<SEC-DOCUMENT>0001104659-23-027570.txt : 20230302
<SEC-HEADER>0001104659-23-027570.hdr.sgml : 20230302
<ACCEPTANCE-DATETIME>20230302063320
ACCESSION NUMBER:		0001104659-23-027570
CONFORMED SUBMISSION TYPE:	S-8 POS
PUBLIC DOCUMENT COUNT:		4
FILED AS OF DATE:		20230302
DATE AS OF CHANGE:		20230302
EFFECTIVENESS DATE:		20230302

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NetEase, Inc.
		CENTRAL INDEX KEY:			0001110646
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-PREPACKAGED SOFTWARE [7372]
		IRS NUMBER:				000000000

	FILING VALUES:
		FORM TYPE:		S-8 POS
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-234189
		FILM NUMBER:		23696289

	BUSINESS ADDRESS:	
		STREET 1:		NETEASE BUILDING, NO. 599 WANGSHANG RD
		STREET 2:		BINJIANG DISTRICT
		CITY:			HANGZHOU
		STATE:			F4
		ZIP:			310052
		BUSINESS PHONE:		86 571 8985-2070

	MAIL ADDRESS:	
		STREET 1:		NETEASE BUILDING, NO. 599 WANGSHANG RD
		STREET 2:		BINJIANG DISTRICT
		CITY:			HANGZHOU
		STATE:			F4
		ZIP:			310052

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	NETEASE.COM, INC.
		DATE OF NAME CHANGE:	20040719

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	NETEASE COM INC
		DATE OF NAME CHANGE:	20000330
</SEC-HEADER>
<DOCUMENT>
<TYPE>S-8 POS
<SEQUENCE>1
<FILENAME>tm238153d1_s8pos.htm
<DESCRIPTION>S-8 POS
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>As filed with the Securities and Exchange Commission
on March 2, 2023.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: right"><B>Registration No. 333-234189</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>WASHINGTON, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>POST-EFFECTIVE AMENDMENT NO. 1<BR>
TO<BR>
FORM&nbsp;S-8</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>REGISTRATION STATEMENT<BR>
UNDER<BR>
THE SECURITIES ACT OF 1933</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>NETEASE,&nbsp;INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Exact Name of Registrant as Specified in Its Charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 52%; padding-right: 5.75pt; padding-left: 5.75pt; text-align: center"><B>Cayman Islands<BR>
</B>(State or Other Jurisdiction of<BR>
Incorporation or Organization) </TD>
    <TD STYLE="width: 48%; padding-right: 5.75pt; padding-left: 5.75pt; text-align: center"><B>Not Applicable<BR>
</B>(I.R.S. Employer<BR>
Identification No.)</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt; padding-left: 5.75pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.75pt; padding-left: 5.75pt; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.75pt; padding-left: 5.75pt; text-align: center"><B>NetEase Building, No.&nbsp;599 Wangshang Road<BR>
Binjiang District, Hangzhou<BR>
People&rsquo;s Republic of China<BR>
</B>(Address of Principal Executive Offices)</TD>
    <TD STYLE="padding-right: 5.75pt; padding-left: 5.75pt; text-align: center"><B>310052<BR>
</B>(Zip Code)</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>NetEase,&nbsp;Inc. Amended and Restated 2019
Share Incentive Plan (f/k/a the NetEase,&nbsp;Inc. 2019 Restricted Share Unit Plan)</B><BR>
(Full Title of the Plan)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Puglisi&nbsp;&amp; Associates<BR>
850 Library Avenue, Suite&nbsp;204<BR>
Newark, Delaware 19711<BR>
</B>(Name and Address of Agent for Service)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(302) 738-6680</B><BR>
(Telephone Number,&nbsp;Including Area Code, of Agent for Service)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Indicate by check mark whether the registrant is a large accelerated
filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of
 &ldquo;large accelerated filer,&rdquo; &ldquo;accelerated filer,&rdquo; &ldquo;smaller reporting company,&rdquo; and &ldquo;emerging growth
company&rdquo; in Rule&nbsp;12b-2 of the Exchange Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; padding-right: 5.75pt; padding-left: 5.75pt">Large accelerated filer <FONT STYLE="font-family: Wingdings">&#120;</FONT><BR>
Non-accelerated filer <FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="width: 50%; padding-right: 5.75pt; padding-left: 1.1in">Accelerated filer <FONT STYLE="font-family: Wingdings">&#168;</FONT><BR>
Smaller reporting company <FONT STYLE="font-family: Wingdings">&#168;</FONT><BR>
Emerging growth company <FONT STYLE="font-family: Wingdings">&#168;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">If an emerging growth company, indicate by check mark if the registrant
has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant
to Section&nbsp;7(a)(2)(B)&nbsp;of the Securities Act. <FONT STYLE="font-family: Wingdings">&#168;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Copy to:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>James J. Moloney</B><BR>
Gibson, Dunn&nbsp;&amp; Crutcher LLP<BR>
3161 Michelson Drive<BR>
Irvine, California 92612<BR>
(949) 451-4343</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>EXPLANATORY NOTE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">NetEase,&nbsp;Inc. (the &ldquo;Registrant&rdquo;),
previously filed its Registration Statement on Form&nbsp;S-8 (File No.&nbsp;333-234189) with the Securities and Exchange Commission (the
 &ldquo;Commission&rdquo;) on October&nbsp;15, 2019 (the &ldquo;Registration Statement&rdquo;)<B>&nbsp;</B>with respect to 322,458,300
shares of the Registrant&rsquo;s ordinary shares, par value US$0.0001 per share (the &ldquo;Ordinary Shares&rdquo;), issuable under the
Registrant&rsquo;s 2019 Restricted Share Unit Plan (the &ldquo;2019 Plan&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Effective February&nbsp;22, 2023, the Board of
Directors of the Registrant amended and restated the 2019 Plan to permit the grant of stock option awards thereunder as an additional
award type and to make certain other ministerial and administrative changes and renamed it the NetEase,&nbsp;Inc. Amended and Restated
2019 Share Incentive Plan (the &ldquo;Amended and Restated 2019 Plan&rdquo;). The Registrant is filing this Post-Effective Amendment No.&nbsp;1
to Form&nbsp;S-8 (this &ldquo;Post-Effective Amendment&rdquo;) to make clear that all of the available Ordinary Shares registered on such
Registration Statement may be issued pursuant to any of the permitted award types under the Amended and Restated 2019 Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">For the avoidance of doubt, no additional Ordinary Shares were authorized
for issuance under the Amended and Restated 2019 Plan and the Registrant is not registering any additional Ordinary Shares pursuant to
this Post-Effective Amendment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>PART&nbsp;I</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>INFORMATION
REQUIRED IN THE SECTION&nbsp;10(a)&nbsp;PROSPECTUS</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.75in"><B>ITEM 1.</B></TD><TD><B>PLAN INFORMATION.*</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.75in"><B>ITEM 2.</B></TD><TD><B>REGISTRANT INFORMATION AND EMPLOYEE PLAN ANNUAL INFORMATION.*</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
information required by Item 1 and Item 2 of Part&nbsp;I of Form&nbsp;S-8 is omitted from this filing in accordance with Rule&nbsp;428
under the Securities Act of 1933, as amended (the &ldquo;Securities Act&rdquo;) and the introductory note to Part&nbsp;I of Form&nbsp;S-8.
