Document:

Amended and Restated Equity Option Agreement, dated as of August 16, 2010

  
 Exhibit 10.16 

 
  
 AMENDED AND RESTATED 
 EQUITY OPTION AGREEMENT 

This Amended and Restated Equity Option Agreement (this “Agreement”) is entered in Beijing, the People’s Republic of China
(“PRC”, excluding the Hong Kong Special Administrative Region, the Macao Special Administrative Region and Taiwan, for the purposes of this Agreement) and dated August 16, 2010, by and among the following parties:

  

	(1)	1VERGE INTERNET TECHNOLOGY (BEIJING) CO., LTD. (“1Verge Internet”) 

 Legal Address: Section D, 5/F, SinoSteel Plaza, No 8, Haidian Street, Haidian District, Beijing, China 

Legal Representative: Victor Wing Cheung Koo 
  

	(2)	QIN Qiong, a PRC citizen whose PRC identification number is 310108197109214485, and whose residential address is Room 1602, Tower 3, Palm Tree International Apartment, 8 South
Chaoyang Park Road, Beijing 100026, PRC 

  

	(3)	LIU Dele, a PRC citizen whose PRC identification number is 310101196805284437 and whose residential address is, 1701 Tower D, Sunz Garden, 98 Jianguo Road, Beijing, PRC

 (Each of QIN Qiong and LIU Dele is hereinafter referred to as a “Grantor” and collectively the
“Grantors”) 
 WHEREAS: 
  

	A.	1Verge Internet is a wholly foreign-owned enterprise, duly established and registered in Beijing under the laws of the PRC. 

 

	B.	The Grantors together hold 100% of the registered capital of Beijing Jiaheyi Advertising Co., Ltd. (“Jiaheyi”), a limited liability company, with a registered
capital of RMB 100,000. (the “Equity Interests”), of which QIN Qiong and LIU Dele hold 80% and 20%, respectively. 

  

	C.	The Grantors entered into an Amended and Restated Loan Agreement on August 16, 2010 (the “Loan Agreement”), pursuant to which 1Verge Internet
extended loans in an aggregate amount of RMB 80,000 to QIN Qiong and RMB 20,000 to LIU Dele respectively (collectively, the “Loans”). 

  

	D.	Each of the Grantors has agreed to grant exclusively to 1Verge Internet an option to acquire the Equity Interests that have been registered in his/her name, subject to the terms
and conditions set forth below. The Grantors entered into two Share Option Agreements with 1Verge Internet with respect to the grant of the option to acquire Equity Interest to 1Verge Internet before the date of this Agreement (collectively, the
“Previous Option Agreements”), which were in form and substance similar to this Agreement. The Grantors and 1Verge Internet have strictly complied with all stipulations under the Previous Option Agreements. The Grantors and 1Verge
Internet believe it in the best interest of all parties to amend and restate the Previous Option Agreements. 

  
  

					
	Amended and Restated Equity Option Agreement	  	-1-	  	

  
  

  
 THEREFORE, Through Friendly
Negotiation In The Principle Of Equality And Common Interest, The Parties Agree As Follows: 
 SECTION 1: GRANT OF THE OPTION

  

	1.1	Grant of Option 

 Each of the Grantors hereby grants
to 1Verge Internet an option (each an “Option” and collectively the “Options”) to acquire their respective Equity Interests at the price equivalent to the lowest price then permitted by PRC laws, and 1Verge Internet
shall make payment of such price by cancelling all or a portion of the Loans. Each of the Options shall become vested as of the date of this Agreement. 
  

	1.2	Term 

 This Agreement shall take effect as of the
Effective Date and shall remain in full force and effect until the earlier of (1) the date on which all of the Equity Interests have been acquired by 1Verge Internet directly or through its designated representative (individual or legal
person); or (2) the unilateral termination by 1Verge Internet (at its sole and absolute discretion), by giving 30 days prior written notice to the Grantors of its intention to terminate this Agreement. 

 

	1.3	Consideration of Options 

 The Grantors acknowledge
that 1Verge Internet’s provision of the Loans to the Grantors is deemed to be the consideration for the grant of the Options, the sufficiency and payment of which have been acknowledged and recognized. 

 

	1.4	EFFECTIVE DATE 

 This Agreement shall be effective
upon its being signed by the parties hereunder (“Effective Date”). 
 SECTION 2: EXERCISE OF THE OPTION AND ITS CLOSING

  

	2.1	Timing of Exercise 

  

	 	2.1.1	Each of the Grantors agrees that 1Verge Internet in its sole discretion may at any time, and from time to time after the date hereof, exercise the Option granted by such Grantor,
in whole or in part, to acquire all or any portion of their respective Equity Interests. 

