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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 UNDER
THE SECURITIES EXCHANGE ACT OF 1934
For the month of March 2010
Commission File Number: 001-33853
CTRIP.COM INTERNATIONAL, LTD.
99 Fu Quan Road
Shanghai 200335, Peoples Republic of China
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form
20-F or Form 40-F.
Form 20-F þ Form 40-F o
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by
Regulation S-T Rule 101(b)(1): o
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by
Regulation S-T Rule 101(b)(7): o
Indicate by check mark whether by furnishing the information contained in this Form, the registrant
is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the
Securities Exchange Act of 1934.
Yes o No þ
TABLE OF CONTENTS
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly
caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
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CTRIP.COM INTERNATIONAL, LTD.
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By |
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/s/ Jane Jie Sun
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Name |
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Jane Jie Sun |
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Title |
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Chief Financial Officer |
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Date: March 2, 2010
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This Report on Form 6-K and the document attached as an exhibit hereto are hereby incorporated by
reference into Ctrip.com International, Ltd. (the Registrant)s Registration Statement on Form
F-3 (Registration No. 333-165150) originally filed on March 2, 2010, as amended.
The
Registrant is filing a material document not previously filed.
EXHIBIT INDEX
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Exhibit No. |
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Description |
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99.1 |
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Form of Underwriting Agreement between the Registrant and Goldman Sachs (Asia) L.L.C. |
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exv99w1
Exhibit 99.1
Ctrip.com International, Ltd.
5,700,000
American Depositary Shares
representing 1,425,000 Ordinary Shares
(par value $0.01 per share)
Underwriting Agreement
March , 2010
Goldman Sachs (Asia) L.L.C.
68th Floor, Cheung Kong Center,
2 Queens Road Central, Hong Kong
Ladies and Gentlemen:
Ctrip.com International, Ltd., an exempted company limited by shares under the laws of Cayman
Islands (the Company), proposes, subject to the terms and conditions stated herein, to issue and
sell to Goldman Sachs (Asia) L.L.C. (the Underwriter) an
aggregate of 5,700,000 American depositary
shares (the ADS) representing 1,425,000 ordinary shares, par value $0.01 per share (the Ordinary
Shares), of the Company and, at the election of the
Underwriter, up to 855,000 additional ADSs
representing 213,750 additional Ordinary Shares. The aggregate of
5,700,000 ADSs representing 1,425,000
Ordinary Shares to be sold by the Company is herein called the Firm ADSs, and the aggregate of
855,000 additional ADSs representing 213,750 additional Ordinary Shares to be sold by the Company is herein
called the Optional ADSs. The Firm ADSs and the Optional ADSs that the Underwriter elects to
purchase pursuant to Section 2 hereof are collectively called the Offered ADSs. The Ordinary
Shares represented by the Firm ADSs are hereinafter called the Firm Shares and the Ordinary
Shares represented by the Optional ADSs are hereinafter called the Optional Shares, and the Firm
Shares and the Optional Shares are herein collectively called the Offered Shares. The Offered
ADSs and the Offered Shares are collectively called the Securities.
The Offered ADSs are to be issued pursuant to a deposit agreement , dated as of December 8,
2003, as last amended and restated as of December 3, 2007 (the Deposit Agreement), among the
Company, The Bank of New York Mellon, as depositary (the Depositary), and holders from time to
time of the ADSs issued thereunder. Each ADS will initially represent the right to receive 0.25 of
an Ordinary Share deposited pursuant to the Deposit Agreement.
1. The Company represents and warrants to, and agrees with, the Underwriter that:
1
(a) An automatic shelf registration statement as defined under Rule 405 under the
Securities Act of 1933, as amended (the Act) on Form F-3 (File No. 333- ) in respect
of the Securities, has been filed with the Securities and Exchange Commission (the
Commission) not earlier than three years prior to the date hereof; such registration
statement, and any post-effective amendment thereto, became effective on filing; and no
stop order suspending the effectiveness of such registration statement or any part thereof
has been issued and no proceeding for that purpose has been initiated or, to the Companys
best knowledge, threatened by the Commission, and no notice of objection of the Commission
to the use of such registration statement or any post-effective amendment thereto pursuant
to Rule 401(g)(2) under the Act has been received by the Company (the base prospectus filed
as part of such registration statement, in the form in which it has most recently been
filed with the Commission on or prior to the date of this Agreement, is hereinafter called
the Base Prospectus; any preliminary prospectus (including any preliminary prospectus
supplement) relating to the Securities filed with the Commission pursuant to Rule 424(b)
under the Act is hereinafter called a Preliminary Prospectus; the various parts of such
registration statement, including all exhibits thereto but excluding Form T-1 and including
any prospectus supplement relating to the Securities that is filed with the Commission and
deemed by virtue of Rule 430B to be part of such registration statement, each as amended at
the time such part of the registration statement became effective, are hereinafter
collectively called the Registration Statement; the Base Prospectus, as amended and
supplemented immediately prior to the Applicable Time (as defined in Section 1(c) hereof),
is hereinafter called the Pricing Prospectus; the form of the final prospectus relating
to the Securities filed with the Commission pursuant to Rule 424(b) under the Act in
accordance with Section 5(a) hereof is hereinafter called the Prospectus; any reference
herein to the Base Prospectus, the Pricing Prospectus, any Preliminary Prospectus or the
Prospectus shall be deemed to refer to and include the documents incorporated by reference
therein pursuant to Item 6 of Form F-3 under the Act, as of the date of such prospectus;
any reference to any amendment or supplement to the Base Prospectus, any Preliminary
Prospectus or the Prospectus shall be deemed to refer to and include any post-effective
amendment to the Registration Statement, any prospectus supplement relating to the
Securities filed with the Commission pursuant to Rule 424(b) under the Act and any
documents filed under the Securities Exchange Act of 1934, as amended (the Exchange Act),
and incorporated therein, in each case after the date of the Base Prospectus, such
Preliminary Prospectus, or the Prospectus, as the case may be; any reference to any
amendment to the Registration Statement shall be deemed to refer to and include any annual
report of the Company filed pursuant to Section 13(a) or 15(d) of the Exchange Act after
the effective date of the Registration Statement that is incorporated by reference in the
Registration Statement; and any issuer free writing prospectus as defined in Rule 433
under the Act relating to the Securities is hereinafter called an Issuer Free Writing
Prospectus; and any bona fide electronic roadshow as defined in Rule 433(h)(5) under the
Act that has been made available without restriction to any person is hereinafter called a
broadly available roadshow;
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(b) No order preventing or suspending the use of any Preliminary Prospectus or any
Issuer Free Writing Prospectus has been issued by the Commission, and each Preliminary
Prospectus, at the time of filing thereof, conformed in all material respects to the
requirements of the Act and the rules and regulations of the Commission thereunder, and did
not contain an 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, in the light of
the circumstances under which they were made, not misleading; provided, however, that this
representation and warranty shall not apply to any statements or omissions made in reliance
upon and in conformity with information furnished in writing to the Company by the
Underwriter expressly for use therein;
(c) For the purposes of this Agreement, the Applicable Time is p.m.
(Eastern time) on the date of this Agreement. The Pricing Prospectus, as supplemented by
those Issuer Free Writing Prospectuses and other documents listed in Schedule II(b) hereto,
taken together (the Pricing Disclosure Package) as of the Applicable Time, did not
include any untrue statement of a material fact or omit to state any material fact
necessary in order to make the statements therein, in the light of the circumstances under
which they were made, not misleading; and each Issuer Free Writing Prospectus listed on
Schedule II(a) hereto does not conflict with the information contained in the Registration
Statement, the Pricing Prospectus or the Prospectus and each such Issuer Free Writing
Prospectus, as supplemented by and taken together with the Pricing Prospectus as of the
Applicable Time, did not include any untrue statement of a material fact or omit to state
any material fact necessary in order to make the statements therein, in the light of the
circumstances under which they were made, not misleading; provided, however, that this
representation and warranty shall not apply to statements or omissions made in an Issuer
Free Writing Prospectus in reliance upon and in conformity with information furnished in
writing to the Company by the Underwriter expressly for use therein;
(d) The documents incorporated by reference in the Pricing Prospectus and the
Prospectus, when they became effective or were filed with the Commission, as the case may
be, conformed in all material respects to the requirements of the Act or the Exchange Act,
as applicable, and the rules and regulations of the Commission thereunder, and none of such
documents contained an untrue statement of a material fact or omitted to state a material
fact required to be stated therein or necessary to make the statements therein not
misleading; any further documents so filed and incorporated by reference in the Prospectus
or any further amendment or supplement thereto, when such documents become effective or are
filed with the Commission, as the case may be, will conform in all material respects to the
requirements of the Act or the Exchange Act, as applicable, and the rules and regulations
of the Commission thereunder and will not contain an 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; provided, however, that this representation and warranty
shall not apply to any statements or omissions made in reliance upon and in conformity with
information furnished in writing to the Company by the Underwriter expressly for use
therein; and no such documents were filed with
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the Commission since the Commissions close of business on the business day
immediately prior to the date of this Agreement and prior to the execution of this
Agreement, except as set forth on Schedule II(c) hereto;
(e) The Registration Statement conforms, and the Prospectus and any further amendments
or supplements to the Registration Statement and the Prospectus will conform, in all
material respects to the requirements of the Act and the rules and regulations of the
Commission thereunder and do not and will not, as of the applicable effective date as to
each part of the Registration Statement and as of the applicable filing date as to the
Prospectus and any amendment or supplement thereto, contain an 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; provided, however, that this representation
and warranty shall not apply to any statements or omissions made in reliance upon and in
conformity with information furnished in writing to the Company by the Underwriter
expressly for use therein;
(f) Registration statements on Form F-6 (File Nos. 333-145167 and 333-136221) in
respect of the Offered ADSs have been filed with the Commission; such registration
statements in the form heretofore delivered to the Underwriter and, excluding exhibits,
have become effective by the Commission in such form; no other document with respect to
such registration statements has heretofore been filed with the Commission; no stop order
suspending the effectiveness of such registration statements has been issued and, to the
Companys best knowledge, no proceeding for that purpose has been initiated or threatened
by the Commission (the various parts of such registration statements, including all
exhibits thereto, each as amended at the time such part of the registration statement
became effective, being hereinafter called the ADS Registration Statements); and each ADS
Registration Statement when it became effective conformed, and any further amendments
thereto will conform, in all material respects to the requirements of the Act and the rules
and regulations of the Commission thereunder, and did not, as of the applicable effective
date, contain an 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;
(g) Registration statements on Form 8-A (File Nos. 000-50483 and 001-33853) in respect
of the registration of the Offered Shares and Offered ADSs under the Exchange Act, have
been filed with the Commission; such registration statements in the form heretofore
delivered to the Underwriter, have become effective in such form; no other document with
respect to such registration statements has heretofore been filed with the Commission; no
stop order suspending the effectiveness of such registration statements has been issued and
no proceeding for that purpose has been initiated or, to the best of the Companys
knowledge, threatened by the Commission (the various parts of such registration statements,
including all exhibits thereto, each as amended at the time such part of the registration
statement became effective, being hereinafter called the Form 8-A Registration
Statements); and each Form 8-A Registration Statement when it became effective conformed,
and any further amendments
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thereto will conform, in all material respects to the requirements of the Exchange Act
and the rules and regulations of the Commission thereunder, and did not and will not, as of
