UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 20-F/A

(Amendment No. 1)

☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934

☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the fiscal year ended December 31, 2016

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Commission File Number: 001-36761

KENON HOLDINGS LTD.

(Exact name of registrant as specified in its charter)

(Company Registration No. 201406588W)

(State or other jurisdiction of incorporation or organization)

Singapore 4911 Not Applicable (Primary Standard Industrial Classification Code Number)

(I.R.S. Employer Identification No.)

1 Temasek Avenue #36-01 Millenia Tower Singapore 039192 +65 6351 1780

(Address, including zip code, and telephone number, including area code, of registrant's principal executive offices)

Copies to:

Scott V. Simpson James A. McDonald Skadden, Arps, Slate, Meagher and Flom (UK) LLP 40 Bank Street London E14 5DS Telephone: +44 20 7519 7000 Facsimile: +44 20 7519 7070

Securities registered or to be registered pursuant to Section 12(b) of the Act:

Title of Each Class Name of Each Exchange on Which Registered Ordinary Shares, no par value The New York Stock Exchange

Securities registered or to be registered pursuant to Section 12(g) of the Act: None

Securities for which there is a reporting obligation pursuant to Section 15(d) of the Act: None

Indicate the number of outstanding shares of each of the issuer's classes of capital or common stock as of the close of the period covered by the annual report:

53,719,667 shares

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.

Yes ☐	No ☒
-------	------	--

If this report is an annual or transition report, indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934.

Yes ☐ No ☒

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such a shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically or posted on its corporate Web site, if any, every Interactive Data File required to be submitted an posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).

Yes ☐ No ☐

Indicate by check mark whether the registrant is an accelerated filer, a large accelerated filer, a non-accelerated filer, or an emerging growth company. See definition of "large accelerated filer," "accelerated filer," and "emerging growth company" in Rule 12b-2 of the Exchange Act. (Check one):

Large accelerated filer ☐ Accelerated filer ☒

Non-accelerated filer ☐ Emerging growth company ☐

If an emerging growth company that prepares its financial statements in accordance with U.S. GAAP, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards † provided pursuant to Section 13(a) of the Exchange Act. ☐

† The term "new or revised financial accounting standard" refers to any update issued by the Financial Accounting Standards Board to its Accounting Standards Codification after April 5, 2012.

Indicate by check mark which basis of accounting the registrant has used to prepare the financial statements included in this filing:

U.S. GAAP ☐ International Financial Reporting Standards as issued by the International Accounting Standards Board ☒ Other ☐

If "Other" has been checked in response to the previous question, indicate by check mark which financial statement item the Registrant has elected to follow:

Item 17 ☐ Item 18 ☐

If this is an annual report, indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

Yes ☐ No ☒

(APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY PROCEEDINGS DURING THE PAST FIVE YEARS)

Indicate by check mark whether the registrant has filed all documents and reports required to be filed by Sections 12, 13 or 15(d) of the Securities Exchange Act of 1934 subsequent to the distribution of securities under a plan confirmed by a court.

Yes ☐ No ☒

EXPLANATORY NOTE ITEM 19. Exhibits

EXPLANATORY NOTE

We are filing this Amendment No. 1 to our Annual Report on Form 20-F for the year ended December 31, 2016, which was originally filed with the U.S. Securities and Exchange Commission (the "SEC") on April 19, 2017 (the "Original 20-F"), solely for the purpose of filing Exhibits 4.23 and 4.24 that were listed in Item 19 of the Original 20-F, but which we were unable to file at such time due to technical reasons.

We are amending "Item 19 – Exhibits" of the Original 20-F to include as exhibits (i) Exhibit 4.23 (Further Release and Cash Support Agreement, dated March 9, 2017, between Kenon Holdings Ltd. and Chery Automobile Co. Ltd.), (ii) Exhibit 4.24 (The Second Equity Pledge Contract in relation to RMB 700 Million Loan, dated March 9, 2017, between Quantum (2007) LLC, as Pledgor, and Chery Automobile Co. Ltd., as Pledgee) and (iii) newly executed certifications by our Chief Executive Officer and Chief Financial Officer.

Except as specifically provided above, this Amendment No. 1 does not amend, update or restate any other items or sections of the Original 20-F and does not reflect events occurring after the filing of the Original 20-F on April 19, 2017. The filing of this Amendment No. 1 should not be understood to mean that any other statements contained in the Original 20-F are true and complete as of any date subsequent to the date of the Original 20-F.

ITEM 19. Exhibits

2014)

Index to Exhibits

Exhibit Number	Description of Document
1.1	Kenon Holdings Ltd.'s Constitution (Incorporated by reference to Exhibit 1.1 to Amendment No. 1 to Kenon's Registration Statement on Form 20-F, filed on December 19, 2014)
2.1	Form of Specimen Share Certificate for Kenon Holdings Ltd.'s Ordinary Shares (Incorporated by reference to Exhibit 2.1 to Kenon's Annual Report on Form 20-F for the fiscal year ended December 31, 2014, filed on March 31, 2015)
2.2	Registration Rights Agreement, dated as of January 7, 2015, between Kenon Holdings Ltd. and Millenium Investments Elad Ltd. (Incorporated by reference to Exhibit 99.5 to Kenon's Report on Form 6-K, furnished to the SEC on January 8, 2015)
2.3	Registration Rights Agreement, dated as of January 7, 2015, between Kenon Holdings Ltd. and Bank Leumi Le-Israel B.M. (Incorporated by reference to Exhibit 99.6 to Kenon's Report on Form 6-K, furnished to the SEC on January 8, 2015)
2.4	Registration Rights Agreement, dated as of January 7, 2015, between Kenon Holdings Ltd. and XT Investments Ltd. (Incorporated by reference to Exhibit 99.7 to Kenon's Report on Form 6-K, furnished to the SEC on January 8, 2015)
4.1	Sale, Separation and Distribution Agreement, dated as of January 7, 2015, between Israel Corporation Ltd. and Kenon Holdings Ltd. (Incorporated by reference to Exhibit 99.2 to Kenon's Report on Form 6-K, furnished to the SEC on January 8, 2015)
4.2	Loan Agreement, dated as of January 7, 2015, between Israel Corporation Ltd. and Kenon Holdings Ltd, as supplemented by Supplement No. 1 to the Loan Agreement, dated March 17, 2016 (Incorporated by reference to Exhibit 4.2 to Kenon's Annual Report on Form 20-F for the fiscal year ended December 31, 2015, filed on April 22, 2016)
4.3	English translation of Natural Gas Supply Agreement, dated as of January 2, 2006, as amended, among Kallpa Generación S.A., Pluspetrol Peru Corporation S.A., Pluspetrol Camisea S.A., Hunt Oil Company of Peru L.L.C. Sucursal del Peru, SK Corporation Sucursal Peruana, Sonatrach Peru Corporation S.A.C., Tecpetrol del Peru S.A.C. and Repsol Exploración Peru Sucursal del Peru (Incorporated by reference to Exhibit 4.3 to Amendment No. 1 to Kenon's Draft Registration Statement on Form 20-F, filed on August 14, 2014)
4.4	English translation of Natural Gas Transportation Agreement, dated as of December 10, 2007, as amended, between Kallpa Generación S.A. and Transportadora de Gas del Peru S.A. (Incorporated by reference to Exhibit 4.4 to Amendment No. 1 to Kenon's Draft Registration Statement on Form 20-F, filed on August 14, 2014)
4.5	Turnkey Engineering, Procurement and Construction Contract, dated as of November 4, 2011, among Cerro del Águila S.A., Astaldi S.p.A. and GyM S.A., as amended (Incorporated by reference to Exhibit 4.5 to Kenon's Annual Report on Form 20-F for the fiscal year ended December 31, 2015, filed on April 22, 2016)
4.6	English translation of Contract of Concession, dated as of October 23, 2010, as amended, between the Government of Peru and Kallpa Generación S.A., relating to the provision of electric energy services to the public (Incorporated by reference to Exhibit 4.6 to Amendment No. 1 to Kenon's Draft Registration Statement on Form 20-F, filed on August 14,

Exhibit Number	Description of Document
4.7†	Joint Venture Contract, dated as of February 16, 2007, as amended, between Wuhu Chery Automobile Investment Co., Ltd. and Quantum (2007) LLC (Incorporated by reference to Exhibit 4.7 to Amendment No. 1 to Kenon's Registration Statement on Form 20-F, filed on December 19, 2014)
4.8†	Gas Sale and Purchase Agreement, dated as of November 25, 2012, among Noble Energy Mediterranean Ltd., Delek Drilling Limited Partnership, Isramco Negev 2 Limited Partnership, Avner Oil Exploration Limited Partnership, Dor Gas Exploration Limited Partnership, and O.P.C. Rotem Ltd. (Incorporated by reference to Exhibit 10.8 to Amendment No. 1 to IC Power Pte. Ltd.'s Form F-1, filed on November 2, 2015)
4.9	Indenture, dated as of April 4, 2011, between Inkia Energy Limited, as issuer, and Citibank, N.A.as trustee, relating to Inkia Energy Limited's 8.375% Senior Notes due 2021 (Incorporated by reference to Exhibit 4.9 to Kenon's Annual Report on Form 20-F for the fiscal year ended December 31, 2014, filed on March 31, 2015)
4.10	Facility Agreement, dated as of January 2, 2011, among O.P.C. Rotem Ltd., as borrower, Bank Leumi Le-Israel B.M., as arranger and agent, Bank Leumi Le-Israel Trust Company Ltd., as security trustee, and the senior lenders named therein (Incorporated by reference to Exhibit 4.10 to Kenon's Annual Report on Form 20-F for the fiscal year ended December 31, 2014, filed on March 31, 2015)
4.11	Credit Agreement, dated as of August 17, 2012, among Cerro del Águila S.A., as borrower, Sumitomo Mitsui Banking Corporation, as administrative agent, and other parties party thereto (Incorporated by reference to Exhibit 4.11 to Kenon's Annual Report on Form 20-F for the fiscal year ended December 31, 2014, filed on March 31, 2015)
4.12	Guarantee Contract, dated as of June 9, 2015, between Kenon Holdings Ltd. and Chery Automobile Co. Ltd. (Incorporated by reference to Exhibit 4.12 to Kenon's Annual Report on Form 20-F for the fiscal year ended December 31, 2015, filed on April 22, 2016)
4.13	Guarantee Contract, dated as of November 5, 2015, between Kenon Holdings Ltd. and Chery Automobile Co. Ltd. (Incorporated by reference to Exhibit 4.13 to Kenon's Annual Report on Form 20-F for the fiscal year ended December 31, 2015, filed on April 22, 2016)
4.14	Stock Purchase Agreement, dated as of December 29, 2015, among IC Power Distribution Holdings PTE, Limited, as Purchaser, Inkia Energy, Limited, as Purchaser Guarantor, DEORSA-DEOCSA Holdings Limited, as Seller, and Estrella Cooperatief BA (Incorporated by reference to Exhibit 4.14 to Kenon's Annual Report on Form 20-F for the fiscal year ended December 31, 2015, filed on April 22, 2016)
4.15	Pledge Agreement, dated as of March 17, 2016, between Israel Corporation Ltd. and IC Power Pte. Ltd. (Incorporated by reference to Exhibit 4.15 to Kenon's Annual Report on Form 20-F for the fiscal year ended December 31, 2015, filed on April 22, 2016)
4.16	Security over Shares Agreement, dated as of March 17, 2016, between Israel Corporation Ltd. and Kenon Holdings Ltd. (Incorporated by reference to Exhibit 4.16 to Kenon's Annual Report on Form 20-F for the fiscal year ended December 31, 2015, filed on April 22, 2016)
4.17	Amendment and Restatement Agreement, dated as of September 2, 2016, relating to the Loan Agreement dated as of April 22, 2016, between Quantum (2007) LLC, as borrower, and Ansonia Holdings Singapore B.V., as lender, as amended (Incorporated by reference to Exhibit 4.17 to Kenon's Annual Report on Form 20-F for the fiscal year ended December 31, 2016, filed on April 19, 2017)
	3

Exhibit Number	Description of Document
4.18	Undertaking Agreement, dated as of April 22, 2016, among Qoros Automotive Co., Ltd., Quantum (2007) LLC, Kenon Holdings Ltd., Wuhu Chery Automobile Investment Co., Ltd., Chery Automobiles Limited, and Ansonia Holdings Singapore B.V. (Incorporated by reference to Exhibit 4.18 to Kenon's Annual Report on Form 20-F for the fiscal year ended December 31, 2015, filed on April 22, 2016)
4.19	Additional Undertaking Agreement, dated as of September 2, 2016, among Qoros Automotive Co., Ltd., Quantum (2007) LLC, Kenon Holdings Ltd., Wuhu Chery Automobile Investment Co., Ltd., Chery Automobiles Limited, and Ansonia Holdings Singapore B.V. (Incorporated by reference to Exhibit 4.19 to Kenon's Annual Report on Form 20-F for the fiscal year ended December 31, 2016, filed on April 19, 2017)
4.20	Fourth Amended and Restated Limited Liability Company Agreement of Quantum (2007) LLC, dated as of September 2, 2016 (Incorporated by reference to Exhibit 4.20 to Kenon's Annual Report on Form 20-F for the fiscal year ended December 31, 2016, filed on April 19, 2017)
4.21	Release Agreement, dated December 21, 2016, between Kenon Holdings Ltd. and Chery Automobile Co. Ltd. (Incorporated by reference to Exhibit 4.21 to Kenon's Annual Report on Form 20-F for the fiscal year ended December 31, 2016, filed on April 19, 2017)
4.22	Equity Pledge Contract, dated December 21, 2016, between Quantum (2007) LLC, as Pledgor, and Chery Automobile Co. Ltd., as Pledgee (Incorporated by reference to Exhibit 4.22 to Kenon's Annual Report on Form 20-F for the fiscal year ended December 31, 2016, filed on April 19, 2017)
4.23*	Further Release and Cash Support Agreement, dated March 9, 2017, between Kenon Holdings Ltd. and Chery Automobile Co. Ltd.
4.24*	The Second Equity Pledge Contract in relation to RMB700 Million Loan, dated March 9, 2017, between Quantum (2007) LLC, as Pledgor, and Chery Automobile Co. Ltd., as Pledgee
8.1	List of subsidiaries of Kenon Holdings Ltd. (Incorporated by reference to Exhibit 8.1 to Kenon's Annual Report on Form 20-F for the fiscal year ended December 31, 2016, filed on April 19, 2017)
12.1*	Rule 13a-14(a)/15d-14(a) Certification of Chief Executive Officer
12.2*	Rule 13a-14(a)/15d-14(a) Certification of Chief Financial Officer
13.1**	Certification of Chief Executive Officer and Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
15.1**	Consent of KPMG LLP, Independent Registered Public Accounting Firm of Kenon Holdings Ltd.
15.2**	Consent of Somekh Chaikin, a Member Firm of KPMG International
15.3**	Consent of KPMG Huazhen LLP, Independent Auditor of Qoros Automotive Co., Ltd.
15.4**	Consent of Deloitte, Inc. (Panamá), Independent Registered Public Accounting Firm of the Combined Entities (Distribuidora de Electricidad de Oriente, S.A. and Distribuidora de Electricidad de Occidente, S.A.)
15.5**	Consent of Brightman Almagor Zohar & Co., a Member Firm of Deloitte Touche Tohmatsu, independent auditor of Tower Semiconductor Ltd.