  
  

					
	Amended and Restated Equity Option Agreement	  	-2-	  	

  
  

  

	 	2.1.2	For the avoidance of doubt, each of the Grantors hereby agrees that 1Verge Internet shall be entitled to exercise the Option granted by such Grantor for an unlimited number of
times, until all of his/her Equity Interests have been acquired by 1Verge Internet. 

  

	 	2.1.3	Each of the Grantors agrees that 1Verge Internet may designate in its sole discretion any third party to exercise the Option granted by such Grantor on its behalf, in which case
1Verge Internet shall provide written notice to such Grantor at the time the Option granted by such Grantor is exercised. 

  

	2.2	Transfer 

 Each of the Grantors agrees that the
Option grant by such Grantor shall be freely transferable, in whole or in part, by 1Verge Internet to any third party, and that, upon such transfer, the Option may be exercised by such third party upon the terms and conditions set forth herein, as
if such third party were a party to this Agreement, and that such third party shall assume the rights and obligations of 1Verge Internet hereunder. 
  

	2.3	Notice Requirement 

  

	 	2.3.1	To exercise an Option, 1Verge Internet shall send a written notice to the relevant Grantor, and such Option is to be exercised by no later than ten (10) days prior to each
Closing Date (as defined below), specifying therein: 

  

	 	2.3.1.1	The date of the effective closing of such acquisition (a “Closing Date”); 

 

	 	2.3.1.2	the name of the person in which the Equity Interests shall be registered; 

  

	 	2.3.1.3	the amount of Equity Interests to be acquired from such Grantor; 

  

	 	2.3.1.4	the type of payment; and 

  

	 	2.3.1.5	a letter of authorization, where a third party has been designated to exercise the Option. 

 

	 	2.3.2	For the avoidance of doubt, it is expressly agreed among the parties that 1Verge Internet shall have the right to exercise the Options and elect to register the Equity Interests
in the name of another person as it may designates from time to time. 

  
  

					
	Amended and Restated Equity Option Agreement	  	-3-	  	

  
  

  

	2.4	Closing 

 On each Closing Date, 1Verge Internet shall
make payment by cancelling all or a portion of the Loans payable by such Grantor to 1Verge Internet, in the same proportion that 1Verge Internet or its designated party acquires the Equity Interest held by such Grantor. 

SECTION 3: COMPLETION 
  

	3.1	Capital Contribution Transfer Agreement 

Concurrently with the execution and delivery of this Agreement, and from time to time upon the request of 1Verge Internet, each of the Grantors
shall execute and deliver one or more capital contribution transfer agreements, each in the form and content substantially satisfactory to 1Verge Internet (each a “Transfer Agreement”), together with any other documents necessary to
give effect to the transfer to 1Verge Internet or its designated party of all or any part of the Equity Interests upon an exercise of the Option by 1Verge Internet (the “Ancillary Documents”). Each Transfer Agreement and the
Ancillary Documents are to be kept in 1Verge Internet’s possession. 
 Each of the Grantors hereby agrees and authorizes 1Verge
Internet to complete, execute and submit to the relevant company registrar any and all Transfer Agreements and the Ancillary Documents to give effect to the transfer of all or any part of the Equity Interests upon an exercise of the Option by 1Verge
Internet at its sole discretion where necessary and in accordance with this Agreement. 
  

	3.2	Board Resolution 

 Notwithstanding Section 3.1
above, concurrently with the execution and delivery of this Agreement, and from time to time upon the request of 1Verge Internet, each of Grantors shall execute and deliver one or more resolutions of the board of directors and/or shareholders of
Jiaheyi, approving the following: 
  

	 	3.2.1	The transfer by the Grantor of all or part of the Equity Interests held by such Grantor to 1Verge Internet or its designated party; and 

 

	 	3.2.2	any other matters as 1Verge Internet may reasonably request. 

 Each Resolution is to be kept in 1Verge Internet’s possession. 