the applicable effective date, contain an 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;
(h) Neither the Company nor any of its Subsidiaries (as defined in Section 1(k) below)
has sustained since the date of the latest audited financial statements included or
incorporated by reference in the Pricing Prospectus any material loss or interference with
its business from fire, explosion, flood or other calamity, whether or not covered by
insurance, or from any labor dispute or court or governmental action, order or decree,
otherwise than as set forth or contemplated in the Pricing Prospectus; and, since the
respective dates as of which information is given in the Registration Statement and the
Pricing Prospectus, there has not been any change in the share capital or long-term debt of
the Company, any of its Subsidiaries, or any material adverse change, or any development
involving a prospective material adverse change, in or affecting the general affairs,
management, financial position, shareholders equity or results of operations or prospects
of the Company and its Subsidiaries taken as a whole (a Material Adverse Effect),
otherwise than as set forth or contemplated in the Pricing Prospectus;
(i) Each of the Company and its Subsidiaries has good and valid title to all real
property and good and marketable title to all personal property owned by them, in each case
free and clear of all liens, encumbrances and defects except such as described in the
Pricing Prospectus or such as do not materially affect the value of such property and do
not interfere with the use made and proposed to be made of such property by the Company and
its Subsidiaries; and any real property and buildings held under lease by each of the
Company and its Subsidiaries are held by them under valid, subsisting and enforceable
leases with such exceptions as are not material and do not interfere with the use made and
proposed to be made of such property and buildings by the Company and its Subsidiaries,
except as described in the Pricing Prospectus;
(j) The Company and its Subsidiaries maintain insurance covering their respective
properties, operations, personnel and businesses as the Company reasonably deems adequate;
such insurance insures against such losses and risks to an extent which is, in accordance
with customary industry practice in the Peoples Republic of China (for the purpose of this
Agreement, excluding Hong Kong Special Administrative Region, Macau Special Administrative
Region and Taiwan, the PRC) and adequate to protect the Company and its Subsidiaries and
their respective businesses; all such insurance is fully in force on the date hereof and
will be fully in force at the time of purchase and each additional time of purchase, if
any; neither the Company nor any of its Subsidiaries has reason to believe that it will not
be able to renew any such insurance as and when such insurance expires;
(k) The Company has been duly incorporated and is validly existing as a corporation in
good standing under the laws of the Cayman Islands, with
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power and authority (corporate and other) to own, lease and operate its properties and
conduct its business as described in the Pricing Prospectus and has been duly qualified to
transact business and is in good standing in each jurisdiction in which the conduct of its
business or its ownership or leasing of property requires such qualification, or is subject
to no material liability or disability by reason of the failure to be so qualified in any
such jurisdiction; and each subsidiary and affiliated entities of the Company (as listed in
Schedule I hereto, collectively, the Subsidiaries) has been duly
incorporated or organized and is validly existing and in good standing under the laws of
its jurisdiction of incorporation or organization, with power and authority (corporate and
other) to own, lease and operate its properties and conduct its business as described in
the Pricing Prospectus, and has been duly qualified to transact business and is in good
standing in each jurisdiction in which the conduct of its business or its ownership or
leasing of property requires such qualification, or is subject to no material liability or
disability by reason of the failure to be so qualified in any such jurisdiction;
(l) All of the issued and outstanding capital stock or equity interest of the
Companys affiliated entities, included in Schedule I hereto (the VIEs) has been duly
authorized and validly issued, and is owned directly by a director, senior officer or
immediate family member of a senior officer of the Company, as the case may be, in the
amount set forth in the Companys Annual Report on Form 20-F for the financial year ended
December 31, 2009 (the Annual Report) as updated by the Pricing Prospectus, free and
clear of any security interest, mortgage, pledge, lien encumbrance, claim and equity other
than as set forth in the Pricing Prospectus;
(m) Each shareholder of the VIEs is a citizen of the Peoples Republic of China,
excluding Taiwan, Hong Kong SAR and Macau SAR, and no application is pending in any other
jurisdiction by him or her or on his or her behalf for naturalization or citizenship
thereof;
(n) The description of the corporate structure of the Company and the various
contracts between the Company and the Subsidiaries or shareholders of
the VIEs, or
among the Subsidiaries, as the case may be (each a Corporate Structure Contract and
collectively the Corporate Structure Contracts),
incorporated by reference in the Registration
Statement and as set forth in the Annual Report, as updated by the Pricing Prospectus, is
true and accurate in all material respects and nothing has been omitted from such
description which would make it misleading in any material respect. There is no other
agreement, contract or document relating to the corporate structure or the operation of the
Company and the Subsidiaries, to the extent material to the Company, not disclosed in
the Annual Report, as updated by the Pricing Prospectus;
(o) Neither the Company nor any of its Subsidiaries has sent or received any written
communication regarding termination of, or intent not to renew, any of the material
contracts or agreements specifically referred to or described in the Pricing Prospectus, or
specifically referred to or described in, or filed as an exhibit to, the Registration
Statement, and no such termination or non-
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renewal has been threatened by the Company, any of its Subsidiaries or, to the
Companys best knowledge after due inquiry, any other party to any such contract or
agreement;
(p) Each of the Company and its Subsidiaries has all necessary licenses, franchises,
concessions, consents, authorizations, approvals, orders, certificates and permits of and
from, and has made all declarations and filings with, all governmental agencies to own,
lease, license and use its properties, assets and conduct its business in the manner
described in the Pricing Prospectus, and such licenses, franchises, concessions, consents,
authorizations, approvals, orders, certificates or permits contain no material restrictions
or conditions not described in the Pricing Prospectus; neither the Company nor any of its
Subsidiaries has received any notice of proceedings relating to modifying, suspending or
revoking any such licenses, consents, authorizations, approvals, orders, certificates or
permits, and the Company and its Subsidiaries are in compliance with the provisions of all
such licenses, consents, authorizations, approvals, orders, certificates or permits, if the
subject of an unfavorable decision, ruling or finding would have a Material Adverse Effect
except as described in the Pricing Prospectus;
(q) Except as described in the Pricing Prospectus, neither the Company nor any of its
Subsidiaries is (A) in breach of or in default under any laws, regulations, rules, orders,
decrees, guidelines or notices of the PRC, Taiwan, the Cayman Islands, or Hong Kong, and
any other jurisdiction where it was incorporated or operates, (B) in breach of or in
default under any approval, consent, waiver, authorization, exemption, permission,
endorsement or license granted by any court or governmental agency or body of any stock
exchange authorities (Governmental Agency) in the PRC, Taiwan, the Cayman Islands or Hong
Kong or any other jurisdiction where it was incorporated or operates, (C) in violation of
its constitutive or organizational documents or (D) in default in the performance or
observance of any obligation, agreement, covenant or condition contained in any indenture,
mortgage, deed of trust, loan agreement, lease or other agreement or instrument to which it
is a party or by which it or any of its properties may be bound (except, in the case of
clauses (A), (B) and (D) for such breaches, violations or defaults that would not result in
a Material Adverse Effect);
(r) The Company has an authorized capitalization as set forth in the Pricing
Prospectus and all of the issued share capital of the Company have been duly and validly
authorized and issued and are fully paid and non-assessable and conform to the description
thereof contained in the Pricing Prospectus; and all of the issued share capital of each
Subsidiary of the Company have been duly and validly authorized and issued, are fully paid
and non-assessable and are owned directly or indirectly by the Company, free and clear of
all liens, encumbrances, equities or claims; other than as described in the Pricing
Prospectus, there are no outstanding securities convertible into or exchangeable for, or
warrants, rights or options to purchase from the Company, or obligations of the Company to
issue, Ordinary Shares, ADSs or any other class of share capital of the Company; the
Offered Shares, when issued and delivered against payment
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therefor, may be freely deposited by the Company with the Depositary or its nominee,
against issuance ADSs; the Offered ADSs, when issued and delivered against payment
therefor, will be freely transferable by the Company to or for the account of the
Underwriter thereof; and there are no restrictions on subsequent transfers of the Ordinary
Shares or the ADSs under the laws of the PRC, the Cayman Islands or the United States
except as described in the Pricing Prospectus;
(s) Except as described in the Pricing Prospectus, (A) no person has any preemptive
rights, resale rights, rights of first refusal or other rights to purchase any Ordinary
Shares, ADSs or any other share capital of or other equity interests in the Company or any
of its Subsidiaries and (B) no person has the right to act as an underwriter or as a
financial advisor to the Company in connection with the offer and sale of the Offered
Shares and the Offered ADSs;
(t) The Offered Shares and the Offered ADSs representing the Offered Shares, to be
sold by the Company to the Underwriter hereunder, have been duly and validly authorized
and, when issued and delivered against payment therefor as provided herein, will be duly
and validly issued and fully paid and non-assessable, whose features will conform to the
description of the ADSs and the Ordinary Shares contained in the Pricing Prospectus;
(u) Except as described in the Pricing Prospectus, there are no contracts, agreements
or understandings between the Company and any person granting such person the right to
require the Company to file a registration statement under the Act with respect to any
securities of the Company owned or to be owned by such person or to require the Company to
include such securities in the Securities registered pursuant to the Registration
Statement, the ADS Registration Statements or in any securities being registered pursuant
to any other registration statement filed by the Company under the Act;
(v) This Agreement has been duly authorized, executed and delivered by the Company;
(w) The Deposit Agreement has been duly authorized, executed and delivered by the
Company and, assuming due authorization, execution and delivery by the Depositary,
constitutes a valid and legally binding agreement of the Company, enforceable in accordance
with its terms, subject, as to enforceability, to bankruptcy, insolvency, reorganization
and similar laws of general applicability relating to or affecting creditors rights and to
general equity principles, and upon issuance by the Depositary of ADSs and the deposit of
Offered Shares in respect thereof in accordance with the provisions of the Deposit
Agreement, such ADSs will be duly and validly issued and the persons in whose names the
ADSs are registered will be entitled to the rights specified therein and in the Deposit
Agreement; and the Deposit Agreement and the ADSs conform in all material respects to the
descriptions thereof contained in the Pricing Prospectus;
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(x) All dividends and other distributions declared and payable on the Offered Shares
represented by the ADSs may under the current laws and regulations of the Cayman Islands be
paid to the Depositary in United States dollars and may be freely transferred out of the
Cayman Islands, and all such dividends and other distributions made to non-residents of the
Cayman Islands will not be subject to withholding or other taxes under the laws and
regulations of the Cayman Islands and are otherwise free and clear of any other tax,
withholding or deduction in the Cayman Islands and without the necessity of obtaining any
consents, approvals, authorizations, orders, registrations, clearances or qualifications of
or with any court or Governmental Agency having jurisdiction over the Company or any of its
Subsidiaries or any of their respective properties (hereinafter referred to as
Governmental Authorizations) in the Cayman Islands;
(y) Except as described in the Pricing Prospectus, all dividends and other
distributions declared and payable on the share capital of any of the Subsidiaries in the
PRC may under the current laws and regulations of the PRC be freely transferred out of the
PRC and may be paid in U.S. dollars, and all such dividends and other distributions will
not be subject to withholding or other taxes under the laws and regulations of the PRC and
are otherwise free and clear of any other tax, withholding or deduction in the PRC, and
without the necessity of obtaining any Governmental Authorization in the PRC;
(z) The issue and sale of the Offered Shares and Offered ADSs, the deposit of the
Offered Shares with the Depositary against issuance of the ADSs and the execution and
delivery of this Agreement and the compliance by the Company with this Agreement and the
Deposit Agreement and the consummation of the transactions herein contemplated will not (A)