The documents containing the information specified in this Part&nbsp;I will be delivered to the participants in the Amended and Restated
2019 Plan covered by this Registration Statement as required by Rule&nbsp;428(b)&nbsp;(1)&nbsp;under the Securities Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>PART&nbsp;II</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>INFORMATION
REQUIRED IN THE REGISTRATION STATEMENT</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.75in"><B>ITEM 3.</B></TD><TD><B>INCORPORATION OF DOCUMENTS BY REFERENCE.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">The following documents filed by the Registrant with
the Commission are incorporated as of their respective dates in this Registration Statement by reference:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in"><A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/1110646/000110465922052206/ntes-20211231x20f.htm" STYLE="-sec-extract: exhibit">(a)</A></TD><TD><A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/1110646/000110465922052206/ntes-20211231x20f.htm" STYLE="-sec-extract: exhibit">The Registrant&rsquo;s latest Annual Report on Form&nbsp;20-F filed with the Commission on April&nbsp;28, 2022, for the fiscal year
ended December&nbsp;31, 2021;</A></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD>All other reports filed by the Registrant pursuant to Section&nbsp;13(a)&nbsp;or 15(d)&nbsp;of the Securities Exchange Act of 1934,
as amended (the &ldquo;Exchange Act&rdquo;) since December&nbsp;31, 2021; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD>The description of the Registrant&rsquo;s Ordinary Shares which is contained in its Registration Statement on Form&nbsp;8-A filed
with the Commission under the Exchange Act on March&nbsp;27, 2000, including any amendment or report subsequently filed for the purpose
of updating such description.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">All documents subsequently filed by the Registrant
with the Commission pursuant to Section&nbsp;13(a), 13(c), 14 or 15(d)&nbsp;of the Exchange Act, after the date of this Registration Statement
and prior to the filing of a post-effective amendment to this Registration Statement which indicates that all securities offered have
been sold or which deregisters all securities then remaining unsold, shall be deemed to be incorporated by reference into this Registration
Statement and to be a part hereof from the date of filing of such documents; provided, however, that documents or information deemed to
have been furnished and not filed in accordance with Commission rules&nbsp;shall not be deemed incorporated by reference into this Registration
Statement. Any statement contained in a document incorporated, or deemed to be incorporated, by reference herein shall be deemed to be
modified or superseded for purposes of this Registration Statement to the extent that a statement contained herein or in any subsequently
filed document which also is or is deemed to be incorporated by reference herein modifies or supersedes such statement. Any such statement
so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this Registration Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.75in"><B>ITEM 4.</B></TD><TD><B>DESCRIPTION OF SECURITIES.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt -0.25in; text-indent: 1in">Not applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.75in"><B>ITEM 5.</B></TD><TD><B>INTERESTS OF NAMED EXPERTS AND COUNSEL.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt -0.25in; text-indent: 1in">Not applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.75in"><B>ITEM 6.</B></TD><TD><B>INDEMNIFICATION OF DIRECTORS AND OFFICERS.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">Cayman Islands law does not limit the extent to which
a company&rsquo;s articles of association may provide for indemnification of officers and directors, except to the extent any such provision
may be held by the Cayman Islands courts to be contrary to public policy, such as to provide indemnification against civil fraud or the
consequences of committing a crime.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">Article&nbsp;125 of the Registrant&rsquo;s articles
of association provide that the Registrant may indemnify its directors, officers and trustee acting in relation to any of its affairs
against actions, proceedings, costs, charges, losses, damages and expenses incurred by reason of any act done or omitted in the execution
of their duty in their capacities as such, except if they acted in a willfully negligent manner or defaulted in any action against them.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">All of the Registrant&rsquo;s current directors and
officers have entered into indemnification agreements in which the Registrant agrees to indemnify, to the fullest extent allowed by Cayman
Islands law, the Registrant&rsquo;s charter documents or other applicable law, those directors and officers from any liability or expenses,
unless the liability or expense arises from the director&rsquo;s or the officer&rsquo;s own willful negligence or willful default. The
indemnification agreements also specify the procedures to be followed with respect to indemnification.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.75in"><B>ITEM 7.</B></TD><TD><B>EXEMPTION FROM REGISTRATION CLAIMED.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt -0.25in; text-indent: 1in">Not applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.75in"><B>ITEM 8.</B></TD><TD><B>EXHIBITS.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><A HREF="https://www.sec.gov/Archives/edgar/data/1110646/000110465921084381/tm2120224d1_ex1-1.htm" STYLE="-sec-extract: exhibit">4.1</A></TD><TD><A HREF="https://www.sec.gov/Archives/edgar/data/1110646/000110465921084381/tm2120224d1_ex1-1.htm" STYLE="-sec-extract: exhibit">Amended and Restated Memorandum of Association and Articles of Association of NetEase,&nbsp;Inc. (Incorporated herein by reference
to Exhibit&nbsp;1.1 to Form&nbsp;6-K furnished with the SEC on June&nbsp;23, 2021).</A></TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD></TD><TD>4.2</TD><TD>Specimen American Depositary Receipt of the Registrant (Incorporated herein by reference to Exhibit&nbsp;4.1 to Amendment No.&nbsp;1
to the Registrant&rsquo;s Registration Statement on Form&nbsp;F-1 (File No.&nbsp;333-11724) filed with the Commission on May&nbsp;15,
2000).</TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD></TD><TD>4.3</TD><TD>Specimen Stock Certificate of the Registrant (Incorporated herein by reference to Exhibit&nbsp;4.2 to Amendment No.&nbsp;1 to the
Registrant&rsquo;s Registration Statement on Form&nbsp;F-1 (File No.&nbsp;333-11724) filed with the Commission on May&nbsp;15, 2000).</TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD></TD><TD><A HREF="https://www.sec.gov/Archives/edgar/data/1110646/000089109204002641/e18031ex1.txt" STYLE="-sec-extract: exhibit">4.4</A></TD><TD><A HREF="https://www.sec.gov/Archives/edgar/data/1110646/000089109204002641/e18031ex1.txt" STYLE="-sec-extract: exhibit">Form&nbsp;of Deposit Agreement among the Registrant, The Bank of New York and holders of the American Depositary Receipts (Incorporated
herein by reference to Exhibit&nbsp;1 to the Registrant&rsquo;s Registration Statement on Form&nbsp;F-6EF (File No.&nbsp;333-115868) filed
with the Commission on May&nbsp;26, 2004).</A></TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD></TD><TD><A HREF="tm238153d1_ex4-5.htm">4.5*</A></TD><TD><A HREF="tm238153d1_ex4-5.htm">The Registrant&rsquo;s Amended and Restated 2019 Share Incentive Plan.</A></TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD></TD><TD><A HREF="tm238153d1_ex5-1.htm">5.1*</A></TD><TD><A HREF="tm238153d1_ex5-1.htm">Opinion of Maples and Calder (Hong Kong) LLP, Cayman Islands counsel to the Registrant, regarding the legality of the ordinary shares
being registered.</A></TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD></TD><TD><A HREF="tm238153d1_ex23-1.htm">23.1*</A></TD><TD><A HREF="tm238153d1_ex23-1.htm">Consent of PricewaterhouseCoopers Zhong Tian LLP,&nbsp;Independent Registered Public Accounting Firm.</A></TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD></TD><TD STYLE="text-align: left"><A HREF="tm238153d1_ex5-1.htm">23.2*</A></TD><TD STYLE="text-align: justify"><A HREF="tm238153d1_ex5-1.htm">Consent of Maples and Calder (contained in Exhibit&nbsp;5.1).</A></TD>
</TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD></TD><TD><A HREF="#a_001">24.1*</A></TD><TD><A HREF="#a_001">Power of Attorney (included as part of the signature page&nbsp;of this Registration Statement).</A></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: -0.5in">* Filed herewith.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.75in"><B>ITEM 9.</B></TD><TD><B>UNDERTAKINGS.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD>The undersigned Registrant hereby undertakes:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(1)</TD><TD>To file, during any period in which offers or sales are being made, a post-effective amendment to this Registration Statement:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD>to include any prospectus required by Section&nbsp;10(a)(3)&nbsp;of the Securities Act;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD>to reflect in the prospectus any facts or events arising after the effective date of this Registration Statement (or the most recent
post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth
in this Registration Statement; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in">(iii)</TD><TD>to include any material information with respect to the plan of distribution not previously disclosed in this Registration Statement
or any material change to that information in the Registration Statement;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in">provided, however, that paragraphs (a)(1)(i)&nbsp;and (a)(1)(ii)&nbsp;above
do not apply if the registration statement is on Form&nbsp;S-3, Form&nbsp;S-8 or Form&nbsp;F-3, and the information required to be included
in a post-effective amendment by those paragraphs is contained in reports filed with or furnished to the Commission by the Registrant
pursuant to Section&nbsp;13 or Section&nbsp;15(d)&nbsp;of the Exchange Act that are incorporated by reference in this Registration Statement;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(2)</TD><TD>That, for the purpose of determining any liability under the Securities Act, each such post-effective amendment shall be deemed to
be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be
deemed to be the initial bona fide offering thereof; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(3)</TD><TD>To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the
termination of the offering.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD>The undersigned Registrant hereby undertakes that, for purposes of determining any liability under the Securities Act, each filing
of the Registrant&rsquo;s annual report pursuant to Section&nbsp;13(a)&nbsp;or Section&nbsp;15(d)&nbsp;of the Exchange Act that is incorporated
by reference in this Registration Statement shall be deemed to be a new registration statement relating to the securities offered therein,
and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD>Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling
persons of the Registrant pursuant to the foregoing provisions, or otherwise, the Registrant has been advised that in the opinion of the
Commission such indemnification is against public policy as expressed in the Securities Act, and is, therefore, unenforceable. In the
event that a claim for indemnification against such liabilities (other than the payment by the Registrant of expenses incurred or paid
by a director, officer or controlling person of the Registrant in the successful defense of any action, suit or proceeding) is asserted
by such director, officer or controlling person in connection with the securities being registered, the Registrant will, unless, in the
opinion of its counsel, the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question
whether such indemnification by it is against public policy as expressed in the Securities Act and will be governed by the final adjudication
of such issue.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">Pursuant to the requirements of the Securities Act
of 1933, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form&nbsp;S-8
and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in Beijing,
China on March&nbsp;1, 2023.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font-size: 10pt; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="3" STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>NETEASE,
    INC.</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: 10pt Calibri, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
    Charles Zhaoxuan Yang</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; width: 50%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; width: 3%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; text-align: left; width: 5%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; text-align: left; width: 42%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Charles Zhaoxuan Yang</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:</FONT></TD>
    <TD STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief Financial Officer</FONT></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="a_001"></A><B>POWER OF ATTORNEY</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">KNOW ALL PERSONS BY THESE PRESENTS, that each person
whose signature appears below constitutes and appoints, severally and not jointly, Mr.&nbsp;William Lei Ding and Mr.&nbsp;Charles Zhaoxuan
Yang, with full power to act alone, as his or her true and lawful attorney-in-fact, with the power of substitution, for and in such person&rsquo;s
name, place and stead, in any and all capacities, to sign any and all amendments (including post-effective amendments) to this Registration
Statement, and to file the same, with all exhibits thereto, and other documents in connection therewith, with the Securities and Exchange
Commission, granting unto each said attorney-in-fact full power and authority to do and perform each and every act and thing requisite
and necessary to be done as fully to all intents and purposes as he or she might or could do in person, hereby ratifying and confirming
all that each said attorney-in-fact may lawfully do or cause to be done by virtue hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">Pursuant to the requirements of the Securities Act
of 1933, this Registration Statement has been signed by the following persons in the capacities and on the dates indicated:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font-size: 10pt; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Calibri, Helvetica, Sans-Serif; text-align: center; width: 39%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Signature</B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Calibri, Helvetica, Sans-Serif; text-align: center; width: 29%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Title</B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Calibri, Helvetica, Sans-Serif; text-align: center; width: 30%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Date</B></FONT></TD>
    </TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.125in; border-bottom: Black 1pt solid; font: 10pt Calibri, Helvetica, Sans-Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ William Lei Ding</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center; font: 10pt Calibri, Helvetica, Sans-Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director and Chief Executive Officer</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center; font: 10pt Calibri, Helvetica, Sans-Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">March&nbsp;1, 2023</FONT></TD>
    </TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.125in; font: 10pt Calibri, Helvetica, Sans-Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">William Lei Ding</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center; font: 10pt Calibri, Helvetica, Sans-Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(principal executive officer)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    </TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.125in; font: 10pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    </TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.125in; border-bottom: Black 1pt solid; font: 10pt Calibri, Helvetica, Sans-Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Charles Zhaoxuan Yang</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center; font: 10pt Calibri, Helvetica, Sans-Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief Financial Officer</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center; font: 10pt Calibri, Helvetica, Sans-Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">March&nbsp;1, 2023</FONT></TD>
