Document:

Exhibit 4.29

 

LOAN AGREEMENT

 

This Loan Agreement (this “Agreement”) is entered in Beijing, the People’s Republic of China (“PRC”, excluding the Hong Kong Special Administrative Region, the Macao Special Administrative Region and Taiwan, for purposes of this agreement) as of November 30, 2012

 

by and between the following parties:

 

(1)                                 LENDER: Renren Games Network Technology Development (Shanghai) Co., Ltd.

Registered Address: Room 276i, No. 668 Shangda Road, Baoshan District, Shanghai, PRC

Legal Representative: He Chuan

 

and

 

(2)                                 BORROWER: Liu Jian

PRC Identification Card No:

Address:

 

(individually, a “Party” and collectively, the “Parties”)

 

WHEREAS:

 

The Borrower had entered into a loan agreement (the “Prior Loan Agreement”) dated November 15, 2012 with Qianxiang Shiji Technology Development (Beijing) Co., Ltd. (“Qianxiang Shiji”) pursuant to which the Borrower borrowed from Qianxiang Shiji an aggregate principal amount of Three Million Renminbi (RMB3,000,000);

 

Qianxiang Shiji and the Lender entered into an Assignment and Assumption Agreement dated as of November 30, 2012 pursuant to which Qianxiang Shiji agreed to assign, and the Lender agreed to assume, the Lender’s obligations under the Prior Loan Agreement; and

 

Borrower desires to borrow from the Lender, and the Lender desires to lend to the Borrower, an aggregate principal amount of Three Million Renminbi (RMB3,000,000), pursuant to the terms and conditions set forth herein.

 

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

 

1.                                      Principal Amount of the Loan

 

Subject to the terms and conditions set forth in this Agreement, Lender has agreed to lend to the Borrower, the principal amount of RMB3,000,000 (the “Loan”). Such Loan shall be interest-free throughout the term of the Loan.

 

2.                                      Loan Terms

 

2.1                               The term for such Loan will be ten (10) years, calculated from the date when the Borrower actually draws the Loan. The term under this Agreement shall be automatically extended for another ten years unless written notice to the contrary is given by the Lender three months prior to the expiration of this Agreement.

 

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2.2                               The Lender and the Borrower jointly agree and confirm that the Borrower shall not repay the Loan in advance except with the Lender’s prior written approval or the expiration of this Agreement. The Borrower shall repay the Loan by using all the funds obtained by him from transferring all of the Borrower’s equity in Shanghai Renren Games Technology Development Co., Ltd., a company incorporated under the laws of the People’s Republic of China (“Shanghai Renren”) to Lender or to any other third party designated by the Lender. In case the funds received by the Borrower from transferring the aforesaid equity is subject to any tax or administrative expenses, the Borrower shall only be obliged to repay the net portion of such funds (after deducting any applicable tax and expenses) to the Lender.  When all of such Borrower’s equity in Shanghai Renren is transferred as stipulated above and if all the fund thereof is repaid to the Lender by the Borrower, all the outstanding Loan hereunder shall be regarded as repaid.

 

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

 

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

 

2.4.2                     The Borrower commits crime or is involved in crime;

 

2.4.3                     Any third party claims debt of the Borrower exceeding RMB 1,000,000 (RMB one million) which the Borrower is not able to repay;

 

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

 

2.4.5                     the Lender issues a written notice to the Borrower for repayment of the Loan.

 

3.                                      Conditions Precedent to the Disbursement of the Loan

 

3.1                               The Lender shall not be obliged to make any disbursement of the Loan unless all of the following conditions have been satisfied or waived by the Lender:

 

3.1.1                     All the representations and warranties made by the Borrower are correct, accurate, complete and not misleading.

 

3.1.2                     The Borrower is not in breach of the covenants and undertakings made by such Borrower in Section 5 hereof.

 

3.1.3                     The Parties have executed an Equity Option Agreement (“Option Agreement”), pursuant to which the Borrower grants to the Lender or its designated person (legal or natural) an exclusive option to purchase all of the Borrower’s equity interest in Shanghai Renren, to the extent permitted under PRC laws.