  
  

					
	Amended and Restated Equity Option Agreement	  	-4-	  	

  
  

  
 SECTION 4: REPRESENTATIONS
AND WARRANTIES 
  

	4.1	Representations and Warranties 

 Each of Grantors
represents and warrants to 1Verge Internet that: 
  

	 	4.1.1	he/she has the full power and authority to enter into, and perform under, this Agreement; 

 

	 	4.1.2	his/her signing of this Agreement or fulfilling of any its obligations hereunder does not violate any laws, regulations and contracts to which he/she is bound, or require any
government authorization or approval; 

  

	 	4.1.3	there is no lawsuit, arbitration or other legal or government procedures pending which, based on his/her knowledge, shall materially and adversely affect this Agreement and the
performance thereof; 

  

	 	4.14	he/she has disclosed to 1Verge Internet all documents issued by any government department that might cause a material adverse effect on the performance of its obligations under
this Agreement; 

  

	 	4.1.5	he/she has not been declared bankrupt by a court of competent jurisdiction; 

  

	 	4.1.6	save as disclosed to 1Verge Internet, his/her Equity Interests is free and clear from all liens, encumbrances and third party rights; 

 

	 	4.1.7	he/she will not transfer, donate, pledge, or otherwise dispose of his/her Equity Interests in any way unless otherwise agreed by 1Verge Internet; 

 

	 	4.1.8	the Option granted to 1Verge Internet by him/her shall be exclusive, and he/she shall in no event grant the Option or any similar rights to a third party by any means whatsoever;
and 

  

	 	4.1.9	QIN Qiong further represents and warrants to 1Verge Internet that she owns 80% of the Equity Interests of Jiaheyi, and LIU Dele further represents and warrants to 1Verge Internet
that he owns 20% of the Equity Interests of Jiaheyi. The parties hereby agree that the representations and warranties set forth in Sections 4 (except for Section 4.1.9) shall be deemed to be repeated as of each Closing Date as if such
representation and warranty were made on and as of such Closing Date. 

  

	4.2	Covenants and Undertakings 

 Each of Grantors
covenants and undertakes that: 
  

	 	4.2.1	he/she will complete all such formalities as are necessary to make 1Verge Internet or its designated party a proper and registered shareholder of Jiaheyi. Such formalities
include, but are not limited to, assisting 1Verge Internet with the obtaining of necessary approvals of the equity transfer from relevant government authorities (if any), the submission of the Transfer Agreement(s) to the relevant administration for
industry and commerce for the purpose of amending the articles of association, changing the shareholder register and undertaking any other changes. 

  
  

					
	Amended and Restated Equity Option Agreement	  	-5-	  	

  
  

  

	 	4.2.2	he/she will not amend the articles of association, increase or decrease the registered capital, sell, transfer, mortgage, create or allow any encumbrance or otherwise dispose of
the assets, business, revenues or other beneficial interests, incur or assume any indebtedness, or enter into any material contracts, except in the ordinary course of business (for the purpose of this paragraph, any contract with a value exceeding
RMB 100,000 shall be deemed to be a material contract). 

 SECTION 5: TAXES 

Any taxes and duties that might arise from the execution and performance of this Agreement, including any taxes and expenses incurred by and applicable to any of
the Grantors as a result of the exercise of the Option(s) by 1Verge Internet or its designated party, or the acquisition of the Equity Interests from the Grantor(s), will be borne by 1Verge Internet. 

SECTION 6: GOVERNING LAW AND DISPUTE SETTLEMENT 
  

	6.1	Governing Law 

 The execution, validity, performance
and interpretation of this Agreement shall be governed by and construed in accordance with the laws of the PRC. 
  

	6.2	Friendly Consultation 

 If a dispute arises in
connection with the interpretation or performance of this Agreement, the parties shall attempt to resolve such dispute through friendly consultations between them or mediation by a neutral third party. 

If the dispute cannot be resolved in the aforesaid manner within thirty (30) days after the commencement of such discussions, either party may
submit the dispute to arbitration. 

  
  

					
	Amended and Restated Equity Option Agreement	  	-6-	  	

  
  

  

	6.3	Arbitration 

 Any dispute arising in connection with
this Agreement shall be submitted to the China International Economic and Trade Arbitration Commission (“CIETAC”) for arbitration. The arbitration shall follow the then current rules of CIETAC, and the arbitration proceedings shall
be conducted in Chinese and shall take place in Beijing. The arbitration award shall be final and binding upon the parties. This article shall not be affected by the termination or elimination of this Agreement. 

 

	6.4	Matters not in Dispute 

 In case of any disputes
arising out of the interpretation and performance of this Agreement or any pending arbitration of such dispute, each party shall continue to perform their obligations under this Agreement, except for the matters in dispute. 

SECTION 7: CONFIDENTIALITY 
  

	7.1	Confidential Information 

 The contents of this
Agreement and the annexes hereof shall be kept confidential. No party shall disclose any such information to any third party (except for the purpose described in Section 2.2 and by prior written agreement among the parties). Each party’s
obligations under this clause shall survive after the termination of this Agreement. 
  

