Document:

EX-10.1

 Exhibit 10.1 
 EMPLOYMENT AGREEMENT 
 EMPLOYMENT AGREEMENT, effective as of June 1, 2013, by
and between Sohu.com Inc., a Delaware corporation, and Xin Wang (Belinda), an individual (the “Employee”). 
 1.
Definitions. Capitalized terms used herein and not otherwise defined in the text below will have the meanings ascribed thereto on Annex 1. 
 2. Employment; Duties. 
 (a) The Company agrees to employ the Employee in
the capacity and with such responsibilities as are generally set forth on Annex 2. 
 (b) The Employee hereby agrees to
devote her full time and best efforts in such capacities as are set forth on Annex 2 on the terms and conditions set forth herein. Notwithstanding the foregoing, the Employee may engage in other activities, such as activities involving
professional, charitable, educational, religious and similar types of organizations, provided the Employee complies with the Employee Non-competition, Non-solicitation, Confidential Information and Work Product Agreement effective as of June 1,
2013 and attached hereto as Annex 3 (the “Employee Obligations Agreement”) and such other activities do not interfere with or prohibit the performance of the Employee’s duties under this Agreement, or conflict in any material
way with the business of the Company or of its subsidiaries and affiliates. The provisions of the Employee Obligations Agreement between the Company and the Employee that was in effect prior to June 1, 2013 (the “Prior Employee Obligations
Agreement”) will continue in full force and effect with respect to all matters arising with respect to periods through May 31, 2013. The Employee Obligations Agreement will be effective as of June 1, 2013 and will be in full force and
effect on and after such date. The Company hereby agrees that the continuation of the Employee’s status as an independent director of AutoNavi Holdings Limited and SinoMedia Holding Limited, will not be deemed to be a violation of this clause,
provided that (i) the businesses of such companies do not subsequently change such that they are in competition with the business of the Company and (ii) the Employee’s obligations to such companies do not conflict with her
obligations to the Company. 
 (c) The Employee will use best efforts during the Term to ensure that the Company’s business
and those of its subsidiaries and affiliates are conducted in accordance with all applicable laws and regulations of all jurisdictions in which such businesses are conducted. 
 3. Compensation. 
 (a) Base Annual Income. During the Term, the
Company will pay the Employee an annual base salary as set forth on Annex 2, payable monthly pursuant to the Company’s normal payroll practices. 
 (b) Discretionary Bonus. During the Term, the Company, in its sole discretion, may award to the Employee an annual bonus based on the Employee’s performance and other factors deemed relevant
by the Company’s Board of Directors. 

  
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 (c) Stock Options and Other Equity Incentives. The Employee will be eligible to
participate in any stock option, or other equity incentive programs available to officers or employees of the Company. 
 (d)
Reimbursement of Expenses. The Company will reimburse the Employee for reasonable expenses incurred by the Employee in the course of, and necessary in connection with, the performance by the Employee of her duties to the Company, provided
that such expenses are substantiated in accordance with the Company’s policies. 
 4. Other Employee Benefits.

 (a) Vacation; Sick Leave. The Employee will be entitled to such number of weeks of paid vacation each year as are set
forth on Annex 2, the taking of which must be coordinated with the Employee’s supervisor in accordance with the Company’s standard vacation policy. Unless otherwise approved by the Company’s Board of Directors, vacation that is
not used in a particular year may only be carried forward to subsequent years in accordance with the Company’s policies in effect from time to time. The Employee will be eligible for sick leave in accordance with the Company’s policies in
effect from time to time. 
 (b) Healthcare Plan. The Company will arrange for membership in the Company’s group
healthcare plan for the Employee, the Employee’s spouse and the Employee’s child under 18 years old, in accordance with the Company’s standard policies from time to time with respect to health insurance and in accordance with the
rules established for individual participation in such plan and under applicable law. 
 (c) Life and Disability
Insurance. The Company will provide term life and disability insurance payable to the Employee, in each case in an amount up to a maximum of three times the Employee’s annual base salary in effect from time to time, provided however, that
such amount will be reduced by the amount of any life insurance or death or disability benefit coverage, as applicable, that is provided to the Employee under any other benefit plans or arrangements of the Company. Such policies will be in
accordance with the Company’s standard policies from time to time with respect to such insurance and the rules established for individual participation in such plans and under applicable law. 

(d) Other Benefits. Pursuant to the Company’s policies in effect from time to time and the applicable plan rules, the
Employee will be eligible to participate in other employee benefit plans of general application, which may include, without limitation, housing allowance or reimbursement, tuition fees for the Employee’s children at an international school, and
which, in any event, shall include the benefits at the levels set forth on Annex 2. 
 5. Certain Representations,
Warranties and Covenants of the Employee. 
 (a) Related Company Positions. The Employee agrees that the Employee and
members of the Employee’s immediate family will not have any financial interest directly or indirectly (including through any entity in which the Employee or any member of the Employee’s immediate family has a position or financial
interest) in any transactions with the Company or any subsidiaries or affiliates thereof unless all such transactions, prior to being entered into, have been disclosed to the Board of Directors and approved by a majority of the independent members
of the Board of Directors and comply with all other Company policies and applicable law as may be in effect from time to time. The Employee also agrees she will inform the Board of Directors of the Company of any transactions involving the Company
or any of its subsidiaries or affiliates in which senior officers, including but not limited to the Employee, or their immediate family members have a financial interest. 

  
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 (b) Discounts, Rebates or Commissions. Unless expressly permitted by written policies
and procedures of the Company in effect from time to time that may be applicable to the Employee, neither the Employee nor any immediate family member will be entitled to receive or obtain directly or indirectly any discount, rebate or commission in
respect of any sale or purchase of goods or services effected or other business transacted (whether or not by the Employee) by or on behalf of the Company or any of its subsidiaries or affiliates, and if the Employee or any immediate family member
(or any firm or company in which the Employee or any immediate family member is interested) obtains any such discount, rebate or commission, the Employee will pay to the Company an amount equal to the amount so received (or the proportionate amount
received by any such firm or company to the extent of the Employee’s or family member’s interest therein). 
 6.
Term; Termination. 
 (a) Unless sooner terminated pursuant to the provisions of this Section 6, the term of this
Agreement (the “Term”) will commence on the date hereof and end on May 31, 2016. 
 (b) Voluntary Termination
by the Employee. Notwithstanding anything herein to the contrary, the Employee may voluntarily Terminate this Agreement by providing the Company with ninety (90) days’ advance written notice (“Voluntary Termination”), in
which case, the Employee will not be entitled to receive payment of any severance benefits or other amounts by reason of the Termination other than accrued salary and vacation through the date of the Termination. The Employee’s right to all
other benefits will terminate as of the date of Termination, other than any continuation required by applicable law. Without limiting the foregoing, if, in connection with a Change in Control, the surviving entity or successor to Sohu’s
business offers the Employee employment on substantially equivalent terms to those set forth in this Agreement and such offer is not accepted by the Employee, the refusal by the Employee to accept such offer and the subsequent termination of the
Employee’s employment by the Company shall be deemed to be a voluntary termination of employment by the Employee and shall not be treated as a termination by the Company without Cause. 

(c) Termination by the Company for Cause. Notwithstanding anything herein to the contrary, the Company may Terminate this
Agreement for Cause by written notice to the Employee, effective immediately upon the delivery of such notice. In such case, the Employee will not be entitled to receive payment of any severance benefits or other amounts by reason of the Termination
other than accrued salary and vacation through the date of the Termination. The Employee’s right to all other benefits will terminate, other than any continuation required by applicable law. 

  
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 (d) Termination by the Employee with Good Reason or Termination by the Company without
Cause. Notwithstanding anything herein to the contrary, the Employee may Terminate this Agreement for Good Reason, and the Company may Terminate this Agreement without Cause, in either case upon thirty (30) days’ advance written notice
by the party Terminating this Agreement to the other party and the Termination shall be effective as of the expiration of such thirty (30) day period. If the Employee Terminates with Good Reason or the Company Terminates without Cause, the
Employee will be entitled to continue to receive payment of severance benefits equal to the Employee’s monthly base salary in effect on the date of Termination for the shorter of (i) six (6) months and (ii) the remainder of the
Term of this Agreement (the “Severance Period”), provided that the Employee complies with the Employee Obligations Agreement during the Severance Period and executes a release agreement in the form requested by the Company at the time of
such Termination that releases the Company from any and all claims arising from or related to the employment relationship and/or such Termination. Such payments will be made ratably over the Severance Period according to the Company’s standard
payroll schedule. The Employee will also receive payment of the bonus for the remainder of the year of the Termination, but only to the extent that the bonus would have been earned had the Employee continued in employment through the end of such
year, as determined in good faith by the Company’s CEO, Board of Directors or its Compensation Committee based on the specific corporate and individual performance targets established for such fiscal year, and only to the extent that bonuses
are paid for such fiscal year to other similarly situated employees. Health insurance benefits with the same coverage (i.e., medical, dental, optical and/or mental health coverage) provided to the Employee prior to the Termination and in all other
material respects comparable to those in place immediately prior to the Termination will be provided at the Company’s expense during the Severance Period. The Company will also continue to carry the Employee on its Directors and Officers
insurance policy for six (6) years following the Date of Termination at the Company’s expense with respect to insurable events which occurred during the Employee’s term as a director or officer of the Company, with such coverage being
at least comparable to that in effect immediately prior to the Termination Date; provided, however, that (i) such terms, conditions and exceptions will not be, in the aggregate, materially less favorable to the Employee than those in effect on
the Termination Date and (ii) if the aggregate annual premiums for such insurance at any time during such period exceed two hundred percent (200%) of the per annum rate of premium currently paid by the Company for such insurance, then the
Company will provide the maximum coverage that is then available at an annual premium equal to two hundred percent (200%) of such rate. 
 (e) Termination by Reason of Death or Disability. A Termination of the Employee’s employment by reason of death or Disability shall not be deemed to be a Termination by the Company (for or
without Cause) or by the Employee (for or without Good Reason). In the event that the Employee’s employment with the Company Terminates as a result of the Employee’s death or Disability, the Employee or the Employee’s estate or
representative, as applicable, will receive all accrued salary and accrued vacation as of the date of the Employee’s death or Disability and any other benefits payable under the Company’s then existing benefit plans and policies in
accordance with such plans and policies in effect on the date of death or Disability and in accordance with applicable law. In addition, the Employee or the Employee’s estate or representative, as applicable, will receive the bonus for the year
in which the death or Disability occurs to the extent that a bonus would have been earned had the Employee continued in employment through the end of such year, as determined in good faith by the Company’s CEO, Board of Directors or
Compensation Committee of the Board of Directors based on the specific corporate and individual performance targets established for such fiscal year, and only to the extent that bonuses are paid for such fiscal year to other similarly situated
employees. 

  
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 (f) Misconduct After Termination of Employment. Notwithstanding the foregoing, if the
Employee after the termination of her employment violates or fails to fully comply with the Employee Obligations Agreement, thereafter (i) the Employee shall not be entitled to any payments from the Company, (ii) any insurance or other
benefits that have continued shall terminate immediately, (iii) the Employee shall promptly reimburse to the Company all amounts that have been paid to the Employee pursuant to this Section 6; and (iv) if the Employee would not, in
the absence of such violation or failure to comply, have been entitled to severance payments from the Company equal to at least six (6) months’ base salary, the Employee shall pay an amount equal to the difference between six
(6) months’ base salary and the amount of severance pay measured by base salary reimbursed to the Company pursuant to clause (iii) of this sentence. 
 7. Equity-Based Compensation-Related Provisions. 
 (a) Termination by
the Company Without Cause after a Change in Control. If Company Terminates this Agreement without Cause within twelve (12) months following a Change in Control, the vesting and exercisability of each of the Employee’s outstanding stock
options or other equity-based incentive awards (“Awards”) will accelerate such that the Award will become fully vested and exercisable upon the effectiveness of the Termination, and any repurchase right of the Company with respect to
shares of stock issued upon exercise of the Award will completely lapse, in each case subject to paragraph (c) below (“Forfeiture of Options for Misconduct”). 
 (b) Termination other than by the Company Without Cause after a Change in Control. If the Employee’s employment with the Company Terminates for any reason, unless the Company Terminates this
Agreement without Cause within twelve (12) months following a Change in Control, the vesting and exercisability of each of the Employee’s outstanding Awards shall cease upon the effectiveness of the Termination, such that any unvested
Award shall be cancelled. 
 (c) Forfeiture of Options for Misconduct. If the Employee fails to comply with the terms of
this Agreement, the Employee Obligations Agreement, or the written policies and procedures of the Company, as the same may be amended from time to time, or acts against the specific instructions of the Board of Directors of the Company or if this
Agreement is terminated by the Company for Cause (each a “Penalty Breach”), the Employee will forfeit any Awards that have been granted to her or to which the Employee may be entitled, whether the same are then vested or not, and
the same shall thereafter not be exercisable at all, and all shares of common stock of the Company, if any, purchased by the Employee pursuant to the exercise of Awards and still then owned by the Employee may be repurchased by the Company, at its
sole discretion, at the price paid by the Employee for such shares of common stock. The terms of all outstanding option grants are hereby amended to conform with this provision. 

  
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 8. Employee Obligations Agreement. By signing this Agreement, the Employee hereby
agrees to execute and deliver to the Company the Employee Obligations Agreement, and such execution and delivery shall be a condition to the Employee’s entitlement to her rights under this Agreement. 