 

3.1.4                     The Parties have executed an Equity Interest Pledge Agreement (“Pledge Agreement”), pursuant to which the Borrower pledges all of his equity interest in Shanghai Renren to the Lender, to the extent permitted under PRC laws.

 

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4.                                      Representations and Warranties

 

4.1                               The Borrower makes the following representations and warranties to the Lender, and confirms that the Lender executes and performs this Agreement in reliance of such representations and warranties:

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

4.2.2                     The execution and performance of this Agreement by the Lender is in compliance with the power of the Lender. The Lender has taken proper measures and has gained authorizations and approvals from all third parties and governmental departments or agencies, to execute and perform its obligations under this Agreement in accordance with the limitations of the laws and contracts which are binding or bear influences over the Lender; and

 

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

 

5.                                      Covenants and Undertakings of Borrower

 

5.1                               The Borrower, as a shareholder of Shanghai Renren, hereby undertakes to, and shall cause Shanghai Renren, to observe the following terms with all efforts during the term of this Agreement:

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

5.1.8                     It shall not conduct any business that is beyond the normal course of business;

 

5.1.9                     It shall not change or dismiss an executive director or to dismiss and replace any senior management members;

 

5.1.10              It shall not make significant adjustment to its business operation model, marketing strategy, operation policy or client relationship; and

 

5.1.11              It shall not have any of its subsidiaries do any of the foregoing.

 

5.2                               The Borrower further commits to the Lender, during the term of this Agreement, as follows:

 

5.2.1                     he shall take all the measures to guarantee and maintain his identification and status as a shareholder of Shanghai Renren;

 

5.2.2                     he shall not transfer or dispose of any of his equity interest or other rights or powers pertinent to his equity interest in Shanghai Renren;

 

5.2.3                     he shall procure that the shareholders’ meeting of Shanghai Renren shall not pass any decision about its merger with or investment in any third party without the prior written consent of the Lender;

 

5.2.4                     he shall not carry out any action bearing material influences on the assets, business, obligations or liabilities of Shanghai Renren without prior written consent of the Lender;

 

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

 

5.2.6                     he shall strictly observe his commitments and guarantees under this Agreement and other related agreements.

 

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

 

5.3.1                     pledge all equity interest in Shanghai Renren held by the Borrower for the benefit of Lender to guarantee the due repayment of the Loan hereunder, and enter into the Pledge Agreement with Lender;

 

5.3.2                     deliver a power of attorney to appoint and authorize individuals designated by the

 

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Lender to exercise the rights and powers pertinent to the equity interest in Shanghai Renren held by the Borrower;

 

5.3.3                     confirm and agree that the Lender shall have the right to acquire or to designate any third party of its choice to acquire from time to time part or all of the equity interest of Shanghai Renren from the Borrower at an agreed price pursuant to the Option Agreement.

 

6.                                      Default

 

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

 

7.                                      Confidentiality

 

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

 

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

 

8.                                      Notices

 

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

 

9.                                      Governing Law and Dispute Settlement

 

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

 

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

 

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

 

10.                               Force Majeure

 

10.1                        Force Majeure refers to any accident which is beyond a Party’s control and is inevitable with the reasonable care of the other Party who shall be influenced,

 

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

 

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

 

11.                               Effective Date

 

This Agreement shall be effective upon its being signed by the Parties hereunder. Notwithstanding the foregoing, the Lender and the Borrower confirm that the Loan was duly and fully extended by the Lender prior to the execution of this Agreement.

 

12.                               Miscellaneous

 

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

 

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

 

12.3                        The Borrower shall not transfer his rights and obligations hereunder to any third party without the prior written consent of the Lender.

 

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

 

[The space below is intentionally left blank.]

 

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

 

 

	
LENDER:      Renren Games Network Technology Development (Shanghai) Co., Ltd.
    	