	7.2	Exceptions 

 If a disclosure is explicitly required
by law, any courts, arbitration tribunals, or administrative authorities, such a disclosure by any party shall not be deemed a violation of Section 7.1 above. 
 SECTION 8: MISCELLANEOUS 
  

	8.1	Entire Agreement 

  

	 	8.1.1	This Agreement constitutes the entire agreement and understanding among the parties in respect of the subject matter hereof and supersedes all prior discussions, negotiations and
agreements among them. This Agreement amends and restates all Previous Option Agreements. In the event of any discrepancy between this Agreement and any Previous Option Agreement, this Agreement shall prevail to the extent of the discrepant
provisions. This Agreement shall only be amended by a written instrument signed by all the parties. 

  
  

					
	Amended and Restated Equity Option Agreement	  	-7-	  	

  
  

  

	 	8.1.2	The appendices attached hereto shall constitute an integral part of this Agreement and shall have the same legal effect as this Agreement. 

 

	8.2	Notices 

  

	 	8.2.1	Unless otherwise designate by the other Party, any notices or other correspondences among the parties in connection with the performance of this Agreement shall be delivered in
person, by express mail, e-mail, facsimile or registered mail to the following correspondence addresses and fax numbers: 

  

							
		 	1Verge INTERNET TECHNOLOGY (BEIJING) CO., LTD.
		 	Address	  	:	  	Section D, 5/F, SinoSteel Plaza, No 8, Haidian Street, Haidian District, Beijing, China
		 	Fax	  		  	    :    861059708818
		 	Tele	  		  	    :    861058851881
		 	Addressee	  	:	  	Victor Wing Cheung Koo
		
		 	QIN Qiong
		 	Address	  	:	  	Room 1602, Tower 3, Palm Tree International Apartment, 8 South Chaoyang Park Road, Beijing 100026, China
		 	Fax	  		  	    :    861059708818
		 	Tele	  		  	    :    861058851881
		 	Addressee	  	:	  	QIN Qiong
		
		 	LIU Dele
		 	Address	  	:	  	Room 1701, Tower D, Sunz Garden, 98 Jianguo Road, Chaoyang District, Beijing 100022, China
		 	Fax	  		  	    :    861059708818
		 	Tele	  		  	    :    861058851881
		 	Addressee	  	:	  	Liu Dele

  

	 	8.2.2	Notices and correspondences shall be deemed to have been effectively delivered: 

  

	 	8.2.2.1	at the exact time displayed in the corresponding transmission record, if delivered by facsimile, unless such facsimile is sent after 5:00 pm or on a non-business day in the place
where it is received, in which case the date of receipt shall be deemed to be the following business day; 

  

	 	8.2.2.2	on the date that the receiving Party signs for the document, if delivered in person (including express mail); 

 

	 	8.2.2.3	 on the fifteenth (15th) day after the date shown on the registered mail receipt, if sent by registered mail; 

  
  

					
	Amended and Restated Equity Option Agreement	  	-8-	  	

  
  

  

	 	8.2.2.4	on the successful printing by the sender of a transmission report evidencing the delivery of the relevant e-mail, if sent by e-mail. 

 

	8.3	Binding Effect 

 This Agreement, upon being signed by
the parties or their duly authorized representatives, shall be binding on the parties and their successors and assigns. 
  

	8.4	Language and Counterparts 

 This Agreement shall be
executed in three (3) originals in English, with one (1) original for 1Verge Internet, one (1) original each for Grantors. 
  

	8.5	Days and Business Day 

 A reference to a day herein
is to a calendar day. A reference to a business day herein is to a day on which commercial banks are open for business in the PRC. 
  

	8.6	Headings 

 The headings contained herein are inserted
for reference purposes only and shall not affect the meaning or interpretation of any part of this Agreement. 
  

	8.7	Singular and Plural 

 Where appropriate, the plural
includes the singular and vice versa. 
  

	8.8	Unspecified Matter 

 Any matter not specified in this
Agreement shall be handled through mutual discussions among the parties and stipulated in separate documents with binding legal effect, or resolved in accordance with PRC laws. 

 

	8.9	Survival of Representations, Warranties, Covenants and Obligations 

 The respective representations, warranties, covenants and obligations of the parties, as set forth in this Agreement or made by or on behalf of them, respectively, pursuant to this Agreement, shall remain in full
force and effect, regardless of any investigation (or any statement as to the results thereof) made by or on behalf of any party, and shall survive the transfer and payment for the Equity Interests. 

[The space below is intentionally left blank.] 

  
  

					
	Amended and Restated Equity Option Agreement	  	-9-	  	

  
  

  
 IN WITNESS WHEREOF, the parties
hereto have caused this Agreement to be duly executed on their behalf by a duly authorized representative as of the date first written above. 
  

