<SEC-DOCUMENT>0001193125-17-237237.txt : 20170727
<SEC-HEADER>0001193125-17-237237.hdr.sgml : 20170727
<ACCEPTANCE-DATETIME>20170727060905
ACCESSION NUMBER:		0001193125-17-237237
CONFORMED SUBMISSION TYPE:	SC 13D/A
PUBLIC DOCUMENT COUNT:		3
FILED AS OF DATE:		20170727
DATE AS OF CHANGE:		20170727
GROUP MEMBERS:		INCSIGHT LTD

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			The9 LTD
		CENTRAL INDEX KEY:			0001296774
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-BUSINESS SERVICES, NEC [7389]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			E9
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SC 13D/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-80474
		FILM NUMBER:		17984301

	BUSINESS ADDRESS:	
		STREET 1:		BUILDING NO.3, 690 BIBO ROAD
		STREET 2:		ZHANG JIANG HI-TECH PARK
		CITY:			PUDONG NEW AREA, SHANGHAI
		STATE:			F4
		ZIP:			201203
		BUSINESS PHONE:		(86) 21 - 5172 9999

	MAIL ADDRESS:	
		STREET 1:		2ND FLOOR, ZEPHYR HOUSE, MARY STREET
		STREET 2:		P.O. BOX 709, GEORGE TOWN
		CITY:			GRAND CAYMAN
		STATE:			E9
		ZIP:			-

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Zhu Jun
		CENTRAL INDEX KEY:			0001318069

	FILING VALUES:
		FORM TYPE:		SC 13D/A

	MAIL ADDRESS:	
		STREET 1:		30/F, CITIC PLAZA, NO. 1168
		STREET 2:		NANJING ROAD (W)
		CITY:			SHANGHAI
		STATE:			F4
		ZIP:			200041
</SEC-HEADER>
<DOCUMENT>
<TYPE>SC 13D/A
<SEQUENCE>1
<FILENAME>d421570dsc13da.htm
<DESCRIPTION>SCHEDULE 13D AMENDMENT NO. 3
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<TITLE>Schedule 13D Amendment No. 3</TITLE>
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 <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>UNITED STATES </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>SECURITIES AND EXCHANGE COMMISSION </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Washington, D.C. 20549 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>SCHEDULE
13D/A </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>(Amendment No.&nbsp;3) </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Under the Securities Exchange Act of 1934 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:22pt; font-family:Times New Roman" ALIGN="center"><B>The9 Limited
</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(Name of Issuer) </B></P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Ordinary Shares </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Title
of Class&nbsp;of Securities) </B></P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>88337K104 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(CUSIP Number) </B></P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Jun Zhu</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Incsight Limited</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>c/o
21/F, Building No.&nbsp;3, 690 Bibo Road</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Zhangjiang <FONT STYLE="white-space:nowrap">Hi-Tech</FONT> Park</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Pudong New Area, Shanghai 201203</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>People&#146;s Republic of China</B></P></TD></TR>
</TABLE> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) </B></P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>June&nbsp;8, 2017 </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Date
of Event Which Requires Filing of this Statement) </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">If the filing person has
previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of <FONT STYLE="white-space:nowrap">&#167;&#167;240.13d-1(e),</FONT>
<FONT STYLE="white-space:nowrap">240.13d-1(f)</FONT> or <FONT STYLE="white-space:nowrap">240.13d-1(g),</FONT> check the following box.&nbsp;&nbsp;&#9744; </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Note</B>: Schedules filed in paper format shall
include a signed original and five copies of the schedule, including all exhibits. See <FONT STYLE="white-space:nowrap">&#167;240.13d-7</FONT> for other parties to whom copies are to be sent. </P>
<P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left">*</TD>
<TD ALIGN="left" VALIGN="top">The remainder of this cover page shall be filled out for a reporting person&#146;s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information
which would alter disclosures provided in a prior cover page. </TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The information required on the remainder of this cover page shall not be
deemed to be &#147;filed&#148; for the purpose of Section&nbsp;18 of the Securities Exchange Act of 1934 (&#147;<U>Act</U>&#148;) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the
Act (however, see the Notes). </P> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>

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<TD VALIGN="top">CUSIP&nbsp;No. 88337K104</TD>
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<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt"><FONT STYLE="font-size:10pt"><B>&nbsp;&nbsp;1&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" COLSPAN="5" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">NAMES OF
REPORTING PERSONS</P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:12pt; font-family:Times New Roman">Jun Zhu</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt"><B>&nbsp;&nbsp;2</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" COLSPAN="5" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">CHECK THE APPROPRIATE BOX IF A MEMBER
OF A GROUP</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&#9744;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&#9746;</P>
<P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:12pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt"><FONT STYLE="font-size:10pt"><B>&nbsp;&nbsp;3</B></FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" COLSPAN="5" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">SEC USE ONLY</P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:1pt">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:12pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt"><FONT STYLE="font-size:10pt"><B>&nbsp;&nbsp;4</B></FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" COLSPAN="5" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">SOURCE OF FUNDS (See Instructions)</P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:12pt; font-family:Times New Roman">PF, OO</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:12pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt"><FONT STYLE="font-size:10pt"><B>&nbsp;&nbsp;5</B></FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" COLSPAN="5" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">CHECK BOX IF DISCLOSURE OF LEGAL
PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d)&nbsp;or 2(e)&nbsp;&nbsp;&#9744;</P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:1pt">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:12pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt"><FONT STYLE="font-size:10pt"><B>&nbsp;&nbsp;6</B></FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" COLSPAN="5" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">CITIZENSHIP OR PLACE OF
ORGANIZATION</P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:12pt; font-family:Times New Roman">Republic of Singapore</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:12pt">
<TD VALIGN="middle" COLSPAN="3" ROWSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">NUMBER&nbsp;OF</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">SHARES</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">BENEFICIALLY</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">OWNED&nbsp;BY</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">EACH</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">REPORTING</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">PERSON</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">WITH</P> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-size:10pt"><B>&nbsp;&nbsp;7&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">SOLE VOTING POWER</P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:12pt; font-family:Times New Roman">24,358,852<SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:12pt">
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-size:10pt"><B>&nbsp;&nbsp;8</B></FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">SHARED VOTING POWER</P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:12pt; font-family:Times New Roman">0</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:12pt">
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-size:10pt"><B>&nbsp;&nbsp;9</B></FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">SOLE DISPOSITIVE POWER</P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:12pt; font-family:Times New Roman">24,358,852<SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:12pt">
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT STYLE="font-size:10pt"><B>10</B></FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">SHARED DISPOSITIVE POWER</P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:12pt; font-family:Times New Roman">0</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:12pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt"><FONT STYLE="font-size:10pt"><B>11</B></FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" COLSPAN="5" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON</P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:12pt; font-family:Times New Roman">24,358,852<SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:12pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt"><FONT STYLE="font-size:10pt"><B>12</B></FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" COLSPAN="5" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">CHECK IF THE AGGREGATE AMOUNT IN ROW
(11) EXCLUDES CERTAIN SHARES (See Instructions)&nbsp;&nbsp;&#9744;</P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:1pt">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:12pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt"><FONT STYLE="font-size:10pt"><B>13</B></FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" COLSPAN="5" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">PERCENT OF CLASS REPRESENTED BY AMOUNT
IN ROW (11)</P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:12pt; font-family:Times New Roman">25.2%<SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP></P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:12pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt"><FONT STYLE="font-size:10pt"><B>14</B></FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" COLSPAN="5" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">TYPE OF REPORTING PERSON (See
Instructions)</P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:12pt; font-family:Times New Roman">IN</P></TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Consists of 18,607,334 ordinary shares and 912,094 ordinary shares represented by American depositary shares held by Incsight Limited, a British Virgin Islands company that is wholly owned and controlled by Jun Zhu.
</TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Based on 96,583,929 ordinary shares of the Issuer issued and outstanding as of July&nbsp;25, 2017. </TD></TR></TABLE>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">CUSIP No. 88337K104 </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR>
<TD WIDTH="5%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="5%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="85%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:12pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt"><FONT STYLE="font-size:10pt"><B>&nbsp;&nbsp;1&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" COLSPAN="5" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">NAMES OF
REPORTING PERSONS</P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:12pt; font-family:Times New Roman">Incsight Limited</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt"><B>&nbsp;&nbsp;2</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" COLSPAN="5" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">CHECK THE APPROPRIATE BOX IF A MEMBER
OF A GROUP</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&#9744;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&#9746;</P>
<P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:12pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt"><FONT STYLE="font-size:10pt"><B>&nbsp;&nbsp;3</B></FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" COLSPAN="5" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">SEC USE ONLY</P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:1pt">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:12pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt"><FONT STYLE="font-size:10pt"><B>&nbsp;&nbsp;4</B></FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" COLSPAN="5" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">SOURCE OF FUNDS (See Instructions)</P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:12pt; font-family:Times New Roman">WC, OO</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:12pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt"><FONT STYLE="font-size:10pt"><B>&nbsp;&nbsp;5</B></FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" COLSPAN="5" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">CHECK BOX IF DISCLOSURE OF LEGAL
PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)&nbsp;&nbsp;&#9744;</P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:1pt">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:12pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt"><FONT STYLE="font-size:10pt"><B>&nbsp;&nbsp;6</B></FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" COLSPAN="5" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">CITIZENSHIP OR PLACE OF
ORGANIZATION</P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:12pt; font-family:Times New Roman">British Virgin Islands</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:12pt">
<TD VALIGN="middle" COLSPAN="3" ROWSPAN="4" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">NUMBER&nbsp;OF</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">SHARES</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">BENEFICIALLY</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">OWNED&nbsp;BY</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">EACH</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">REPORTING</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">PERSON</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">WITH</P> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-size:10pt"><B>&nbsp;&nbsp;7&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">SOLE VOTING POWER</P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:12pt; font-family:Times New Roman">19,519,428<SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:12pt">
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-size:10pt"><B>&nbsp;&nbsp;8</B></FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">SHARED VOTING POWER</P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:12pt; font-family:Times New Roman">0</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:12pt">
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-size:10pt"><B>&nbsp;&nbsp;9</B></FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">SOLE DISPOSITIVE POWER</P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:12pt; font-family:Times New Roman">19,519,428<SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:12pt">
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT STYLE="font-size:10pt"><B>10</B></FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">SHARED DISPOSITIVE POWER</P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:12pt; font-family:Times New Roman">0</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:12pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt"><FONT STYLE="font-size:10pt"><B>11</B></FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" COLSPAN="5" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON</P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:12pt; font-family:Times New Roman">19,519,428<SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:12pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt"><FONT STYLE="font-size:10pt"><B>12</B></FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" COLSPAN="5" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">CHECK IF THE AGGREGATE AMOUNT IN ROW
(11) EXCLUDES CERTAIN SHARES (See Instructions)&nbsp;&nbsp;&#9744;</P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:1pt">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:12pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt"><FONT STYLE="font-size:10pt"><B>13</B></FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" COLSPAN="5" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">PERCENT OF CLASS REPRESENTED BY AMOUNT
IN ROW (11)</P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:12pt; font-family:Times New Roman">20.2%<SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP></P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:12pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt"><FONT STYLE="font-size:10pt"><B>14</B></FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" COLSPAN="5" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">TYPE OF REPORTING PERSON (See
Instructions)</P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:12pt; font-family:Times New Roman">CO</P></TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Consists of 18,607,334 ordinary shares and 912,094 ordinary shares represented by American depositary shares held by Incsight Limited. </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Based on 96,583,929 ordinary shares of the Issuer issued and outstanding as of July&nbsp;25, 2017. </TD></TR></TABLE>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>EXPLANATORY NOTE </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This Amendment No.&nbsp;3 (the &#147;<U>Amendment</U>&#148;) amends the Statement on Schedule 13D initially filed with the Securities and
Exchange Commission (the &#147;<U>SEC</U>&#148;) on December&nbsp;24, 2015, as amended by the Amendment No.&nbsp;1 and Amendment No.&nbsp;2 to the Schedule 13D filed with the SEC on March&nbsp;29, 2016 and January&nbsp;9, 2017, respectively (the
&#147;<U>Schedule 13D</U>&#148;), by Jun Zhu and Incsight Limited (the &#147;<U>Reporting Persons</U>,&#148; and each, a &#147;<U>Reporting Person</U>&#148;) with respect to the ordinary shares, par value US$0.01 per share (the &#147;<U>Ordinary
Shares</U>&#148;), of The9 Limited (the &#147;<U>Issuer</U>&#148;).&nbsp;Capitalized terms used herein but not otherwise defined herein have the meanings given to them in the Schedule 13D. This Amendment is being filed to report a material change in
beneficial ownership by the Reporting Persons, and amends Items 3, 5, 6 and 7 of the Schedule 13D. Except as provided herein, all other information in the Schedule 13D remains the same. </P>
<P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="8%" VALIGN="top" ALIGN="left"><B>Item&nbsp;3.</B></TD>
<TD ALIGN="left" VALIGN="top"><B>Source and Amount of Funds or Other Consideration. </B></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Item 3 of the Schedule 13D is hereby
supplemented by the following. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Pursuant to a share purchase agreement dated as of June&nbsp;7, 2017 by and between the Issuer and
Incsight (the &#147;<U>Purchase Agreement</U>&#148;), on June&nbsp;8, 2017, Incsight purchased, and the Issuer issued, sold and delivered 12,500,000 Ordinary Shares for an aggregate purchase price of US$15&nbsp;million, or US$1.2 per Ordinary Share,
which Incsight agreed to pay within three (3)&nbsp;months after June&nbsp;8, 2017. The purchase price is expected to be funded in whole or in part by a loan to be taken out by Incsight from a commercial bank in China. <B><I></I></B> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In the past, the Issuer granted options to purchase Ordinary Shares (the &#147;<U>Original Options</U>&#148;) to Jun Zhu under the
Issuer&#146;s 2004 Stock Option Plan, as amended (the &#147;<U>Plan</U>&#148;), pursuant to stock option award agreements between the Issuer and Jun Zhu. Pursuant to a letter agreement dated June 1, 2017 between the Issuer and Jun Zhu, the Issuer
repriced and accelerated the Original Options and, in exchange therefor, Jun Zhu agreed to cancel a portion of the Original Options and exercise the balance of the Original Options to acquire 4,839,424 ADSs, which were determined by an independent
appraisal firm to have the same fair value as the Original Options. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">References to the Purchase Agreement in this Schedule 13D are
qualified in their entirety by reference to the full text of the Purchase Agreement (including the appendix), which is filed as <U>Exhibit</U><U></U><U>&nbsp;C</U> hereto and incorporated herein by reference. </P>
<P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="8%" VALIGN="top" ALIGN="left"><B>Item&nbsp;5.</B></TD>
<TD ALIGN="left" VALIGN="top"><B>Interest in Securities of the Issuer. </B></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The first paragraph under Item 5(a)&#150;(b) of
the Schedule 13D is hereby amended and restated as follows. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a)&#150;(b) The responses of each Reporting Person to Rows (11)&nbsp;through
(13)&nbsp;of the cover pages of this Schedule 13D are hereby incorporated by reference in this Item&nbsp;5. The percentage of the class of securities identified pursuant to Item&nbsp;1 beneficially owned by each Reporting Person is based on
96,583,929 Ordinary Shares issued and outstanding as of July&nbsp;25, 2017. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="8%" VALIGN="top" ALIGN="left"><B>Item&nbsp;6.</B></TD>
<TD ALIGN="left" VALIGN="top"><B>Contracts, Arrangements, Understandings or Relationships with respect to Securities of the Issuer. </B></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Item 6 of the Schedule 13D is hereby supplemented by the following. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Incsight and Bosma has terminated the Voting Agreement effective on April&nbsp;1, 2017, pursuant to a termination and release agreement
between them dated April 18, 2017. </P>

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<TR style = "page-break-inside:avoid">
<TD WIDTH="8%" VALIGN="top" ALIGN="left"><B>Item&nbsp;7.</B></TD>
<TD ALIGN="left" VALIGN="top"><B>Material to be Filed as Exhibits. </B></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD></TD>
<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD WIDTH="92%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" ALIGN="center"><B>Exhibit<BR>No.</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center"><B>Description</B></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>A*</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Joint Filing Agreement, dated December&nbsp;24, 2015 by and between the Reporting Persons.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>B*</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Voting Agreement, dated November&nbsp;26, 2004, by and between Incsight and Bosma Limited (incorporated by reference to Exhibit 4.7 to the registration statement on <FONT STYLE="white-space:nowrap">Form&nbsp;F-1&nbsp;filed</FONT>
with the Securities and Exchange Commission on November&nbsp;26, 2004 (File <FONT STYLE="white-space:nowrap">No.&nbsp;333-120810)).</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>C</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Share Purchase Agreement dated June&nbsp;7, 2017 by and between the Issuer and Incsight Limited.</TD></TR>
</TABLE> <P STYLE="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:10%">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="2%" VALIGN="top" ALIGN="left">*</TD>
<TD ALIGN="left" VALIGN="top">Filed previously. </TD></TR></TABLE>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>SIGNATURE </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true,
complete and correct. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Date: July&nbsp;27, 2017 </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="87%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom" COLSPAN="3" ALIGN="center">/s/ Jun Zhu</TD></TR>
<TR STYLE="page-break-inside:avoid ; ">
<TD VALIGN="bottom" COLSPAN="3" NOWRAP> <P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom" COLSPAN="3" ALIGN="center"><B>Jun Zhu</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>Incsight Limited</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman" ALIGN="center">/s/ Jun Zhu</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">Name:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center"><B>Jun Zhu</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">Title:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center"><B>Director</B></TD></TR>
</TABLE></DIV> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[<I>Signature Page to Schedule 13D/A (Amendment No. </I><I>3</I><I>)</I>] </P>
</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.(C)
<SEQUENCE>2
<FILENAME>d421570dex99c.htm
<DESCRIPTION>EX-99.(C)
<TEXT>
<HTML><HEAD>
<TITLE>EX-99.(C)</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit C </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">Execution Version </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>SHARE
PURCHASE AGREEMENT </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>BY AND BETWEEN </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>THE9 LIMITED </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>AND
</B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>INCSIGHT LIMITED </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>June&nbsp;7, 2017 </B></P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>TABLE OF CONTENTS </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR>
<TD WIDTH="96%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000">Page</TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Article I Definitions</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;1.01&nbsp;&nbsp;&nbsp;&nbsp;Definitions</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;1.02&nbsp;&nbsp;&nbsp;&nbsp;Definitional and Interpretative Provisions</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">9</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Article II Description of the Transaction</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">10</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><FONT STYLE="white-space:nowrap">Section&nbsp;2.01&nbsp;&nbsp;&nbsp;&nbsp;Pre-Closing</FONT> and
Closing; Purchase and Sale of Subject Shares</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">10</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><FONT STYLE="white-space:nowrap">Section&nbsp;2.02&nbsp;&nbsp;&nbsp;&nbsp;Pre-Closing</FONT> and
