Document:

EX-10.75

 Exhibit 10.75 

English Translation 
  

 
 Equity Pledge Agreement 

The Equity Pledge Agreement (hereinafter referred to as the “Agreement”) was entered into on September 30, 2015: 

By and among: 
 Party A: Baina Zhiyuan (Beijing) Technology
Co., Ltd. 
 Party B1: YANG Yongzhi 
 Party B2:
Beijing Changyou Star Digital Technology Co., Ltd. 
 For the purpose hereof, Party B1 and Party B2 are referred to “Party B” and Party A and
Party B are collectively herein as the “parties”, and separately, a “party”. 
 Whereas: 

 

	1	Party A is a wholly foreign-owned limited liability company legally established and validly existing under the laws of the People’s Republic of China. 

 

	2	The equity pledged is that of Baina (Wuhan) Information Technology Co. Ltd. (the “Wuhan Baina Information”), which is a limited liability company legally established and validly existing under the Chinese laws
and may be engaged in computer hardware and software, network products research and development, sales and technology transfer, technical advisory services, computer systems integration and other business as approved by East Lake Development Zone
Branch, Wuhan Administration for Industry and Commerce. 

  

	3	Party B1 is a Chinese natural person having full capacity, and holds 40% Wuhan Baina Information equity; Party B2 is a legally established and validly existing limited liability company and holds 60% Wuhan Baina
Information equity. 

  

	4	Party A, Party B and Wuhan Baina Information signed the Exclusive Call Option Agreement and Business Agreement on September 30, 2015 and Party A and Wuhan Baina Information have concluded the Exclusive Technology
Consulting and Services Agreement (the “Agreements”) on September 30, 2015. 

  

	5	In order to ensure that Party B and Wuhan Baina Information fulfill all the obligations under the Agreements, Party B is willing to provide guarantee for Party B’s and Wuhan Baina Information’s performance by
the equity held in Wuhan Baina Information. 

 NOW THEFEFORE, the parties hereby agree as follows to make clear their rights and obligations
through friendly negotiations: 
  

	I.	Pledge Right and Security Scope 

  

	1.	Party B pledges all equity it holds in Wuhan Baina Information to Party A as a guarantee for Party B’s and Wuhan Baina Information’s performance of the obligations of the Agreements. “Pledge right”
refers to Party A’s right to be firstly compensated by the price from discount or auction or sales of the equity pledged by Party B to Party A. 

  

	2.	The security under the Agreement will not be affected in any way due to any changes or alteration to the Agreement, and the guarantee hereunder will be still valid for Party B’s and Wuhan Baina Information’s
obligations under the Agreements as modified. If the Agreement for any reason becomes invalid or revoked or annulled, Party A has the right to immediately exercise the pledge right in accordance with Article IX of the Agreement. 

  
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	II.	Equity Pledged 

 Equity pledged under the Agreement is all shares held by Party B in Wuhan Baina
Information and all benefits relating to the equity pledged. Details of the equity pledged are as follows as of the effective date of the Agreement: 

Company: Baina (Wuhan) Information Technology Co., Ltd. 

Registered capital: RMB 20,000,000 
 The subject matter: Wuhan
Baina Information’s RMB 20 million equity 
  

	III.	Creation 

  

	1.	The equity pledge under the Agreement has been registered in Wuhan Baina Information’s register of members as of the effectiveness hereof. 

 

	2.	The parties further agree to include in accordance with the terms and conditions of the Agreement the pledge into Wuhan Baina Information’s register of members in a format described in Attachment I hereto, and give
the register of members recording the pledge to Party A for custody purpose. 

  

	3.	Since the pledge right establishment shall be registered in industrial and commercial administrative department where Wuhan Baina Information is registered, the parties shall abide by laws and regulations, and make
reasonable efforts to secure such registration. 

  

	IV.	Pledge Term 

  

	1.	The pledge hereunder is valid for two years as of the expiration of the performance terms of all liabilities under the Agreements (the “Pledge Term”). 

 

	2.	During the pledge term, if Party B or Wuhan Baina Information fails to fulfill its obligations under the Agreements, Party A is entitled to dispose of the pledge according to Article 9 hereof. 

 

	V.	Custody and Return of the Pledge Certificate 

  

	1.	Party B shall deliver the pledge certificate to Party A for custody purpose within three working days as of the date when the above-mentioned pledge is registered in Wuhan Baina Information’s register of members;
Party A shall have custody of the pledge documents received. 

  

	2.	If the pledge is released under the Agreement, Party A shall within three working days after the pledge is so released, return the pledge certificate to Party B and provide necessary assistance in handling of the
procedures for the pledge discharging. 

  

	VI.	Party B’s Representations and Warranties 

 Party B represents and warrants to Party A that, as of
the effective date hereof: 
  

	1.	Party B is the only legitimate holder of the equity pledged. 

  

	2.	Except the pledge created for Party A’s interests, Party B does not create any pledge or other rights on the equity. 

  

	3.	Wuhan Baina Information has adopted a resolution approving the share pledge hereunder at its board of shareholders. 

  

	4.	Once valid, the Agreement constitutes legal, valid and binding obligations upon Party B. 

  

	5.	That Party B pledges the equity under the Agreement violates neither the relevant national laws, regulations or other provisions of the government departments, nor any contract or agreements signed by and between Party
B and any third party or any commits made to any third party. 

