EX-10.5 5 filename5.htm

本文件中用方括號[****]標記的特定信息已根據1933年修正的《證券法》第601項之(B)(10)(IV)條例進行了排除，因爲這些信息既（I）不是重要內容，又（II）如果公開披露可能對註冊用戶造成競爭性危害。

展覽10.5

股權質押協議

本份股權質押協議（以下簡稱"本協議"）協議於2020年6月1日在中華人民共和國北京市訂立，由以下各方共同簽署：

甲方：北京（HX）Pony AI 科技有限公司（以下簡稱"質權人")

地址：海淀區香山路88號2層A029室

法定代表人：李恒宇

乙方：

(1)

許素萍

身份證號碼：[************]

(2)

LI Hengyu

ID編號：[************]

(3)

周君

身份證號碼: [************]

(4)

王浩軍

身份證號碼： [************]

(5)

樓天城

身份證號碼: [************]

(6)

劉柏聰

身份證號碼: [************]

(7)

唐鳳恒

身份證號碼: [************]

(8)

翟菁

身份證號碼：[************]

(以下統稱爲，合稱，"質押人")

派對 C: 北京（ZX）Pony.AI 科技有限公司。

地址：北京市海淀區北清路68號2號樓1層01室

法定代表人：李恒宇

D派對：香港小馬人工智能有限公司

地址：香港九龍長沙灣道788號羅氏商業廣場6樓603室

在本協議中，質權人、質押人、C方和D方以下分別稱爲"方"和集體稱爲"當事人".

鑑於：

出質人是中華人民共和國公民（以下簡稱""）中國。併合計擁有Party C全部股權。Party C是一家在中國北京設立的有限責任公司。Party C承認在此項下的質權人和出質人各自的權利和義務，並同意提供在質權登記方面的任何必要協助。

質權人是一家在北京註冊的外商獨資企業。質權人和C方於2020年6月1日簽署了獨家業務合作協議；

爲確保質押人收到由C方應付的所有款項，包括但不限於諮詢和服務費用，質押人特此將其持有的C方股權，作爲《獨家業務合作協議》下C方支付諮詢和服務費用的擔保。

定義

除非另有規定，在本協議中未另行指定的情況下，以下術語應具有以下含義：

1.1

"承諾"質押"指質押人根據本條款第2條向質押人設立的擔保利益，即質押人在權益利益的轉換、拍賣或出售價中優先支付的權利。

1.2

"公司股權“"應指出具體由出質人在甲方C中現在和未來合法持有的所有股權利益。

1.3

"承諾期限"代表本條款第3條所述的期限。

1.4

"業務合作協議「"」指的是2020年6月1日簽訂的《獨家業務合作協議》，該協議一方爲部分股東擔保人，另一方爲C方。

1.5

"違約事件「應當」指本協議第7條規定的任何情況。

1.6

"違約通知「指的是質權人根據本合同發出的通知宣告違約事件。」

承諾

2.1

作爲對C方所欠款項（包括但不限於根據《業務合作協議》應付予質押人的諮詢和服務費在指定到期日、提前還款或其他方式到期支付的全部款項，以下統稱爲""）的即時和完全支付和履行的抵押物，質押人特此向質權人質押100%的C方股權作爲首順位質押。擔保債務質押人特此向質權人質押C方質押人持有的全部股權，作爲對C方所欠款項（包括但不限於根據《業務合作協議》應付予質押人的諮詢和服務費在指定到期日、提前還款或其他方式到期支付的全部款項）的即時和完全支付和履行的抵押物。

2.2

在發生以下任何事件（以下簡稱爲"結算原因）時，基礎款項的價值應根據最近一次發生結算原因（以下簡稱"確定款項"):

(a)

根據相關條款，業務合作協議到期或被終止。

(b)

根據本協議第7條發生且未解決違約事件，導致抵押權人根據第7.3條向相關質押人發出違約通知；

(c)

質權人經適當調查合理認爲，出質人和/或C方已經破產或可能被宣告破產；或

(d)