Closing Deliveries and Conditions</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">11</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Article III Representations and Warranties of the Company</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">12</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;3.01&nbsp;&nbsp;&nbsp;&nbsp;Organization, Good Standing and Qualification</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">12</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;3.02&nbsp;&nbsp;&nbsp;&nbsp;Authorization; Enforceable Agreement</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">12</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;3.03&nbsp;&nbsp;&nbsp;&nbsp;Governmental Consents</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">13</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;3.04&nbsp;&nbsp;&nbsp;&nbsp;Capitalization</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">13</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;3.05&nbsp;&nbsp;&nbsp;&nbsp;Noncontravention</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">13</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;3.06&nbsp;&nbsp;&nbsp;&nbsp;Valid Issuance</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">14</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;3.07&nbsp;&nbsp;&nbsp;&nbsp;Subsidiaries</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">14</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;3.08&nbsp;&nbsp;&nbsp;&nbsp;Disclosure</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">15</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;3.09&nbsp;&nbsp;&nbsp;&nbsp;Financial Statements</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">15</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;3.10&nbsp;&nbsp;&nbsp;&nbsp;SEC Filings</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">15</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;3.11&nbsp;&nbsp;&nbsp;&nbsp;Absence of Changes</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">16</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;3.12&nbsp;&nbsp;&nbsp;&nbsp;Litigation</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">17</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;3.13&nbsp;&nbsp;&nbsp;&nbsp;Taxes</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">17</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;3.14&nbsp;&nbsp;&nbsp;&nbsp;Compliance with Laws; Orders and Permits</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">18</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;3.15&nbsp;&nbsp;&nbsp;&nbsp;Real Property</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">18</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;3.16&nbsp;&nbsp;&nbsp;&nbsp;Material Contracts</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">19</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;3.17&nbsp;&nbsp;&nbsp;&nbsp;Intellectual Property</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">19</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;3.18&nbsp;&nbsp;&nbsp;&nbsp;Anti-Corruption Compliance</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">20</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;3.19&nbsp;&nbsp;&nbsp;&nbsp;Listing and Maintenance Requirements</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">20</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;3.20&nbsp;&nbsp;&nbsp;&nbsp;Offering; Exemption</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">21</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;3.21&nbsp;&nbsp;&nbsp;&nbsp;No Integrated Offering</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">21</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;3.22&nbsp;&nbsp;&nbsp;&nbsp;Related Party Transactions</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">21</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;3.23&nbsp;&nbsp;&nbsp;&nbsp;Indebtedness</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">21</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Article IV Representations and Warranties of Purchaser</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">21</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;4.01&nbsp;&nbsp;&nbsp;&nbsp;Organization and Good Standing</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">21</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;4.02&nbsp;&nbsp;&nbsp;&nbsp;Authorization; Enforceable Agreement</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">22</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;4.03&nbsp;&nbsp;&nbsp;&nbsp;Governmental Consents</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">22</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;4.04&nbsp;&nbsp;&nbsp;&nbsp;Purchaser Status</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">22</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Article V Covenants and Additional Agreements of the Parties</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">23</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">i </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="97%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><FONT STYLE="white-space:nowrap">Section&nbsp;5.01&nbsp;&nbsp;&nbsp;&nbsp;Lock-up</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">23</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;5.02&nbsp;&nbsp;&nbsp;&nbsp;Commercially Reasonable Efforts</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">23</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;5.03&nbsp;&nbsp;&nbsp;&nbsp;Use of Proceeds</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">24</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;5.04&nbsp;&nbsp;&nbsp;&nbsp;Access to Information</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">24</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;5.05&nbsp;&nbsp;&nbsp;&nbsp;Rule 144 Reporting</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">25</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;5.06&nbsp;&nbsp;&nbsp;&nbsp;Further Assurances</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">25</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;5.07&nbsp;&nbsp;&nbsp;&nbsp;Public Disclosure</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">25</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;5.08&nbsp;&nbsp;&nbsp;&nbsp;Confidentiality</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">25</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;5.09&nbsp;&nbsp;&nbsp;&nbsp;Conduct of Business Prior to Closing</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">26</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;5.10&nbsp;&nbsp;&nbsp;&nbsp;Notices of Developments</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">26</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;5.11&nbsp;&nbsp;&nbsp;&nbsp;Resale of Subject Shares</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">26</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;5.12&nbsp;&nbsp;&nbsp;&nbsp;Redemption Right</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">27</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;5.13&nbsp;&nbsp;&nbsp;&nbsp;Early Redemption Right</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">27</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;5.14&nbsp;&nbsp;&nbsp;&nbsp;Payment of Redemption Price and Early Redemption
Price</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">29</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;5.15&nbsp;&nbsp;&nbsp;&nbsp;Registration</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">30</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;5.16&nbsp;&nbsp;&nbsp;&nbsp;Review by Counsel</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">32</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Article VI Conditions to <FONT STYLE="white-space:nowrap">Pre-closing</FONT> and Closing</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">32</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;6.01&nbsp;&nbsp;&nbsp;&nbsp;Conditions to the Obligations of Purchaser</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">32</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;6.02&nbsp;&nbsp;&nbsp;&nbsp;Conditions to the Obligations of the Company</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">34</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Article VII Indemnification</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">34</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;7.01&nbsp;&nbsp;&nbsp;&nbsp;Survival of Representations and Warranties</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">34</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;7.02&nbsp;&nbsp;&nbsp;&nbsp;Indemnification by the Company</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">35</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;7.03&nbsp;&nbsp;&nbsp;&nbsp;Materiality Determination</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">35</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;7.04&nbsp;&nbsp;&nbsp;&nbsp;Indemnified Party</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">35</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;7.05&nbsp;&nbsp;&nbsp;&nbsp;Notice of Claims; Procedures</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">35</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;7.06&nbsp;&nbsp;&nbsp;&nbsp;Investigation</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">36</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;7.07&nbsp;&nbsp;&nbsp;&nbsp;Payment</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">36</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;7.08&nbsp;&nbsp;&nbsp;&nbsp;Indemnification relating to Securities Laws
Violations</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">36</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;7.09&nbsp;&nbsp;&nbsp;&nbsp;Exclusive Remedy</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">38</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Article VIII Termination</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">38</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;8.01&nbsp;&nbsp;&nbsp;&nbsp;Termination</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">38</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;8.02&nbsp;&nbsp;&nbsp;&nbsp;Effect of Termination</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">39</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Article IX Miscellaneous</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">39</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;9.01&nbsp;&nbsp;&nbsp;&nbsp;Governing Law</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">39</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;9.02&nbsp;&nbsp;&nbsp;&nbsp;Arbitration</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">39</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;9.03&nbsp;&nbsp;&nbsp;&nbsp;Notices</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">40</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;9.04&nbsp;&nbsp;&nbsp;&nbsp;Specific Performance</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">41</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;9.05&nbsp;&nbsp;&nbsp;&nbsp;Amendments and Waivers</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">41</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;9.06&nbsp;&nbsp;&nbsp;&nbsp;Fees and Expenses</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">42</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;9.07&nbsp;&nbsp;&nbsp;&nbsp;Binding Effect; Benefit; Assignment</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">42</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">ii </P>


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<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
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<TD></TD>
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<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;9.08&nbsp;&nbsp;&nbsp;&nbsp;Counterparts; Effectiveness</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">42</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;9.09&nbsp;&nbsp;&nbsp;&nbsp;Entire Agreement</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">42</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;9.10&nbsp;&nbsp;&nbsp;&nbsp;Severability</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">42</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
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<TD HEIGHT="8" COLSPAN="4"></TD></TR>
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<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">APPENDIX I JOINDER AGREEMENT</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">I</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">iii </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>SHARE PURCHASE AGREEMENT </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">THIS SHARE PURCHASE AGREEMENT (this &#147;<U>Agreement</U>&#148;), dated as of June&nbsp;7, 2017, is entered into by and between The9 Limited,
an exempted company with limited liability incorporated under the laws of the Cayman Islands (the &#147;<U>Company</U>&#148;), and Incsight Limited, a company incorporated under the laws of the British Virgin Islands (&#147;<U>Purchaser</U>&#148;;
together with the Company, the &#147;<U>Parties</U>&#148;, and each of them, a &#147;<U>Party</U>&#148;). </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>RECITALS </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, subject to the terms and conditions set forth in this Agreement, the Company desires to issue and sell, and Purchaser desires to
purchase, 12,500,000 ordinary shares, par value US$0.01 each in the capital of the Company (the &#147;<U>Shares</U>&#148;) for a total consideration of US$15&nbsp;million, or US$1.2 per Share, subject to the indemnification obligations described
herein. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">NOW THEREFORE, in consideration of the foregoing and the representations, warranties and agreements set forth herein, and for
good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and intending to be legally bound by this Agreement, the Parties agree as follows: </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>AGREEMENT </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE I
</B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>DEFINITIONS </U></B></P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;1.01&nbsp;&nbsp;&nbsp;&nbsp;<U>Definitions</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) As used in this Agreement, the following terms have the following meanings: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U><FONT STYLE="white-space:nowrap">6-K</FONT> Filing</U>&#148; has the meaning set forth in <U>Section</U><U></U><U>&nbsp;5.07</U>.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Action</U>&#148; means any charge, claim, action, complaint, petition, inquiry, investigation, appeal, suit, litigation,
grievance or other proceeding, whether administrative, civil, regulatory or criminal, whether at law or in equity, or otherwise under any applicable Law, and whether or not before any arbitrator or Governmental Authority. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Additional Registration Statements</U>&#148; has the meaning set forth in <U>Section</U><U></U><U>&nbsp;5.15(a)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>ADS</U>&#148; means an American depositary share of the Company, representing one (1)&nbsp;Share. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Affiliate</U>&#148; means, with respect to any Person, any Person that controls, is controlled by, or is under common control with
such Person. As used herein, the term &#147;<U>control</U>&#148; (including the terms &#147;<U>controlling</U>,&#148; &#147;<U>controlled by</U>&#148; and &#147;<U>under common control with</U>&#148;) means the possession, directly or indirectly,
and individually or together with any other Person, of the power to direct or to cause the direction of the management and policies of a Person, whether through ownership of voting securities or other interests, by contract or otherwise. </P>

<p Style='page-break-before:always'>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Ark Pacific Agreement</U>&#148; means the share purchase agreement which is expected to
be entered into by and between the Company and Ark Pacific Special Opportunities Fund I, L.P., an exempted limited partnership organized under the laws of the Cayman Islands (&#147;<U>Ark Pacific</U>&#148;), on or about the same date as this
Agreement, pursuant to which the Company will issue and sell 12,500,000 Shares to Ark Pacific for a consideration of US$1.2 per Share. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Board</U>&#148; means the board of directors of the Company. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Business Day</U>&#148; means any day that is not a Saturday, a Sunday, legal holiday or other day on which banks are required or
authorized by Law to be closed in the PRC, New York, the Cayman Islands or Hong Kong. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Closing</U>&#148; has the meaning set
forth in <U>Section</U><U></U><U>&nbsp;2.01(b)</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Closing Date</U>&#148; has the meaning set forth in
<U>Section</U><U></U><U>&nbsp;2.01(c)</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Code</U>&#148; means the United States Internal Revenue Code of 1986. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Commission Guidance</U>&#148; has the meaning set forth in <U>Section</U><U></U><U>&nbsp;5.15(a)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Company IP</U>&#148; has the meaning set forth in <U>Section</U><U></U><U>&nbsp;3.17(a)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Company Owned IP</U>&#148; means all Intellectual Property owned by the Group Companies. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Company Registered IP</U>&#148; means all Intellectual Property for which registrations are owned by or held in the name of, or for
which applications have been made in the name of, any Group Company. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Company&#146;s Incentive Plan</U>&#148; means the 2004
Stock Option Plan of the Company, as amended from time to time. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Consent</U>&#148; means any approval, consent, ratification,
permission, waiver or authorization (including any Required Permit). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Constitutional Documents</U>&#148; means, with respect to a
particular legal entity, the articles of incorporation, certificate of incorporation, formation or registration (including, if applicable, certificates of change of name), memorandum of association, articles of association, bylaws, articles of
organization, limited liability company agreement, trust deed, trust instrument, operating agreement, joint venture agreement, business license, or similar or other constitutive, governing, or charter documents, or equivalent documents, of such
entity. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Contract</U>&#148; means, as to any Person, a contract, agreement, indenture, note, bond, loan, instrument, lease,
mortgage, franchise, license, commitment, purchase order, and other legally binding arrangement, whether written or oral, including any and all amendments, modifications and supplements thereto. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">2 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Convertible Notes</U>&#148; means the Tranche A convertible notes, Tranche B convertible
notes and Tranche C convertible notes issued by the Company to Splendid Days Limited, a company with limited liability incorporated under the Laws of the British Virgin Islands (&#147;<U>Splendid Days</U>&#148;), on December&nbsp;11,&nbsp;2015,
pursuant to a convertible note and warrant purchase agreement dated November&nbsp;24, 2015 by and among the Company, the security providers listed in Schedule 1 thereto, and Splendid Days (the &#147;<U>Convertible Notes and Warrant Purchase
Agreement</U>&#148;). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Depositary</U>&#148; means The Bank of New York Mellon, the ADS depositary of the Company. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Early Redemption Date</U>&#148; has the meaning set forth in <U>Section</U><U></U><U>&nbsp;5.13(c)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Early Redemption Event</U>&#148; has the meaning set forth in <U>Section</U><U></U><U>&nbsp;5.13(b)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Early Redemption Notice</U>&#148; has the meaning set forth in <U>Section</U><U></U><U>&nbsp;5.13(a)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Early Redemption Price</U>&#148; has the meaning set forth in <U>Section</U><U></U><U>&nbsp;5.13(c)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Effective Period</U>&#148; has the meaning set forth in <U>Section</U><U></U><U>&nbsp;5.15(a)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Encumbrance</U>&#148; means any security interests, mortgages, liens, pledges, charges, reservations, restrictions, rights of way,
options, rights of first refusal, community property interests, equitable interests, conditional sale or other title retention agreements, any agreement to provide any of the foregoing and all other encumbrances, whether or not relating to the
extension of credit or the borrowing of money, whether imposed by contract, Law, equity or otherwise. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Equity
Securities</U>&#148; means, with respect to a Person, any and all shares of capital stock, membership interests, units, profits interests, ownership interests, equity interests, registered capital, and other equity securities of such Person, and any
right, warrant, option, call, commitment, conversion privilege, preemptive right or other right to acquire any of the foregoing, or security convertible into, exchangeable or exercisable for any of the foregoing, or any Contract providing for the
acquisition of any of the foregoing. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Exchange Act</U>&#148; means the Securities Exchange Act of 1934, as amended, and the rules
and regulations promulgated thereunder. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;External Indebtedness&#148; means any Indebtedness which is denominated or payable by its
terms, or at the option of the creditor in respect of such Indebtedness, in a currency other than the lawful currency of Hong Kong. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>FCPA</U>&#148; has the meaning set forth in <U>Section</U><U></U><U>&nbsp;3.18</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Filing Deadline</U>&#148; has the meaning set forth in <U>Section</U><U></U><U>&nbsp;5.15(a)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Financial Statements</U>&#148; has the meaning set forth in <U>Section</U><U></U><U>&nbsp;3.09(a)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>GAAP</U>&#148; means United States generally accepted accounting principles, as in effect from time to time, applied on a consistent
basis. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">3 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Governmental Authority</U>&#148; means any government of any nation, federation,
province or state or any other political subdivision thereof, any entity, authority or body exercising executive, legislative, judicial, regulatory or administrative functions of or pertaining to government, including any government authority,
agency, department, board, commission or instrumentality of any country, or any political subdivision thereof, any court, tribunal or arbitrator, and any self-regulatory organization. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Governmental Official</U>&#148; has the meaning set forth in <U>Section</U><U></U><U>&nbsp;3.18</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Governmental Order</U>&#148; means any order, ruling, decision, verdict, decree, writ, subpoena, mandate, command, directive,
consent, approval, award, judgment, injunction or other similar determination or finding by, before or under the supervision of any Governmental Authority. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Group</U>&#148; means, collectively, the Company and its Subsidiaries. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Group Company</U>&#148; means a member of the Group. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>HKIAC</U>&#148; has the meaning set forth in <U>Section</U><U></U><U>&nbsp;9.02(a)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>HKIAC Rules</U>&#148; has the meaning set forth in <U>Section</U><U></U><U>&nbsp;9.02(a)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Holder</U>&#148; means any Person who holds any of the Subject Shares or Registrable Securities or any assignee of record of such
Registrable Securities. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Hong Kong</U>&#148; means the Hong Kong Special Administrative Region of the PRC. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Indebtedness</U>&#148; of any Person means, without duplication (i)&nbsp;all indebtedness for borrowed money, (ii)&nbsp;all
reimbursement or payment obligations with respect to letters of credit, surety bonds and other similar instruments, (iii)&nbsp;all obligations evidenced by notes, bonds, debentures or similar instruments, including obligations so evidenced incurred
in connection with the acquisition of property, assets or businesses, (iv)&nbsp;all indebtedness created or arising under any conditional sale or other title retention agreement, or incurred as financing, in either case with respect to any property
or assets acquired with the proceeds of such indebtedness, (v)&nbsp;all obligations issued, undertaken or assumed as the deferred purchase price of property or services, including (without limitation) &#147;capital leases&#148; in accordance with
GAAP (other than trade payables entered into in the ordinary course of business), (vi) all monetary obligations under any leasing or similar arrangement, whether or not classified as a capital lease in accordance with generally accepted accounting
principles, (vii)&nbsp;all indebtedness referred to in clauses (i)&nbsp;through (vi) above of any other Person secured by any Encumbrance upon or in any property or assets owned by such Person, even though such Person has not assumed or become
liable for the payment of such indebtedness, and (viii)&nbsp;all contingent obligations in respect of indebtedness or obligations of others of the kinds referred to in clauses (i)&nbsp;through (vii) above. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Indemnifying Party</U>&#148; has the meaning set forth in <U>Section</U><U></U><U>&nbsp;7.05</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Information</U>&#148; has the meaning set forth in <U>Section</U><U></U><U>&nbsp;5.08</U>. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">4 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Intellectual Property</U>&#148; means any and all (i)&nbsp;patents and patent
applications and reissues, renewals, reexaminations, continuations, <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">continuations-in-part,</FONT></FONT> divisions, substitutions, supplementary protection certificates and patent
term extensions thereof, (ii)&nbsp;inventions (whether patentable or not), discoveries, improvements, concepts, innovations and industrial models, (iii)&nbsp;registered and unregistered copyrights, author&#146;s rights, data rights and works of
authorship (including artwork, software, computer programs, files, records and data, and related documentation), (iv) technical information, <FONT STYLE="white-space:nowrap">know-how,</FONT> trade secrets, drawings, designs, design protocols,
specifications, proprietary data, customer lists, databases, proprietary processes, technology, formulae, and algorithms and other intellectual property, and (v)&nbsp;trade names, trade dress, trademarks, domain names, service marks, logos, business
names, URLs, web sites, web pages and any part thereof, and registrations and applications therefor, the goodwill symbolized or represented by the foregoing. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Investment Amount</U>&#148; has the meaning set forth in <U>Section</U><U></U><U>&nbsp;2.01(a)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Knowledge</U>&#148; of a Person means the actual knowledge possessed by such Person. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Law</U>&#148; or &#147;<U>Laws</U>&#148; means any and all provisions of any applicable constitution, treaty, statute, law,