  

	6.	Documents and materials regarding the Agreement provided by Party B to Party A are true, accurate and complete. 

  

	7.	Only with Party A’s written authority, exercise all rights as Wuhan Baina Information’s shareholder as required by Party A. 

  
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	VII.	Party B’s Undertakings 

  

	1.	During the term of the Agreement, Party B undertakes to Party A for Party A’s interests that, Party B will: 

  

	(1)	After there are enforceable pledge registration procedures with the industrial and commercial administrative department where Wuhan Baina Information is registered, the pledge hereunder shall be registered in
administrative department for industry and commerce under the Agreement. 

  

	(2)	without Party A’s prior written consent, shall not transfer the ownership, create or permit any pledge that may affect any of Party A’s rights and interests. 

 

	(3)	abide by and implement all relevant laws and regulations on pledge right, and upon receipt of the notices, instructions or advices sent or formulated by the relevant competent authority on the pledge right, present
within 5 days the above notices, instructions or advices to Party A and at the same time abide by the same or raise objections and statements with respect to above matters at Party A’s reasonable request or with Party A’s consent.

  

	(4)	promptly notify Party A of any events that may have an impact on Party B’s rights of the equity or any portion thereof or any notices received, as well as of any changes to any undertakings or obligations hereunder
or any events that may have an impact or any notices received. 

  

	2.	Party B commits that, Party A’s exercise of its rights under the Agreement shall not be interrupted or jeopardized by Party B or its heirs or principal or any other persons through legal process. 

 

	3.	Party B undertakes to Party A, to protect or improve the guarantee provided by the Agreement for the obligations of Party B and Wuhan Baina Information under the agreement, that Party B signs in faith and causes other
interested parties to sign all certificates or contracts as required by Party A and / or performs and causes other interested parties to fulfill the acts as required by Party A, and facilitates the exercise of the rights and authorizations empowered
by the Agreement to Party A. 

  

	4.	Party B undertakes to Party A to sign all relevant change documents regarding ownership certificate (if applicable and necessary) with Party A or its designated person (natural person / legal entity), and within a
reasonable period, provide Party A with all relevant notice, orders and decisions in connection with the pledge right it deems necessary. 

  

	5.	Party B undertakes to Party A, in the interests of Party A, Party B will abide by and perform all guarantees, promises, agreements, representations and conditions. Otherwise, Party B shall compensate Party A for all the
losses thus incurred. 

  

	VIII.	Breach and Liability for Breach 

  

	1.	The following matters are considered as breach: 

  

	(1)	Party B or Wuhan Baina Information fails to fulfill its obligations under each agreement. 

  

	(2)	Any representations, undertakings or warranties made by Party B in Articles 6 and 7 are materially misleading or wrong; Party B violates any other terms hereof. 

 

	(3)	Party B abandons the equity pledged or transfers the same without Party A’s written consent. 

  

	(4)	(a) due to breach, Party B’s external borrowings, guarantees, indemnities, commitments or other debt obligations are required to be repaid or performed in advance; or (b) Party B’s external borrowings,
guarantees, indemnities, commitments or other debt obligations cannot be repaid or performed on schedule when they fall due, making Party A believe that Party B’s ability to fulfill the obligations under the Agreement has been affected.

  

	(5)	Wuhan Baina Information cannot repay general debts or other liabilities. 

  
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	(6)	Reasons other than Force Majeure render the Agreement illegal or Party B cannot continue fulfilling its obligations under the Agreement. 

 

	(7)	The property owned by Party B suffers from unfavorable changes, making Party A believe that Party B’s ability to fulfill the obligations under the Agreement has been affected. 

 

	(8)	Wuhan Baina Information’s heir or agent only partially performs or refuse to perform the payment obligations under the Agreement. 

 

	(9)	Any breach arising from Party B’s acts or omissions of violating other provisions hereof. 

  

	(10)	the Agreement is held illegal under any applicable laws or leads Party B cannot continue fulfilling its obligations under the Agreement. 

 

	(11)	The governments’ approval, permission or authorization making the Agreement enforceable, legitimate and effective is revoked, terminated, void or substantially modified. 

 

	2.	Party B shall immediately notify Party A in writing after it is aware of or finds any of the matters referred to in paragraph (1) or the events may leading to the above matters. 

 

	3.	Unless the breach listed in paragraph 1 has been satisfactorily resolved to Party A’s satisfaction, Party A may send breach notice to Party B when Party B breaches or at any time after the breach, requiring Party B
to immediately dispose of the pledge right according to Article IX of the Agreement. 

  

	IX.	Exercise 

  

	1.	Before the obligations under the Agreements are fully fulfilled, without Party A’s written consent, Party B shall not transfer the pledged shares. 

 

	2.	In the event of any breach stated in Article VIII, Party B shall issue breach notice to Party B when exercising the pledge right. Party A may dispose of the pledge right at the same time as the delivery of the breach
notice under paragraph 3 of Article VIII or at any time after the breach notice is sent. 

  

	3.	Party A has the right to sell or otherwise dispose of the shares pledged under the Agreement in accordance with legal procedures. If Party A decides to exercise the pledge right, Party B undertakes to transfer
all its shareholders’ right to Party A. Moreover, Party A is entitled to be firstly compensated by the price from discount or auction or sales of the equity pledged hereunder in whole or in part under legal procedures. 