9. Governing Law; Resolution of Disputes. This Agreement will be governed by and construed and enforced in accordance with the
laws of the State of New York if the Employee is not a citizen of the People’s Republic of China (the “PRC”), and in accordance with the laws of the PRC if the Employee is a citizen of the PRC, in each case exclusive of such
jurisdiction’s principles of conflicts of law. If, under the applicable law, any portion of this Agreement is at any time deemed to be in conflict with any applicable statute, rule, regulation or ordinance, such portion will be deemed to be
modified or altered to conform thereto or, if that is not possible, to be omitted from this Agreement; the invalidity of any such portion will not affect the force, effect and validity of the remaining portion hereof. Each of the parties hereto
irrevocably agrees that any dispute or controversy arising out of, relating to, or concerning any interpretation, construction, performance or breach of this Agreement, shall be settled by arbitration to be held in Hong Kong under the Hong Kong
International Arbitration Centre Administered Arbitration Rules (the “Arbitration Rules”) in force when a Notice of Arbitration with respect thereto is submitted in accordance with the Arbitration Rules. There shall be one arbitrator,
selected in accordance with the Arbitration Rules. The decision of the arbitrator shall be final, conclusive and binding on the parties to the arbitration. Judgment may be entered on the arbitrator’s decision in any court having jurisdiction.
The parties to the arbitration shall each pay an equal share of the costs and expenses of such arbitration, and each party shall separately pay for its respective counsel fees and expenses; provided, however, that the prevailing party in any such
arbitration shall be entitled to recover from the non-prevailing party its reasonable costs and attorney fees. 
 10.
Notices. All notices, requests and other communications under this Agreement will be in writing (including email, facsimile or similar writing and express mail or courier delivery or in person delivery, but excluding ordinary mail delivery)
and will be given to the address stated below: 
  

	 	(a)	if to the Employee, by email or to the address or facsimile number that is on file with the Company from time to time, as may be updated by the Employee;

  
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	 	(b)	if to the Company: 

 Sohu.com
Inc. 
 Level 15, Sohu.com Internet Plaza 
 No. 1 Unit Zhongguancun East Road, Haidian District 
 Beijing 100084

 People’s Republic of China 
 Attention: Charles Zhang 
        Chairman and
Chief Executive Officer 
 fax: (86-10) 6270-2155 
 with a copy to: 
 Goulston & Storrs 

400 Atlantic Avenue 
 Boston, MA 02110 
 Attention: Timothy B. Bancroft 

fax: (617) 574-4112 
 or to
such other address or facsimile number as either party may hereafter specify for the purpose by written notice to the other party in the manner provided in this Section 10. All such notices, requests and other communications will be deemed
received: (i) if given by facsimile transmission, when transmitted to the facsimile number specified in this Section 10 if confirmation of receipt is received; (ii) if given by express mail or courier delivery , when delivered; and
(iii) if given in person, when delivered. 
 11. Miscellaneous. 

(a) Entire Agreement. This Agreement, together with the Employee Obligations Agreement, constitutes the entire understanding
between the Company and the Employee relating to the subject matter hereof on and after June 1, 2013 and supersedes and cancels all prior and contemporaneous written and oral agreements and understandings with respect to the subject matter of
this Agreement. No agreements or representations, oral or otherwise, express or implied, with respect to the subject matter hereof have been made by either party which are not set forth expressly in this Agreement. 

(b) Modification; Waiver. No provision of this Agreement may be modified, waived or discharged unless modification, waiver or
discharge is agreed to in writing signed by the Employee and such officer of the Company as may be specifically designated by its Board of Directors. No waiver by either party at any time of any breach by the other party of, or compliance with, any
condition or provision of this Agreement to be performed by such other party will be deemed a waiver of similar or dissimilar provisions or conditions at the same or at any prior or subsequent time. 

(c) Successors; Binding Agreement. This Agreement will be binding upon and will inure to the benefit of the Employee, the
Employee’s heirs, executors, administrators and beneficiaries, and the Company and its successors (whether direct or indirect, by purchase, merger, consolidation or otherwise), subject to the terms and conditions set forth herein. 

  
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 (d) Withholding Taxes. All amounts payable to the Employee under this Agreement will
be subject to applicable withholding of income, wage and other taxes to the extent required by applicable law. 
 (e)
Validity. The invalidity or unenforceability of any provision or provisions of this Agreement will not affect the validity or enforceability of any other provision of this Agreement, which will remain in full force and effect. 

(f) Language. This Agreement is written in the English language only. The English language also will be the controlling language
for all future communications between the parties hereto concerning this Agreement. 
 (g) Counterparts. This Agreement
may be signed in any number of counterparts, each of which will be deemed an original, with the same effect as if the signatures thereto and hereto were upon the same instrument. 

[SIGNATURE PAGE FOLLOWS] 

  
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 IN WITNESS WHEREOF, the parties hereto have executed this Employment Agreement as of the
year and day first above written. 
  

					
	Signature of Employee:	 	    Sohu.com Inc.
			
	  	 	    By:	 	  
	Printed name of employee:	 		 	Name: Charles Zhang
	Xin Wang (Belinda)	 		 	Title: Chief Executive Officer

  
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 Annex 1 
 Certain Definitions 
 “Cause” means: 

 

	 	(i)	willful misconduct or gross negligence by the Employee, or any willful or grossly negligent omission to perform any act, resulting in injury to the Company or any
subsidiaries or affiliates thereof; 

  

	 	(ii)	misconduct or negligence of the Employee that results in gain or personal enrichment of the Employee to the detriment of the Company or any subsidiaries or affiliates
thereof; 

  

	 	(iii)	breach of any of the Employee’s agreements with the Company, including those set forth herein and in the Employee Obligations Agreement, and including, but not
limited to, the repeated failure to perform substantially the Employee’s duties to the Company or any subsidiaries or affiliates thereof, excessive absenteeism or dishonesty; 

 

	 	(iv)	any attempt by the Employee to assign or delegate this Agreement or any of the rights, duties, responsibilities, privileges or obligations hereunder without the prior
consent of the Company (except in respect of any delegation by the Employee of her employment duties hereunder to other employees of the Company in accordance with its usual business practice); 

 

	 	(v)	the Employee’s indictment or conviction for, or confession of, a felony or any crime involving moral turpitude under the laws of the United States or any State
thereof, or under the laws of China, or Hong Kong; 

  

	 	(vi)	declaration by a court that the Employee is insane or incompetent to manage her business affairs; 

 

	 	(vii)	habitual drug or alcohol abuse which materially impairs the Employee’s ability to perform her duties; or 

 

	 	(viii)	filing of any petition or other proceeding seeking to find the Employee bankrupt or insolvent. 

 “Change in Control” means the occurrence of any of the following events: 
  

	 	(i)	any person (within the meaning of Section 13(d) or Section 14(d)(2) of the Securities Exchange Act of 1934) other than the Company, any trustee or other
fiduciary holding securities under an employee benefit plan of the Company or any corporation owned, directly or indirectly, by the stockholders of the Company in substantially the same proportion as their ownership of stock of the Company, becomes
the direct or beneficial owner of securities representing fifty percent (50%) or more of the combined voting power of the Company’s then-outstanding securities; 

  
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	 	(ii)	during any period of two (2) consecutive years after the date of this Agreement, individuals who at the beginning of such period constitute the Board of Directors
of the Company, and all new directors (other than directors designated by a person who has entered into an agreement with the Company to effect a transaction described in (i), (iii), or (iv) of this definition) whose election or nomination to
the Board was approved by a vote of at least two-thirds of the directors then in office, cease for any reason to constitute at least a majority of the members of the Board; 

 

	 	(iii)	the effective date of a merger or consolidation of the Company with any other entity, other than a merger or consolidation which would result in the voting securities
of the Company outstanding immediately prior to such merger or consolidation continuing to represent (either by remaining outstanding or by being converted into voting securities of the surviving entity) more than 50% of the combined voting power of
the voting securities of the surviving entity outstanding immediately after such merger or consolidation and with the power to elect at least a majority of the board of directors or other governing body of such surviving entity;

  

	 	(iv)	the complete liquidation of the Company or the sale or disposition by the Company of all or substantially all of the Company’s assets; or 

 

	 	(v)	there occurs any other event of a nature that would be required to be reported in response to Item 6(e) of Schedule 14A of Regulation 14A (or a response to any
similar item on any similar schedule or form) promulgated under the Exchange Act (as defined below), whether or not the Company is then subject to such reporting requirement. 

 “Company” means Sohu.com Inc and, unless the context suggests to the contrary, all of its subsidiaries and related companies. 
 “Disability” means the Employee becomes physically or mentally impaired to an extent which renders her unable to perform the essential functions of her job, with or without reasonable
accommodation, for a period of six consecutive months, or an aggregate of nine months in any two year period. 
 “Good Reason” means
the occurrence of any of the following events without the Employee’s express written consent, provided that the Employee has given notice to the Company of such event and the Company has not remedied the problem within fifteen (15) days:

  

	 	(i)	any significant change in the duties and responsibilities of the Employee inconsistent in any material and adverse respect with the Employee’s title and position
(including status, officer positions and reporting requirements), authority, duties or responsibilities as contemplated by Annex 2 to this Agreement. For the purposes of this Agreement, because of the evolving nature of the Employer’s
business, the Company’s changing of Employee’s reporting relationships and department(s) will not be considered a significant change in duties and responsibilities; 

  
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	 	(ii)	any material breach by the Company of this Agreement, including without limitation any reduction of the Employee’s base salary or the Company’s failure to pay
to the Employee any portion of the Employee’s compensation; or 

  

	 	(iii)	the failure, in the event of a Change in Control in which the Company is not the surviving entity, of the surviving entity or the successor to the Company’s
business to assume this Agreement pursuant to its terms or to offer the Employee employment on substantially equivalent terms to those set forth in this Agreement. 

 “Termination” (and any similar, capitalized use of the term, such as “Terminate”) means, according to the context, the termination of this Agreement or the Employee’s ceasing to
render employment services. 

  
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 Annex 2 
 Particular Terms of Employee’s Employment 
  

			
	Title(s):	  	Co-President and Chief Operating Officer of the Company
		
	Reporting Requirement:	  	The Employee will report to the Company’s Chief Executive Officer.
		
	Responsibilities:	  	Such duties and responsibilities as are ordinarily associated with the Employee’s title in a United States publicly-traded corporation and such other duties as may be specified
by the Board of Directors from time to time.
		
	Base Salary:	  	$437,000 per year as may be adjusted by the Board of Directors from time to time.
		
	Weeks of Paid Vacation per Year:	  	Three (3)

 Other Benefits: 

Annual allowance or reimbursement after tax of U.S. $80,000 per year. 
 Health, life and disability insurance as per company policy. 
 Bonus (80% of annual base pay will
be the Employee’s target bonus, based on the senior management bonus plan in effect from time to time) as specifically approved each year. 

  
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 Annex 3 
 FORM OF EMPLOYEE NON-COMPETITION, NON-SOLICITATION, CONFIDENTIAL INFORMATION AND WORK PRODUCT AGREEMENT 
 In consideration of my employment and the compensation paid to me by Sohu.com Inc., a Delaware corporation, or a subsidiary or other affiliate or related company thereof (Sohu.com Inc. or any such
subsidiary or related company or other affiliate referred to herein individually and collectively as “SOHU”), and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, I agree as follows:

 1. Non-Competition. During my employment with SOHU and continuing after the termination of my employment for the longer
of (i) one year after the termination of my employment with SOHU for any reason and (ii) such period of time as SOHU is paying to me any severance benefits, (the “Noncompete Period”), I will not, on my own behalf, or as owner,
manager, stockholder (other than as stockholder of less than 2% of the outstanding stock of a company that is publicly traded or listed on a stock exchange), consultant, director, officer or employee of or in any other manner connected with any
business entity, participate or be involved in any Competitor without the prior written authorization of SOHU. “Competitor” means any business of the type and character of business in which SOHU engages or proposes to engage and may
include, without limitation, an individual, company, enterprise, partnership enterprise, government office, committee, social organization or other organization that, in any event, produces, distributes or provides the same or substantially similar
kind of product or service as SOHU. On the date of this Employee Non-competition, Non-solicitation, Confidential Information and Work Product Agreement (this “Agreement”), “Competitors” include without limitation: Sina.com,
Tencent, Netease.com, iFeng, Renren, Youku Tudou, iQiyi, PC Online, SouFun, CRIC, BitAuto, Yahoo, Microsoft, Baidu, Google, Qihoo, Alibaba, Shanda, Perfect World, Giant, NetDragon, Kingsoft, The 9, Ctrip, Elong, Ebay, Dang Dang and Kong Zhong. Such
list may be updated by the Company from time to time so that it is consistent with the list of competitors disclosed in the Company’s quarterly reports on Form 10-Q or annual reports on Form 10-K filed with the U.S. Securities and Exchange
Commission. 
 2. Nonsolicitation. During the Noncompete Period, I will not, either for my own account or for the account
of any other person: (i) solicit, induce, attempt to hire, or hire any employee or contractor of SOHU or any other person who may have been employed or engaged by SOHU during the term of my employment with SOHU unless that person has not worked
with SOHU within the six months following my last day of employment with SOHU; (ii) solicit business or relationship in competition with SOHU from any of SOHU’s customers, suppliers or partners or any other entity with which SOHU does
business; (iii) assist in such hiring or solicitation by any other person or business entity or encourage any such employee to terminate her employment with SOHU; or (iv) encourage any such customer, supplier or partner or any other entity
to terminate its relationship with SOHU. 

  
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 3. Confidential Information. 

(a) While employed by SOHU and indefinitely thereafter, I will not, directly or indirectly, use any Confidential Information (as
hereinafter defined) other than pursuant to my employment by and for the benefit of SOHU, or disclose any such Confidential Information to anyone outside of SOHU or to anyone within SOHU who has not been authorized to receive such information,
except as directed in writing by an authorized representative of SOHU. 
 (b) “Confidential Information” means all
trade secrets, proprietary information, and other data and information, in any form, belonging to SOHU or any of their respective clients, customers, consultants, licensees or affiliates that is held in confidence by SOHU. Confidential Information
includes, but is not limited to computer software, the structure of SOHU’s online directories and search engines, business plans and arrangements, customer lists, marketing materials, financial information, research, and any other information
identified or treated as confidential by SOHU or any of their respective clients, customer, consultants, licensees or affiliates. Notwithstanding the foregoing, Confidential Information does not include information which SOHU has voluntarily
disclosed to the public without restriction, or which is otherwise known to the public at large. 
 4. Rights in Work
Product. 
 (a) I agree that all Work Product (as hereinafter defined) will be the sole property of SOHU. I agree that all
Work Product that constitutes original works of authorship protectable by copyright are “works made for hire,” as that term is defined in the United States Copyright Act and, therefore, the property of SOHU. I agree to waive, and hereby
waive and irrevocably and exclusively assign to SOHU, all right, title and interest I may have in or to any other Work Product and, to the extent that such rights may not be waived or assigned, I agree not to assert such rights against SOHU or its
licensees (and sublicensees), successors or assigns. 
 (b) I agree to promptly disclose all Work Product to the appropriate
individuals in SOHU as such Work Product is created in accordance with the requirements of my job and as directed by SOHU. 