 
    
	
(Company Seal)
    	
 
    	
 
    
	
/seal/
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
By: 
    	
/s/ He Chuan
    	
 
    	
 
    
	
Authorized Representative: He Chuan
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
BORROWER: Liu Jian
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
By:
    	
/s/ Liu Jian
    	
 
    	
 
    

 

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[SIGNATURE PAGE TO LOAN AGREEMENT]

 

8Exhibit 4.30

 

BUSINESS OPERATIONS AGREEMENT

 

This Business Operations Agreement (this “Agreement”) is entered in Beijing, the People’s Republic of China (the “PRC”, excluding the Hong Kong Special Administrative Region, the Macao Special Administrative Region and Taiwan, for the purposes of this Agreement) and dated November 30, 2012 by and among the following parties:

 

(1)                                 PARTY A: Renren Games Network Technology Development (Shanghai) Co., Ltd.

Legal Address: Room 276i, No. 668 Shangda Road, Baoshan District, Shanghai, PRC

Legal Representative: He Chuan

 

(2)                                 PARTY B: Shanghai Renren Games Technology Development Co., Ltd.

Legal Address: Room 257i, No. 668 Shangda Road, Baoshan District, Shanghai, PRC

Legal Representative: He Chuan

 

(3)                                 PARTY C: He Chuan

PRC Identification Card No.:

Address:

 

(4)                                 PARTY D: Liu Jian

PRC Identification Card No.:

Address:

 

(individually, a “Party”, and collectively, the “Parties”)

 

WHEREAS:

 

A.                                    Party A is a wholly foreign-owned enterprise registered in the PRC;

 

B.                                    Party B is a wholly domestic-owned company registered in the PRC and is approved by relevant governmental authorities to engage in the business of providing value-added telecommunications services;

 

C.                                    Party A and Party B have entered into an Exclusive Technical Support and Technical Services Agreement, dated as of November 30, 2012 pursuant to which Party A shall provide certain technical services to Party B (the “Technical Service Agreement”); and

 

D.                                    Party C and Party D own 70% and 30%, respectively, of the equity interest of Party B.

 

THEREFORE, through friendly negotiation in the principle of equality and common interest, the Parties hereby jointly agree to abide by the following:

 

1.                                      Negative Undertakings

 

In order to ensure Party B’s performance of its obligations pursuant to the Technical Service Agreement, Party B together with its shareholders Party C and Party D, hereby jointly confirm and agree that unless Party B has obtained the prior written consent of Party A or another party appointed by Party A, Party B shall not enter into any transaction which may materially affect its assets, obligations, rights or operations, including but not limited to the following:

 

1.1                               To conduct any business that is beyond the normal business scope;

 

1.2                               To borrow money or incur any debt from any third party;

 

 

1.3                               To change or dismiss any directors or to dismiss and replace any senior management members;

 

1.4                               To sell to or acquire from any third party any assets or rights, including but not limited to any intellectual property rights;

 

1.5                               To guarantee or secure the obligations of any third party with its assets or intellectual property rights or to create any encumbrance over its assets in favor of any third party;

 

1.6                               To amend the articles of association of Party B (the “Articles”) or to change its business scope;

 

1.7                               To change the normal business process or modify any material policy of Party B;

 

1.8                               To assign any of the rights or obligations under this Agreement herein to any third party;

 

1.9                               To adjust materially its business operating models, marketing strategies, operating guidance or client relationships; or

 

1.10                        To declare any dividend in any way.

 

2.                                      Management of Operation and Arrangements of Human Resource

 

2.1                               Party B, together with its shareholders Party C and Party D, hereby jointly agree to accept and strictly execute the proposals provided by Party A from time to time in respect of the employment and dismissal of Party B’s employees and the daily business management and financial management of Party B.

 

2.2                               Party B, together with its shareholders Party C and Party D, hereby jointly and severally agree that Party C and Party D shall only appoint the individuals designated by Party A as the Executive Director or Directors of the Board of Directors of Party B in accordance with the procedures required by the applicable laws and regulations and the Articles, and shall cause such Executive Director or Director of the Board of Directors of Party B to appoint the individuals designated by Party A as Party B’s General Manager, Chief Financial Officer, and other senior officers.