在相關的中國法律下需要確定擔保債務的任何其他事件。

2.3

爲避免疑惑，結算事由發生日期應爲結算日期（以下簡稱“結算日）。質權人可以選擇在結算日期或之後按照第8條的規定處置質押物。

2.4

在抵押期內（如下所定義），抵押權人有權收取產生的股權的任何分紅派息或其他可分配利益。

承諾期限

3.1

質押自其在主管部門註冊和成立之日起生效用於工商業（以下簡稱”註冊機構「) 在C方所在的地方，以及此類質押的期限（以下簡稱」質押期限“) 要等到最後一天才能終止此類質押擔保的債務已支付或履行。雙方同意，在本協議執行後，質押人甲方應盡最大努力向登記機構申請股份質押設立登記根據《工商行政管理部門股份質押登記辦法》，註冊機構規定的程序的最早日期。雙方進一步商定，在三十 (30) 天內註冊局正式接受股份質押登記申請的日期及兩 (2) 個月內在本協議執行後，他們將完成股份質押登記的所有程序，獲得註冊由登記機關發出的通知，並使與股份質押有關的事項得到完整、準確的記錄在註冊局的股份質押登記冊中。

3.2

如果在承諾期內，C方未能支付業務合作協議項下的獨家諮詢或服務費用，或未能履行其他方面的義務，抵押權人有權利但非義務根據本協議的規定處置該抵押物。

Custody of Equity Records Subject to Pledge

4.1

During the Pledge Term specified herein, the Pledgors shall, within one week from the date of establishment of the registration of the Pledge, place in the custody of the Pledgee the original certificates of equity contribution and the register of shareholders recording the Pledge (and such other documents as the Pledgee may reasonably request, including but not limited to the notice of registration of the Pledge issued by the competent administration for industry and commerce). The Pledgee shall keep such items in its custody throughout the Pledge Term as specified herein.

4.2

During the Pledge Term, the Pledgee shall be entitled to receive the dividends arising from the Equity Interests.

Representations and Warranties of the Pledgors and Party C

Each Pledgor represents and warrants to the Pledgee that:

5.1

The Pledgor is the sole legal and beneficial owner of the Equity Interests and has legal, complete and full ownership in the Equity Interests, except subject to a separate agreement between the Pledgor and the Pledgee.

5.2

The Pledgee shall have the right to dispose of and transfer the Equity Interests in accordance with the provisions set forth herein.

5.3

The Pledgor has not created any security interest or other encumbrance on the Equity Interests other than the Pledge, the Equity Interests are not subject to any dispute as to ownership, are not subject to attachment or other legal proceedings or similar threats, and are available for pledge and transfer in accordance with applicable law.

5.4

The execution of this Agreement by the Pledgor and the exercise of its rights hereunder, or the performance of its obligations hereunder, will not violate any law, regulation, any agreement or contract to which the Pledgor is a party, or any undertaking made by the Pledgor to any third party.

5.5

All the documents, information, statements and vouchers provided by the Pledgor to the Pledgee are accurate, true, complete and valid.

Party C represents and warrants to the Pledgee that:

5.6

Party C is a limited liability company duly incorporated and validly existing under the laws of the PRC with independent legal personality; it has full and independent legal status and legal capacity to enter into, deliver and perform this Agreement.

5.7

This Agreement, once duly executed by Party C, shall constitute a legal, valid and binding obligation of Party C.

5.8

Party C has the full right and authority within Party C to enter into and deliver this Agreement and all other documents in connection with the transactions contemplated hereby, and it has the full right and authority to consummate the transactions contemplated hereby.

5.9

There is no material security interest or other encumbrance on the assets owned by Party C that may affect the rights and interests of the Pledgee in the Equity Interests (including, but not limited to, any transfer of any intellectual property rights of Party C or any asset with a value of RMB100,000 or above, or any encumbrance on the title or use rights attached to such assets).

5.10

No litigation, arbitration or other legal proceedings are pending or, to the knowledge of Party C, threatened in any court or arbitral tribunal against the Equity Interests, Party C or its assets, nor are there any administrative proceedings or administrative penalties pending or, to the knowledge of Party C, threatened in any governmental or administrative agency against the Equity Interests, Party C or its assets that would materially or adversely affect Party C's financial condition or the ability of the Pledgors to perform their obligations and security liabilities under this Agreement.

5.11

Party C hereby agrees to be jointly and severally liable to the Pledgee for the representations and warranties made by all or any of the Pledgors hereunder.

5.12

Party C hereby warrants to the Pledgee that the foregoing representations and warranties will be true and correct and will be fully complied with at all times and under all circumstances until the obligations hereunder are fully performed or the Secured Obligations are fully discharged.