    </TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.125in; font: 10pt Calibri, Helvetica, Sans-Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Charles Zhaoxuan Yang</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center; font: 10pt Calibri, Helvetica, Sans-Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(principal financial and accounting officer)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    </TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.125in; font: 10pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center; font: 10pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    </TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.125in; border-bottom: Black 1pt solid; font: 10pt Calibri, Helvetica, Sans-Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Alice Yu-Fen Cheng*</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center; font: 10pt Calibri, Helvetica, Sans-Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Independent Director</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center; font: 10pt Calibri, Helvetica, Sans-Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">March&nbsp;1, 2023</FONT></TD>
    </TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.125in; font: 10pt Calibri, Helvetica, Sans-Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Alice Yu-Fen Cheng</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center; font: 10pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    </TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.125in; font: 10pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center; font: 10pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.125in; border-bottom: Black 1pt solid; font: 10pt Calibri, Helvetica, Sans-Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Joseph Tze Kay Tong*</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center; font: 10pt Calibri, Helvetica, Sans-Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Independent Director</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center; font: 10pt Calibri, Helvetica, Sans-Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">March&nbsp;1, 2023</FONT></TD>
    </TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.125in; font: 10pt Calibri, Helvetica, Sans-Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Joseph Tze Kay Tong</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center; font: 10pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    </TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.125in; font: 10pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center; font: 10pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.125in; border-bottom: Black 1pt solid; font: 10pt Calibri, Helvetica, Sans-Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Michael Man Kit Leung*</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center; font: 10pt Calibri, Helvetica, Sans-Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Independent Director</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center; font: 10pt Calibri, Helvetica, Sans-Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">March&nbsp;1, 2023</FONT></TD>
    </TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.125in; font: 10pt Calibri, Helvetica, Sans-Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Michael Man Kit Leung</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    </TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.125in">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center; font: 10pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    </TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.125in; border-bottom: Black 1pt solid">/s/ Grace Hui Tang</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center; font: 10pt Calibri, Helvetica, Sans-Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Independent Director</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.125in; font: 10pt Calibri, Helvetica, Sans-Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Grace Hui Tang</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    </TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">*By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 45%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Charles Zhaoxuan Yang</FONT></TD>
    <TD STYLE="width: 20%">&nbsp;</TD>
    <TD STYLE="text-align: center; width: 30%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">March&nbsp;1, 2023</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Charles Zhaoxuan Yang</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Attorney-in-fact</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SIGNATURE OF AUTHORIZED REPRESENTATIVE IN THE
UNITED STATES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Pursuant to the Securities Act of 1933, as amended,
the undersigned, the duly authorized representative in the United States of NetEase,&nbsp;Inc., has signed this registration statement
or amendment thereto in the city of Newark, State of Delaware, on March&nbsp;1, 2023.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font-size: 10pt; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="3" STYLE="font: 10pt Calibri, Helvetica, Sans-Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>PUGLISI&nbsp;&amp;
    ASSOCIATES</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Calibri, Helvetica, Sans-Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Calibri, Helvetica, Sans-Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Calibri, Helvetica, Sans-Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: 10pt Calibri, Helvetica, Sans-Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
    Donald L. Puglisi</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 3%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; width: 5%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; width: 42%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Donald L. Puglisi</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Calibri, Helvetica, Sans-Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:</FONT></TD>
    <TD STYLE="font: 10pt Calibri, Helvetica, Sans-Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Managing Director</FONT></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-4.5
<SEQUENCE>2
<FILENAME>tm238153d1_ex4-5.htm
<DESCRIPTION>EXHIBIT 4.5
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit&nbsp;4.5</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>NETEASE,&nbsp;INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>AMENDED AND RESTATED 2019 SHARE INCENTIVE PLAN</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ADOPTED BY THE BOARD EFFECTIVE FEBRUARY 22,
2023 (the &ldquo;Effective Date&rdquo;)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">1.</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Purposes
of the Plan</U>. The purposes of this Plan are to attract and retain the best available personnel, to provide additional incentives to
Employees, Directors and Consultants and to promote the success of the business of the Company and the Group Members through the awarding
of Restricted Share Units and Options.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">2.</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Definitions</U>.
The following definitions shall apply as used herein and in the individual Award Agreements except as defined otherwise in an individual
Award Agreement. In the event a term is separately defined in an individual Award Agreement, such definition shall supersede the definition
contained in this Section&nbsp;2.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(a)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">&ldquo;<U>Administrator</U>&rdquo;
shall have the meaning set forth in Section&nbsp;4(a)(iii)&nbsp;of this Plan.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(b)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">&ldquo;<U>ADS</U>&rdquo;
means an American Depositary Share of the Company, each of which represents five (5)&nbsp;Ordinary Shares and as it may be changed from
time to time.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(c)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">&ldquo;<U>Applicable
Laws</U>&rdquo; means the legal requirements relating to the Plan and the Awards under applicable provisions of U.S. federal securities
laws, state corporate and securities laws, the Code, the laws of the Cayman Islands and the People&rsquo;s Republic of China, the rules&nbsp;of
any applicable stock exchange or national market system, and the rules&nbsp;of any non-U.S. jurisdiction applicable to Awards granted
to residents therein.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(d)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">&ldquo;<U>Award</U>&rdquo;
means the grant of an Option or Restricted Share Unit under the Plan.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(e)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">&ldquo;<U>Award
Agreement</U>&rdquo; means the written agreement evidencing the grant of an Award executed by the Company and the Grantee, including any
amendments thereto.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(f)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">&ldquo;<U>Board</U>&rdquo;
means the Board of Directors of the Company.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(g)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">&ldquo;<U>Code</U>&rdquo;
means the U.S. Internal Revenue Code of 1986, as amended.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(h)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">&ldquo;<U>Committee</U>&rdquo;
means any committee composed of members of the Board appointed by the Board to administer the Plan.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(i)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">&ldquo;<U>Company</U>&rdquo;
means NetEase,&nbsp;Inc., a corporation formed under the laws of the Cayman Islands, or any successor entity that adopts or assumes the
Plan in connection with a Corporate Transaction.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(j)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">&ldquo;<U>Consultant</U>&rdquo;
means any natural person (other than an Employee or a Director, solely with respect to rendering services in such person&rsquo;s capacity
as a Director) who is engaged by a Group Member to render consulting or advisory services to a Group Member and such services are not
in connection with the Company&rsquo;s sale of securities in a capital-raising transaction, and do not directly or indirectly promote
or maintain a market for the Company&rsquo;s securities.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(k)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">&ldquo;<U>Continuous
Service</U>&rdquo; means that the provision of services to a Group Member in any capacity of Employee, Director or Consultant is not interrupted
or terminated. In jurisdictions requiring notice in advance of an effective termination as an Employee, Director or Consultant, Continuous
Service shall be deemed terminated upon the actual cessation of providing services to a Group Member notwithstanding any required notice
period that must be fulfilled before a termination as an Employee, Director or Consultant can be effective under Applicable Laws to the
fullest extent not in violation of Applicable Laws. A Grantee&rsquo;s Continuous Service shall be deemed to have terminated either upon
an actual termination of Continuous Service or upon the entity for which the Grantee provides services ceasing to be a Group Member. Continuous
Service shall not be considered interrupted in the case of (i)&nbsp;any approved leave of absence, (ii)&nbsp;transfers among the Company,
any Group Member, or any successor, in any capacity of Employee, Director or Consultant, or (iii)&nbsp;any change in status as long as
the individual remains in the service of a Group Member in any capacity of Employee, Director or Consultant (except as otherwise provided
in the Award Agreement). Notwithstanding the foregoing, in the event of any spin-off of a Group Member, the Administrator may provide
that the service as an Employee, Director or Consultant for such Group Member following such spin-off shall be deemed to be Continuous
Service for purposes of the Plan and any Award under the Plan. An approved leave of absence shall include sick leave, military leave,
or any other authorized personal leave.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Notwithstanding the terms
set forth in the preceding paragraph, in the case of a grant of Incentive Share Options, references to &ldquo;Group Member&rdquo; shall
be changed to &ldquo;Subsidiary&rdquo;.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(l)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">&ldquo;<U>Corporate
Transaction</U>&rdquo; means any of the following transactions to which the Company is a party, provided, however, that the Administrator
shall determine, in its sole and absolute discretion, whether any such transaction or series of related transactions shall be a Corporate
Transaction or not, and under (iv)&nbsp;and (v)&nbsp;whether multiple transactions are related, and the Administrator&rsquo;s determination
shall be final, binding and conclusive on all persons having an interest in such determination:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(i)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">an
amalgamation, arrangement, merger, consolidation, scheme of arrangement or comparable transaction in which the Company is not the surviving
entity, except for a transaction the principal purpose of which is to change the jurisdiction in which the Company is incorporated or
which following such transaction the holders of the Company&rsquo;s voting securities immediately prior to such transaction own, directly
or indirectly, more than fifty percent (50%) of the voting securities of the Company or surviving entity;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(ii)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">the
sale, transfer or other disposition of all or substantially all of the assets of the Company (other than to a Subsidiary);</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(iii)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">the
completion of a voluntary or insolvent liquidation or dissolution of the Company;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(iv)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">either
(A)&nbsp;any takeover, reverse takeover, scheme of arrangement, or comparable transaction, or (B)&nbsp;a series of related transactions
culminating in a takeover, reverse takeover, scheme of arrangement or comparable transaction (including, but not limited to, a tender
offer followed by a takeover or reverse takeover) in which the Company survives but (A)&nbsp;the securities of the Company outstanding
immediately prior to such transaction are converted or exchanged by virtue of the transaction into other property, whether in the form
of securities, cash or otherwise, or (B)&nbsp;the securities possessing more than fifty percent (50%) of the total combined voting power
of the Company&rsquo;s then outstanding securities are transferred to a person or persons different from those who held such securities
immediately prior to such transaction culminating in such takeover, reverse takeover, scheme of arrangement or comparable transaction,
or (C)&nbsp;the Company issues new voting securities in connection with any such transaction such that holders of the Company&rsquo;s
voting securities immediately prior to the transaction no longer hold more than fifty percent (50%) of the voting securities of the Company
after the transaction; or</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(v)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">the
acquisition in a single or series of related transactions by any person or related group of persons (other than Employees of one or more
Group Members or entities established for the benefit of the Employees of one or more Group Members) of (A)&nbsp;control of the Board
or the ability to appoint a majority of the members of the Board, or (B)&nbsp;beneficial ownership (within the meaning of Rule&nbsp;13d-3
under the Exchange Act) of securities possessing more than fifty percent (50%) of the total combined voting power of the Company&rsquo;s
then outstanding securities.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(m)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">&ldquo;<U>Director</U>&rdquo;
means a member of the Board or the board of directors of any Group Member.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(n)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">&ldquo;<U>Disability</U>&rdquo;
means that the Grantee is unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental
impairment; provided, however, for purposes of determining the term of an Incentive Share Option pursuant to Section&nbsp;6(b)&nbsp;hereof,
the term Disability shall have the meaning ascribed to it under Section&nbsp;22(e)(3)&nbsp;of the Code. The determination of whether an
individual has a Disability shall be determined under procedures established by the Administrator. Except in situations where the Administrator
is determining Disability for purposes of the term of an Incentive Share Option pursuant to Section&nbsp;6(b)&nbsp;hereof within the meaning
of Section&nbsp;22(e)(3)&nbsp;of the Code, the Administrator may rely on any determination that a Grantee is disabled for purposes of
benefits under any long-term disability plan maintained by the Company or any Subsidiary in which a Grantee participates.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(o)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">&ldquo;<U>Dividend
Equivalent Right</U>&rdquo; means a right entitling the Grantee to compensation measured by dividends paid with respect to Ordinary Shares.