 

2.3                               If any of the officers referenced in Section 2.2 hereof resigns or is dismissed by Party A, Party B, Party C and Party D shall appoint or cause the appointment of another candidate designated by Party A to assume such position(s).

 

2.4                               For the purpose of the above-mentioned Section 2.3, Party B, Party C and Party D shall take all necessary internal or external steps to effect the above appointments or dismissals in accordance with relevant laws and regulations, the Articles and this Agreement.

 

2.5                               Each of Party C and Party D hereby agrees simultaneously with the execution of this Agreement, to execute a Proxy Agreement and Power of Attorney, in the form attached hereto as Exhibit A, pursuant to which each of Party C and Party D shall authorize the person(s) designated by Party A to exercise his or her shareholders’ rights, including the full voting right of a shareholder at Party B’s shareholders’ meetings. Each of Party C and Party D further agrees to replace the authorized person appointed according to the above mentioned Power of Attorneys at any time in accordance with the requests of Party A.

 

3.                                      Other Agreements

 

3.1                               Each of Party C and Party D further agrees that he/she shall not put forward, or vote

 

 

in favor of, any shareholder resolution to, or otherwise request Party B to, declare any dividends or distribute any profits, funds, assets or property to the shareholders of Party B or any of its affiliates; provided, however, if such dividends or other distributions are distributed to Party C and/or Party D from Party B,  Party C and/or Party D shall immediately and unconditionally pay or transfer to Party A any dividends or other distributions in whatsoever form obtained from Party B, after having deducted and paid any and all relevant taxes and expenses applicable to such shareholder as a result of his/her receipt of such dividends or other distributions.

 

3.2                               Party A shall indemnify Party C and Party D from any liabilities, costs or losses (including but not limited to any and all legal expenses) incurred by Party C and/or Party D arising by reason of his/her performance of his/her obligations under this Agreement and as a shareholder of Party B, provided that such actions are taken in good faith and are not contrary to the best interests of Party A or Party B.

 

3.3                               To ensure that Party B has sufficient funds to support its operations and/or to set off any loss accrued during such operations, Party A may  provide financing support to Party B from time to time at Party A’s sole discretion. Party A’s financing support for Party B may take the form of bank entrusted loans or borrowings. Contracts for any such entrusted loans or borrowings shall be executed separately.

 

4.                                      Entire Agreement and Modifications

 

4.1                               This Agreement together with all the other agreements and/or documents mentioned or specifically included in this Agreement, to which any Party is a party thereunder (where applicable), constitute the entire agreement and understanding among the Parties with respect to the business operations of Party B and supersedes all the other prior oral and written agreements, contracts, understandings and communications among all the parties involving the subject matters of this Agreement.

 

4.2                               This Agreement shall only be amended by a written instrument executed by each Party hereto. The amendment and supplement duly executed by each Party hereto shall form part of this Agreement and shall have the same legal effect as this Agreement.

 

5.                                      Governing Law

 

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

 

6.             Dispute Resolution

 

6.1                               The Parties shall strive to settle any dispute arising from the interpretation or performance of this Agreement through friendly consultation in good faith. In case no settlement can be reached through friendly consultation, each Party can submit such matter to the Beijing headquarters of the China International Economic and Trade Arbitration Commission (“CIETAC”) for arbitration in accordance with the then current rules of CIETAC. The arbitration proceedings shall be conducted in Chinese. The arbitration award shall be final and binding upon all the Parties. This article shall not be affected by the termination or elimination of this Agreement.

 

6.2                               During the process of the dispute resolution, each Party shall continue to perform its obligations in good faith according to the provisions of this Agreement except for the subject matters in dispute.

 

 

7.                                      Notice

 

7.1                               Any notice that is given by the Parties hereto for the purpose of performing the rights and obligations hereunder shall be in written form. Where such notice is delivered personally, the actual delivery time is regarded as notice time; where such notice is transmitted by telex or facsimile, the notice time is the time when such notice is transmitted. If such notice (i) does not reach the addressee on a business day or (ii) reaches the addressee after the business hours, the next business day following such day is the date of notice. The written form includes facsimile and telex.