 

	4.	When Party A disposes of the pledge right under the Agreement, Party B may not create any obstacles, and shall give necessary assistance to enable Party A to exercise its pledge right. 

 

	X.	Transfer 

  

	1.	Unless with Party A’s prior written consent, Party B is not entitled to give as a gift or transfer its rights and obligations hereunder. If Party B dies, Party B agrees to immediately transfer its rights and
obligations under the Agreement to a person designated by Party A. 

  

	2.	The Agreement is binding upon Party B and its successor or inheritor, and valid for Party A and its successors, heirs or permitted assignees. 

 

	3.	Party A can transfer at any time all or any of its rights and obligations under each agreement to the person it designates (natural person / legal entity) to the extent of permitted by law, in which case, the
assignee shall enjoy and assume Party A’s rights and obligations thereunder, as if it were a party thereto. When Party A transfers its rights and obligations under each agreement, it is only required to send a written notice to Party B and
Party B shall sign agreements and / or files related to the transfer at request of Party A. 

  

	4.	Where Party A changes due to transfer, the new parties shall sign a new share pledge agreement in substance substantially consistent with the Agreement. 

  
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	XI.	Effectiveness and Termination 

  

	1.	The Agreement will take effect when sealed by Party A and Party B2 and signed by Party B1. 

  

	2.	When permits, the parties will endeavor to handle and promote the registration of the pledge under the Agreement with the industrial and commercial administrative department where Beijing Baina is registered, but the
parties at the same time confirm, the registration of the pledge hereunder will have no impact on the effectiveness hereof. 

  

	3.	Pledge revocation shall be accordingly recorded in Wuhan Baina Information’s register of members and deregistration procedures are required with the industrial and commercial administrative department where
Wuhan Baina Information is registered in accordance with the law. 

  

	XII.	Bank Charges and Others 

  

	1.	All costs and actual expenses relating to the Agreement, including but not limited to legal fees, cost of production, stamp duty and any other taxes as well as fees, shall be borne by Party B. If according to the laws,
the related taxes shall be paid by Party B, Party B shall compensate in full Party A for the taxes paid. 

  

	2.	In the event that Party B fails to pay any taxes or fees under the Agreement, or for other reasons, making Party A take any recourse way or manner, Party B shall bear all costs arising therefrom (including but not
limited to various taxes, bank charges, management fees, legal costs, legal fees and premiums etc. for disposal of the pledge right). 

  

	XIII.	Force Majeure 

  

	1.	“Force Majeure” refers to any events beyond the reasonable control of one party and inevitable even with the reasonable care of the affected party, including but not limited to, governmental action, the forces
of nature, fire, explosion, storm, flood, earthquake, tidal, lightning or war. However, lack of credit, funds or financing shall not be deemed as matters beyond the reasonable control of a party. The affected party shall immediately notify the other
party of the matters for which liability is exempted. 

  

	2.	When the performance of the Agreement is delayed or hindered due to the aforementioned force majeure, the affected party will not be liable to the extent of delay or hindrance. The affected party shall take appropriate
measures to reduce or eliminate the effects of Force Majeure and seek for resuming the performance of obligations delayed or impeded due to Force Majeure. Once the Force Majeure eliminates, the parties agree to resume the performance of the
Agreement with the maximum efforts. 

  

	XIV.	Confidentiality 

 The parties acknowledge and confirm that the oral or written information exchanged with
respect to the Agreement is confidential. 
 The parties shall keep all such information confidential, and without the prior written consent of other party,
they will not disclose any information to any third party, however, except the following information: 
  

	1.	known by or will be known by the public (but not disclosed to the public by the receiving party without authorization). 

  

	2.	as required to be disclosed by applicable laws or rules or regulations of the securities exchange. 

  

	3.	If any one party is required to disclose any information to its legal or financial advisor for the transactions contemplated hereunder, the said legal or financial advisers shall also be subject to the confidentiality
similar to this clause. Breach of confidentiality by either party’s staff or the agency hired by that party will be deemed as that by that party, which shall therefore be liable for breach. The present term will survive the invalidity,
revocation, termination or inoperability of the Agreement for any reason. 

  
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	XV.	Applicable Laws and Disputes Resolution 

  

	1.	Conclusion, validity, execution, interpretation and disputes resolution of the Agreement shall be governed by the laws of China. 

  

	2.	All the disputes arising from or in relation to the Agreement, if any, shall be amicably settled by the parties through amicable negotiations. 

 

	3.	Where an agreement fails to be concluded within thirty days after one party requests to settle the disputes through negotiation, either party agrees to submit the said disputes to China International Economic and Trade
Arbitration Commission for arbitration under its arbitration rules then in force in Beijing. The arbitral award is final and binding on all parties. All parties agree to be submitted and subject to the arbitral award. When any dispute occurs and any
dispute is under arbitration, except the matter in question, the parties may still exercise other rights under the Agreement and perform other obligations hereunder. 

 

	XVI.	Notices 

 Any notices or other communication sent by either party under the Agreement shall be made in
writing, and sent to the following address or other address specified by the other party from time to time by personal delivery, letter or by facsimile. The notices shall be deemed served: 

 

	1.	on the delivery date under personal delivery; 

  

	2.	for a notice sent by letter, on the seventh day after registered airmail (postage prepaid) is sent (marked on the postmark); or the third day after being sent to the internationally recognized delivery service.