* Filed herewith.

** Previously filed with Kenon Holdings Ltd.'s Annual Report on Form 20-F for the fiscal year ended December 31, 2016, filed with the SEC on April 19, 2017.
† Portions of this exhibit have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Exchange Act. Omitted information has been filed separately with the SEC.

SIGNATURES

The registrant hereby certifies that it meets all of the requirements for filing on Form 20-F/A and that it has duly caused and authorized the undersigned to sign this annual report on its behalf.

Kenon Holdings Ltd.

By: /s/ Yoav Doppelt

Name: Yoav Doppelt Title: Chief Executive Officer

Date: April 21, 2017

Exhibit 4.23

Execution Version

Datod March 9, 2017 2017年3月9日 KENON HOLDINGS LTD. and 和 CHERY AUTOMOBILE CO. LTD. 奇瑞汽车股份有限公司

FURTHER RELEASE AND CASH SUPPORT AGREEMENT

进一步解除及资金支持协议

Table of Contents 目录

ı s

6 r

s 8 4

Recitals 前官
Release 解除 Release APP®
Chery's obligation to pay Rekraal Amount 奇琳文付相关资金的义务
Farther Avarace 进一步保证
Lasgues 语言 Language 语言
Governing law and enforcement 管辖法律及执行
Signature page 业学页

The Purcher Release And Cash Support Agreement 进一步解除及资金支持协议

THIS FURTHER RELEASE AND CASH SUPPORT AGREENENT (this "Agreement") is made on March 9, 2017

本进一步解除及资金支持协议("本协议")于2017年3月9日

AMONG:

由以下双方签署:

Kanan Hollang Lat., a Singleser corregary with shares list Tel. Arriv Stock Exchange (company registration no. 2014059399), whose legal addess (1) is at 1 Temasds Avenues, #36-01 Millenia Tower, Singapore 039192 ("Kenom"); and

Kenon Holdings Ltd.,一家在特拉维夫证券交易所和纽约证券交易所上市的公司( 公司登记注册号为 201406588W),其注册地址为 1 Temasek Avenues, #36- 01 Millenia Tower, 新加坡 039192("Kenon");以及

ि Chary America, Ltd. (वैस्थिं नही है कि

奇瑞汽车股份有限公司 .- 家根据中华人民共和国("中国")法律合法有效成立的
有限责任公司,其注册地址为中国安徽省芜湖市经济技术开发区长春路 8号("奇
瑞")。

(Keon and Chery are hereination individually referred to as a "Party" and collectively the "Partles".)

(Kenon 和奇瑞各称为"一方",合称为"双方"。)

WHEREAS

紫于

(1) Kesso is the parcel company ef Quantum") and Cher is the majes is the majes is the majes is the closedite Investmant Co., LA ("Waln Chry") Qualum add Whiles Chery are equal shareholders of the Sino-foreign equity joint venture company Qeoos Automotive Co., Ltd. ("Qurol")

Kenon 为量子(2007)公司("量子")的母公司,奇瑞为芜湖奇瑞汽车投资有限公司(" 芜湖奇瑞")的主委股东,量子和芜湖奇瑞是中外合资企业观致汽车有限公司("观致 ")各排50%股权的股东:

() Occus igned a RMBUSD dail carement for fined assess investmant with an aggregate darilly annual up to an equiralent of \$800 3 billion the "Thit Lons Acressel") with contact No. YF-1121210018 on 23 My 2012 will the Export-Import Bask Co., 1.4., Susteve Russia and other banks listed in the First Loa Agreemal as leaders (be "Laders") Pursuant to as subject to be tems and condition of the First Loas Agremant aged & make available to Qoros a long term loas facility in an aggregate amount ast exceeding an equivalent of RME3,000,000 (3 billion) in RMBAUSD dual currency.

ﻣﯿﺮ

观致已与中国进出口银行,中国建设银行股份有限公司苏州分行以及贷款协议所列多家贷款银行("贷款人")于 2012年7月23日签订了一份合同编号为 YT41121230018 的等值人民币参拾亿元人民币:美元双币种固定资产银团贷款协 The Parther Release And Cash Support Agreement
进一步解除及货企支持协议

议("第一份贷款协议")。根据第一份贷款协议的杀款与条件,第一份贷款协议中的贷款人同意向观致提供总计金额不超过等值人民币 3,000,000,000(大写:人民币参拾亿圆整)的人民币/美元双币种长期贷款。
(1) As a online year and the First Loan Apenses Child (in "This Chry Garrante") will comer the Your The Your The Your Wed 2 Joy 201 to provise as in increational guarate covering [0% of the indebtodens of Qoros under the First Loan Agramati (the "First Chargestered Matercates (1)
作为第一份贷款协议项下的一项先决条件,奇瑞于 2012年7月23日签订了一份合同编号为 YT41121230018(A)的保证合同("Chery 首次保证合同"),为观致在第一份贷款协议项下50% 的债务("奇霸首次担保债务")提供不可撤销的无条件保证担保。
4) Kenn and Chry futher chird into a guarate contract (1) did 5 November 2015 pu wast only hise Kessen aged to provide as 11:00 and uses@tional guarantee to Chery for up to 50% of the First of the tems and costliers them the the "Tim Kessend Mathelates" (b) b a maximum amount equal to the total arnount as defined in the First Kenon Guarantee.
Kenon 与奇瑞于2015年11月5日进一步签订了一份保证合同("Kenon 首次保证合同"),根据该合同 Kenon 同意就奇瑞首次担保债务的 50%提供不可撤销且无条件的保证担保,该保证担保的上限为 Kenon 首次保证合同规定的总金额(受限于上述协议的条款与条件)("Kenon 首次担保债务")。
() Orro has upod a Cosentian Loa Agreeman concession Provid Research and Development of first Model (the "Security of 1 May 2015 with the Erget import Bank of Chia, Chia Coutsurion Bat. Co., ITD, Subsch, is which the Scond Loan Apector and a mail analable to Qoos an aggregat paintena encome encome encome encome encome encom equiralent of RMB 70,000,000 (Seven Russial Net USD Stechly shill not except of equivalent of BAB 40,000,000 Four Eusked and Eriply Millon) long term loan facility pursuant to the provisions of the Second Loan Agreement.
观致已经与中国进出口银行、中国建设银行股份有限公司苏州分行,于 2015 年5月 12日签订了混合动力车型研发项目银团贷款协议("第二份贷款协议"). 其中第二份贷款协议中的贷款人同意按照第二份贷款协议条款向观到提供总计本金额等值人民币 700,000,000元(大写;人民币渠亿元整)的长期贷款,其中美元贷款额度不超过等值人民币 480,000,000元(大马:人民币鼎亿期任高元 (s).

() A a natina pressa for la semala mais ta facily relake fo (con, prusal bal consector and constitut in the "counter to ... (41 des 120 (2020). "Contact Control Control Cont

作为第二份贷款协议中的贷款人向观致提供贷款的先决条件之一,奇瑞已按照 2015年5月12日签署的《关于观致汽车有限公司混合动力车型研发项目等值人民币获亿元银团贷款协议之保证合同》("奇瑞再次保证合同")的条款和条件,为观致在第二份贷款协议项下的债务,提供不可撤销的无条件的连带保证("奇瑞再次担保债务")。

(1) Kom and Chry cocud a Curace Costant of 13 November 2015 (the "Securities" 2015 (the "Scom Kenni Garrante"), is visió Kenna grea lo provide an investide and usess to clarge for up to 50% of the Scound Chey Secured Inkbhuless under the Secured Chery Guarantee Deed. subject to the terms and costs the "Second Kenon Secured Indebtodness").

Kenon 和奇瑞在 2015年 6月9日签订了一份保证协议以及在 2015年 11月 13 日对此进行了修订("Kenon 再次保证合同"),Kenon 同意根据上述协议的条款和条件就奇瑞再次保证合同项下的奇瑞再次担保债务的 50%向奇瑞提供不可撤销的无条件的保证相保(受限于上述协议的条款与条件)("Kenon 再次担保债务")。

In containten of the provision also ploate in favour e Chery datod 2 December 2016 (th "Tirst Quarters Shor Pleage"). Koon and Chary the catered (3) into a release agreement dated 21 Decement"), ader which Chery apped to partially which Chery apped to partially relates coll garioss used the First Kena Guarane. The Innising parases obligations of Koron in riskins to the First Kesso Secured Indebedious under the First Kenne Guazatee are still ushject to the First Konn

签于量子于 2016年12月 21日向奇瑞提供了股权质押("量子第一次股权质押") ,因此 Kenon 与奇骑于 2016年12月 21日签订了一份解除协议("首次解除协议"),根据该协议的条款和条件,奇瑞同意解除第一份 Kenon 保证合同项下的部分保证责任。Kenon 首次担保合同项下与 Kenon 首次担保债务相关的其余部分担保义务仍然受制于 Kenon 首次担保合同("被保留的 Kenon 首次担保债务")

I is emilençialad that in consection with this Agremant, (à Qualtim and Wills Cherywill earlin contain bankedar loans to Qeos, (b) Quarter mill provide cortain eask uport 6) becar in class to Nula Clary's prosised flu cases (c) Quants vill futher creat entain first now need the of the entent ad Micked St written of Clers in Annex A and Amex B; and (d) Chery shall relase Kenen trom its guarantee obligations pursuant to the terms and conditions of this Agrement.

就本协议,各方拟议(a)量子和芜湖奇瑞分别向观致提供服东贷款,(b)就芜湖奇瑞提供的芜湖奇瑞股东贷款,量子将向奇瑞提供资金支持:(c)量子将根据于本协议日期签署或于本协议日期达成一致的部分股权感押协议(见随附联性 A 和附件 B) 的条款和条件为奇瑞之利益在其持有的观致的部分股权上设立部分第一顺位质押:(d)奇瑞将根据本协议的条款和条件解除 Kenon 的保证义务。

The Purcher Release And Cash Support Agreement 进一步解除及资金支持协议

IT IS AGREED as follows:

双方达成协议如下:

DETRACE 1.

解除

Release 解除 1.1

By catering into first A greement and subject to the Partiered of 2 (Consilition to Effectiveser) as ad ed below, Chery hardby with effective Dels (as befard beler) tulass tad tskirgs Kesse is passent in the in the Remails from Seurd Indial Mellers assemble in Pin Kenst Park in Pin Kenst Park in Pin Kent Partis (2010).
(1) is mai (being 54.51% of the Remaining Korea First Secured Internation, the secure principal annual is RMB 232,750,000), and (3) the remaining Second Kenn Secured But beded to the Second Kesse Quarates shall be 44.5% of the Kenn Second Indebtadess, under wich, the secured mineiral annum in PMB 15.750.000th: "Thut Further Release").

通过签署本协议并受制于下述第1.2条(生效条件),奇瑞在此于首次生效日( 定义见下文)起解除 Kenon 首次保证合同项下被保留的 Kenon 首次担保债务和 Kenon 再次担保合同项下 Kenon 再次担保债务(以下合称"Kenon 担保债务"), 以致在首次生效日及以后:(1)在 Kenon 首次保证合同项下的剩余的被保留的 Kenon 首次担保债务(以及在 Kenon 首次保证合同项下定义的总金额)应为人民币 272,550,000元(即,为被保留的 Kenon 首次担保债务的 54.51%,其中剩余的披担保的本金额为232,750,000元):及(2)在 Kenon 再次保证合同项下的剩余的 Kenon 再次担保债务为 Kenon 再次担保债务的 44.5%,其中剩余的被担保的本金 80为155.750.000元("首次讲一步解除")。

With the Second Elice in Line (at (a drine a lecturer), Children and of the Market (in the Kanns Counter Roles), Che First Fierlier Roles (" ) or "Ferher Roles", Inc "Ferler of double will effect from the Second Effective Date, all gaarantee of Kenns Guarantee and the Second Kessa Guzzates shall be released

自第二个生效日(定义见下文)起,奇瑞同意进一步解除 Kenon 首次保证合同和 Kenon 再次保证合同项下与 Kenon 担保债务相关的 Kenon 全部的剩余保证责任(" 第二次进一步解除",且"第二次进一步解除"与"第一次进一步解除"合称为" 进一步解除")。为避免疑义,自第二个生效日起,Kenon 于 Kenon 首次保证合同和 Kenon 再次保证合同项下的全部保证责任应于以全部解除。