Undertakings and Further Agreements of the Pledgors and Party C

Each Pledgor undertakes and further agrees that:

6.1

During the term hereof, the Pledgor hereby undertakes to the Pledgee that:

6.1.1

Except for the performance of the Exclusive Purchase Option Agreement entered into by the Pledgor, the Pledgee and Party C as of June 1, 2020, the Pledgor may not, without the prior written consent of the Pledgee, make or permit others to make any transfer of all or any part of the Equity Interests, create or permit to exist any security interest or other encumbrance over the Equity Interests that might affect the rights and interests of the Pledgee in the Equity Interests;

6.1.2

The Pledgor shall comply with the provisions of all laws and regulations applicable to the pledge of rights and shall, within five days upon receipt of any notice, order or recommendation issued or made by the competent authority (or any other party concerned) in respect of the Pledge, present the said notice, order or recommendation to the Pledgee and shall comply with such notice, order or recommendation or make such objections and representations in respect thereof as the Pledgee may reasonably request or with the consent of the Pledgee;

6.1.3

The Pledgor shall immediately notify the Pledgee of any event or notice received by the Pledgor which may have an effect on the Pledgee's rights in the Equity Interests or any part thereof, and any event or notice received by the Pledgor which may have an effect on any warranties and other obligations of the Pledgor arising hereunder.

6.2

The Pledgor agrees that the rights of the Pledgee acquired hereunder in respect of the Pledge shall not be interrupted or jeopardized by legal proceedings instituted by the Pledgor or any successor or representative of the Pledgor or any other person.

6.3

In order to protect or perfect the security interest granted hereunder for the payment of consulting and service fees under the Business Cooperation Agreement, and for the performance of the Business Cooperation Agreement, the Pledgor hereby undertakes to execute and cause other parties interested in the Pledge to execute in good faith all certificates, agreements, deeds and/or undertakings required by the Pledgee. The Pledgor also undertakes to carry out and cause other parties interested in the Pledge to carry out the acts required by the Pledgee, in furtherance of the exercise by the Pledgee of its rights and authority granted to it hereunder, and to execute all relevant documents concerning the ownership of the Equity Interests with the Pledgee or the Pledgee's designee (natural/legal person). The Pledgor undertakes to provide the Pledgee, within a reasonable period of time, with all notices, orders and decisions requested by the Pledgee in connection with the Pledge.

6.4

The Pledgor hereby undertakes to the Pledgee that he/she will observe and perform all warranties, undertakings, agreements, representations and conditions hereunder. If the Pledgor fails to perform or partially performs its warranties, undertakings, agreements, representations and conditions, the Pledgor shall indemnify the Pledgee for all losses arising therefrom.

6.5

If the Equity Interests pledged hereunder are subject to any enforcement measures imposed by a court or any other governmental authority for any reason whatsoever, the Pledgor shall use all his/her efforts, including (but not limited to) providing additional assurances to the court or taking other measures, to discharge such enforcement measures imposed on the Equity Interests by such court or other authority.

6.6

If there is any possibility that the value of the Equity Interests may decrease to such an extent as to jeopardize the rights of the Pledgee, the Pledgee may require the Pledgor to provide additional security or guarantee. Should the Pledgor fail to do so, the Pledgee may at any time auction or sell off the Equity Interests and apply the proceeds therefrom towards the early settlement of the Secured Obligations or deposit the same; any expenses arising therefrom shall be borne solely by the Pledgor.

6.7

Without the prior written consent of the Pledgee, the Pledgor and/or Party C may not, on its own (or help others), increase, reduce, transfer or encumber the registered capital of Party C (or his/her capital contribution to Party C), including the Equity Interests. Subject to compliance with this provision, the Equity Interests registered and acquired by the Pledgor in Party C after the date hereof shall be referred to as "Additional Equity Interests". The Pledgor and Party C shall enter into a supplementary share pledge agreement with the Pledgee in respect of the Additional Equity Interests immediately upon the acquisition of such Additional Equity Interests by the Pledgor, and shall cause the board of directors and the shareholders' meeting of Party C to approve such supplementary share pledge agreement, and shall submit to the Pledgee all the documents required for the supplementary share pledge agreement, including but not limited to: (a) the original shareholder capital contribution certificate issued by Party C in respect of the Additional Equity Interests; and (b) a certified copy of the capital verification report issued by a PRC certified public accountant in respect of the Additional Equity Interests. The Pledgor and Party C shall register the establishment of the pledge of the Additional Equity Interest in accordance with the provisions of Article 3.1 hereof.

6.8

Unless the Pledgee gives prior written instructions to the contrary, the Pledgor and/or Party C agrees that in the event of a transfer of part or all of the shares between the Pledgor and any third party (hereinafter referred to as the "Share Transferee") in breach of this Agreement, the Pledgor and/or Party C shall ensure that the Share Transferee unconditionally acknowledges the Pledge, and shall perform the necessary procedures for registration of the change of pledge (including but not limited to executing the relevant documents) in order to ensure the survival of the Pledge.