regulation, ordinance, code, rule, or rule of common law, any governmental approval, concession, grant, franchise, license, agreement, directive, requirement, or other governmental restriction or any similar form of decision of, or determination by,
or any interpretation or administration of any of the foregoing by, any Governmental Authority, in each case as amended, and any and all applicable Governmental Orders. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Lease Agreements</U>&#148; has the meaning set forth in <U>Section</U><U></U><U>&nbsp;3.15(b)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Leased Real Property</U>&#148; means all real property leased, subleased, licensed, or otherwise occupied by the Company or any
Subsidiary of the Company. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Liability</U>&#148; means any liability, Indebtedness, claim, loss, damage, deficiency, obligation or
responsibility, fixed or unfixed, liquidated or unliquidated, secured or unsecured, accrued, absolute or contingent. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Losses</U>&#148; means Liabilities, judgments, fines and expenses of any kind or nature whatsoever, including any investigative,
legal and other expenses and any amounts paid in settlement suffered or incurred by any Indemnified Party; <U>provided</U>, <U>however</U>, that &#147;<U>Losses</U>&#148; shall not include punitive damages, except in the case of fraud and actually
awarded to a Governmental Authority or other third party, and any incidental, consequential, special or indirect damages. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Major
Indebtedness Default</U>&#148; means, with respect to any Indebtedness or commitment of Indebtedness of any Group Company, having an aggregate amount of US$500,000 (or its equivalent in any other currency or currencies) or more (whether in respect
of any one Group Company or in the aggregate across multiple Group Companies, whether such Indebtedness now exists or will hereafter be created); (i) an event of default (however described) that has caused the relevant creditor thereof to declare,
or become entitled to declare, such Indebtedness to be due and payable prior to its stated maturity and/or (ii)&nbsp;a failure to pay principal of, or interest or premium on or any other amount under or in connection with (subject to the applicable
grace period in the relevant documents), such Indebtedness when the same becomes due; and/or any commitment for any such Indebtedness is cancelled or suspended by a creditor of any Group Company as a result of an event of default (however
described). </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">5 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Material Contracts</U>&#148; has the meaning set forth in
<U>Section</U><U></U><U>&nbsp;3.16(a)</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Material Adverse Effect</U>&#148; means any event, circumstance, change, development
or effect that, individually or in the aggregate, is or would reasonably be expected to be materially adverse to the business, assets, liabilities, operations or condition (financial or otherwise) of the Group Companies, taken as a whole;
<U>provided</U>, <U>however</U><I>,</I> that (i)&nbsp;no event, circumstance, change, development or effect relating to the economy or capital markets in general or affecting comparable companies operating in the same industry(but, in each case,
only to the extent such changes or developments do not, individually or in the aggregate, have a disproportionate impact on any Group Company relative to other comparable companies operating in the same industry), or (ii)&nbsp;any pandemic,
earthquake, typhoon, tornado or other natural disaster or similar force majeure event, shall be deemed, in and of themselves, to constitute a Material Adverse Effect. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Mr.</U><U></U><U>&nbsp;Zhu</U>&#148; means Mr.&nbsp;Jun Zhu, the chairman of the Board and chief executive officer of the Company.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>NASDAQ</U>&#148; means The NASDAQ Global Market. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>New Registration Statement</U>&#148; has the meaning set forth in <U>Section</U><U></U><U>&nbsp;5.15(a)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Onshore Companies</U>&#148; has the meaning set forth in <U>Section</U><U></U><U>&nbsp;3.07(b)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Operating Company</U>&#148; means Shanghai The9 Information Technology Co., Ltd. (


<IMG SRC="g421570001.jpg" ALT="LOGO">
), a limited liability company incorporated under the Laws of the PRC, with its registered address at Room 201, No.&nbsp;3 Building, No.&nbsp;690 Bibo Road, Pudong New District, Shanghai, the PRC. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Owned Real Property</U>&#148; means all real property and interests in real property (including real property in connection with land
use rights contracts or certificates and construction projects) owned by any Group Company (collectively, together with all buildings or other structures, improvements or fixtures thereon and all easements rights of way and other appurtenant rights
thereto). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Person</U>&#148; means an individual, corporation, partnership, limited partnership, limited liability company,
syndicate, person (including a &#147;person&#148; as defined in Section&nbsp;13(d)(3) of the Exchange Act), trust, association or entity or government, political subdivision, agency or instrumentality of a government. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>PRC</U>&#148; means the People&#146;s Republic of China excluding, for the purposes of this Agreement only, Hong Kong, the Macau
Special Administrative Region of the PRC and Taiwan. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U><FONT STYLE="white-space:nowrap">Pre-closing</FONT></U>&#148; has the
meaning set forth in <U>Section</U><U></U><U>&nbsp;2.01(b)</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U><FONT STYLE="white-space:nowrap">Pre-closing</FONT>
Date</U>&#148; has the meaning set forth in <U>Section</U><U></U><U>&nbsp;2.01(c)</U>. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">6 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Principal Subsidiaries</U>&#148; means (i)&nbsp;Gamenow.Net (Hong Kong) Limited,
(ii)&nbsp;China The9 Interactive Limited, (iii)&nbsp;China The9 Interactive (Shanghai) Limited, (iv)&nbsp;The9 Computer Technology Consulting (Shanghai) Co., Ltd., (v) Silver Express Investment Limited, and (vi)&nbsp;any other Subsidiary which at
any time on or after the date of this Agreement would be deemed a &#147;significant subsidiary&#148; (as such term is defined in Rule <FONT STYLE="white-space:nowrap">1-02(w)</FONT> of Regulation <FONT STYLE="white-space:nowrap">S-X</FONT> under the
Securities Act) of the Company.<B> </B> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Prospectus</U>&#148; shall mean: (i)&nbsp;the prospectus included in any Registration
Statement, as amended or supplemented by any prospectus supplement, with respect to the terms of the offering of any portion of the Registrable Securities covered by such Registration Statement and by all other amendments and supplements to the
prospectus, including post-effective amendments and all materials incorporated by reference in such prospectus, and (ii)&nbsp;any &#147;free writing prospectus&#148; as defined in Rule 405 of the Securities Act. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Purchaser Designated Person</U>&#148; has the meaning set forth in <U>Section</U><U></U><U>&nbsp;2.01(d)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Purchaser Indemnified Party</U>&#148; has the meaning set forth in <U>Section</U><U></U><U>&nbsp;7.02</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Redemption Date</U>&#148; has the meaning set forth in <U>Section</U><U></U><U>&nbsp;5.12(b)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Redemption Notice</U>&#148; has the meaning set forth in <U>Section</U><U></U><U>&nbsp;5.12(a)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Redemption Notice Period</U>&#148; has the meaning set forth in <U>Section</U><U></U><U>&nbsp;5.12(a)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Redemption Price</U>&#148; has the meaning set forth in <U>Section</U><U></U><U>&nbsp;5.12(b)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Redemption Right Triggering Event</U>&#148; has the meaning set forth in <U>Section</U><U></U><U>&nbsp;5.12(a)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Registrable Securities</U>&#148; shall mean: (i)&nbsp;any and all Subject Shares, (ii)&nbsp;any Shares issued as (or issuable upon
the conversion or exercise of any warrant, right or other security which is issued as) a dividend or other distribution with respect to the Subject Shares, and (iii)&nbsp;any ADSs issued in respect of any Subject Shares. Registrable Securities shall
cease to be Registrable Securities on the date as of which a Registration Statement covering resale of such Registrable Securities has been declared effective under the Securities Act by the SEC and such Registrable Securities have been disposed of
pursuant to such effective Registration Statement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Registration Statement</U>&#148; means any registration statement of the
Company filed under the Securities Act that covers the resale of any of the Registrable Securities pursuant to the provisions of this Agreement, amendments and supplements to such Registration Statement, including post-effective amendments, and all
exhibits and all materials incorporated by reference in such Registration Statement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Remaining Subject Shares</U>&#148; means
(i) 12,500,000 Shares, being the total number of Subject Shares, minus (ii)&nbsp;the number of Subject Shares that have been resold by Purchaser pursuant to <U>Section</U><U></U><U>&nbsp;5.11</U> as of a specified date. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Representatives</U>&#148; means a Person&#146;s officers, directors, employees, agents, attorneys, accountants, advisors and other
authorized representatives. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">7 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Required Permits</U>&#148; has the meaning set forth in
<U>Section</U><U></U><U>&nbsp;3.14</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Resale Notice</U>&#148; has the meaning set forth in
<U>Section</U><U></U><U>&nbsp;5.11(b)</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Rule 144 Documents</U>&#148; has the meaning set forth in
<U>Section</U><U></U><U>&nbsp;5.11(b)</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>SAFE</U>&#148; has the meaning set forth in <U>Section</U><U></U><U>&nbsp;3.14</U>.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>SEC</U>&#148; means the U.S. Securities and Exchange Commission. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>SEC Filings</U>&#148; has the meaning set forth in <U>Section</U><U></U><U>&nbsp;3.10</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Securities Act</U>&#148; means the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Shares</U>&#148; has the meaning set forth in the recital. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Smilegate Acquisition</U>&#148; has the meaning set forth in <U>Section</U><U></U><U>&nbsp;5.13(b)(iii)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Subject Share(s)</U>&#148; has the meaning set forth in <U>Section</U><U></U><U>&nbsp;2.01(a)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Subsidiary</U>&#148; means, with respect to any Person, (i)&nbsp;any corporation, limited liability company, partnership, joint
venture, trust or other legal entity of which such Person (either alone or through or together with any other Subsidiary), owns, directly or indirectly, more than fifty percent (50%) of the stock or other equity (or profits or capital) interests or
more than fifty percent (50%) of the ordinary voting power, the holders of which are generally entitled to vote for the election of the board of directors or other governing body of a <FONT STYLE="white-space:nowrap">non-corporate</FONT> Person, and
(ii)&nbsp;any entity whose assets, or portions thereof, has been or should be consolidated with the net earnings of the Person and should be recorded on the books of the Person for financial reporting purposes in accordance with GAAP including FIN
46R with respect to variable interest entities; for the avoidance of doubt, in the case of the Company, its Subsidiaries shall include the Operating Company and each Subsidiary of the Operating Company. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Tax</U>&#148; or &#147;<U>Taxes</U>&#148; means (i)&nbsp;in the PRC: (a)&nbsp;any national, provincial, municipal, or local taxes,
charges, fees, levies, or other assessments, including all net income (including enterprise income tax and individual income withholding tax), turnover (including value-added tax, business tax, and consumption tax), resource (including urban and
township land use tax), special purpose (including land value-added tax, urban maintenance and construction tax, and additional education fees), property (including urban real estate tax and land use fees), documentation (including stamp duty and
deed tax), filing, recording, social insurance (including pension, medical, unemployment, housing, and other social insurance withholding), tariffs (including import duty and import value-added tax), and estimated and provisional taxes, charges,
fees, levies, or other assessments, imposed in all cases by a Governmental Authority, (b)&nbsp;all interest, penalties (administrative, civil or criminal), or additional amounts imposed by any Governmental Authority in connection with any item
described in clause (a)&nbsp;above, and (c)&nbsp;any form of transferee liability imposed by any Governmental Authority in connection with any item described in clauses (a)&nbsp;and (b) above and (ii)&nbsp;in any jurisdiction other than the PRC: all
similar liabilities as described in clause (i)(a) and (i)(b) above. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">8 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Tax Returns</U>&#148; means any return, report or statement showing Taxes or used to pay
Taxes required to be filed with respect to any Tax (including any elections, declarations, schedules or attachments thereto, and any amendment thereof), including any information return, claim for refund, amended return or declaration of estimated
or provisional Tax. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Trading Day</U>&#148; means a day on which any trading market on which the ADSs are listed or quoted as open
for trading. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Remaining Investment Amount</U>&#148; refers to the portion of Investment Amount corresponding to the Remaining
Subject Shares as of a specified date. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>US$</U>&#148; or &#147;<U>USD</U>&#148; means U.S. dollars, the lawful currency of the
United States of America. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>VIE Agreements</U>&#148; means all of the Contracts described under the caption &#147;Arrangements
with Affiliated PRC Entities&#148; of Item 7 of the Company&#146;s most recently filed annual report on Form <FONT STYLE="white-space:nowrap">20-F.</FONT> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Violations</U>&#148; has the meaning set forth in <U>Section</U><U></U><U>&nbsp;7.08(a)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Warrants</U>&#148; means the Tranche A warrants, Tranche B warrants, Tranche C warrants and Tranche I warrants issued by the Company
to Splendid Days on December&nbsp;11,&nbsp;
2015, pursuant to the Convertible Notes and Warrant Purchase Agreement. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><A NAME="exctoc421570_3"></A>Section&nbsp;1.02&nbsp;&nbsp;&nbsp;
&nbsp;<U>Definitional and Interpretative Provisions</U>. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;When a reference is made in this Agreement to an
Article or Section, such reference is to an Article or Section of this Agreement unless otherwise specified. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;The words &#147;hereof&#148;, &#147;herein&#148;, &#147;hereby&#148; and &#147;hereunder&#148; and words of like
import used in this Agreement shall refer to this Agreement as a whole and not to any particular provision of this Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c)&nbsp;&nbsp;&nbsp;&nbsp;The headings and <FONT STYLE="white-space:nowrap">sub-headings</FONT> for this Agreement are for reference purposes
only and do not affect in any way the meaning or interpretation of this Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d)&nbsp;&nbsp;&nbsp;&nbsp;Any singular term in this
Agreement shall be deemed to include the plural, and any plural term the singular. Where a word or phrase is defined herein, each of its other grammatical forms shall have a corresponding meaning. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e)&nbsp;&nbsp;&nbsp;&nbsp;Whenever the words &#147;include&#148;, &#147;includes&#148; or &#147;including&#148; are used in this Agreement,
they are deemed to be followed by the words &#147;without limitation&#148;. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(f)&nbsp;&nbsp;&nbsp;&nbsp;The use of &#147;or&#148; is not
intended to be exclusive unless expressly indicated otherwise. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(g)&nbsp;&nbsp;&nbsp;&nbsp;References to a Person are also to its
permitted successors and assigns. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">9 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(h)&nbsp;&nbsp;&nbsp;&nbsp;A reference to any legislation or to any provision of any legislation
shall include any modification, amendment, <FONT STYLE="white-space:nowrap">re-enactment</FONT> thereof, any legislative provision substituted therefor and all rules, regulations and statutory instruments issued or related to such legislation. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(i)&nbsp;&nbsp;&nbsp;&nbsp;The Parties have each participated in the negotiation and drafting of this Agreement and if any ambiguity or
question of interpretation should arise, this Agreement shall be construed as if drafted jointly by the Parties and no presumption or burden of proof shall arise favoring or burdening either Party by virtue of the authorship of any of the provisions
in this Agreement or any interim drafts thereof. </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE II </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>DESCRIPTION OF THE TRANSACTION </U></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><A NAME="exctoc421570_5"></A>Section&nbsp;2.01&nbsp;&nbsp;&nbsp;&nbsp;<U><FONT STYLE="white-space:nowrap">Pre-Closing</FONT> and Closing;
Purchase and Sale of Subject Shares</U>. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;Upon the terms and subject to the conditions of this Agreement, the
Company shall issue and, and Purchaser shall purchase and subscribe for, 12,500,000 Shares (the &#147;<U>Subject Shares</U>&#148;, and each, a &#147;<U>Subject Share</U>&#148;), free and clear of all Encumbrances, for a total consideration of
US$15&nbsp;million (the &#147;<U>Investment Amount</U>&#148;), or US$1.2 per Share. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;The transactions
contemplated by this Agreement shall be consummated in two phases, consisting of (i)&nbsp;a <FONT STYLE="white-space:nowrap">pre-closing</FONT> (the &#147;<U><FONT STYLE="white-space:nowrap">Pre-closing</FONT></U>&#148;) at which, subject to
satisfaction or waiver of each of the conditions set forth in <U>Article VI</U> required by this Agreement to be satisfied at the <FONT STYLE="white-space:nowrap">Pre-closing,</FONT> the Company shall issue the Subject Shares to Purchaser and cause
the Purchaser or the Purchaser Designated Person (if so designated pursuant to <U>Section</U><U></U><U>&nbsp;2.01(d)</U>) to be entered into the register of members of the Company; and (ii)&nbsp;a closing (the &#147;<U>Closing</U>&#148;) at which,
subject to satisfaction or waiver of each of the conditions set forth in <U>Article VI</U> required by this Agreement to be satisfied at the Closing, Purchaser shall pay the Investment Amount to the Company. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c)&nbsp;&nbsp;&nbsp;&nbsp;The consummation of the transactions contemplated by this Agreement at
<FONT STYLE="white-space:nowrap">Pre-Closing</FONT> and Closing shall take place at the offices of Skadden, Arps, Slate, Meagher&nbsp;&amp; Flom, 42/F, Edinburgh Tower, 15 Queen&#146;s Road Central, Hong Kong. The
<FONT STYLE="white-space:nowrap">Pre-closing</FONT> shall take place at a time and on a date to be specified by the Parties, which shall be no later than the third Business Day after the date on which each of the conditions set forth in <U>Article
VI</U> required by this Agreement to be satisfied at <FONT STYLE="white-space:nowrap">Pre-closing</FONT> is satisfied or waived (other than those conditions that by their nature are to be satisfied at
<FONT STYLE="white-space:nowrap">Pre-closing,</FONT> but subject to the satisfaction or waiver thereof at the <FONT STYLE="white-space:nowrap">Pre-closing),</FONT> or at such other time, date and location as the Parties agree in writing. The date on
which <FONT STYLE="white-space:nowrap">Pre-closing</FONT> actually takes place is referred to in this Agreement as the &#147;<U><FONT STYLE="white-space:nowrap">Pre-closing</FONT> Date</U>&#148;. The Closing shall take place a time and on a date to
be specified by the Parties, which shall be no later than the third Business Day after the date on which each of the conditions set forth in <U>Article VI</U> required by this Agreement to be satisfied at Closing is satisfied or waived (other than
those conditions that by their nature are to be satisfied at the Closing, but subject to the satisfaction or waiver thereof at the Closing), or at such other time, date and location as the Parties agree in writing. The date on which Closing actually
takes place is referred to in this Agreement as the &#147;<U>Closing Date</U>&#148;. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">10 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d)&nbsp;&nbsp;&nbsp;&nbsp;If designated in writing by Purchaser to the Company at least three
(3)&nbsp;Business Days prior to the <FONT STYLE="white-space:nowrap">Pre-closing</FONT> Date, Purchaser may designate a direct or indirect wholly-owned Subsidiary of Purchaser (&#147;<U>Purchaser Designated Person</U>&#148;) to receive the Subject
Shares otherwise to be issued to Purchaser at the <FONT STYLE="white-space:nowrap">Pre-closing,</FONT> and such Purchaser Designated Person shall execute a joinder agreement substantially in the form attached hereto as Appendix V and have the same
rights and undertake the same obligations as the Purchaser hereunder; <U>provided</U>, <U>however</U>, that such designation shall not impact or relieve the obligations of Purchaser under this Agreement. The obligations of the Purchaser and any
Purchaser Designated Person shall be joint and several. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><A NAME="exctoc421570_6"></A>Section&nbsp;2.02&nbsp;&nbsp;&nbsp;&nbsp;<U><FONT
STYLE="white-space:nowrap">Pre-Closing</FONT> and Closing Deliveries and Conditions</U>. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;Company <FONT
STYLE="white-space:nowrap">Pre-closing</FONT> and Closing Deliveries. The Company shall deliver, or cause to be delivered, items (i)&nbsp;and (ii) set forth below under this <U>Section&nbsp;2.02(a)</U> to Purchaser at the <FONT
STYLE="white-space:nowrap">Pre-closing,</FONT> and items (iii)&nbsp;to (v) set forth below under this <U>Section&nbsp;2.02(a)</U> to Purchaser at the Closing: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(i)&nbsp;&nbsp;&nbsp;&nbsp;a certified copy of the register of members of the Company evidencing all of the Subject Shares,
which shall be denoted therein as unpaid if so required under the laws of the Cayman Islands, registered in the name of Purchaser;<SUP STYLE="font-size:85%; vertical-align:top"> </SUP> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(ii)&nbsp;&nbsp;&nbsp;&nbsp;a certificate of the secretary or a duly authorized director or officer of the Company, dated as of
the <FONT STYLE="white-space:nowrap">Pre-closing</FONT> Date, certifying (A)&nbsp;a copy of the resolutions of the Board authorizing the execution, delivery and performance of this Agreement, (B)&nbsp;the incumbency and signatures of the
Company&#146;s directors or officers (where applicable) executing this Agreement and the certificates to be delivered by the Company at the <FONT STYLE="white-space:nowrap">Pre-closing</FONT> in connection herewith, and (C)&nbsp;that all the
conditions set forth in <U>Section&nbsp;6.01</U> have been fulfilled (in the case of <U>Section&nbsp;6.01(i)</U>, only to the extent applicable to <FONT STYLE="white-space:nowrap">Pre-closing);</FONT> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(iii)&nbsp;&nbsp;&nbsp;&nbsp;a receipt for payment of the Investment Amount, to be delivered after the Company&#146;s receipt
of the Investment Amount at Closing; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(iv)&nbsp;&nbsp;&nbsp;&nbsp;a certified copy of the register of members of the
Company evidencing, and an original share certificate representing, all of the Subject Shares, fully paid and registered in the name of Purchaser; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(v)&nbsp;&nbsp;&nbsp;&nbsp;a certificate of the secretary or a duly authorized director or officer of the Company, dated as of
the Closing Date, certifying that all the conditions set forth in <U>Section&nbsp;6.01</U> have been fulfilled; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;<U>Purchaser <FONT STYLE="white-space:nowrap">Pre-closing</FONT> and Closing Deliveries</U>. Purchaser shall
deliver, or cause the delivery of, item (i)&nbsp;set forth below under this <U>Section&nbsp;2.02(b)</U> to the Company at the <FONT STYLE="white-space:nowrap">Pre-closing,</FONT> and item (ii)&nbsp;set forth below under this
<U>Section&nbsp;2.02(b)</U> to the Company at the Closing, </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">11 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(i)&nbsp;&nbsp;&nbsp;&nbsp;a certified copy of the resolutions of
Purchaser&#146;s board of directors and, if required, shareholders, authorizing the execution, delivery and performance of this Agreement; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(ii)&nbsp;&nbsp;&nbsp;&nbsp;if a Purchaser Designated Person has been designated by Purchaser pursuant to the terms of
<U>Section&nbsp;2.01(d)</U>, a certified copy of (A)&nbsp;a joinder agreement executed substantially in the form appearing in Appendix I, (B)&nbsp;its Constitutional Documents, and (C)&nbsp;the resolutions of Purchaser Designated Person authorizing
its execution, delivery and performance of the joinder agreement and the transactions contemplated under this Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c)&nbsp;&nbsp;&nbsp;&nbsp;<U>Closing Payment</U>. Subject to the receipt by the Purchaser of the item set forth in
<U>Section&nbsp;2.02(a)(v)</U> at Closing, the Purchaser shall pay the Investment Amount by wire transfer of immediately available funds to a bank account to be designated by the Company in writing within three (3)&nbsp;Business Days prior to