  

	3.	if sent by fax, on the receipt time shown on the transmission confirmation printed by the sender. 

 Party A:
Baina Zhiyuan (Beijing) Technology Co., Ltd. 
 Address: South 2-1-6, Block A, # 1 Plant, No.5 A Xueyuan Road, Haidian District, Beijing 

Party B1: YANG Yongzhi 
 Address: No.14 South Avenue, Chaoyang
Gate, Foreign Enterprise Service Company, Chaoyang District, Beijing 
 Party B2: Beijing Changyou Star Digital Technology Co., Ltd. 

Address: Room A-1049, 2/F, No.3 Building, No.30 Yard, Shixing Street, Shijingshan District, Beijing 

Miscellaneous 
  

	1.	Titles of the Agreement are solely inserted for convenience and may not be used to for explanation or interpretation or in other ways affect the meanings of the provisions of the Agreement. 

 

	2.	The parties hereto acknowledge that, once valid, the Agreement constitutes the entire agreement and understanding between the parties with respect to the subject matter hereof, and supersedes all previous oral or/and
written ones reached by and between the parties before the Agreement. 

  

	3.	The Agreement is binding upon the parties hereto and their respective heirs, successors and permitted transferees, and inures to their benefits. 

 

	4.	Any one party’s failure to timely exercise the rights under the Agreement may not be considered as a waiver of those rights and will not affect that party’s exercise of the rights in the future.

  
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	5.	If any provision of the Agreement is held void, invalid, or unenforceable by any court of competent jurisdiction or arbitration agency, such provision may not affect or impair the validity or enforceability of the
remaining provisions. However, the parties hereto shall cease performance of the void, invalid and unenforceable provisions, and only make them valid and enforceable within the scope the closest to their original intention. 

 

	6.	For matters uncovered herein, the parties shall otherwise decide the same through friendly negotiations. The parties shall set down any changes and amendments to the Agreement in a written agreement. The duly signed
modification agreements and supplementary agreements with respect to the Agreement constitute an integral part hereof and bear the same legal effect as the Agreement. 

 

	7.	The Agreement is made in four copies of the same legal effect. Party A, Party B1 and Party B2 respectively hold one copy and others for equity pledge registrar for handling of equity pledge procedures.

 (The remainder of this page is intentionally left blank.) 

  
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 (Signature Page) 

Party A: Baina Zhiyuan (Beijing) Technology Co., Ltd. 

(Seal) 
 Party B1: YANG Yongzhi 

(Seal) 
 Party B2: Beijing Changyou Star Digital Technology
Co., Ltd. 
 (Seal) 

  
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 Attachment: 

Register of Members of Baina (Wuhan) Information Technology Co., Ltd. 

Date: __ __ , 2015 
  

							
	 Name
	  	 Shareholding ratio
	  	 Profile
	  	 Remark:

	YANG Yongzhi	  	RMB 8 million 
40%	  	 Nationality: Chinese

ID number: 422123197810104218
	  	 According to the Share Pledge Agreement signed by Baina Zhiyuan (Beijing) Technology Co., Ltd. (the “Beijing Baina Technology”) and
YANG Yongzhi on XX XX, 2015, YANG Yongzhi agrees to pledge 40% equity of Baina (Wuhan) Information Technology Co. Ltd. (the “Wuhan Baina Information”) to Beijing Baina Technology.

 
 The equity pledge under the Share Pledge Agreement has been registered in Wuhan Baina
Information’s register of members on XX XX, 2015.

				
	Beijing Changyou Star Digital Technology Co., Ltd.	  	RMB 12 million 
60%	  	 Nationality: Chinese

Registration No.: 110107019384580
	  	 According to the Share Pledge Agreement signed by Baina Zhiyuan (Beijing) Technology Co., Ltd. (the “Beijing Baina Technology”) and
Beijing Changyou Star Digital Technology Co., Ltd. (the “Changyou Star”) on XX XX, 2015, Changyou Star agrees to pledge 60% equity of Baina (Wuhan) Information Technology Co. Ltd. (the “Wuhan Baina Information”) to Beijing Baina
Technology.
  
 The equity pledge under the Share Pledge Agreement has been registered in
Wuhan Baina Information’s register of members on XX XX, 2015.

  
 9EX-10.76

 Exhibit 10.76 

English Translation 
  

 
 Exclusive Call Option Agreement

 The Exclusive Call Option Agreement (hereinafter referred to as the “Agreement”) was entered into on September 30, 2015: 

By and among: 
 Party A: Baina Zhiyuan (Beijing) Technology
Co., Ltd. 
 Party B: YANG Yongzhi        ID number: 422123197810104218 

Party C: Beijing Changyou Star Digital Technology Co., Ltd. 

Party D: Baina (Wuhan) Information Technology Co., Ltd. 

For the purpose hereof, Party B and Party C are collectively herein as the “Party D’s Shareholders”; Party A, Party B, Party C and Party D are
referred to each a “party” and collectively herein as the “parties”. 
 Whereas 

 

	1	Party A is a wholly foreign-owned limited liability company legally established and validly existing under the laws of the People’s Republic of China. 