Dividend Equivalent Rights may be granted as part of the terms of an Award of Restricted Share Units or on a stand-alone basis, and in
either case such grant shall not reduce the number of Shares that may be granted under the Plan under Section&nbsp;3(a)&nbsp;below.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(p)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">&ldquo;<U>Employee</U>&rdquo;
means any person, including an Officer or Director, who is in the employment of any Group Member, subject to the control and direction
of a Group Member as to both the work to be performed and the manner and method of performance. The payment of a director&rsquo;s fee
by a Group Member shall not be sufficient to constitute &ldquo;employment&rdquo; by a Group Member.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(q)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">&ldquo;<U>Exchange
Act</U>&rdquo; means the Securities Exchange Act of 1934, as amended.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(r)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">&ldquo;<U>Fair
Market Value</U>&rdquo; means, as of any date, the value of Shares determined as follows:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(i)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">If
the Shares are listed on one or more established stock exchanges or national market systems, including without limitation The NASDAQ Global
Select Market, The NASDAQ Global Market, The NASDAQ Capital Market of The NASDAQ Stock Market LLC or The Stock Exchange of Hong Kong Limited,
its Fair Market Value shall be the closing sales price for such Shares (or the closing bid, if no sales were reported) as quoted on the
principal exchange or system on which the Shares are listed (such principal exchange or system to be determined by the Administrator)
on the date of determination (or, if no closing sales price or closing bid was reported on that date, as applicable, on the last trading
date such closing sales price or closing bid was reported), as reported on the consolidated transaction reporting system or such other
source as the Administrator deems reliable;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(ii)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">If
the Shares are regularly quoted on an automated quotation system (including the OTC Bulletin Board) or by a recognized securities dealer,
its Fair Market Value shall be the closing sales price for such Shares as quoted on such system or by such securities dealer on the date
of determination, but if selling prices are not reported, the Fair Market Value of a Share shall be the mean between the high bid and
low asked prices for the Shares on the date of determination (or, if no such prices were reported on that date, on the last date such
prices were reported), as reported on the automated quotation system or such other source as the Administrator deems reliable; or</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(iii)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">In
the absence of an established market for the Shares of the type described in (i)&nbsp;and (ii), above, the Fair Market Value thereof shall
be determined by the Administrator in good faith.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(s)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">&ldquo;<U>Grantee</U>&rdquo;
means an Employee, Director or Consultant who receives an Award under the Plan.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(t)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">&ldquo;<U>Group
Member</U>&rdquo; means the Company, any Subsidiary or any Related Entity.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(u)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">&ldquo;<U>Incentive
Share Option</U>&rdquo; means an Option that is intended to meet the requirements of Section&nbsp;422 of the Code or any successor provision
thereto.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(v)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">&ldquo;<U>Non-Qualified
Share Option</U>&rdquo; means an Option that is not intended to be an Incentive Share Option.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(w)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">&ldquo;<U>Officer</U>&rdquo;
means a person who is an officer of the Company or any other Group Member within the meaning of Section&nbsp;16 of the Exchange Act and
the rules&nbsp;and regulations promulgated thereunder.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(x)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">&ldquo;<U>Option</U>&rdquo;
means a right granted to a Grantee pursuant to Section&nbsp;6 of the Plan to purchase a specified number of Shares at a specified price
during specified time periods. An Option may be either an Incentive Share Option or a Non-Qualified Share Option.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(y)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">&ldquo;<U>Ordinary
Share</U>&rdquo; means an ordinary share, US$0.0001 par value, of the Company.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(z)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">&ldquo;<U>Plan</U>&rdquo;
means this Amended and Restated 2019 Share Incentive Plan, which amends and restates in its entirety the Company&rsquo;s previously adopted
2019 Restricted Share Unit Plan.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(aa)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&nbsp;<FONT STYLE="font-size: 10pt">&ldquo;<U>Related
Entity</U>&rdquo; means any corporation or other entity (including any subsidiary thereof) in or of which the Company or a Subsidiary
holds a substantial economic interest, or possesses the power to direct or cause the direction of the management policies, directly or
indirectly, through the ownership of voting securities, by contract, or other arrangements as trustee, executor or otherwise, but which,
for purposes of the Plan, is not a Subsidiary and which the Administrator designates as a Related Entity in its sole and absolute discretion
from time to time. For purposes of the Plan, any corporation or other entity in or of which the Company or a Subsidiary owns, directly
or indirectly, securities or interests representing twenty percent (20%) or more of its total combined voting power of all classes of
securities or interests shall be deemed a &ldquo;Related Entity&rdquo; unless the Administrator determines otherwise.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(bb)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&nbsp;<FONT STYLE="font-size: 10pt">&ldquo;<U>Restricted
Share Units</U>&rdquo; means an Award which may be earned in whole or in part upon the passage of time or the attainment of performance
criteria established by the Administrator and which may be settled for cash, Shares or other securities or a combination of cash, Shares
or other securities as established by the Administrator. Restricted Share Units may or may not be granted with Dividend Equivalent Rights.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(cc)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&nbsp;<FONT STYLE="font-size: 10pt">&ldquo;<U>Share</U>&rdquo;
means an Ordinary Share or an ADS, except as otherwise provided in the Plan, in particular under Section&nbsp;3 of the Plan.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(dd)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&nbsp;<FONT STYLE="font-size: 10pt">&ldquo;<U>Subsidiary</U>&rdquo;
means any corporation or other entity Controlled by the Company. &ldquo;Control&rdquo; means, with respect to any such corporation or
other entity, the possession, directly or indirectly, of the power to direct or cause the direction of the management policies of such
corporation or other entity whether through the ownership of the voting securities of such corporation or other entity or by contract
or otherwise. Notwithstanding the foregoing, for purposes of the grant of Incentive Share Options, a Subsidiary shall mean only any corporation
or other entity treated as a corporation for purposes of the Code that is part of an unbroken chain of corporations beginning with the
Company and ending with the Subsidiary if, at the time of the granting of the Incentive Share Option, each of the corporations (or other
entity treated as a corporation for purposes of the Code) other than the last corporation in the unbroken chain owns stock possessing
fifty percent (50%) or more of the total combined voting power of all classes of stock in one of the other corporations in such chain.
For purposes of the Plan, any &ldquo;variable interest entity&rdquo; that is consolidated into the consolidated financial statements of
the Company under applicable accounting principles or standards as may apply to the consolidated financial statements of the Company shall
be deemed a Subsidiary.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">3.</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Shares
Subject to the Plan</U>.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(a)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">Subject
to the provisions of Section&nbsp;11 below, the maximum aggregate number of Shares which may be issued pursuant to all Awards is 322,458,300
Ordinary Shares or its equivalent in ADSs as determined in accordance with Section&nbsp;3(b). The Shares to be issued pursuant to Awards
may be authorized, but unissued Shares, treasury Shares or reacquired Shares. The maximum number of Incentive Share Options which may
be granted is 322,458,300 Ordinary Shares or its equivalent in ADSs.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(b)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">For
purposes of calculating the number of Ordinary Shares issued under the Plan (and for purposes of calculating any limit set forth herein),
the issuance of an ADS shall be deemed to be equal to a number of Ordinary Shares determined by multiplying (i)&nbsp;the number of ADSs
issued by (ii)&nbsp;the ADS Multiplier. For purposes of the previous sentence, &ldquo;ADS Multiplier&rdquo; means the number of Ordinary
Shares corresponding to one (1)&nbsp;ADS.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(c)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">For
purposes of Section&nbsp;3(a), Shares covered by an Award shall only be counted as used to the extent they are actually issued and delivered
to a Grantee (or such Grantee&rsquo;s permitted transferees as described in the Plan) pursuant to the Plan. In addition, if Shares are
issued subject to conditions which may result in the forfeiture, cancellation or return of such Shares to the Company, any portion of
the Shares forfeited, cancelled or returned shall be treated as not issued pursuant to the Plan. To the extent not prohibited by Applicable
Law, Shares delivered by the Grantee or withheld by the Company upon the exercise of any Award under the Plan, in payment of the exercise
price thereof or tax withholding thereon, may again be granted or awarded hereunder, subject to the limitations of Section&nbsp;<FONT STYLE="font-family: Angsana New,serif">&lrm;</FONT>3(a).