conflict with or result in a breach or violation of any of the terms or provisions of, or
constitute a default under, or result in the creation or imposition of any lien, charge or
encumbrance upon any property or assets of the Company and any of its Subsidiaries pursuant
to, any indenture, mortgage, deed of trust, loan agreement or other agreement or instrument
to which the Company or any of its Subsidiaries is a party or by which the Company or any
of its Subsidiaries is bound or to which any of the property or assets of the Company or
any of its Subsidiaries is subject, and is material to the Company and its Subsidiaries,
taken as a whole, (B) result in any violation of the provisions of the constitutive or
organizational documents of the Company or any Subsidiary or (C) result in any violation of
any statute or any order, rule or regulation of any court or Governmental Agency having
jurisdiction over the Company or any of its Subsidiaries or any of their properties or
assets;
(aa) No consent, approval, authorization, order, registration or qualification of or
with any court or Governmental Agency is required for the issue and sale of the Offered
Shares or the Offered ADSs, for the deposit of the Offered Shares with the Depositary
against issuance of ADSs to be delivered or the consummation by the Company of the
transactions contemplated by this Agreement and the Deposit Agreement, except (A) the
registration under the Act of the Securities and (B) such Governmental Authorizations as
have been duly
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obtained and are in full force and effect and copies of which have been furnished to
the Underwriter;
(bb) The Offered ADSs have been approved for listing on the NASDAQ Global Select
Market;
(cc) Except as disclosed in the Pricing Prospectus, no stamp or other issuance or
transfer taxes or duties and no capital gains, income, withholding or other taxes are
payable by or on behalf of the Underwriter to the government of the PRC, the Cayman
Islands, Hong Kong or any political subdivision or taxing authority thereof or therein in
connection with: (A) the deposit with the Depositary of the Offered Shares by the Company
against the issuance of ADSs, (B) the sale and delivery by the Company of the Offered
Shares and Offered ADSs to or for the account of the Underwriter or (C) the sale and
delivery by the Underwriter of the Offered ADSs representing the Offered Shares to the
initial purchasers thereof in the manner contemplated by this Agreement;
(dd) Neither the Company nor any of its Subsidiaries or, to the Companys knowledge,
any of their respective directors, officers, affiliates or controlling persons has taken,
directly or indirectly, any action which was designed to or which has constituted or which
might reasonably be expected to cause or result in stabilization or manipulation of the
price of any security of the Company to facilitate the sale or resale of the Ordinary
Shares and ADSs;
(ee) Except as described in the Pricing Prospectus, the Company has not sold, issued
or distributed any Ordinary Shares or ADSs during the six-month period preceding the date
hereof, including any sales pursuant to Rule 144A, Regulation D Regulation S of under the
Act, other than shares issued pursuant to employee benefit plans, qualified stock option
plans or other employee compensation plans or pursuant to outstanding options, rights or
warrants;
(ff) The Section entitled Operating and Financial Review and Prospectus in the
Companys Annual Report, as updated by the Pricing Prospectus, accurately and fully
describes (a) accounting policies that the Company believes are the most important in the
portrayal of the Companys financial condition and results of operations and that require
managements most difficult, subjective of complex judgments (critical accounting
policies); (b) judgments and uncertainties affecting the application or critical
accounting policies; and (c) the likelihood that materially different amounts would be
reported under different conditions or using different assumptions and an explanation
thereof; The Companys management has reviewed and agreed with the selection, application
and disclosure of critical accounting policies and have consulted with its legal advisers
and independent accountants with regard to such disclosure in the Companys Annual Report,
as updated by the Pricing Prospectus;
(gg) The section entitled Operating and Financial Review and Prospectus-Liquidity and
Capital Resources in the Companys Annual Report, as updated by the Pricing Prospectus,
accurately and fully describes (a) all
-10-
material trends, demands, commitments, events, uncertainties and risks, and the
potential effects thereof, that the Company believes would materially affect liquidity and
are reasonably likely to occur, and (b) neither the Company nor any Subsidiary is engaged
in any transactions with, or have any obligations to, its unconsolidated entities (if any)
that are contractually limited to narrow activities that facilitate that transfer of or
access to assets by the Company or such Subsidiary, including, without limitation,
structured finance entities and special purpose entities, or otherwise engage in, or have
any obligations under, any off-balance sheet transactions or arrangements;
(hh) PricewaterhouseCoopers Zhong Tian CPAs Limited Company, who have certified the
financial statements incorporated by reference in the Registration
Statement, and have audited the Companys internal control over financial reporting as
required by the Act and the rules and regulations of the Commission thereunder and are
independent in accordance with the requirements of the U.S. Public Company Accounting
Oversight Board;
(ii) The audited financial statements incorporated by reference in the Registration
Statement and the Prospectus, together with the related schedules and notes, present fairly
in all material respects the financial position of the Company and its consolidated
Subsidiaries at the dates indicated and the statement of operations, shareholders equity
and cash flows of the Company and its consolidated Subsidiaries for the periods specified;
said financial statements have been prepared in conformity with accounting principals
generally accepted in the United States (US GAAP) applied on a consistent basis
throughout the periods involved.
(jj) The Company maintains a system of internal control over financial reporting (as
such term is defined in Rule 13a-15(f) under the Exchange Act) that complies with the
requirements of the Exchange Act and has been designed by the Companys principal executive
officer and principal financial officer, or under their supervision, to provide reasonable
assurance regarding the reliability of financial reporting and the preparation of financial
statements for external purposes in accordance with US GAAP. The Companys internal
control over financial reporting is effective and the Company is not aware of any material
weaknesses in its internal control over financial reporting;
(kk) Since the date of the latest audited financial statements included or
incorporated by reference in the Pricing Prospectus, there has been no change in the
Companys internal control over financial reporting that has materially affected, or is
reasonably likely to materially affect, the Companys internal control over financial
reporting;
(ll) The Company maintains disclosure controls and procedures (as such term is defined
in Rule 13a-15(e) under the Exchange Act) that comply with the requirements of the Exchange
Act; such disclosure controls and procedures have been designed to ensure that material
information relating to the Company and its Subsidiaries is made known to the Companys
principal executive officer
-11-
and principal financial officer by others within those entities; and such disclosure
controls and procedures are effective;
(mm) All tax returns required to be filed by the Company and each Subsidiary have been
filed, and all taxes and other assessments of a similar nature (whether imposed directly or
through withholding) including any interest, additions to tax or penalties applicable
thereto due or claimed to be due from such entities have been paid, other than those being
contested in good faith and for which adequate reserves have been provided; all local and
national PRC governmental tax waivers and other local and national PRC tax relief,
concession and preferential treatment claimed or obtained by the Company are valid, binding
and enforceable;
(nn) Other than as set forth in the Pricing Prospectus, there are no legal or
governmental proceedings (including, without limitation, governmental investigations or
inquiries) pending to which the Company or any of its Subsidiaries or the Companys
directors and executive officers is a party or of which any property of the Company or any
of its Subsidiaries is the subject which, if determined adversely to the Company or any of
its Subsidiaries, would have a Material Adverse Effect; or that are required to be
described in the Registration Statement, Pricing Prospectus and Prospectus and are not so
described; and, to the best of the Companys knowledge, no such proceedings are threatened
or contemplated by governmental authorities or threatened by others; there are no contacts
or documents which are required to be described in the Registration Statement and the
Pricing Prospectus or to be filed as exhibits to the Registration Statement which have not
be so described and filed as required;
(oo) The Company is not and, after giving effect to the offering and sale of the
Securities and the application of the proceeds thereof, will not be an investment
company, as such term is defined in the U.S. Investment Company Act of 1940, as amended
(the Investment Company Act);
(pp) At the time of filing the Registration Statement the Company was not and is not
an ineligible issuer, as defined under Rules 164, 405 and 433 under the Act; any free
writing prospectus that the Company is required to file pursuant to Rule 433(d) under the
Act has been, or will be, filed with the Commission in accordance with the requirements of
the Act and the applicable rules and regulations of the Commission thereunder. Each free
writing prospectus that the Company has filed, or is required to file, pursuant to Rule
433(d) under the Act or that was prepared by or behalf of or used or referred to by the
Company complies or will comply in all material respects with the requirements of the Act
and the applicable rules and regulations of the Commission thereunder. Except for the free
writing prospectuses and electronic road shows, if any, furnished to you before first use,
identified in Schedule II hereto, the Company has not prepared, used or referred to, and
will not, without your prior consent, prepare, use or refer to, any free writing
prospectus;
(qq) The Company does not expect to be a Passive Foreign Investment Company (PFIC)
within the meaning of Section 1297(a) of the
-12-
United States Internal Revenue Code of 1986, as amended for the taxable year ending
December 31, 2010, and no plan or intention to conduct its business in a manner that would
be reasonably expected to result in the Company becoming a PFIC in the future under current
laws and regulations;
(rr) The Company is a foreign private issuer within the meaning of Rule 405 under
the Act;
(ss) (i) At the time of filing the Registration Statement, (ii) at the time of the
most recent amendment thereto for the purposes of complying with Section 10(a)(3) of the
Act (whether such amendment was by post-effective amendment, incorporated report filed
pursuant to Section 13 or 15(d) of the Exchange Act or form of prospectus), and (iii) at
the time the Company or any person acting on its behalf (within the meaning, for this
clause only, of Rule 163(c) under the Act) made any offer relating to the Securities in
reliance on the exemption of Rule 163 under the Act, the Company was a well-known seasoned
issuer as defined in Rule 405 under the Act;
(tt) Each of this Agreement and the Deposit Agreement is in proper form to be
enforceable against the Company in the Cayman Islands in accordance with its terms; to
ensure the legality, validity, enforceability or admissibility into evidence in the Cayman
Islands of this Agreement or the Deposit Agreement, it is not necessary that this Agreement
or the Deposit Agreement be filed or recorded with any court or other authority in the
Cayman Islands;
(uu) The Registration Statement, Pricing Prospectus, Prospectus, any Issuer Free
Writing Prospectus, Form 8-A Registration Statements and ADS Registration Statements and
the filing of the Registration Statement, Pricing Prospectus, Prospectus, any Issuer Free
Writing Prospectus, Form 8-A Registration Statement and ADS Registration Statement with the
Commission have been duly authorized by and on behalf of the Company, and the Registration
Statement, Form 8-A Registration Statements and ADS Registration Statements have been duly
executed pursuant to such authorization by and on behalf of the Company, prior to their
respective filings with the Commission;
(vv) Each Preliminary Prospectus filed as part of the registration statement as
originally filed or as part of any amendment thereto, or filed pursuant to Rule 424 under
the Act, complied when so filed in all material respects with the Act and the applicable
rules and regulations of the Commission thereunder;
(ww) Except as described in the Pricing Prospectus, in each case, (A) each of the
Company and its Subsidiaries owns, possesses, licenses or has other rights to use all
patents and patent applications, copyrights, trademarks, service marks, trade names
(including the Ctrip and Ctrip.com names and logo), Internet domain names, technology,
and/or know-how (including trade secrets and other unpatented and/or unpatentable
proprietary rights) (collectively, Intellectual Property) that are necessary or used in
any material respect to
-13-
conduct their business in the manner in which it is being conducted and in the manner
in which it is contemplated as set forth in the Pricing Prospectus; (B) neither the Company
nor any of its Subsidiaries has received any notice or is otherwise aware of any
infringement, violation or conflict (if the subject of an unfavorable decision, ruling or
finding) would result in a Material Adverse Effect or of any facts or circumstances with
would render any Intellectual Property invalid or inadequate to protect the interest of the
Company or any of its Subsidiaries therein;
(xx) Neither the Company nor any of its Subsidiaries does business with the government
of Cuba or with any person or affiliate located in Cuba within the meaning of Section
517.075, Florida Statutes and the Company agrees to comply with such Section if prior to
the completion of the distribution of the Offered ADSs it commences doing such business.