 

	2	Party D is a domestic limited liability company legally established and validly existing under the laws of the People’s Republic of China. 

 

	3	Party B and Party C are Party D’s shareholders, and Party B holds Party D’s 40% equity and Party C, 60%. 

  

	4	Party D’s Shareholders agree to grant to Party A and Party A agrees to accept an exclusive right according to the Agreement, to buy all or part of the shares held by Party D’s Shareholders. 

Therefore, the parties hereto agree as follows for mutual compliance through friendly consultations and in the principles of equality and mutual benefit: 

 

	I.	Exclusive Call Option 

  

	1.	Grant of rights 

 Party D’s Shareholders hereby irrevocably grant an exclusive right to Party A, under
which, since the entry into force of the Agreement, to the extent permitted by Chinese laws, Party A or a third party designated by Party A can at any time purchase from Party D’s Shareholders all or part of shares they hold at RMB 1 or the
minimum price upon exercise when Chinese laws and regulations permit. Party D hereby agrees that Party D’s Shareholders grant an exclusive call option to Party A. 

Aforesaid call option will take effect and be granted to Party A after the Agreement is signed by the parties and once granted, the grant may not be revoked
or changed within the term hereof (including any extension according to paragraph 2 of this article). 
  

	2.	Term 

 The Agreement was signed by the parties as of the date first written above with immediate effect. The
Agreement is valid for ten years, commencing from the effectiveness date hereof. Before the expiration hereof, the parties shall extend the term of the Agreement as required by Party A at the request of Party A and as required by Party A, separately
sign the Exclusive Call Option Agreement or continue performing the Agreement. 

  
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	II.	Options and Closing 

  

	1.	Exercise time 

  

	(1)	Party D’s Shareholders agree that when permitted by Chinese laws and regulations, Party A may call option in whole or in part at any time after the Agreement is signed and take effect. 

 

	(2)	Party D’s Shareholders agree that Party A’s exercise frees from limits on times, unless they have acquired and hold all Party D’s shares. 

 

	(3)	Party D’s Shareholders agree that, Party A can designate a third party as its representative to exercise the option, but upon exercise, Party A shall give prior written notice to Party D’s Shareholders.

  

	2.	Exercise notice 

 If Party A intends to call option, it shall notify Party D’s Shareholders in writing 10
working days before the closing date (as defined below), specifically stating the following terms: 
  

	(1)	the effective closing date after the exercise of the option (the “closing date”). 

  

	(2)	the name of the holder to be registered after the option is exercised. 

  

	(3)	Number of shares and the proportion purchased from Party D’s Shareholders. 

  

	(4)	Exercise price and its terms of payment. 

  

	(5)	The power of attorney (if exercised by a third party specified by Party A). 

 The parties agree that Party A
may at any time appoint a third party to exercise the option and register the shares in the name of the third party. 
  

	3.	Transfer 

 When Party A exercises the option, within ten working days upon receipt of the exercise notice sent
by Party A according to the second paragraph of this article: 
  

	(1)	Party D’s Shareholders shall cause Party D to promptly convene a shareholders’ meeting, at which, a resolution approving the transfer of shares by Party D’s Shareholders to Party A and (or) a third party
designated by Party A shall be adopted. 

  

	(2)	Party D’s Shareholders shall sign the Share Transfer Agreement with Party A (or if applicable, with the third party designated by Party A). 

 

	(3)	Party D’s Shareholders shall sign all other necessary contracts, agreements or documents, obtain all the necessary government approvals and consents, and take all necessary actions, without any attached security
interest, transfer the effective ownership of the shares to be purchased to Party A and (or) the third party designated by it and make the same the holder of the shares to be purchased registered with the administrative department for industry and
commerce. Moreover, they shall submit to Party A or its designated third party the latest business license, articles of association, certificate of approval (if applicable) and other relevant documents issued by or registered with competent Chinese
authorities, reflecting Party D’s changes of equity, directors, legal representative, and other matters. 

  

	III.	Representations and Undertakings 

  

	1.	Party D’s Shareholders respectively and together with Party D represent and undertake that: 

  

	(1)	Party D’s Shareholders and Party D have complete rights and authorizations to sign and perform the Agreement. 

  

	(2)	The performance of the Agreement and obligations hereunder by Party D’s Shareholders are not in violation of the laws, regulations and other agreements having binding force on them, and the approval or
authorization of the government departments is not required. 

  
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	(3)	Party D’s Shareholders and Party D do not have any pending litigations, arbitrations or other judicial or administrative procedures or those may materially affect the performance of the Agreement.

  

	(4)	Party D’s Shareholders and Party D have disclosed to Party A all the possible adverse effects on the performance of the Agreement. 

 

	(5)	Party D’s Shareholders and Party D are not subject to bankruptcy, and their financial position is strong. 

  

	(6)	There are no pledge, security, liability and other third party encumbrances on the equity held by Party D’s Shareholders and Party D’s Shareholders free from any third party’s recourse, excluding the
security interest as agreed in the Share Pledge Agreement signed by Party A and Party D’s Shareholders. 

  

	(7)	Party D’s Shareholders will not set any pledge, liabilities and other third party encumbrances on the equity held in Party D and not transfer, gift, pledge or otherwise dispose of their shareholdings to persons
other than Party A or a third party designated by Party A. 