6.9

If the Pledgee provides a further loan to Party C, the Pledgor and/or Party C agrees to pledge the Equity Interests to grant a pledge to the Pledgee to secure such further loan and to perform the relevant procedures as soon as possible as required by laws, regulations or local practices (if any), including but not limited to the executing relevant documents and completing the relevant procedures for registration of the establishment (or change) of the pledge.

Party C undertakes and further agrees that:

6.10

If the consent, permission, waiver, authorization of any third party or the approval, license, waiver of or registration or filing with any governmental authority (if required by law) is required in connection with the execution and performance of this Agreement and the pledge of Equity Interests hereunder, Party C will endeavor to assist in obtaining and keeping the same in full force and effect during the term hereof.

6.11

Without the prior written consent of the Pledgee, Party C will not assist or allow the Pledgor to create any new pledge or grant any other security interest over the Equity Interests, nor will it assist or allow the Pledgor to transfer the Equity Interests.

6.12

Party C agrees to strictly comply with the obligations under Articles 6.7, 6.8 and 6.9 hereof together with the Pledgor.

6.13

Without the prior written consent of the Pledgee, Party C may not transfer its assets or create or permit to exist on Party C's assets any security interest or other encumbrances that may affect the rights and interests of the Pledgee in the Equity Interests (including but not limited to the transfer of any intellectual property rights of Party C or any asset with a value of RMB500,000 or above, or any encumbrances on title or use rights attached to such assets).

6.14

In the event of any legal proceedings, arbitration or other claims which may adversely affect Party C, the Equity Interests or the interests of the Pledgee under the series of cooperation agreements (including but not limited to the Business Cooperation Agreement) and this Agreement, Party C undertakes to notify the Pledgee in writing as soon as possible and in a timely manner and, upon the reasonable request of the Pledgee, to take all necessary measures to secure the Pledgee's pledge interest in the Equity Interests.

6.15

Party C shall not perform or permit any act or action that may adversely affect the Pledgee's interest under the series of cooperation agreements (including but not limited to the Business Cooperation Agreement) and this Agreement or the Equity Interests.

6.16

Party C will, within the first month of each calendar quarter, provide the Pledgee with financial statements of Party C for the previous calendar quarter, including but not limited to balance sheet, income statement and cash flow statement.

6.17

Party C undertakes to take all necessary measures and to execute all necessary documents to ensure the Pledgee's pledge interest in the Equity Interests and the exercise and realization of such interest, upon the reasonable request of the Pledgee.

6.18

In the event of any transfer of the Equity Interests as a result of the exercise of the Pledge hereunder, Party C undertakes to take all measures necessary to consummate such transfer.

Events of Default

7.1

Each of the following shall be deemed as an Event of Default:

7.1.1

Party C fails to pay in full the consulting and service fees payable under the Business Cooperation Agreement or fails to repay the loan, or breaches any of Party C's other obligations under such agreement;

7.1.2

Any representation or warranty made by the Pledgor in Article 5 hereof contains a material misrepresentation or error and/or the Pledgor breaches any warranty in Article 5 hereof;

7.1.3

The Pledgor and Party C fail to complete the registration of the pledge of the Equity Interests with the Registration Authority as set forth in Article 3.1;

7.1.4

The Pledgor and Party C breach any of the provisions set forth herein;

7.1.5

Except as expressly provided in Article 6.1.1, the Pledgor transfers or attempts to transfer or relinquish the pledged Equity Interests or assigns the pledged Equity Interests without the written consent of the Pledgee;

7.1.6

The Pledgor's own loans, warranties, indemnities, undertakings or other debt liabilities to any third party (1) are required to be repaid or performed in advance due to the Pledgor's default; or (2) are due but cannot be repaid or performed as scheduled;

7.1.7

Any approval, license, permit or authorization of a governmental authority that makes this Agreement enforceable, legal and effective is withdrawn, suspended, rendered invalid or materially altered;

7.1.8

The enactment of applicable law renders this Agreement illegal or renders the Pledgor unable to continue to perform his/her obligations hereunder;

7.1.9

There has been an adverse change in the property owned by the Pledgor which, in the opinion of the Pledgee, has affected the ability of the Pledgor to perform his/her obligations hereunder;

7.1.10

The successor or trustee of Party C may only partially perform or refuse to perform its payment obligations under the Business Cooperation Agreement; and

7.1.11

Any other circumstances where the Pledgor is or may be unable to exercise its rights in respect of the Pledge.

