FORM OF SERIES A TERM SHEETEN.docx

FORM OF SERIES A TERM SHEETEN.docx

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FORMOFSERIESATERMSHEETEN

FORMOFSERIESATERMSHEET-EN

OfferingTerms

Company

Investor

            and/oritsaffiliates.

Founders

Investment

Amount

US$            intotal

Investment

Structure;

Securities

TheInvestorwillpurchasecertainnumberofSeriesAPreferredSharesnewlyissuedbytheCompanythatrepresent   %ofthesharecapitaloftheCompanyonafully-dilutedandas-convertedbasisimmediatelyfollowingtheconsummationofthetransactioncontemplatedhereby.

Valuation

Afully-dilutedpre-moneyvaluationofUS$      （includinganyandallsharesreservedundertheCompany’semployeestockoptionplan）andafully-dilutedpost-moneyvaluationof$   .ThecapitalizationtableoftheCompanyissetforthon  ScheduleII     attachedhereto.

BridgeLoan

LoanAmount

TheInvestorwillpurchasecertainconvertiblepromissorynote（the“Note”）withanaggregateprincipalamountofUS$      .

TermsofNote

ThekeytermsofeachNoteareasfollows:

1.Maturitydate:

      monthsaftertheclosingoftheNotefinancing（the“NoteClosing”）;

2.Interest:

simpleinterestof      %perannum（zerointerestiftheNoteisconvertedintoSeriesAPreferredShares）;interestincreasedto      %perannumuponoccurrenceofaneventofdefault;

3.Noprepaymentisallowed;

4.Security:

pledgeofnolessthan      %equityinterestheldbytheFoundersintheCompany[andtheDomesticCompany];FoundersandtheCompanyshallbejointlyandseverallyliablefortheobligationsundertheNote;

5.Conversion:

EachholderoftheNoteshallhavetheright（butnottheobligation）toconvertall（oranypartof）oftheoutstandingprincipalamountoftheNote（and,ifsoelectedbysuchholder,anyinterestaccruedthereon）intoSeriesAPreferredSharesupontheClosingatapershareconversionpriceequalto（i）      %ofthepersharepurchasepricefortheSeriesAPreferredShares（the“PerSharePrice”）iftheClosingisconsummatedwithin      daysoftheNoteClosing,or（ii）      %ofthePerSharePriceiftheClosingisconsummateduponorafterdays      oftheNoteClosing;

6.Customaryeventsofdefaultincludingcustomarycrossdefaultprovisions.

SharesPurchaseAgreement

RepresentationandWarrantie

TheGroupCompaniesandtheFounderswillmakecustomaryrepresentations,warranties,covenantsandindemnificationsonajointandseveralbasis.

Useof

Proceeds

Theproceedswillbeusedfor[productresearchanddevelopment,businessexpansion,andworkingcapital]andotherpurposesasagreedbytheInvestor.

Closing

Conditions

1.EstablishmentofanappropriatelegalandbusinessstructureacceptabletotheInvestorfortheCompany’soperations,including（i）theexecutionofasetofcustomaryControlDocuments（asdefinedbelow）and（ii）thedesignationofanInvestornomineetoholdupto      %equityinterestintheDomesticCompany;

2.Executionoflaborcontract,inventionassignment,confidentiality,non-competeandnon-solicitationagreementbytheFoundersandKeyEmployeesasagreedbytheInvestorwiththeapplicableGroupCompany;

3.ExecutionofdirectorindemnificationagreementbetweentheCompanyandthedirectorappointedbytheInvestor（the“InvestorDirector”）;

4.ExecutionofacustomarymanagementrightsletterinfavouroftheInvestor;

5.ApprovaloftransactionbytheInvestor’sinvestmentcommittee;

6.Completionofbusiness,finance,andlegalduediligencebytheInvestoranditsadvisorstotheirsatisfaction;

7.Allnecessaryapprovalsandconsentshavingbeenobtainedfromexistingshareholders,partiesandrelevantgovernmentauthorities;

8.Issuanceofrelevantlegalopinions;

9.Nomaterialadverseeffect;

10.Submissionofadetailedbusinessplanandbudgetforthe[twelvemonths]followingtheClosingwhichisacceptabletotheInvestor;

11.Executionofrelevanttransactiondocuments（includingwithoutlimitationShareholdersAgreement,MemorandumandArticlesandShareRestrictionAgreementetc.）andsatisfactionofconditionsprecedentcontainedtherein;

12.RepresentationsandwarrantiesoftheGroupCompaniesandtheFoundersbeingtrue,accurateandcompleteasoftheClosing;

13.OtherclosingconditionsidentifiedintheInvestors’duediligenceorotherwisegenerallyapplicabletosimilartransactions.

Covenants

TheCompanywillprovideongoingcovenantsto（i）complywiththeUSForeignCorruptPracticesAct,（ii）useofcommerciallyreasonableeffortstoavoidPFICstatusandminimizetheeffectsofCFCandPFICstatustotheextenteitheroccurs,（iii）complywithPRClawinallmaterialrespects,including,without

limitation,SAFECircular37andSAFECircular7,（iv）fileandrgisteranyequitypledgeascontemplatedbythetransactiondocumentswiththecompetentgovernmentalauthorities,and（v）takesuchotheractionsasmayreasonab