None of the Company, any of its Subsidiaries or, to the knowledge of the Company, any
director, officer, agent, employee or affiliate of the Company or any of its Subsidiaries,
does any business with or involving the government of, or any person or project located in
and the proceeds from the offering of the Securities contemplated hereby will not be used
to fund any operations in, to finance any investments, projects or activities in, or to
make any payments to, any country, or to make any payments to, or finance any activities
with, any person targeted by any of such economic sanctions promulgated by any Executive
Order issued by the President of the United States or administered by the United States
Treasury Departments Office of Foreign Assets Control (the OFAC);
(yy) Except as described in the Pricing Prospectus, no material indebtedness (actual
or contingent) and no material contract or arrangement is outstanding between the Company
or any of its Subsidiaries and any director or executive officer of the Company or any of
its Subsidiaries or any person connected with such director or executive officer (including
his/her spouse, infant children, any company or undertaking in which he/she holds a
controlling interest); and there are no material relationships or transactions between the
Company or any of its Subsidiaries on the one hand and its affiliates, officers and
directors or their shareholders, customers or suppliers on the other hand except as
disclosed in the Pricing Prospectus;
(zz) No material labor dispute with the employees of the Company or any of its
Subsidiaries exists, except as described in the Pricing Prospectus, or, to the knowledge of
the Company, is imminent; and the Company is not aware of any existing, threatened or
imminent labor disturbance by the employees of any of its principal suppliers, service
providers or contractors that could have a Material Adverse Effect;
(aaa) No holder of any of the Offered Shares or the Offered ADSs after the
consummation of the transactions contemplated by this Agreement or the Deposit Agreement is
or will be subject to any personal liability in respect of any liability of the Company by
virtue only of its holding of any such Shares or ADSs; and except as set forth in the
Pricing Prospectus, there are no limitations on the
-14-
rights of holders of the Offered Shares or the Offered ADSs to hold, vote or transfer
their Securities;
(bbb) There are no contracts, agreements or understandings between the Company and any
person that would give rise to a valid claim against the Company or the Underwriter for a
brokerage commission, finders fee or other like payment in connection with the issuance
and sale of the Offered Shares and Offered ADSs;
(ccc) The choice of laws of the State of New York as the governing law of this
Agreement and the Deposit Agreement is a valid choice of law under the laws of the Cayman
Islands and the PRC and will be honored by courts in the Cayman Islands and, to the extent
permitted under the PRC civil law and rules of civil procedures, will be honored by the
courts in the PRC. The Company has the power to submit, and pursuant to Section 18 of this
Agreement, has legally, validly, effectively and irrevocably submitted, to the personal
jurisdiction of each United States federal court and New York state court located in the
Borough of Manhattan, in the City of New York, New York, U.S.A. (each, a New York Court),
and the Company has the power to designate, appoint and authorize, and pursuant to Section
18 of this Agreement, has legally, validly, effectively and irrevocably designated,
appointed an authorized agent for service of process in any action arising out of or
relating to this Agreement, the Deposit Agreement or the Offered ADSs in any New York
Court, and service of process effected on such authorized agent will be effective to confer
valid personal jurisdiction over the Company as provided in Section 18 hereof;
(ddd) Neither the Company, or any Subsidiary nor any of their respective properties,
assets or revenues has any right of immunity under Cayman Islands, PRC or New York law,
from any legal action, suit or proceeding, from the giving of any relief in any such legal
action, suit or proceeding, from set-off or counterclaim, from the jurisdiction of any
Cayman Islands, PRC, New York or U.S. federal court, from service of process, attachment
upon or prior to judgment, or attachment in aid of execution of judgment, or from execution
of a judgment, or other legal process or proceeding for the giving of any relief or for the
enforcement of a judgment, in any such court, with respect to its obligations, liabilities
or any other matter under or arising out of or in connection with this Agreement or the
Deposit Agreement; and, to the extent that the Company, or any Subsidiary or any of their
respective properties, assets, or revenues may have or may hereafter become entitled to any
such right of immunity in any such court in which proceedings may at any time be commenced,
each of the Company and its Subsidiaries waives or will waive such right to the extent
permitted by law and has consented to such relief and enforcement as provided in Section 18
of this Agreement;
(eee) Any final judgment for a fixed sum of money rendered by a New York Court having
jurisdiction under its own domestic laws in respect of any suit, action or proceeding
against the Company based upon this Agreement and the Deposit Agreement would be recognized
and enforced against the Company by Cayman Islands courts without re-examining the merits
of the case under the
-15-
common law doctrine of obligation; provided that (A) adequate service of process has
been effected and the defendant has had a reasonable opportunity to be heard, (B) such
judgments or the enforcement thereof are not contrary to the law, public policy, security
or sovereignty of the Cayman Islands, (C) such judgments were not obtained by fraudulent
means and do not conflict with any other valid judgment in the same matter between the same
parties, and (D) an action between the same parties in the same matter is not pending in
any Cayman Islands court at the time the lawsuit is instituted in the foreign court; it is
not necessary that this Agreement, the Deposit Agreement, the Prospectus or any other
document be filed or recorded with any court or other authority in the Cayman islands or
the PRC;
(fff) Neither the Company, any Subsidiary nor, to the Companys knowledge after due
inquiry, director, officer, agent, employee or other person associated with or acting on
behalf of the Company or any of its Subsidiary has, directly or indirectly, (A) used any
corporate funds for any unlawful contribution, gift, entertainment or other unlawful
expenses; (B) made any direct or indirect unlawful payment to any foreign or domestic
government official or employee from corporate funds; (C) violated any provision of the
United States Foreign Corrupt Practices Act of 1977; or (D) made any bribe, rebate,
payoff, influence payment, kickback or other unlawful payment;
(ggg) The Company and its Subsidiaries (i) are in compliance with any and all
applicable foreign, federal, state and local laws and regulations relating to the
protection of human health and safety, the environment or hazardous or toxic substances or
wastes, pollutants or contaminants (Environmental Laws), (ii) have received all permits,
licenses or other approvals required of them under applicable Environmental Laws to conduct
their respective businesses and (iii) are in compliance with all terms and conditions of
any such permit, license or approval, except where such noncompliance with Environmental
Laws, failure to receive required permits, licenses or other approvals or failure to comply
with the terms and conditions of such permits, licenses or approvals would not, singly or
in the aggregate, have a Material Adverse Effect; and
(hhh) There are no costs or liabilities associated with Environmental Laws (including,
without limitation, any capital or operating expenditures required for clean-up, closure of
properties or compliance with Environmental Laws or any permit, license or approval, any
related constraints on operating activities and any potential liabilities to third parties)
which would, singly or in the aggregate, have a Material Adverse Effect.
2. (a) Subject to the terms and conditions herein set forth, the Company agrees to issue and
sell to the Underwriter, and the Underwriter agrees, (a) to purchase from the Company, the Firm
ADSs at a purchase price of $ per ADS and (b) in the event and to the extent that the
Underwriter shall exercise the election to purchase Optional ADSs as provided below, the Company
agrees to issue and sell to the Underwriter, and the Underwriter agrees to purchase from the
Company the Optional Securities at the purchase price per ADS set forth in clause (a) of this
Section 2.
-16-
The
Company hereby grant to the Underwriter the right to purchase at
their election up to 855,000 Optional ADSs, at the purchase price per ADS set forth in the paragraph above, for the sole purpose
of covering sales of shares in excess of the number of Firm ADSs. Any such election to purchase
Optional ADSs may be exercised only by written notice from the Underwriter to the Company, given
within a period of 30 calendar days after the date of this Agreement, setting forth the aggregate
number of Optional ADSs to be purchased and the date on which such Optional ADSs are to be
delivered, as determined by the Underwriter but in no event earlier than the First Time of Delivery
(as defined in Section 4 hereof) or, unless the Underwriter and the Company otherwise agree in
writing, earlier than two or later than ten business days after the date of such notice.
3. Upon the authorization by you of the release of the ADSs, the Underwriter proposes to offer
the ADSs for sale upon the terms and conditions set forth in the Prospectus.
4. (a) The Securities to be purchased by the Underwriter hereunder, in such authorized
denominations and registered in such names as the Underwriter may request upon at least forty-eight
hours prior notice to the Company shall be delivered by or on behalf of the Company to the
Underwriter through the facilities of the Depository Trust Company (DTC), for the account of the
Underwriter, against payment by or on behalf of the Underwriter of the purchase price therefor by
wire transfer of Federal (same-day) funds to the account specified by the Company to the
Underwriter at least forty-eight hours in advance. The time and date of such delivery and payment
shall be, with respect to the Firm ADSs, 9:30 a.m., New York City time, on March , 2010 or
such other time and date as the Underwriter and the Company may agree upon in writing, and, with
respect to the Optional ADSs, 9:30 a.m., New York time, on the date specified by the Underwriter in
the written notice given by the Underwriter of the Underwriters election to purchase such Optional
ADSs, or such other time and date as the Underwriter and the Company may agree upon in writing.