Notwithstanding the provisions of this Section&nbsp;<FONT STYLE="font-family: Angsana New,serif">&lrm;</FONT>3(c), no Shares may again
be granted or awarded if such action would cause an Incentive Share Option to fail to qualify as an incentive stock option under Section&nbsp;422
of the Code.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">4.</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Administration
of the Plan</U>.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(a)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Plan
Administrator</U>.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(i)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Administration
with Respect to Directors and Officers</U>. With respect to grants of Awards to (x)&nbsp;Directors or (y)&nbsp;Employees who are also
Officers or Directors of the Company, the Plan shall be administered by (A)&nbsp;the Board or (B)&nbsp;a Committee designated by the Board,
which Committee shall be constituted in such a manner as to satisfy the Applicable Laws. Once appointed, such Committee shall continue
to serve in its designated capacity until otherwise directed by the Board.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(ii)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Administration
With Respect to Consultants and Other Employees</U>. With respect to grants of Awards to Employees or Consultants who are neither Directors
nor Officers of the Company, the Plan shall be administered by (A)&nbsp;the Board or (B)&nbsp;a Committee designated by the Board, which
Committee shall be constituted in such a manner as to satisfy the Applicable Laws. Once appointed, such Committee shall continue to serve
in its designated capacity until otherwise directed by the Board. The Board may authorize one or more Officers to grant such Awards and
may limit such authority as required by Applicable Laws and as the Board determines from time to time.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(iii)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>The
Administrator</U>. The Board, a Committee or an Officer or Officers acting in accordance with the preceding provisions of this Section&nbsp;4(a)&nbsp;shall
be referred to herein as the &ldquo;Administrator&rdquo;. The Board shall at all times retain the authority to act as the Administrator
and to amend, alter, change or revoke any authority previously granted to a Committee or to an Officer or Officers to act as the Administrator.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(iv)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Administration
Errors</U>. In the event an Award is granted in a manner inconsistent with the provisions of this subsection (a), such Award shall be
presumptively valid as of its grant date to the extent permitted by the Applicable Laws.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(b)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Powers
of the Administrator</U>. Subject to Applicable Laws and the provisions of the Plan (including any other powers given to the Administrator
hereunder), and except as otherwise provided by the Board, the Administrator shall have the authority, in its discretion:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(i)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">to
select the Employees, Directors and Consultants to whom Awards may be granted from time to time hereunder;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(ii)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">to
determine whether and to what extent Awards are granted hereunder;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(iii)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">to
determine the number of Shares or the amount of other consideration to be covered by each Award granted hereunder and the exercise price;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(iv)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">to
approve forms of Award Agreements for use under the Plan;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(v)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">to
determine the terms and conditions of any Award granted hereunder;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(vi)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">to
amend the terms of any outstanding Award granted under the Plan, including, but not limited to, the exercise price, grant price, or purchase
price, any restrictions or limitations on the Award, any schedule for lapse of forfeiture restrictions or restrictions on the exercisability
of an Award, and accelerations or waivers thereof, any provisions related to non-competition and recapture of gain on an Award, based
in each case on such considerations as the Administrator in its sole discretion determines; provided that any amendment that would materially
adversely affect the Grantee&rsquo;s rights under an outstanding Award shall not be made without the Grantee&rsquo;s written consent;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(vii)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">to
construe and interpret the terms of the Plan and Awards, including without limitation, any notice of award or Award Agreement, granted
pursuant to the Plan;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(viii)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">to
grant Awards to Employees, Directors and Consultants employed in different countries on such terms and conditions different from those
specified in the Plan as may, in the judgment of the Administrator, be necessary or desirable to further the purpose of the Plan;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(ix)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">to
determine whether, to what extent, and pursuant to what circumstances an Award may be settled in, or the exercise price of an Award may
be paid in, cash, Shares, other Awards, or other property, or an Award may be canceled, forfeited, or surrendered;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(x)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">to
reduce the exercise price per Share subject to an Option;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(xi)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">to
determine whether each Option is to be an Incentive Share Option or a Non-qualified Share Option; and</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(xii)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">to
take such other action, not inconsistent with the terms of the Plan, as the Administrator deems appropriate.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The express grant in the Plan of any specific
power to the Administrator shall not be construed as limiting any power or authority of the Administrator; provided that any Administrator
that is not the Board may not exercise any right or power reserved to the Board. Any decision made, or action taken, by the Administrator
or in connection with the administration of this Plan shall be final, conclusive and binding on all persons having an interest in the
Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(c)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Indemnification</U>.
In addition to such other rights of indemnification as they may have as members of the Board or as Officers or Employees of the Company
or any other Group Member, members of the Board and any Officers or Employees of the Company or any other Group Member to whom authority
to act for the Board, the Administrator or the Company is delegated shall be defended and indemnified by the Company to the extent permitted
by law on an after-tax basis against all reasonable expenses, including attorneys&rsquo; fees, actually and necessarily incurred in connection
with the defense of any claim, investigation, action, suit or proceeding, or in connection with any appeal therein, to which they or any
of them may be a party by reason of any action taken or failure to act under or in connection with the Plan, or any Award granted hereunder,
and against all amounts paid by them in settlement thereof (provided such settlement is approved by the Company) or paid by them in satisfaction
of a judgment in any such claim, investigation, action, suit or proceeding, except in relation to matters as to which it shall be adjudged
in such claim, investigation, action, suit or proceeding that such person is liable for gross negligence, bad faith or intentional misconduct;
provided, however, that within thirty (30) days after the institution of such claim, investigation, action, suit or proceeding, such person
shall offer to the Company, in writing, the opportunity at the Company&rsquo;s expense to defend the same.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">5.</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Eligibility</U>.
Subject to Section&nbsp;6(b), Awards may be granted to Employees, Directors and Consultants. An Employee, Director or Consultant who has
been granted an Award may, if otherwise eligible, be granted additional Awards.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">6.</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Options</U>.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(a)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>General</U>.
The Administrator is authorized to grant Options to Grantees on the following terms and conditions:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(i)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Exercise
Price</U>. The exercise price per Share subject to an Option shall be determined by the Administrator and set forth in the Award Agreement
which may be a fixed or variable price related to the Fair Market Value of the Shares. The exercise price per Share subject to an Option
may be adjusted in the absolute discretion of the Administrator, the determination of which shall be final, binding and conclusive. For
the avoidance of doubt, to the extent not prohibited by Applicable Law, a re-pricing of Options mentioned in the preceding sentence shall
be effective without the approval of the Company&rsquo;s shareholders or the approval of the Grantees. Notwithstanding the foregoing,
the following rules&nbsp;shall apply: (1)&nbsp;the exercise price per Share for an Option granted to a Grantee who is subject to taxation
under the Code shall not be less than 100% of the Fair Market Value of a Share on the date of grant of such Option, (2)&nbsp;the exercise
price per Share for an Option granted to a Grantee that is designated as an Incentive Share Option shall comply with the provisions of
Section&nbsp;6(b)(iii)&nbsp;below, and (3)&nbsp;the exercise price per Share subject to an Option under an Award Agreement shall not be
increased without the approval of the relevant Grantees.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(ii)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Time
and Conditions of Exercise</U>. The Administrator shall determine the time or times at which an Option may be exercised in whole or in
part, including exercise prior to vesting; provided that the term of any Option granted under the Plan shall not exceed ten years. The
Administrator shall also determine any conditions, if any, that must be satisfied before all or part of an Option may be exercised, including
setting any performance objectives or other vesting criteria.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(iii)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Payment</U>.
The Administrator shall determine the methods by which the exercise price of an Option may be paid, the form of payment, including, without
limitation (1)&nbsp;cash or check denominated in U.S. Dollars, (2)&nbsp;cash or check in Chinese Renminbi, (3)&nbsp;cash or check denominated
in any other local currency as approved by the Administrator, (4)&nbsp;Shares held for such period of time as may be required by the Administrator
in order to avoid adverse financial accounting consequences and having a Fair Market Value on the date of delivery equal to the aggregate
exercise price of the Option or exercised portion thereof, (5)&nbsp;the delivery of a notice that the Grantee has placed a market sell
order with a broker with respect to Shares then issuable upon exercise of the Option, and that the broker has been directed to pay a sufficient
portion of the net proceeds of the sale to the Company in satisfaction of the Option exercise price; provided that payment of such proceeds
is then made to the Company upon settlement of such sale, and the methods by which Shares shall be delivered or deemed to be delivered
to Grantees, (6)&nbsp;the withholding of Shares otherwise issuable under an Award having a Fair Market Value equal to the Taxes being
withheld by the Company, (7)&nbsp;other property acceptable to the Administrator with a Fair Market Value equal to the exercise price,
or (8)&nbsp;any combination of the foregoing. Notwithstanding any other provision of the Plan to the contrary, no Grantee who is a member
of the Board or an &ldquo;executive officer&rdquo; of the Company within the meaning of Section&nbsp;13(k)&nbsp;of the Exchange Act shall
be permitted to pay the exercise price of an Option in any method which would violate Section&nbsp;13(k)&nbsp;of the Exchange Act.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(iv)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Type
of Option</U>. All Options shall be separately designated as Incentive Share Options or Non-qualified Share Options at the time of grant.