1.2 Conditions to Effectiveness 生效条件

Chery kill notify Kenni in writing promply upon the following conditions (the dato of such writen notice is refered to at Section Deta"), a it Chery (a) falls to notify Kensa apon such satisfaries Date chall be deamed to occuration or the First Kense Remittance Date (a defined below). 奇瑞应当在下述条件均已满足的情况下以书画形式立即通知 Kenon(书面通知的日期为"首次生效日"),或者如果奇瑞未能在该等条件满足时通知 Kenon. 首次生效日应视为手首次 Kenon 支付日(定义见下)自动发生: one equity gledge has been daly exceled by the parties the relation to pleage of 5.165% equilty iskerests in Quose opisalies (with the value equivalian to RMB ம் 242,800,000 in the our of Chery in plation to the "Second Quantum Rouly Pleage (70 Nillion Louis) for purpose of discharging Keron's gauzates obligations in relation to the Second Inditedess in the ansunt of BMB 194,50,000 (make which, the related edigations for interests and fass shall be nicated procession in the selection answest of BME 194250,000, which to the terms and condition and be partis shortis shortis shortis shortis shortis shortis shortis agree, Chery will have the right to estere the equily pledge content whather the perfection formalities (including registration with relevant registration authority) is completed or not: 各方已透当签署了一份股权质押协议,受限于该协议的规定,量子为奇瑞之利益质押量子持有的观致 5.165%的股权(价值人民币 242.800.000元)(" 量子第二次殷权质押(7 亿贷款))以解除等值于人民币 194.250.000 元的 Kenon 再次被担保债务项下 Kenon 的保证责任《其中与利息、费用相关的支付义务将与金额为194.250.000元的本金支付义务一并按比例解除),且该协议双方同意,无论该质押协议是否完成完善手续(包括该协议在登记机关处的登记),奇瑞均有权根据本协议第2条的相关规定执行该协议项下的股权顾押: (5) a the causalian of the Second Quature Equily (70) Million Loas), an ansume of BMB 19425 million has becapudd by Kennel (be "First Cisk Supert Assuall") to an account of Chery as Asigning of Arming or otherwis agred by the Parties (the payment des a "Phich akal Market Bate")
(Karea keeby relingiskos ary clain it may have agant A Rested Amousl (at define) parusel to Classe of Rened Amore) below, 22 pppos of the Alanton to Construction of the colused propertionately with the released principal arnount of RMB 194.250.000). 在量子第二次股权质押(7亿贷款)签署后,为解除 Kenon 在被保留的 Kenon 首次被担保债务项下等值于人民币 227.459.000元的保证责任(其中, 其中与利息、费用相关的支付义务将与金额为 194.250,000元的本金支付义务一并按比例解除》已经向奇瑞书面或以各方同意的其他方式向 Kenon 指定的一个账户支付人民币一亿九千四百二十五万元("首次资金支持")(该等支付作出的日期应被称为"首次 Kenon 支付日")(首次资金支持被付入上述

奇瑞的账户后,Kenon 即放弃所有与资金支持相关的申诉权,但本协议第2 条(奇瑞支付返还资金的义务)中提到的 Kenon 获得返还资金(定义见下文) 的权利除外)。

@ Chery shall notify Kessa is writing peoply upos the salistics of the following conditions (De date of such willion solice is refered to a the "Secured to a the "Secured Bit Chery Sils to sotify Kann upos such satistictive Date shall be deemel to over assematically on the Second Kero Remitane Data (as defined below).

奇瑞应当在下述条件均已满足的情况下以书面形式立即通知 Kemon(书面通知的日期为"第二个生效日"),或者如果奇瑞未能在该等条件满足时通知 Kenon,第二个生效日应提为于第二个Kenon 支付日(定义见下)自动发生:

one equily platge has been daly excessed by the parties in relation to pledge of 1.02% equily interests in Qeoo by Quantum (with the value equivalent to RMB (1) -45, 25,000 in Server of Chery in relation to the "Third Quantern Equity Pledge (J Billion Loan)") Str purpose, logather with the Scend Cab. Supert Amount (as &fined below), of centrely dictions in guantee obligations under the Remaining First Keson Secured India the release of all wlated obligations for interns and ecolditions as provided thereis, and the partis therein shall agoe, Chery will have the right to enforce the equily plates costemplated the parketion formalites (including registration with relevast registration ashority) is completed,

各方已适当签署了一份股权质押协议,受限于该协议的规定,量子为奇瑞之利益质押量子持有的观致 1.02%的股权(价值人民币 48,125,000元)("量子第三次殷权质押(30亿贷款)"),连同下述再次资金支持,完全解除 Kenon 在被保留的 Kenon 首次被担保债务项下所有剩余的保证责任,且该协议双方同意,无论该质押协议是否完成完善手续(包括该协议在登记机关处的登记),奇瑞均有权根据本协议第2条的相关规定执行该协议项下的股权质押:

(1) ose equity piedge has been daily excelled by the paties there to plate of 4.14% agaily isterests in Qoos by Quantum (with the while equireless to RME 194,690,000) in favour of Chery in relation to the Second Loan Agraman Equity Predge (70) Million Lean), which (x) ho July Waich (x) ho July Warker with be Taird Quarters Equity Photo Point (10) Millia Last (1) Mga Trialer (1) Millio Lose) Mage (10) Millia Lose) bag nimi
l a "Quantus Redy Plejes (10 Millia Lasi)" (1) Millas Scaller (70) Millia (logeller with the sales of all relates and fees) subject to be tems and costlied herin, and be partis therein, and be partis thereal regist skillers. And the relax tegistrat completed,

各方已适当签署了一份股权质押协议,受限于该协议的规定,量子为奇瑞之

The Purcher Release And Cash Support Agreement 进一步解除及资金支持协议

利益质押量子持有的观致 4.14%的股权(价值人民币 194,690,000元)("量子第三次股权质押(7 亿贷款),该术语(x)与量子第三次股权质押(30 亿贷款)绞称为"量子第三次股权质押":(y)与量子第二次股权质押(7亿贷款)统称为"量子股权质押(7亿贷款)":(z)与量子第二次股权质押(7 亿贷款)、量子第三次股权质押(30亿贷款)统称为"股权质押"),以完全解除:Kenon 在 Kenon 再次被担保债务项下的所有剩余保证责任,且该协议双方同意,无论该质押协议是否完成完善手续(包括该协议在登记机关处的登记》,奇瑞均有权根据本协议第2条的相关规定执行该协议项下的股权质我。

(ii) a de couline of be This Quanter Equily Pades, a amon of Chillen (be "Seend Call Separt Annell", by the Patise (be Partis be Partise the Partise the Partise the Partise t sheald acouss of Chery, subject of laright to seeined below punus to claim it may hive againt it it and Start in por Rened Annest in por Rened Annesti in por Rened Annesm bel fee pares, together with the Tlert Quaturn Equily Pleage (1 Billboarder Michaging Kenns's guanates obligations under the Remaining First Keson
Source Industrials (optiber wi

在量子第三次股权质押签署后,Kcnon 已经向奇瑞书面或以各方同意的其他方式向 Kenon 指定的一个账户支付人民币一亿九千四百二十五万元("再次资金支持",与首次资金支持合称为"资金支持")(该等支付作出的日期应被称为"第二次 Kenon 支付日")(再次资金支持被付入上述奇瑞的账户后, Kenon 即放弃所有与资金支持相关的申诉权,但本协议第2条(奇瑞支付返还资金的义务)中提到的 Kenon 获得返还资金(定义见下文)的权利除外), 连同上述量子第三次股权质押(30亿贷款),完全解除 Kenon 在被保留的 Kenon 首次被担保债务所有剩余的保证责任,且该协议双方同意,无论该质押协议是否完成完善手续(包括该协议在登记机关处的登记),奇瑞均有权根据本协议第2条的相关规定执行该协议项下的股权质押。

2. CHERY'S OBLIGATIONS TO PAY RESTORED AMOUNT 奇瑞支付透还资金的义务

(i) If aller the date of the A greamst, Chery is any relevant lender under the First Chery Gurantes and such peyment would have realled in Kessen beceing liable to pay to Chery on account of the Remaining First Kenon Secured Indebtechess if the Further Release had not been effected.

如果在本协议日期之后,奇瑞被要求根据奇瑞首次保证合同对相关贷款人进行支付. 且该等支付已导致 Kenon 基于被保留的 Kenon 首次担保债务在进一步解除未曾发生的情况下应当向奇瑞进行支付:

() Chry shall give a written nat Qualitant to specify such payment which Kenn wold have been lible to pay to Chery if the Futher Rolase had not been effected (and such specified amount shall be referred to as the "3 Billion Loan Reduction Arsomat ");

	则奇瑞应当书面迎知 Kenon 和量子,如果进一步解除未生效,Kenon 区向奇瑞支付的该等金额(该等确定的金额应在通知中称为"30亿贷款减免额"):
	(i) Chary shall be required to deduct as anseast equivalent to the 3 Billion Loan Reduction Amount from Be Casa Supper Amounts, and
	奇瑞应从资金支持中扣除金额等于30亿贷款减免额的款项。
	(i) Clery shall be entiled to cafeer the Titled Quarture Equity Pledge ( 3 Allion Loas) in accedance with the tems the remaining I Billion Loan Reduction Amount after deduction made under the above 2(a)(in)
	奇瑞有权根据质押协议的条款就根据上述第24a)(ii)条做出扣减后剩余的 30 亿贷款减免额损行量于第三次股权质押(30亿贷款)项下的质押。
	(i) If the five date of this Agreement, Chery is any relevant lender user the Second Chery Gazantee and such pyreent would been beceming liable to pay to Chery on account of the Second Kenon Secured Indebtedness if the Futher Release had not been efforted.
	如果在本协议日期之后,奇瑞被委求根据奇瑞再次保证合同对相关负责人进行支付. 且该等支付已导致 Kenon 与于 Kenon 再次担保债务在进一步解除未曾发生的情况下应当同窗瑞进行支付:
	() Chery dail give a written were to Kenn and Quantum to specify such payment which Kerson would have been if the Parther Rrises nat not been effected (and such specified amount shall be referred to as the "700 Million Loan Reduction Amount");
	则奇瑞应当书面通知 Kenon 和量子,如果进一步解除未生效,Kenon 应向奇瑞支付的该等金额(该等确定的金额应在通知中称为"7亿贷款减免额"):
	(1) Clery shall be catiled to catore the Quantan Equity Products (70 Million Loan) in accordance with the tarm thereof with respect to the 700 Million Loan Reduction Amount
	奇瑞有权根据质押协议的条款就 7亿贷款乘免额执行量子股权质押(7亿贷款) 项下的质押。
	() If in reset of the First Loan Agreement on the following condition is tripped. Chery shall notify Kesso in writing peemply and inst pay be I Billion Loan Restored Amount in casa of the tetal amount of the 3 Billion Loan Reserve Americal second the Cash Support Amouss, Cary that release the Third Quatum Equity Prodge (3 Billion Loa) to cover any excessive ancess of the Restored Amount against the Cath Support Amount:
	若,就第一份贷款协议或奇瑞首次保证合同而言,在以下任何情况发生时,奇瑞应应即通知 Kenon,并先行以现金向 Kenon 支付 30亿贷款返还金额,若该等30 亿贷款返还金额的总额超过 Kenon 是供的资金支持总额,奇瑞应解除量子第三

次股权质押(30亿贷款)以返还该特返还金额超出资金支持的差额部分;

() any annuals owing to the landers ander the First Loan Agnerman have been repaid in part of this Agreemont(the " 3 Dilling Loan Rogal Amount"); 第一份贷款协议下的任何贷款金额在本协议日期之后已部分或全部清偿("

30亿贷款偿付金额"):

(1) any guaranted obligations of Chery with respect to the First Chery Guarante here been ciber released or performed in performed in performed in part of in fill (the " First Chery Guarantee Released Amount");

奇瑞根据奇瑞首次保证合同在第一份贷款协议的任何保证义务已被部分或全部解除或者履行("奇瑞首次保证解除金额"):

For the purpose of this paragraph, "3BBen Leansar" shall be equal to the amount of 25% of the 3 Billion Loan Repair of respect of resumo (in respect of resumo (i) above) of 50% of the First Chery Quarantes Released Amount (in respect of somanio (ii) above).

为本段之目的. "30亿贷款返还金额"应等于30亿贷款偿付金额的 25%(涉及
上述第6)种情形)或等于奇瑞首次保证解除金额的 50%(涉及上述第60种情形)

(@ II, in respect of the Second Loan Ageonal Check Chery Gazzanee, any one of the Sillowing conditions is triggered, Chery Mall relate (Poly Holger (700 Million Loan) to cover any 700 Million Loan Restored Amount

若,就第二份贷款协议或奇瑞再次保证合同而言,在以下任何情况发生时,奇瑞应解除量子股权质押(7亿贷款)以覆盖该等7亿贷款返还金额:

ary anounts owned to the lender the Second Loan Agreement have been repaid in part of this Agreemant. " 700 Millia Los Regals (3) Amount");

第二份贷款协议下的任何贷款金额在本协议日期之后已部分或全部清偿(" 7 亿贷款偿付金额");

(1) any guaraties deligions of Chery with repect to the Second Loan Agreement pursual to the Second Chery Guander have been either relass or part or in full (the " Second Chery Gusrantee Released Amount");

奇瑞根据奇瑞再次保证合同在第二份贷款协议的任何保证义务已被部分或全部解除或者履行("奇瑞再次保证解除金额"):

For the purpose of this paragraph, "700 MIKes Loader" stall be ogal to the annual of 50% of the 700 Million Loar Repair of Section (i) above) or 50% of the Second Chay Guantee Released Amount (in respect of seemano (i) above)

为本段之目的. "7亿贷款返还金额"应等于7亿贷款偿付金额的50%(沙及上述第(i)种情形)或等于奇瑞再次保证解除金额的 50%(沙及上述第(i)种情形)、

() Chary shall return all the Cash Suggest Annous account of Chary as provided for in Classe 1.2 (Conditioner on Effectivened) back to Kenco and roleas all the Equily Pledges if at any line Keson provides guarantee back to Chery to reinstals the guarantee obligations release.

如果 Kenon 在任何时刻向奇瑞提供反担保以恢复于进一步解除项下解除的保证责任,奇瑞应向 Kenon 返还根据 1.2条(生安条件)付入奇瑞账户的所有资金支

持,并且应解除所有股权质押的全部股权质押。

() Fer availance of dobt, any payment of 1 Million Loas in rupet of sematio (c)() and ary elease of the Quantan Equily Pledges (700 Million Leasin respet of securio (@(i) that that by Chery twice a year on 31 March and 30 September respectively following of this Apremises, if agglicable by relaring to the effective eireumstances.

为免疑问,就(上述(c)(i)所述情况而言)30 亿贷款返还金额的任何现金支付及(上述(d)所述情况而言)量子股权质押(7亿贷款)的任何解除应由奇瑞在本协议签署后每年的3月31日及9月30日在适用的情况下视届时有效的情形作出。

1 FURTHER ASSURANCE

进一步保证

Chery will, at the request and cost of Kenon, take actions which is reasonably necessary to the Further Release.