7.2

Upon becoming aware or discovering that any of the circumstances described in Article 7.1 or any event that may lead to such circumstances has occurred, the Pledgor shall immediately notify the Pledgee in writing accordingly.

7.3

Unless the Event of Default set forth in this Article 7.1 has been successfully resolved to the satisfaction of the Pledgee within thirty (30) days from the date of notice given by the Pledgee, the Pledgee may, at any time upon or after the occurrence of such Event of Default, give a Notice of Default to the Pledgor requiring the Pledgor to immediately pay all outstanding payments due and payable under the Business Cooperation Agreement and all other payments due and payable to the Pledgee, and/or to repay the loan and/or to dispose of the Pledge as provided in Article 8 hereof.

Exercise of Pledge

8.1

The Pledgor may not transfer the Pledge or his/her Equity Interests in Party C without the written consent of the Pledgee until the Business Cooperation Agreement is fully performed and the consulting and service fees stated therein are paid in full.

8.2

The Pledgee may give a Notice of Default to the Pledgor when exercising the Pledge.

8.3

Subject to the provisions of Article 7.3, the Pledgee may exercise the right to enforce the Pledge simultaneously with or at any time after the giving of a Notice of Default in accordance with Article 7.2. Once the Pledgee has elected to enforce the Pledge, the Pledgor shall cease to have any right or interest in relation to the Equity Interests.

8.4

In the event of a default, to the extent permitted by and in accordance with applicable law, the Pledgee shall be entitled to dispose of the pledged Equity Interests in accordance with law; if there is any balance remaining after the entire amount received by the Pledgee as a result of the exercise of its Pledge is applied towards the satisfaction of the Secured Obligations, such balance shall be paid to the Pledgor or to the person entitled to receive such amount (without interest).

8.5

When the Pledgee disposes of the Pledge in accordance with this Agreement, the Pledgor and Party C shall provide the necessary assistance to enable the Pledgee to enforce the Pledge in accordance with this Agreement.

8.6

All actual expenses, taxes and all legal fees incurred in connection with the creation of the pledge of the Equity Interests hereunder and the realization of the rights of the Pledgee shall be borne by the Pledgor, except where the law requires the Pledgee to bear such expenses.

Assignment

9.1

The Pledgor may not be entitled to assign or delegate its rights and obligations hereunder without the prior written consent of the Pledgee.

9.2

This Agreement shall be binding on the Pledgor and its successors and permitted assigns and shall be valid in respect of the Pledgee and each of its successors and assigns.

9.3

At any time, the Pledgee may assign any and all of its rights and obligations under the Business Cooperation Agreement to its designee (natural/legal person), in which case the assignee shall be entitled to and assume the rights and obligations of the Pledgee hereunder as if it were an original party hereto. When the Pledgee assigns its rights and obligations under the Business Cooperation Agreement, upon the request of the Pledgee, the Pledgor shall execute the relevant agreement or other documents in connection with such assignment.

9.4

In the event of a change of the Pledgee as a result of the assignment, upon the request of the Pledgee, the Pledgor shall enter into a new pledge agreement with the successor Pledgee on the same terms and conditions as this Agreement.

9.5

The Pledgor shall strictly comply with the provisions of this Agreement and other contracts executed jointly or severally by the Parties hereto or any of them, including the Exclusive Option Agreement and the Power of Attorney granted to the Pledgee, perform his/her obligations under this Agreement and other contracts and refrain from acts/omissions that may affect the validity and enforceability hereof and thereof. The Pledgor may not exercise any of his/her remaining rights with respect to the Equity Interests pledged hereunder except in accordance with the written instructions of the Pledgee.

10.

Termination

Upon full performance of the Business Cooperation Agreement and full payment of the consulting and service fees hereunder and upon termination of Party C's obligations under the Business Cooperation Agreement, this Agreement shall be terminated and the Pledgee shall cancel or terminate this Agreement as soon as reasonably practicable.

11.

Handling Charges and Other Expenses

All costs and actual expenses in connection with this Agreement, including but not limited to attorney's fees, cost of production, stamp duty and any other taxes and fees shall be borne by Party C. If the Pledgee is required by applicable law to bear certain relevant taxes and expenses, the Pledgor shall cause Party C to reimburse the Pledgee in full for the taxes and expenses already paid by it.

12.

