Declaration-of-Trust(委托持股协议)

DECLARATIONOFTRUSTThisDeclarationofTrust(Declaration)isenteredintoonthisdayof[],2003inBeijingbyandbetween:[],acompanyincorporatedandvalidlyexistingunderthelawsof[],asthegrantor/beneficiary,withitsprincipalbusinessaddressat[](“PartyA”);andMr./Ms.[],acitizenofthePeople’sRepublicofChina(“PRC”),withhis/herPRCidentitycardnumberof[],asthetrustee(PartyB).(PartyAandPartyB,collectivelyreferredtoas“Parties”andindividuallya“Party”.)WHEREAS,BeijingIvyNetworkTechnologyCo.,Ltd.(“Company”)isalimitedliabilitycompanyregisteredinthePRCandprovidingInternetinformationservices;WHEREAS,PartyBisacitizenofthePRC;WHEREAS,PartyAintendstoentrustPartyBtoserveasatrusteeinholding[]%equityintheCompany,andPartyBagreestoholdthis[]%equityoftheCompany,onbehalfofandforthebenefitsofPartyA.THEREFORE,forvaluableconsiderationsthesufficiencyofwhichthePartiesherebyacknowledged,thePartiesreachedagreementasfollows:1.TitleHolder.PartyBacknowledgesthatthecapitalcontributionmadein[cash]inamountof[]totheregisteredcapitaloftheCompany,representing[]%oftheregisteredcapitaloftheCompany(“Equity”),waspaidupbyPartyAviaPartyBwhoactsonbehalfofandforthebenefitsofPartyA.PartyBherebyaffirmsthat,PartyAisandalwayswillbetheownerandtheexclusivebeneficiaryofanyandallthebenefitsassociatedwiththeEquity.2.DeclarationofTrust.PartyAherebygrantstoPartyB,andPartyBherebydeclaresthat(a)he/sheshallholdintrustasatrusteeofPartyAthelegaltitleoftheEquity;and(b)PartyAremainsthebeneficiaryoftheEquity,aswellasallthebenefitsandinterestsgeneratedfromsuchEquity,includingbutnotlimitedtoalldividends,bonusesandotherpaymentsaccruedortobeaccruedupontheEquity.23.LimitofTrust.PartyBherebyacknowledgesthathe/shewillexercisethepowersand/orrightsastheregisteredlegalowneroftheEquityaccordingtothewritteninstructionofPartyAandhe/sheshallnotexerciseanysuchpowerorrightwithoutthepriorwrittenapprovalofPartyA.TheParitiesagreethatPartyBshallnotbeheldliableforanylossordamagescausedtotheCompanyasaresultofhis/herexerciseofanypowersand/orrightsastheregisteredlegalowneroftheEquity,providedthatPartyBactsasatrusteeofPartyAinrelationtotheEquityinstrictcompliancewiththeprovisionsofthisDeclaration.4.ReimbursementbyPartyA.PartyAagreestoreimbursePartyBanyandallthecostsandexpenses(ifany)thatPartyBmayincurastheregisteredlegalowneroftheEquity,includingbutnotlimitedtogovernmentfees,taxesandothercostsandexpenseswhichmaybeincurredbyPartyAastheregisteredlegalowneroftheEquity.5.PaymenttoPartyB.PartyBagreesandundertakestopayPartyAoranypartydesignatedbyPartyAforthwithuponreceiptofanyandallincomeordistributions,includingbutnotlimitedtoanypaymentofdividends,bonusesandotherpaymentsdeclaredbytheCompanyandpayabletohim/herinhis/hercapacityastheregisteredlegalowneroftheEquity.6.TerminationbyPartyA.ThisDeclarationandthebeneficiaryandtrusteerelationshipcreatedhereinmaybeterminatedatanytimeatthesolediscretionofPartyA.Intheeventofsuchatermination,PartyBagreestocooperatefullyinthetransferofallEquitytoPartyAoranyotherpartydesignatedbyPartyA,includingbutnotlimitedto,enteringintoanequitytransferagreementandanyotherdocumentswhichmaybenecessarytoeffectsuchanequitytransferetc..Forthispurpose,upontheexecutionofthisDeclaration,PartyBwillexecutetheEquityTransferAgreementtheformofwhichissetforthinAppendixAwithoutbeingdated.PartyBagreesthatincaseofearlyterminationofthisDeclarationbyPartyA,PartyAmayfillintheblanksinanddatethisEquityTransferAgreement,andusethecompletedEquityTransferAgreementforpurposeoftheequitytransferunderthisClause6.7.TerminationbyPartyB.ThisDeclarationandthebeneficiaryandtrusteerelationshipcreatedhereinshallnotbeterminatedbyPartyBwithoutpriorwrittenconsentofPartyA.IntheeventofaterminationapprovedbyPartyA,PartyBagreestocooperatefullyinthetransferofallEquitytoPartyAoranyotherpartydesignatedbyPartyA,includingbutnotlimitedto,enteringintoanequitytransferagreementandanyotherdocumentswhichmaybenecessarytoeffectsuchanequitytransferetc..Forthispurpose,upontheexecutionofthis3Declaration,PartyBwillexecutetheEquityTransferAgreementtheformofwhichissetforthinAppendixAwithoutbeingdated.PartyBagreesthatincaseofearlyterminationofthisDeclarationbyPartyA,PartyAmayfillintheblanksinanddatethisEquityTransferAgreement,andusethecompletedEquityTransferAgreementforpurposeoftheequitytransferunderthisClause7.8.ConcurrentExecutionofIrrevocableProxy.ConcurrentlywiththeexecutionofthisDeclaration,PartyBagreestoexecuteanirrevocableproxy,substantiallyintheformattachedhereinasAppendixB,irrevocablyappointingPartyA’sattorneysashis/herauthorizedrepresentativeinhis/hernameandonhis/herbehalfto,amongotherthings,representhim/herattheshareholdersmeetingandtheboardofdirectorsoftheCompany,andexecuteanddeliverallsuchdocumentsanddoallsuchthingsasPartyAmightdoforanyandallpurposesinrelationtoCompanymatters.9.Relationship.BothPartiesagreeandconfirmthatPartyBisactingasanindependentcontractorinrenderingservicesasatrusteeunderthisDeclaration.NopartnershiporagencyrelationshipbetweenthePartiesisintended,orcreatedunderthisDeclaration.10.PartyB’sRepresentations.PartyBrepresentstoPartyAthatth