奇瑞将按照Kenon的要求为Kenon进一步解除采取合理需要的行动,相关费用由 Kenon永担。

LANGUAGES 4

语言

This A personal that be executed in English and Chines is any discripancy between the English and Chinese venions, the English version ball persion ball persion ball persion

本协议应使用英文和中文签署。若英文文本与中文文本存在不一致,应以英文文本为准。

GOVERNING LAW AND ENFORCEMENT 4

管辖法律及执行

5.1 Governing law and disputes settlement

管辖法律和争议解决

This Agreement is goversed by and essirud in all respects in accedines with the lars of the First Kense Granses aball apply to this Agreement as if let est is fill in this Agreement with references to "this Guarantee Contract" being treated as effermes to this Purker Release A greement.

本协议的所有方面均受中国法律管辖并据此解释。Kenon 首次保证合同第 19条之规定透用于本协议,如同该条款已全文列载于本协议,所有提及"本保证合同"之处均视作提及本协议。

52 Counterparts

文本

This Agreement may be executed in any number of counterparts.

本协议可签署任何份数的文本。

ﺔ PROFE

分析

Kenn plan of incress and in huish invir envir more of the bank of the manuf on them. Quornan al Quor (be "Sheal Or Sheal Or Sheal Or Sheal Of Top of Life in Christian of Scor

Kenon 计划分拆其部分业务,分拆可能包括对 Kenon、量子及观致股权结构 ("分拆")以及芜湖奇瑞特有的观致权益结构的重组。拆分可能包括(除其他事项外)Kenon 就其持有的量子的全部权益对 Kenon 的股东进行分配。Kenon 将提供分拆的细节,受限于奇瑞董事会的审批,奇瑞将支持该进程。

THIS MGREMENT has been exceuted on the date stated at the beginning of this Release Agreement.

本协议于文首所述日期签署。

SIGNATORIES 签字页

Kenon Holdings Ltd.

Name/姓名: Yoav doppels
Position刷狗: CEO Signature/224. Pygers Signature Pages to Further Realease.

Signature/整体: AM M M S
Company Seat /公寓: March 9, 2017

附得"A

Release Agrement

Annex A to Further Release and Cash Support Agreement

Quantum (2007) LLC (作为出质人) Quantum (2007) LLC (as "Pledgor") 奇瑞汽车股份有限公司

(作为质权人)

Chery Automobile Co. Ltd.

(as "Pledgee")

与30亿贷款相关的第三次股权质押合同

The Third Equity Pledge Contract in relation to Three Billion Loux

二0一七年,月日

本第三次股权质押合同于 2017年——月_____________ 日由下列各方签订:
This Thin Equity Pledge Costract is enterad islo co co . 2017 by asd between:

1 Quantum (2007) LLC,一家依照美国特拉华州法律设立和存续的有限责任公司,其法定地址在 16192 Coastal Highway, Lewes, Delaware 19958, USA, 作为出质人(以下称"出质人"): Quarten (2007) LLC, as the piedger, a limized librity company incorporated wall the laws of be United Sates of America, with is legal alless at 1512 Countal Highway, Lewes, Delaware 19958, USA (hercinather referred to as the "Pledgor");
2 奇瑞汽车股份有限公司,一家根据中华人民共和国("中国")法律合法成立并存续的有限责任公司("质权人")。 Chay Asternoble Co., Ltd., a limited librid y carpay daily cositing under the lars of the People's Republic of Cain (the "PRC") (the "PRC") (the "PRC") (the "PRC") (the "PRC"

鉴于:

WHEREAS
Kenon Holdings Ltd.("Kenom")为出质人的母公司。 Kenon Holdings Ltd. ("Kenon") is the parent company of the Pledgor
2 观致汽车有限公司("观致汽车"或"观致")已与中国进出口银行("进出口银行"),中国建设银行股份有限公司苏州分行以及贷款协议所列多家贷款银行于 2012年7月23 日签订了一份合同编号为 YT41121230018 的等值人民币叁拾亿元人民币/美元双币种固定资产银团贷款协议("第一份贷教协议")。根据并受限于第一份贷款协议的相关条款与条件,第一份贷款协议中的贷款人同意为观致提供总金额不超过价值人民币参拾

亿元(RMB3,000,000,000,的人民币/美元双币种长期贷款。

Quos Autencive Co., Ltd. ("Ques Antension" or "Quesda RMBUSD dual cursery facility agreement for firestmass with an aggregle Sailly anount op to an aqivalent of RMB) billion (be "First Frankel") video Mr. YT41222008 na 27 July 2012 with The Rest Park Plane (Clisic Clair Costs Costinor)." Che Remoch, Chic First Lond Area lenders in the First Loas Agreement agreed to the Qeres Astorostive a long term loan facility in an aggregate answards except as equivaled of B.RB.(00,000,000 (3 billion) in RMB/USD dual currency.

1 作为第一份贷款协议项下的一项先决条件,质权人于2012年7月23日签订了一份合同编号为 YT41121230018(A)的保证合同,为观致在第一份贷款协议项下 50% 的债务(债奇瑞首次担保债务"瑞提供不可撤销的无条件保证相促。 As a costition product under the Find Lon Agree entered into a guazates ded will contract No. YT412229018(And And 23 July 2012 or profile an invoable

and uncessfitional guarantee covering 50% of the internstive user the First Loas Agreement (the "First Chery Scarrel Indebelaes").

Kenon 与质权人于 2015年 11月 5 日进一步签订了一份保证合同(进 Kenon 首次保证合同"次保根据该合同 Kenon 同意就质权人首次担保债务的50%提供不可撤销且无条件的保证担保,该保证担保的上限为 Kenon 首次保证合同规定的总金额(次Kenon 首次担保债务"次。 usematine folio lo the Pint of the Pint Kenn Garanter " datal 1 Nevel be 2017 persones with Kenn apsed operidan in reved or revide and M defined in the First Kenon Guaranton
s 观致已经与中国进出口银行、中国建设银行股份有限公司苏州分行,于 2015年5月12日签订了混合动力车型研发项目银团贷款协议("第二份贷款协议"),其中第二份贷款协议中的贷款人同意按照第二份贷款协议条款向观致提供总计本金额等值人民币700,000,000元(大写:人民币集亿元整)的长期贷款额度,其中美元贷款额度不超过等值人民币 480,000元(大写:人民币肆亿捌仟萬元整)。 Onno Automotive lass signed a Creaming Princed of Research and Development of Frid Modiller "Stoned Lon Agerman" on 12 May, 2015 with Ser Elyort Lapon Bake of China, Casino Back Co., Starter Rand Million) and revient Learner (news are mails waller of the maintenses to mainten an Paralat of Partistat o RMB 40,00

Fundred and Eighty Million) long term loan facility pursuant to the previsions of the Second Loas Agreement.

6 作为第二份贷款协议中的贷款人向观致提供贷款的先决条件之一,顾权人已按照 2015年5月12日签署的《关于观致汽车有限公司混合动力车型研发项目等值人民币染亿元银团贷款协议之保证合同》("奇瑞再次保证合同")的条款和条件,为观致在第二份贷款协议项下的债务,提供不可撤销的无条件的连带保证("奇瑞再次担保债务")。 As a condition precident for the Second Loan Agreems to make the Sectility available for Qecon Assemble, parsual to the terms and conditions set Sch is the "Guanter Costart for BMB O P Billion Courses concerning Price of Research and Deville Market Co. LA" Caled L2 Mar 12 Martel 2 Mar 12 Martel 2 Mar 12 Martel 1 Agreement (the Second Chery Secured Indebtedness") 2 Kenon 和质权人在2015年11月13日签订了一份保证协议以及在2015年6月 9 日对此进行了修订《"Kenon 再次保证合同"》,Kenon 同意根据上述协议的条款和条件就奇瑞再次保证合同项下的奇瑞再次担保债务的50%向质权人提供不可撤销的无条件的保证担保("Kenon 再次担保债务") Kensa and Inc. Politics ceculad a Guanter. 2015 at amoded to of 9 Just 2015 the "Securel Kinst Gurante"), while which Kessa agres to povide as invesable and [email protected] guazatee to the Pleages for your the Second Chery Secured Chery Guazates Deddite "Soonal Know Searnal Indebtedness") 8 鉴于量子于 2016年 12月 21日向观致提供 2 亿 5千万人民币的股东贷款, 量子于 2016年12月21日向质权人提供了股权质押《"量子第一次股权质押"),因此Kenon与质权人于2016年12月21日签订了一份解除协议( "首次解除协议"),根据该协议的条款和条件,质权人同意部分解除 Kenon 首次保证合同项下的部分保证责任。Kenon 首次保证合同项下与 Kenon 首次担保债务相关的其余部分担保义务仍然受制于 Kenon 首次保证

合同("被保留的Kenon 首次担保债务")。

In consideration of the RMD2.9m sharehelder loan by Quarter to Ques dated 21 Devenber 2016 and provision of quartum in there of the Plodged and 21 December 2016 (the "Fert Quatum Share 21deg"), Kesse and the Products agreemant data 21 December 2016 (Be "Bra Release Ageration 7), puralied of liet is main continue the Pier, agreet to perially release More the First Kenn Gurantee in First Kenns Guranter is oill olycet to the First Kens Gua (the "Remaining Hirst Kenon Secured Indebtedness").

9 量子和芜湖奇瑞于[ ]年[ ]月[ ]日以相同的条件同时向观致提供了第一部分一定金额的股东贷款(分别称为"量子第一部分股东贷款"和 "芜湖奇瑞第一部分股东贷款",统称为"第一部分股东贷款")。在第一部分股东贷款发放后,受限于量子的独立决定权,量子和芜湖奇瑞将以相同的条件在本协议日签署日前后向观致提供第二部分一定金额的股东贷款(分别称为"量子第二部分股东贷款"和"芜湖奇瑞第二部分股东贷款",统称为"第二部分股东贷款"二。就芜湖奇瑞第二部分股东贷款,量子将向芜湖奇瑞提供资金支持。 Last", ask ollerly, be "Tracked the rance" (see not he man email and the "Tracke A Quantus (and to "Tracked Mind "Tranche" and the "Tranche" with in "Tracked A bronia" wild a Quarten and Wals Chery will and provide transfer, being respectively refered to as the "Transh B Quanters Loss" and 'and ' and the "Trance B Wall Chery Lood of lettively, the "Tracked BLARK") to Qero on about the Agreenent and with the same terms. Qualtum will previde estain cash supper to While Chary in relation to its provision of the Tranche B of Wahu Chery Loan 10 基于 Kenon 的申请,考虑到第一部分股东贷款、第二部分股东贷款的安排以及其他前提条件,与本合同相关,质权人与 Kenon 于[]年[]月[日签署了一份进一步解除和资金支持协议("进一步解除和资金支持协议"), 并同意根据该协议的条款和条件进一步解除 Kenon 在 Kenon 首次保证合同和 Kenon 再次保证合同(合称"Kenon 保证合同")项下与被保留的 Kenon 首次担保债务和 Kenon 再次担保债务(合称"Kenon 担保债务")

相关的所有保证责任("进一步解除和资金支持协议")。

As requested by Karm and considering the arrangement of the Trans. B Loase and the provision of the other enddios, in consection with his Contract, the Padge collect in a futher nices and can begon a promote on [ ] , and furning to be mind chigation in the Remaintel ", and the most consisted indebted (ing with the Remaint First Kenn Secural Internet as to be "Kasm Searcal Indentified on Outset Charles Councer (the "Purker Relate and Could Coulser (the "Purker Relaxer and Agreemant").

11 作为进一步解除和资金支持协议下再次解除相关担保义务的前提条

件之一,出质人同意订立本第三次股权质押合同且出质人同意根据本

第三次股权质押合同的条款和条件为质权人之利益在质押股权上设立第一随位后押。

As no of the conficious present to the relevas grantes of the Release and Cash Science As Canada Salas Sales Sales Sales Agresment cesto a Sist product cessare a fist pioder Equity in favour of the Pledges.

12 作为进一步解除和资金支持协议下再次解除相关担保义务以及芜湖

奇瑞提供芜湖奇瑞第二部分股东贷款的前提条件之一,Kenon 同意向质权人支付人民币194,250,000元("再次资金支持金额")。质权人同意在进一步解除和资金支持协议中双方同意的条件下对 Kenon 进

行支付。

As the condition precedent to the relevant guanter chilgations purvant to the Futbase and Cash Support Agreement and provision of Trans B Walu Cary Loa, Koro alal pay BMB! 425 filiza (be "See and Coll Supert America (10 the Parler Balland the Futlar Relase and Cabi Supert Ageonest

为此,双方立约如下: Therefore, both parties agres as follows:

第一条定义及解释 Definition and Interpretation

涂冰股权质押合同另有约定外,在 Kenon 再次保证合同中定义及解释的术语在

木旧板网外可中使用时应 (4) 与儿子 Kenne 再次保证合同中相同的合义 .
Dails okewise portist in the Eastler, who the tems stempted and Arthed in the Second Kents Countnie as sustin this Thir This Epa

第二条质押股权 Podged Equity

21 出质人以其持有的观致 1.02%的出资额股权(以下简称"质押股权") 质押给质权人,为 Kenon 于 Kenon 首次保证合同项下的,并在进一步解除和签金支持协议项下于第二个生效日(定义见进一步解除和资金支持协议)解除的等值于人民币 45,091,000元的所有义务和责任提供质押担保。"质押" 指由本第二次股权质押合同明确设定的担保,包括投予或将授予质权人的对质押股权所拥有的所有权利、所有权和权益。受限于下述第910的规定, 如果出质人及进出口银行计算出的用于计算银团贷款(于下文定义)中要求质押的股权的质押率对应的净资产发生变化,则质押股权予以相应调整,且质押股权对应的金额(以及在适用范围内质押股权的解除)应根据该等质押率(计算方式与出质人及进出口银行根据银团贷款的计算方式计算)调整至 80%。为免疑问,量子根据本合同的任何规定提供的质押股权在任何时候均应受限于其所持有的未设立权利负担的股权(定义见下)。

Te-Pielges to the Platin Continue of Child by the Creat Autender neared to ask "Zalgallerel") is ale to assemble se be Service (set in the blood Elicitive Datable amust quirelax of ME 4,001,000 (0k "Median") - Tridge" mans be ecasily careerd by this This Picil This Charles (including in chips) of the sential of a clangs in the calcularia by the Roaler and walls for called in caller rails ratio tas to the capity high seal be (exholos (an (editor) (an the loss to valentio (calculad Pleager and Esim Basic pursunt to the Spaint of St M. For arelance of any both, the Ploage Equity as provision of this