Closing. </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE III </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>REPRESENTATIONS AND WARRANTIES OF THE COMPANY </U></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Except as otherwise disclosed in any SEC Filings (excluding any disclosures set forth in the SEC Filings under the headings &#147;Risk
Factors&#148; and &#147;Forward-Looking Statements&#148; and any other disclosures in any other forward-looking or cautionary statements), the Company hereby represents and warrants to Purchaser that each of the representations and warranties
contained in this <U>Article III</U> is true, complete and not misleading as of the date of this Agreement and each of such representations and warranties shall be true, complete and not misleading on and as of the
<FONT STYLE="white-space:nowrap">Pre-closing</FONT> Date, with the same effect as if made on and as of the <FONT STYLE="white-space:nowrap">Pre-closing</FONT> Date (except for such representations and warranties that are made as of a specified date,
which shall be true, complete and not misleading as of such date): </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><A NAME="exctoc421570_8"></A>Section&nbsp;3.01&nbsp;&nbsp;&nbsp;&nbsp;<U>Organization, Good Standing and Qualification</U>. Each Group Company
is duly organized, incorporated or formed, validly existing and in good standing (with respect to the jurisdictions that recognize the concept of good standing) under the Laws of the jurisdiction of its organization, incorporation or formation. With
respect to the Subsidiaries of the Company that are variable interest entities as defined in FIN46R under GAAP and are consolidated by the Company for financial reporting purposes pursuant to the terms thereof, the Company possesses control over
such Subsidiaries through the VIE Agreements, true and complete copies of which have been included in the SEC Filings. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><A NAME="exctoc421570_9">
</A>Section&nbsp;3.02&nbsp;&nbsp;&nbsp;&nbsp;<U>Authorization; Enforceable Agreement</U>. All corporate action on the part of the Company, necessary for the authorization, execution, and delivery of this Agreement, the performance of the obligations
of the Company under this Agreement, and the authorization, issuance, sale, and delivery of the Subject Shares in accordance with the terms and conditions under this Agreement, and this Agreement, when executed and delivered, assuming due
authorization, execution and delivery by Purchaser, constitutes and will constitute valid and legally binding obligations of the Company, enforceable in accordance with its terms, except as may be limited by bankruptcy, insolvency, reorganization,
moratorium or other similar laws relating to or affecting the rights and remedies of creditors or by general equitable principles. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">12 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><A NAME="exctoc421570_10"></A>Section&nbsp;3.03&nbsp;&nbsp;&nbsp;&nbsp;<U>Governmental
Consents</U>. No consent, approval, order, or authorization of or registration, qualification, declaration, or filing with, any Governmental Authority on the part of the Company is required in connection with the offer, sale, or issuance of the
Subject Shares or the consummation of any other transaction contemplated by this Agreement, except for the following: (i)&nbsp;the filing of any required notifications under applicable securities Laws, which filings will have occurred within the
appropriate time periods; (ii)&nbsp;if requested, the filing with the SEC of the Registration Statements contemplated under this Agreement; (iii)&nbsp;any application or notification to NASDAQ that is required in connection with the issuance and
sale of the Subject Shares; (iv)&nbsp;any filings required by the Financial Industry Regulatory Authority; and (v)&nbsp;the filing with the SEC of such reports under the Exchange Act as required in connection with this Agreement and the transactions
contemplated by this Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><A NAME="exctoc421570_11"></A>Section&nbsp;3.04&nbsp;&nbsp;&nbsp;&nbsp;<U>Capitalization</U>. As of the
date hereof, the Company has (i) 57,283,929 Shares issued and outstanding, which include (A) 31,659,628 Shares issued to the Depositary to facilitate future issuance of ADSs upon exercise of options under the Company&#146;s Incentive Plan and (B)
1,708,800 Shares held by the Company in treasury. As of the date hereof, the Company has (w) 11,695,513 Shares issuable pursuant to the outstanding Convertible Notes (assuming full conversion, without giving effect to any restriction contained in
the Convertible Notes), (x) 4,778,846 Shares issuable pursuant to the outstanding Warrants (assuming full conversion, without giving effect to any restriction contained in the Warrants), (y) 18,135,200 Shares issuable pursuant to outstanding options
under the Company&#146;s Incentive Plan, and no other Shares issuable pursuant to any outstanding Equity Securities exercisable or exchangeable for, or convertible into, any capital shares of the Company other than those set forth in the foregoing
(w), (x) and (y). As of the date hereof, the Company has 14,649,543 Shares available for issuance under the Company&#146;s Incentive Plan. All of the issued and outstanding Shares are duly authorized, validly issued, fully paid and <FONT
STYLE="white-space:nowrap">non-assessable</FONT> and free of preemptive rights of any Persons and similar rights and were issued in compliance with all applicable securities Laws. Other than the Company&#146;s Incentive Plan, the Convertible Notes
and the Warrants and the Ark Pacific Agreement, there are no outstanding options, warrants, rights to subscribe to, calls or commitments of any character whatsoever relating to, or securities, rights or obligations convertible into or exchangeable
for, or giving any Person any right to subscribe for or acquire, any Equity Securities of the Company, or Contracts by which the Company or any Subsidiary is or may become bound to issue additional Equity Securities of the Company, or securities or
rights convertible or exchangeable into Equity Securities of the Company. None of the Company or its Subsidiaries is subject to any obligation (contingent or otherwise) to purchase or otherwise acquire or retire any of its outstanding Equity
Securities. Except as provided in this Agreement, no Person has the right to require the Company to register any Equity Securities of the Company with the SEC or any other Governmental Authority, whether on a demand or piggy-back basis or in
connection with the registration of securities of the Company for its own account or for the account of any other Person. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><A NAME="exctoc421570_12">
</A>Section&nbsp;3.05&nbsp;&nbsp;&nbsp;&nbsp;<U>Noncontravention</U>. The execution, delivery and performance by the Company of this Agreement, the consummation of the transactions contemplated hereby, and the issuance and sale of the Subject Shares
will not (i)&nbsp;conflict with or violate any provision of the Company&#146;s Constitutional Documents, (ii)&nbsp;conflict with or violate any applicable Law or any Governmental Order to which the Company is subject or (iii)&nbsp;conflict with,
result in any breach of or creation of an Encumbrance under, constitute a default (with or without notice or lapse of time, or both) under, require any notice or consent under, or give to others any rights of termination, acceleration or
cancellation of, any Contract to which the Company is a party or by which it is bound or to which any of its assets or properties are subject. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">13 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><A NAME="exctoc421570_13"></A>Section&nbsp;3.06&nbsp;&nbsp;&nbsp;&nbsp;<U>Valid Issuance</U>. The
Subject Shares, when issued, sold and delivered in accordance with the terms and for the consideration set forth in this Agreement, will be duly and validly issued, fully paid, and nonassessable and will be free of any Encumbrances or restrictions
on transfer other than any restrictions on transfer under this Agreement, the Constitutional Documents of the Company and under applicable securities Laws. The issuance and sale of the Subject Shares hereunder is not subject to any preemptive
rights, rights of first offer or any anti-dilution provisions contained in the Constitutional Documents of the Company or any other agreement, except for the anti-dilution provisions in the Convertible Notes and the Warrants. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><A NAME="exctoc421570_14"></A>Section&nbsp;3.07&nbsp;&nbsp;&nbsp;&nbsp;<U>Subsidiaries</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;All of the issued and outstanding shares of capital stock of each of the Company&#146;s Subsidiaries that is
registered or incorporated outside of the PRC are owned directly or indirectly by the Company, free and clear of all liens, and are duly authorized and validly issued, fully paid and <FONT STYLE="white-space:nowrap">non-assessable</FONT> and there
is no subscription, option, warrant, call right, agreement or commitment relating to the issuance, sale, delivery, voting, transfer or redemption by any such Subsidiaries (including any right of conversion or exchange under any outstanding security
or other instrument) of the capital stock of any such Subsidiaries (other than any such subscription, option, warrant, call right, agreement or commitment in favor of the Company or its Subsidiaries). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;For each of the Company&#146;s Subsidiaries that is registered or incorporated in the PRC (the &#147;<U>Onshore
Companies</U>&#148;), each holder of record of its registered capital have contributed in full its subscribed share of the entity&#146;s registered capital pursuant to the articles of association and, as applicable, relevant joint venture contracts,
and all such contributions have been verified and certified by a Chinese registered public accountant according to applicable Law, approved by and registered with all relevant Governmental Authorities and fully paid, and verification certificates
have been issued to each such holder of record or previous investor accordingly. All previous transfers or assignments of registered capital have been approved by and registered with the relevant Governmental Authorities and all necessary corporate
actions. Each Onshore Company successfully passed all of the applicable annual audits required by applicable Law. Without limiting the generality of the foregoing, all approvals, registrations and filings required under PRC Law for the due and
proper establishment and operation of each Onshore Company and for the conduct of the business of each such Onshore Company have been duly obtained by the Onshore Companies from the relevant PRC Governmental Authorities and are in full force and
effect, except to the extent the failure to obtain or complete any such approval, registration or filing would not, individually or in the aggregate, have a Material Adverse Effect. All required approvals of, and filings and registrations with, the
relevant Onshore Companies required in respect of each Onshore Company and other Subsidiaries (to the extent applicable) and their respective operations have been duly obtained or completed by the Company or the applicable Company Subsidiary in
accordance with the relevant PRC Laws, except to the extent the failure to obtain or complete any such approvals, filings or registration would not, individually or in the aggregate, have a Material Adverse Effect. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">14 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><A NAME="exctoc421570_15"></A>Section&nbsp;3.08&nbsp;&nbsp;&nbsp;&nbsp;<U>Disclosure</U>. All
information and materials provided or made available to Purchaser by or on behalf of the Company in connection with the negotiation or execution of this Agreement are true and correct in all material aspects as of the date hereof and do not contain
any untrue statement of a fact or omit to state any fact necessary in order to make the statements made therein, in the light of the circumstances under which they were made, not misleading in any material aspect. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><A NAME="exctoc421570_16"></A>Section&nbsp;3.09&nbsp;&nbsp;&nbsp;&nbsp;<U>Financial Statements</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;The financial statements of the Group on a consolidated basis for each of the periods included or incorporated by
reference in the SEC Filings, including the Company&#146;s audited financial statements prepared in respect of the fiscal year ended December&nbsp;31, 2016 filed with the SEC on Form <FONT STYLE="white-space:nowrap">20-F</FONT> on April&nbsp;7, 2017
(the &#147;<U>Financial Statements</U>&#148;), (A) fairly present the financial condition and the results of operations of the Group as of the dates and for the periods indicated in such SEC Filings in accordance with GAAP, (B)&nbsp;were prepared in
accordance with GAAP applied on a consistent basis throughout the periods covered thereby and (C)&nbsp;have been prepared from and are consistent with the books and records of each of the Group Companies in all material aspects. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;The Group does not have any liabilities or obligations (accrued, absolute, contingent or otherwise) that would be
required under GAAP to be reflected on a consolidated balance sheet of the Company, other than liabilities or obligations (i)&nbsp;reflected on, reserved against, or disclosed in the notes to, the Company&#146;s audited consolidated balance sheet
included in the Financial Statements for the fiscal year ended December&nbsp;31, 2016, (ii) that were incurred in the ordinary course of business since December&nbsp;31, 2016, or (iii)&nbsp;other undisclosed liabilities which would not, individually
or in the aggregate, have a Material Adverse Effect. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><A NAME="exctoc421570_17"></A>Section&nbsp;3.10&nbsp;&nbsp;&nbsp;&nbsp;<U>SEC
Filings</U>. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;The Company has filed, on a timely basis, all reports, schedules, forms, statements and other
documents required to be filed with or furnished to the SEC under the Securities Act or the Exchange Act (all of the foregoing filed during the <FONT STYLE="white-space:nowrap">thirty-six</FONT> (36)&nbsp;months prior to the date hereof
collectively, the &#147;<U>SEC Filings</U>&#148;). The Group is principally engaged in the business described in its most recent annual report, and such report contains a complete and accurate description of the business of the Group, taken as a
whole and in all material aspects. At the time of the filing thereof, each of the SEC Filings complied as to form with the applicable requirements of the Securities Act and the Exchange Act in all material aspects and did not contain any untrue
statement of a material fact or omit to state any material fact necessary in order to make the statements made therein, in the light of the circumstances under which they were made, not misleading. The Company is subject to the reporting
requirements of Sections 13(a) or 15(d) of the Exchange Act. As of the date hereof, there are no outstanding or unresolved comments received from the SEC with respect to any of the SEC Filings. The Company satisfies the registrant requirements for
the use of a registration statement on Form <FONT STYLE="white-space:nowrap">F-3</FONT> to register the Registrable Securities for resale by any Holder under the Securities Act. There exist no facts or circumstances (including any required approvals
or waivers or any circumstances that may delay or prevent the obtaining of accountant&#146;s consents) that could reasonably be expected to prohibit or delay the preparation and filing of the Registration Statement for the resale of the Registerable
Securities by any Holder contemplated by this Agreement. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">15 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;The Company has designed and maintains a system of internal controls
over financial reporting (as defined in Rule <FONT STYLE="white-space:nowrap">13a-15(f)</FONT> of the Exchange Act) sufficient to provide reasonable assurances regarding the reliability of financial reporting for the Company and its Subsidiaries.
The Company (i)&nbsp;has implemented and maintains disclosure controls and procedures (as defined in Rule <FONT STYLE="white-space:nowrap">13a-15(f)</FONT> of the Exchange Act)&nbsp;(A) designed to ensure that information required to be disclosed by
the Company in the reports that it files or submits under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the SEC&#146;s rules and forms and is accumulated and communicated to the Company&#146;s
management to allow timely decisions regarding required disclosure and (B)&nbsp;reasonably effective to perform the functions for which they were designed, and (ii)&nbsp;has disclosed, based on its most recent evaluation prior to the date of this
Agreement, to the Company&#146;s outside auditors and the Board&#146;s audit committee (and made summaries of such disclosures available to Purchaser)&nbsp;(A) any deficiencies and weaknesses in the design or operation of internal controls over
financial reporting that are reasonably likely to materially and adversely affect the Company&#146;s ability to record, process, summarize and report financial information, and (B)&nbsp;any fraud, whether or not material, that involves management or
other employees who have a significant role in the Company&#146;s internal controls over financial reporting. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><A NAME="exctoc421570_18"></A>Section&nbsp;3.11&nbsp;&nbsp;&nbsp;&nbsp;<U>Absence of Changes</U>. Since December&nbsp;31, 2016, except as
explicitly permitted by this Agreement, there has not been: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;any material adverse change in the consolidated
assets, liabilities, financial condition or operating results of the Group from that reflected in the Company&#146;s most recently filed annual report on Form <FONT STYLE="white-space:nowrap">20-F;</FONT> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;any declaration or payment of any dividend, or any authorization or payment of any distribution, on any of the
share capital of the Company, or any redemption or repurchase of any Equity Securities of the Company; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c)&nbsp;&nbsp;&nbsp;&nbsp;any
material damage, destruction or loss, whether or not covered by insurance, to any assets or properties of the Group Companies; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d)&nbsp;&nbsp;&nbsp;&nbsp;any waiver, not in the ordinary course of business consistent with past practice, by any Group Company of a
material right or of a material debt owed to it; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e)&nbsp;&nbsp;&nbsp;&nbsp;any satisfaction or discharge of any Encumbrance or payment
of any Liabilities by any Group Company, except in the ordinary course of business consistent with past practice or in an amount individually or among related Liabilities below US$1,000,000; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">16 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(f)&nbsp;&nbsp;&nbsp;&nbsp;any change or amendment to the Constitutional Documents of any Group
Company or material change to any material Contract or arrangement by which any Group Company is bound or to which any of their respective material assets or properties is subject; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(g)&nbsp;&nbsp;&nbsp;&nbsp;any material transaction entered into by any Group Company other than in the ordinary course of business consistent
with past practice; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(h)&nbsp;&nbsp;&nbsp;&nbsp;the loss of the services of any key employee, or material change in the composition or
duties of the executive officers of any Group Company; or </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(i)&nbsp;&nbsp;&nbsp;&nbsp;any other event or condition of any character that
has had or could reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><A NAME="exctoc421570_19"></A>Section&nbsp;3.12&nbsp;&nbsp;&nbsp;&nbsp;<U>Litigation</U>. There is no material Action pending or, to the
Knowledge of the Company, threatened against or affecting any Group Company or any of their respective material properties. To the Knowledge of the Company, none of the Group Companies, or any director or officer thereof in his or her capacity as
such director or officer or otherwise in connection with his or her role or activities with such Group Company, is or has been the subject of any Action involving a claim of violation of, or liability under, applicable securities Laws, or a claim of
breach of fiduciary duty. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><A NAME="exctoc421570_20"></A>Section&nbsp;3.13&nbsp;&nbsp;&nbsp;&nbsp;<U>Taxes</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;Each Group Company (i)&nbsp;has timely filed all material Tax Returns required to be filed by it; (ii)&nbsp;has
timely paid all Taxes required to be paid by it for which payment was due (whether or not shown on any Tax Returns) and; (iii)&nbsp;has established an adequate accrual or reserve for the payment of all material Taxes payable in respect of the
periods or portions thereof that are not yet due and payable. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;No deficiencies for any Tax have been claimed,
proposed, assessed or, to the Knowledge of the Company, threatened against any Group Company in writing. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c)&nbsp;&nbsp;&nbsp;&nbsp;None
of the Group Companies has received from any Governmental Authority (including any sales or use tax authority) any (i)&nbsp;written notice indicating an intent to open a tax audit, (ii)&nbsp;written request for information related to material Tax
matters, or (iii)&nbsp;written notice of deficiency of any amount of Tax proposed, asserted, or assessed by any Governmental Authority against any Group Company. No Tax Return of any Group Company is under audit by any Governmental Authority. No
claim has ever been made by a Governmental Authority in a jurisdiction where any Group Company does not file Tax Returns or pay any Taxes that any Group Company is required to file any such Tax Returns or pay any Taxes in that jurisdiction that has
not been resolved. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d)&nbsp;&nbsp;&nbsp;&nbsp;No Tax liens are currently in effect against any of the material assets of any Group
Company other than liens for Taxes not yet due and payable. There is not in effect any waiver by any Group Company of any statute of limitations with respect to any Taxes nor has any Group Company agreed to any extension of time for filing any
material Tax Return that has not been filed. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">17 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e)&nbsp;&nbsp;&nbsp;&nbsp;Each of the Group Companies has complied with all applicable Law
relating to the withholding of Taxes in all material aspects. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(f)&nbsp;&nbsp;&nbsp;&nbsp;None of the Group Companies has any Liability
for another person (other than a Group Company) as a result of being a member of a consolidated, combined, unitary or aggregate group of companies. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(g)&nbsp;&nbsp;&nbsp;&nbsp;Any material preferential Tax treatment enjoyed by any Group Company on or prior to the <FONT
STYLE="white-space:nowrap">Pre-closing</FONT> Date has been in compliance with all applicable Laws and will not be subject to any retroactive deduction or cancellation except as a result of retroactive effects of changes in the applicable Laws. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><A NAME="exctoc421570_21"></A>Section&nbsp;3.14&nbsp;&nbsp;&nbsp;&nbsp;<U>Compliance with Laws; Orders and Permits</U>. Each Group Company has
been and is in compliance in all material respects with all Laws and Governmental Orders to which such Group Company is subject or by which such Group Company&#146;s assets or properties are bound. Each Group Company owns, holds, possesses or
lawfully uses in the operation of its business all permits that are necessary for it to own or lease its properties and assets and conduct its business as currently conducted and as proposed to be conducted (the &#147;<U>Required Permits</U>&#148;),
and all the Required Permits are in full force and effect and no cancellation or suspension of any Required Permit is pending or, to the Knowledge of the Company, threatened, except to the extent the failure to own, hold, possess or use the Required
Permits would not, individually or in the aggregate, have a Material Adverse Effect. To the Knowledge of the Company, any record owner of any Equity Securities of the Company who is a PRC resident under the circulars of the State Administration of
Foreign Exchange of the PRC (&#147;<U>SAFE</U>&#148;) or is otherwise subject to the registration requirements of SAFE, has fully complied with such registration Requirements. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><A NAME="exctoc421570_22"></A>Section&nbsp;3.15&nbsp;&nbsp;&nbsp;&nbsp;<U>Real Property</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;The Company or one of its Subsidiaries, as the case may be, holds record, good, valid, legal and marketable title to
the Owned Real Property, free and clear of all material liens, and the land use rights relating to the Owned Real Property have been obtained from a competent Governmental Authority and all amounts (including, if applicable, land grant premiums)
required under applicable Law in connection with securing such title or land use rights have been paid in full. Each Group Company has duly complied in all material respects with all the terms and conditions of, and all of its obligations under, the
relevant land use rights contract or certificate or real property purchase contract in relation to any Owned Real Property owned by it. The Owned Real Property is and remains in conformity in all material respects with all applicable building codes
and standards, construction and building, fire prevention, safety, planning or zoning Law. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;Each of the Group
Companies has valid leasehold interests in all of their respective Leased Real Property, free and clear of all material liens, and each lease agreement of such Leased Real Property (collectively, the &#147;<U>Lease Agreements</U>&#148;) is valid,
binding and enforceable. None of the Group Companies is delinquent in respect of any rent, rates and other charges for which the tenant is responsible under the Lease Agreements and there exists no default or event of default (or event which with or
without notice or lapse of time or both would become a default) on the part of any Group Company, as applicable. Each of the Group Companies has observed and performed all restrictions and covenants on the part of the tenant and the conditions
contained in the Lease Agreements in all material respects. Each of the Group Companies enjoys peaceful and undisturbed possession of the Leased Real Property under all such Lease Agreements. There are no written or oral subleases, licenses or
agreements granting to any other Person the right of use or occupancy of any Leased Real Property. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">18 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><A NAME="exctoc421570_23"></A>Section&nbsp;3.16&nbsp;&nbsp;&nbsp;&nbsp;<U>Material Contracts</U>.