  

	(8)	The option granted by Party D’s Shareholders to Party A is exclusive and Party D’s Shareholders shall not, in any way, grant any options or similar rights to persons other than Party A or any third party
appointed by Party A. 

  

	2.	Party D represents and undertakes that: 

  

	(1)	Within the term hereof, Party D’s business comply with laws, regulations, rules and other administrative regulations and guidelines promulgated by the government departments and there is no violation of any of the
foregoing provisions, therefore causing significant adverse effects on the company’s business or assets. 

  

	(2)	In accordance with sound financial and business standards and practices, maintain its existence. Prudently and effectively operate its business and process services; and it will do its best efforts to ensure that the
company maintains the license, permit and approval necessary for its operation, and to ensure that such permits, licenses and approvals, etc. will not to be cancelled, withdrawn or declared null and void. 

 

	(3)	timely provide Party A on its demand with the information on Party D’s operating and financial situation. 

  

	(4)	Before Party A (or the third party appointed by Party A) exercises the option and obtains all of Party D’s rights and interests, Party D shall not conduct the following acts unless with the written consent of Party
A (or the third party appointed by it): 

  

	(a)	it will not sell, transfer, mortgage or otherwise dispose of any assets, business or income, or allow to create any other security interests thereon (except those during normal or daily business course or disclosed to
Party A and obtained Party A’s prior written consent); 

  

	(b)	reach any transactions materially having adverse effects on its assets, liabilities, operations, equity and other legitimate rights (except those during normal or daily business course or disclosed to Party A and
obtained Party A’s prior written consent). 

  

	(c)	distribute in any form dividends or bonus to Party D’s Shareholders. 

  

	(d)	incur, inherit, provide guarantee for or allow any debts, except the debts (i) other than borrowing during normal or daily business course; (ii) disclosed to Party A and obtained Party A’s prior written
consent. 

  

	(e)	by the resolutions of shareholders’ meeting, increase or reduce Party D’s registered capital, or otherwise change the structure of the registered capital. 

  
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	(f)	supplement, change or modify in any form Party D’s articles of association, or change its business scope. 

  

	(g)	modify or remove any of Party D’s director or to replace any senior officers. 

  

	(h)	alter Party D’s normal business program or modify any of the company’s major internal rules and regulations. 

  

	(i)	make major changes to Party D’s business management pattern, marketing strategy, business policy, or customer relations. 

  

	(j)	conduct any activities beyond the normal scope of business or operate any business of Party D by using any manner not consistent with part one or any unusual way. 

 

	(k)	merge or ally with any person, or purchase, or invest in any person. 

  

	3.	Party D’s Shareholders represent and undertake that: 

  

	(1)	Before Party A (or the third party appointed by Party A) exercises the option and obtains all of Party D’s rights and assets, Party D’s Shareholders shall not conduct the following acts, whether jointly or
respectively, unless with the written consent of Party A (or the third party appointed by it): 

  

	(a)	supplement, change or modify in any form Party D’s charter documents, and such supplements, changes or modification will materially have adverse effects on Party D’s assets, liabilities, operations, equity and
other legitimate rights (except pro rata investment increase to meet the legal requirements), or may affect the Agreement and the effective performance of other agreements signed by Party A, Party B, Party C and Party D. 

 

	(b)	cause Party D to reach any transactions materially having adverse effects on its assets, liabilities, operations, equity and other legitimate rights (except those during normal or daily business course or disclosed to
Party A and obtained Party A’s prior written consent). 

  

	(c)	cause Party D to distribute dividends or bonus through the resolutions of the shareholders’ meeting. 

  

	(d)	they will not sell, transfer, mortgage or otherwise dispose of any legal or beneficial benefits in equity, or allow to create any other security interests thereon at any time as of the effectiveness hereof.

  

	(e)	they will not cause through the resolutions of shareholders’ meeting Party D to sell, transfer, mortgage or otherwise dispose of any legal or beneficial benefits in equity, or allow to create any other security
interests thereon. 

  

	(f)	cause Party D through resolutions of shareholders’ meeting to merge or ally with any person, or purchase, or invest in any person or involve in any forms of reorganization. 

 

	(g)	close business, liquidate or dissolve Party D. 

  

	(2)	Before Party A (or the third party appointed by Party A) exercises the option and obtains all of Party D’s rights and assets, Party B, Party C and Party D undertake that: 

 

	(a)	forthwith notify Party A of any litigations, arbitrations or administrative proceedings or of any potential ones with respect to the equity held by Party B or any adverse effect on that equity. 

 

	(b)	cause Party D’s board of shareholders to consider and deliberate the transfer of the shares to be purchased under the Agreement, cause Party D to amend its articles of association in order to reflect the transfer
of the shares from Party D’s Shareholders to Party A and (or) its designated third party, as well as other changes described in the Agreement, and immediately apply to the competent Chinese authority for approval (such as those required by law)
and handle registration for changes, to cause Party D through the shareholders’ meeting to approve the appointment of Party A and (or) the third party appointed by Party A as a new director and a new legal representative. 

  
 4 

 English Translation 
  

 
  

	(c)	In order to maintain its ownership of the equity, execute all necessary or appropriate documents, take all necessary or appropriate actions and file all necessary or appropriate complaints or claims to make all
necessary and appropriate defenses. 