22 质押股权指出质人在质押股权中及对质押股权所拥有的所有权利、所有权和权益,包括但不限于下列权利内容: The Prodged Equily meass all of the rights, tifte Pledges in and to the Pledged Equity, ischuling but without limitation to the following rights. (1) 受限于第 6条之规定,出质人有权从观致收取的与质押股权相对应的所有分红及其他任何性质的与质押股权相关的款项及相应的权利及利益: Subject to the provisions costained in Atticle 6, all divised generaled from the Pledged Equily and the consporting tights addinterest in respect of the Flodged Equity, which the Piedgor shall have the right to collect from Qooo! Auto @ 受限于第 6 条之规定,出质人在关于设立观致的中外合资经营合同(" 合资合同")及观致的章程("章程")项下就质押股权应享有的其他方所做出的任何保证、确认和承诺所对应的权利和利益: Subject to the persisiand in Article 6, the corresponding tights and intensts of asy waranty, admonth made by assister party which the Pledge. suber be resplated on Arters, on consponsible and more of any minding section and commissions commissions and by assume model of Second por Partin Personal Partin Partin Part 0 受限于第 6 条之规定,出质人就质押股权在观致的合资合同和章程项下因任何其他方的任何违约而享有的任何要求违约赔偿的权利。 Sablect to the prosisons consisted in Article 6 any the Photos in respet of the Plain for default compensation asising as of adalt by any other 2.3 触发事件 Trigger Event "触发事件"在如下情况下发生:(i)质权人已经依据任何奇瑞保证合同向对应的代理行付款,并且,该金额为 Kenon 原本于 Kenon 担保合同项

下与 Kenon 担保债务相关的应当补偿的付款(且受限于 Kenon 保证合同

项下关于偿付的所有规定),但是由于进一步解除和资金支持协议, Kenon 不再承担 Kenon 担保含同项下的付款责任("进一步解除的担保金额"),且(ii)在 Kenon 收到就该等支付义务发出的有效书面通知后 30个营业日内,质权人不能收到这些金额。为避免疑义 Kenon 就进一步解除的担保金额无义务向质权人或任何其他人士进行任何支付,且未进行该等支付不得构成 Kenon 于进一步解除和资金支持协议、Kenon 保证合同及其他协议项下的违约责任:然而,该等未予支付仅导致出于本第三次股权质

押合同第11条之目的规定的"触发事件"。

A "Trigger Ivan" all occurane of (i) the Plann and to the release and to the mater and the end the end the ecoldiers (and of the email of the email of the email of the email Oparates) bet which Kanns was to longer lish to pay under the Keson Gazanter as a result of the Further Release and Cabi Supert Agermant (Sc "Purther Relassed Gazrate Annual") , and (i) Be Pleige not Laring received use an entre Researces a valid willer notice from the Prolument for the avoidaed datab, Kene no ele paties to mail any pyrims to the Peager or any ohn to Perlier Relaed Charades Anavata da filiar to py such in Tigg Event for purposes of Article 11 of this Third Equity Pledge Contract.

第三条担保范围 Scope of Security

31 质押股权依据本第三次股权质押合同所担保的主债权在任何既定时间内(

以下简称"主债权")为:Kenon 于 Kenon 首次保证合同项下的,并在进一步

解除和资金支持协议项下于第二个生效日(定义见进一步解除和资金支持

协议)解除的等值于人民币 45.091.000元的所有义务和责任。

ov V. " Pressed by to Product Tour Siti Title Centre Mall be al any given im Louisate ested on the "Mat Crailer Lighter Palass (ader Caliber Lights (Reise Rolas Lab Super Agreement on the Second Effective Date in the amount equivalent of RMB 45,091,000.

32 质押股权依据本第三次股权质押合同所担保的范围为下列各项之和(以下

简称"被担保债务"):

The scope secured by the Piedged Equily ledge Costant stall be the sum of the following answars (hercisatier relized to as the "Secured Indebtedes")")

(1) 主债权及因主债权产生的相关利息(包括但不限于任何利息,复息及违约利息):

The Main Creditor's Right and the interests (including but and linked to any interest, compossible interest) assising out of the Main Creditor's Right,

(2) 质权人为实现本股权质押合同项下的担保权益而发生的所有必要且合理的费用(包括但不限于诉讼费用、财产保全费、差旅费、评估费、拍卖费、律师费用、公证费用、执行费用等)以及出质人根据本股权质押合同应支付的任何其他必要且合理的款项。 cost, propury reservation fes, task of the moint tos, attensity the interest of sees of the electronic (issue) for accuses (includes to learsely and essessed to fous which shall be borne by the Pledgor in accordance with this Third Equity Pledge Contract. 33 本第三次股权质押合同项下被担保的主债权的履行期限为自奇瑞再次保
证合同或 Kenon 再次保证合同生效日(以较早者为准)起,自奇瑞首次保证合同项下奇瑞首次担保则限之后十(10)日,或者质权人履行了奇瑞首次保证合同项下质权人所欠的奇瑞首次担保债务之后的两(2)年,以较晚老为准。

The performance tem of the secured Main this Thit Equity Pledge Costant shill contract from the offectivess of the offectives of the Second Cherry Gurantes of the effecire date of Second Keam is antile, mill teat (1) days a first Chary Guantes tem add the First Chery Guasse, or two (2) your a first

3.4 对于质权人用于表明任何被担保债务(经观致盖章确认的对账单等)或出质人在本股权质押合同项下应付的任何款项的证明,除非出质人提供充分有效的证据证明其存在错误,应是质权人与 Kenon 或出质人间债权债务关系的

最终证据,对出质人具有约束力。

For asy certificals research by the Plates any Secured Individess (i.a. statemat of account in promotive upon confimation) or any any around pyoble by Sn Flodge walts This This Costant unlast is the loss is alle to provide ufficial ask theire enderse misker, so the in contrass miskes, soch orfitiates to be Findger,

第四条担保的性质和效力 Nature and Effectiveness of Security

41 出质人在本第三次股权质押合同项下的担保义务通常具有连续性,出质人的担保责任仪在被担债务得到清偿时为止,并且不受出质人的股权结构, 组织结构或业务经营的任何变更的影响。然而,如果在观致汽车下一会计年度的经审计财务报表以及此后的每一会计年度的经审计财务报表作出后 (应在 2017年第一季度之后),(i)根据 12 亿人民币贷款("银团贷款" )之股权质押合同(指由出质人与中国银行股份有限公司苏州分行间签订的观致汽车有限公司 C 平台衍生车型研发项目等值人民币壹拾或亿元银团贷款之股权质押合同)出质人被要求向进出口银行、中国银行股份有限公司苏州分行以及兴业银行股份有限公司苏州分行就股权质押合同项下的质押进一步提供额外的股权质押《"额外质押股权"),且满足该等额外的质押只有质押本股权质押合同项下质押的全部或部分股权,(ii)出质人无法通过对观致汽车贷款的转换获得该等额外质押股权("贷款转换"), 则本股权质押合同项下全部或部分股权的质押(金额等于依据银团贷款应予以质押的额外质押股权、但无法通过贷款转换获得的数额)将自动解除且质权人应采取一切可能要求采取的措施向有权机构解除该等质押,但前提条件是在该等解除后,根据进出口银行、中国银行股份有限公司苏州分行以及兴业银行股份有限公司苏州分行的同意,质权人有权对该等股权要求第二顺位质押。如果出质人根据前述规定被要求出质额外质押股权,且根据前述条款规定解除质押的观致汽车的股权不足以向出质人提供足够的观致汽车股权以满足额外股权质押的要求,则在该等不足的范围内质押任何借出股权(于下文定义)(不论该等借出股权是否已质押给贷款人), 质权人应按照出质人的要求向出质人返还为设定有关额外股权质押所须的借出股权。如果出质人被要求的额外质押股权少于 8%的观致汽车股权,且届时出质人

有足够的未设立权利负担的股权,如果进出口银行同意(已考虑到本股权质押合同),质权人有权在出质人持有的、未被质押的观致汽车股权的1%

的范围内("借出股份"),将出质人的该股权依据芜湖奇瑞汽车投资有限公司与中国银行股份有限公司苏州分行间签订的观致汽车有限公司 C 平台衍生车型研发项目等值人民币营拾贰亿元银团贷款之股权质押合同,提供进一步提供额外的股权质押给进出口银行、中国银行股份有限公司苏州分行以及兴业银行股份有限公司苏州分行。为免疑义,如贷款人按额外股权质押条款处置了额外股权质押项下的借出股权,出质人不得向质权人就借出股权追索,前提是该等被执行的股权应抵销本股权质押合同项下另外要求出质人予以质押的一笔相等的金额并相应予以解除。

该等借出股权应于贷款人解除有关额外股权质押后在合理可行的范围内尽快返还出质人。如果该等借出股权未在有关解除后被返还,且质权人要求行使其于本股权质押合同第 11.1 条项下的权利时,其应在行使该等权利前返还借出股权,如果未能返还,借出股权应视为被质权人保留且该等被保留股权应被视为代替质押股权(在借出股权的范围内)且在任何质押股权上设立的质押如果不再根据第 9.10 条规定的质押率的要求被质押,则该等质押股权应予以解除。

Overally, the Podget's security doily this Equity Pedge Centract is el continuity wherein the security responsibility of the Prodger call be released call which the Secured issuase of the auther has and the charles and the charter, cergations or consisted by the courses courses courses contracted and magines on the Presses contraction in D Se Poder i required by the 1 2 billion RMB loans on the Equity Plates Cantract for 1 2 Billion RMB Engineer Smallent Spalicated Laur ") cossering Project of Ranach and Devision Desivative Mokil of Qoos Automotive Co., LA by asd between the Florger and Bank of Chisa Limital Se Zou Branch, to revile as additional equily pledical Shares") esseming its equily in Ocos Autensive to Exim Bask of China Lindia Su Zou Brand, and Indust Bank Co., IA, Sa Zinu Branch adlitional photo and be cansider of Bestane and pelin hich bean plage (and Mark (api.) Program ("Lan Canada"), Cham Canada ("Lans Canada") to all or uch perties of play the Risky Plodge Costzel, in as amoust quil to the mater of Addical Plodged Share required to be plained Loas and which cased be obtained through a Loan Courses and assisted by be released and the Pisteres as may be registed to densive the same be bedge with the corpental andrea, provided that not nies in the light treasura second pical program of valise of the coases of Essen Dates Mational Plated Saecupaus to Seconomi saless and be quiry interest in Qeront to be feegoing entesse is as a filiciat is not afficial in provident of which in the belied believ (egentless of which in the sever of piedged to the Lades ), the Piedges shill, upon request from to Program to Program Shans required for effecting the relerast addional equily plade.

If the Additional Pletged Shares regented to be provided by the Pleiger cover less than 8% equiry interest in Qrease in entificient Unnesment Stars (a.dr.in (1) and Pleter (1) in 1970) and (1970) and to the Plain (1978) in Photogram (1970) in 1970 in the System (1970) in the System (1970) in the Systeming Restants as a legary in Qoos America Model of Qeon Amand Co., Ltd. by and between the Peders Sof Zanel Social Color, Soldinial Resir, For De svelanes (Cat., Ltd, Soul Breach, addition agains to Photos of the Benewed Share, povided to be tems of be addition, by theirest so entered that the model, the may on interests otherwise required to be pledged by Pledgor under this Equity Pledge Contract.

Stab Becomed States shall be reazed to the Pedershy procisable after with Borcoved Stares have been relaxed by the Leders from the releval additional o exceler, To de extent lates are are an estade and an enemal and Pelope secure in and maintend in the comment in the coment in claimed alservalent in claimed alservation in Equiry (o the exerce of the Berning 10, 2011) entered.

在不影响进一步解除及资金支持协议中第2条的规定的情况下,即使本股权质押

合同有任何其他提定。如果:
"Without priyation to the cluses and Gub Support Apsement, and netwitshanding ary chec provision at tams of the Third Equily Plotge Coract, it

1.Kenon 向出质人就圆行主债权项下的全部义务的履行提供与Kenon 保证合同中

条款和条件规定实质性一致
Kinon pridas the Plages with guazase eculty with repect o prismanes of all the obligation under the Main Credition and condizion as those set out in the Kenon Quarantons; or

2 主债权已被全额清偿成解除, the Main Creditor's Rights have been satisfied and discharged in full,

则(1)被质押股权应从本第三次股权质押合同中自动解除且质权人应按要求向

出质人返还被质押股权(以及全部借出股权). (2)出质人于本第三次股权质押

合同项下的全部支付义务应被自动全部解除,且(3)本第三次股权质押合同应自动终止。

Best () be Foder Evelly viel be assembled by Pedge Contact and be Pleage registed on em ber Please (Endy (pate ill Base) (best it ed () this Thic Begin Piedge Contact ball b sutomatically terminated.

42 本第三次股权质押合同的效力独立于 Kenon 保证合同,其不因 Kenon 保证合同无效而无效。

The effectiveness of this The Equily Plotter is internation This This Equity Redge Costact issues inville de to issual issues inville dat invalidation of the Kenon Guarantees.

43 Kenon 和质权人在协商后可协议修改、补充 Kenon 保证合同的条款,而无需征得出质人的同意。出质人将在变更后的债权的范围内承担担保责任,

但! 加工程师人类 | 任付付付/设/外。
Kenna as B. Pleage my sensed or with the Kens Cuannies upon negotizion without its couses of the Fredger. The Fredger Anthe Proget. The Proget Antil und

44 本第三次股权质押合同的效力以及本股权质押合同项下履押的效力不受出

质人或其他任何人的清算、合并、分立、重组、破产或是其他形式的股权

结构、组织机构的改变或是对 Kenon 的债务所作的任何其他安排的影响。 The effectivess of this This Engly Pedge Costant and the Thir Thid Equity Piridge Contact that be affected by liquilation, me ger, ppin-off, estraction, basksuptcy or shareholding or organization of the Pindger or any other person or any other arrangement mades to Kench's debts.

45 除进一步解除和资金支持协议下的资金支持安排外,出质人在本第三次股权

质押合同项下为被担保债务提供的质押为一项独立的担保,不应被理解为与

任何第三方就任何 Kenon 保证合同所提供的任何其他担保构成一项连带担

The Rodes profiled by be Pleager for Secured Institution in the production set in the mail and in interest and control as internet and Cub Suppert Apremati

第五条质押批准和登记 Pledge Approval and Registration

51 质权人及出质人应当于本股权质押合同签署后二十(20)个营业日内将股权

质押记载于观致的股东名册中,并按照中国法律、法规的规定,开始向观

致的主管商务委员会办理本股权质押合同的批准手续(如需),并在其后向

观致的主流工商行政管理部门小里大使人民网 | 小说:
The Plage and Plegs and Region Proper of Station Province Cominer Communitation Plats Corbi
ad Comments provises for Inde Comers in comment Commune regulations of the PRC.