					
	1VERGE INTERNET TECHNOLOGY (BEIJING) CO., LTD.
	(Company Seal)

			
		
	By:	 	 /s/ Victor Wing Cheung Koo

	Authorized Representative: Victor Wing Cheung Koo
	
	GRANTOR: QIN QIONG
		
	By:	 	 /s/ Qin Qiong

	
	GRANTOR: LIU DELE
		
	By:	 	 /s/ Liu Dele

  
  

					
	Amended and Restated Equity Option Agreement	  	-10-Amended and Restated Loan Agreement, dated as of August 16, 2010

 Exhibit 10.17 
  

 
 AMENDED AND RESTATED 

LOAN AGREEMENT 
 This Amended and Restated
Loan Agreement (this “Agreement”) was entered in Beijing, the People’s Republic of China (“PRC”, excluding the Hong Kong Special Administrative Region, the Macao Special Administrative Region and Taiwan, for
purposes of this agreement) and dated August 16, 2010 
 by and among the following parties: 

 

	(1)	1VERGE INTERNET TECHNOLOGY (BEIJING) CO., LTD. (the “Lender”) 

 Registered Address: Sections A and C, 5/F, SinoSteel Plaza, No. 8, Haidian Street, Haidian District, Beijing, PRC. 
 Legal Representative: Victor Wing Cheung Koo 
 and 

 

	(2)	QIN Qiong and LIU Dele (each a “Borrower” and jointly the “Borrowers”) 

 WHEREAS: 
  

	A.	QIN Qiong currently holds 80% equity interest (amounting to RMB 16,000,000) in 1Verge Information Technology (Beijing) Co., Ltd. (“Beijing 1Verge Infotech “) and
LIU Dele holds 20% equity interest (amounting to RMB 4,000,000) in Beijing 1Verge Infotech. 

  

	B.	In order to contribute the initial registered capital of Beijing 1Verge Infotech of RMB 1,000,000 and the subsequent increased registered capital in an aggregate amount of RMB
19,000,000, the Borrowers had requested from the Lender financial support in an aggregate amount of RMB 20,000,000. The Lender had agreed to provide such financial support and concluded with the Borrowers loan agreements in February 2006 and
November 2007, respectively (“Previous Loan Agreements”). 

  

	C.	Both the Lender and the Borrowers believe it in the best interest of the parties and Beijing 1Verge Infotech to amend and restate the Previous Loan Agreements to clarify and
streamline the rights and obligations of the Borrower and the Lender under the Previous Loan Agreements. 

 THEREFORE, the Parties,
through friendly negotiation based on equal and mutual benefit, agree as follows: 
  

	1A.	EFFECTIVE DATE 

 This Agreement shall be effective
upon its being signed by the parties hereunder. Notwithstanding the foregoing, the Lender and the Borrowers confirm that the Loans were duly and fully extended by the Lender prior to the execution of this Agreement. 

  
  

					
	Amended and Restated Loan Agreement	  	-1-	  	

  
  

  

	1.	Purpose and Sum of the Loan 

  

	 	1.1	Subject to the terms and conditions set forth in this Agreement, Lender has agreed to lend to QIN Qiong in the principal amount of up to RMB 16,000,000 and lend to LIU Dele in
the principal amount of up to RMB4,000,000 (each loan principal drawn by the Borrower referred to as a “Loan”, and collectively the “Loans”), both paid in RMB. Such Loans shall be interest-free throughout the term
of the Loans. 

  

	 	1.2	Subject to the conditions precedent set forth below, Lender has transferred in installments the balance of the principal amount a Borrower is entitled to under this Agreement
within 7 days of receipt by Lender of a drawdown request delivered by such Borrower. No principal shall be disbursed unless a drawdown request in writing is delivered within 180 days of the execution of this Agreement, Borrower shall confirm in
writing the receipt of the payment immediately upon the Borrower’s receipt of the payment. 

  

	2.	Loan Terms 

  

	 	2.1	The term for such Loans will be ten (10) years, calculated from the date when the Borrowers actually draw each of the Loans. The term under this Agreement shall be
automatically extended for another ten years except the written notice to the opposite is given by the Lender three months prior to the expiration of this Agreement. 

 

	 	2.2	The Borrowers hereby jointly agree and warrant that such loan provided by the Lender shall be used only for the investment in the Beijing 1Verge Infotech. Without the
Lender’s prior written consent, the Borrowers shall not transfer or pledge its equity interest hereunder to any other third party. 