(c) “Work Product” means any and all inventions, improvements, developments, concepts, ideas, expressions, processes,
prototypes, plans, drawings, designs, models, formulations, specifications, methods, techniques, shop-practices, discoveries, innovations, creations, technologies, formulas, algorithms, data, computer databases, reports, laboratory notebooks,
papers, writings, photographs, source and object codes, software programs, other works of authorship, and know-how and show-how, or parts thereof conceived, developed, or otherwise made by me alone or jointly with others (i) during the period
of my employment with SOHU or (ii) during the six month period next succeeding the termination of my employment with SOHU if the same in any way relates to the present or proposed products, programs or services of SOHU or to tasks assigned to
me during the course of my employment, whether or not patentable or subject to copyright or trademark protection, whether or not reduced to tangible form or reduced to practice, whether or not made during my regular working hours, and whether or not
made on SOHU premises. 

  
 -15-

 5. Employee’s Prior Obligations. I hereby certify I have no continuing
obligation to any previous employer or other person or entity which requires me not to disclose any information to SOHU. 
 6.
Employee’s Obligation to Cooperate. At any time during my employment with SOHU and thereafter upon the request of SOHU, I will execute all documents and perform all lawful acts that SOHU considers necessary or advisable to secure its
rights hereunder and to carry out the intent of this Agreement. Without limiting the generality of the foregoing, I agree to render to SOHU or its nominee all reasonable assistance as may be required: 

 

	 	(a)	In the prosecution or applications for letters patent, foreign and domestic, or re-issues, extensions and continuations thereof; 

 

	 	(b)	In the prosecution or defense of interferences which may be declared involving any of said applications or patents; 

 

	 	(c)	In any administrative proceeding or litigation in which SOHU may be involved relating to any Work Product; and 

 

	 	(d)	In the execution of documents and the taking of all other lawful acts which SOHU considers necessary or advisable in creating and protecting its copyright, patent,
trademark, trade secret and other proprietary rights in any Work Product. 

 The reasonable out-of-pocket expenses incurred by me
in rendering such assistance at the request of SOHU will be reimbursed by SOHU. If I am no longer an employee of SOHU at the time I render such assistance, SOHU will pay me a reasonable fee for my time. 

7. Termination; Return of SOHU Property. Upon the termination of my employment with SOHU for any reason, or at any time upon
SOHU’s request, I will return to SOHU all Work Product and Confidential Information and notes, memoranda, records, customer lists, proposals, business plans and other documents, computer software, materials, tools, equipment and other property
in my possession or under my control, relating to any work done for SOHU, or otherwise belonging to SOHU, it being acknowledged that all such items are the sole property of SOHU. Further, before obtaining my final paycheck, I agree to sign a
certificate stating the following: 
 “Termination Certificate 
 This is to certify that I do not have in my possession or custody, nor have I failed to return, any Work Product (as defined in the Employee Non-competition, Non-solicitation, Confidential Information and
Work Product Agreement between me and Sohu.com Inc. (“SOHU”)) or any notes, memoranda, records, customer lists, proposals, business plans or other documents or any computer software, materials, tools, equipment or other property (or copies
of any of the foregoing) belonging to SOHU.” 

  
 -16-

 8. General Provisions. 

(a) This Agreement contains the entire agreement between me and SOHU with respect to the subject matter hereof and supersedes all prior
and contemporaneous agreements and understandings related to the subject matter hereof, whether written or oral; provided however, that, with respect to periods through the date hereof, this Agreement will not supersede the Employee Non-competition,
Non-solicitation, Confidential Information and Work Product Agreement between SOHU that was in effect prior to the date hereof (the “Prior Employee Obligations Agreement”), which will continue in full force and effect with respect to such
periods. This Agreement may not be modified except by written agreement signed by SOHU and me. 
 (b) This Agreement will be
governed by and construed and enforced in accordance with the laws of the State of New York if the Employee is not a citizen of the People’s Republic of China (the “PRC”), and in accordance with the laws of the PRC if the Employee is
a citizen of the PRC, in each case exclusive of such jurisdiction’s principles of conflicts of law. If, under the applicable law, any portion of this Agreement is at any time deemed to be in conflict with any applicable statute, rule,
regulation or ordinance, such portion will be deemed to be modified or altered to conform thereto or, if that is not possible, to be omitted from this Agreement; the invalidity of any such portion will not affect the force, effect and validity of
the remaining portion hereof. Each of the parties hereto irrevocably (i) agrees that any dispute or controversy arising out of, relating to, or concerning any interpretation, construction, performance or breach of this Agreement, shall be
settled to be held in the Hong Kong S.A.R. under the Hong Kong International Arbitration Centre Administered Arbitration Rules (the “Arbitration Rules”) in force when a Notice of Arbitration with respect thereto is submitted in accordance
with the Arbitration Rules. There shall be one arbitrator, selected in accordance with the Arbitration Rules. The decision of the arbitrator shall be final, conclusive and binding on the parties to the arbitration. Judgment may be entered on the
arbitrator’s decision in any court having jurisdiction. The parties to the arbitration shall each pay an equal share of the costs and expenses of such arbitration, and each party shall separately pay for its respective counsel fees and
expenses; provided, however, that the prevailing party in any such arbitration shall be entitled to recover from the non-prevailing party its reasonable costs and attorney fees. 

(c) In the event that any provision of this Agreement is determined by any court of competent jurisdiction to be unenforceable by reason
of its extending for too great a period of time, over too large a geographic area, over too great a range of activities, it will be interpreted to extend only over the maximum period of time, geographic area or range of activities as to which it may
be enforceable. 
 (d) If, after application of paragraph (c) above, any provision of this Agreement will be determined to
be invalid, illegal or otherwise unenforceable by any court of competent jurisdiction, the validity, legality and enforceability of the other provisions of this Agreement will not be affected thereby. Any invalid, illegal or unenforceable provision
of this Agreement will be severed, and after any such severance, all other provisions hereof will remain in full force and effect. 
 (e) SOHU and I agree that either of us may waive or fail to enforce violations of any part of this Agreement without waiving the right in the future to insist on strict compliance with all or parts of
this Agreement. 

  
 -17-

 (f) My obligations under this Agreement will survive the termination of my employment with
SOHU regardless of the manner of or reasons for such termination, and regardless of whether such termination constitutes a breach of any other agreement I may have with SOHU. My obligations under this Agreement will be binding upon my heirs,
executors and administrators, and the provisions of this Agreement will inure to the benefit of the successors and assigns of SOHU. 
 (g) I agree and acknowledge that the rights and obligations set forth in this Agreement are of a unique and special nature and necessary to ensure the preservation, protection and continuity of
SOHU’s business, employees, Confidential Information, and intellectual property rights. Accordingly, SOHU is without an adequate legal remedy in the event of my violation of any of the covenants set forth in this Agreement. I agree, therefore,
that, in addition to all other rights and remedies, at law or in equity or otherwise, that may be available to SOHU, each of the covenants made by me under this Agreement shall be enforceable by injunction, specific performance or other equitable
relief, without any requirement that SOHU have to post a bond or that SOHU have to prove any damages. 

  
 -18-

 IN WITNESS WHEREOF, the undersigned employee and SOHU have executed this Employee
Non-competition, Non-solicitation, Confidential Information and Work Product Agreement. 
  

					
	Effective as of June 1, 2013.	 		 	
		
	Signature of Employee:	 	    Sohu.com Inc.
			
	  	 	    By:	 	  
	Printed name of employee:	 		 	Name: Charles Zhang
	Xin Wang (Belinda)	 		 	Title: Chief Executive Officer

  
 -19-EX-10.2

 Exhibit 10.2 
 Confidential Treatment Requested. Confidential portions of this document have been redacted and have been separately filed with the SEC. 

Acquisition Framework Agreement 
 by and among 
 Beijing Gamease Age Digital Technology Co., Ltd. 

CHANGYOU.COM WEBGAMES (HK) LIMITED 
 Johnny, Cao Kai 
 Kent, Yang Zhiyi 

Justin, Long Chunyan 
 Ben, Meng Shuqi 
 BURGEON MAX LIMITED 

CADGWITH INVESTMENTS LIMITED 
 DOUBLE MERITS HOLDINGS LIMITED 
 EURO LOGISTICS LIMITED 

7ROAD.COM LIMITED 
 Shenzhen 7Road Network Technology Co., Ltd 
 and 

Shenzhen 7Road Technology Co., Ltd. 
 Relating to the equity interests in 
 7ROAD.COM LIMITED and Shenzhen
7Road Technology Co., Ltd. 
 Dated as of May 1, 2013 

 Contents 

 

							
	 I.
	  	DEFINITIONS AND INTERPRETATIONS	  	 	4	  
	 1.1
	  	DEFINITIONS	  	 	4	  
	 1.2
	  	INTERPRETATIONS	  	 	7	  
			
	 II.
	  	ACQUISITION OF THE TARGET SHARES	  	 	7	  
	 2.1
	  	ACQUISITION APPROACH	  	 	7	  
	 2.2
	  	THE ACQUISITION CONSIDERATION	  	 	8	  
	 2.3
	  	PAYMENT OF THE ACQUISITION CONSIDERATION	  	 	8	  
	 2.4
	  	FIRST PAYMENT, CLOSING AND LAST PAYMENT	  	 	10	  
	 2.5
	  	SEPARATE EQUITY/SHARE TRANSFER AGREEMENT	  	 	12	  
	 2.6
	  	EFFECTS ON PRIOR AGREEMENTS	  	 	12	  
			
	 III.
	  	TAX, COSTS AND EXPENSES	  	 	13	  
			
	 IV.
	  	CONDITIONS PRECEDENT	  	 	13	  
	 4.1
	  	CONDITIONS PRECEDENT FOR THE PURCHASERS TO AGREE ON
THE CLOSING	  	 	13	  
	 4.2
	  	CONDITIONS PRECEDENT FOR THE SELLERS TO AGREE ON
THE CLOSING	  	 	17	  
			
	 V.
	  	REPRESENTATIONS AND WARRANTIES OF THE SELLERS	  	 	17	  
	 5.1
	  	QUALIFICATIONS, POWERS AND RIGHTS	  	 	17	  
	 5.2
	  	AUTHORIZATION, VALIDITY OF THIS AGREEMENT	  	 	18	  
	 5.3
	  	BUSINESS AND OPERATION OF THE 7ROAD GROUP	  	 	19	  
	 5.4
	  	COMPLIANCE	  	 	19	  
	 5.5
	  	ASSETS OF THE 7ROAD GROUP	  	 	20	  
	 5.6
	  	INFORMATION DISCLOSURE	  	 	21	  
	 5.7
	  	FINANCIAL MATERIALS	  	 	21	  
	 5.8
	  	LABOR AND MANAGERS	  	 	21	  
	 5.9
	  	EQUITY INCENTIVE PLAN FOR EMPLOYEES	  	 	22	  
	 5.10
	  	TAX	  	 	22	  
	 5.11
	  	LITIGATION	  	 	22	  
	 5.12
	  	CONSENTS	  	 	22	  
	 5.13
	  	RELATED PARTY TRANSACTIONS	  	 	23	  
	 5.14
	  	NO OTHER AGREEMENTS	  	 	23	  
			
	 VI.
	  	REPRESENTATIONS AND WARRANTIES OF THE PURCHASERS	  	 	23	  
	 6.1
	  	QUALIFICATIONS	  	 	23	  
	 6.2
	  	AUTHORIZATION, VALIDITY OF THIS AGREEMENT	  	 	23	  
	 6.3
	  	APPROVAL BY COMPETENT AUTHORIZATION ORGANS	  	 	24	  
	 6.4
	  	NO VIOLATIONS OF LAWS AND NO DEFAULTS	  	 	24	  
	 6.5
	  	OTHER WARRANTIES	  	 	24	  
			
	 VII.
	  	COVENANTS OF THE SELLERS	  	 	24	  
	 7.1
	  	PRE-CLOSING COVENANTS	  	 	24	  
	 7.2
	  	POST-CLOSING OBLIGATIONS	  	 	26	  
			
	 VIII.
	  	COVENANTS OF THE PURCHASERS	  	 	27	  
	 8.1
	  	PRE-CLOSING COVENANTS	  	 	27	  
			
	 IX.
	  	DEFAULT AND INDEMNIFICATIONS	  	 	27	  
			
	 X.
	  	TERMINATION	  	 	29	  
	 10.1
	  	TERMINATION DUE TO DEFAULTS	  	 	29	  
	 10.2
	  	TERMINATION DUE TO MATERIAL ADVERSE CHANGES AND
NON-COMPLETION OF CONDITIONS	  	 	29	  
	 10.3
	  	EFFECT OF TERMINATION	  	 	29	  

  
 i 

							
			
	 XI.
	  	APPLICABLE LAW AND RESOLUTION OF DISPUTES	  	 	30	  
	 11.1
	  	APPLICABLE LAW	  	 	30	  
	 11.2
	  	CONSULTATION	  	 	30	  
	 11.3
	  	ARBITRATION	  	 	30	  
			
	 XII.
	  	MISCELLANEOUS	  	 	30	  
	 12.1
	  	REVISION AND AMENDMENT	  	 	30	  
	 12.2
	  	NOTICE	  	 	31	  
	 12.3
	  	CONFIDENTIALITY	  	 	33	  
	 12.4
	  	EFFECTIVENESS	  	 	34	  
	 12.5
	  	COUNTERPARTS	  	 	34	  
	 12.6
	  	SEVERABILITY	  	 	34	  
	 12.7
	  	NON-WAIVING OF RIGHTS	  	 	34	  
	 12.8
	  	ASSIGNMENT	  	 	34	  

  

	
	EXHIBIT I: DOMESTIC SEPARATE AGREEMENT
	
	EXHIBIT II: OVERSEAS SEPARATE AGREEMENT
	
	EXHIBIT III: LIST OF MATTERS REQUIRED TO BE ACCEPTED AFTER EXAMINATION
	
	EXHIBIT IV: NAME LIST OF KEY EMPLOYEES
	
	EXHIBIT V: LIST OF EMPLOYEES IN-SERVICE ON JANUARY 1, 2013

  
 ii 

 Acquisition Framework Agreement 

This Acquisition Framework Agreement (“Agreement”) is entered into in Shenzhen City, the People’s Republic of China on May 1,
2013 by and among: 
  

	(1)	BURGEON MAX LIMITED (“BVI-I”), a limited liability company duly incorporated and validly existing under the laws of the British Virgin Islands, with
its registered address at P.O. Box 957, Offshore Incorporations Centre, Road Town, Tortola, British Virgin Islands; 

  

	(2)	CADGWITH INVESTMENTS LIMITED (“BVI-II”), a limited liability company duly incorporated and validly existing under the laws of the British Virgin
Islands, with its registered address at P.O. Box 957, Offshore Incorporations Centre, Road Town, Tortola, British Virgin Islands; 

  

	(3)	DOUBLE MERITS HOLDINGS LIMITED (“BVI-III”), a limited liability company duly incorporated and validly existing under the laws of the British Virgin
Islands, with its registered address at P.O. Box 957, Offshore Incorporations Centre, Road Town, Tortola, British Virgin Islands; 

  

	(4)	EURO LOGISTICS LIMITED (“BVI-IV”), a limited liability company duly incorporated and validly existing under the laws of the British Virgin Islands,
with its registered address at P.O. Box 957, Offshore Incorporations Centre, Road Town, Tortola, British Virgin Island (together with BVI-I, BVI-II and BVI-III, the “Existing Shareholders of the Cayman Company”);

  

	(5)	Johnny, Cao Kai (曹凯), the sole shareholder of BVI-I, a Chinese citizen(ID card number: * ), with his address at *; 

 

	(6)	Kent, Yang Zhiyi (杨志毅), the sole shareholder of BVI-II, a Chinese citizen (ID card number: * ), with his address at *; 

 

	(7)	Justin, Long Chunyan (龙春燕), the sole shareholder of BVI-III, a Chinese citizen (ID card number: *), with his address at *;

  

	(8)	Ben, Meng Shuqi (孟书奇), the sole shareholder of BVI-IV, a Chinese citizen (ID card number: * ), with his address at * (Johnny, Cao Kai, Kent,

 The symbol ‘ * ’ in this exhibit indicates places where information has been omitted pursuant to a request for
confidential treatment and filed separately with the SEC. 