ાક

52 出质人应当于按照本殿权质押合同约定办理顾押股权的批准和登记时,将质

押股权的他项权利证书及相关物权凭证(如有)交质权人保管。被担保债务

被全部清偿后的十(10)个营业日内,随权人应将上述文件原件退还给出质人,

并协助出质人办理注销出质登记的相关手续,由此发生的费用由出质人承相。

Wasn the Pedger processes the apporal and the Philiped Equily accessing to the prosises of this Tish Equity Prodes Costad, the Pedger shall deliver to De Proge of the centified of the right of the Pedged Bariy and eitheas of propris riphe (f.ag). Wilein on (10 Business (10 Business Bounce Box a 21: Che Bacıres Dan 2010 and

在至少被担保债务项下的本金的50%被清偿之后(对应本股权质押合同签署日贷款协议项下的未清偿金额且受限于进一步解除和资金支持协议的规定), 出质人有权向质权人提出书面申请,以减少质押股权的 50%。在质权人决议后的十(10)个营业日内(质权人不得无故保留该等解除决议)与出质人办理减少的部分质押股权的注销出质登记的相关手续。出质人应承担该等质押殷权的减少所发生的费用。

Alta like principal and secured indebed tot been paid of Fly at least 10% (a computer and the comment and at al the That Times be dernasci he Plates of an Piction of Grim. Th Photos sall no uneanady without its rones for such and the Podges and real player of the manalities of the Breast op tool Picar of the Pease of the Pease of the Pease of the Pledged Equity.

33 本股权质押合同项下出质批准及/或登记事项或观致名称发生变化,依法需进行股权质押的变更批准及/或登记的,出质人与质权人应在有关方知晓变更事项之原因之日起三十(30)个营业日内到有关批准及登记部门开始办理变更批准及登记。

In asse of the change of plodge approval ander this This This Equity Plodge Costaat or of the name of Ques Autocontive, witch seeds to be appreved ander repisered to also and respect of equises to the law, the Piedges that reason the blanding as beating as became to the nieval party of an eleval party

54 本股权质押合同自有权主管商务委员会不加修改地批准本股权质押合同

(除非该等修改经双方书面同意)之日起生效,质押股权的质权自股权质

押合同在观致的当地有权主管工商行政管理部门办理出质登记之日设立。

1 TH 11-12-2007 17-2 11 12-2 11-12-2 12-2 11-2 17-2 11-2 11-2 11-2 11-25 12:42 10-2 12-2 12-25 12:42 ( this 8-2 haves and chase and chass and chass and chase and with the locally competent Administ ation of Industry and Commerce in charge of Qoros Autor

ss 为免疑问,尽管有其他相反约定,在本合同生效后,无论本股权质押合

同是否完成本第 5.1、5.2、5.3、5.4 条所述的任何完善手续,均不影响质

权人根据进一步解除和资金支持协议第 2 条的规定以及本合同的规定执

行本合同项下质押。

For aroidance of any doct and in the contact after this Contract become effective, the Pingge shall have the right to extree the plader as costemplard becuser parauant to the classe 2 of the Roles and Cath Supper Agramant and list Cortact, no matter wheller any of the perfectives formations with respect to list Costact as porchard in the above Article 5.1, 5.2, 5.3 and 5.4 is completed or not.

第六条股东权利的行使和股东义务的履行

Exercise of Rights and Performance of Obligations by the Shareholder

61 尽管出质人在质押股权中的及对质押股权所拥有的所有权利、所有权和权

益已质押,自本股权质押合同签署之日直至被担保债务被清偿之日止,出

质人及观致应有权行使观致的合资合同和章程项下出质人及观致(视情况而

定)的全部权利,并履行其后发的全部义务。
Newsbassangle Plodge of the Pletgost is and to to the Plotged Equily, from the date of constion of this This Elevity Pleage Contact and rastil be date wh the Secured Indebedess is paid off, the Pedger and Coros Antonetive all be entitled to exceles all bigged to fifth all obligations of the Pledger and Qoos Automotive (as case may be) under the JV Contract and the AoA of Qoros Automotive.

62 除非在 Kenon 保证合同和触发事件项下发生一项违约事件且该等进约事件处于持续状态,且质权人已经根据任何 Kenon 保证合同的条款就该等进的事件作出了通知(或已作出触发事件的通知),出质人应有权保持并行使其可能拥有的有关质押胶枚的任何表决权和分红权及其他权利。若在 Kenon 保证合同或和触发事件项下发生一项违约事件且该等违约事件处于持续状态,质权人已经根据 Kenon 保证合同的相关条款就该等违约事件作出了有

效通知(或已作出触发事件的有效通知),出质人应确保质押股权的所有表决

权和分红权及其他权利根据质权人的指示行使。

Unics an Event of Defluit under to a Triger Deast has occured and is continuing and solice of with an Event of Default has bear given by the Pledge in accedess with the lams of the Kesse Cranie of Trigat Brash of Delal Loaded on a Medical Press and to contrast and to contrasted and incomming asl triances and incoming asl no as Evert of Defail) has been given wills the Researce wills the Kensio Garantes (or solice of Thigger Eventhan been given hercuske), the Pedger that all voting and dividend and other rights in respect of the Piedged Equity are exercised in accordance with the instructions of the Pleage.

63 出质人应继续避守并履行与质押股权及作为观致的股东有关的全部义务和

The Pleager shall costinus to able by and personalities in connection with the Hedged Equity and as the thatshdan of Qoos Associative

质权人无需履行出质人对质押股权所应承担的任何义务或责任。质权人亦没

有义务就质押股权采取任何行动。质权人不因本股权质押合同而就质押股权

对任何其他方承担任何义务或责任,除非法律另有要求。

The Pleage do net ned to perform any colleged by of the Pedged Equity which shall be undersainn by the Ploges. The Ploges shall also set be obligated to take any ation is raport of the Pledged And not be obligated to unlight to unlighting any obles party in resport of the Planged Equity do to this This This This This This This This T

第七条出质人应提交的文件 Submission of Documents by the Pledgar

21 出质人应确保在本股权质押合同签署后二十(20)个营业日内质权人从出质人

处或从观致汽车处收到以下文件: 小龙人观察文 (车 b (火 ) | 下 ( )
The Plakes that cases that Be Platga of See Quos Automitive in following Assumats within tweeky (20) Buines Days also cacusion of this This This

(1) 出质人的股东同意出质人以所持有的质押股权质押给质权人的英文书面

文件的原件:
the ceiginal Eaglish written document of the Plodger's shoulder approving the Plodge its Plodged Equity to the Plodges;

@ 本股权质押合同项下的股权质押记载于观致的股东名册的有关证明文件

photogies of the relevant upperting that the equity pledge under this Tiris Equity Pleage Contract is necorded in the Register of Qoos
Avenders of the relevant upperting tha

0) 质权人合理要求出质人提供的其他文件。
any other documents as reasonably required by the Pledges to be provided by the Pledger.

72 出质人应尽其努力使质权人在本股权质押合同签署后九十(90)个营业日

内可以出质人处应从观致处收到到了文件+
The Plaige will walnizer in the Redge will receire than the Plage of the Road not the Dillering decument instery (O) Business Days
alter modio not his Ti

(1) 证明观致的主管商务委员会已经批准本股权质押合同的有关支持文件

(如有):

the selevant supperling documents provint Commons Cenmission in change of Qroos Automotive has approved this Equity Plades Agramate (frany,

(2) 证明观致的主管工商行政管理机关已经就本股权质押合同办理出质登记

的有关支持文件。 the clevels suppression decements proving that the complexed Administration for Industry and Centrelies has caried out the pleage registerior for the plates negisterior for

73 如果出质人根据本股权质押合同提交的文件为复印件,则须经出质人法定

或授权代表签字,或者加盖观致公章以确认其为真实完整有效的文件。如

果出质人根据本股权质押合同提交的文件来自境外,则该等文件应符合中

国法律法规及中国相关政府机关的要求。

11/11/2/20 " Letti "> The Fall Propile Market Port Production Production Processor of Criments of the Property productive of the Property productive and event PC gro

第八条陈述和保证 Representations and Warranties

81 出质人在此向质权人作如下陈述和保证: The Pledger hereby reposents and warrants to the Piedine as Sollows.
- (1) 出质人是依据美国特拉华州法律合法成立并有效存续的一家有限责任

The Product is a limited libility company, is leally resident validy origing pursual to the State of Delawar, the Unival States of America:

(2) 出质人有完全的民事权利能力和民事行为能力开展其业务、签署本股权质押合同,并根据本股权质押合同行使权利及限行义务;
The Plogo has full civil rights and capacits builters, covents this Thief Equity Prodec Costract and excellag to tis Third Equity Piedge Contract,
0 出质人签署本股权质押合同并根据本股权质押合同行使权利及履行义务所需的公司内部程序已经完成,代表出质人签署本股权质押合同的人士系出质人的有效授权代表,且经其签署的本股权质押合同对出质

人人才行令守更力:
The Helge has completed all the historial of the tace in the This This This Clain and and be of the ight and and be fleager and bil have binding effect on the Piedgor,

(6) 出质人在本股权质押合同项下的义务是合法有效的义务,对其有约束力,

(3) 出质人签署本股权质押合同并根据本股权质押合同行使权利及履行义

务不会且将不会违反以下文件或与以下文件相冲突:
The costonion lened askessione of the oligition punanto to this Thid Equity Pledge Costocl by the Redger of the Red will bet in videos of or conflicting with any of the following documents:

0 由出质人作为一方的任何协议、合同或任何其他对其任何资产构成约束力的契约性文件:
any ageamas, contract or any other dovering hisding hisding effect on any of the Hedgor's assess to which the Pledge is a party,

() 出质人的公司章程及其他公司根本性文件;或 articles of association and other fundamental corporate documents of the Piedge; of
◎ 任何对出质人适用的法律、法規、判决、裁决及裁定; any laws, regulations, judgment, ruling and adjudication applicable to the Pledgor,
(6) 出质人已获得有关本股权质押合同之订立、履行和执行以及本股权质押

合同项下交易所要求的或必要的所有授权、同意、批准和许可,并且该

等授权、同意、批准或许可是合法有效的!
All Box Ministation, costell, approvation results of secondry for the confusion, performance and conculion of this Tirist Equile,

(2) 出质人签署本股权质押合同并根据本股权质押合同行使权利及履行义务, 是共为商业目的而作出的商业行为完全受民群和商可注(http://www.blogs.com/arting.com/article/seated by the Redge is the business belavier
conduction by purpos of teating with asl bethly which and waters
◎ 在其作为一方的、在中国进行的任何司法程序中,质押股权不会在起诉、判决、执行、财产保全或其他注册和律师中国学院作者: 中国共产党员教学校
asy capting judical procedition and a sosperty, be Related pally ball not cajoy any immunis or provinsity of the provedings nitating
(9) 目前不存在任何涉及质押股权的、并将会对质押股权的价值或出质人根

据本股权质押合同履行其义务的能力构成严重不利影响的任何仲裁、诉

论或行政程序_质押股权也未因任何院产保全民学网被查封式称培训
There constity dous administrativ processor increating in Mich mill mill mill mill mill mill mill miller in the loba wald-por for and any property presenvation poocodures;

(10) 出质人合法拥有质押股权的所有权和处分权,质押股权的所有权和/或处

分权不存在任何争议,依法可以作为质押担保的标的物。如质押股权属

于须经有关方面批准或同意方可质押的财产,出质人保证其已取得合

注:有效的批准或同意:
The Ploage legally possesses the ornerskip right and right of the Redged Equity over which there is as dirple and mich ould be the sabject mater of the plage security pursoal to the law. It the Plotoge to the proporty which needs approval or consul or consumer by relevant asked it has
obtained wild and cities agground or concess,

(1) 除本股权质押合同所设立的担保外,质押股权上不存在任何形式的担

保、共有、任何第三方权益、任何权属争议或其他任何可能给质权人

行使质权造成严重不利影响的情形, Executive tecarity realed unter this This Equity of the est is o securiy on the Please Equity is any Serversion, any Simpler, et his fielder,

(2) 出质人向质权人提供的所有资料、文件和凭证均为真实、准确、完整和

有效,并且以复印件形式提供的文件均与其原件相符。
All be matrials, devenuts and evided by the Platger to the Pletger to the Accurate, complets and the firsting, and the flocking to in conferently with the on givels.

82 出质人作出的上述陈述和保证在本股权质押合同有效期内须始终保持正确无论,并且出版人保证将的时找质权人的变求提供进一步的文件。
The boremations in system in make by the Pelger dail il in time accusto ask and the time area and the this Title Equity be Pedge Cathael, and th

承诺 Covenants 第九条

出质人向质权人承诺,从本股权质押合同生效之日起直至出质人在本股权质押合同

项下的权利义务终止之日止:

The Holge Lection of the Redger, been be date of effectivenss of this Think Equity Platze Costost writter of the right and obligations of the Holge walls thir Well
Equily Pr

91 出质人应维持其企业法人地位合法有效地存续,应遵守对其适用的所有法律及法规。

The Pleager shall maintain the legitimate, continues of its enterprise legal entity statis, and comply with all the laws and regiliations applicable in

92 出质人应确保其经营性质和经营范围不会发生将对质权人在本股权质押合同

项下的权利、利益产生严重不利影响的改变。 The Plage taill canse that in Price Pril 171 L X 2 o
The Holger ball canse that in buiness sope will of bare any altertin witch will have a Matchi Adverse Effict on be right

93 除按照本股权质押合同的约定处置质押股权外,本股权质押合同项下质押股

权由出质人占有和保管,并在本股权质押合同有效期内由出质人持续占有和

({{{ f; .
User the Flegte Equity is diposted of in accedent with the Equity Prelec Course, the Picked Equily chase this This That Equily Plates Contract Aul No

94 一旦发生下列任何事件,出质人应在事件发生之日起十(10)个营业日内通知

Upon occurenes of my of the following systes, the Pledges within bas (10) Business Days after its occurance:

0 任何本股权质押合同第10.1 条所列之违约事件: of default specified under Article 10.1 of this Third Equity Pledge Contract,
P> 本股权质押合同第 8.1 条第(9)项提及的任何诉讼、仲裁或法律程序:
asy Wigation, arbitration or legal proceodings mostioned in Article 8.1 (9)barunder,
0) 质押股权权属发生争议或被采取包括但不限于查封、扣押、冻结、监管

等措施的; Occurate of are diserver the overschip of the Pledged Equity of masures haring becalling bet set limited on two limited on tot limited to the saled-op, squatation,
frecial p

(1) 质押股权灭失、级损;
Loss or destruction of the Pladged Equity;
(9) 任何产生或出质人已经知悉将会产生对出质人根据本股权质押合同履行

其义务的能力构成严重不利影响的事件。
Occurence of a the awaress by the Pedge of any makerially affect the copability of the Plaiguing in accodazes with this This This This This This This This Pledge Contract

95 出质人应当向质权人提供,且应质权人不时提出的合理要求提供有关本股权质押合同项下质押事项的所有文件、资料,并保证上述所提供之资料的真实性、准确性和完整性。
The Rodge shall provide the Plodger with all documents and material in Third Elgairy Rodge Costrat at the Plodge craamsh'y ragica at any time, and enuge the authenticity, accuracy and completeness of all the provided materials as mentioned above.
96 出质人应负责办理有关本股权质押合同项下质押股权的评估、公证、鉴定及保管等事宜并配合质权人办理质押股权的质押的批准及登记事宜:出质人对上述事宜承担全部费用,相关评估、公证、鉴定等中介机构应事先获得质权人认可。

The Plodes and or reposible for the matination, apprisel and processor of the Pides Equip Photos Proper that mater ones and one one one one ones and evaluation, notarization and appraisal shall be approved by the Pledgee in advance.