Duty of Confidentiality

The Parties acknowledge that any oral or written information exchanged by them in connection with this Agreement is confidential. Each Party shall keep all such information confidential and may not disclose any such information to any third party without the written consent of the other Party, except (a) to the extent that such information is or becomes known to the public ( other than due to disclosure to the public by the receiving party); (b) to the extent that such disclosure is required by applicable law or the rules or regulations of any stock exchange; or (c) to the extent that such information is required to be disclosed by any Party to its legal counsel or financial advisor in connection with the transactions contemplated hereunder, where such legal counsel or financial advisor is also subject to obligations of confidentiality similar to those contained in this Article. Any disclosure of any confidential information by a person or body employed by any Party shall be deemed to be a disclosure of such confidential information by such Party, and such Party shall be legally liable for any breach of this Agreement. This Article shall survive termination of this Agreement for any reason whatsoever.

13.

Governing Law and Dispute Resolution

13.1

The execution, entry into force, interpretation and performance of this Agreement and the resolution of disputes hereunder shall be governed by the laws duly published and publicly available in the PRC. Matters not covered by the laws duly published and publicly available in the PRC shall be governed by international legal principles and practices.

13.2

若因解釋和履行本條款而引起爭議，各方應本著誠意協商解決爭議。若各方未能在任何一方要求通過協商解決爭議後的30天內就該爭議的解決達成一致意見，則任何一方可將該爭議提交中國國際經濟貿易仲裁委員會按照當時有效的仲裁規則進行仲裁解決。仲裁應在北京舉行，使用中文進行。仲裁裁決將對各方具有最終並具約束力。

13.3

如本協議的解釋和履行引發任何爭議，或者在任何爭議處於仲裁之情況下，各方應繼續行使其相應權利並履行其相應義務，除了有爭議的事項。

14.

通知

14.1

所有通知及其他通信在此要求或允許的情況下，應以手交或通過預付郵費的掛號郵件、商業快遞服務或傳真送達至該方的以下地址。每份通知的進一步確認應通過電子郵件發送。該通知被視為有效送達的日期應按以下方式確定：

14.1.1

如果通知通過個人送達、快遞服務或預付郵費的掛號郵件發送至指定的接收地址，則該通知應視為在發送或拒絕之日有效送達。

14.1.2

若通知透過傳真發送，則視為在成功傳送的日期有效送達（該日期應為自動產生的傳送確認訊息證明）。

14.2

為了通知的目的，各方的地址如下：

派對 A: 北京（HX）Pony AI 科技有限公司。

地址：北京市海淀區北清路68號2棟1樓01室

收件人：李恒宇

乙方：許素平、李亨宇、周俊、王浩軍、樓天成、劉博聰、唐鳳衡、翟京

派對 C: 北京（ZX）Pony.AI Technology Co.，有限公司。

地址：北京市海淀區北清路68號2幢1層01室

尊敬的李恆宇

Party D: 香港 Pon.ai 有限公司

地址：香港九龍長沙灣道788號法律商業廣場6樓603室

14.3

任何一方均可隨時通知對方依照本條款之規定更改接收通知的地址。

15.

已存在的協議

2017年12月27日Party A、Party B和Party C簽署的股份質押協議已被本協議取代，並自今日起終止。

16.

可分割性

若根據任何法律或規定，本協議的一項或多項條款被認定為無效、非法或不可強制執行，則不應影響其他保留條款的有效性、合法性或可執行性。雙方應善意協商並努力尋找替換該等無效、非法或不可強制執行條款的條款，該替換條款應根據法律所允許的最大程度而且符合雙方期望，該合法條款的經濟效果應盡可能與無效、非法或不可強制執行條款的效果相似。

17.

附件

本附件應構成本協議的不可或缺的一部分。

18.

有效性

18.1

本協議的任何修正、修改和補充應以書面形式進行，並經各方簽署或蓋章及如適用，完成政府登記手續後生效。

18.2

本協議以中文書寫，共製作十二（12）份副本，分別為每位擔保人各一（1）份、擔保人、C方及D方各一（1）份，以及一（1）份將提交給登記機構，皆具同等效力。

[本頁其餘部分故意留白]

為證明上述事宜，各方已使其經授權之代表於首段所寫日期簽署本股份質押協議。

派對 A: 北京（HX）Pony AI 科技有限公司。

公司印章：/s/ 北京 (HX) 小馬智行科技有限公司。

作者：	/s/ 李恒宇

名稱：	李恒宇

職位：	法定代表人

鑑此，各方已由其授權代表於上述日期簽署本《股權質押協議》。

乙方：	徐素萍		翟靜

	作者:	/s/ 徐素萍	By:	/s/ 翟靜

	周軍		王浩軍

	By:	／s/ 周俊	By:	／s/ 王浩軍

	樓天成		劉伯琮

	作者：	/s/ 樓天成	By:	/s/ 劉伯聰

	唐風衡

	By:	/s/ 唐風衡

	李恆宇

	By:	/s/ 李恒宇

茲證明，雙方已使本股份質押協議由其授權代表於上文首個日期簽署。

派對 C: 北京（ZX）Pony.AI Technology Co.，有限公司。

Company seal: /s/ Beijing (HX) Pony AI Technology Co., Ltd.