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;For purposes of this Agreement, &#147;<U>Material Contracts</U>&#148; means each outstanding Contract to which
any Group Company is a party or to which any Group Company or any of their properties or assets is subject, which (i)&nbsp;is or would be required to be filed by the Company as a &#147;material contract&#148; pursuant to Item 601(b)(4) or Item
601(b)(10) of Regulation <FONT STYLE="white-space:nowrap">S-K</FONT> under the Securities Act, (ii)&nbsp;is a VIE Agreement, or (iii)&nbsp;is expected to account for five percent (5%) or more of the Company&#146;s revenues in any of the fiscal years
ending December&nbsp;31, 2017, 2018 or 2019. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;All of the Material Contracts are valid, subsisting, in full
force and effect and binding upon and enforceable against the applicable Group Company and, to the Knowledge of the Company, the other parties thereto. Each Group Company has duly performed all its obligations in all material respects under each
Material Contract to the extent that such obligations to perform have accrued. No breach or default, alleged breach or default, or event which would (with or without notice, lapse of time or both) constitute a default under any of the Material
Contracts by any Group Company or, to the Knowledge of the Company, any other party or obligor with respect thereto, has occurred, or as a result of this Agreement, or the performance hereof, will occur. No Group Company has received or given any
notice regarding any such breach or default. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><A NAME="exctoc421570_24"></A>Section&nbsp;3.17&nbsp;&nbsp;&nbsp;&nbsp;<U>Intellectual
Property</U>. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;Each Group Company owns or otherwise has sufficient rights (including but not limited to the
applicable rights of development, maintenance, licensing and/or transfer) to all material Intellectual Property necessary and sufficient to conduct its business substantially as currently conducted by such Group Company (&#147;<U>Company
IP</U>&#148;). All Company Registered IP is owned by and registered or applied for solely in the name of a Group Company, is valid and subsisting and has not been abandoned, and all necessary registration, maintenance and renewal fees with respect
thereto and currently due have been satisfied in all material aspects. No Group Company, or any of its employees, officers or directors, has taken any actions or failed to take any actions that would cause any Company Owned IP to be invalid,
unenforceable or not subsisting. Other than created in the ordinary course of business consistent with past practice, the Company Owned IP is free and clear of any Encumbrance, license or other Contract granting rights therein to any other Person.
No Company Owned IP is subject to any proceeding or outstanding Governmental Order in the PRC or settlement agreement or stipulation that (i)&nbsp;restricts in any manner the use, transfer or licensing thereof, or the making, using, sale, or
offering for sale of any Group Company&#146;s products or services, by any Group Company or (ii)&nbsp;may affect the validity, use or enforceability of such Company Owned IP. Other than in the ordinary course of business consistent with past
practice, no Group Company has (i)&nbsp;transferred or assigned any Company IP to any Person; (ii)&nbsp;authorized any Person the joint ownership with respect to any Company IP; or (iii)&nbsp;permitted the rights of any Group Company in any Company
IP to lapse or enter the public domain. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">19 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;No Group Company has violated, infringed or misappropriated in any
material respect any Intellectual Property of any other Person, nor has any Group Company received any written notice alleging any of the foregoing. To the Knowledge of the Company, no Person has violated, infringed or misappropriated any Company IP
of any Group Company in any material aspect, and no Group Company has given any written notice to any other Person alleging any of the foregoing. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c)&nbsp;&nbsp;&nbsp;&nbsp;Each Group Company has taken reasonable and appropriate steps to protect, maintain and safeguard Company IP and
made all applicable filings, registrations and payments of fees in connection with the foregoing. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><A NAME="exctoc421570_25"></A>Section&nbsp;3.18&nbsp;&nbsp;&nbsp;&nbsp;<U>Anti-Corruption Compliance</U>. None of the Group Companies, their
respective directors, officers, and, to the Knowledge of the Company, agents, employees or other Persons that act for or on behalf of any Group Company, authorized or made, either directly or indirectly through any third party, any gift, offer,
promise, or payment of anything of value: (a)&nbsp;to any Governmental Official (as defined below) with the intent or purpose of (i)&nbsp;influencing any act or decision of such Governmental Official in his or her official capacity,
(ii)&nbsp;inducing such Governmental Official to do or omit to do any act in violation of the lawful duty of such Governmental Official, (iii)&nbsp;securing any improper advantage for any Group Company, or (iv)&nbsp;inducing such Governmental
Official to use his or her influence with a government or instrumentality thereof, political party or international organization to affect or influence any act or decision of such government or instrumentality, political party or international
organization, in order to assist any Group Company or in obtaining or retaining business for or with, or directing business to, any person, except to the extent that such conduct was expressly permitted by applicable Law; or (b)&nbsp;to any Person
in violation of any Law against commercial or official bribery or corruption, including, but not limited to, the U.S. Foreign Corrupt Practices Act of 1977 (&#147;<U>FCPA</U>&#148;). As used in this subsection, &#147;<U>Governmental
Official</U>&#148; means (a)&nbsp;any employee or official of any government, including any employee or official of any entity owned or controlled by a government, (b)&nbsp;any employee or official of a political party, (c)&nbsp;any candidate for
political office or his or her employee, or (d)&nbsp;any employee or official of a supranational organization. Each Group Company has implemented policies and procedures to prevent and detect violations of the FCPA and any other Law against
commercial or official bribery or corruption. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><A NAME="exctoc421570_26"></A>Section&nbsp;3.19&nbsp;&nbsp;&nbsp;&nbsp;<U>Listing and
Maintenance Requirements</U>. The ADSs are registered as a class of security pursuant to Section&nbsp;12(b) or 12(g) of the Exchange Act and listed on NASDAQ. The Company has taken no action which is designed to, or which is reasonably likely to,
have the effect of terminating the registration of such ADSs under the Exchange Act nor has the Company received any notification that the SEC is contemplating terminating such registration. There are no actions, suits, proceedings or investigations
pending or, to the Knowledge of the Company, threatened against the Company relating to the continued listing of the ADSs on NASDAQ, and the Company has not received any notice of, nor to the Company&#146;s Knowledge is there any basis for, the
delisting of the ADSs from NASDAQ. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">20 </P>


<p Style='page-break-before:always'>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><A NAME="exctoc421570_27"></A>Section&nbsp;3.20&nbsp;&nbsp;&nbsp;&nbsp;<U>Offering;
Exemption</U>. Assuming the accuracy of Purchaser&#146;s representations and warranties set forth in <U>Article IV</U>, no registration under the Securities Act or any applicable state securities Law is required for the issuance of the Subject
Shares by the Company to Purchaser as contemplated hereby. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><A NAME="exctoc421570_28"></A>Section&nbsp;3.21&nbsp;&nbsp;&nbsp;&nbsp;<U>No
Integrated Offering</U>. Neither the Company, nor any Affiliate of the Company, nor any person acting on its behalf or their behalf has, directly or indirectly, made any offers or sales of any security or solicited any offers to buy any security,
under circumstances that would cause the offering or issuance of the Subject Shares to be integrated with prior offerings by the Company for purposes of the Securities Act in a manner that would require registration of such offer and sale under the
Securities Act, or would cause any applicable state securities Law exemptions or any applicable stockholder approval provisions exemptions, including under the rules and regulations of any national securities exchange or automated quotation system
on which any of the securities of the Company are listed or designated to be unavailable, nor will the Company take any action or steps that would cause the offering or issuance of the Subject Shares to be integrated with other offerings. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><A NAME="exctoc421570_29"></A>Section&nbsp;3.22&nbsp;&nbsp;&nbsp;&nbsp;<U>Related Party Transactions</U>. In the past two financial years
preceding the date of this Agreement, none of the Affiliates, officers or directors of any Group Company is presently a party to any transaction with any Group Company (other than as holders of share options and for services as employees, officers
and directors), including any Contract or other arrangement providing for the furnishing of services to or by, providing for rental of real or personal property to or from, or otherwise requiring payments to or from any Affiliate, officer or
director. None of the Affiliates, officers or directors of the Company directly or indirectly competes with, or has any interest in any Person that, directly or indirectly, competes with, any Group Company. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><A NAME="exctoc421570_30"></A>Section&nbsp;3.23&nbsp;&nbsp;&nbsp;&nbsp;<U>Indebtedness</U>. None of the Group Companies is, immediately prior
to this Agreement, or will be, at the time of the <FONT STYLE="white-space:nowrap">Pre-closing</FONT> after giving effect to the <FONT STYLE="white-space:nowrap">Pre-closing,</FONT> in default in the payment of any Indebtedness with an outstanding
principal amount of more than US$500,000. </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE IV </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>REPRESENTATIONS AND WARRANTIES OF PURCHASER</U> </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Purchaser hereby represents and warrants to the Company that each of the representations and warranties contained in this <U>Article IV</U> is
true, complete and not misleading as of the date of this Agreement and each of such representations and warranties shall be true, complete and not misleading on and as of the <FONT STYLE="white-space:nowrap">Pre-closing</FONT> Date, with the same
effect as if made on and as of the <FONT STYLE="white-space:nowrap">Pre-closing</FONT> Date (except for such representations and warranties that are made as of a specified date, which shall be true, complete and not misleading as of such date): </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><A NAME="exctoc421570_32"></A>Section&nbsp;4.01&nbsp;&nbsp;&nbsp;&nbsp;<U>Organization and Good Standing</U>. Purchaser is a company duly
incorporated and organized (as applicable), and is validly existing and in good standing (as applicable) under the Laws of its place of incorporation and in accordance with its Constitutional Documents (as the case may be). Purchaser is in
compliance with all registrations and approval requirements of its place of incorporation. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">21 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><A NAME="exctoc421570_33"></A>Section&nbsp;4.02&nbsp;&nbsp;&nbsp;&nbsp;<U>Authorization;
Enforceable Agreement</U>. Purchaser has full right, power, authority and capacity to enter into this Agreement, to perform its obligations hereunder, and to consummate the transactions contemplated hereunder. The execution, delivery and performance
of this Agreement have been duly authorized by all necessary action on the part of Purchaser, and this Agreement has been duly executed and delivered by Purchaser and, assuming due authorization, execution and delivery of this Agreement by the
Company, will constitute valid and binding obligation of Purchaser, enforceable against Purchaser in accordance with its terms. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><A NAME="exctoc421570_34">
</A>Section&nbsp;4.03&nbsp;&nbsp;&nbsp;&nbsp;<U>Governmental Consents</U>. All consents, approvals, orders or authorizations of, or registrations, qualifications, designations, declarations or filings with, any Governmental Authority or any other
competent corporate authority required in connection with the execution, delivery and performance by Purchaser of this Agreement and the consummation of the transactions contemplated hereby have been obtained. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><A NAME="exctoc421570_35"></A>Section&nbsp;4.04&nbsp;&nbsp;&nbsp;&nbsp;<U>Purchaser Status</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;Purchaser is (i)&nbsp;not a &#147;U.S. person&#148; and is located outside the United States, as such terms are
defined in Rule 902 of Regulation S under the Securities Act; (ii)&nbsp;aware that the sale of the Subject Shares is being made in reliance on Rule 903 promulgated under the Securities Act; and (iii)&nbsp;acquiring the Shares for its own account and
not with a view to, or the intention of, or for sale in connection with, any distribution thereof in violation of applicable securities Laws. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;Purchaser understands and agrees that the Shares are being offered in a transaction not involving any public
offering within the meaning of the Securities Act, that such Shares have not been and, except as contemplated by <U>Section&nbsp;5.15</U>, will not be registered under the Securities Act and that such Shares may be offered, resold, pledged or
otherwise transferred only (i)&nbsp;in a transaction not involving a public offering, (ii)&nbsp;pursuant to an exemption from registration under the Securities Act provided by Rule 144 thereunder (if available), (iii) pursuant to an exemption from
registration under the Securities Act provided by Rule 904 thereunder (if available), (iv) pursuant to an effective registration statement under the Securities Act or (v)&nbsp;to the Company or one of its Subsidiaries, in each of cases
(i)&nbsp;through (v) in accordance with any applicable state and federal securities Laws, and that it will notify any subsequent purchaser of Shares from it of the resale restrictions referred to above, as applicable. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c)&nbsp;&nbsp;&nbsp;&nbsp;Purchaser understands that, unless sold pursuant to a registration statement that has been declared effective under
the Securities Act or in compliance with Rule 144 thereunder, in addition to any other legend that may be required, each certificate for the Subject Shares issued to Purchaser shall bear a legend in substantially the following form (it being agreed
that if the Subject Shares are not certificated, other appropriate restrictions shall be implemented to give effect to the following): </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">22 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">&#147;THE SALE, TRANSFER, ASSIGNMENT, PLEDGE OR ENCUMBRANCE OR ANY OTHER ALIENATION OF THE SHARES
REPRESENTED BY THIS CERTIFICATE AND THE RIGHTS OF THE HOLDERS OF SUCH SHARES ARE SUBJECT TO THE TERMS AND CONDITIONS OF A SHARE PURCHASE AGREEMENT DATED JUNE&nbsp;7, 2017, AS AMENDED FROM TIME TO TIME. A COPY OF SUCH AGREEMENT MAY BE OBTAINED AT NO
COST BY WRITTEN REQUEST MADE BY THE REGISTERED HOLDER OF THIS CERTIFICATE TO THE COMPANY.&#148; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">&#147;THE SHARES REPRESENTED BY THIS
CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE &#147;SECURITIES ACT&#148;), OR UNDER THE SECURITIES LAWS OF ANY OTHER JURISDICTION. THE SECURITIES MAY NOT BE OFFERED FOR SALE, SOLD, TRANSFERRED OR ASSIGNED:
(I)&nbsp;IN THE ABSENCE OF (A)&nbsp;AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES UNDER THE SECURITIES ACT AND OTHER APPLICABLE SECURITIES LAWS, OR (B)&nbsp;AN OPINION OF COUNSEL, IN FORM REASONABLY ACCEPTABLE TO THE COMPANY, THAT
REGISTRATION IS NOT REQUIRED UNDER THE SECURITIES ACT AND ANY OTHER APPLICABLE SECURITIES LAWS; OR (II)&nbsp;UNLESS THE SECURITIES HAVE BEEN SOLD PURSUANT TO RULE 144 OR ANOTHER AVAILABLE EXEMPTION UNDER THE SECURITIES ACT.&#148; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d)&nbsp;&nbsp;&nbsp;&nbsp;Purchaser understands that the Company will rely upon the truth and accuracy of the foregoing representations,
acknowledgements and agreements.&nbsp;&nbsp;&nbsp;&nbsp; </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE V </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>COVENANTS AND ADDITIONAL AGREEMENTS OF THE PARTIES </U></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><A NAME="exctoc421570_37"></A>Section&nbsp;5.01&nbsp;&nbsp;&nbsp;&nbsp;<U><FONT STYLE="white-space:nowrap">Lock-up</FONT></U>. Purchaser
hereby agrees that, without the prior written consent of the Company, it will not, during the period commencing on the <FONT STYLE="white-space:nowrap">Pre-Closing</FONT> Date until the Closing Date, (i)&nbsp;offer, pledge, sell, contract to sell,
sell any option or contract to purchase, purchase any option or contract to sell, grant any option, right or warrant to purchase, lend, or otherwise transfer or dispose of, directly or indirectly, any of the Subject Shares or any other securities so
owned convertible into or exercisable or exchangeable for any of the Subject Shares, or (ii)&nbsp;enter into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of any of the
Subject Shares. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><A NAME="exctoc421570_38"></A>Section&nbsp;5.02&nbsp;&nbsp;&nbsp;&nbsp;<U>Commercially Reasonable Efforts</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;For the purposes of <FONT STYLE="white-space:nowrap">Pre-closing,</FONT> (i)&nbsp;the Company shall use commercially
reasonable efforts to cause the conditions set forth in <U>Section&nbsp;6.01</U> that are to be satisfied, but subject to any waiver thereof, at <FONT STYLE="white-space:nowrap">Pre-closing</FONT> to be satisfied on a timely basis and, consistent
with using such commercially reasonable efforts, if reasonably practicable, cause such conditions to be satisfied on or before June&nbsp;8, 2017, and (ii)&nbsp;Purchaser shall use commercially reasonable efforts to cause the conditions set forth in
<U>Section&nbsp;6.02</U> that are to be satisfied, but subject to any waiver thereof, at <FONT STYLE="white-space:nowrap">Pre-closing</FONT> to be satisfied on a timely basis and, consistent with using such commercially reasonable efforts, if
reasonably practicable, cause such conditions to be satisfied on or before June&nbsp;8, 2017. For the purposes of Closing, (i)&nbsp;the Company shall use commercially reasonable efforts to cause the conditions set forth in <U>Section&nbsp;6.01</U>
that are to be satisfied, but subject to any waiver thereof, at Closing to be satisfied on a timely basis and, consistent with using such commercially reasonable efforts, if reasonably practicable, cause such conditions to be satisfied on or before
the date which falls three (3)&nbsp;months after the <FONT STYLE="white-space:nowrap">Pre-closing</FONT> Date, and (ii)&nbsp;Purchaser shall use commercially reasonable efforts to cause the conditions set forth in <U>Section&nbsp;6.02</U> that are
to be satisfied, but subject to any waiver thereof, at Closing to be satisfied on a timely basis and, consistent with using such commercially reasonable efforts, if reasonably practicable, cause such conditions to be satisfied on or before the date
which falls three (3)&nbsp;months after the <FONT STYLE="white-space:nowrap">Pre-closing</FONT> Date. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">23 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;As promptly as practicable after the execution of this Agreement, each
Party to this Agreement (i)&nbsp;shall make all filings and give all notices reasonably required to be made and given by such Party in connection with the transactions contemplated by this Agreement and (ii)&nbsp;shall use all commercially
reasonable efforts to obtain all Consents required to be obtained (pursuant to any applicable Law or Contract, or otherwise) by such Party in connection with the transactions contemplated by this Agreement. Each Party shall, upon request of another
Party and to the extent permitted by applicable Law or applicable Contracts, promptly deliver to such other party a copy of each such filing made, each such notice given and each such Consent obtained by it. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c)&nbsp;&nbsp;&nbsp;&nbsp;The Parties understand and agree that the commercially reasonable efforts of any party hereto shall not be deemed