  

	 	2.3	The Lender and the Borrower jointly agree and confirm that the Borrowers shall not repay the Loans in advance except for Lender’s requirement or the expiration of this
Agreement. Each Borrower shall repay the Loans only in the following way and amount: the Borrower shall repay the Loans only by using all the funds obtained by such Borrower from transferring all of the Borrower’s equity in Beijing 1Verge
Infotech to Lender or to any other third party designated by the Lender. In case the funds received by such borrower from transferring the aforesaid equity is subject to any tax or administrative expenses, the borrower shall only be obliged to repay
the net portion of such funds (after deducting any applicable tax and expenses) to the Lender. When all of such Borrower’s equity in Beijing 1Verge Infotech is transferred as stipulated above and if all the fund thereof is repaid to the Lender
by the Borrower, all the outstanding Loan(s) hereunder shall be regarded as repaid. 

  
  

					
	Amended and Restated Loan Agreement	  	-2-	  	

  
  

  

	 	2.4	The Lender and the Borrowers agree and confirm that each Borrower shall immediately repay the Loans in advance in case any one of the following occurs: 

 

	 	2.4.1	A Borrower dies or becomes a person with no or limited capacity for civil rights; 

  

	 	2.4.2	Victor Wing Cheung Koo (the current president of Lender) quits or is dismissed from the Lender or the Lender’s affiliated corporations; 

 

	 	2.4.3	The Borrower commits crime or is involved in crime; 

  

	 	2.4.4	Any third party claims debt of the Borrower exceeding RMB1,000,000 (RMB one million) which the Borrower is not able to repay; 

 

	 	2.4.5	There are no legal restrictions for foreign investors to directly invest in the value-added telecommunication business or online audiovisual streaming business under PRC law; or

  

	 	2.4.6	In the event that the Lender issues a written notice to the Borrower for repayment of the Loans. 

 

	3.	Conditions Precedent to the Disbursment of the Loans 

  

	 	3.1	Lender shall not be obliged to make any disbursement of the Loans unless all of the following conditions have been satisfied or written waiver to all the conditions that have not
been satisfied has been obtained: 

  

	 	3.1.1	The Borrower has delivered the written drawdown request pursuant to Section 1.2 of this Agreement and the drawdown amount requested in the request does not exceed the
available balance. 

  

	 	3.1.2	All the representations and warranties made by the Borrowers are correct, accurate, complete and not misleading. 

 

	 	3.1.3	The Borrowers are not in breach of the covenants and undertakings made by such Borrower in Section 5 hereof. 

  
  

					
	Amended and Restated Loan Agreement	  	-3-	  	

  
  

  

	 	3.1.4	Simultaneously with the execution of this Agreement, the parties have executed an Amended and Restated Equity Option Agreement (“Option Agreement”), pursuant to
which the Borrowers grant to the Lender or its designated person (legal or natural) an exclusive option to purchase all of the Borrowers’ equity interest in Beijing 1Verge Infotech, to the extent permitted under PRC laws.

  

	 	3.1.5	Simultaneously with the execution of this Agreement, the parties have executed an Amended and Restated Equity Interest Pledge Agreement (“Pledge Agreement”),
pursuant to which the Borrowers have pledged all of their equity interest in Beijing 1Verge Infotech to the Lender, to the extent permitted under PRC laws. 

 

	4.	Representations and Warranties 

  

	 	4.1	Each of the Borrowers makes the following representations and warranties to the Lender, and confirm that the Lender execute and perform this Agreement in reliance of such
representations and warranties: 

  

	 	4.1.1	The Borrower has the full capacity for civil rights and has the power to enter into this Agreement; 

 

	 	4.1.2	The execution of this Agreement of the Borrower will not violate any law or binding obligations; 

 

	 	4.1.3	This Agreement shall constitute a binding obligation of the Borrower, enforceable against him/her in accordance with its terms upon its execution; 

 

	 	4.1.4	The Borrower neither commits criminal behaviors nor is involved in criminal activity; 

 

	 	4.1.5	Except for the option under the Option Agreement and the pledge under the Pledge Agreement, without the prior consent of the Lender, the Borrower shall not create any pledge over
part or whole of the Borrower’s shareholder’s right in Beijing 1Verge Infotech or any priority for any third party with the beneficiary neither the Lender nor its subsidiaries or affiliates; 

 

	 	4.2	The Lender makes the following representations and warranties to the Borrowers: 

  

	 	4.2.1	The Lender is a company registered and validly existing under the laws of PRC; 

  
  

					
	Amended and Restated Loan Agreement	  	-4-	  	

  
  

  

	 	4.2.2	The execution and performance of this Agreement by the Lender is in compliance with the power of the Lender. The Lender has taken proper measures and has gained authorizations
and approvals for the execution and performance of this Agreement from the third party and governmental departments in accordance with the limitations of the laws and contracts which are binding or bear influences over the Lender;

  

	 	4.2.3	This Agreement shall constitute the legal, valid and binding obligations of the Lender, which is enforceable against the Lender in accordance with its terms upon its execution.