97 除本股权质押合同另有规定,未经质权人事先书面同意,出质人不得转让、赠与、再质押、以质押股权出资或以其他任何方式处置本股权质押合同项下

的所有质押股权。 Execupt a contemplated by this Tain Equity Pickent the prior written cossent of the Plodges that inst transfer, grant, e-plodge or make agistal contbulion by way of Plodged Equity or otherwise dispose of all Pledged Equity specified in this. Third Equity Pledge Costract.

98 经质权人事先书面同意后,出质人转让本股权质押合同项下任何质押股权所得的价款应依据本股权质押合同第11条约定予以执行。

Upon rior will as consin of the Pedge, process of tansicing any of the Padged Equity specified in this This Route Plotos Coract by the Polary Shall be exceled in compliance with Article 11 of this Third Equity Piodge Contract.

在任何情况下,出质人根据本股权质押合同的约定转让本股权质押合同项

下任何顾押股权不得损害阅读 ...
haay ease, be taastic of be Plaged Equity pecified in this Taire Costract in accodance with the providens het of be Piedges.

99 除本股权质押合同另有约定外,如果 Kenon 或其他为本股权质押合同所述

主债权提供担保的第三人以自己的财产为质权人的利益设定了担保物权, 出质人在此承诺,如果质权人放弃 Kenon 或该第三人提供的担保物权、担

保物权顺位或者变更担保物权的,并不影响和免除出质人在本股权质押合

同项下的任何义务和担保责任,出质人的担保范围不因此减少。同时出质

人放弃要求质权人先行执行 Kenon 或该第三人提供的担保物权的抗辩权。

Chicas dereste specified used to Crises, if Kessen on the party stablishs the tight of property waring to the the the the propety would by Legenty would by Legenty would by L the third pay to security will not be also and the mail of the property we will on affice resume wo obligation of the Plages in the Plages in the Plates in the redges a Meris property security provided by Kenon or the third party.

9.10 出质人承诺并保证,本股权质押合同项下质押股权的质押率(质押率指主债权

项下的本金金额与质押股权(由出质人和进出口银行根据银团贷款就股权质

押计算的方式进行计算的)对应的观致的经审计的净资产金额的比率(依据

中国会计准则确定))不超过百分之八十(80%):

The Plater also warrant that the the loan to value attin (loan to value astil refer to the ratio between the principal answers was thein Cediter's Rights and the and tod set assess value for be deternined in accessary of the Pedged Equily as calculard in the same masses a the optimal is calculated by the Redger and EXD. Bask pursual to the Piedged Equity waler this This Bigsity Piolge Costaan tabill not creed eighty purces (80%);

(1) 质权人有权随时核查质押股权的价值(以质押股权对应的观致的经审计

净资产金额计价)或委托具有相关资格和专业水平的资产评估机构评估

有关质押股权的价值。

The Plodges shall have the right to check and examise and the Piedged Equily (calculated on the basis of the assess raine of the Pedged Equity of Ooros Automotive) or estruct qualified and professional asset valuation institution to value relevant Pledged Equily

(2) 在观致体现于经审计的每个会计年度的财务报表中的净资产发生变化导致本股权质押合同项下质押股权的质押率超过百分之八十(80%)的

情况下,出质人有义务就上述原因导致的质押股权的不足部分向质权人

提供额外的股权质押:(i)但受限于本第 9.10 条最后一句的规定;

pursuant to Section 4.1.

(0) 在观致经审计的每个会计年度的财务报表中的净资产发生变化导致本

股权质押合同项下质押股权的质押率低于百分之八十(80%)的情况下,

质权人应释放出质人在本股权质押合同项下设定的部分质押股权,但在

释放部分质押股权后剩余质押股权的质押率仍不得超过百分之八十

(80%).

Where the net assets in the using Final Year of Check Year of Checol Year of Checor Automotive varias which makes the louselo-ration of the Pedged Equily becurativ lower than eighty porcest (30%), the Flolged Equily established by the Piedger under this This This Equity Pinge Centract, povided however that the loan-svalue ratio of the remaining Pinderd Egraty shall still not exceed eighty percent (80%) after usch release

上述质押股权的质押率应每年在注册会计师出具经审计的每个会计年度

的财务报表后进行详情
The loss to all of the Ploded Equity provided above shill be evaluated every year ight after in Statennia Statemato of each Fival Year have been given by
Ontified

即使本殿权质押合同,包括第9.10条有任何其它规定,出质人无义务提供任何进一步的观致股权质押,除非其拥有可用的且未被用以提供担保或设立任何权利负担的观致股权(各方理解未被质押的股权不包括任何观致股

权已被质押予进出口银行或被变求应质押子进出口银行或根据单独的协议

质押于质权人)("未设立权利负担服权")。为免疑问,双方同意,为

量子第一次股权质押之目的,未设立权利负担股权的定义亦不应包含已质

押或根据单独的协议被要求将质押于质权人的股权。

Noterilating ary class provision of this Equip Pedge Section 9.10, the Poders shall have no obligation to plotogram to plotogram of therests in Qooo Association calces if has available equily or exumbrane in Qood Automotive (it being andressed that sech egity intentis shall net include are quity interest shall net include are quity i Ques Automotive alsoaly pleated to Estim Bask or vquired to be ple to Exim Bank of the Piedges asker ober sepazate agences Sterrs"). For arest and any demails, the parties any that for purposes of the First Cenasum Share Peders (" then curbend Shares" chall also not include the charge wice have already been pledged or are required to be pledged to the Piedges under other separate agrees

第十条违约事件 Recort of Default

101 下列每项事件均构成本股权质押合同项下的违约事件: It under this Third Equity Pladge Contract: ounts shall of 1 of deb Esch of the follo

(1) 出质人违反于本股权质押合同第 8条所作之陈述和保证或第9条所

作之承诺(因第 9.10(2)条所述的审计的观致每个会计年度的财务报

表中的净资产发生变化导致本股权质押合同项下质押股权的质押率

超百分之八十(80%)的情形不构成本第 10 条规定的违约事件)可能

严重影响质押股权的价值,并且在出质人知悉该等事项之日或在质权

人发出要求出质人进行补救的通知之日中较早一日起的十(10)个营

业日内,未能令质权人在合理范围内满意地予以补救;

The Holaes the province of Repressions and Warantis in Atticle 9 (govide, bat, bat be house valuat and be forlar for an fortal facility. On (2) of Chail Fire) of (2) Atlantiv cosstinion Evel of Delais and Chical 10) hearially affect for the Polect for the Pologo Corporation The Plates of a Mages by the Reges Pledaor to make semedies (whichever is earlier);

(2) 出质人未向质权人如实说明任何本股权质押合同项下质押股权的瑕疵,以致严重影响质押股权的价值,并且在出质人知悉该等事项之日或在质权人发出要求出质人进行补救的通知之日中较早一日起的十(10)个营业日内,未能令质权人满意地予以补救: | | | | | | | | | | | | | (8)(出质人未按照本股权质押合同约定办理质押股权的出质登记或变更登记手续,并且出质人在质权人发出要求出质人进行补救的通知之日記三十(30)个营业日内, 未能开始进行令质权人简意的补补救:
The Plage foll to comple to plotters a stimalions espirations spisations moders tradios the personal or Pleger for to
commer on mais no de Pl (6) 出质人中止或停止营业或进入破产、清算、歌业或其他类似程序, 或出质人被申请夜产、清算或按主管部门决定停业;
To:Plafga wada uper kmixter e nim ixilo iz revelong of basiness aspension e dien timilar legi procedag; a the flalgor is fled
for balgaria de laniatio (8) 出质人违反本股权质押合同的约定擅自转让、赠与、再质押、以质押股权出资或以其他任何方式处置质押股权 :
Ta Holger washin, path, to bing the Maged Equity of the Requit Equity of the Redged Equity is ay other form in tidation of the
portions of this This Eq (6) 质押股权存在共有、权属争议、被查封、被扣押或已设定质押等情况:
- 25

The existence of co-ownership digute, sealed up, sequatization or the establishment of the pledge over the Piedged Equity.

7 出质人以任何方式(包括作为或不作为)妨碍质权人根据本股权质押合同
- 第 11条的约定处分质押股权; The Podger interfers with the Plotget of the Plotged Equily acceding to the provisions of Article 11 hornander in any form (including at consision).
102 发生本股权质押合同第 10.1 条所列之任何逃约事件后,质权人有权采取以

下一项或多项行动: After the occurance of any event of defail used to 10.1 harander, the Plodges shall be eatched to take one of a several of the following action:

(1) 受制于第 11 条之规定可以书而通知出质人其意图依法采取拍卖或变卖的方式处分质押股权,并以所得价款依据本股权质押合同第11 条约定于 shired to Article 11 writing the Pieder to dispose of the Pladged Equily by maan of assiss of pursuas to the law, and the law, and the law, and the law, and the free free fre disposing of the Piodged Equity shall be implemented according to Article 11 herenader,
0 书面通知 Kenon,要求 Kenon 为 Kenon 保证合同另行提供担保,以补充或置换本股权质押合同项下质押股权担保; astify is writing to not requires would would would would be link least Guantes to complement or seep to security against to seep to security against the
(0) 向本股权质押合同约定的有可法管辖权的人民法院提起诉讼;
File for lawsuit to the Poople's Court with juridiction as is agread in this This This This This This This Contract,
( 行使法律及本股权质押合同赋予的其他权利。 exercise other rights granted by laws and this Third Equity Pledge Contract.第十一条质权的实现 Realization of Right of Pledge

111 如发生一项触发事件,质权人有权依法采取直接拍卖或变卖的方式处分质押股权,处分质押股权的所得价款应用于: 押股权, 处分股票押股权价 | 下 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | (1) 清偿被担保债务;且 to pay off the Secured Indebtedness, and (3) 向质权人支付质权人为实现本股权质押合同项下担保权益而支出的费用、出质人在本股权质押合同项下应支付的其他任何费用、违约金、损害赔偿金以及因处分质押股权而需缴纳的税费; 19 per the Peder and Series (1) in 1970) in 1970 in 1970 in 1970 and this This The Board, and of the Peace, and of the Proget, and of the Proget, and of a fish Friday, Equity; 112 在质权人依本股权质押合同第 11.1 条规定处分质押股权的过程中,质权人有权依法采取下列行动: In the couns of disposal of the Pedges aconding to Article 1.1 horunda, De Plodges is antilid to this the following actions pursual to laws: (1) 有权以质权人认为合适且公允的市场价格在适当的时间以直接拍卖或变卖的方式处分质押股权; to dispose of the Pledged Equily by mans of direct auction of selling off a a propertime and at a market price as the Ploages thislis appropriate and fair, @ 要求出质人偿付质权人为行使本股权质押合同或法律赋予其的任何权利而支付的必要费用; to require the Pledges to pay the Piedges necessary expanses for the exaciss of any rights hereunder or granted by laws, 0 就质押股权决定如何行使出质人作为观致的股东所享有的权利; to
dacids how to excise all the rights as the shareholder of Qores Antonnelive in respect of the Pladged Equity;

ונ

(0 就任何人提出的任何与质押股权有关的权利主张加以解决、达成和解、提请仲裁或诉讼程序或以其认为合适的其他方式行使或允许他人行使肠押殿权之上的任何权利: to reselve, settle, or isitiation or itigation of thights raised by are pare parting the Pleaged Equity, or to execuse any rights over the Piedged Equity in such a manner as the Pledges thinks proper;
(9) 为实现质权人在本股权质押合同项下就与质押股权相关的任何权利, 行使或采取法律允许的其他一切权利或了。
to exective asy elber rights ar take ary other to relies to realize ary right of the Rodget in request of the Fidged Equity under this Thitl Equily Plades Contract.

质权人有权选择行使全部或部分上述权利或暂缓行使任何权利。 The Piedges is entified to choose to exercise all or part of the above-mentioned trights or to suspend the exercise of any right

113 一经质权人要求,出质人须协助质权人取得与质权人实现其质权有关的一切

必要的批准或同意,或协助质权人办理其他一切必要的手续。 Upon request of the Place, the Plage in obtaing any approvals or permiss influing any approvals or penmiss indivers and the Ploage's right, ex autit the Ploages with ary char

114 出质人在本股权质押合同项下的义务仪限于质押股权,且质权人有权但仅在

质押股权提供担保的范围内向 Kenon 追索,但不得向出质人追索超过质押股

权提供的担保,且出质人在本股权质押合同项下不得向任何出质人的关联方

追索,包括 Kenon。为避免疑义,本股权质押合同在任何情况下不得增加

Kenon 在 Kenon 保证合同项下应付的金额或另外增加 Kenon 或出质人就

被担保债务的其他责任(涉及质押股权的部分除外)。如果出质人根据本股权

质押合同处置股权所得收益超过被担保债务的金额,该等超过金额应汇至

Kenon 或出质人(根据 Kenon 的选择)。

The Plages I dolgations under this Thind Selimited to the Pledged Equily and the Pledge is chilled to hove recoune against Kessa bet any to the centre againt Kessa bet Be security reviend by be Poded Equity and is no recorded and as recome anaint the Pedged Equity and the Piedge dail bare as recount under this Thick Epily Pedge Cortract are of the Plates, including Knon For the avoidance of dealer, in no event shall this This Equily Prodes Contraction annual that may be payable by Konn under the Kenn Casantes on chemise suult in Kero or the Pladger baring laidilities with respect to the Secured Inditions of the Secured Ind respet to the Piedged Equity) In the event that the pooreds of a disposibles with this Third Equily Pledge Costant exceed the amount of Scured Indebtodness, such excess shall be remitted to Kenon or the Pledgor (at Kenon's option).