Such time and date for delivery of the Firm ADSs is herein called the First Time of Delivery,
such time and date for delivery of the Optional ADSs, if not the First Time of Delivery, is herein
called the Second Time of Delivery, and each such time and date for delivery is herein called a
Time of Delivery.
(b) The documents to be delivered at each Time of Delivery by or on behalf of the parties
hereto pursuant to Section 8 hereof, including the cross-receipt for the Securities and any
additional documents requested by the Underwriter pursuant to Section 8 hereof, will be delivered
at the offices of Shearman & Sterling LLP, 12/F Gloucester Tower, The Landmark, 15 Queens Road
Central, Hong Kong (the Closing Location), and the Securities will be delivered at the Designated
Office, all at such Time of Delivery. A meeting will be held at the Closing Location at 4:00 p.m.,
Hong Kong time, on the New York Business Day next preceding such Time of Delivery, at which meeting
the final drafts of the documents to be delivered pursuant to the preceding sentence will be
available for review by the parties hereto. For the purposes of this Section 4, New York Business
Day shall mean each Monday, Tuesday, Wednesday, Thursday and Friday which is not a day on which
banking institutions in New York City are generally authorized or obligated by law or executive
order to close.
-17-
5. The Company agrees with the Underwriter:
(a) To prepare the Prospectus in a form approved by you and to file such Prospectus pursuant
to Rule 424(b) under the Act not later than the Commissions close of business on the second
business day following the execution and delivery of this Agreement; to make no further amendment
or any supplement to the Registration Statement, the Base Prospectus or the Prospectus prior to the
last Time of Delivery which shall be disapproved by you promptly after reasonable notice thereof;
to advise you, promptly after it receives notice thereof, of the time when any amendment to the
Registration Statement has been filed or becomes effective or any amendment or supplement to the
Prospectus has been filed and to furnish you with copies thereof; to file promptly all other
material required to be filed by the Company with the Commission pursuant to Rule 433(d) under the
Act; to advise you, promptly after it receives notice thereof, of the issuance by the Commission of
any stop order or of any order preventing or suspending the use of any Preliminary Prospectus or
other prospectus in respect of the Securities, of any notice of objection of the Commission to the
use of the Registration Statement or any post-effective amendment thereto pursuant to Rule
401(g)(2) under the Act, of the suspension of the qualification of the Securities for offering or
sale in any jurisdiction, of the initiation or, to the Companys best knowledge, threatening of any
proceeding for any such purpose, or of any request by the Commission for the amending or
supplementing of the Registration Statement or the Prospectus or for additional information; and,
in the event of the issuance of any stop order or of any order preventing or suspending the use of
any Preliminary Prospectus or other prospectus or suspending any such qualification, to promptly
use its best efforts to obtain the withdrawal of such order; and in the event of any such issuance
of a notice of objection, promptly to take such steps including, without limitation, amending the
Registration Statement or filing a new registration statement, at its own expense, as may be
necessary to permit offers and sales of the Securities by the Underwriter (references herein to the
Registration Statement shall include any such amendment or new registration statement);
(b) If required by Rule 430B(h) under the Act, to prepare a form of prospectus in a form
approved by you and to file such form of prospectus pursuant to Rule 424(b) under the Act not later
than may be required by Rule 424(b) under the Act; and to make no further amendment or supplement
to such form of prospectus which shall be disapproved by you promptly after reasonable notice
therereof;
(c) If by the third anniversary (the Renewal Deadline) of the initial effective date of the
Registration Statement, any of the Securities remain unsold by the Underwriter, the Company will
file, if it has not already done so and is eligible to do so, a new automatic shelf registration
statement relating to the Securities, in a form satisfactory to you. If at the Renewal Deadline
the Company is no longer eligible to file an automatic shelf registration statement, the Company
will, if it has not already done so, file a new shelf registration statement relating to the
Securities, in a form satisfactory to you and will use its best efforts to cause such registration
statement to be declared effective within 180 days after the Renewal Deadline. The Company will
take all other action necessary or appropriate to permit the public offering and sale of the
Securities to continue as contemplated in the expired registration statement relating to the
Securities. References herein to the Registration Statement shall include such new automatic shelf
registration statement or such new shelf registration statement, as the case may be;
-18-
(d) Promptly from time to time to take such action as you may reasonably request to qualify
the Securities for offering and sale under the securities laws of such jurisdictions as you may
request and to comply with such laws so as to permit the continuance of sales and dealings therein
in such jurisdictions for as long as may be necessary to complete the distribution of the
Securities, provided that in connection therewith the Company shall not be required to qualify as a
foreign corporation or to file a general consent to service of process in any jurisdiction;
(e) Prior to 10:00 a.m., New York City time, on the New York Business Day next succeeding the
date of this Agreement and from time to time, to furnish the Underwriter with written and
electronic copies of the Prospectus in New York City in such quantities as you may reasonably
request, and, if the delivery of a prospectus (or in lieu thereof, the notice referred to in Rule
173(a) under the Act) is required at any time prior to the expiration of nine months after the time
of issue of the Prospectus in connection with the offering or sale of the Securities and if at such
time any event shall have occurred as a result of which the Prospectus as then amended or
supplemented would include an untrue statement of a material fact or omit to state any material
fact necessary in order to make the statements therein, in the light of the circumstances under
which they were made when such Prospectus (or in lieu thereof, the notice referred to in Rule
173(a) under the Act) is delivered, not misleading, or, if for any other reason it shall be
necessary during such same period to amend or supplement the Prospectus or to file under the
Exchange Act any document incorporated by reference in the Prospectus in order to comply with the
Act or the Exchange Act, to notify you and upon your request to file such document and to prepare
and furnish without charge to Underwriter and to any dealer in securities as many written and
electronic copies as you may from time to time reasonably request of an amended Prospectus or a
supplement to the Prospectus which will correct such statement or omission or effect such
compliance; and in case the Underwriter is required to deliver a prospectus (or in lieu thereof,
the notice referred to in Rule 173(a) under the Act) in connection with sales of any of the
Securities at any time nine months or more after the time of issue of the Prospectus, upon your
request but at the expense of the Underwriter, to prepare and deliver to the Underwriter as many
written and electronic copies as you may request of an amended or supplemented Prospectus complying
with Section 10(a)(3) of the Act;
(f) To make generally available to its securityholders as soon as practicable, but in any
event not later than sixteen months after the effective date of the Registration Statement (as
defined in Rule 158(c) under the Act), an earnings statement of the Company and its Subsidiaries
(which need not be audited) complying with Section 11(a) of the Act and the rules and regulations
of the Commission thereunder (including, at the option of the Company, Rule 158);
(g) During the period beginning from the date hereof and continuing to and including the date
90 days after the date of the Prospectus, not to offer, sell, contract to sell, pledge, grant any
option to purchase, make any short sale or otherwise dispose, except as provided hereunder, of any
securities of the Company that are substantially similar to the Ordinary Shares or the ADSs,
including but not limited to any options or warrants to purchase Ordinary Shares or ADSs or any
securities that are convertible into or exchangeable for, or that represent the right to receive,
Ordinary Shares or ADSs or any such substantially similar securities or file any registration
statement with the
-19-
Commission relating to the offering of any Ordinary Shares, ADSs or any securities convertible
into or exercisable or exchangeable for Ordinary Shares or ADSs (other than (a) the issuance by the
Company of Ordinary Shares upon the exercise of an option or warrant or the conversion of a
security outstanding on the date hereof of which the Underwriter has been advised in writing or as
disclosed in the Pricing Prospectus or (b) the grant of options by the Company to its employees,
directors and/or consultants pursuant to the Companys existing share option plans as described in
the Pricing Prospectus; provided, however that such options shall not be exercisable during the
period ending 90 days after the date of the Prospectus) without your prior written consent.
(h) To pay the required Commission filing fees relating to the Securities within the time
required by Rule 456(b)(1) under the Act without regard to the
provision therein and otherwise in
accordance with Rules 456(b) and 457(r) under the Act;
(i) To use the net proceeds received by it from the sale of the Securities pursuant to this
Agreement in the manner specified in the Pricing Prospectus under the caption Use of Proceeds;
(j) To use its best efforts to maintain the listing of the ADSs on the NASDAQ Global Select
Market;
(k) Prior to each Time of Delivery to deposit Offered Shares with the Depositary in accordance
with the provisions of the Deposit Agreement and otherwise to comply with the Deposit Agreement so
that ADSs will be issued by the Depositary against receipt of such Offered Shares and delivered to
the Underwriter at such Time of Delivery;
(l) Not to (and to cause its affiliates not to) take, directly or indirectly, any action which
is designed to or which constitutes or which would reasonably be expected to cause or result in
stabilization or manipulation of the price of any security of the Company or facilitate the sale or
resale of the Offered Shares and Offered ADSs;
(m) The Company will indemnify and hold harmless the Underwriters against any documentary,
stamp or similar issue tax, including any interest and penalties, on the creation, issue and sale
of the Offered ADSs by the Company and on the execution and delivery of this Agreement. All
payments to be made by the Company hereunder shall be made without withholding or deduction for or
an account of any present or future taxes, duties or governmental chares whatsoever unless the
Company is compelled by law to deduct or withhold such taxes, duties or charges. In that event,
the Company shall pay such additional amounts as may be necessary in order that the net amounts
received after such withholding or deduction shall equal the amounts that would have been received
if no withholding or deduction had been made.
(n) The Company agrees (i) not to attempt to avoid any judgment obtained by it or denied to it
in a court of competent jurisdiction outside the Cayman Islands; (ii) following the consummation of
the offering of the Offered ADSs, it will use its best efforts to obtain and maintain all approvals
required in the Cayman Islands to pay and remit outside the Cayman Islands all dividends declared
by the Company and payable on the Ordinary Shares; and (iii) it will use its best efforts to obtain
and maintain all approvals
-20-
required in the Cayman Islands for the Company to acquire sufficient foreign exchange for the
payment of dividends and all other relevant purposes.
(o) To notify you immediately, and confirm the notice in writing at any time: (i) the Company
becomes an ineligible issuer, as defined in Rule 405 under the Act, (ii) the Registration
Statement ceases to be an automatic shelf registration statement (as defined in Rule 405 under
the Act) or the Company shall have received, from the Commission, a notice, pursuant to Rule
401(g)(2), of objection to the use of the form on which the Registration Statement was filed with
the Commission, (iii) when any post-effective amendment to the Registration Statement or to the ADS
Registration Statements shall become effective, or any supplement to the Prospectus or Permitted
Free Writing Prospectus or any amended Prospectus shall have been filed, (iv) of the receipt of any
comments from the Commission, and (v) of any request by the Commission for any amendment to the
Registration Statement or to the ADS Registration Statements or any amendment or supplement to the
Prospectus or for additional information.