Notwithstanding the foregoing, the Company shall have no liability to any Grantee or any other person if an Option designated as an Incentive
Share Option fails to qualify as such at any time or if an Option is determined to constitute &ldquo;nonqualified deferred compensation&rdquo;
within the meaning of Section&nbsp;409A of the Code and the terms of such Option do not satisfy the requirements of Section&nbsp;409A
of the Code. To the extent that all or a portion of an Option is designated as an Incentive Share Option but fails to satisfy all of the
applicable requirements to be treated as an Incentive Share Option, it shall be treated as a Non-qualified Share Option.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(v)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Evidence
of Grant</U>. All Options shall be evidenced by an Award Agreement between the Company and the Grantee. The Award Agreement shall include
such additional provisions as may be specified by the Administrator.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(b)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Incentive
Share Options</U>. Incentive Share Options shall be granted only to Employees of the Company or a Subsidiary of the Company. The terms
of any Incentive Share Options granted pursuant to the Plan, in addition to the requirements of Section&nbsp;<FONT STYLE="font-family: Angsana New,serif">&lrm;6(a)</FONT>,
must comply with the following additional provisions of this Section&nbsp;<FONT STYLE="font-family: Angsana New,serif">&lrm;</FONT>6(b):</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(i)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Expiration
of Option</U>. An Incentive Share Option may not be exercised to any extent by anyone after the first to occur of the following events,
provided that an earlier time may be set forth in the Award Agreement:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in">a.</TD><TD STYLE="text-align: justify">Ten years from the date it is granted, provided, however, that in the case of an Incentive Share Option
granted to a Grantee who, at the time the Option is granted, owns Shares possessing more than ten percent of the total combined voting
power of all classes of shares of the Company or any Parent or Subsidiary of the Company within the meaning of Section&nbsp;422(b)(6)&nbsp;of
the Code and the regulations promulgated thereunder, the term of the Incentive Share Option shall be five years from the date of grant
thereof or such shorter term as set forth in the Award Agreement;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in">b.</TD><TD STYLE="text-align: justify">Three months after the Grantee&rsquo;s termination of employment as an Employee; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in">c.</TD><TD STYLE="text-align: justify">One year after the date of the Grantee&rsquo;s termination of employment or service on account of Disability
or death. Upon the Grantee&rsquo;s Disability or death, any Incentive Share Options exercisable at the Grantee&rsquo;s Disability or death
may be exercised by the Grantee&rsquo;s legal representative or representatives, by the person or persons entitled to do so pursuant to
the Grantee&rsquo;s last will and testament, or, if the Grantee fails to make testamentary disposition of such Incentive Share Option
or dies intestate, by the person or persons entitled to receive the Incentive Share Option pursuant to the applicable laws of descent
and distribution.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(ii)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Individual
Dollar Limitation</U>. The aggregate Fair Market Value (determined as of the time the Option is granted) of all Shares with respect to
which Incentive Share Options are first exercisable by a Grantee in any calendar year may not exceed US$100,000 or such other limitation
as imposed by Section&nbsp;422(d)&nbsp;of the Code, or any successor provision. To the extent that Incentive Share Options are first exercisable
by a Grantee in excess of such limitation, the excess shall be considered Non-Qualified Share Options. For purposes of applying this rule,
options shall be taken into account in the order in which they are granted.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(iii)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Exercise
Price</U>. The exercise price of an Incentive Share Option shall be equal to the Fair Market Value on the date of grant. However, the
exercise price of any Incentive Share Option granted to any individual who, at the date of grant, owns Shares possessing more than ten
percent of the total combined voting power of all classes of shares of the Company or any Parent or Subsidiary of the Company may not
be less than 110% of Fair Market Value on the date of grant.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(iv)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Transfer
Restriction; Notification</U>. An Incentive Share Option shall not be transferable except by will or by the laws of descent and distribution.
The Grantee shall give the Company prompt notice of any disposition of Shares acquired by exercise of an Incentive Share Option within
(1)&nbsp;two years from the date of grant of such Incentive Share Option or (2)&nbsp;one year after the transfer of such Shares to the
Grantee.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(v)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Right
to Exercise</U>. During a Grantee&rsquo;s lifetime, an Incentive Share Option may be exercised only by the Grantee.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(vi)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Shareholder
Approval</U>. The Company&rsquo;s shareholders must have approved the Plan within one (1)&nbsp;year following the Effective Date in order
for the Incentive Share Options to be granted.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(vii)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Time
Limit for Grants</U>. No grant of Incentive Share Options may be made at or after the 10<SUP>th</SUP> anniversary of the Effective Date.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">7.</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Restricted
Share Units</U>.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(a)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Grant
of Restricted Share Units</U>. The Administrator, at any time and from time to time, may grant Restricted Share Units to Grantees as the
Administrator, in its sole discretion, shall determine. The Administrator, in its sole discretion, shall determine the number of Restricted
Share Units to be granted to each Grantee.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(b)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Restricted
Share Units Award Agreement</U>. Each Award of Restricted Share Units shall be evidenced by an Award Agreement that shall specify any
vesting conditions, the number of Restricted Share Units granted, and such other terms and conditions as the Administrator, in its sole
discretion, shall determine.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(c)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Form&nbsp;and
Timing of Payment of Restricted Share Units</U>. At the time of grant, the Administrator shall specify the date or dates on which the
Restricted Share Units shall become fully vested and nonforfeitable. Upon vesting, the Administrator, in its sole discretion, may pay
Restricted Share Units in the form of cash, in Shares or in a combination thereof.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(d)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Forfeiture/Repurchase</U>.
Except as otherwise determined by the Administrator at the time of the grant of the Award or thereafter, upon termination of employment
or service during the applicable restriction period, Restricted Share Units that are at that time unvested shall be forfeited or repurchased
in accordance with the Award Agreement; provided, however, the Administrator may (a)&nbsp;provide in any Restricted Share Unit Award Agreement
that restrictions or forfeiture and repurchase conditions relating to Restricted Share Units will be waived in whole or in part in the
event of terminations resulting from specified causes, and (b)&nbsp;in other cases waive in whole or in part restrictions or forfeiture
and repurchase conditions relating to Restricted Share Units.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in">8.</TD><TD STYLE="text-align: justify"><U>Terms and Conditions of Awards</U>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(a)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Conditions
of Award</U>. Subject to the terms of the Plan, the Administrator shall determine the provisions, terms, and conditions of each Award
including, but not limited to, the Award vesting schedule, forfeiture provisions, form of payment (cash, Shares, or other consideration)
upon settlement of the Award, payment contingencies, and satisfaction of any performance criteria. The performance criteria established
by the Administrator may be based on any one of, or combination of, the following: (i)&nbsp;increase in share price, (ii)&nbsp;earnings
per share, (iii)&nbsp;total shareholder return, (iv)&nbsp;operating margin, (v)&nbsp;gross margin, (vi)&nbsp;return on equity, (vii)&nbsp;return
on assets, (viii)&nbsp;return on investment, (ix)&nbsp;operating income, (x)&nbsp;net operating income, (xi)&nbsp;pre-tax profit, (xii)&nbsp;cash
flow, (xiii)&nbsp;revenue, (xiv)&nbsp;expenses, (xv)&nbsp;earnings before interest, taxes and depreciation, (xvi)&nbsp;economic value
added, (xvii)&nbsp;market share, or (xviii)&nbsp;such other performance criteria determined by the Administrator. The performance criteria
may be applicable to the Company, any other Group Member and/or any individual business units of the Company or any other Group Member.
Partial achievement of the specified criteria may result in a payment or vesting corresponding to the degree of achievement as specified
in the Award Agreement. In addition, the performance criteria shall be calculated in accordance with generally accepted accounting principles,
but excluding the effect (whether positive or negative) of any change in accounting standards and any extraordinary, unusual or nonrecurring
item, as determined by the Administrator, occurring after the establishment of the performance criteria applicable to the Award.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(b)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Acquisitions
and Other Transactions</U>. The Administrator may issue Awards under the Plan in settlement, assumption or substitution for, outstanding
awards or obligations to grant future awards in connection with any Group Member acquiring another entity, an interest in another entity
or an additional interest in a Related Entity whether by merger, stock purchase, asset purchase or other form of transaction (&ldquo;<U>Substitute
Awards</U>&rdquo;). Substitute Awards shall not be charged against the limitation provided for in Section&nbsp;3(a).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(c)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Deferral
of Award Payment</U>. Subject to the terms of the Plan, the Administrator may establish one or more programs under the Plan to permit
selected Grantees the opportunity to elect to defer receipt of consideration upon satisfaction of performance criteria or other event
that absent the election would entitle the Grantee to payment or receipt of Shares or other consideration under an Award. The Administrator
may establish the election procedures, the timing of such elections, the mechanisms for payments of, and accrual of interest or other
earnings, if any, on amounts, Shares or other consideration so deferred, and such other terms, conditions, rules&nbsp;and procedures that
the Administrator deems advisable for the administration of any such deferral program.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(d)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Separate
Programs</U>. Subject to the terms of the Plan, the Administrator may establish one or more separate programs under the Plan for the purpose
of issuing Awards to one or more classes of Grantees on such terms and conditions as determined by the Administrator from time to time.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(e)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Deferral</U>.