  

	5.	Covenants and Undertakings of Borrowers 

  

	 	5.1	Each Borrower, as a shareholder of Beijing 1Verge Infotech hereby undertakes to, and jointly causes Beijing 1Verge Infotech to observe the following terms with all efforts during
the term of this Agreement: 

  

	 	5.1.1	It shall not modify in any way its articles of association or alter its shareholding structure without the prior written consent of the Lender; 

 

	 	5.1.2	It shall not transfer or dispose of any material asset, or create any other security interest neither for the Lender nor for its subsidiaries / affiliates over the same without
the prior written consent of the Lender; 

  

	 	5.1.3	It shall not provide any warranty or assume any debt for any third party which is beyond its normal daily business scope without the prior written consent of the Lender;

  

	 	5.1.4	It shall not enter into any material contracts without the prior written consent of the Lender, except those entered into in the ordinary course of business (for the purpose of
this paragraph, any contract with a value exceeding RMB 100,000 shall be deemed to be a material contract); 

  

	 	5.1.5	It shall not extend any loan or credit to any party without the prior written consent of the Lender; 

 

	 	5.1.6	It shall not merge with or invest in any third party without the prior written consent of the Lender; 

 

	 	5.1.7	It shall not declare in any way any bonus or dividends for its shareholders without the prior written consent of the Lender; 

  
  

					
	Amended and Restated Loan Agreement	  	-5-	  	

  
  

  

	 	5.2	Each Borrower further commits to the Lender, within the term of this Agreement, as follows: 

 

	 	5.2.1	It shall take all the measures to guarantee and maintain its identification and status as a shareholder of Beijing 1Verge Infotech; 

 

	 	5.2.2	it shall not transfer or dispose of any of its equity interest or other rights or powers pertinent to its equity interest in Beijing 1Verge Infotech; 

 

	 	5.2.3	it shall procure that the shareholders’ meeting of Beijing 1Verge Infotech shall not pass any decision about its merger with or investment in any third party without the
prior written consent of the Lender; 

  

	 	5.2.4	it shall not carry out any action bearing material influences on the assets, business, obligations or liabilities of Beijing 1Verge Infotech without prior written consent of the
Lender; 

  

	 	5.2.5	it shall immediately and unconditionally transfer all or part of its equity interest in Beijing 1Verge Infotech to Lender or any third party designated by the Lender in
accordance with PRC laws and, where applicable, procure all the other shareholders of Beijing 1Verge Infotech waive any prior right over purchasing such shares, as required by the Lender; 

 

	 	5.2.6	it shall strictly observe its commitments and guarantees under this Agreement and other related agreements. 

 

	 	5.3	Each Borrower hereby covenants and undertakes that upon the signing of this Agreement, the Borrower shall: 

 

	 	5.3.1	pledge all equity interest in Beijing 1Verge Infotech held by the Borrower for the benefit of Lender to guarantee the due repayment of the Loans hereunder, the payment of the
service fees under the Amended and Restated Exclusive Technical and Consulting Services Agreement and the license fees under the Amended and Restated Domain Name Licensing Agreement and the Amended and Restated Trademark Licensing Agreement, and
enter into the Amended and Restated Equity Interest Pledge Agreement with Lender; 

  

	 	5.3.2	appoint and authorize individuals designated by the Lender to exercise the rights and powers pertinent to the equity interest in Beijing 1Verge Infotech held by the Borrowers
simultaneously with the execution of this Agreement and sign and deliver a power of attorney; 

  
  

					
	Amended and Restated Loan Agreement	  	-6-	  	

  
  

  

	 	5.3.3	confirm and ratify in the capacity of a shareholder of Beijing 1Verge Infotech that the Borrowers are bound by the Amended and Restated Business Operation Agreement entered into
by the Lender, Beijing1Verge Infotech and the Borrowers on August 16, 2010; 

  

	 	5.3.4	confirm and agree that the Lender shall have the right to acquire or to designate any third party of its choice to acquire from time to time part or all of the equity interest of
Beijing 1Verge Infotech from the Borrowers at an agreed price and enter into the Option Agreement. 

  

	6.	Default 

 If a Borrower fails to
perform its repayment obligation pursuant to this Agreement, an overdue interest at the rate of 0.01% per day upon the outstanding amount of the Loans shall be payable to the Lender. 