By:	/s/ LI Hengyu

Name:	LI Hengyu

Title:	Legal Representative

IN WITNESS WHEREOF, the Parties have caused this Share Pledge Agreement to be executed by their authorized representatives as of the date first above written.

Party D: 香港 Pon.ai 有限公司

作者：	/s/ 蒸朋

姓名:	蒸朋

職稱：	授權代表

本文件中某些信息已根據1933年證券法第601(B)(10)(IV)條款的S-k條例予以排除，標記為支架 [****]，因為這些信息既 (I) 不具重大性，又 (II) 公開披露後可能對註冊人造成競爭傷害。

股份质押协议的补充协议

這份贈與擔保協議補充協議（以下簡稱"協議）於2021年2月1日在中華人民共和國北京市由以下各方簽署：

甲方：北京（HX）小馬人工智能科技有限公司（以下簡稱為「质权人")

地址：北京市海澱區北青路81號1號樓17層和16層1701室

法定代表人：李恆宇

乙方：

(1)

徐素萍

ID號碼： [************]

(2)

李恒宇

ID號碼： [************]

(3)

周軍

證號： [************]

(4)

王浩鈞

ID號碼: [************]

(5)

樓天成

ID號碼: [************]

(6)

劉柏聰

證件號碼： [************]

(7)

唐風亨

身份證號碼： [************]

(8)

翟晶

ID no.: [************]

(hereinafter referred to as, collectively, the "Pledgors")

Party C: Beijing (ZX) Pony.AI Technology Co., Ltd.

Address: Room 1701, 17/F, and16/F, Building 1, Zone 1, 81 Beiqing Road, Haidian District, Beijing

Legal Representative: ZHANG Ning

Party D: 香港 Pon.ai 有限公司

地址：香港九龍長沙灣道788號法律商業廣場6樓603室

在本協議中，质押人、质押人、甲方C和乙方D以下分別被稱為“派對和集體稱為「"」各方".

鑒於：

兩方於2020年6月1日簽訂了股份質押協議（以下統稱為「原股份質押協議」）；

劉柏聰和王浩軍簽署了一份股權轉讓協議，根據該協議，劉柏聰將他在C公司的所有股權轉讓給唐豐恒。

雙方打算修訂原始股份擔保協議。

因此，雙方同意如下：

劉博琮將不再是原始質押協議的當事方，亦不再擁有原始質押協議下的任何權利或義務。

原始股權質押協議第2.1條規定，質押人質押的股權金額及其所擔保的債務金額如下所述：

名稱為擔保人	金額已獲得安全保障 Obligations (在 RMb 10,000)		金額抵押股權利益（以人民幣計） 10,000)
李恒宇		10		10
劉柏聰		500		500
樓天成		4900		4900
唐風亨		2590		2590
王浩鈞		500		500
徐素萍		500		500
翟晶		500		500
周軍		500		500

各方特此同意修改以下抵押人抵押的股權金額及其所擔保的債務金額：

名字設質人	金額抵押品負債（於人民幣10,000元）		金額押標的股權利益（人民幣計 10,000)
李恆宇		10		10
樓天成		4900		4900
唐風衡		2590		2590
王浩軍		1000		1000
徐素萍		500		500
翟靜		500		500
周軍		500		500

本協議是對原股份質押協議的修訂，任何未在此處同意的事項應遵守原股份質押協議。

本協議以中文撰寫，共製作十一（11）份，每位擔保人一（1）份，擔保人和乙方一（1）份，並將一（1）份提交給登記機關，所有份本具同等效力。

[本頁其餘部分故意留白]