(p) Upon request of the Underwriter, to furnish, or cause to be furnished, to the Underwriter
an electronic version of the Companys trademarks, servicemarks and corporate logo for use on the
website, if any, operated by the Underwriter for the purpose of facilitating the on-line offering
of the Securities (the License); provided, however, that the License shall be used solely for the
purpose described above, is granted without any fee and may not be assigned or transferred
6. (a) The Company represents and agrees that, without the prior consent of the Underwriter,
it has not made and will not make any offer relating to the Securities that would constitute a
free writing prospectus as defined in Rule 405 under the Act; the Underwriter represents and
agrees that, without the prior consent of the Company, it has not made and will not make any offer
relating to Securities that would constitute a free writing prospectus; any such free writing
prospectus, the use of which has been consented to by the Company and the Underwriter is listed in
Schedule II(a) or Schedule II(b) hereto;
(b) The Company has complied and will comply with the requirements of Rule 433 under the Act
applicable to any Issuer Free Writing Prospectus, including timely filing with the Commission or
retention where required and legending; and
(c) The Company agrees that if at any time following issuance of an Issuer Free Writing
Prospectus any event occurred or occurs as a result of which such Issuer Free Writing Prospectus
would conflict with the information in the Registration Statement, the Pricing Prospectus or the
Prospectus or would include an untrue statement of a material fact or omit to state any material
fact necessary in order to make the statements therein, in the light of the circumstances then
prevailing, not misleading, the Company will give prompt notice thereof to the Underwriter and, if
requested by the Underwriter, will prepare and furnish without charge to the Underwriter an Issuer
Free Writing Prospectus or other document which will correct such conflict, statement or omission;
provided, however, that this representation and warranty shall not apply to any statements or
omissions in an Issuer Free Writing Prospectus made in reliance upon and in conformity with
information furnished in writing to the Company by the Underwriter expressly for use therein.
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7. The Company covenants and agrees with the Underwriter that the Company will pay or cause to
be paid the following: (i) the fees, disbursements and expenses of the Companys counsel and
accountants in connection with the registration of the Securities under the Act and all other
expenses in connection with the preparation, printing, reproduction and filing of the Registration
Statement, the Base Prospectus, any Preliminary Prospectus, any Issuer Free Writing Prospectus and
the Prospectus and amendments and supplements thereto and the mailing and delivering of copies
thereof to the Underwriter and dealers; (ii) the cost of printing or producing this Agreement,
closing documents (including any compilations thereof) and any other documents in connection with
the offering, purchase, sale and delivery of the Securities; (iii) all expenses in connection with
the qualification of the Securities for offering and sale under state securities laws as provided
in Section 5(d) hereof, including the fees and disbursements of counsel for the Underwriter in
connection with such qualification and in connection with the Blue Sky survey; (iv) all fees and
expenses in connection with listing the Securities on NASDAQ Global Select Market (v) the filing
fees incident to, and the fees and disbursements of counsel for the Underwriter in connection with,
any required review by FINRA of the terms of the sale of the Securities; (vi) the cost of preparing
the Securities; (vii) the cost and charges of any transfer agent or registrar; (viii) the costs and
expenses of the Company relating to investor presentations on any road show undertaken in
connection with the marketing of the offering of the Offered ADSs, including, without limitation,
expenses associated with the preparation or dissemination of any electronic roadshow, expenses
associated with the production of road show slides and graphics, fees and expenses of any
consultants engaged in connection with the road show presentations with the prior approval of the
Company, travel and lodging expenses of the representatives and officers of the Company and any
such consultants, and the cost of any aircraft charted in connection with the road show, and (ix)
all other costs and expenses incident to the performance of its obligations hereunder which are not
otherwise specifically provided for in this Section. It is understood, however, that, except as
provided in this Section, and Sections 9 and 11 hereof, the Underwriter will pay all of their own
costs and expenses, including the fees of their counsel, transfer taxes on resale of any of the
Securities by them, and any advertising expenses connected with any offers they may make.
8. The obligations of the Underwriter hereunder, as to the Securities to be delivered at each
Time of Delivery, shall be subject, in its discretion, to the condition that all representations
and warranties and other statements of the Company herein are, at and as of such Time of Delivery,
true and correct, the condition that the Company shall have performed all of its obligations
hereunder theretofore to be performed, and the following additional conditions:
(a) The Prospectus shall have been filed with the Commission pursuant to Rule 424(b) under the
Act within the applicable time period prescribed for such filing by the rules and regulations under
the Act and in accordance with Section 5(a) hereof; all material required to be filed by the
Company pursuant to Rule 433(d) under the Act shall have been filed with the Commission within the
applicable time period prescribed for such filings by Rule 433; no stop order suspending the
effectiveness of the Registration Statement or any part thereof shall have been issued and no
proceeding for that purpose shall have been initiated or, to the Companys best knowledge,
threatened by the Commission and no notice of objection of the Commission to the use of the
Registration
-22-
Statement or any post-effective amendment thereto pursuant to Rule 401(g)(2) under the Act
shall have been received; no stop order suspending or preventing the use of the Prospectus or any
Issuer Free Writing Prospectus shall have been initiated or threatened by the Commission; and all
requests for additional information on the part of the Commission shall have been complied with to
your reasonable satisfaction;
(b) (i) Neither the Company nor any of its Subsidiaries shall have sustained since the date of
the latest audited financial statements included or incorporated by reference in the Pricing
Prospectus any loss or interference with its business from fire, explosion, flood or other
calamity, whether or not covered by insurance, or from any labor dispute or court or governmental
action, order or decree, otherwise than as set forth or contemplated in the Pricing Prospectus, and
(ii) since the respective dates as of which information is given in the Pricing Prospectus there
shall not have been any change in the capital stock or long term debt of the Company or any of its
subsidiaries or any change, or any development involving a prospective change, in or affecting the
general affairs, management, financial position, stockholders equity or results of operations of
the Company and its subsidiaries, other than as set forth or contemplated in the Pricing
Prospectus, the effect of which, in any such case described in clause (i) or (ii), is in your
judgment so material and adverse as to make it impracticable or inadvisable to proceed with the
public offering or the delivery of the Securities being delivered at such Time of Delivery on the
terms and in the manner contemplated in the Prospectus;
(c) On or after the Applicable Time (i) no downgrading shall have occurred in the rating
accorded the Companys debt securities or preferred stock by any nationally recognized statistical
rating organization, as that term is defined by the Commission for purposes of Rule 436(g)(2)
under the Act, and (ii) no such organization shall have publicly announced that it has under
surveillance or review, with possible negative implications, its rating of any of the Companys
debt securities or preferred stock;
(d) The Underwriter shall have received prior to such Time of Delivery a certificate, dated
such Time of Delivery and signed by an executive officer of the Company, to the effect set forth in
Section 8(b) above and to the effect that the representations and warranties of the Company
contained in this Agreement are true and correct as of such Time of Delivery and that the Company
has complied with all of the agreements and satisfied all of the conditions on its part to be
performed or satisfied hereunder on or before such Time of Delivery.
The officer signing and delivering such certificate may rely upon the best of his or her
knowledge as to proceedings threatened.
(e) The Underwriter shall have received prior to such Time of Delivery an opinion of Maples
and Calder, Cayman Islands counsel for the Company, dated such Time of Delivery, in form and
substance satisfactory to the Underwriter.
(f) The Underwriter shall have received prior to such Time of Delivery an opinion and letter
of Skadden, Arps, Slate, Meagher & Flom, United States counsel for the Company, dated such Time of
Delivery, in form and substance satisfactory to the Underwriter.
-23-
(g) The Underwriter shall have received prior to such Time of Delivery an opinion of Commerce
& Finance Law Offices, PRC counsel for the Company, dated such Time of Delivery, in form and
substance satisfactory to the Underwriter.
(h) The Underwriter shall have received prior to such Time of Delivery an opinion of Li &
Partners, Hong Kong counsel for the Company, dated such Time of Delivery, in form and substance
satisfactory to the Underwriter.
(i) The Underwriter shall have received prior to such Time of Delivery an opinion of Tsar &
Tsai Law Firm, Taiwan counsel for the Company, dated such Time of Delivery, in form and substance
satisfactory to the Underwriter.
(j) The Underwriter shall have received prior to such Time of Delivery an opinion and letter
of Shearman & Sterling LLP, United States counsel for the Underwriter, dated such Time of Delivery,
in form and substance satisfactory to the Underwriter.
(k) The Underwriter shall have received prior to such Time of Delivery an opinion of Jingtian
& Gongcheng, PRC counsel for the Underwriter, dated such Time of Delivery, in form and substance
satisfactory to the Underwriter.
(l) The Underwriter shall have received prior to such Time of Delivery an opinion of Emmet,
Marvin & Martin, LLP, counsel for the Depositary, dated such Time of Delivery, in form and
substance satisfactory to the Underwriter.
(m) The Underwriter shall have received, on each of the date hereof and the date of Time of
Delivery, a letter dated the date hereof or the date of such Time of Delivery, as the case may be,
in form and substance satisfactory to the Underwriter, from PricewaterhouseCoopers, independent
public accountants, containing statements and information of the type ordinarily included in
accountants comfort letters to underwriter with respect to the financial statements and certain
financial information contained in the Registration Statement, the Time of Sale Prospectus and the
Prospectus; provided that the letter delivered prior to such Time of Sale shall use a cut-off
date not earlier than the date hereof.
(n) The lock-up agreements, each substantially in the form of Schedule III(a) hereto,
between the Underwriter and each of the directors and officers of the
Company, as listed in Schedule III(b) relating to sales and certain other dispositions of Shares, ADSs or certain other
securities, delivered to you on or before the date hereof, shall be in full force and effect on the
date of such Time of Delivery.
(o) The Offered ADSs shall have been approved for listing on the NASDAQ Global Select Market,
subject only to notice of issuance.
(p) The Depositary shall have delivered to the Company prior to such Time of Delivery
certificates satisfactory to the Underwriter evidencing the issuance of the ADSs to be delivered by
the Company at the Time of Delivery, and the execution, countersignature (if applicable), issuance
and delivery of the Offered ADSs pursuant to the Deposit Agreement.
