreement terminates prior to Closing (as such term
is defined in the Purchase Agreement) for any reason, then this Agreement shall automatically
terminate and have no further force or effect.

[Remainder of page intentionally left blank]

28

 

     IN WITNESS WHEREOF, the undersigned have executed, or have caused to be executed, this
Registration Rights Agreement on the date first written above.

	 	 	 	 	 
	 	SOUFUN HOLDINGS LIMITED

 	 
	 	By:  	/s/ Vincent Tianquan Mo	 
	 	 	Name:  	Vincent Tianquan Mo 	 
	 	 	Title:  	Executive Chairman 	 
	 

	 	 	 	 	 

	 
	 	Signature Page
	 	Registration Rights Agreement

 

 

	 	 	 	 	 
	 	GENERAL ATLANTIC MAURITIUS LIMITED

 	 
	 	By:  	/s/ Amit Gupta 	 
	 	 	Name:  	Amit Gupta 	 
	 	 	Title:  	Director 	 
	 

	 	 	 	 	 

	 
	 	Signature Page
	 	Registration Rights Agreement

 

 

	 	 	 	 	 	 	 

	 	 	SIGNED BY HUNT 7-A GP LIMITED	 	 
	 	 	as general partner of	 	 
	 	 	HUNT 7-A GUERNSEY L.P. INC	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ David Critchlow	 	 
	 

	 	Name:
	 	 

David Critchlow
	 	 
	 

	 	Title:
	 	Director	 	 
	 
	 	 	 	 	 	 
	 	 	SIGNED BY HUNT 7-A GP LIMITED	 	 
	 	 	as general partner of	 	 
	 	 	HUNT 7-B GUERNSEY L.P. INC	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ David Critchlow	 	 
	 

	 	Name:
	 	 

David Critchlow
	 	 
	 

	 	Title:
	 	Director	 	 
	 
	 	 	 	 	 	 
	 	 	SIGNED BY HUNT 6-A GP LIMITED	 	 
	 	 	as general partner of	 	 
	 	 	HUNT 6-A GUERNSEY L.P. INC	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ David Critchlow	 	 
	 

	 	Name:
	 	 

David Critchlow
	 	 
	 

	 	Title:
	 	Director	 	 

	 	 	 	 	 

	 
	 	Signature Page
	 	Registration Rights Agreement

 

 

Schedule 1

FORM OF JOINDER

THIS JOINDER is made on the                day of

BETWEEN

	(1)	 	[    ] of [    ] (the “New Party”);

AND

	(2)	 	THE PERSONS WHOSE NAMES ARE SET OUT IN SCHEDULE 1 HERETO (collectively the “Current
Parties” and individually a “Current Party”);

AND

	(3)	 	SOUFUN HOLDINGS
LIMITED, a company
incorporated in the
Cayman Islands and
having its
registered address
at [    ] (the “Company”).

WHEREAS a Registration Rights Agreement was entered into on August 13, 2010 by and among, inter
alia, the Current Parties and the Company (the “Registration Rights Agreement”), a copy of
which the New Party hereby confirms that it has been supplied with and acknowledges the terms
therein.

NOW IT IS AGREED as follows:

	1.	 	In this Joinder, unless the context otherwise requires, words and expressions respectively
defined or construed in the Registration Rights Agreement shall have the same meanings when
used or referred to herein.
	 
	2.	 	The New Party hereby accedes to and ratifies the Registration Rights Agreement and covenants
and agrees with the Current Parties and the Company to be bound by the terms of the
Registration Rights Agreement as a [            ] and as if it had been a party thereto from
the outset and to duly and punctually perform and discharge all liabilities and obligations
whatsoever from time to time to be performed or discharged by it under or by virtue of the
Registration Rights Agreement in all respects as if named as a party therein.
	 
	3.	 	Each of the Current Parties and the Company covenants and agrees that the New Party shall be
entitled to all the benefits of the terms and conditions of the Registration Rights Agreement
to the intent and effect that the New Party shall be deemed, with effect from the date on
which the New Party is executes this Joinder, to be a party to the Registration Rights
Agreement as a [           ].
	 
	4.	 	This Joinder shall hereafter be read and construed in conjunction and as one document with
the Registration Rights Agreement and references in the Registration Rights Agreement to “the
Agreement” or “this Agreement”, and

 

 

	 	 	references in all other instruments and documents executed thereunder or pursuant thereto
to the Registration Rights Agreement, shall for all purposes refer to the Registration
Rights Agreement incorporating and as supplemented by this Joinder.
	 
	5.	 	THIS JOINDER SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF
NEW YORK, WITHOUT REGARD TO THE PRINCIPLES OF CONFLICTS OF LAW THEREOF. The parties hereto
irrevocably submit to the exclusive jurisdiction of any state or federal court sitting in the
County of New York, in the State of New York over any suit, action or proceeding arising out
of or relating to this Agreement or the affairs of the Company. To the fullest extent they
may effectively do so under applicable law, the parties hereto irrevocably waive and agree not
to assert, by way of motion, as a defense or otherwise, any claim that they are not subject to
the jurisdiction of any such court, any objection that they may now or hereafter have to the
laying of the venue of any such suit, action or proceeding brought in any such court and any
claim that any such suit, action or proceeding brought in any such court has been brought in
an inconvenient forum.
	 
	6.	 	Section 11(j) of the Registration Rights Agreement shall apply to this Joinder and shall be
incorporated herein by reference.
	 
	7.	 	The address of the undersigned for purposes of all notices under the Registration Rights
Agreement is: [           ].

	 	 	 	 	 
	 	[NEW PARTY]

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

2

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