  
 1 

 Yang Zhiyi, Justin, Long Chunyan, Ben, Meng Shuqi shall hereinafter be collectively referred to as
“Existing Shareholders of the VIE Company”; the Existing Shareholders of the VIE Company and the Existing Shareholders of the Cayman Company shall hereinafter be collectively referred to as the “Sellers”);

  

	(9)	Beijing Gamease Age Digital Technology Co., Ltd., a limited liability company duly incorporated and validly existing under the laws of the People’s Republic of
China, with its registered address at 2F, East Wing, Jingyan Hotel, No.29 Shi Jing Shan Road, Shi Jing Shan District, Beijing (“ Gamease Age”); 

 

	(10)	Changyou.com Webgames (HK) Limited, a limited liability company duly incorporated and validly existing under the laws of Hong Kong, with its registered address at 304
Dominion Centre, 43 Queen’s Road East, Hong Kong (“Gamease Hong Kong”, and together with Gamease Age, the “Purchasers”); 

 

	(11)	7Road.com Limited, a limited liability company duly incorporated and validly existing under the laws of Cayman, with its registered address at Scotia Centre, 4th Floor,
P.O. Box 2804, George Town, Grand Cayman KY1-1112, Cayman Islands (the “Cayman Company”); 

  

	(12)	Shenzhen 7Road Network Technology Co., Ltd, a limited liability company duly incorporated and validly existing under the laws of the People’s Republic of China
(the “WFOE”), with its registered address at 7F, Main Building, Matsunichi Peak Tower, No. 9996, Shennan Road, Nan Shan District, Shenzhen City; and 

 

	(13)	Shenzhen 7Road Technology Co., Ltd, a limited liability company duly incorporated and validly existing under the laws of the People’s Republic of China (the
“VIE Company”), with its registered address at 8-9F, Main Building, Matsunichi Peak Tower, No. 9996, Shennan Road, Nan Shan District, Shenzhen City. 

 The foregoing are referred to as Parties collectively or a Party individually. 

  
 2 

 WHEREAS: 
 (1) Certain Parties hereto and Liqing Zeng, Yuan Wang, Tao Liu, Jie Zhang, Suzhou Green Pine Growth Partnership, Shenzhen Capital Group Co., Ltd entered into the Share Transfer Framework Agreement
relating to the transfer of 68.258% equity interests in each of Shenzhen 7Road Technology Co., Ltd and its overseas Affiliate (“Share Transfer Framework Agreement”) on April 22, 2011, regarding the acquisition of 68.258% equity
interests in the VIE Company by Gamease Age, the implement of the overseas reorganization plan of 7Road Group (defined as below) and the acquisition of 68.258% equity interests in the Cayman Company by Gamease Hong Kong (the “Domestic and
Overseas Share Transfer and Reorganization”). 
 (2) The Domestic and Overseas Share Transfer and Reorganization has
been completed before the date hereof. As of its establishment, the Cayman Company had issued 100,000 ordinary shares in total, which were, upon the completion of the overseas share transfer, held by the Existing Shareholders of the Cayman Company
and Gamease Hong Kong respectively in accordance with the respective shareholding ratio of the Existing Shareholders of the VIE Company and Gamease Age in the VIE Company. Thereafter, Johnny, Cao Kai transferred 5,100 shares (5.1% of then all issued
shares of the Cayman Company) through BVI-I back to the Cayman Company free of charge to be used for offering options and/or incentive shares under the employee share incentive plan of 7Road Group. After a share split, all the issued shares of the
Cayman Company were changed to 100,000,000 ordinary shares and reclassified into 2 classes: (i) 94,900,000 Class B Ordinary Shares, held by the Existing Shareholders of the Cayman Company and Gamease Hong Kong respectively; and (ii) the
5.1% previously issued shares transferred by Johnny, Cao Kai to the Cayman Company free of charge were changed to 5,100,000 Class A Ordinary Shares after the shares split, which were reserved by the Cayman Company and of which restricted share
units (“RSUs”) settleable upon vesting by the issuance of an aggregate of 2,546,250 shares have been granted to certain employees under the 2012 Share Incentive Plan of the Cayman Company. As of the date hereof, the shareholding
structure of the Cayman Company is as follows: 
  

									
	 Name
	  	Amount of shares
(Class B 
Ordinary Shares)	 	  	Shareholding	 
	 Gamease Hong Kong
	  	 	68,258,000	  	  	 	71.926	% 
	 BVI-I
	  	 	20,490,000	  	  	 	21.591	% 
	 BVI-II
	  	 	2,090,000	  	  	 	2.202	% 
	 BVI-III
	  	 	2,090,000	  	  	 	2.202	% 
	 BVI-IV
	  	 	1,972,000	  	  	 	2.078	% 
	 Total
	  	 	94,900,000	  	  	 	100.00	% 

  
 3 

 (3) As of the date hereof, the shareholding structure of the VIE Company is as follows:

  

									
	 Name
	  	Amount of capital
contribution
( RMB
)	 	  	Shareholding	 
	 Gamease Age
	  	 	6,825,800	  	  	 	68.258	% 
	 Johnny, Cao Kai
	  	 	2,559,000	  	  	 	25.59	% 
	 Kent, Yang Zhiyi
	  	 	209,000	  	  	 	2.09	% 
	 Justin, Long Chunyan
	  	 	209,000	  	  	 	2.09	% 
	 Ben, Meng Shuqi
	  	 	197,200	  	  	 	1.972	% 
	 Total
	  	 	10,000,000	  	  	 	100.00	% 

 The VIE Company, its shareholders and the WFOE have entered into a series of VIE Agreements (defined
below), and the shares held by each shareholder of the VIE Company have been pledged to the WFOE based on the VIE Agreements. 

(4) The Sellers intend to transfer all of their equity interests in the VIE Company and the Cayman Company (collectively referred to as
the “Target Shares”) to the Purchasers in accordance with the terms and conditions hereof and to cease holding equity interests in 7Road Group entirely; the Purchasers agree to purchase the Target Shares. 

To achieve the transaction goal in the foregoing and upon the consultation on the basis of equality, the Parties agree: 

 

	I.	Definitions and Interpretations 

  

	1.1	Definitions 

 In addition to the
capitalized terms defined in the foregoing, unless otherwise provided in this Agreement, the following terms shall have the respective meanings set forth below: 
  

			
	 “Encumbrance”
	  	shall mean the mortgage, pledge, lien, right of first refusal, or any other third party rights and interests of any nature.
		
	 “7Road Group”
	  	shall mean, collectively, the Cayman Company, 7Road.com HK Limited as the wholly-owned subsidiary of the Cayman Company, the WFOE and the VIE Company. Any provisions applicable to
the 7Road Group shall be deemed to be applied to all members of the 7Road Group in the foregoing as a whole and individually.

  
 4 

			
		
	 “Shareholders
 Agreement of the VIE Company”
	  	shall mean the Shenzhen 7Road Technology Co., Ltd Shareholders Agreement signed by and among the Existing Shareholders of the VIE Company and Gamease Age on April 22,
2011.
		
	 “VIE Agreements”
	  	shall mean a series of agreements and documents dated as of May 31, 2012 relating to the controlling power over the VIE Company, signed by and among the Existing Shareholders of the
VIE Company, Gamease Age, the WFOE and the VIE Company (if applicable) pursuant to the Share Transfer Framework Agreement, including the Equity Interest Purchase Right Agreements, the Equity Interest Pledge Agreements, the Technology Development and
Technology Utilization Service Agreement, the Spousal Consent Letters, the Business Operation Agreement, the Services and Maintenance Agreement, and the Intellectual Property Rights Transfer Agreement.
		
	 “Shareholders
 Agreement of the
 Cayman Company”
	  	shall mean the Shareholders Agreement of 7Road.com Limited signed by and among the Existing Shareholders of the Cayman Company and Gamease Hong Kong on June 15,
2012.
		
	 “Industrial and
 Commercial
 Administration”
	  	shall mean relevant industrial and commercial administrations in charge of the registration of companies and trademark registration.
		
	 “Governmental
 Department”
	  	shall mean any government, quasi-government, any judicial, public, regulatory, legislative or statutory institution, any authority, entity, agency, ministry, bureau or unit or any
arbitrator of the PRC or other jurisdictions, which has an authority on any Party in accordance with the law.

  
 5 

			
		
	 “Affiliates”
	  	shall mean, with respect to any Person, any other Person that controls, is controlled by or is under common control with such Person, directly or indirectly through one or more
intermediaries. “Control” means the possession, direct or indirect, of the power to direct the management and policies of a Person, whether through ownership of voting securities, by contract or otherwise. If any Person, directly or
indirectly, holds 50% or more of the equity interest of another Person, it shall be deemed as controlling such Person.
		
	 “Business Day”
	  	shall mean a calendar day other than Saturday, Sunday or other legal holidays in the PRC.
		
	 “Yuan”
	  	shall mean Renminbi Yuan, the lawful currency of the PRC.
		
	 “China” or “PRC”
	  	shall mean the People’s Republic of China, solely for purposes of this Agreement, excluding Hong Kong Special Administrative Region, the Macau Special Administrative Region and
Taiwan.
		
	 “Material Adverse
 Change”
	  	shall mean any event, matter, situation, change, or development leading to or reasonably likely to cause Material Adverse Effects to the business, financial condition, operation and
operational results of the 7Road Group, but changes of common economic or political factors are excluded.
		
	 “Material Adverse
 Effect”
	  	shall mean any effect materially adverse to the business, assets, prospects, operation (including finance and other aspects), operational results or registered capital of an
entity.
		
	 “Person”
	  	shall mean natural person, partnership, corporation, limited liability company, joint stock company, trust, unincorporated enterprise, joint venture, governmental agency, or other
institutions or organizations.

  
 6 

	1.2	Interpretations 

  

	 	(a)	Unless otherwise provided, all references herein to Articles and Sections, shall be deemed to refer to Articles and Sections of or to this Agreement, as applicable.

  

	 	(b)	The words “include,” “includes,” and “including” shall be deemed to be followed by “without limitation” or “but not limited
to.” 

  

	 	(c)	References herein to one Party to this Agreement, other agreements, or documents shall include the successors or licensed assignees. 

 

	II.	Acquisition of the Target Shares 

  

	2.1	Acquisition Approach 

 Subject to
the terms and conditions of this Agreement, the Sellers agree to transfer the Target Shares to the Purchasers at the price as provided in Section 2.2, and the Purchasers agree to purchase the Target Shares. Specifically: 

(a) Each of the Existing Shareholders of the Cayman Company will sell all of its equity interests in the Cayman Company to Gamease Hong
Kong; and 
 (b) Each of the Existing Shareholders of the VIE Company will sell all of his equity interest in the VIE Company to
Gamease Age. 
 Each Seller hereby acknowledges that it consents to the sales by the other Sellers of their Target Shares, and
irrevocably waives the right of first refusal and other similar preferential rights based on applicable law, articles of association of the VIE Company and/or the Cayman Company, Shareholders Agreement or any other organizational documents,
regarding the Target Shares sold such other Sellers. 
 After the Closing (defined below) hereof, the Existing Shareholders of
the VIE Company will no longer be parties to the VIE Agreements, since they no longer hold any equity interest in the VIE Company, and Gamease Age will continue performing the VIE Agreements as the sole shareholder of the VIE Company. The WFOE
agrees to the transfer transaction under Section 2.1(b), and for the purpose of the Closing hereof, agrees to remove the pledge on the equity interests in the VIE Company held by the Existing Shareholders of the VIE Company (including issuing
necessary letters of approval regarding the removal of pledge and other documents as requested by the Industrial and Commercial Administration). 

  
 7 

	2.2	The Acquisition Consideration 

  

	 	(a)	The Parties agree that, after friendly consultation, subject to the terms and conditions hereof, the Purchasers shall pay $78,010,052 (“Acquisition
Consideration”) to the Sellers in total, regarding the acquisition of the Target Shares. Of the Acquisition Consideration, the Existing Shareholders of the Cayman Company shall receive $46,268,052 (“Overseas Consideration”)
as the consideration of the transfer of all their equity interests in the Cayman Company, and the Existing Shareholders of the VIE Company shall receive Renminbi equivalent to $31,742,000 (“Domestic Consideration”) as the
consideration of the transfer of all their equity interests in the VIE Company. 

 The Parties confirm and agree
that the aforesaid Domestic Consideration shall be paid to the Sellers in accordance with Section 2.3 of this Agreement by the Purchasers in Renminbi, at an exchange rate of 6.206 Yuan for 1 U.S. dollar. 

 

	 	(b)	The Parties confirm and agree that the Acquisition Consideration shall include the consideration for any and all undistributed profits of the 7Road Group associated
with the Target Shares up to the Closing Day (defined as below). The Sellers may not further request to distribute any profits of the 7Road Group with respect to the Target Shares. 

 

	 	(c)	Regarding the amount of Acquisition Consideration provided in Section 2.2 of this Agreement, in the case that the Purchasers is required to withhold related tax
from the Acquisition Consideration in accordance with applicable tax laws and regulations, the Purchasers may accordingly withhold such tax. 