-24-
(q) On or after the Applicable Time there shall not have occurred any of the following: (i)
trading generally shall have been suspended or materially limited on, or by, as the case may be,
any of the New York Stock Exchange, the American Stock Exchange, the NASDAQ Global Market, the
Chicago Board of Options Exchange, the Chicago Mercantile Exchange, the Chicago Board of Trade or
the London Stock Exchange, (ii) trading of any securities of the Company shall have been suspended
on any exchange or in any over-the-counter market, (iii) a material disruption in securities
settlement, payment or clearance services in the United States or the Cayman Islands relevant
jurisdiction shall have occurred, (iv) any moratorium on commercial banking activities shall have
been declared by Federal or New York State, PRC, United Kingdom or Cayman Islands authorities or
(v) there shall have occurred any outbreak or escalation of hostilities, or any change in financial
markets, currency exchange rates or controls or any calamity or crisis that, in your judgment, is
material and adverse and which, singly or together with any other event specified in this clause
(v), makes it, in your judgment, impracticable or inadvisable to proceed with the offer, sale or
delivery of the Securities on the terms and in the manner contemplated in the Pricing Prospectus or
the Prospectus; and
(r) The Company shall have complied with the provisions of Section 5(e) hereof with respect to
the furnishing of prospectuses on the New York Business Day next succeeding the date of this
Agreement.
9. (a) The Company will indemnify and hold harmless the Underwriter against any losses,
claims, damages or liabilities, joint or several, to which the Underwriter may become subject,
under the Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in
respect thereof) arise out of or are based upon an untrue statement or alleged untrue statement of
a material fact contained in the Registration Statement, the Base Prospectus, any Preliminary
Prospectus, the Pricing Prospectus, the Pricing Disclosure Package or the Prospectus, or any
amendment or supplement thereto, any Issuer Free Writing Prospectus or any issuer information
filed or required to be filed pursuant to Rule 433(d) under the Act, or arise out of or are based
upon the omission or alleged omission to state therein a material fact required to be stated
therein or necessary to make the statements therein not misleading, and will reimburse the
Underwriter for any legal or other expenses reasonably incurred by the Underwriter in connection
with investigating or defending any such action or claim as such expenses are incurred; provided,
however, that the Company shall not be liable in any such case to the extent that any such loss,
claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue
statement or omission or alleged omission made in the Registration Statement, the ADS Registration
Statements, the Base Prospectus, any Preliminary Prospectus, the Pricing Prospectus, the Pricing
Disclosure Package or the Prospectus, or any amendment or supplement thereto, or any Issuer Free
Writing Prospectus, in reliance upon and in conformity with written information furnished to the
Company by the Underwriter expressly for use therein.
(b) The Underwriter will indemnify and hold harmless the Company against any losses, claims,
damages or liabilities to which the Company may become subject, under the Act or otherwise, insofar
as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are
based upon an untrue statement or alleged untrue statement of a material fact contained in the
Registration Statement, the ADS
-25-
Registration Statement, the Base Prospectus, any Preliminary Prospectus, the Pricing
Prospectus, the Pricing Disclosure Package or the Prospectus, or any amendment or supplement
thereto, or any Issuer Free Writing Prospectus, or arise out of or are based upon the omission or
alleged omission to state therein a material fact required to be stated therein or necessary to
make the statements therein not misleading, in each case to the extent, but only to the extent,
that such untrue statement or alleged untrue statement or omission or alleged omission was made in
the Registration Statement, the ADS Registration Statements, the Base Prospectus, any Preliminary
Prospectus, the Pricing Prospectus, the Pricing Disclosure Package or the Prospectus or any such
amendment or supplement thereto, or any Issuer Free Writing Prospectus, in reliance upon and in
conformity with written information furnished to the Company by the Underwriter expressly for use
therein; and will reimburse the Company for any legal or other expenses reasonably incurred by the
Company in connection with investigating or defending any such action or claim as such expenses are
incurred.
(c) Promptly after receipt by an indemnified party under subsection (a) or (b) above of notice
of the commencement of any action, such indemnified party shall, if a claim in respect thereof is
to be made against the indemnifying party under such subsection, notify the indemnifying party in
writing of the commencement thereof; but the omission so to notify the indemnifying party shall not
relieve it from any liability which it may have to any indemnified party otherwise than under such
subsection. In case any such action shall be brought against any indemnified party and it shall
notify the indemnifying party of the commencement thereof, the indemnifying party shall be entitled
to participate therein and, to the extent that it shall wish, jointly with any other indemnifying
party similarly notified, to assume the defense thereof, with counsel satisfactory to such
indemnified party (who shall not, except with the consent of the indemnified party, be counsel to
the indemnifying party), and, after notice from the indemnifying party to such indemnified party of
its election so to assume the defense thereof, the indemnifying party shall not be liable to such
indemnified party under such subsection for any legal expenses of other counsel or any other
expenses, in each case subsequently incurred by such indemnified party, in connection with the
defense thereof other than reasonable costs of investigation. No indemnifying party shall, without
the written consent of the indemnified party, effect the settlement or compromise of, or consent to
the entry of any judgment with respect to, any pending or threatened action or claim in respect of
which indemnification or contribution may be sought hereunder (whether or not the indemnified party
is an actual or potential party to such action or claim) unless such settlement, compromise or
judgment (i) includes an unconditional release of the indemnified party from all liability arising
out of such action or claim and (ii) does not include a statement as to or an admission of fault,
culpability or a failure to act, by or on behalf of any indemnified party.
(d) If the indemnification provided for in this Section 9 is unavailable to or insufficient to
hold harmless an indemnified party under subsection (a) or (b) above in respect of any losses,
claims, damages or liabilities (or actions in respect thereof) referred to therein, then each
indemnifying party shall contribute to the amount paid or payable by such indemnified party as a
result of such losses, claims, damages or liabilities (or actions in respect thereof) in such
proportion as is appropriate to reflect the relative benefits received by the Company on the one
hand and the Underwriter on the other from the offering of the Securities. If, however, the
allocation provided by the
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immediately preceding sentence is not permitted by applicable law or if the indemnified party
failed to give the notice required under subsection (c) above, then each indemnifying party shall
contribute to such amount paid or payable by such indemnified party in such proportion as is
appropriate to reflect not only such relative benefits but also the relative fault of the Company
on the one hand and the Underwriter on the other in connection with the statements or omissions
which resulted in such losses, claims, damages or liabilities (or actions in respect thereof), as
well as any other relevant equitable considerations. The relative benefits received by the Company
on the one hand and the Underwriter on the other shall be deemed to be in the same proportion as
the total net proceeds from the offering (before deducting expenses) received by the Company bear
to the total underwriting discounts and commissions received by the Underwriter, in each case as
set forth in the table on the cover page of the Prospectus. The relative fault shall be determined
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 Company on the one hand or the Underwriter on the other and the parties relative intent,
knowledge, access to information and opportunity to correct or prevent such statement or omission.
The Company and the Underwriter agree that it would not be just and equitable if contribution
pursuant to this subsection (d) were determined by pro rata allocation or by any other method of
allocation which does not take account of the equitable considerations referred to above in this
subsection (d). The amount paid or payable by an indemnified party as a result of the losses,
claims, damages or liabilities (or actions in respect thereof) referred to above in this subsection
(d) shall be deemed to include any legal or other expenses reasonably incurred by such indemnified
party in connection with investigating or defending any such action or claim. Notwithstanding the
provisions of this subsection (d), the Underwriter shall not be required to contribute any amount
in excess of the amount by which the total price at which the Securities underwritten by it and
distributed to the public were offered to the public exceeds the amount of any damages which the
Underwriter has otherwise been required to pay by reason of such untrue or alleged untrue statement
or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the
meaning of Section 11(f) of the Act) shall be entitled to contribution from any person who was not
guilty of such fraudulent misrepresentation.
(e) The obligations of the Company under this Section 9 shall be in addition to any liability
which the Company may otherwise have and shall extend, upon the same terms and conditions, to each
person, if any, who controls the Underwriter within the meaning of the Act and each broker-dealer
affiliate of the Underwriter; and the obligations of the Underwriter under this Section 9 shall be
in addition to any liability which the Underwriter may otherwise have and shall extend, upon the
same terms and conditions, to each officer and director of the Company and to each person, if any,
who controls the Company within the meaning of the Act.
10. The respective indemnities, agreements, representations, warranties and other statements
of the Company and the Underwriter, as set forth in this Agreement or made by or on behalf of them,
respectively, pursuant to this Agreement, shall remain in full force and effect, regardless of any
investigation (or any statement as to the results thereof) made by or on behalf of the Underwriter
or any controlling person of the Underwriter, or the Company, or any officer or director or
controlling person of the Company, and shall survive delivery of and payment for the Securities.
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11. If this Agreement shall be terminated by the Underwriter because of any failure or refusal
on the part of the Company to comply with the terms or to fulfill any of the conditions of this
Agreement, or if for any reason the Company shall be unable to perform its obligations under this
Agreement, the Company will, upon the occurrence of any failure to complete the sale and delivery
of the Offered Shares or the Offered ADSs, promptly (and, in any event, not later than 30 days)
reimburse the Underwriter for all out-of-pocket expenses approved in writing by you, including fees
and disbursements of counsel, reasonably incurred by the Underwriter in making preparations for the
purchase, sale and delivery of the Securities not so delivered, but the Company shall then be under
no further liability to the Underwriter except as provided in Sections 7 and 9 hereof.
12. All statements, requests, notices and agreements hereunder shall be in writing, and if to
the Underwriter shall be delivered or sent by mail, telex or facsimile transmission to you in care
of Goldman Sachs (Asia) L.L.C., 68th Floor, Cheung Kong Center, 2 Queens Road Central, Hong Kong,
facsimile number: (852) 2978-0440, Attention: Legal Department; and if to the Company shall be
delivered or sent by mail, telex or facsimile transmission to the address of the Company set forth
in the Registration Statement, Attention: Jane Jie Sun. Any such statements, requests, notices or
agreements shall take effect upon receipt thereof.
In accordance with the requirements of the USA Patriot Act (Title III of Pub. L. 107-56
(signed into law October 26, 2001)), the underwriter is required to obtain, verify and record
information that identifies its respective clients, including the Company, which information may
include the name and address of their respective clients, as well as other information that will
allow the underwriter to properly identify their respective clients.
13. This Agreement shall be binding upon, and inure solely to the benefit of, the Underwriter,
the Company and, to the extent provided in Sections 9 and 10 hereof, the officers and directors of
the Company and each person who controls the Company or the Underwriter, and their respective
heirs, executors, administrators, successors and assigns, and no other person shall acquire or have
any right under or by virtue of this Agreement. No purchaser of any of the Securities by the
Underwriter shall be deemed a successor or assign by reason merely of such purchase.
14. Time shall be of the essence of this Agreement. As used herein, the term business day
shall mean any day when the Commissions office in Washington, D.C. is open for business.
15. The Company acknowledges and agrees that (i) the purchase and sale of the Securities
pursuant to this Agreement is an arms-length commercial transaction between the Company, on the
one hand, and the Underwriter, on the other, (ii) in connection therewith and with the process
leading to such transaction the Underwriter is acting solely as a principal and not the agent or
fiduciary of the Company, (iii) the Underwriter has not assumed an advisory or fiduciary
responsibility in favor of the Company with respect to the offering contemplated hereby or the
process leading thereto (irrespective of whether the Underwriter has advised or is currently
advising the Company on other matters) or any other obligation to the Company except the
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obligations expressly set forth in this Agreement and (iv) the Company has consulted its own
legal and financial advisors to the extent it deemed appropriate. The Company agrees that it will
not claim that the Underwriter, or any of them, has rendered advisory services of any nature or
respect, or owes a fiduciary or similar duty to the Company, in connection with such transaction or
the process leading thereto.