to include (i)&nbsp;entering into any settlement, undertaking, consent decree, stipulation or agreement with any Governmental Authority in connection with the transactions contemplated hereby or (ii)&nbsp;divesting or otherwise holding separate
(including by establishing a trust or otherwise), or taking any other action (or otherwise agreeing to do any of the foregoing), with respect to any of its or its Subsidiaries&#146; or any of their respective Affiliates&#146; businesses, assets or
properties. Notwithstanding anything herein to the contrary, Purchaser shall not be required to contest or defend any objections or oppositions raised by any Governmental Authority relating to the matters contemplated by this
<U>Section&nbsp;5.02</U>, although it may, at its sole discretion, elect to do so. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><A NAME="exctoc421570_39"></A>Section&nbsp;5.03&nbsp;&nbsp;&nbsp;&nbsp;<U>Use of Proceeds</U>. Subject to the provisions of this Agreement,
any net proceeds received by the Company pursuant to the transactions contemplated hereby shall be used by the Company as the working capital of the Group. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><A NAME="exctoc421570_40"></A>Section&nbsp;5.04&nbsp;&nbsp;&nbsp;&nbsp;<U>Access to Information</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;Prior to the <FONT STYLE="white-space:nowrap">Pre-closing</FONT> Date, the Company shall, and shall cause its
Subsidiaries to, upon the Company&#146;s receipt of reasonable prior notice, provide to Purchaser financial or other information (including <FONT STYLE="white-space:nowrap">non-public</FONT> information) regarding the business and operation of any
Group Company, including any information or statements as may be reasonably necessary for Purchaser (or any of its direct or indirect owners) to file any Tax Return or other filings required by Law. Prior to the
<FONT STYLE="white-space:nowrap">Pre-closing</FONT> Date, at such times as may be agreed in advance with the Company, representatives of Purchaser may, during normal office hours, (i)&nbsp;visit and inspect any of the sites and premises where the
business of any Group Company is conducted and (ii)&nbsp;have reasonable access to those officers, employees, agents, accountants, auditors, contractors and subcontractors of any Group Company who have or may have Knowledge of matters with respect
to which Purchaser reasonably seeks information, <U>provided</U> that any such access shall be accompanied by a personnel designated by the Company if the Company so requests. Purchaser hereby acknowledges its obligations of confidentiality under
<U>Section&nbsp;5.08</U> hereof. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">24 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;Upon Purchaser&#146;s reasonable request, the Company shall reasonably
cooperate with Purchaser, and provide Purchaser with all information reasonably available to any Group Company, to permit Purchaser to (i)&nbsp;determine whether any Group Company is or has been a &#147;passive foreign investment company&#148; for
United States federal income tax purposes and to determine the consequences to Purchaser of such status; and (ii)&nbsp;make or cause to be made and maintain any and all United States federal income tax elections that may be advisable in
Purchaser&#146;s reasonable discretion, to the extent related to the investment in the Company pursuant to this Agreement, including without limitation a &#147;qualified electing fund&#148; election under Section&nbsp;1295 of the Code. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><A NAME="exctoc421570_41"></A>Section&nbsp;5.05&nbsp;&nbsp;&nbsp;&nbsp;<U>Rule 144 Reporting</U>. The Company shall, in order to enable
Purchaser to sell the Subject Shares under Rule&nbsp;144 of the Securities Act and for so long as Purchaser holds any Subject Share, use its commercially reasonable efforts to (a)&nbsp;comply with the requirements of Rule&nbsp;144, including without
limitation, the requirements of Rule&nbsp;144(c)(1)&nbsp;with respect to public information about the Company and to its timely filing of all reports required to be filed under the Exchange Act, and (b)&nbsp;furnish to Purchaser upon request
(i)&nbsp;a written statement by the Company that it has complied with the reporting requirements of the Exchange Act and (ii)&nbsp;a copy of the most recent public periodic report of the Company and such other reports and documents of the Company as
Purchaser may reasonably request in availing itself of any rule or regulation of the SEC allowing Purchaser to sell any such Shares without registration. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><A NAME="exctoc421570_42"></A>Section&nbsp;5.06&nbsp;&nbsp;&nbsp;&nbsp;<U>Further Assurances</U>. Each of the Parties shall cooperate and
consult with each other and use commercially reasonable efforts to prepare and file all necessary documentation, to effect all necessary applications, notices, petitions, filings and other documents, and to obtain all necessary permits, consents,
orders, approvals and authorizations of, or any exemption by, all third Persons required to consummate the transactions contemplated by this Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><A NAME="exctoc421570_43"></A>Section&nbsp;5.07&nbsp;&nbsp;&nbsp;&nbsp;<U>Public Disclosure</U>. Subject to
<U>Section</U><U></U><U>&nbsp;5.08</U>, at or before 8:30 a.m., New York time, on the first Business Day following the date of this Agreement, the Company shall issue a press release and as soon as possible thereafter file a current report on Form <FONT
STYLE="white-space:nowrap">6-K</FONT> in the form required by the Exchange Act (the &#147;<U><FONT STYLE="white-space:nowrap">6-K</FONT> Filing</U>&#148;), each describing the terms of the transactions contemplated by this Agreement, <U>provided</U>
that Purchaser shall be consulted by the Company in connection with any such press release or other public disclosure prior to its release. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><A NAME="exctoc421570_44"></A>Section&nbsp;5.08&nbsp;&nbsp;&nbsp;&nbsp;<U>Confidentiality</U>. Each Party shall, and shall cause its
Representatives, Affiliates and such Affiliates&#146; respective Representatives to hold, in strict confidence, unless disclosure to a regulatory authority is necessary or appropriate in connection with any necessary regulatory approval or unless
disclosure is required by judicial or administrative process or by other requirement of Law or the applicable requirements of any regulatory agency or relevant stock exchange, all <FONT STYLE="white-space:nowrap">non-public</FONT> records, books,
contracts, instruments, computer data and other data and information (collectively, &#147;<U>Information</U>&#148;) concerning the other Party furnished to it by such other Party or its Representatives pursuant to this Agreement (except to the
extent that such information can be shown to have been (a)&nbsp;previously known by such Party on a <FONT STYLE="white-space:nowrap">non-confidential</FONT> basis, (b)&nbsp;in the public domain through no fault of such Party or (c)&nbsp;later
lawfully acquired from other sources on a <FONT STYLE="white-space:nowrap">non-confidential</FONT> basis by the Party to which it was furnished), and no Party shall release or disclose such Information to any other person, except to its
Representatives, Affiliates or such Affiliates&#146; respective Representatives. Without limiting the generality of the foregoing, the following shall not constitute a breach of the confidentiality obligation under this
<U>Section</U><U></U><U>&nbsp;5.08</U> by Purchaser: (i)&nbsp;the issue of the press release and the <FONT STYLE="white-space:nowrap">6-K</FONT> Filing pursuant to <U>Section</U><U></U><U>&nbsp;5.07</U> and (ii)&nbsp;the filing of, and the
disclosure of the material terms of, this Agreement in the reports, schedules, forms, statements and other documents required to be filed with or furnished to the SEC under the Securities Act or the Exchange Act, <U>provided</U> that the Company
shall consult Purchaser in connection with any such public disclosure prior to its release. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">25 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;5.09&nbsp;&nbsp;&nbsp;&nbsp;<U>Conduct of Business Prior to Closing</U>. From the
date hereof until the Closing, the Company shall, and shall cause each of its Subsidiaries to, (a)&nbsp;maintain its corporate existence, excluding creations of and mergers among Subsidiaries of the Company or the termination of existence of a
Subsidiary which would not reasonably be expected to be material to the Company or any of its Subsidiaries; (b)&nbsp;maintain its material assets in good working order and condition, ordinary wear and tear excepted; and (c)&nbsp;maintain with
financially sound and reputable insurance companies, insurance on all of its insurable assets in at least such amounts and against at least such risks as are usually insured against in the same general area by companies of established repute engaged
in the same or a similar business in the markets where the Company conducts its business. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><A NAME="exctoc421570_46"></A>Section&nbsp;5.10&nbsp;&nbsp;&nbsp;&nbsp;<U>Notices of Developments</U>. The Company shall promptly notify
Purchaser of the occurrence of any transaction or event or series of transactions or events if prior to the Closing as a consequence to which (a)&nbsp;any representation or warranty made by the Company in this Agreement was, when made, or has
subsequently become, untrue or inaccurate in any material respect, or (b)&nbsp;the Company shall fail to comply with or satisfy any covenant, condition or agreement to be complied with or satisfied by the Company pursuant to this Agreement or
(c)&nbsp;the consummation of the transactions contemplated by this Agreement will be, or would reasonably be expected to be, prevented or materially delayed. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><A NAME="exctoc421570_47"></A>Section&nbsp;5.11&nbsp;&nbsp;&nbsp;&nbsp;<U>Resale of Subject Shares</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;At any time after Closing and until the second anniversary of the Closing Date, Purchaser may resell all or a
portion of the Subject Shares represented by ADSs in the open market, <U>provided</U> that: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(i)&nbsp;&nbsp;&nbsp;&nbsp;any
resale shall be made at a sales price (excluding any tax, brokerage fees, ADS issuance fees and other fees and expenses payable in connection with such sale) higher than US$1.44 per ADS; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(ii)&nbsp;&nbsp;&nbsp;&nbsp;any resale of the Subject Shares by Purchaser shall comply with applicable securities Laws. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">26 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;Purchaser shall provide the Company with a notice in writing (the
&#147;<U>Resale Notice</U>&#148;), setting forth (i)&nbsp;the intended date of the resale; (ii)&nbsp;the number of Subject Shares intended to be resold, and (iii)&nbsp;the expected sales price per ADS. If a resale is to be made in reliance on Rule
144 under the Securities Act, Purchaser shall provide to the Company (A)&nbsp;the original certificate or certificates representing the number of Subject Shares intended to be resold, (B)&nbsp;the originally executed representation letters,
(C)&nbsp;the completed Form 144 as filed with the SEC, if applicable, and (D)&nbsp;any other documents reasonably requested by the Company and the Depositary (all of the foregoing documentations from (A)&nbsp;to (D), the &#147;<U>Rule 144
Documents</U>&#148;). Upon receipt by the Company of the Rule 144 Documents, subject to the applicable securities Laws, the Company shall cause the Depositary to deliver ADSs to Purchaser as soon as commercially practicable and in any event no later
than seven (7)&nbsp;Business Days. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c)&nbsp;&nbsp;&nbsp;&nbsp;Within three (3)&nbsp;Business Days after completion of each resale,
Purchaser shall provide the Company with documents evidencing the number of Subject Shares actually sold and the actual price or prices at which such Shares were sold. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><A NAME="exctoc421570_48"></A>Section&nbsp;5.12&nbsp;&nbsp;&nbsp;&nbsp;<U>Redemption Right</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;If, at any time during the period commencing on the first anniversary of the Closing Date and ending on the second
anniversary of the Closing Date, the rolling volume weighted average price of the ADS as quoted on the NASDAQ for any given thirty (30)&nbsp;consecutive Trading Day period is below US$4.0 per ADS (the &#147;<U>Redemption Right Triggering
Event</U>&#148;), Purchaser may, at any time before the end of a period of fifteen (15)&nbsp;Business Days after the second anniversary of the Closing (&#147;<U>Redemption Notice Period</U>&#148;), elect, in its sole discretion, by giving a written
notice to the Company (the &#147;<U>Redemption Notice</U>&#148;), to require the Company to redeem all (but not less than all) of the Remaining Subject Shares held by Purchaser as of the date of the Redemption Notice. Such Redemption Notice shall be
delivered to the Company&#146;s registered office address and business address at Building No.&nbsp;3, 690 Bibo Road, Zhang Jiang <FONT STYLE="white-space:nowrap">Hi-Tech</FONT> Park, Pudong New Area, Pudong, Shanghai 201203, People&#146;s Republic
of China.</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;If the Redemption Right Triggering Event has occurred and Purchaser exercises its Redemption Right
pursuant to <U>Section&nbsp;5.12(a)</U>, (i) the Company shall, within fifteen (15)&nbsp;Business Days after the date the Redemption Notice is given, pay to Purchaser in respect of the Remaining Subject Shares as of the Redemption Date an amount
equal to (A)&nbsp;the Remaining Investment Amount as of the Redemption Date <U>multiplied</U> by (B) 120% (the &#147;<U>Redemption Price</U>&#148;), in accordance with <U>Section&nbsp;5.14</U> (the date on which the Redemption Price is so paid, the
&#147;<U>Redemption Date</U>&#148;). </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><A NAME="exctoc421570_49"></A>Section&nbsp;5.13&nbsp;&nbsp;&nbsp;&nbsp;<U>Early Redemption
Right</U>. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;Without limiting <U>Section&nbsp;5.12</U>, Purchaser may, at any time within two (2)&nbsp;years
after the Closing Date and following (i)&nbsp;it becoming aware of the occurrence of an Early Redemption Event (as defined in <U>Section&nbsp;5.13(b)</U> below) or (ii)&nbsp;it receiving a notice in writing from the Company notifying it of the
occurrence of an Early Redemption Event, elect, in its sole discretion, by giving written notice to the Company (the &#147;<U>Early Redemption Notice</U>&#148;), to require the Company to redeem all (but not less than all) of the Remaining Subject
Shares held by Purchaser as of the date of the Early Redemption Notice. Such Redemption Notice shall be delivered to the Company&#146;s registered office address and business address at Building No.&nbsp;3, 690 Bibo Road, Zhang Jiang <FONT
STYLE="white-space:nowrap">Hi-Tech</FONT> Park, Pudong New Area, Pudong, Shanghai 201203, People&#146;s Republic of China. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;Any of the following events that occurs within two (2)&nbsp;years
after the Closing Date shall constitute an early redemption event (each, an &#147;<U>Early Redemption Event</U>&#148;): </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(i)&nbsp;&nbsp;&nbsp;&nbsp;The ADSs cease to be listed on the NASDAQ; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(ii)&nbsp;&nbsp;&nbsp;&nbsp;The ADSs are suspended from trading on the NASDAQ for more than ten (10)&nbsp;Business Days due to
reasons other than normal corporate and business activities; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(iii)&nbsp;&nbsp;&nbsp;&nbsp;Mr.&nbsp;Zhu ceases to directly
or indirectly own 20% or more of the total outstanding and issued Shares on a fully-diluted and <FONT STYLE="white-space:nowrap">as-converted</FONT> basis partially or solely due to an acquisition, in one or more transactions, of Equity Securities
by Smilegate Entertainment Inc., a company incorporated under the laws of the Republic of Korea, and/or any of its Affiliates (&#147;<U>Smilegate Acquisition</U>&#148;); </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(iv)&nbsp;&nbsp;&nbsp;&nbsp;Mr.&nbsp;Zhu ceases to directly or indirectly own 20% or more of the total outstanding and issued
Shares on a fully-diluted and <FONT STYLE="white-space:nowrap">as-converted</FONT> basis due to any reason other than a Smilegate Acquisition; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(v)&nbsp;&nbsp;&nbsp;&nbsp;Any material breach by the Company of any of its obligations under this Agreement; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(vi)&nbsp;&nbsp;&nbsp;&nbsp;The occurrence of any Major Indebtedness Default; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(vii)&nbsp;&nbsp;&nbsp;&nbsp;Insolvency </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;The Company, the HK Holdco or any Principal Subsidiary is or is presumed or deemed to be unable or
admits inability to pay its debts as they fall due, suspends making payments on any of its debts or, by reason of actual or anticipated financial difficulties, commences negotiations with one or more of its creditors (excluding the Purchaser in its
capacity as such) with a view to rescheduling any of its Indebtedness; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;The value of the assets
of the Company, the HK Holdco or any Principal Subsidiary is less than its Liabilities (taking into account contingent and prospective Liabilities); </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c)&nbsp;&nbsp;&nbsp;&nbsp;A moratorium is declared in respect of any Indebtedness of the Company, the HK Holdco or any
Principal Subsidiary; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">28 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(viii)&nbsp;&nbsp;&nbsp;&nbsp;Any corporate action, legal proceedings or other
procedure or step is taken in relation to: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;the suspension of payments, a moratorium of any
Indebtedness, <FONT STYLE="white-space:nowrap">winding-up,</FONT> dissolution, administration, provisional supervision or reorganisation (by way of voluntary arrangement, scheme of arrangement or otherwise) of the Company, the HK Holdco or any
Principal Subsidiary other than a solvent liquidation or reorganisation of the Company, the HK Holdco or any Principal Subsidiary; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;a composition or arrangement with any creditor of the Company, the HK Holdco or any Principal
Subsidiary, or an assignment for the benefit of creditors generally of the Company, the HK Holdco or any Principal Subsidiary or a class of such creditors; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c)&nbsp;&nbsp;&nbsp;&nbsp;the appointment of a liquidator (other than in respect of a solvent liquidation of the Company, the
HK Holdco or any Principal Subsidiary), receiver, administrator, administrative receiver, compulsory manager, provisional supervisor or other similar officer in respect of the Company, the HK Holdco or any Principal Subsidiary or any of their
respective assets; or </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d)&nbsp;&nbsp;&nbsp;&nbsp;enforcement of any Security over any assets of the Company, the HK Holdco
or any Principal Subsidiary, </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">or any analogous procedure or step is taken in any jurisdiction. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">Paragraph (viii)(a) above shall not apply to any <FONT STYLE="white-space:nowrap">winding-up</FONT> petition which is frivolous
or vexatious and is discharged, stayed or dismissed within 15 days of commencement; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(ix)&nbsp;&nbsp;&nbsp;&nbsp;Any
expropriation, attachment, sequestration, distress or execution affects any asset or assets of the Company, the HK Holdco or any Principal Subsidiary; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(x)&nbsp;&nbsp;&nbsp;&nbsp;The Company suspends or ceases to carry on all or a material part of its business or of the business
of the Group taken as a whole. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c)&nbsp;&nbsp;&nbsp;&nbsp;Subject to <U>Section&nbsp;5.13(a)</U>, the Company shall, within fifteen
(15)&nbsp;Business Days after the date the Early Redemption Notice is given, pay to Purchaser in respect of the Remaining Subject Shares as of the Early Redemption Date an amount equal to, (x)&nbsp;in the case of an Early Redemption Event under
<U>Section&nbsp;5.13(b)(iii)</U>, the Remaining Investment Amount, and (y)&nbsp;in the case of an Early Redemption Event under <U>Section&nbsp;5.13</U> other than <U>Section&nbsp;5.13(b)(iii)</U>, (i) the Remaining Investment Amount as of the Early
Redemption Date <U>multiplied</U> by (ii) 120% (the &#147;<U>Early Redemption Price</U>&#148;), each in accordance with <U>Section&nbsp;5.14</U> (the date on which the Early Redemption Price is so paid, the &#147;<U>Early Redemption Date</U>&#148;).