If the vesting or receipt of Shares under an Award is deferred to a later date, any amount (whether denominated in Shares or cash) paid
in addition to the original number of Shares subject to such Award will not be treated as an increase in the number of Shares subject
to the Award if the additional amount is based either on a reasonable rate of interest or on one or more predetermined actual investments
such that the amount payable by the Company at the later date will be based on the actual rate of return of a specific investment (including
any decrease as well as any increase in the value of an investment).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(f)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Transferability
of Awards</U>. Awards shall be transferable (i)&nbsp;by will and by the laws of descent and distribution and (ii)&nbsp;during the lifetime
of the Grantee, to the extent and in the manner authorized by the Administrator and subject to the terms of the Plan. Notwithstanding
the foregoing, the Grantee may designate one or more beneficiaries of the Grantee&rsquo;s Award in the event of the Grantee&rsquo;s death
on a beneficiary designation form provided by the Administrator, and such beneficiary or beneficiaries, in the event of the death of the
Grantee, shall thereafter be entitled to exercise any Option granted to such Grantee.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(g)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Time
of Granting Awards</U>. The date of grant of an Award shall for all purposes be the date on which the Administrator makes the determination
to grant such Award, or such other later date as is determined by the Administrator.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(h)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Paperless
Administration</U>. Subject to Applicable Laws, the Administrator may make Awards, provide applicable disclosure and procedures for exercise
of Awards by an internet website or interactive voice response system for the paperless administration of Awards.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(i)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Foreign
Currency</U>. A Grantee may be required to provide evidence that any currency used to pay the exercise price of any Award was acquired
and taken out of the jurisdiction in which the Grantee resides in accordance with Applicable Laws, including foreign exchange control
laws and regulations. In the event the exercise price for an Award is paid in Chinese Renminbi or other foreign currency, as permitted
by the Administrator, the amount payable will be determined by conversion from U.S. dollars at the official rate promulgated by the People&rsquo;s
Bank of China for Chinese Renminbi, or for jurisdictions other than the PRC, the exchange rate as selected by the Administrator on the
date of exercise.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">9.</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Taxes</U>.
The Company shall have the power and the right to deduct from any amount otherwise due to the Grantee, or withhold, or require a Grantee
to remit to the Company, an amount sufficient to satisfy federal, state, provincial and local income, employment or other related taxes,
in any jurisdiction, required by Applicable Law to be withheld with respect to any taxable event arising as a result of this Plan and
any Award. With respect to withholding required in connection with any Award, the Company may require, or the Administrator may permit
a Grantee to elect, that the withholding requirement be satisfied, in whole or in part, by having the Company withhold from Shares to
be issued pursuant to such Award a number of Shares having an aggregate Fair Market Value on the date of withholding that would satisfy
the withholding amount due; provided, however, that the amount withheld does not exceed the maximum statutory tax rates in such Grantee&rsquo;s
applicable jurisdiction for federal, state, provincial or local, employment or other related tax purposes that are applicable to such
taxable income. Any election by a Grantee shall be irrevocable, made in writing, and shall be subject to any restrictions or limitations
that the Administrator, in its sole discretion, deems appropriate. For purposes of Share withholding, the Fair Market Value of the withheld
Shares shall be determined consistent with the applicable provisions of the applicable tax requirements, including without limitation
the Code (as applicable), together with the regulations and official guidance promulgated thereunder.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">10.</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Conditions
Upon Issuance of Shares</U>. If at any time the Administrator determines that the delivery of Shares pursuant to the exercise, vesting
or any other provision of an Award is or may be unlawful under Applicable Laws, the exercise, vesting or right to otherwise receive Shares
pursuant to the terms of an Award shall be suspended until the Administrator determines that such delivery is lawful and shall be further
subject to the approval of counsel for the Company with respect to such compliance. The Company shall have no obligation to effect any
registration or qualification of the Shares under any Applicable Laws.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">11.</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Adjustments
Upon Changes in Capitalization</U>. Subject to any required action by the shareholders of the Company and Section&nbsp;12 hereof, the
number of Shares covered by each outstanding Award, the exercise price of each Award, and the number of Shares which have been authorized
for issuance under the Plan but as to which no Awards have yet been granted or which have been returned to the Plan, as well as any other
terms that the Administrator determines require adjustment shall be proportionately adjusted for (i)&nbsp;any increase or decrease in
the number of issued Shares resulting from a share split, reverse share split, share dividend, combination or reclassification of the
Shares, or similar transaction affecting the Shares, (ii)&nbsp;any other increase or decrease in the number of issued Shares effected
without receipt of consideration by the Company, or (iii)&nbsp;any other transaction with respect to Shares including a corporate merger,
consolidation, acquisition of property or shares, separation (including a spin-off or other distribution of shares or property), reorganization,
liquidation (whether partial or complete) or any similar transaction; provided, however that conversion of any convertible securities
of the Company shall not be deemed to have been &ldquo;effected without receipt of consideration.&rdquo; In the event of any distribution
of cash or other assets to shareholders other than a normal cash dividend, the Administrator shall also make such adjustments as provided
in this Section&nbsp;11 or substitute, exchange or grant Awards to effect such adjustments (collectively &ldquo;adjustments&rdquo;). Any
such adjustments to outstanding Awards will be effected in a manner that precludes the enlargement of rights and benefits under such Awards.
In connection with the foregoing adjustments, the Administrator may, in its discretion, prohibit the issuance of Shares, cash or other
consideration pursuant to Awards during certain periods of time. Except as the Administrator determines, no issuance by the Company of
shares of any class, or securities convertible into shares of any class, shall affect, and no adjustment by reason hereof shall be made
with respect to, the number or price of Shares subject to an Award. In the case of adjustments made pursuant to this Section&nbsp;11,
unless the Administrator specifically determines that such adjustment is in the best interests of the Company or its Subsidiaries, the
Administrator shall, in the case of Incentive Share Options, ensure that any adjustments under this Section&nbsp;11 will not constitute
a modification, extension or renewal of the Incentive Share Options within the meaning of Section&nbsp;424(h)(3)&nbsp;of the Code and
in the case of Non-qualified Share Options, ensure that any adjustments under this Section&nbsp;11 will not constitute a modification
of such Non-qualified Share Options within the meaning of Section&nbsp;409A of the Code.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">12.</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Corporate
Transaction</U>. Except as may otherwise be provided in any Award Agreement or any other written agreement entered into by and between
the Company and a Grantee, if a Corporate Transaction occurs, the Company as determined in the sole discretion of the Administrator and
without the consent of the Grantee may take one or more of the following actions, including but not limited to with respect to a single
Award:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">(a)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">accelerate
the vesting, in whole or in part, of any Award;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(b)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">purchase
any Award for an amount of cash or Shares equal to the value that could have been attained upon the realization of the Grantee&rsquo;s
rights had such Award been currently fully vested (and, for the avoidance of doubt, if as of such date the Administrator determines in
good faith that no amount would have been attained upon the realization of the Grantee&rsquo;s rights, then such Award may be terminated
by the Company without payment); or</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(c)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">provide
for the assumption, conversion or replacement of any Award by the successor corporation or a parent or subsidiary of the successor corporation
with other rights (including cash) or property selected by the Administrator in its sole discretion or the assumption or substitution
of such Award by the successor or surviving corporation, or a parent or subsidiary thereof, with such appropriate adjustments as to the
number and kind of Shares and exercise price as the Administrator deems, in its sole discretion, reasonable, equitable and appropriate.
In the event the successor corporation refuses to assume, convert or replace outstanding Awards, the Awards shall fully vest and the Grantee
shall have the right to receive payment as to all of the Shares subject to the Award.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">13.</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Effective
Date and Term of Plan</U>. The Plan shall become effective upon the Effective Date. It shall continue in effect for a term of ten (10)&nbsp;years
unless sooner terminated. Subject to Applicable Laws, Awards may be granted under the Plan upon its becoming effective.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">14.</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Amendment,
Suspension or Termination of the Plan</U>.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(a)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">The
Board may at any time amend, suspend or terminate the Plan; provided, however, that no such amendment shall be made without the approval
of the Company&rsquo;s shareholders to the extent such approval is required by Applicable Laws. In addition, in order to assure the viability
of Awards granted to Grantees employed in various jurisdictions, the Administrator may, in its sole discretion, provide for such special
terms as it may consider necessary or appropriate to accommodate differences in local law, tax policy or custom applicable in the jurisdiction
in which the Grantee resides or is employed. Moreover, the Administrator may approve such supplements to, amendments, restatements, or
alternative versions of the Plan as it may consider necessary or appropriate for such purposes without thereby affecting the terms of
the Plan as in effect for any other purpose. Notwithstanding the foregoing, the Administrator may not take any actions hereunder, and
no Awards shall be granted that would violate any Applicable Laws.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(b)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">No
Award may be granted during any suspension of the Plan or after termination of the Plan.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(c)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">No
suspension or termination of the Plan (including termination of the Plan under Section&nbsp;12 above) shall adversely affect any rights
under Awards already granted to a Grantee.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">15.</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Reservation
of Shares</U>.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(a)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">The
Company, during the term of the Plan, will at all times reserve and keep available such number of Shares as shall be sufficient to satisfy
the requirements of the Plan.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(b)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">The
inability of the Company to obtain authority from any regulatory body having jurisdiction, which authority is deemed by the Company&rsquo;s
counsel to be necessary to the lawful issuance and sale of any Shares hereunder, shall relieve the Company of any liability in respect
of the failure to issue or sell such Shares as to which such requisite authority shall not have been obtained.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">16.</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>No
Effect on Terms of Employment/Consulting Relationship</U>. The Plan shall not confer upon any Grantee any right with respect to the Grantee&rsquo;s
Continuous Service, nor shall it interfere in any way with his or her right or the right of a Group member to terminate the Grantee&rsquo;s
Continuous Service at any time, with or without cause, and with or without notice.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">17.</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>No
Effect on Retirement and Other Benefit Plans</U>. Except as specifically provided in a retirement or other benefit plan of the Company
or any other Group Member, Awards shall not be deemed compensation for purposes of computing benefits or contributions under any retirement
plan of the Company or any other Group Member, and shall not affect any benefits under any other benefit plan of any kind or any benefit
plan subsequently instituted under which the availability or amount of benefits is related to level of compensation. The Plan is not a
 &ldquo;Pension Plan&rdquo; or &ldquo;Welfare Plan&rdquo; under the U.S. Employee Retirement Income Security Act of 1974, as amended.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">18.</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Unfunded
Obligation</U>. Grantees shall have the status of general unsecured creditors of the Company. Any amounts payable to Grantees pursuant
to the Plan shall be unfunded and unsecured obligations for all purposes, including, without limitation, Title I of the Employee Retirement
Income Security Act of 1974, as amended. Neither the Company nor any other Group Member shall be required to segregate any monies from
its general funds, or to create any trusts, or establish any special accounts with respect to such obligations. The Company shall retain
at all times beneficial ownership of any investments, including trust investments, which the Company may make to fulfill its payment obligations
hereunder. Any investments or the creation or maintenance of any trust or any Grantee account shall not create or constitute a trust or
fiduciary relationship between the Administrator, the Company or any other Group Member and a Grantee, or otherwise create any vested
or beneficial interest in any Grantee or the Grantee&rsquo;s creditors in any assets of the Company or any other Group Member. The Grantees
shall have no claim against the Company or any other Group Member for any changes in the value of any assets that may be invested or reinvested
by a Group Member with respect to the Plan.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">19.</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Construction</U>.