  

	2.3	Payment of The Acquisition Consideration 

  

	 	(a)	The Parties acknowledge and agree that, subject to terms and conditions of this Agreement, the Purchasers shall pay the Acquisition Consideration in cash to the
following accounts designated, respectively, by the Sellers (“Designated Accounts”) after deducting any withholding tax (if applicable), in accordance with the allocation among the Sellers, the amounts of each installment payment
and the timing of payment as follows: 

  
 8 

																			
	 The Sellers
	  	The
Acquisition
Consideration
($)
	 	  	Time of payment/amount of payment by the
Purchasers($)	 
	  	  	The First
Payment
Day(as
defined
below)	 	  	The Closing
Day(as
defined
below)	 	  	The Last
Payment
Day(as
defined
below)	 
	 The Existing Shareholders of the VIE Company
	  	Johnny, Cao Kai	  	 	25,590,000	  	  	 	17,913,000	  	  	 	7,677,000	  	  	 	0	  
	  	 Kent, Yang Zhiyi
	  	 	2,090,000	  	  	 	1,463,000	  	  	 	627,000	  	  	 	0	  
	  	 Justin, Long Chunyan
	  	 	2,090,000	  	  	 	1,463,000	  	  	 	627,000	  	  	 	0	  
	  	 Ben, Meng Shuqi
	  	 	1,972,000	  	  	 	1,380,400	  	  	 	591,600	  	  	 	0	  
	 The Existing Shareholders of the Cayman Company
	  	BVI-I	  	 	34,642,002	  	  	 	23,172,680	  	  	 	9,931,149	  	  	 	1,538,173	  
	  	 BVI-II
	  	 	3,949,682	  	  	 	2,654,951	  	  	 	1,137,836	  	  	 	156,895	  
	  	 BVI-III
	  	 	3,949,682	  	  	 	2,654,951	  	  	 	1,137,836	  	  	 	156,895	  
	  	 BVI-IV
	  	 	3,726,686	  	  	 	2,505,054	  	  	 	1,073,595	  	  	 	148,037	  

  

					
	 The Sellers
	  	The Designated Accounts	 
	 Johnny, Cao Kai
	  	 	*	  
	 Kent, Yang Zhiyi
	  	 	*	  
	 Justin, Long Chunyan            
	  	 	*	  
	 Ben, Meng Shuqi
	  	 	*	  

 The symbol ‘ * ’ in this exhibit indicates places where information has been omitted pursuant to a request
for confidential treatment and filed separately with the SEC. 

  
 9 

			
		
	 BVI-I
	  	 Account Name: Burgeon Max Limited
 Bank of Deposit: *
 Swift ID: *
 Account Number: *
 Bank Code: *
 Message: *

		
	 BVI-II
	  	 Account Name: Cadgwith Investments Limited
 Bank of Deposit: *
 Swift ID: *
 Account Number: *
 Bank Code: *
 Message: *

		
	 BVI-III
	  	 Account Name: Double Merits Holdings Limited
 Bank of Deposit: *
 Swift ID: *
 Account Number: *
 Bank Code: *
 Message: *

		
	 BVI-IV
	  	 Account Name: Euro Logistics Limited
 Bank of Deposit: *
 Swift ID: *
 Account Number: *
 Bank Code: *
 Message: *

  

	 	(b)	The Sellers shall immediately issue and submit a written confirmation as formal receipt voucher to the Purchasers upon receiving each aforesaid payment.

  

	 	(c)	Notwithstanding the foregoing, in the case that the Sellers are found to be in breach of their representations and warranties or obligations or covenants under this
Agreement at any time, the Purchasers may claim against the Sellers for liabilities and indemnification pursuant to Article 9 of this Agreement. 

  

	2.4	First Payment, Closing and Last Payment 

  

	 	(a)	 The First Payment shall be paid to the Sellers at the first following Business Day after all the conditions precedent provided in Section 4.1(a)
to 4.1(m) of Article 4 hereof have been satisfied or waived by the Purchasers in written form pursuant to Section 4.1 or other date agreed by the Purchasers and the Sellers (“First Payment Day”) by the Purchasers in accordance
with Section 2.3 of this Agreement. As conditions precedent of 

  
 The symbol ‘ *
’ in this exhibit indicates places where information has been omitted pursuant to a request for confidential treatment and filed separately with the SEC. 

  
 10 

	 	
payment of First Payment, the Sellers shall designate a person with legitimate authorization of the Sellers, to issue and submit a confirmation letter to the Purchasers, which confirms that all
the conditions precedent provided in Section 4.1(a) to 4.1(m) that the Sellers are responsible for have been satisfied or validly waived by the Purchasers, and provide the Purchasers with original copies/items of all related documents,
certifications and items before the First Payment Day (no later than 1 Business Day before the First Payment Day). 

  

	 	(b)	The Closing shall take place at the time and the location agreed by Parties, on the first succeeding Business Day after all the conditions precedent of acquisition of
the Target Shares provided in Article 4 hereof have been satisfied (or have been waived in written form by related Party who is permitted to waive pursuant to Section 4.1 and Section 4.2) or other date agreed by the Parties
(“Closing Day”). 

 If the failure of occurrence of the Closing is attributed to any Party (e.g.,
failure to perform obligations under this Agreement leading to the failure to satisfy the conditions precedent which such Party is responsible for ), the Parties shall deal with it in the way provided in Article 11 of this Agreement. 

Unless otherwise provided in the Domestic Separate Agreement or the Overseas Separate Agreement (as defined below), upon the Closing Day,
the Purchasers and the Sellers shall designate a person respectively with their legitimate authorization, to issue and submit a confirmation letter to the opposite side, which confirms that all the conditions precedent provided in Section 4.1
(applicable to the Sellers) or Section 4.2 (applicable to the Purchasers) that the Parties are responsible for respectively have been satisfied as of the Closing Day (or waived by the opposite side), and provide the opposite side with original
copies/items of all related documents, certifications and items (if such original copies/items shall be provided to the opposite side before the Closing Day pursuant to provisions of this Agreement, such provisions shall be observed). 

 

	 	(c)	 From the Closing Day until the first anniversary date of the Closing Day, (i) if the Sellers do not breach any representation and warranty or any
covenant or obligation under this Agreement, the Purchasers shall pay the Last Payment to the Sellers in accordance with Section 2.3 hereof on the fifth Business Day after the first anniversary date of the Closing Day or any other date agreed
to by the Purchasers and the Sellers (“Last Payment Day”), 

  
 11 

 
(ii) if the Sellers breach any representation and warranty or any covenant or obligation under this Agreement, the Purchasers may choose not to pay the Last Payment and shall give a written
notice to the Sellers not later than the fifth Business Day after the first anniversary date of the Closing Day. Nevertheless, the aforesaid arrangement related to the Last Payment shall not replace, terminate, exclude, and limit the
Purchasers’ right to claim against the Sellers for responsibility of default in accordance with provisions hereof, regarding the Sellers’ breach of any representation and warranty or any obligation or covenant under this Agreement.

  

	2.5	Separate Equity/Share Transfer Agreement 

 To consummate the transaction under this Agreement, the Parties agree to, (1) before Closing, duly execute and submit an Equity Transfer Agreement in the form of the VIE Company Equity Transfer
Agreement attached hereto as Exhibit I (“Domestic Separate Agreement”), which will be used for submission to relevant Governmental Department and handling formalities and procedures required to transfer and register the equity in
the VIE Company, and (2) before Closing, duly execute and submit a separate Share Transfer Agreement in the form of the Cayman Company Share Transfer Agreement attached hereto as Exhibit II (“Overseas Separate Agreement”),
which will be used for handling formalities and procedures required to transfer the shares of the Cayman Company. For the avoidance of doubt, the Domestic Separate Agreement and the Overseas Separate Agreement shall be interpreted and applied
together with this Agreement as a whole. Matters not included in the Domestic Separate Agreement and the Overseas Separate Agreement shall be implemented in accordance with this Agreement. Every related Party shall fully and duly perform his or its
obligations under the Domestic Separate Agreement and the Overseas Separate Agreement, and any violation of such agreements shall be deemed as a violation under this Agreement. In the event of any conflict between the terms of the Domestic Separate
Agreement or the Overseas Separate Agreement and this Agreement, the terms of this Agreement shall prevail. 
  

	2.6	Effects on Prior Agreements 

Effective on the First Payment Day, (i) all agreements in Section 4.2 of the Share Transfer Framework Agreement shall be
terminated, and the Sellers hereby unconditionally and irrevocably waive any original right, demand and claim under such Section; (ii) the non-compete obligations of the Sellers under the Share Transfer Framework Agreement, the Shareholders
Agreement of the VIE Company, the Shareholders Agreement of the Cayman Company and the Labor Contracts and Non-compete Agreements between the Sellers and the VIE Company, shall be terminated, provided however, that the Sellers shall continuously
observe Section 7.1(e) and 7.2(a) of this Agreement; (iii) the Shareholders Agreement of the VIE Company and the Shareholders Agreement of the Cayman Company shall be terminated. Notwithstanding the foregoing, such terminations shall not
exclude or affect a Party’s right to claim against other parties for liabilities arising from such sections and other sections under aforesaid agreements. 

  
 12 

	III.	Tax, Costs and Expenses 

The Sellers and Purchasers shall be responsible for their own taxes (including but not limited to enterprise income tax, personal income
tax and stamp tax) and any related adverse consequences (if any) arising from the consummation of the transactions in this Agreement which are attributable to them according to applicable law. If the Sellers incur any economic losses to the 7Road
Group, the Purchasers or their Affiliates due to any violation by the Sellers of any applicable laws such as failure to fulfill their related tax declaration or taxation payment obligations, the Sellers shall indemnify the 7Road Group, the
Purchasers or the Affiliates of the Purchasers accordingly and all members of the Sellers shall bear joint liability. 
 In
addition, the Sellers and the Purchasers shall assume their own costs and expenses paid or to be paid relating to the due diligence, preparation, negotiation and preparation of documents regarding the transactions of this Agreement, including
engaging external lawyers, accountants, other professional consultants, negotiation and preparation of this Agreement and the completion of the transactions of this Agreement. 
 The Sellers and the Purchasers shall not incur any cost and expense to the 7Road Group due to execution and submission of this Agreement, performance of the obligations under this Agreement or preparation
and implement of the transactions of this Agreement. 
  

	IV.	Conditions Precedent 

  

	4.1	Conditions precedent for the Purchasers to agree on the Closing 

 The Purchasers’ obligation to proceed with the Closing is subject to the fulfillment, , on or before the Closing Day (unless otherwise expressly agreed that certain conditions can only be satisfied
on the Closing Day), of the conditions precedent provided under Section 4.1(a) through 4.1(o) (unless otherwise waived by the Purchasers in writing). 

  
 13 

	 	(a)	All representations and warranties made by the Sellers in Article 5 of this Agreement are true, correct and without any material omissions, as of the date of this
Agreement and the Closing Day. 

  

	 	(b)	The Sellers have duly fulfilled all obligations and complied with all undertakings which shall be fulfilled and undertaken before the Closing Day, pursuant to this
Agreement. 

  

	 	(c)	Shareholder meeting of the VIE Company has passed a resolution to approve the execution and performance of this Agreement as well as the consummation of the transaction
of sale and acquisition of the equity interests in the VIE Company hereunder; and all of the Existing Shareholders of the VIE Company have voted for such meeting resolution. 

 

	 	(d)	The shareholders of the Cayman Company have passed a resolution to approve the execution and performance of this Agreement as well as the consummation of the
transaction of sale and acquisition of the equity shares of the Cayman Company hereunder; and all of the Existing Shareholders of the Cayman Company have voted for such meeting resolution. 

 

	 	(e)	As of the date hereof, each of Johnny, Cao Kai, Kent, Yang Zhiyi, Justin, Long Chunyan has voluntarily and effectively resigned from any position in the 7Road Group
including as a director, supervisor and senior manager; Ben, Meng Shuqi has voluntarily resigned as a director of any company of the 7Road Group as of the date of this Agreement. On the same day, the shareholders of each of the Cayman Company and
the VIE Company have passed resolutions to elect the candidates, nominated by the Purchasers, to serve as the new directors, supervisors and senior managers of such company; and all of the Sellers have voted for such meeting resolutions.

  

	 	(f)	 After the date of this Agreement, the Sellers shall have used their best efforts to cooperate with the Purchasers to conduct the preliminary core
technology test and accept the core assets after examination immediately, regarding all the business platforms of the 7Road Group, and have used their best efforts to assist the Purchasers in organizing related technology, business, financial, human
resources, legal departments to test, accept after examination and check the business operation, enterprise management and condition of the assets of the 7Road Group and assist the Purchasers with

  
 14 

	 	
the matters of relevant departments listed in Exhibit III hereto and accept after examination all the listed items, documents and materials. The Purchasers agree to complete the test and
acceptance after examination provided in this section within 10 Business Days after the date hereof and the Sellers shall provide assistance. Unless otherwise proved that the Sellers haven’t provided assistance in their best efforts, the
expiration of the aforesaid duration is deemed as the fulfillment of the test, accept after examination and check obligations by the Sellers provided in this section 

 

	 	(g)	The Sellers have executed related Intellectual Property Rights Transfer Agreement with the VIE Company, pursuant to which the Sellers have unconditionally and
irrevocably transferred all and any of their intellectual property rights related to the 7Road Group and its business or that may affect the business of the 7Road Group, to the VIE Company free of charge, whether or not the creation and improvement
of such intellectual property rights are made independently or jointly, during working time or other time, at the place of business of the 7Road Group or other places. With regard to any transfers that require registration and/or approval of
Governmental Department, the Sellers, together with related Parties, have submitted such transfer agreements and other related application materials to the competent intellectual property rights administration department for registration of such
transfers, which applications have been formally accepted by such department. 

  

	 	(h)	Ben, Meng Shuqi has confirmed to stay in his post for a period of at least one year after the Closing Day. 

 

	 	(i)	No Governmental Departments or regulatory bodies of the PRC or any other jurisdictions have released, formulated or implemented any laws, regulations, rules, orders or
notices prohibiting the transactions hereunder. No pending litigation, arbitration, dispute, investigation or any other pending legal proceedings or matters which prohibit or cause Material Adverse Changes to the transactions hereunder or cause the
invalidity or unenforceability of this Agreement. 

  

	 	(j)	No material change has happened to the capital or ownership of the 7Road Group and no Material Adverse Change, bankruptcy, insolvency or failure to pay any due and
payable debts have happened to the 7Road Group. 