</P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><A NAME="exctoc421570_50"></A>Section&nbsp;5.14&nbsp;&nbsp;&nbsp;&nbsp;<U>Payment of Redemption
Price and Early Redemption Price</U>. Subject to <U>Section</U><U></U><U>&nbsp;5.12</U> and <U>Section</U><U></U><U>&nbsp;5.13</U>, as applicable, on the date on which the payment of the Redemption Price or the Early Redemption Price is made: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;the Company shall pay to Purchaser the Redemption Price or the Early Redemption Price, as applicable, by wire
transfer of immediately available funds to an account designated by Purchaser within three (3)&nbsp;Business Days prior to the date of payment; and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;the Company shall update its register of members to reflect the redemption of the Subject Shares being redeemed,
and the Purchaser shall surrender to the Company the certificate(s) representing the Remaining Subject Shares being redeemed for cancellation as soon as practicable after the date on which the Redemption Price or Early Redemption Price is paid. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><A NAME="exctoc421570_51"></A>Section&nbsp;5.15&nbsp;&nbsp;&nbsp;&nbsp;<U>Registration</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;The Company shall prepare and file, as soon as practicable, but in no event later than two (2)&nbsp;months after the
Closing Date (the &#147;<U>Filing Deadline</U>&#148;), with the SEC a Registration Statement covering the resale of all Registrable Securities for an offering to be made on a continuous basis pursuant to Rule 415. Such Registration Statement shall
be on Form <FONT STYLE="white-space:nowrap">F-3</FONT> (or, if Form <FONT STYLE="white-space:nowrap">F-3</FONT> is not then available to the Company, on such form of Registration Statement as is then available to effect a registration for resale of
the Registrable Securities). The Company shall use its best efforts (i)&nbsp;to cause such Registration Statement to be declared effective by the SEC under the Securities Act (unless it becomes effective automatically upon filing) as promptly as
possible after the filing thereof, and shall respond to any comments received from the SEC within ten (10)&nbsp;Business Days, and (ii)&nbsp;to keep such Registration Statement continuously effective under the Securities Act until the date on which
all Registrable Securities covered by such Registration Statement have been sold (the &#147;<U>Effective Period</U>&#148;). Such Registration Statement shall not include any Shares or other securities for the account of any other holder without the
prior written consent of Purchaser. Notwithstanding the registration obligations set forth in this <U>Section&nbsp;5.15</U>, if the SEC informs the Company that all of the Registrable Securities cannot, as a result of the application of Rule 415
under the Securities Act, be registered for resale as a secondary offering on a single registration statement, the Company agrees to promptly (i)&nbsp;inform each Holder and use its best efforts to file amendments to the Registration Statement as
required by the SEC and/or (ii)&nbsp;withdraw the Registration Statement and file a new Registration Statement (a &#147;<U>New Registration Statement</U>&#148;), in either case covering the maximum number of Registrable Securities permitted to be
registered by the SEC, on Form <FONT STYLE="white-space:nowrap">F-3</FONT> or such other form available to register for resale the Registrable Securities as a secondary offering; <U>provided</U>, <U>however</U>, that prior to filing such amendment
or New Registration Statement, the Company shall be obligated to use its best efforts to advocate with the SEC for the registration of all of the Registrable Securities in accordance with any publicly-available written or oral guidance, comments,
requirements or requests of the SEC&#146;s staff (&#147;<U>Commission Guidance</U>&#148;). In the event the Company amends the Registration Statement or files a New Registration Statement, as the case may be, under clauses (i)&nbsp;or (ii) above,
the Company will use its best efforts to file with the SEC, as promptly as allowed by the SEC or Commission Guidance, one or more Registration Statements on Form <FONT STYLE="white-space:nowrap">F-3</FONT> or such other forms available to register
for resale those Registrable Securities that were not registered for resale on the Registration Statement, as amended, or the New Registration Statement (the &#147;<U>Additional Registration Statements</U>&#148;). For purposes of this Agreement, the
filing deadline of a New Registration Statement and an Additional Registration Statement shall be the tenth (10th) day after the date that the Company is allowed to file such New Registration Statement or Additional Registration Statement, as
applicable, by the SEC or Commission Guidance. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">30 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;Subject to the requirements of <U>Section&nbsp;5.15(a)</U> regarding
the Filing Deadline, whenever required to effect the registration of any Registrable Securities under this Agreement, the Company shall, as expeditiously as possible: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(i)&nbsp;&nbsp;&nbsp;&nbsp;prepare and file with the SEC a Registration Statement with respect to such Registrable Securities
and use its best efforts to cause a Registration Statement that registers such Registrable Securities to become effective, and keep such Registration Statement effective until all of the Registrable Securities have been disposed of; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(ii)&nbsp;&nbsp;&nbsp;&nbsp;prepare and file with the SEC such amendments and supplements to such Registration Statement and
the Prospectus used in connection with such Registration Statement as may be necessary to keep the Registration Statement effective for the Effective Period and to comply with the provisions of the Securities Act and the Exchange Act with respect to
the disposition of all securities covered by such Registration Statement; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(iii)&nbsp;&nbsp;&nbsp;&nbsp;furnish to each
Holder a Prospectus which requirement may be fulfilled by the public filing of such Prospectus on the Electronic Data Gathering, Analysis and Retrieval system of the SEC, including a preliminary prospectus, in conformity with the requirements of the
Securities Act, and such other documents as the Purchaser may reasonably request in order to facilitate the disposition of the Registrable Securities owned by it that are included in such registration; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(iv)&nbsp;&nbsp;&nbsp;&nbsp;notify each Holder and its counsel in writing (A)&nbsp;of the receipt by the Company of any
notification with respect to any comments by the SEC with respect to such Registration Statement or Prospectus or any amendment or supplement thereto or any request by the SEC for the amending or supplementing thereof or for additional information
with respect thereto, (B)&nbsp;of the receipt by the Company of any notification with respect to the issuance by the SEC of any stop order suspending the effectiveness of such Registration Statement or Prospectus or any amendment or supplement
thereto or the initiation or threatening of any proceeding for that purpose, (C)&nbsp;of the receipt by the Company of any notification with respect to the suspension of the qualification of such Registrable Securities for sale in any jurisdiction
or the initiation or threatening of any proceeding for such purposes, and (D)&nbsp;of the existence of any fact or the happening of any event that causes the Company to become an &#147;ineligible issuer,&#148; as defined in Rule 405 of the
Securities Act; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(v)&nbsp;&nbsp;&nbsp;&nbsp;use its best efforts to avoid the issuance of, or, if issued, obtain the
withdrawal of (A)&nbsp;any order suspending the effectiveness of the Registration Statement, or (B)&nbsp;any suspension of the qualification (or exemption from qualification) of any of the Registrable Securities for sale in any jurisdiction, at the
earliest practicable moment; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(vi)&nbsp;&nbsp;&nbsp;&nbsp;use its best efforts to register and qualify the securities
covered by such Registration Statement under such other securities Laws of such jurisdictions as shall be reasonably requested by the Purchaser; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">31 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(vii)&nbsp;&nbsp;&nbsp;&nbsp;immediately notify each Holder, at any time prior to
the end of the Effective Period, upon discovery that, or upon the happening of any event as a result of which, the Prospectus includes an untrue statement of a material fact or omits to state a material fact required to be stated therein or
necessary to make the statements therein not misleading in the light of the circumstances then existing, and promptly prepare, file with the SEC and furnish to each Holder a supplement to or an amendment of such Prospectus as may be necessary so
that such Prospectus shall not include any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading in the light of the circumstances then existing;
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(viii)&nbsp;&nbsp;&nbsp;&nbsp;use its best efforts to list such Registrable Securities on each securities exchange on
which the Shares (including American depositary shares representing the Shares) are then listed; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(ix)&nbsp;&nbsp;&nbsp;&nbsp;cooperate with each Holder and the Depositary to facilitate the timely delivery of ADSs (in book
entry or certificated form) to be delivered to a transferee pursuant to a Registration Statement, which ADSs shall be free of all restrictive legends. In connection therewith, if required by the Company&#146;s agent which maintains the register of
members of Shares or the Depositary, the Company shall promptly after the effectiveness of the Registration Statement cause an opinion of legal counsel as to the effectiveness of the Registration Statement to be delivered to such agent or the
Depositary, together with any other authorizations, certificates and directions requested by such agent or the Depositary, which authorize and direct such agent or the Depositary to issue such Registrable Securities without legend upon sale by the
Purchaser under the Registration Statement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c)&nbsp;&nbsp;&nbsp;&nbsp;The Company understands that each Holder disclaims being an
underwriter, but in the event any Holder is deemed an underwriter, the Company shall not be relieved of any obligations it has hereunder. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><A NAME="exctoc421570_52"></A>Section&nbsp;5.16&nbsp;&nbsp;&nbsp;&nbsp;<U>Review by Counsel</U>.&nbsp;In connection with the preparation and
filing of each Registration Statement registering Registrable Securities under the Securities Act, each Holder and its counsel shall be permitted to review such Registration Statement and each Prospectus included therein or filed with the SEC, and
each amendment thereof or supplement thereto a reasonable period of time (but not less than ten (10)&nbsp;Business Days) prior to their filing with the SEC. </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE VI </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>CONDITIONS TO <FONT STYLE="white-space:nowrap">PRE-CLOSING</FONT> AND CLOSING</U> </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><A NAME="exctoc421570_54"></A>Section&nbsp;6.01&nbsp;&nbsp;&nbsp;&nbsp;<U>Conditions to the Obligations of Purchaser</U> <I>. </I>The
obligations of Purchaser to consummate the transactions at <FONT STYLE="white-space:nowrap">Pre-closing</FONT> contemplated by this Agreement are subject to the satisfaction of all of the following conditions (in the case of <U>Section</U><U></U><U>
6.01(i)</U>, only to the extent applicable to <FONT STYLE="white-space:nowrap">Pre-closing),</FONT> and the obligations of Purchaser to consummate the transactions at Closing contemplated by this Agreement shall be subject to the satisfaction of
<U>Section</U><U></U><U>&nbsp;6.01(i)</U> to the extent applicable to Closing: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;<U>Representations and
Warranties</U>. Each of the representations and warranties of the Company in this Agreement shall be true and correct in all material respects (without giving effect to any limitation as to &#147;materiality&#148; set forth therein) as of the <FONT
STYLE="white-space:nowrap">Pre-closing,</FONT> except for such representations and warranties made as of a specific date, which shall be true and correct as of such date. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">32 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;<U>Performance</U>. The Company shall have performed and complied in
all material respects with all agreements, covenants, obligations and conditions contained in this Agreement that are required to be performed or complied with by it at or prior to the <FONT STYLE="white-space:nowrap">Pre-closing.</FONT> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c)&nbsp;&nbsp;&nbsp;&nbsp;<U>Corporate Approvals</U>. The Company shall have duly attended to and carried out all corporate procedures that
are required under the Laws of its place of incorporation or establishment to effect its execution, delivery and performance of this Agreement and the transactions contemplated hereby. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d)&nbsp;&nbsp;&nbsp;&nbsp;<U>No Material Adverse Effect</U>. Since the date of this Agreement, there shall not have occurred any Material
Adverse Effect. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e)&nbsp;&nbsp;&nbsp;&nbsp;<U>Qualification under Securities Laws</U>. All registrations, qualifications, permits and
approvals, if any, required to be obtained prior to the <FONT STYLE="white-space:nowrap">Pre-closing</FONT> under applicable securities Laws shall have been obtained for the lawful execution, delivery and performance of this Agreement including,
without limitation, the offer and sale of the Subject Shares. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(f)&nbsp;&nbsp;&nbsp;&nbsp;<U>Orders</U>. There shall be no Governmental
Authority that has </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(i)&nbsp;&nbsp;&nbsp;&nbsp;instituted or to the Knowledge of the Company or the Purchaser, threatened
any action or investigation to restrain, prohibit or otherwise challenge any transaction contemplated under this Agreement; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(ii)&nbsp;&nbsp;&nbsp;&nbsp;to the Knowledge of the Company or the Purchaser, threatened to take any action as a result of or
in anticipation of transactions contemplated under this Agreement; or </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(iii)&nbsp;&nbsp;&nbsp;&nbsp;proposed, enacted,
issued, promulgated, enforced or entered any Law or Governmental Order (whether temporary, preliminary or permanent) which would prohibit, restrict or delay the (A)&nbsp;the transactions contemplated by this Agreement, (B)&nbsp;the operations of the
Group Companies, as a whole, after the date hereof, including to compel the Group Companies to dispose of all or a material portion of the business or assets of the Group Companies, as a whole, as a result of the consummation of such transactions.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(g)&nbsp;&nbsp;&nbsp;&nbsp;<U>Trading</U>. Trading in the ADSs shall not be the subject of a current suspension order or trading halt by
either the SEC or by NASDAQ, shall not be the subject of a current suspension or trading halt or then be subject to material limitations. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(h)&nbsp;&nbsp;&nbsp;&nbsp;<U>SEC Filings</U>. The Company shall have filed, on a timely basis, all the SEC Filings during the thirty six
(36)&nbsp;months preceding the <FONT STYLE="white-space:nowrap">Pre-closing</FONT> Date. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">33 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(i)&nbsp;&nbsp;&nbsp;&nbsp;<U><FONT STYLE="white-space:nowrap">Pre-closing</FONT> and Closing
Deliverables</U>. Purchaser shall have received the documents and deliveries set forth in Section&nbsp;2.02(a) required by this Agreement to be delivered at <FONT STYLE="white-space:nowrap">Pre-closing</FONT> or Closing, as applicable, as specified
under Section&nbsp;2.02(a). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><A NAME="exctoc421570_55"></A>Section&nbsp;6.02&nbsp;&nbsp;&nbsp;&nbsp;<U>Conditions to the Obligations of
the Company</U>. <I></I>The obligations of the Company to consummate the transactions at <FONT STYLE="white-space:nowrap">Pre-closing</FONT> contemplated by this Agreement are subject to the satisfaction of all of the following conditions&nbsp;(in
the case of <U>Section</U><U></U><U> 6.02(f),</U> only to the extent applicable to <FONT STYLE="white-space:nowrap">Pre-closing)</FONT> except <U>Section</U><U></U><U>&nbsp;6.02(e)</U>. The obligations of the Company to consummate the transactions
at Closing contemplated by this Agreement shall be subject to the satisfaction of and <U>Section</U><U></U><U>&nbsp;6.02(e)</U> and <U>Section</U><U></U><U>&nbsp;6.02(f)</U> (to the extent applicable to Closing): </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;<U>Representations and Warranties</U>. Each of the representations and warranties of Purchaser in this Agreement
shall be true and correct in all material respects (without giving effect to any limitation as to &#147;materiality&#148; set forth therein) as of <FONT STYLE="white-space:nowrap">Pre-closing,</FONT> except for such representations and warranties
made as of a specific date, which shall be true and correct as of such date. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;<U>Performance</U>. Purchaser
shall have performed and complied in all material respects with all agreements, covenants, obligations and conditions contained in this Agreement that are required to be performed or complied with by it at or prior to the <FONT
STYLE="white-space:nowrap">Pre-closing.</FONT> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c)&nbsp;&nbsp;&nbsp;&nbsp;<U>Corporate Authority</U>. Purchaser shall have duly attended
to and carried out all corporate procedures that are required under the laws of its place of incorporation or establishment to effect its execution, delivery and performance of this Agreement, and the transactions contemplated hereby. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d)&nbsp;&nbsp;&nbsp;&nbsp;<U>No Injunction</U>. No temporary restraining order, preliminary or permanent injunction or other order or decree
issued by any Governmental Authority of competent jurisdiction shall be in effect which prevents the consummation of the transactions contemplated by this Agreement on the terms contemplated herein, and no applicable Law shall have been enacted or
be deemed applicable to the transactions contemplated by this Agreement that makes consummation of the transactions contemplated by this Agreement illegal. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e)&nbsp;&nbsp;&nbsp;&nbsp;<U>SAFE Approval</U>. Purchaser shall have obtained the necessary SAFE approval for converting Renminbi into U.S.
dollars for the payment of the Investment Amount hereunder. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(f)&nbsp;&nbsp;&nbsp;&nbsp;<U><FONT STYLE="white-space:nowrap">Pre-Closing</FONT> and Closing Deliverables</U>. The Company shall have
received the documents and deliveries set forth in <U>Section&nbsp;2.02(b)</U> required by this Agreement to be delivered at <FONT STYLE="white-space:nowrap">Pre-closing</FONT> or Closing, as applicable, as specified under
<U>Section&nbsp;2.02(b)</U>. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">34 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE VII </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>INDEMNIFICATION </U></B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><A NAME="exctoc421570_57">
</A>Section&nbsp;7.01&nbsp;&nbsp;&nbsp;&nbsp;<U>Survival of Representations and Warranties</U>. All representations and warranties contained in this Agreement or any certificate delivered in connection herewith shall be deemed to be material and to
have been relied upon by the Parties. The representations and warranties set forth under <U>Article III</U> shall survive the Closing until twelve (12)&nbsp;months after the Closing; <U>provided</U>, <U>however</U>, that the representations and
warranties set forth in <U>Section</U><U></U><U>&nbsp;3.01</U>, <U>Section</U><U></U><U>&nbsp;3.02</U>, <U>Section</U><U></U><U>&nbsp;3.05(i)</U>, <U>Section</U><U></U><U>&nbsp;3.06</U>, <U>Section</U><U></U><U>&nbsp;4.01</U> and
<U>Section</U><U></U><U>&nbsp;4.02</U> shall survive indefinitely. Any covenants and agreements of each Party contained in or made pursuant to this Agreement shall survive the Closing indefinitely or, if there is a period explicitly specified
therein, for such specified period. The Parties hereby agree and acknowledge that the survival periods set forth in this <U>Section</U><U></U><U>&nbsp;7.01</U> are contractual statutes of limitations and any claim brought by any Party pursuant to
this <U>Article VII</U> must be brought or filed prior to the expiration of the applicable survival period. Notwithstanding the foregoing, any claims which are timely asserted prior to the expiration date of the applicable survival period shall not
thereafter be barred by the expiration of the relevant representation or warranty and such claims shall survive until finally resolved. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><A NAME="exctoc421570_58">
</A>Section&nbsp;7.02&nbsp;&nbsp;&nbsp;&nbsp;<U>Indemnification by the Company</U>&nbsp;. The Company shall indemnify, defend and hold harmless Purchaser and its directors, officers, employees, Affiliates, agents, assigns and transferees (each a
&#147;<U>Purchaser Indemnified Party</U>&#148;) from and against any Losses resulting from, arising out of or in connection with (a)&nbsp;any inaccuracy or breach of any representation or warranty of the Company contained in this Agreement or any
certificate delivered by or on behalf of the Company in connection herewith, or (b)&nbsp;any breach of any covenant or agreement of the Company contained in this Agreement, <U>provided</U><I> </I>that the Company&#146;s maximum Liability under this
<U>Section</U><U></U><U>&nbsp;7.02</U> shall not exceed an amount equal to US$15&nbsp;million. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><A NAME="exctoc421570_59"></A>Section&nbsp;7.03&nbsp;&nbsp;&nbsp;&nbsp;<U>Materiality Determination</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding anything to the contrary in this Agreement and for the avoidance of doubt, for purposes of the
indemnification provisions in <U>Section&nbsp;7.02</U>, any determination of whether any breach of a representation or warranty has occurred under this Agreement shall be made in strict accordance with the terms of the relevant representation or
warranty, taking into account any and all &#147;materiality&#148; or &#147;Material Adverse Effect&#148; qualifiers or words of similar import contained therein. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;Once a breach is determined to have occurred in accordance with <U>Section&nbsp;7.03(a)</U>, for the purpose of
determining the amount of Losses resulting from such breach, any &#147;materiality&#148; or &#147;Material Adverse Effect&#148; qualifiers or words of similar import contained in such representation or warranty shall in each case be disregarded and
not be given effect (as if such standard or qualification were deleted from such representation or warranty). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><A NAME="exctoc421570_60"></A>Section&nbsp;7.04&nbsp;&nbsp;&nbsp;&nbsp;<U>Indemnified Party</U>. Subject to this <U>Article VII</U>, the
amount of any payment to any such Indemnified Party shall be sufficient to make such Indemnified Party whole for any diminution in value of the Securities held by it directly resulting from such breach. Any indemnity referred to in this <U>Article
VII</U> for a breach shall be such as to place the Indemnified Party in the same position as it would have been in had there not been any breach under which the Indemnified Party is to be indemnified. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><A NAME="exctoc421570_61"></A>Section&nbsp;7.05&nbsp;&nbsp;&nbsp;&nbsp;<U>Notice of Claims; Procedures</U>. If any Indemnified Party makes any
claim against the Indemnifying Party for indemnification under this <U>Article VII</U>, the claim shall be in writing and shall state in general terms the facts upon which such Indemnified Party makes the claim and shall pay the amount payable under
the claim in accordance with <U>Section</U><U></U><U>&nbsp;7.07</U>. If the Company or Purchaser, as applicable (each, an &#147;<U>Indemnifying Party</U>&#148;) does not notify the Indemnified Party in writing within twenty (20)&nbsp;Business Days
from receipt of such claim that the Indemnifying Party disputes such claim, the Indemnifying Party shall be deemed to have accepted and agreed with such claim. In the event of any claim or demand asserted against an Indemnified Party by a third
party upon which the Indemnified Party may claim indemnification, the Indemnifying Party shall give written notice to the Indemnified Party within twenty (20)&nbsp;Business Days after receipt from the Indemnified Party of such claim or demand,
indicating whether the Indemnifying Party intends to assume the defense of the claim or demand. If the Indemnifying Party assumes the defense, the Indemnifying Party may not agree to any compromise or settlement to which the Indemnified Party has
not consented in writing. If the Indemnifying Party elects not to assume the defense or fails to make such an election within the twenty (20)&nbsp;Business Day period, or otherwise fails to continue the defense of the Indemnified Party reasonably
and in good faith, the Indemnified Party may assume the defense thereof at the expense of the Indemnifying Party, and a recovery against the Indemnified Party suffered by it in good faith shall be conclusive in its favor against the Indemnifying
Party. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">35 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><A NAME="exctoc421570_62"></A>Section&nbsp;7.06&nbsp;&nbsp;&nbsp;&nbsp;<U>Investigation</U>. The
representations, warranties, covenants and agreement of the Indemnifying Parties, and any Indemnified Party&#146;s right to indemnification with respect thereto, shall not be affected or deemed waived by reason of any investigation made by or on
behalf of any Indemnified Party or by reason of the fact that the Indemnified Party knew or should have known that any such representation or warranty is, was or might be inaccurate or by reason of any Indemnified Party&#146;s waiver of any
condition set forth in <U>Article VI</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><A NAME="exctoc421570_63"></A>Section&nbsp;7.07&nbsp;&nbsp;&nbsp;&nbsp;<U>Payment</U>. Upon the
earlier to occur of (a)&nbsp;the agreement of the Indemnifying Party to pay the amount claimed by an Indemnified Party in a claim notice, or (b)&nbsp;a final determination of an arbitration tribunal of competent jurisdiction as provided for in
<U>Section</U><U></U><U>&nbsp;9.02</U> that any amount is payable by an Indemnifying Party hereunder, such Indemnifying Party shall pay the Indemnified Party as soon as commercially practicable but in no event more than thirty (30)&nbsp;Business
Days thereafter. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><A NAME="exctoc421570_64"></A>Section&nbsp;7.08&nbsp;&nbsp;&nbsp;&nbsp;<U>Indemnification relating to Securities Laws
Violations</U>. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;<U>By the Company</U>. The Company shall indemnify and hold harmless any Holder, its officers,
directors, employees, members, partners, and advisors and its respective Affiliates, each broker or any other Person acting on behalf of such Holder and each other Person, if any, who controls any of the foregoing Persons within the meaning of the
Securities Act or the Exchange Act against all Losses, claims, damages, liabilities, or actions joint or several (or actions in respect thereof), to which any of the foregoing Persons may become subject under the Securities Act, the Exchange Act or
other federal or state securities Law, insofar as such Losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any of the following statements, omissions or violations (collectively
&#147;<U>Violations</U>&#148;): (i) any untrue statement or alleged untrue statement of a material fact contained in such Registration Statement including any Prospectus contained therein or any amendments or supplements thereto; (ii)&nbsp;any
omission or alleged omission to state therein a material fact required to be stated therein, or necessary to make the statements therein not misleading; or (iii)&nbsp;any violation or alleged violation by the Company of the Securities Act, the
Exchange Act, any federal or state securities Law or any rule or regulation promulgated under the Securities Act, the Exchange Act or any federal or state securities Law in connection with such registration statement; and the Company will reimburse
such Holder and each such officer, director, employee, member, partner, and advisor and their respective Affiliates, each broker or any other Person acting on behalf of such Holder or controlling Person for any legal or other expenses reasonably
incurred by them in connection with defending any such Loss, claim, damage, Liability or action; <U>provided</U>, <U>however</U>, the indemnity agreement contained in this <U>Section&nbsp;7.08(a)</U> shall not apply to amounts paid in settlement of
any such Loss, claim, damage, Liability or action if such settlement is effected without the written consent of the Company (which consent shall not be unreasonably withheld), nor shall the Company be liable in any such case for any such Loss,
claim, damage, Liability or action to the extent that it arises out of or is based upon a Violation which occurs in reliance upon and in conformity with written information furnished expressly for use in connection with such registration by any such
foregoing Person. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">36 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;<U>By the Holder</U>. Each Holder shall, severally and not jointly,
indemnify and hold harmless the Company, each of its directors, each of its officers who have signed the registration statement, each other Person, if any, who controls the Company within the meaning of the Securities Act or the Exchange Act,
against all Losses, claims, damages or liabilities (joint or several) to which the Company or any such foregoing Person may become subject under the Securities Act, the Exchange Act or other federal or state Law, insofar as such Losses, claims,
damages or liabilities (or actions in respect thereto) arise out of or are based upon any Violation, in each case to the extent (and only to the extent) that such Violation occurs in reliance upon and in conformity with written information furnished
by such Holder under an instrument duly executed by such Holder and stated to be expressly for use in connection with such registration; and such Holder will reimburse any legal or other expenses reasonably incurred by the Company or any such
foregoing Person in connection with defending any such Loss, claim, damage, Liability or action; <U>provided</U>, <U>however</U>, the indemnity agreement contained in this <U>Section&nbsp;7.08(b)</U> shall not apply to amounts paid in settlement of
any such Loss, claim, damage, Liability or action if such settlement is effected without the written consent of the such Holder (which consent shall not be unreasonably withheld); <U>provided</U>, <U>further</U>, the total amounts payable in
indemnity by such Holder under this <U>Section&nbsp;7.08(b)</U> and <U>Section&nbsp;7.08(d)</U> in respect of any Violation shall not exceed the net proceeds actually received by Purchaser upon the sale of the Registrable Securities out of which
such Violation arises. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c)&nbsp;&nbsp;&nbsp;&nbsp;<U>Notice</U>. Promptly after receipt by an Indemnified Party under this
<U>Section&nbsp;7.08</U> of notice of the commencement of any action (including any governmental action), such Indemnified Party will, if a claim in respect thereof is to be made against any Indemnifying Party under this <U>Section&nbsp;7.08</U>,
deliver to the Indemnifying Party a written notice of the commencement thereof and the Indemnifying Party shall have the right to participate in, and, to the extent the Indemnifying Party so desires, jointly with any other Indemnifying Party
similarly noticed, to assume the defense thereof with counsel mutually satisfactory to the parties; <U>provided</U>, <U>however</U>, an Indemnified Party shall have the right to retain its own counsel, with the fees and expenses to be paid by the
Indemnifying Party, if representation of such Indemnified Party by the counsel retained by the Indemnifying Party would be inappropriate due to actual or potential conflict of interests between such Indemnified Party and any other party represented
by such counsel in such proceeding. The failure to deliver written notice to the Indemnifying Party within a reasonable time of the commencement of any such action, if prejudicial to its ability to defend such action, shall relieve such Indemnifying
Party of any Liability to the Indemnified Party under this <U>Section&nbsp;7.08</U>. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">37 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d)&nbsp;&nbsp;&nbsp;&nbsp;<U>Contribution</U>. If the indemnification provided for in this
<U>Section&nbsp;7.08</U> is held by a court of competent jurisdiction to be unavailable to an Indemnified Party with respect to any Losses, claims, damages or liabilities referred to herein, the Indemnifying Party, in lieu of indemnifying such
Indemnified Party thereunder, shall to the extent permitted by applicable Law contribute to the amount paid or payable by such Indemnified Party as a result of such Loss, claim, damage or Liability in such proportion as is appropriate to reflect the
relative fault of the Indemnifying Party on the one hand and of the Indemnified Party on the other in connection with the Violation(s) that resulted in such Loss, claim, damage or Liability, as well as any other relevant equitable considerations.