在證人見證下，各方已經執行或使此補充協議共享質押協議由其授權代表於上述日期首次簽署。

北京（HX）小馬人工智能科技有限公司。

By:	/s/ 李恒宇

職稱：	法定代表人

北京（ZX）Pony.AI 科技有限公司。

By:	/s/ 張寧

職位：	法定代表人

敬請注意，雙方已經簽署或使這份股份質押協議的補充協議由其授權代表於上述日期首次執行。

徐素萍		樓天成

By:	/s/ 徐素萍	By:	/s/ 樓天成

周軍		王浩軍

By:	／s/ 周俊	By:	／s/ 王浩軍

劉伯琮		翟靜

By:	/s/ 劉伯聰	作者：	/s/ 翟靜

李恆宇		唐風衡

作者：	/s/ 李恒宇	作者：	/s/ 唐風衡

據此，各方已經執行或使本附議定書於上述日期由其授權代表執行。

香港小馬人工智能有限公司

By:	/s/ PENG Jun

職稱：	授權代表

股份质押协议的补充协议

這份贈與擔保協議補充協議（以下簡稱"協議根據2021年7月1日在中華人民共和國北京締結的以下各方：

甲方：北京（HX）小馬人工智能科技有限公司（以下簡稱為「质权人")

地址：北京市海澱區北青路81號1號樓17層和16層1701室

法定代表人：李恆宇

乙方：

(1)

徐素萍

身份證號碼： [************]

(2)

李恆宇

身份證號碼： [************]

(3)

周軍

身份證號碼： [************]

(4)

王浩軍

身份證號碼： [************]

(5)

樓天成

身份證號碼： [************]

(6)

唐風衡

身份證號碼： [************]

(7)

翟靜

身份證號碼： [************]

(以下簡稱為，合稱為，质押人")

Party C: Beijing (ZX) Pony.AI Technology Co., Ltd.

Address: Room 1701, 17/F, and16/F, Building 1, Zone 1, 81 Beiqing Road, Haidian District, Beijing

Legal Representative: ZHANG Ning

Party D: 香港 Pon.ai 有限公司

地址：香港九龍長沙灣道788號法律商業廣場6樓603室

在本協議中，质押人、质押人、甲方C和乙方D以下分別被稱為“派對和集體稱為「"」各方".

而以下情況：

雙方於2020年6月1日簽署了股份質押協議，並於2021年2月1日簽署了一項補充協議（以下合稱為「原始股份質押協議」）。

ZHAI Jing與TANG Fengheng簽訂了一份股份轉讓協議，根據該協議，ZHAI Jing將她在C方的所有股權轉讓給TANG Fengheng。

各方意欲修訂原股權質押協議。

現在，因此，雙方同意如下：

ZHAI Jing 將不再是原始質押協議的當事方，並且將不再具有任何權利或義務於原始質押協議下。

原始股權質押協議第2.1條規定，質押人質押的股權金額及其所擔保的債務金額如下所述：

名字設質人	金額抵押品負債（於人民幣10,000元）		數量押標的股權利益（人民幣計 10,000)
李恆宇		10		10
樓天成		4900		4900
唐風衡		2590		2590
王浩軍		1000		1000
徐素萍		500		500
翟靜		500		500
周軍		500		500

各方特此同意修改以下抵押人抵押的股權金額及其所擔保的債務金額：

名字設質人	金額抵押品負債（於人民幣10,000元）		金額押標的股權利益（人民幣計 10,000)
李恆宇		10		10
樓天成		4900		4900
唐風衡		3090		3090
王浩軍		1000		1000
徐素萍		500		500
周軍		500		500

本協議是對原股份質押協議的修訂，任何未在此處同意的事項應遵守原股份質押協議。

本協議以中文撰寫，共製作十一（11）份，每位擔保人一（1）份，擔保人和乙方一（1）份，並將一（1）份提交給登記機關，所有份本具同等效力。

[本頁的其餘部分是故意的留空]

在證人見證下，各方已經執行或使此補充協議共享質押協議由其授權代表於上述日期首次簽署。

北京（HX）小馬人工智能科技有限公司。

By:	/s/ 李恒宇

職位：	法定代表人

北京（ZX）Pony.AI 科技有限公司。

作者：	張寧

職位：	法定代表人

敬請注意，雙方已經簽署或使這份股份質押協議的補充協議由其授權代表於上述日期首次執行。

徐素萍		樓天成

By:	/s/ 許素萍	作者：	/s/ 樓天成

周軍		王浩軍

By:	／s/ 周俊	作者:	／s/ 王浩軍

唐風衡		翟靜

作者:	/s/ 唐風衡	作者：	/s/ 翟靜

李恆宇

作者：	/s/ 李恒宇

敬請注意，雙方已經簽署或使這份股份質押協議的補充協議由其授權代表於上述日期首次執行。

香港小馬人工智能有限公司

By:	/s/ PENG Jun

職位：	授權代表