  
 15 

	 	(k)	In the case that before the acquisition of shares in the VIE Company by Gamease Age, the removal of the pledge of equity shares in the VIE Company held by the Existing
Shareholders of the VIE Company, or execution of any agreement or document by the WFOE and the Existing Shareholders of the VIE Company, are required by the Industrial and Commercial Administration, the Existing Shareholders of the VIE Company have
finished the aforesaid work as requested by the Industrial and Commercial Administration. 

  

	 	(l)	The Existing Shareholders of the Cayman Company have caused the Cayman Company to issue a Register of Members and a Register of Directors and Officers, both of which
have been validly registered, certified and updated. 

  

	 	(m)	The Existing Shareholders of the VIE Company have caused the VIE Company to issue a Register of Members that the Gamease Age has been registered as the sole shareholder
of the VIE Company. Moreover, the Existing Shareholders of the VIE Company and the VIE Company have submitted all necessary application documents with respect to the transaction of the transfer of shares in the VIE Company hereunder, the related
changes of shareholders, directors, supervisors and senior managers of the VIE Company and the filing of any amendment of its articles of association, and such applications have been formally accepted. Applications for registration of any changes of
directors, supervisors and senior managers of the WFOE have also been duly submitted to Industrial and Commercial Administration and such applications have been formally accepted. 

 

	 	(n)	The Existing Shareholders of the Cayman Company have caused the Cayman Company to issue a valid share certificate, which proves that all the issued shares of the Cayman
Company are held by Gamease Hong Kong. 

  

	 	(o)	The Existing Shareholders of the VIE Company have caused and cooperated with the VIE Company to have successfully obtained the written notices issued by the Industrial
and Commercial Administration to indicate its approval of the change of registration and filing, regarding the transaction of the transfer of shares in the VIE Company hereunder and the related changes of shareholders and amendment of the articles
of association, and the VIE Company has been issued a new Business License (if required). 

  
 16 

	4.2	Conditions precedent for the Sellers to agree on the Closing 

 The Sellers’ obligations to sell the Target Shares to the Purchasers are subject to the fulfillment, on or before the Closing Day (unless otherwise waived by the Sellers in writing), of the
conditions provided in following Section 4.2(a) to 4.2(c). 
  

	 	(a)	All representations and warranties made by the Purchasers in Article 6 of this Agreement are true, correct and without any material omissions, as of the date of this
Agreement and the Closing Day. 

  

	 	(b)	The Purchasers have duly fulfilled all obligations and complied with all undertakings which shall be fulfilled and undertaken before the Closing Day pursuant to this
Agreement. 

  

	 	(c)	No Governmental Departments or regulatory bodies of the PRC or any other jurisdictions have released, formulated or implemented any laws, regulations, rules, orders or
notices prohibiting the transactions hereunder. No pending litigation, arbitration, dispute, investigation or any other pending legal proceedings or matters which prohibit or cause Material Adverse Changes to the transactions hereunder or cause the
invalidity or unenforceability of this Agreement. 

  

	V.	Representations and Warranties of The Sellers 

 The Sellers severally and jointly represent and warrant to the Purchasers that, on the date hereof and as of the Closing Day: 

 

	5.1	Qualifications, powers and rights 

  

	 	(a)	If any of the Sellers is a company 

  

	 	(i)	Such Seller is a legal person incorporated and effectively existing under the laws of the place of registration. 

 

	 	(ii)	Such Seller has complete, exclusive, legitimate and effective rights and ownership of its Target Shares, free from any Encumbrance. Except for the Target Shares, such
Seller does not hold any other shares/equity interests in the 7Road Group in any form or any rights convertible into any equity interests/shares in the 7Road Group (including but not limited to Restricted Share or RSUs settleable into Class A
Ordinary Share in the Cayman Company). 

  
 17 

	 	(b)	If any of the Sellers is a natural person 

  

	 	(i)	He/she is a PRC citizen with legitimate rights and capability to sign this Agreement and perform his or he obligations under this Agreement. 

 

	 	(ii)	He/she has complete, exclusive, legitimate and effective rights and ownership of his/her Target Shares from any Encumbrance (expect the pledge under the VIE
Agreements). Except for the Target Shares, such Seller does not hold any other shares/equity interests in the 7Road Group in any form or any rights convertible into equity interests/shares in the 7Road Group. 

 

	5.2	Authorization, validity of this Agreement 

  

	 	(a)	If any of the Sellers is a company 

  

	 	(i)	Competent governing body of the Seller has officially held necessary meetings and approved this Agreement and the consummation of the transactions under this Agreement.

  

	 	(ii)	The Seller has complete rights and authority to execute and deliver this Agreement and consummate the transactions under this Agreement. This Agreement has an effective
binding force on the Seller once signed and delivered by the Seller. 

  

	 	(iii)	The execution, delivery and performance of this Agreement by the Seller and the consummation of the transactions hereunder or complying with the provisions of this
Agreement will not (A) conflict with or cause violation of effective articles of association or similar organizational documents of such Seller or the 7Road Group; (B) cause or constitute violation to any agreement clauses, conditions or
stipulations to which the Seller is a party; (C) violate any approval documents, orders, laws, regulations or rules applicable to the Seller, the 7Road Group or their respective properties or assets. 

 

	 	(b)	If any of the Sellers is natural person 

  

	 	(i)	This Agreement has a lawful, effective binding force on the Seller once it is duly executed by the Seller. 

 

	 	(ii)	The execution and performance of this Agreement by the Seller will not violate or conflict with any applicable law, any agreement to which the Seller is a party or
which has any binding effect on the property of the Seller, or any judgment, award, or decision by regulatory authorities. 

  
 18 

	5.3	Business and operation of the 7Road Group 

  

	 	(a)	The 7Road Group does not violate its articles of association and other corporate organizational documents or all the applicable PRC laws and regulations. There is no
necessary government licenses, approvals, authorizations or permissions (collectively referred to as the “Governmental Approvals”) that have not been obtained in connection with the operation of the current important business of the
7Road Group and each of the Governmental Approvals remains completely effective. There is no pending or, to the knowledge of the Sellers, threatened legal proceedings that may cause any revocation, cancellation, suspension or revision to the
Governmental Approvals. 

  

	 	(b)	The operation of business of the 7Road Group, especially the VIE Company is in good status, while the computer system and technology platform functions and maintains in
normal conditions, where no material defects or hidden dangers exist. 

  

	 	(c)	All the joint operation agreements on the game research, development and operation between the 7Road Group and domestic game operation websites and the licensed
operation agreements or joint operation agreements between the 7Road Group and overseas game operators have been properly and effectively executed. The 7Road Group complies strictly with such agreements and other agreements, contracts and other
legal documents that may have material impacts on the current business and operation of the 7Road Group and has not breached any such agreements, contracts or legal documents. 

 

	 	(d)	The 7Road Group does not have the intention of investing abroad, co-investing with any third party, merging, acquiring, dividing or jointly operating with others, or
signing any related documents; and there is no third party’s right which affect and restrict the transactions provided in this Agreement. 

  

	5.4	Compliance 

  

	 	(a)	The 7Road Group has never committed any criminal offense, infringing activity or conducted any other behaviors violating any law and regulation or obligation where such
behaviors relate to and have material impact on the 7Road Group or its business. 

  
 19 

	 	(b)	The 7Road Group is under no negative government investigation or inquiry, and there is no factual basis that may lead to such investigation or inquiry.

  

	 	(c)	There is not any failure of meeting any requirement of related Governmental Departments or any dispute with any Governmental Department, where such failure or dispute
will cause Material Adverse Effect on the 7Road Group or its assets. 

  

	5.5	Assets of the 7Road Group 

  

	 	(a)	Assets of the 7Road Group are not subject to eminent domain by any governmental authority or any plan for possessing or collecting all or part of such assets. The
construction and location of any asset of the 7Road Group and the ownership or use of such assets and assets themselves have not violated any provision of any law and regulation or other legal requirements. All such assets owned or used by the 7Road
Group have been properly maintained and repaired and can be used for the purpose for which such assets were designed, obtained and used, and are in good conditions as of this Agreement. 

 

	 	(b)	As to the real estates and movable properties (collectively referred to as the “Properties”) used in the operations of business, the 7Road Group has
complete and transferable ownership or legitimate and effective leasehold rights, free from any rights and interests of any third party. There is no pending, or to the knowledge of the Sellers, threatened legal proceedings related to the Properties
such as confiscation, forced transfer, freezing or other similar procedures. 

  

	 	(c)	The 7Road Group owns all necessary intellectual property rights for the operation of its current business (including but not limited to the whole game business
operation), including but not limited to the legal right, the right of use through licenses or the right of use through other legal means of the confidential and/or proprietary information, trade secrets, trademarks, software copyrights and any
other intellectual property rights. The Sellers do not own any other intellectual property rights in connection with the 7Road Group and its operation of business (registered or not), except for those to be transferred to the 7Road Group as defined
above in Section 4.1(h). The intellectual property rights transferred by the Sellers to the 7Road Group in accordance with Section 4.1(h) are free from any pledge, mortgage, guarantee or any other rights of third party, and the foresaid
transfer does not require any approval of or authorization from any third party. 

  
 20 

	5.6	Information disclosure 

 The
Sellers have provided the Purchasers the information and materials, as necessary to be disclosed based on their reasonable judgment, which is required to complete the transactions under this Agreement. The aforesaid information and materials do not
contain any untrue statement of material facts and do not omit any statement of material facts. 
  

	5.7	Financial materials 

 Financial
statements of the 7Road Group are prepared according to applicable U.S. GAAP, and fairly present the financial status, operation performance and cash flow of the 7Road Group, which are correct in all material aspects. Except for the debts disclosed
in the financial statements, the 7Road Group has no other debts of any nature, including but not limited to: (i) any guaranty of any loan of others or similar obligations or responsibilities; and (ii) any financing services to any third
parties (including its clients and affiliates), such as providing loans or reaching an agreement to assist such third parties in obtaining loans. 
  

	5.8	Labor and Managers 

 Directors,
supervisors and senior managers of the 7Road Group nominated and/or appointed by the Sellers have performed their duties diligently, and are free from any incidence of violating their obligation to be honest and diligent toward the 7Road Group or
impairing the benefits of the 7Road Group, as well as any obligation of directors, supervisors and senior managers under any applicable law and regulation; articles of association, shareholders agreement and other organizational documents of the
members of the 7Road Group; any employment agreement and non-competition agreements signed by the aforesaid persons. 
 The WFOE
and the VIE Company have not violated any current effective PRC law and regulation on social insurance and housing accumulation funds, including all the requirements on payments of social insurance and housing accumulation funds for employees; there
is neither employment litigation or arbitration that may cause Material Adverse Effect on business, nor pending or threatened strikes and disputes with labor unions or other labor organizations. 

  
 21 

 Exhibit 4 of this Agreement provides a true, precise and complete name list of all key
employees in the business operation and management of the 7Road Group, which does not omit any material information. The aforesaid employees (except Johnny, Cao Kai, Kent, Yang Zhiyi, Justin, Long Chunyan, whose employment will be terminated on the
signing date of this Agreement as agreed to under this Agreement) properly remain in service and free from any dismissal or resignation. Exhibit 5 of this Agreement provides a true, precise and complete name list of all employees in-service of the
7Road Group as of January 1, 2013. 
  

	5.9	Equity incentive plan for employees 

 There is no other official or unofficial equity incentive plan or shareholding plan that binds the 7Road Group or affects the current or future equity structure of the 7Road Group except for the equity
incentive plan adopted by the Cayman Company in July, 2012 (“2012 Share Incentive Plan”). Incentive awards granted under the 2012 Share Incentive Plan have not been vested, and unless there is an IPO of the 7Road Group (as
contemplated in the Share Transfer Framework Agreement), no Restricted Share or RSUs issued or granted under such incentive plan will be vested or have any possibility of being vested or settled. 

 

	5.10	Tax 

 There are neither pending
or threatened investigations or other similar tax related proceedings causing Material Adverse Effect on the 7Road Group, nor any violations of laws and regulations on tax by the 7Road Group. Each member of the 7Road Group declares and pays tax in
accordance with laws and regulations and is free from any evasion or delay payment of tax or other violations of laws and regulations on tax. 
  

	5.11	Litigation 

 There are no legal
proceedings, arbitrations, disputes or other legal procedures which may cause significant losses to the 7Road Group or serious disturbances to the operation of its current business. 

 

	5.12	Consents 

 No consent to the
consummation of the transactions under this Agreement from any third party granted to the 7Road Group is necessary to be obtained, including the consent under any loan contract, guarantee contract and other material contracts. 

  
 22 

	5.13	Related party transactions 

Terms and conditions in each related party transaction of the 7Road Group are not less favorable to the 7Road Group than those with
independent third parties in similar transactions; and (i) the 7Road Group does not, directly or indirectly, owe any debt to its shareholders or their Affiliates; and (ii) no shareholder of the 7Road Group or their Affiliates owes any debt
to the 7Road Group. 
  

	5.14	No other agreements 

 Except for
those referred to in this Agreement (including the Share Transfer Framework Agreement, the Shareholders Agreement of the VIE Company, the Shareholders Agreement of the Cayman Company, Labor Contracts and Non-compete Agreements between the Sellers
and the VIE Company, the VIE Agreement), the Sellers and the 7Road Group have no other agreement or contract. 
  

	VI.	Representations and Warranties of the Purchasers 

 The Purchasers represent and warrant to the Sellers on the signing date of this Agreement, and as of the Closing Day: 
  

	6.1	Qualifications 

 Each of the
Purchasers is incorporated and effectively existing under applicable laws of its place of registration with a legal person status. 
  

	6.2	Authorization, validity of this Agreement 

 The Purchasers have complete rights and authority to execute and deliver this Agreement and consummate the transactions under this Agreement. This Agreement, after duly execution and submission,
constitutes legitimate, effective and binding obligations of the Purchasers in accordance with the terms hereof, and unless otherwise provided in applicable laws, it can be performed according to the terms of this Agreement. 

  
 23 

	6.3	Approval by competent authorization organs 

 The competent governing bodies of the Purchasers have held relevant meetings and approved this Agreement and the transactions under this Agreement. 

 

	6.4	No violations of laws and no defaults 

 The execution, delivery and performance of this Agreement and the consummation of the transactions hereunder or complying with the provisions of this Agreement by the Purchasers will not (i) conflict
with or cause violation of any provision provided in the respective effective articles of association of the Purchasers; (ii) cause violation of terms, conditions or stipulations of material agreements to which the Purchasers are parties;
(iii) violate approval documents, governmental documents, orders, laws, regulations or rules applicable to the Purchasers or its any property or asset. Notwithstanding the foregoing, if violations and defaults under above (ii) and
(iii) will not, individually or collectively, cause any Material Adverse Effect to the transactions hereunder, they will not be deemed as violations of this Section. 