  

	(d)	on Party A’s demand at any time, unconditionally and immediately at any time transfer their equity to a third party designated thereby, and give up the right of first refusal available to them with respect to the
equity subject to above share transfer of another existing shareholder. 

  

	(e)	strictly abide by the Agreement and other contracts signed by Party D’s Shareholders and Party A, earnestly fulfill their obligations thereunder, and will not conduct any actions / omissions sufficient to affect
the validity and enforceability thereof. 

  

	4.	Undertakings 

 Party D’s Shareholders commit to Party A that, Party D’s Shareholders will handle all
procedures necessary for making Party A and (or) its designated third party become Party D’s Shareholders. Procedures include but are not limited to assistance for Party A in obtaining the related and necessary approvals from government
departments on the share transfer, and submission of the share transfer agreement, resolutions of shareholders’ meeting and other documents to the relevant administrative department for industry and commerce, to modify the articles of
association, register of members and other constitutional documents and the related costs are assumed by Party A. 
  

	5.	Party D’s Shareholders hereby represent and warrant as follows to Party A on the date of the Agreement and on each closing date: 

 

	(1)	they have the right to sign and deliver the Agreement and any share transfer contract they have signed for the transfer of the shares to be purchased under the Agreement (the “transfer contract”), and have the
power and ability to perform the obligations under the Agreement and any transfer contract. Once signed, the Agreement and the transfer contracts to which they are a party constitute legal, valid and binding obligations upon them and can be enforced
according to their terms. 

  

	(2)	the signing and delivery of the Agreement or any of the transfer contract and the performance of their obligations under the agreement or any of the transfer contracts will not: (i) result in violation of any
relevant Chinese laws and regulations; (ii) conflict with their articles of association or other charter documents; (iii) lead to any violation of any contract or deed, or constitute a breach of any contract or deed to which they are a
party or that are binding upon them; (iv) result in violation of any conditions for granting of any permit or approval; or (v) make any license or approval issued to them suspended or withdrew or have any additional conditions;

  

	(3)	Party D’s Shareholders have good and marketable ownership of all their shares in Party D. Party D’s Shareholders do not create any security interest in the equity, excluding the security interest as agreed in
the Share Pledge Agreement. 

  

	(4)	Party D has no outstanding debts, (i) other than borrowing during normal business course; (ii) disclosed to Party A and obtained Party A’s prior written consent. 

 

	(5)	Party D will abide by all laws and regulations applicable to the shares and assets acquisition. 

  

	(6)	currently, there are no ongoing or pending or potential litigations, arbitrations or administrative proceedings with respect to the equity, Party D’s assets or Party D. 

  
 5 

 English Translation 
  

 
  

	IV.	Special Agreements 

 Party D’s Shareholders undertake that whether their shareholding in Party D
changes, all of their equity in Party D shall be subject to the Agreement, and the Agreement applies to all of Party D’s shares held by them at that time. 
  

	V.	Breach 

  

	1.	Except as otherwise provided in the Agreement, if any party fails to perform or suspend the performance of its obligations under the Agreement, and within thirty days from the receipt of the notice from other parties
did not correct the above acts, or its statement and guarantee is not true, it constitutes a breach of contract. 

  

	2.	In the event that any party breaches the Agreement or any of its statements and guarantees made hereunder, other parties may notify the defaulting party in writing, requiring it to rectify the breach within ten days
from the receipt of the notice, to take corresponding measures in a timely and effective manner to avoid damages and continue performing its obligations under the Agreement. 

 

	3.	If the defaulting party fails to correct its default within ten days based on the above agreement after receiving the notice, other parties are entitled to require the defaulting party to compensate for any costs,
liabilities or losses (including but not limited to the interest paid or loss and the legal costs due to breach). 

  

	VI.	Taxes 

 Taxes and fees arising from the performance hereof will be respectively borne by the party
concerned in accordance with the applicable laws and regulations. 
  

	VII.	Confidentiality 

  

	1.	The parties agree to take all reasonable measures to keep confidential the execution, terms and performance the Agreement, and any other party’s confidential information and information understood or accessed in
the performance hereof (the “Confidential Information”); without the prior written consent of the providing party, the Confidential Information shall not be disclosed, given or transferred to any third party. 

 

	2.	For the following information, the above restrictions will not apply: 

  

	(1)	materials can be obtained by a general public at the time of disclosure. 

  

	(2)	materials can be obtained by a general public after the disclosure not due to the fault of one party hereto. 

  

	(3)	materials that are not obtained from the other party directly or indirectly and the party hereto can prove that it has already known before disclosure. 

 

	(4)	the party hereto has the duty to make disclosure to the relevant government departments, stock exchanges or other institutions or for its normal operation needs, directly disclose the Confidential Information to the
legal and accounting counsel as required by law. 

  

	3.	The parties agree that this clause will survive changes, revocation or termination of the Agreement. 

  

	VIII.	Effectiveness 

 The Agreement will take effect as of the date first written above after sealed by Party
A, Party C and Party D and signed by Party B. 
  

	IX.	Applicable Laws and Dispute Resolution 

  

	1.	Applicable Laws 

 Conclusion, validity, performance, interpretation, and disputes resolution of the Agreement
shall be governed by the laws of China. 