The relative fault of the Indemnifying Party and of the Indemnified Party shall be determined by a court of Law by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged
omission to state a material fact relates to information supplied by the Indemnifying Party or by the Indemnified Party and the parties&#146; relative intent, knowledge, access to information and opportunity to correct or prevent such statement or
omission; <U>provided</U>, <U>however</U>, in no event shall any contribution by Purchaser hereunder, when combined with any amounts paid or payable by Purchaser pursuant to <U>Section&nbsp;7.08(b)</U> hereof, exceed the net proceeds actually
received by Purchaser upon the sale of the Registrable Securities out of which such Violation arises. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><A NAME="exctoc421570_65"></A>Section&nbsp;7.09&nbsp;&nbsp;&nbsp;&nbsp;<U>Exclusive Remedy</U>. Following the Closing, indemnification as set
forth in this <U>Article VII</U> shall be (i)&nbsp;the exclusive remedy available to Purchaser with respect to any breaches of any representations and warranties, covenants or agreement by the Company, and (ii)&nbsp;the exclusive remedy available to
the Company and Holder in relation to any matters set forth in <U>Section</U><U></U><U>&nbsp;7.08</U>, except in each case pursuant to <U>Section</U><U></U><U>&nbsp;9.04</U> or in the case of fraud or willful or intentional misconduct by the other
Party (which remedies shall, for the avoidance of doubt, be in addition to the remedies set forth in this <U>Article VII</U>). </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE
VIII </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>TERMINATION </U></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><A NAME="exctoc421570_67"></A>Section&nbsp;8.01&nbsp;&nbsp;&nbsp;&nbsp;<U>Termination</U><I>.</I> This Agreement may be terminated and the
transactions contemplated by this Agreement may be abandoned at any time prior to the Closing: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;by written
agreement of the Company and Purchaser; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;by the Company or Purchaser if an injunction, restraining order or
decree of any nature of any Governmental Authority of competent jurisdiction is issued that prohibits the consummation of the transactions contemplated hereby due to reasons other than a fault of such Party; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c)&nbsp;&nbsp;&nbsp;&nbsp;by Purchaser if the Company shall have breached, in any material respect, any of its representations, warranties,
covenants or other obligations under this Agreement and such breach shall be incapable of cure or has not been cured within fourteen (14)&nbsp;days following the giving of written notice of such breach to the Company; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">38 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d)&nbsp;&nbsp;&nbsp;&nbsp;by the Company if Purchaser shall have breached, in any material
respect, any of its representations, warranties, covenants or other obligations under this Agreement and such breach shall be incapable of cure or has not been cured within fourteen (14)&nbsp;days following the giving of written notice of such
breach to Purchaser; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e)&nbsp;&nbsp;&nbsp;&nbsp;by the Company or Purchaser if any of the conditions set forth in <U>Article VI</U>
required by this Agreement to be satisfied at Closing have not been satisfied or waived by the date falling three (3)&nbsp;months after the date of <FONT STYLE="white-space:nowrap">Pre-closing,</FONT> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">provided that, where the termination occurs after the <FONT STYLE="white-space:nowrap">Pre-closing</FONT> and prior to the Closing, the
Company shall cancel the Subject Shares in respect of which the Purchaser has not paid the Investment Amount, and the Purchaser shall be under no obligation whatsoever to pay any amount to the Company in respect of the Subject Shares. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Party desiring to terminate this Agreement pursuant to this <U>Section</U><U></U><U>&nbsp;8.01</U> (other than pursuant to
<U>Section</U><U></U><U>&nbsp;8.01(a)</U>) shall give a notice of such termination to the other Party setting forth a brief description of the basis on which such Party is terminating this Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><A NAME="exctoc421570_68"></A>Section&nbsp;8.02&nbsp;&nbsp;&nbsp;&nbsp;<U>Effect of Termination</U><I>. </I>If this Agreement is terminated in
accordance with <U>Section</U><U></U><U>&nbsp;8.01</U>, it shall become void and of no further force and effect, except for the provisions of <U>Section</U><U></U><U>&nbsp;1.01</U> (Definition), <U>Section</U><U></U><U>&nbsp;1.02</U> (Definitional
and Interpretative Provisions), <U>Section</U><U></U><U>&nbsp;5.07</U> (Public Disclosure), <U>Section</U><U></U><U>&nbsp;5.08</U> (Confidentiality), <U>Article VII</U> (Indemnification), this <U>Section</U><U></U><U>&nbsp;8.02</U>,
<U>Section</U><U></U><U>&nbsp;9.01</U> (Governing Law), <U>Section</U><U></U><U>&nbsp;9.02</U> (Arbitration) and <U>Section</U><U></U><U>&nbsp;9.06</U> (Fees and Expenses); <U>provided</U>, <U>however</U>, that such termination, unless otherwise
agreed to by the Company and Purchaser, shall be without prejudice to the rights or obligations of any Party in respect of a breach of this Agreement prior to such termination. </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE IX </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>MISCELLANEOUS </U></B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><A NAME="exctoc421570_70">
</A>Section&nbsp;9.01&nbsp;&nbsp;&nbsp;&nbsp;<U>Governing Law</U>. This Agreement shall be governed by, and construed in accordance with, the Laws of the State of New York. Nothing in this Agreement shall affect the right to serve process in any
manner permitted by Law. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><A NAME="exctoc421570_71"></A>Section&nbsp;9.02&nbsp;&nbsp;&nbsp;&nbsp;<U>Arbitration</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;Any dispute, controversy, difference, proceedings or claim arising out of or relating to this Agreement, including
the existence, validity, interpretation, performance, breach or termination thereof or any dispute regarding <FONT STYLE="white-space:nowrap">non-contractual</FONT> obligations arising out of or relating to it shall be referred to and finally
resolved by arbitration administered by the Hong Kong International Arbitration Centre (&#147;<U>HKIAC</U>&#148;) under the HKIAC Administered Arbitration rules (&#147;<U>HKIAC Rules</U>&#148;) in force when the notice of arbitration is submitted,
which rules are deemed to be incorporated by reference into this <U>Section&nbsp;9.02</U>. In the event that the HKIAC Rules in effect are in conflict with the provisions of this <U>Section&nbsp;9.02</U>, the provisions of this
<U>Section&nbsp;9.02</U> shall prevail. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">39 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;The seat of arbitration shall be Hong Kong. The number of arbitrators
shall be three. The arbitration proceedings shall be conducted in English. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c)&nbsp;&nbsp;&nbsp;&nbsp;The arbitrators shall decide any
dispute submitted by the parties to the arbitration strictly in accordance with the substantive Law of New York and shall not apply any other substantive Law. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d)&nbsp;&nbsp;&nbsp;&nbsp;Each of the Parties shall cooperate with any party to the dispute in making full disclosure of and providing
complete access to all information and documents requested by such Party in connection with such arbitration proceedings, subject only to any confidentiality obligations binding on the party receiving the request. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e)&nbsp;&nbsp;&nbsp;&nbsp;The award of the arbitration tribunal shall be final and binding upon the disputing parties, and any party to the
dispute may apply to a court of competent jurisdiction for enforcement of such award. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(f)&nbsp;&nbsp;&nbsp;&nbsp;The Parties waive any
objection, on the basis of any decision to join an additional party to the arbitration, to the validity and/or enforcement of any award made by the arbitral tribunal in the arbitration, in so far as such waiver can validly be made. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(g)&nbsp;&nbsp;&nbsp;&nbsp;The Parties waive any objection, on the basis of HKIAC&#146;s decision to consolidate arbitrations involving claims
arising out of or in connection with this Agreement, to the validity and/or enforcement of any award made by the arbitral tribunal in the consolidated proceedings, in so far as such waiver can validly be made. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(h)&nbsp;&nbsp;&nbsp;&nbsp;The Parties waive any objection, on the basis of the commencement of a single arbitration involving claims arising
out of or in connection with this Agreement, to the validity and/or enforcement of any award made by the arbitral tribunal in the arbitration, in so far as such waiver can validly be made. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><A NAME="exctoc421570_72"></A>Section&nbsp;9.03&nbsp;&nbsp;&nbsp;&nbsp;<U>Notices</U>. All notices, requests and other communications required
or permitted under, or otherwise made in connection with, this Agreement, shall be in writing and shall be deemed to have been duly given (a)&nbsp;when delivered in person, (b)&nbsp;upon confirmation of receipt when transmitted by email or by
facsimile transmission, if sent during normal business hours of the recipient; otherwise on the next Business Day, (c)&nbsp;upon receipt after dispatch by registered or certified mail, postage prepaid or (d)&nbsp;on the next Business Day if
transmitted by national overnight courier (with confirmation of delivery), in each case, addressed as follows: </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">40 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">if to Purchaser, to: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">c/o Incsight Limited </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Building
No.&nbsp;3, 690 Bibo Road </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Zhang Jiang <FONT STYLE="white-space:nowrap">Hi-Tech</FONT> Park </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Pudong New Area, Pudong </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Shanghai 201203 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">People&#146;s
Republic of China </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Attention: Jun Zhu </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Facsimile No.: <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">+86-21-5172-9903</FONT></FONT> </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Email: chiweina@corp.the9.com </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">if to the Company, to: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">The9
Limited </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Building No.&nbsp;3, 690 Bibo Road </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Zhang Jiang <FONT STYLE="white-space:nowrap">Hi-Tech</FONT> Park </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Pudong New Area, Pudong </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Shanghai 201203 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">People&#146;s
Republic of China </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Attention: George Lai </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Facsimile No.: <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">+86-21-5172-9903</FONT></FONT> </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Email: georgelai@corp.the9.com </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">or to such
other address, email address or facsimile number as such Party may hereafter specify for the purpose by notice to the other Parties. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><A NAME="exctoc421570_73">
</A>Section&nbsp;9.04&nbsp;&nbsp;&nbsp;&nbsp;<U>Specific Performance</U>. The Parties agree that irreparable damage would occur in the event that the breaching party does not perform the provisions of this Agreement in accordance with its specified
terms or otherwise breach such provisions. Accordingly, the Parties acknowledge and agree that the <FONT STYLE="white-space:nowrap">non-breaching</FONT> party shall be entitled to seek a preservation order, an injunction, specific performance and
other equitable or interim relief to prevent breaches of this Agreement by the breaching party and to enforce specifically the terms and provisions hereof, this being in addition to any other remedy to which they are entitled at law or in equity.
The breaching party agrees that it will not oppose the granting of an injunction, specific performance and other equitable relief to the <FONT STYLE="white-space:nowrap">non-breaching</FONT> party on the basis that (a)&nbsp;the <FONT
STYLE="white-space:nowrap">non-breaching</FONT> party has an adequate remedy at law or (b)&nbsp;an award of specific performance is not an appropriate remedy for any reason at law or equity. In seeking an injunction or injunctions to prevent
breaches of this Agreement and to enforce specifically the terms and provisions of this Agreement, the <FONT STYLE="white-space:nowrap">non-breaching</FONT> party shall not be required to provide any bond or other security in connection with any
such order or injunction. The remedies available to Purchaser pursuant to this <U>Section</U><U></U><U>&nbsp;9.04</U> shall be in addition to any other remedy to which it is entitled at law or in equity, and the election to pursue an injunction or
specific performance shall not restrict, impair or otherwise limit the <FONT STYLE="white-space:nowrap">non-breaching</FONT> party from, in the alternative, seeking to terminate this Agreement and collect a remedy at law. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">41 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;9.05&nbsp;&nbsp;&nbsp;&nbsp;<U>Amendments and Waivers</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;Any provision of this Agreement may be amended or waived if, but only if, such amendment or waiver is in writing and
is signed, in the case of an amendment, by each Party to this Agreement or, in the case of a waiver, by each Party against whom the waiver is to be effective. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;No failure or delay by any party in exercising any right, power or privilege hereunder shall operate as a waiver
thereof nor shall any single or partial exercise thereof preclude any other or further exercise thereof or the exercise of any other right, power or privilege. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><A NAME="exctoc421570_75"></A>Section&nbsp;9.06&nbsp;&nbsp;&nbsp;&nbsp;<U>Fees and Expenses</U>. Except as otherwise provided herein, each
Party shall pay all of its own fees and expenses (including attorneys&#146; fees) incurred in connection with this Agreement and the transactions contemplated hereby, except that the Company and Purchaser shall each pay <FONT
STYLE="white-space:nowrap">one-half</FONT> of any reasonable <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">out-of-pocket</FONT></FONT> expenses payable in connection with the sales, use, transfer, stamp duty or similar taxes
payable in connection with the conveyance, transfer and assignment of the Subject Shares. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><A NAME="exctoc421570_76"></A>Section&nbsp;9.07&nbsp;&nbsp;&nbsp;&nbsp;<U>Binding Effect; Benefit; Assignment</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;The provisions of this Agreement shall be binding upon and shall inure to the benefit of the Parties and their
respective successors and assigns. Except with respect to <U>Article VII</U>, no provision of this Agreement is intended to confer any rights, benefits, remedies, obligations or liabilities hereunder upon any Person other than the Parties hereto and
their respective successors and assigns. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;No party may assign, delegate or otherwise transfer any of its rights
or obligations under this Agreement without the consent of each other party hereto. Any assignment in violation of this <U>Section&nbsp;9.07(b)</U> shall be null and void. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><A NAME="exctoc421570_77"></A>Section&nbsp;9.08&nbsp;&nbsp;&nbsp;&nbsp;<U>Counterparts; Effectiveness</U>.<I> </I>This Agreement may be signed
in any number of counterparts, each of which shall be an original, with the same effect as if the signatures thereto and hereto were upon the same instrument. This Agreement shall become effective when each Party hereto shall have received a
counterpart hereof signed by all of the other Parties hereto. Until and unless each Party has received a counterpart hereof signed by the other Party hereto, this Agreement shall have no effect and no Party shall have any right or obligation
hereunder (whether by virtue of any other oral or written agreement or other communication). The exchange of a fully executed Agreement (in counterparts or otherwise) by electronic transmission in .PDF format or by facsimile shall be sufficient to
bind the Parties to the terms and conditions of this Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><A NAME="exctoc421570_78"></A>Section&nbsp;9.09&nbsp;&nbsp;&nbsp;&nbsp;<U>Entire Agreement</U>.<I> </I>This Agreement constitutes the entire
agreement between the Parties with respect to the subject matter of this Agreement and supersedes all prior agreements and understandings, both oral and written, between the Parties with respect to the subject matter of this Agreement. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">42 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;9.10&nbsp;&nbsp;&nbsp;&nbsp;<U>Severability</U>.<I> </I>If any term, provision,
covenant or restriction of this Agreement is held by a court of competent jurisdiction or other Governmental Authority to be invalid, void or unenforceable, the remainder of the terms, provisions, covenants and restrictions of this Agreement shall
remain in full force and effect and shall in no way be affected, impaired or invalidated so long as the economic or legal substance of the transactions contemplated hereby is not affected in any manner materially adverse to any party. Upon such a
determination, the Parties shall negotiate in good faith to modify this Agreement so as to effect the original intent of the Parties as closely as possible in an acceptable manner in order that the transactions contemplated hereby be consummated as
originally contemplated to the fullest extent possible. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[Signature Page Follows] </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">43 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">IN WITNESS WHEREOF, the Parties have executed or have caused this Agreement to be duly executed by their
respective authorized officers as of the date first written above. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="12%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="87%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>The9 Limited</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ George Lai</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">George Lai</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Chief Financial Officer</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>Incsight Limited</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Jun Zhu</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Jun Zhu</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Director</TD></TR>
</TABLE></DIV>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>APPENDIX I </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>JOINDER AGREEMENT</U> </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This Joinder Agreement (this &#147;<U>Joinder Agreement</U>&#148;) is made as of the date written below by [<I>insert name of Purchaser
Designated Person</I>] (the &#147;<U>Joining Party</U>&#148;) and Incsight Limited, in accordance with the Share Purchase Agreement dated June&nbsp;7, 2017 (as amended, amended and restated or otherwise modified from time to time, the
&#147;<U>Agreement</U>&#148;) by and among The9 Limited, an exempted company with limited liability incorporated under the Laws of the Cayman Islands (the &#147;<U>Company</U>&#148;), and Incsight Limited, a company incorporated under the Laws of
the British Virgin Islands. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Capitalized terms used, but not defined, herein shall have the meaning ascribed to such terms in the
Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Joining Party hereby acknowledges, agrees and confirms that, by its execution of this Joinder Agreement, the Joining Party
shall be deemed to be a party to the Agreement as of the date hereof and shall have all of the rights and obligations of the &#147;Purchaser&#148; and a &#147;Holder&#148; thereunder as if it had executed the Agreement. The Joining Party hereby
ratifies, as of the date hereof, and agrees to be bound by, all of the terms, provisions and conditions contained in the Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">IN
WITNESS WHEREOF, the undersigned has executed this Joinder Agreement as of the date written below. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Date:
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
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<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="86%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom" COLSPAN="3">[Insert name of Purchaser Designated Person]</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">By:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">Name:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">Title:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">Incsight Limited</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">By:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">Name:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">Title:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
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 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">I </P>

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