Captions and titles contained herein are for convenience only and shall not affect the meaning or interpretation of any provision of the
Plan. Except when otherwise indicated by the context, the singular shall include the plural and the plural shall include the singular.
Use of the term &ldquo;or&rdquo; is not intended to be exclusive, unless the context clearly requires otherwise.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">20.</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Nonexclusivity
of the Plan</U>. Neither the adoption of the Plan by the Board, the submission of the Plan to the shareholders of the Company for approval,
nor any provision of the Plan will be construed as creating any limitations on the power of the Board to adopt such additional compensation
arrangements as it may deem desirable, including, without limitation, the granting of Awards otherwise than under the Plan, and such arrangements
may be either generally applicable or applicable only in specific cases.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">21.</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Code
Section&nbsp;409A Compliance</U>. To the extent applicable, it is intended that the Plan and any grants hereunder comply with the requirements
of Section&nbsp;409A of the Code. Any provision that would cause the Plan or any awards granted hereunder to fail to satisfy Section&nbsp;409A
of the Code shall have no force or effect until amended to comply with Section&nbsp;409A, which amendment may be retroactive to the extent
permitted by Section&nbsp;409A.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">22.</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Successors</U>.
Except as otherwise provided, any awards under the Plan shall be binding and inure to the benefit of and be enforceable by the Company
and its assigns and successors in interest.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">23.</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Severability</U>.
The provisions of the Plan and any Award Agreement shall be deemed severable. The invalidity or unenforceability of any provision of the
Plan or an Award Agreement in any jurisdiction shall not affect the validity, legality or enforceability of the remainder of the Plan
or Award Agreement, as applicable, in such jurisdiction or the validity, legality or enforceability of any provision of the Plan or Award
Agreement, as applicable, in any other jurisdiction, it being intended that all rights and obligations of the parties hereunder shall
be enforceable to the fullest extent permitted by Applicable Law.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<DOCUMENT>
<TYPE>EX-5.1
<SEQUENCE>3
<FILENAME>tm238153d1_ex5-1.htm
<DESCRIPTION>EXHIBIT 5.1
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
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<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit&nbsp;5.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">Ref:</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">KON/302157-000001/25887030v2</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">Direct tel</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">+852
3690 7595</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">Email&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Katherine.Ng@maples.com</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">NetEase,&nbsp;Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">NetEase Building</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">No.&nbsp;599 Wangshang Road<BR>
Binjiang District</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Hangzhou<BR>
People&rsquo;s Republic of China</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">2 March&nbsp;2023</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Dear Sir or Madam</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>NetEase,&nbsp;Inc. (the &ldquo;Company&rdquo;)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We have acted as Cayman Islands legal counsel
to the Company in connection with a registration statement on Form&nbsp;S-8 (Registration No.&nbsp;333-234189), including the post-effective
amendment no. 1 to the registration statement on Form&nbsp;S-8 to be filed with the Securities and Exchange Commission (the &ldquo;<B>Commission</B>&rdquo;)
on 2 March&nbsp;2023 (the &ldquo;<B>Registration Statement</B>&rdquo;, which term does not include any other document or agreement whether
or not specifically referred to therein or attached as an exhibit or schedule thereto) relating to the registration under the United
States Securities Act of 1933, as amended, (the &ldquo;<B>Securities Act</B>&rdquo;) of 322,458,300 ordinary shares, par value US$0.0001
per share (the &ldquo;<B>Shares</B>&rdquo;), issuable by the Company pursuant to the Company&rsquo;s Amended and Restated 2019 Share
Incentive Plan (the &ldquo;<B>Plan</B>&rdquo;, which term does not include any other document or agreement whether or not specifically
referred to therein or attached as an exhibit or schedule thereto).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For the purposes of giving this opinion, we have
examined copies of the Registration Statement and the Plan. We have also reviewed copies of the amended and restated memorandum and articles
of association of the Company adopted by a special resolution passed on 23 June&nbsp;2021 (the &ldquo;<B>Memorandum and Articles</B>&rdquo;)
and the minutes (the &ldquo;<B>2019 Minutes</B>&rdquo;) of the meeting of the directors of the Company held on 6 August 2019 (the &ldquo;<B>2019
Meeting</B>&rdquo;) and the minutes (the &ldquo;<B>2023 Minutes</B>&rdquo; and together with the 2019 Minutes, the &ldquo;<B>Minutes</B>&rdquo;)
of the meeting of the directors of the Company held on 22 February 2023 (the &ldquo;<B>2023 Meeting</B>&rdquo; and together with the
2019 Meeting, the &ldquo;<B>Meetings</B>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Based upon, and subject to, the assumptions and
qualifications set out below, and having regard to such legal considerations as we deem relevant, we are of the opinion that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">1.</TD><TD STYLE="text-align: justify">The Shares to be issued by the Company and
                                            registered under the Registration Statement have been duly and validly authorised.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2.</TD><TD STYLE="text-align: justify">When issued and paid for in accordance with
                                            the terms of the Plan and in accordance with the Minutes, and appropriate entries are
                                            made in the register of members (shareholders) of the Company, the Shares will be legally
                                            and validly issued, fully paid and non-assessable.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In this opinion letter, the phrase &ldquo;non-assessable&rdquo;
means, with respect to the issuance of Shares, that a shareholder shall not, in respect of the relevant Shares and in the absence of
a contractual arrangement, or an obligation pursuant to the memorandum and articles of association, to the contrary, have any obligation
to make further contributions to the Company&rsquo;s assets (except in exceptional circumstances, such as involving fraud, the establishment
of an agency relationship or an illegal or improper purpose or other circumstances in which a court may be prepared to pierce or lift
the corporate veil).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">These opinions are subject to the qualification
that under the Companies Act (As Revised) of the Cayman Islands, the register of members of a Cayman Islands company is by statute regarded
as <I>prima facie</I> evidence of any matters which the Companies Act (As Revised) directs or authorises to be inserted therein. A third
party interest in the shares in question would not appear. An entry in the register of members may yield to a court order for rectification
(for example, in the event of fraud or manifest error).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">These opinions are given only as to, and based
on, circumstances and matters of fact existing and known to us on the date of this opinion letter. These opinions only relate to the
laws of the Cayman Islands which are in force on the date of this opinion letter. We express no opinion as to the meaning, validity or
effect of any references to foreign (i.e. non-Cayman Islands) statutes, rules, regulations, codes, judicial authority or any other promulgations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We have also relied upon the assumptions, which
we have not independently verified, that (a)&nbsp;all signatures, initials and seals are genuine, (b)&nbsp;copies of documents, conformed
copies or drafts of documents provided to us are true and complete copies of, or in the final forms of, the originals, (c)&nbsp;where
a document has been provided to us in draft or undated form, it will be duly executed, dated and unconditionally delivered in the same
form as the last version provided to us, (d)&nbsp;the Memorandum and Articles remain in full force and effect and are unamended, (e)&nbsp;the
Minutes are a true and correct record of the proceedings of the Meetings, which were duly convened and held, and at which a quorum was
present throughout, in each case, in the manner prescribed in the memorandum and articles of association of the Company in force at the
relevant time and the resolutions set out in the Minutes were duly passed in the manner prescribed in the memorandum and articles of association of the Company in force at the relevant
time (including, without limitation, with respect to the disclosure of interests (if any) by directors of the Company) and have not been
amended, varied or revoked in any respect, (f)&nbsp;there is nothing under any law (other than the laws of the Cayman Islands) which
would or might affect the opinions set out in this opinion letter, (g)&nbsp;there is nothing contained in the minute book or corporate
records of the Company (which we have not inspected) which would or might affect the opinions set out in this opinion letter, and (h)&nbsp;upon
the issue of any Shares, the Company will receive consideration which shall be not less than the par value of such Shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">This opinion letter is to and for the benefit
solely of the addressee and may not be relied upon by any other person for any purpose.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We consent to the use of this opinion letter
as an exhibit to the Registration Statement and further consent to all references to us in the Registration Statement and any amendments
thereto. In giving such consent, we do not consider that we are &ldquo;experts&rdquo; within the meaning of such term as used in the
Securities Act, or the rules&nbsp;and regulations of the Commission issued thereunder, with respect to any part of the Registration Statement,
including this opinion letter as an exhibit or otherwise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Yours faithfully</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">/s/ <FONT STYLE="font-family: Times New Roman, Times, Serif">Maples
and Calder (Hong Kong) LLP</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Maples and Calder (Hong Kong) LLP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<FILENAME>tm238153d1_ex23-1.htm
<DESCRIPTION>EXHIBIT 23.1
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Exhibit&nbsp;23.1</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING
FIRM</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We hereby consent to the incorporation by reference
in this Registration Statement on Form&nbsp;S-8 of NetEase,&nbsp;Inc. of our report dated April&nbsp;28, 2022 relating to the financial
statements, and the effectiveness of internal control over financial reporting, which appears in NetEase,&nbsp;Inc.&rsquo;s Annual Report
on Form&nbsp;20-F for the year ended December&nbsp;31, 2021.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">/s/ PricewaterhouseCoopers Zhong Tian LLP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">PricewaterhouseCoopers Zhong Tian LLP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Beijing, the People&rsquo;s Republic of China</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">March&nbsp;1, 2023</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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