  
 6 

 English Translation 
  

 
  

	2.	Arbitration 

 If and in the event that the parties hereto have disputes on the interpretation and performance of
the terms hereunder, the parties shall solve the same upon negotiations in good faith. Where an agreement fails to be concluded within thirty days after one party requests in writing to settle the disputes through negotiation, either party agrees to
submit the said disputes to China International Economic and Trade Arbitration Commission for arbitration under its arbitration rules then in force. Arbitration place is Beijing and the arbitration will be proceeded in Chinese. The arbitral award is
final and binding on all parties hereto. This article will survive the termination or revocation of the Agreement. 
  

	X.	Force Majeure 

  

	1.	“Force Majeure” means all events that cannot be controlled or predicted by any party hereto, or even predictable but inevitable, and hinder that party from fulfilling its obligations hereunder in whole or in
part. Such events include but are not limited to any strike, factories closure, explosion, marine perils, natural disasters or public enemy, fires, floods, sabotage, accidents, war, riot, insurrection, and any other similar events.

  

	2.	Where any Force Majeure events occur, leading to the affected party’s inability to perform any obligations under the Agreement, during the period when the force majeure event lasts, the obligations hereunder
therefore blocked shall be suspended, and the performance date shall be automatically extended to the end of the force majeure event, and the affected party will not be subject to any penalty. 

 

	3.	In case of any Force Majeure, the affected party shall immediately notify other parties in written form, and provide appropriate evidence proving the occurrence of that Force Majeure and its duration. The affected party
shall use all reasonable efforts to terminate the Force Majeure. 

  

	4.	When any Force Majeure occurs, the parties shall immediately negotiate to find a fair solution, and shall also use all reasonable efforts to minimize the consequences of that Force Majeure. 

 

	5.	If the Force Majeure event lasts for over ninety days, and the parties failed to agree on a fair solution, either party is entitled to terminate the Agreement. If the Agreement is terminated according to the foregoing
provisions, there will be no new rights or obligations, but the rights and obligations incurred before the termination of the Agreement will survive the termination hereof. 

 

	XI.	Miscellaneous 

  

	1.	Modifications 

 The parties hereby confirm that the Agreement is fairly and reasonably made of by and among the
parties on the basis of equality and mutual benefit. For all the discussions, negotiations and written agreements by and among the parties with respect to the contents hereof before the conclusion of the Agreement, if inconsistency with the
Agreement, the Agreement shall prevail. Any modification, supplement or change of the Agreement shall be made in writing form and may not take effect before sealed by Party A, Party C and Party D and signed by Party B. 

 

	2.	Notices 

 All notices or other communications as required in the Agreement shall be in writing in Chinese and
delivered by personal delivery (including EMS) or registered airmail. Where the mailing address is changed without written notice, all notices and communications shall be sent to the following address: 

Party A: Baina Zhiyuan (Beijing) Technology Co., Ltd. 
 Address:
South 2-1-6, Block A, # 1 Plant, No.5 A Xueyuan Road, Haidian District, Beijing 
 Zip code: 100000 

  
 7 

 English Translation 
  

 
  

 Party B: YANG Yongzhi 

Address: No.14 South Avenue, Chaoyang Gate, Foreign Enterprise Service Company, Chaoyang District, Beijing 

Zip code: 100000 
 Party C: Beijing Changyou Star Digital
Technology Co., Ltd. 
 Address: Room A-1049, 2/F, No.3 Building, No.30 Yard, Shixing Street, Shijingshan District, Beijing 

Zip code: 100043 
 Party D: Baina (Wuhan) Information Technology
Co., Ltd. 
 Address: 3/F, Building A2, Phase 1 Jinronggang, No.77 Optical Valley Avenue, Donghu Development Zone, Wuhan 

Zip code: 430000 
  

	3.	Notice and Service 

 Notices and communications shall be considered served: 

 

	(1)	on the receipt of the receiving party if by personal delivery (including EMS). 

  

	(2)	on the third day as of the date shown on the post office’s receipt if by registered mail. 

  

	4.	Severability 

 Without prejudice to other provisions of the Agreement, if any provision of the Agreement or any
part thereof is held invalid, illegal, or unenforceable, or violates public benefits, the validity, legality, and enforceability of the remainder hereof will not be affected or damaged thereby. All parties shall sincerely negotiate a clause to the
satisfaction of all parties to replace the invalid one. 
  

	5.	Successors 

 The Agreement is binding on the parties’ legal successors and assignees. 

 

	6.	Waiver 

 Any one party’s failure to exercise or timely exercise the rights under the Agreement may not be
considered as a waiver of those rights and any single exercise will not affect that party’s exercise of any other rights in the future. 
  

	7.	Language and Counterparts 

 The Agreement is made in four copies in Chinese of the same legal effect. Each party
holds one. 
 (The remainder of this page is intentionally left blank.) 

  
 8 

 English Translation 
  

 
  

 (Signature Page of the Exclusive Call Option Agreement) 

Party A: Baina Zhiyuan (Beijing) Technology Co., Ltd. 

(Seal) 
 Party B: YANG Yongzhi 

(Seal) 
 Party C: Beijing Changyou Star Digital Technology
Co., Ltd. 
 (Seal) 
 Party D: Baina (Wuhan) Information
Technology Co., Ltd. 
 (Seal) 

  
 9

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