 

	6.5	Other Warranties 

 The Purchasers
have sufficient funding and capability to pay the Sellers for the Acquisition Consideration under this Agreement. 
  

	VII.	Covenants of the Sellers 

  

	7.1	Pre-Closing Covenants 

 The
Sellers covenant, severally and jointly, to the Purchasers that, as of the Closing Day, they shall: 
  

	 	(a)	ensure the fulfillment of the conditions precedent provided in Section 4.1, including but not limited to (i) taking necessary measures to ensure the execution
and delivery of documents relating to the conditions precedent to which the Sellers are parties; (ii) Ben, Meng Shuqi having agreed to remain in his current position for at least one year from the Closing Day; (iii) ensuring that the
important documents, materials, and items stipulated in Section 4.1 have been delivered before the Closing, and the arrangements for the Purchasers to accept the business and assets after examination before the Closing are properly made; and
(iv) having made reasonable and necessary efforts to assist the Cayman Company and the VIE Company to complete the registrations of the transfers of the Target Shares, in accordance with applicable laws at the relevant registration authority
and the department of industry and commerce administration, in order to complete the all registration and share transfer procedures of all the Target Shares transferred to the Purchasers hereunder; 

  
 24 

	 	(b)	make best efforts to assist the 7Road Group to continue its business in the same manner as it did on or before the signing date of this Agreement in order to assist to
avoid any changes detrimental to the operation and financial status of the 7Road Group; make commercially reasonable and necessary efforts to assist the 7Road Group to comply with applicable laws in all material aspects and to keep its business and
its relations with clients, cooperators, creditors and employees in a regular way; and assist to maintain the stability of the assets of the 7Road Group; 

  

	 	(c)	unless for purposes of taking actions to effectuate this Agreement, to meet the need of the this Agreement or to conduct business operations, any acts or omissions
procuring, causing and proposing the 7Road Group to conduct the following are prohibited (unless the Purchasers have already been aware of and approved such matters): (i) signing agreements or making commitments with value over RMB0.5 million
Yuan; (ii) signing, revising, terminating any contract/commitment, or reaching any agreement or making any commitment, or borrowing money, or assuming any other debt; (iii) revising organizational documents and accounting policies of the
7Road Group (with the exception of revisions required by any law, provision or rule); (iv) providing any guaranty of any obligations of a third party, or signing any guarantee, compensation or other agreements to create any security interest
over the assets or business of the 7Road Group; (v) increasing or decreasing the registered capital of the 7Road Group, or commencing any reorganization, bankruptcy or any procedure to terminate its business ; (vi) canceling, exempting,
relieving or terminating its claims against any person, or concerning any pending litigation, arbitration and dispute, commencing any conciliation procedures; (vii) selling, leasing, licensing, transferring or disposing any asset (including but
not limited to intellectual property rights) or changing any of its current business; or (viii) declaring or distributing any bonus or other distributions; 

 

	 	(d)	submit all documents or items to the Purchasers in a timely manner as required on and before the Closing Day under this Agreement; in order to meet the requirements
under Section 4.1 regarding testing, acceptance after examination and inventory, the Sellers shall cause the technology, business, finance, human resource, legal and other relevant departments of the 7Road Group to prepare the items, documents
and materials involved in the foresaid procedures for the acceptance after examination and handover; 

  
 25 

	 	(e)	Johnny, Cao Kai, Kent, Yang Zhiyi, Justin, Long Chunyan and Ben, Meng Shuqi agree, on a joint and several basis, from the signing date of this Agreement until the
second anniversary date of the Closing Day, without a prior written consent by the Purchasers, not to seek, allure, cause or permit, or assist others to seek, allure, cause or permit, or, in the activities supporting the foresaid matters, liaise
with, any employee of the 7Road Group to terminate his employment with the 7Road Group. Johnny, Cao Kai, Kent, Yang Zhiyi, Justin, Long Chunyan and Ben, Meng Shuqi agree, on a joint and several basis, from the signing date of this Agreement until
the second anniversary date of the Closing Day, in respect of the following employees of the 7Road Group: (a) all the in-service 7Road Group employees as of January 1, 2013 as listed in Exhibit 5; (b) all the employees employed by the
7Road Group after January 1, 2013; and (c) any key employee of the 7Road Group listed in Exhibit 4, without a prior written consent by the Purchasers, not to, nor procure any entity or individual which they control, directly or indirectly
invest in or co-operate in any method (including being an owner, shareholder, partner, director, manager, adviser or consultant) to: (a) enroll, accept; or (b) assist others to enroll, accept, such employees, whether or not such employees
will be accepted as employees, investors, shareholders, partners, directors, managers, advisers or consultants or in any other identities; 

  

	 	(f)	ensure that Ben, Meng Shuqi (after his resignation as a director but keeping his other positions) shall remain in his current positions for a period of at least 1 year
after the Closing Day. 

  

	 	(g)	The Sellers make the reasonable best efforts to assist the Purchasers incompletely taking over the 7Road Group, and to assist the 7Road Group in achieving a smooth
transition of its business operation and management. 

  

	7.2	Post-Closing Obligations 

 The Sellers covenant,
on a joint and several basis, that after the Closing Day, they shall: 
  

	 	(a)	continue to perform the covenants provided in Section 7.1(e) and 7.1(g); 

 

	 	(b)	 in respect of the intellectual property rights transfer matters provided in Section 4.1(h), if it is objectively impossible to complete the
registration/ratification of the right-holder changes with intellectual property rights administration departments prior to the Closing Day, the efforts to complete such matters (including but not limited to possible

  
 26 

	 	
requirements by government administration department and supplements of relevant materials) should continue after the Closing. The Sellers shall complete all foresaid registration/ratification
procedures no later than six-month anniversary date of the Closing Day, to effectively transfer the intellectual property rights to the 7Road Group; 

  

	 	(c)	after the Closing Day, the Sellers shall comply with the requirement of Notice of the State Administration of Foreign Exchange on Relevant Issues concerning Foreign
Exchange Administration for Domestic Residents to Engage in Financing and in Return Investment via Overseas Special Purpose Companies as well as the detailed rules for the implementation of such Notice, by filing applications for the cancellation of
foreign exchange registration of abroad investment by the individuals with the Shenzhen Branch of the State Administration of Foreign Exchange as soon as possible since they no longer hold the shares of the Cayman Company. Such cancellation shall be
completed no later than three months after the Closing Day, unless any delay of such cancellation was caused by reasons that cannot be ascribed to the Sellers, but under any event should such cancellation be completed no later than the six-month
anniversary date of the Closing Day. 

  

	VIII.	Covenants of the Purchasers 

  

	8.1	Pre-Closing Covenants 

  

	 	(a)	Take necessary measures to ensure the signing and submission of documents relating to the conditions precedent to which they are parties; 

 

	 	(b)	Pay the Acquisition Consideration in accordance with this Agreement. 

  

	IX.	Default and Indemnifications 

 Unless otherwise provided in this Agreement, if a Party (referred to as the “Breaching Party”) fails to fulfill the obligations under this Agreement or makes untrue, inaccurate or
misleading representations and warranties which violate this Agreement, such Breaching Party shall indemnify other non-breaching parties (referred to as the “Non-Breaching Parties”) for any expenses, losses, liabilities, damage
compensation and reasonable expenditures incurred from such breaches, and: 

  
 27 

	 	(a)	if the foregoing breach is committed by more than one Party, each Breaching Party shall indemnify for the collective expenses, losses, responsibilities, damage
compensations, disbursements and requests with other Breaching Parties on a joint and several basis; 

  

	 	(b)	in respect of the indemnification responsibilities of any of the Sellers under this Agreement, the other Sellers have an obligation to bear them on a joint basis;

  

	 	(c)	the Purchasers who delay the payment of Acquisition Consideration without good reasons shall pay an additional 0.05% of the account payable per day to compensate for
breaching. 

 The amount of expenses, losses, liabilities, damage compensations and reasonable expenditures caused
by any default of one Party to other Parties (referred to as the “Amount of Loss”) shall be determined according to the enforceable legal documents including judgment, arbitration award, verdict, ruling and decision of punishment
relating to the default activities of the Breaching Party issued by competent court, arbitration authority, other dispute resolution organizations or governmental authorities. If the Amount of Loss cannot be identified through the foregoing way,
then the Parties agree to settle the disputes according to the methods and procedures of resolution of disputes provided in Article 11. 
 The indemnification set forth in Section 9.1 (a) is additional, which shall not restrict other rights that may be acquired by Non-Breaching Parties according to this Agreement or current laws.
The Parties acknowledge and agree that if any of the Parties fails to perform as provided in the specified articles of this Agreement, which may cause irreparable losses to the other Party, Non-Breaching Parties may not be adequately compensated
solely by damages due to the breach of contract of any of the Parties. Therefore, besides any other legitimate rights and remedies, Non-Breaching Parties are entitled to enforce this Agreement through a verdict of substantial performance, and to
obtain the temporary, preliminary and permanent injunctions in order to prevent any breach or potential breach of this Agreement by the other Party. 

  
 28 

	X.	Termination 

  

	10.1	Termination due to defaults 

  

	 	(a)	Unless otherwise provided in this Agreement, if any Party violates any material obligation under or provided by this Agreement, or makes any representation and warranty
under or provided by this Agreement that are not true, not accurate, or misleading (considered as material violations of this Agreement) and does not rectify its violations within 15 days upon receiving written notification(or if such violations
cannot be rectified, upon receiving the notification), any other Party, without prejudice to any other possible existing rights, may notify the other Parties in writing to terminate this Agreement before the Closing Day. 

 

	 	(b)	Any Party that terminates this Agreement according to Section 10.1 will not affect its rights to hold the Breaching Party liable according to provisions of Article
9 and laws. 

  

	10.2	Termination due to Material Adverse Changes and non-completion of conditions 

 Without prejudice to any other rights under this Agreement (including but not limited to any claims for the indemnifications of the Sellers for any default of their obligations), the Purchasers may notify
the other Parties in writing to terminate this Agreement, if: 
  

	 	(a)	as of the 120th day after the signing date of this Agreement, any condition precedent still cannot be met and the Purchasers decide not to waive such unfulfilled
condition precedent; or 

  

	 	(b)	if any Material Adverse Changes occur before the Closing Day, and within 30 days after the issuance of written notification indicating such Material Adverse Changes by
the Purchasers to the other Parties, relevant Parties fail to reach any mutually acceptable solutions in writing. 

  

	10.3	Effect of Termination 

 If any
Party terminates this Agreement pursuant to the terms of this Agreement, the Parties will be exempted from their respective obligations under this Agreement except for Article 5 (Representations and Warranties of the Sellers), Article
6(Representations and Warranties of the Purchasers), Article 9 (Breach and Indemnity), Article 10 (Termination), Article 11 (Applicable Law and Resolution of Disputes), Section 12.2 (Notice), Section 12.3 (Confidentiality),
Section 12.6 (Severability) and Section 12.7 (Non-waiving of rights). All above mentioned articles shall continue to be in full force and effect after the termination of this Agreement. 

  
 29 

	XI.	Applicable Law and Resolution of Disputes 

  

	11.1	Applicable law 

 The effect,
interpretations and performance of this Agreement shall be governed by the laws of the PRC. 
  

	11.2	Consultation 

 The Parties shall
first settle any disputes relating to interpretations or fulfillment of this Agreement through friendly consultation. 
  

	11.3	Arbitration 

 If any dispute
cannot be settled in a way acceptable to the relevant Parties within 60 days after the first consultation, such dispute shall be submitted to Shanghai International Economic and Trade Arbitration Commission which locates in Shanghai for final
settlement. Arbitration shall be carried out according to then effective arbitration rules which are incorporated into herein by reference. Arbitration award shall be final and binding upon the relevant Parties. 

 

	XII.	Miscellaneous 

  

	12.1	Revision and amendment 

According to applicable laws, any article of this Agreement can be revised, amended or supplemented in writing by the relevant Parties
before the Closing Day (referred to as the “Supplemental Agreement”). If there are any conflicts between the Supplemental Agreement and this Agreement, the Supplemental Agreement shall prevail. 

Unless provided otherwise in this Agreement, this Agreement does not exclude, limit or impact Parties’ rights to hold other Parties
liable for breaching the contract under other agreements such Parties made prior to this Agreement. 

  
 30 

	12.2	Notice 

 All notices and other
communications under this Agreement shall be made in writing. If such are delivered to a Party by hand or sent by facsimile (must be confirmed), or sent by registered letter, or sent by express mail service (such as express postal service) to the
address given for such Parties below (or such other address for such relevant Parties as shall be specified by like notice to the notifying Party), it shall be deemed delivered or made. 

Johnny, Cao Kai 

Address: * ; 

Tel.: * 
 Zip
code: 518000 
 E-mail: * 
 Kent, Yang Zhiyi 
 Address: *; 

Tel.: * 
 Zip
code: 518000 
 E-mail: * 
 Justin, Long Chunyan 
 Address: * ; 

Tel.: * 
 Zip
code: 518000 
 E-mail: * 
 Ben, Meng Shuqi 
 Address: *; 

Tel.: * 
 Zip
code: 518000 
 E-mail: * 
 BURGEON MAX LIMITED 
 Address: *; 

Tel.: * 
 Zip
Code: 518000 
 E-mail: * 
 The symbol ‘ * ’ in this exhibit indicates places where information has been omitted pursuant to a request for confidential treatment and filed separately with the SEC. 

  
 31 

 CADGWITH INVESTMENTS LIMITED 

Address: *; 

Tel.: * 
 Zip
Code: 518000 
 E-mail: * 
 DOUBLE MERITS HOLDINGS LIMITED 
 Address: *; 

Tel.: * 
 Zip
code: 518000 
 E-mail: * 
 EURO LOGISTICS LIMITED 
 Address: *; 

Tel.: * 
 Zip
code: 518000 
 E-mail: * 
 Beijing Gamease Age Digital Technology Co., Ltd. 
 Address: 2F, East Wing, Jingyan
Hotel, No.29 Shi Jing Shan Road, Shi Jing Shan District, Beijing; 
 Fax No.: 010- 68870371 

Tel.: * 
 Zip
code: 100043 
 E-mail: alex@cyou-inc.com 
 Changyou.com Webgames (HK) Limited 
 Address: 2F, East Wing, Jingyan Hotel, No.29
Shi Jing Shan Road, Shi Jing Shan District, Beijing 
 Fax No.: 010- 68870371 

Tel.: * 
 Zip
code: 100043 
 E-mail: alex@cyou-inc.com 
 The symbol ‘ * ’ in this exhibit indicates places where information has been omitted pursuant to a request for confidential treatment and filed separately with the SEC. 