16. This Agreement supersedes all prior agreements and understandings (whether written or
oral) between the Company and the Underwriter, or any of them, with respect to the subject matter
hereof.
17. This Agreement shall be governed by and construed in accordance with the laws of the State
of New York.
18. Each of the parties hereto irrevocably (i) agrees that any legal suit, action or
proceeding against the Company brought by the Underwriter or by any person who controls the
Underwriter arising out of or based upon this Agreement or the transactions contemplated hereby may
be instituted in any New York Court, (ii) waives, to the fullest extent it may effectively do so,
any objection which it may now or hereafter have to the laying of venue of any such proceeding and
(iii) submits to the exclusive jurisdiction of such courts in any such suit, action or proceeding.
The Company has appointed CT Corporation System, as its authorized agent (the Authorized Agent)
upon whom process may be served in any such action arising out of or based on this Agreement or the
transactions contemplated hereby which may be instituted in any New York Court by the Underwriter
or by any person who controls the Underwriter, expressly consents to the jurisdiction of any such
court in respect of any such action, and waives any other requirements of or objections to personal
jurisdiction with respect thereto. Such appointment shall be irrevocable. The Company represents
and warrants that the Authorized Agent has agreed to act as such agent for service of process and
agrees to take any and all action, including the filing of any and all documents and instruments,
that may be necessary to continue such appointment in full force and effect as aforesaid. Service
of process upon the Authorized Agent and written notice of such service to the Company shall be
deemed, in every respect, effective service of process upon the Company.
19. In respect of any judgment or order given or made for any amount due hereunder that is
expressed and paid in a currency (the judgment currency) other than United States dollars, the
Company will indemnify the Underwriter against any loss incurred by the Underwriter as a result of
any variation as between (i) the rate of exchange at which the United States dollar amount is
converted into the judgment currency for the purpose of such judgment or order and (ii) the rate of
exchange at which the Underwriter is able to purchase United States dollars with the amount of the
judgment currency actually received by the Underwriter. The foregoing indemnity shall constitute a
separate and independent obligation of the Company and shall continue in full force and effect
notwithstanding any such judgment or order as aforesaid. The term rate of exchange shall include
any premiums and costs of exchange payable in connection with the purchase of or conversion into
United States dollars.
20. Each of the Company and the Underwriter hereby irrevocably waives, to the fullest extent
permitted by applicable law, any and all right to trial by jury in any legal
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proceeding arising out of or relating to this Agreement or the transactions contemplated
hereby.
21. This Agreement may be executed by any one or more of the parties hereto in any number of
counterparts, each of which shall be deemed to be an original, but all such respective counterparts
shall together constitute one and the same instrument.
22. Notwithstanding anything herein to the contrary, the Company is authorized to disclose to
any persons the U.S. federal and state income tax treatment and tax structure of the potential
transaction and all materials of any kind (including tax opinions and other tax analyses) provided
to the Company relating to that treatment and structure, without the Underwriters imposing any
limitation of any kind. However, any information relating to the tax treatment and tax structure
shall remain confidential (and the foregoing sentence shall not apply) to the extent necessary to
enable any person to comply with securities laws. For this purpose, tax structure is limited to
any facts that may be relevant to that treatment.
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If the foregoing is in accordance with your understanding, please sign and return to us four
counterparts hereof, and upon the acceptance hereof by you, this letter and such acceptance hereof
shall constitute a binding agreement between the Underwriter and the Company.
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Very truly yours,
Ctrip.com International, Ltd.
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Accepted as of the date hereof:
Goldman Sachs (Asia) L.L.C.
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SCHEDULE I
Ctrip.com (Hong Kong) Limited, a Hong Kong company
Ctrip Computer Technology (Shanghai) Co., Ltd., a PRC company
Ctrip Travel Information Technology (Shanghai) Co., Ltd., a PRC company
Ctrip Travel Network Technology (Shanghai) Co., Ltd., a PRC company
C-Travel International Limited, a Cayman Islands company
Ctrip Information Technology (Nantong) Co., Ltd., a PRC company
China Software Hotel Information System Co., Ltd., a PRC company
Starway Hotels (Hong Kong) Limited, a Hong Kong company
Starway Hotels (Shanghai) Co., Ltd., a PRC company
ezTravel Co., Ltd, a Taiwan company
Beijing Ctrip International Travel Agency Co., Ltd
Shanghai Ctrip Commerce Co., Ltd.
Shanghai Huacheng Travel Agency Co., Ltd.
Guangzhou Ctrip International Travel Agency Co., Ltd.
Shanghai Ctrip International Travel Agency Co., Ltd.
Shenzhen Ctrip Travel Agency Co., Ltd.
Nantong Tongcheng Information Technology Co., Ltd.
-I-1-
SCHEDULE II
(a) Issuer Free Writing Prospectuses not included in the Pricing Disclosure Package:
(b) Materials and information other than Pricing Prospectus that comprise the Pricing
Disclosure Package
(c) Additional Documents Incorporated by Reference:
II-1
SCHEDULE III (a)
Form of Lock-Up Agreement
, 2010
Goldman Sachs (Asia) L.L.C.
68th Floor, Cheung Kong Center
2 Queens Road Central, Hong Kong
Re: Ctrip.com International, Ltd. Lock-Up Agreement
Ladies and Gentlemen:
The undersigned understands that you propose to enter into an underwriting agreement (the
Underwriting Agreement) with Ctrip.com International, Ltd., an exempted company limited by shares
incorporated in the Cayman Islands (the Company), providing for a public offering of American
Depositary Shares (the ADSs) representing ordinary shares of the Company, par value $0.01 per
share (the Ordinary Shares) (the Public Offering).
In consideration of the agreement by you to offer and sell the ADSs, and of other good and
valuable consideration the receipt and sufficiency of which is hereby acknowledged, the undersigned
agrees that, during the period specified in the following paragraph (the Lock-Up Period), the
undersigned will not offer, sell, contract to sell, pledge, grant any option to purchase, purchase
any option or contract to sell, make any short sale or otherwise dispose of any ADSs or Ordinary
Shares or any securities of the Company that are substantially similar to the ADSs or Ordinary
Shares of the Company, or any options or warrants to purchase any ADSs or Ordinary Shares of the
Company, or any securities convertible into, exchangeable for or that represent the right to
receive ADSs or Ordinary Shares of the Company, whether now owned or hereinafter acquired, owned
directly by the undersigned (including holding as a custodian) or with respect to which the
undersigned has beneficial ownership within the rules and regulations of the SEC (collectively the
Undersigneds Shares). The foregoing restriction is expressly agreed to preclude the undersigned
from engaging in any hedging or other transaction which is designed to or which reasonably could be
expected to lead to or result in a sale or disposition of the Undersigneds Shares even if such
Shares would be disposed of by someone other than the undersigned. Such prohibited hedging or other
transactions would include without limitation any short sale or any purchase, sale or grant of any
right (including without limitation any put or call option) with respect to any of the
Undersigneds Shares or with respect to any security that includes, relates to, or derives any
significant part of its value from such Shares.
The Lock-Up Period will commence on the date of this Lock-Up Agreement and continue for 90
days after the public offering date set forth on the final prospectus used
III(a)-1
to sell the Ordinary Shares (the Public Offering Date) pursuant to the Underwriting
Agreement.
Notwithstanding the foregoing, the undersigned may transfer the Undersigneds Shares (i) as a
bona fide gift or gifts, provided that the donee or donees thereof agree to be bound in writing by
the restrictions set forth herein, (ii) to any trust for the direct or indirect benefit of the
undersigned or the immediate family of the undersigned, provided that the trustee of the trust
agrees to be bound in writing by the restrictions set forth herein, and provided further that any
such transfer shall not involve a disposition for value, (iii) transactions relating to ADSs
representing the Ordinary Shares or other securities acquired in open market transactions after the
completion of the Public Offering, provided that no filing under Section 16(a) of the Securities
Exchange Act of 1934, as amended (the Exchange Act) shall be required or shall be voluntarily
made in connection with subsequent sales of ADSs representing Ordinary Shares or other securities
acquired in open market transactions after the completion of the Public Offering, provided
that no filing under Section 16(a) of the Securities Exchange Act of 1934, as amended (the
Exchange Act) shall be required or shall be voluntarily made in connection with subsequent sales
of ADSs representing the Ordinary Shares or other securities acquired in such open market
transactions, or (iv) with the prior written consent of Goldman Sachs (Asia) L.L.C. For purposes
of this Lock-Up Agreement, immediate family shall mean any relationship by blood, marriage or
adoption, not more remote than first cousin. In addition, notwithstanding the foregoing, if the
undersigned is a corporation, the corporation may transfer the share capital of the Company to any
wholly owned subsidiary of such corporation; provided, however, that in any such
case, it shall be a condition to the transfer that the transferee execute an agreement stating that
the transferee is receiving and holding such share capital subject to the provisions of this
Agreement and there shall be no further transfer of such share capital except in accordance with
this Agreement, and provided further that any such transfer shall not involve a disposition for
value. In addition, the undersigned agrees that, without your prior written consent, it will not,
during the period commencing on the date hereof and ending 90 days after the date of the
Prospectus, make any demand for or exercise any right with respect to, the registration of any
Ordinary Shares or any security convertible into or exercisable or exchangeable for Ordinary
Shares. The undersigned also agrees and consents to the entry of stop transfer instructions with
the Companys transfer agent and registrar and the depositary for the ADSs against the transfer of
the Undersigneds Shares except in compliance with the foregoing restrictions.
The undersigned understands that the Company and the Underwriter are relying upon this Lock-Up
Agreement in proceeding toward consummation of the offering. The undersigned further understands
that this Lock-Up Agreement is irrevocable and shall be binding upon the undersigneds heirs, legal
representatives, successors, and assigns.
This Lock-Up Agreement shall terminate upon the expiration of the Lock-up Period or in the event that the Underwriting Agreement shall be terminated prior to the Time of Delivery (as defined in the Underwriting Agreement).
III(a)-2
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Very truly yours,
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Exact Name of Shareholder |
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Authorized Signature |
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Title |
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III(a)-3
SCHEDULE III (b)
James Jianzhang Liang
Min Fan
Jane Jie Sun
Neil Nanpeng Shen
Qi Ji
Gabriel Li
JP Gan
Suyang Zhang
Jianmin Zhu
Tao Yang
Maohua Sun
James Lan Tang
Shaw Xiaoliang Ding
Cindy Xiaofan Wang
Yuxiang Zhuang
Dongjie Guo
Hao Jiang
III(b)-1