 

	7.	Confidentiality 

  

	 	7.1	The Parties acknowledge and confirm to take all possible measures to keep confidential all the confidential materials and information (the “Confidential
Information”) they get to know by this Agreement. The Parties shall not disclose, provide or transfer such Confidential Information to any third party without the prior written consent of the other Party. In case of the termination of this
Agreement, the receiving party of the Confidential Information shall return or destroy all the files, materials or software as required by the disclosing party, and delete any of the Confidential Information from any memory equipments and
discontinue using such Confidential Information. 

  

	 	7.2	The parties agree that this Section 7 shall survive the modification and termination of this Agreement. 

 

	8.	Notices 

 Unless a written notice of
change of address is issued, all correspondence relating to this Agreement shall be delivered in person, or by registered or prepaid mail, or by recognized express services or facsimile to the addresses appointed by the other party from time to
time. 
  

	9.	Governing Law and Dispute Settlement 

  

	 	9.1	The execution, validity, performance and interpretation of this Agreement shall be governed by and construed in accordance with the laws of the PRC. 

 

	 	9.2	The parties shall strive to settle any dispute arising from the interpretation or performance through friendly consultation. In case no settlement can be reached through
consultation, either party may submit such matter to China International Economic and Trade Arbitration Commission (“CIETAC”) for arbitration. The arbitration shall follow the then current rules of CIETAC, and the arbitration
proceedings shall be conducted in Chinese and shall take place in Beijing. The arbitration award shall be final and binding upon the parties. This article shall not be affected by the termination or elimination of this Agreement.

  
  

					
	Amended and Restated Loan Agreement	  	-7-	  	

  
  

  

	 	9.3	In case of any disputes arising out of the interpretation and performance of this Agreement or any pending arbitration of such dispute, each party shall continue to perform their
obligations under this Agreement, except for the matters in dispute. 

  

	10.	Force Majeure 

  

	 	10.1	Force Majeure refers to any accident which is beyond the party’s control and is inevitable with the reasonable care of the other party who shall be influenced, including but
not limited to governmental activity, natural force, fire, explosion, storm, flood, earthquake, tide, lightening or war. However, the credit, capital or shortage of financing shall not be deemed as the matters beyond one party’s reasonable
control. The Party influenced by the Force Majeure and seeking for exemption hereunder shall notify the other party as soon as possible and inform the other party of the measures to take in order to accomplish the performance of this Agreement.

  

	 	10.2	In case the performance of this Agreement is delayed or cumbered by the above-referenced Force Majeure, the party who is influenced by the Force Majeure shall not bear any
liability within the scope of delay and cumbrance, and shall take all the proper measures to reduce or eliminate the influence of Force Majeure, and shall make efforts to renew the performance of its obligations hereunder which has been delayed or
cumbered by the Force Majeure. Each party shall try its best to restore the performance of this Agreement once the Force Majeure is eliminated. 

  

	11.	Miscellaneous 

  

	 	11.1	Any modification, termination or waiver of this Agreement shall not take effect without the written consent of each party. 

 

	 	11.2	Any appendix attached hereto shall be of the same effect as this Agreement. 

  

	 	11.3	No Borrower shall transfer its rights and obligations hereunder to any third party without the prior written consent of the Lender. 

  
  

					
	Amended and Restated Loan Agreement	  	-8-	  	

  
  

  

	 	11.4	In case any terms and stipulations in this Agreement is regarded as illegal or cannot be performed in accordance with the applicable law, it shall be deemed to be deleted from
this Agreement and lose its effect and this Agreement shall remain its effect and be treated as without it from the very beginning. Each party shall replace the deleted stipulations with those lawful and effective ones, which are acceptable to the
Lender, through mutual negotiation. 

  

	 	11.5	This Agreement amends and restates all Previous Loan Agreements. In the event of any discrepancy between this Agreement and any Previous Loan Agreement, this Agreement shall
prevail to the extent of the discrepant provisions. 

 [The space below is intentionally left blank.] 

  
  

					
	Amended and Restated Loan Agreement	  	-9-	  	

  
  

  
 IN WITNESS WHEREOF, the parties
hereto have caused this Agreement to be duly executed on their behalf by a duly authorized representative as of the date first written above. 
 1VERGE
INTERNET TECHNOLOGY (BEIJING) CO., LTD. 

			
	(Company Seal)
		
	By:	 	 /s/ Victor Wing Cheung Koo

	Authorized Representative: Victor Wing Cheung Koo
	
	BORROWER: QIN QIONG
		
	By:	 	 /s/ Qin Qiong

	
	BORROWER: LIU DELE
		
	By:	 	 /s/ Liu Dele

  
  

					
	Amended and Restated Loan Agreement	  	-10-

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