  
 32 

 7Road. Com Limited 
 Address: 7F, Main Building, Matsunichi Peak Tower, No. 9996, Shennan 
 Road,
Nan Shan District, Shenzhen City, Guangdong Province; 
 Tel.: 0755-61669777 

Zip code: 518057 

E-mail: tim.luo@7road.com 
 Shenzhen 7Road Network Technology Co., Ltd. 
 Address: 7F, Main Building,
Matsunichi Peak Tower, No. 9996, Shennan 
 Road, Nan Shan District, Shenzhen City, Guangdong Province; 

Fax No.: 0755-86199356 
 Tel.: 0755-86199356 
 Zip code: 518057 

Shenzhen 7Road Technology Co., Ltd. 
 Address: 8-9F, Main Building, Matsunichi Peak Tower, No. 9996, Shennan 
 Road,
Nan Shan District, Shenzhen City, Guangdong Province; 
 Fax No.: 0755-86199356 

Tel.: 0755-86199356 
 Zip code: 518057 
  

	12.3	Confidentiality 

 The Sellers or
any of its Affiliates shall keep confidential any nonpublic information related to the 7Road Group (including but not limited to the 7Road Group and its business, finance, products, technologies, staff, and other subject matters) as well as all
information related to the existence of this Agreement (or any other transaction agreements) or the subject matters hereof or thereof (referred to as “Confidential Information”). Lacking of the Purchasers’ prior review and
written consent, the Sellers or any of its Affiliates shall not release any information, notice and declaration, or communicate with any news media in respect of Confidential Information. The range of such review includes but not limited to the
timing and content of the release or public declaration or communication of such news. The Sellers shall not slander, damage, injure and make any negative comments on the 7Road Group and the Purchasers in any media. 

The Purchasers shall not slander, damage, injure and make any negative comments on the Sellers in any media. 

  
 33 

	12.4	Effectiveness 

 This Agreement
becomes effective immediately upon its proper execution by the Parties. 
  

	12.5	Counterparts 

 This Agreement is
prepared in Chinese. This Agreement has 15 signed counterparts and each Party holds one. The remaining one counterpart is reserved to deliver to the competent industrial and commercial administration for alteration registration (if required). Each
counterpart is with the same legal effect. 
  

	12.6	Severability 

 If any article of
this Agreement is found to be as invalid or unenforceable after the execution of this Agreement or becomes invalid or unenforceable due to any legislative changes, the remaining parts remain unaffected. 

 

	12.7	Non-waiving of rights 

 Any Party
failing to or delaying the exercise of any right or power under this Agreement shall not be deemed to waive such rights or powers. If any Party exercises any right or power independently or partially, it will not affect the exercise of such rights
or powers in the future. 
  

	12.8	Assignment 

 Any Party shall not
transfer part of or all rights, interests, responsibilities or obligations under this Agreement in any method without prior written consent by the other Party. 
 [Signature Page Follows] 

  
 34 

 (This is the signature page of the Acquisition Framework Agreement relating to the equity interests in
7Road. com Limited and Shenzhen 7Road Technology Co., Ltd. This Agreement is signed by BURGEON MAX LIMITED, CADGWITH INVESTMENTS LIMITED, DOUBLE MERITS HOLDINGS LIMITED, EURO LOGISTICS LIMITED, Johnny, Cao Kai, Kent, Yang Zhiyi, Justin, Long
Chunyan, Ben, Meng Shuqi, Beijing Gamease Age Digital Technology Co., Ltd., Changyou.com Webgames (HK) Limited, 7Road.com Limited, Shenzhen 7Road Network Technology Co., Ltd., as well as Shenzhen 7Road Technology Co., Ltd.) 

BURGEON MAX LIMITED 
 Authorized
representative:                                      
               
 Signed
by:                                        
             

  
 35 

 (This is the signature page of the Acquisition Framework Agreement relating to the acquisition of equity
interests in 7Road. com Limited and Shenzhen 7Road Technology Co., Ltd. This Agreement is signed by BURGEON MAX LIMITED, CADGWITH INVESTMENTS LIMITED, DOUBLE MERITS HOLDINGS LIMITED, EURO LOGISTICS LIMITED, Johnny, Cao Kai, Kent, Yang Zhiyi, Justin,
Long Chunyan, Ben, Meng Shuqi, Beijing Gamease Age Digital Technology Co., Ltd., Changyou.com Webgames (HK) Limited, 7Road.com Limited, Shenzhen 7Road Network Technology Co., Ltd., as well as Shenzhen 7Road Technology Co., Ltd.) 

CADGWITH INVESTMENTS LIMITED 
 Authorized
representative:                                      
               
 Signed
by:                                        
             

  
 36 

 (This is the signature page of the Acquisition Framework Agreement relating to the equity interests in
7Road. com Limited and Shenzhen 7Road Technology Co., Ltd. This Agreement is signed by BURGEON MAX LIMITED, CADGWITH INVESTMENTS LIMITED, DOUBLE MERITS HOLDINGS LIMITED, EURO LOGISTICS LIMITED, Johnny, Cao Kai, Kent, Yang Zhiyi, Justin, Long
Chunyan, Ben, Meng Shuqi, Beijing Gamease Age Digital Technology Co., Ltd., Changyou.com Webgames (HK) Limited, 7Road.com Limited, Shenzhen 7Road Network Technology Co., Ltd., as well as Shenzhen 7Road Technology Co., Ltd.) 

DOUBLE MERITS HOLDINGS LIMITED 
 Authorized
representative:                                      
               
 Signed
by:                                        
             

  
 37 

 (This is the signature page of the Acquisition Framework Agreement relating to the equity interests in
7Road. com Limited and Shenzhen 7Road Technology Co., Ltd. This Agreement is signed by BURGEON MAX LIMITED, CADGWITH INVESTMENTS LIMITED, DOUBLE MERITS HOLDINGS LIMITED, EURO LOGISTICS LIMITED, Johnny, Cao Kai, Kent, Yang Zhiyi, Justin, Long
Chunyan, Ben, Meng Shuqi, Beijing Gamease Age Digital Technology Co., Ltd., Changyou.com Webgames (HK) Limited, 7Road.com Limited, Shenzhen 7Road Network Technology Co., Ltd., as well as Shenzhen 7Road Technology Co., Ltd.) 

EURO LOGISTICS LIMITED 
 Authorized
representative:                                      
               
 Signed
by:                                        
             

  
 38 

 (This is the signature page of the Acquisition Framework Agreement relating to the equity interests in
7Road. com Limited and Shenzhen 7Road Technology Co., Ltd. This Agreement is signed by BURGEON MAX LIMITED, CADGWITH INVESTMENTS LIMITED, DOUBLE MERITS HOLDINGS LIMITED, EURO LOGISTICS LIMITED, Johnny, Cao Kai, Kent, Yang Zhiyi, Justin, Long
Chunyan, Ben, Meng Shuqi, Beijing Gamease Age Digital Technology Co., Ltd., Changyou.com Webgames (HK) Limited, 7Road.com Limited, Shenzhen 7Road Network Technology Co., Ltd., as well as Shenzhen 7Road Technology Co., Ltd.) 

Johnny, Cao Kai 
 Signed
by:                                        
             

  
 39 

 (This is the signature page of the Acquisition Framework Agreement relating to the equity interests in
7Road. com Limited and Shenzhen 7Road Technology Co., Ltd. This Agreement is signed by BURGEON MAX LIMITED, CADGWITH INVESTMENTS LIMITED, DOUBLE MERITS HOLDINGS LIMITED, EURO LOGISTICS LIMITED, Johnny, Cao Kai, Kent, Yang Zhiyi, Justin, Long
Chunyan, Ben, Meng Shuqi, Beijing Gamease Age Digital Technology Co., Ltd., Changyou.com Webgames (HK) Limited, 7Road.com Limited, Shenzhen 7Road Network Technology Co., Ltd., as well as Shenzhen 7Road Technology Co., Ltd.) 

Kent, Yang Zhiyi 
 Signed
by:                                        
             

  
 40 

 (This is the signature page of the Acquisition Framework Agreement relating to the equity interests in
7Road. com Limited and Shenzhen 7Road Technology Co., Ltd. This Agreement is signed by BURGEON MAX LIMITED, CADGWITH INVESTMENTS LIMITED, DOUBLE MERITS HOLDINGS LIMITED, EURO LOGISTICS LIMITED, Johnny, Cao Kai, Kent, Yang Zhiyi, Justin, Long
Chunyan, Ben, Meng Shuqi, Beijing Gamease Age Digital Technology Co., Ltd., Changyou.com Webgames (HK) Limited, 7Road.com Limited, Shenzhen 7Road Network Technology Co., Ltd., as well as Shenzhen 7Road Technology Co., Ltd.) 

Justin, Long Chunyan 
 Signed
by:                                        
             

  
 41 

 (This is the signature page of the Acquisition Framework Agreement relating to the equity interests in
7Road. com Limited and Shenzhen 7Road Technology Co., Ltd. This Agreement is signed by BURGEON MAX LIMITED, CADGWITH INVESTMENTS LIMITED, DOUBLE MERITS HOLDINGS LIMITED, EURO LOGISTICS LIMITED, Johnny, Cao Kai, Kent, Yang Zhiyi, Justin, Long
Chunyan, Ben, Meng Shuqi, Beijing Gamease Age Digital Technology Co., Ltd., Changyou.com Webgames (HK) Limited, 7Road.com Limited, Shenzhen 7Road Network Technology Co., Ltd., as well as Shenzhen 7Road Technology Co., Ltd.) 

Ben, Meng Shuqi 
 Signed
by:                                        
             

  
 42 

 (This is the signature page of the Acquisition Framework Agreement relating to the equity interests in
7Road. com Limited and Shenzhen 7Road Technology Co., Ltd. This Agreement is signed by BURGEON MAX LIMITED, CADGWITH INVESTMENTS LIMITED, DOUBLE MERITS HOLDINGS LIMITED, EURO LOGISTICS LIMITED, Johnny, Cao Kai, Kent, Yang Zhiyi, Justin, Long
Chunyan, Ben, Meng Shuqi, Beijing Gamease Age Digital Technology Co., Ltd., Changyou.com Webgames (HK) Limited, 7Road.com Limited, Shenzhen 7Road Network Technology Co., Ltd., as well as Shenzhen 7Road Technology Co., Ltd.) 

Beijing Gamease Age Digital Technology Co., Ltd. 
 Legal representative: 
 Signed
by:                                        
             

  
 43 

 (This is the signature page of the Acquisition Framework Agreement relating to the equity interests in
7Road. com Limited and Shenzhen 7Road Technology Co., Ltd. This Agreement is signed by BURGEON MAX LIMITED, CADGWITH INVESTMENTS LIMITED, DOUBLE MERITS HOLDINGS LIMITED, EURO LOGISTICS LIMITED, Johnny, Cao Kai, Kent, Yang Zhiyi, Justin, Long
Chunyan, Ben, Meng Shuqi, Beijing Gamease Age Digital Technology Co., Ltd., Changyou.com Webgames (HK) Limited, 7Road.com Limited, Shenzhen 7Road Network Technology Co., Ltd., as well as Shenzhen 7Road Technology Co., Ltd.) 

Changyou.com Webgames (HK) Limited 
 Authorized
representative:                                      
               
 Signed
by:                                        
             

  
 44 

 (This is the signature page of the Acquisition Framework Agreement relating to the equity interests in
7Road. com Limited and Shenzhen 7Road Technology Co., Ltd. This Agreement is signed by BURGEON MAX LIMITED, CADGWITH INVESTMENTS LIMITED, DOUBLE MERITS HOLDINGS LIMITED, EURO LOGISTICS LIMITED, Johnny, Cao Kai, Kent, Yang Zhiyi, Justin, Long
Chunyan, Ben, Meng Shuqi, Beijing Gamease Age Digital Technology Co., Ltd., Changyou.com Webgames (HK) Limited, 7Road.com Limited, Shenzhen 7Road Network Technology Co., Ltd., as well as Shenzhen 7Road Technology Co., Ltd.) 

7Road. com Limited 
 Authorized
representative:                                      
               
 Signed
by:                                        
             

  
 45 

 (This is the signature page of the Acquisition Framework Agreement relating to the equity interests in
7Road. com Limited and Shenzhen 7Road Technology Co., Ltd. This Agreement is signed by BURGEON MAX LIMITED, CADGWITH INVESTMENTS LIMITED, DOUBLE MERITS HOLDINGS LIMITED, EURO LOGISTICS LIMITED, Johnny, Cao Kai, Kent, Yang Zhiyi, Justin, Long
Chunyan, Ben, Meng Shuqi, Beijing Gamease Age Digital Technology Co., Ltd., Changyou.com Webgames (HK) Limited, 7Road.com Limited, Shenzhen 7Road Network Technology Co., Ltd., as well as Shenzhen 7Road Technology Co., Ltd.) 

Shenzhen 7Road Network Technology Co., Ltd. 

Legal
representative:                                      
               
 Signed
by:                                        
             

  
 46 

 (This is the signature page of the Acquisition Framework Agreement relating to the equity interests in
7Road. com Limited and Shenzhen 7Road Technology Co., Ltd. This Agreement is signed by BURGEON MAX LIMITED, CADGWITH INVESTMENTS LIMITED, DOUBLE MERITS HOLDINGS LIMITED, EURO LOGISTICS LIMITED, Johnny, Cao Kai, Kent, Yang Zhiyi, Justin, Long
Chunyan, Ben, Meng Shuqi, Beijing Gamease Age Digital Technology Co., Ltd., Changyou.com Webgames (HK) Limited, 7Road.com Limited, Shenzhen 7Road Network Technology Co., Ltd., as well as Shenzhen 7Road Technology Co., Ltd.) 

Shenzhen 7Road Technology Co., Ltd. 
 Legal
representative:                                      
               
 Signed
by:                                        
             

  
 47 

 Exhibit I: Domestic Separate Agreement 

  
 48 

 Exhibit II: Overseas Separate Agreement 

  
 49 

 Exhibit III: List of Matters Required to Be Accepted after Examination 

  
 50 

 Exhibit IV: Name List of Key Employees 

  
 51 

 Exhibit V: List of Employees In-Service on January 1, 2013 

  
 52

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