 

7.2                               Any notice or other correspondence hereunder provided shall be delivered to the following addresses in accordance with the above terms:

 

	
PARTY   A
    	
:
    	
Renren   Games Network Technology Development (Shanghai)Co., Ltd.
    
	
Address
    	
:
    	
Room 276i,   No. 668 Shangda Road, Baoshan District, Shanghai, PRC
    
	
Tele
    	
:
    	
+86-21-6073-3049
    
	
Addressee
    	
:
    	
He Chuan
    
	
 
    	
 
    	
 
    
	
PARTY   B
    	
:
    	
Shanghai Renren Games Technology Development Co., Ltd.
    
	
Address
    	
:
    	
Room 257i,   No. 668 Shangda Road, Baoshan District, Shanghai, PRC
    
	
Tele
    	
:
    	
+86-21-6073-3049
    
	
Addressee
    	
:
    	
He Chuan
    
	
 
    	
 
    	
 
    
	
PARTY   C
    	
:
    	
He   Chuan
    
	
Address
    	
:
    	
 
    
	
Fax
    	
:
    	
+86-10-6436-3832
    
	
Tele
    	
:
    	
+86-10-8448-1818
    
	
 
    	
 
    	
 
    
	
PARTY   D
    	
:
    	
Liu   Jian
    
	
Address
    	
:
    	
 
    
	
Fax
    	
:
    	
+86-10-51085666
    
	
Tele
    	
:
    	
+86-10-84481818
    

 

8.                                      Effectiveness, Term and Others

 

8.1                               This Agreement shall be effective upon its being signed by the Parties hereunder (the “Effective Date”).

 

8.2                               This Agreement shall be executed by a duly authorized representative of each Party on the date first written above and become effective as of the Effective Date. The term of this agreement is ten years unless terminated earlier in accordance with the relevant provisions herein. This Agreement will extend automatically for another ten year period except where Party A provides a written notice stating its intention not to extend this Agreement three months prior to the expiration of the initial ten years term of this Agreement.

 

8.3                               Party B, Party C and Party D shall not terminate this Agreement within the terms of this Agreement. Notwithstanding the above stipulation, Party A shall have the right to terminate this Agreement at any time by issuing a prior written notice to Party B, Party C and Party D thirty (30) days before the termination.

 

8.4                               In case any terms and stipulations in this Agreement are regarded as illegal or can not be performed in accordance with the applicable laws, they shall be deemed to be deleted from this Agreement and lose their effect and this Agreement shall be treated as if they did not exist from the very beginning. However, the remaining stipulations

 

 

will remain effective. Each Party shall replace the deleted stipulations with lawful and effective stipulations, which are acceptable to each Party, through mutual negotiation.

 

8.5                               Any failure or delay on the part of any Party to exercise any rights, powers or privileges hereunder shall not operate as a waiver thereof. Any single or partial exercise of such rights, powers or privileges shall not preclude any further exercise of such rights, powers or privileges.

 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK.]

 

 

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

 

PARTY A: Renren Games Network Technology Development (Shanghai) Co., Ltd.

(Company Seal)

/seal/

 

 

	
By: 
    	
/s/ He Chuan
    	
 
    
	
Authorized   Representative: He Chuan
    	
 
    

 

 

PARTY B: Shanghai Renren Games Technology Development Co., Ltd.

(Company Seal)

/seal/

 

 

	
By: 
    	
/s/ He Chuan
    	
 
    
	
Authorized   Representative: He Chuan
    	
 
    

 

 

PARTY C: He Chuan

 

 

	
By: 
    	
/s/ He Chuan
    	
 
    

 

 

PARTY D: Liu Jian

 

 

	
By: 
    	
/s/ Liu Jian
    	
 
    

 

 

[SIGNATURE PAGE TO BUSINESS OPERATIONS AGREEMENT]

 

 

EXHBIIT A

 

FORM OF PROXY AGREEMENT AND POWER OF ATTORNEY

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