115 在质权人书面善意通知出质人其根据本股权质押合同项下之条款处置质押

股权的意图之后,但在质权人实际就质押股权行使其权利之前,出质人: After Pidges antilist the Pleage in whiles the 10 c 12 - 1 ( 1 ( 1 ( ) - ) ( ) - ) ( ) - ) ( ) - ) - ) ( ) - ) - ) ( - ) - ) - ) - ) - ) - ) - ) - ) - ) - ) - ) - ) - ) - ) -

(a) 应拥有不可撤销的权利向质权人就质权人有权对之执行质押的、

Kenon 保证合同项下之未偿还的被担保债务提供等额现金,以取代质

押股权,以替换由出质人根据股权质押合同所设立的质押;或 1 1 000 - 12 11 11 1200 - 11 - 11 1 17 1 1 1 1 1 1 1 1 1 1 17 1 1 17 1
skill her de investie tiple to provide of the Polge Louise ask with relays on the Board in Airli Bagir Pledge Costract; co

(0) 可向质权人提供质权人事先书面同意的其他担保(包括但不限于由出质

人或任何第三方提供的其他股权质押或保证,等等),价值等于本股权

质押合同项下质权人有权执行的质押股权之部分.以替换由出质人根据

股权质押合同所设立的质押。

IXX'S (1) | 1) 1971 x 2011) 1974 = 12 = 12 = 12 = 12 = 12 = 12 = 1 = 12 = 1 = 12 = 1 = 12 = 1 = 12 = 1 = 12 = 1 = 1 = 1 = 1 = 1 = 1 = 1 = 1 = 1 = 1 = 1 = 1 = 1 = = = = = = =

116 如果质权人宣布根据本股权质押合同之条款执行质押股权的意向,且出质人向质权人提供上述 11.5(a)和(b)项下的一种选择方案、则圆权人态不可撤销地同意,在任何情况下,在质权人执行本股权质押合同项下的质押之前,出质人有权优先自主决定行使 11.5(a)项下的选择权,或在经质权人事先同意的前提下行使 11.5(b)项下的选择权。在任何该等选择权被行使后,相应的质押股权之质押应当被解除,且有关各方应合作完成质押的变更及注销所需的

积序

the Plage annuse the links fledge in the light a decident with in the programs and the program and 11. Sip) at its ols and 11. (i) at its ols a tercion as the way option and to the pire consent of the Piolage and in any over the Pedge concising the Pidge of the Pidge of the relevan Pedged Equily after any ach rengegram being exte cleased and relevant partes shall work co-quatively to complete gring the ough procedures of modification of the Plege

117 如果任何第三人因任何原因对质押股权提出的任何主张,或基于任何原因

对质押股权的处分提出任何异议,则一切后果和责任由出质人承担,该第三

人的上述主张和异议不影响质权人积据本股权质押合同的约定处分质押股权。 If tay their pary make and claim to be ligne in chilica to be dispost of the Pleagel Equily do: " helper account to the Tical Equily by the Tissipel and Chical Corporation to

第十二条费用 Yees

121 与本股权质押合同及本股权质押合同项下质押股权有关的一切税财和费用《如本股权质押合同的批准和登记费),均由出质人支付或偿付。 The Fledge shall bear and heat in connection with this This Equity Pielge Costner and in relation to Produced its a provent addresimator
feel of the Equity Plotge Costact).
122 经质权人要求,出质人应立即向质权人全额补偿质权人在任何司法管辖地行传或行使其在本股权质押合同项下或其中提及的任何文件项下的权利而发生的所有必要且合理开支及费用,包括但不限于质权人按照本股权质押合

同第 11 条的约定处分质押股权而列支的合理的财务费用、律师费及诉讼费

| } }
Upa xentl by LP 14ges thai intention to the to in filimond ato Press to treasury addes politics proven and top pick by be Plazes for accorder de loss be net links to b

经出质人要求并且由出质人承担费用的情况下,出质人可以行使本股权质押

合同项下返还借出股权的权利;如果质权人未按本股权质押合同的要求出质

人该等借出股权,应及时补偿出质人在相关司法管辖区域内就行使返还借出

股份的权利而支付的必要和合理的费用,包括但不限于合理的财务支出、律

师费用和诉讼费用。

ply (1) (1) (2) (1) =
Dosepto by be Regor and realiser in the mainten the times of the Beatles of the Banes Start of Stidle of the Bannel Start of Stidle of Stief in Alabar in any jurisdiction, including but not limited to the reasonable financial expanses, and lifigation fess.

123 出质人应当随时为本股权质押合同和其中提及的任何文件支付对出质人征

收的所有目前机将来的批准和登记费以及其他相关的税费。
The Plodger shill pay at any lime all think appeval and registation for indivation for indivation installed to the Bladger in this This This documents mentioned bereunder.

第十三条主体变更 Chinge of Parties

未经另一方事先书面同意,任何一方不得转让、出让其在本股权质押合项下的

任何权利、义务。本股权质押合同对本股权质押合同各方以及其各自的承继者

及受让人具有约束力。
Willson picer willen consent from the reasontransfer er assign any of its rights are obligations largunder. This Third Equip Plodice Contact Ashl be listâns yon sa party hereto and its successor(s) and assignee(s) respectively.

કેર

第十四条信息披露 Information Disclosure

141 本股权质押合同项下任一方应对由任何一方对另一方提供或代表任何一方向另一方提供的与本股权质押合同相关的所有文件(包括但不限于质押股权的评估报告、保险文件、出质登记文件等)有关的任何信息保密。但是,双方及质权人以及观致有权:

7 / X/X/ V V /> / X / X / A/T / T / T / B / Information / A/ M / A/ / 0 / 0 / 0 / 0 / 0 / 0 / 0 / 0 / 0 / 0 / 0 / 0 / 0 / 0 / 0 / 0 / 0 / 0 / 0 / 0 / 0 / 0 / 0 / 0 / 0 / 0 / Plodges and Qoros Automotive are entirted to:

(1) 技露已为公众所知的该等信息(不包括由于披露方违反本条而使公众所知的该等信息): disclose such information that has become to the information made lasem to the public as a result of the public as a result of the disclouing party);
(2) 在任何诉讼或仲裁程序中披露该等信息; disclose such information in any litigation or arbitration poooodure:
(3) 在任何法律或法规的要求时,披露该等信息;
disclose such information as required by laws or regulations;
(4) 根据情况需要向任何政府、金融、税务或其他监管部门披露该等信息;
disclose such information to any governmental, fibancial, lux er other regulatory ashemiles on an a soud basis;
(9) 根据情况需要向其专业顾问披露该等信息; disclose such information to its profession al consultant on an as-need basis;
(6) 在本股权质押合同第 14.2 条允许的范围内技露该等信息;
disclose such information within the scope permitted by Anicle 14.2 hereunder,
(7) 经受披露方同意披露该等信息。
disclose such information upon consent of the disclosed party,

(0) 根据适用证券法律法规或任何主管法院或政府机构或任何证券交易所之

命令所需要进行的披露(包括但不限于因 Kenon 在纽约的一家证券交易所上市而适用的规则)。

Such disclosure is required pursual to any appliatios or by educed any computes count or governmental athority en any stock exhange to be disclosed (including but not limited to regultions applicable as a rosult of any listing at a stock exchange in New York by Kenon).

142 质权人有权向将要或已经与质权人签订与本股权质押合同有关的任何转让

或其他协议的任何一方(以下称"参与人")披露: The Product as cablied of the will make of has nak with the Plates any assignment appenced appensed withind to this Timbed of this Timbed on bein Tirid Equity Product of this (hereinatter referred to as the "Participants"):

(0) 任何与本股权质押合同相关的所有文件(包括但不限于质押股权的评估报告、出质登记文件等)的复制件;和 any copy of the documents related o this This Equity Piedge Contract (including but ast limited to assessment repet, ploage registration documents en in el all of the materia
(2) 该质权人已经获得的与前述文件相关的任何信息。
any information that the Pledgee have obtained to the above docume

但是在参与人收到任何保密信息之前.该参与人必须向质权人提交其同意

按照本股权质押合同第141条的条款保密的书面承诺。 रिप्ली की स्थित में निर्मित की में में में में में में में में में में हैं .
Northeradar the foregoing, Partificant shall million commitment that the Partisipat agoes to o

143 上述第14.1 和14.2 条的约定取代任何质权人在成为本股权质押合同一方之

前关于本股权质押合同已经作出的任何保密承诺。
Previsions pocified in List Internet any confiled by consess any censusion in the Redge, brance becaring a party of this Thid Equity Piedge Contract, have made with respect to this Third Equity Plodge Costract.

第十五条修改与补充 Amendment and Supplandat

151 质权人可以和出质人不时以书面方式修改本股权质押合同条款,如该等修改

涉及本股权质押合同批准和/或登记事项的变更的,则出质人有义务协同质权人向主管机关办理变更批准及登记,任何据此作出的修改应对所有质权人及

出质人具有约束力。

The production in the mand provides of this The Real Production in thing I from in thing I frech manasting is a treating the agently and espection with and registation with b autherities; any amendment made accedingly shall be binding upon all the Pledgee and the Pledger

152 如果本股权质押合同的登记主管机关要求修改本股权质押合同,质权人和出

质人同意签署一份本股权质押合同的修正案,前提是本股权质押合同的登

记主管机关要求的针对条款和条件的修改不会对质权人及/或出质人施加任

何领外义务,除非该方书面同意该等修改或额外义务。
If to negistal by the registered the registed this Third Equity Plodge Contact, tas Relges and be Plater ages to sign as annadenat to this Think Equ impose ar addional of its annual of the less not one material by the registed by the entry to such allection or Mailions of such allections or Milional obligations or Miliona

第十六条通知 Notke

161 任何根据本股权质押合同发往本股权质押合同任何一方的通知、请求、文

书或其他文件应当以书面形式以英文及/或中文按收件方不时书面指定的

地址或传真号并注明联系人(如有)发给收件方。各方指定的最初地址和传真

号以及联系人(如有)于本股权质押合同签字页中列明。

Pursual to this Third Equity Pledge Centract any other file to be sent to any other file to be sent to any party of this This Equiry Pedge Central shill be is writing in Eagl and or Chinese and delivered to the recipinti) a the satures, or for number with the centact puron (if spplicable) & signated from time to time by such recipest() in writing The addess, for number, and the contact perienally designally designally dasi insted in the siming rass of this Tand Equity Peder Contract.

162 本股权质押合同各方之间依据本股权质押合同进行的任何通讯应在下列所

述情形时视为已经由收件方收到: manication make between the parties here provisions of this Third Equity Produc Contract shall be deemed to here been received by the necipent after Ass con satisfaction of the following conditions:

如通过人员递送,在实际交付时;
If delivered in person, at the time of the actual delivery; (1)
(2) 如以传真传送,在传送完成并收到正确回号或传真报告时;
If given by fax, at the first of a completion and a roceix of cornect foodback, a oach, or a receipt of fax report,
(3) 如以国际快递方式邮寄,在按一方向另一方最后通知的联系地址以国际快递投邮后第七(7)个营业日中午 12:00(北京时间)。 If polital by interastional courier, at the time) of the severth (Th) Buiness Day after a couver document has been poled to a costal addres lat notified by the given party to the other party hereof
163 本股权质押合同任何一方变更联系人、地址或传真号后,应于变更完毕后

五(5)个营业日内将该等变更通知另一方当事人。 Any party hereto shall settly the other party of its classe of contact person, address, or for sumber within Sive (S) Butiness Days after the change has been completed

第十七条弃权和部分无效 walver and Partial Invalidity

12.1 质权人和/或出质人没有或延迟行使本股权质押合同项下的任何权利不应被视为放弃该等权利,质权人和/或出质人单独或部分行使任何该等权利不应排除其以其他方式或进一步行使该等权利或行使任何其他权利。本股权质押

合同约定的权利和救济不排除法律赋予周权人和/或出质人的任何权利或

Neifer fillure to execuse not delay in execuing of any tights by the Platger under the Thid Equily Pedge Costact that opents as a wirer thered, need ball ay single or partial arential of any ight presses of the Piedger from sensions with the maan or executing any obser rights and

172 如果在任何时候,本股权质押合同的任何条款在任何方面成为非法、无效或不可执行,本殿权质押合同其他条款的合法性、有效性或可履行性不受任何影响或减损。

I .. I we rime, any workion of this Think Equily Please illegal, is any appet, natiber the legally, wildly not the engally, wildly not the enforeability of the remaining provisions hereof shall be in any way affected or impaired.

第十八条适用法律和司法管辖 Governing Law and Jurisdkthon

181 本殿权质押合同受中国法律(包括但不限于中国现行有效的法律,中国国务院颁布的行政法规、决定和命令,中国国务院各部委及地方人民政府颁布的规章等,但不包括香港特别行政区、澳门特别行政区及台湾地区法律)管

श्र (प्र (एस) Phae Costar Lill Arceles (net Line Circulture (in tell intel links) be caresly Effective (inst links) on accident (as Station) of Station (as Station) of Maci

182 如发生与本股权质押合同有关的任何争议,各方应本着友好协商的原则予

以解决。如协商未能解决,则任一当事方有权将该争议提交观致住所地有管

辖权的人民法院通过诉讼解决。 Any distribution with this Third Equity Plodge Cortrast shall be reselved through frimally and the Patiss. It no stillements care realed through negatiation any party is entified to submit the disple's Court with competent jurisdiction where Qoros Automobive is located

第十九条合同文本 Cantract Varsion

191 本股权质押合同以中英文起草并签署。两种文本具有同等效力。
This This This This This propered and excented in Chinese asd Eaglish Beth wo versions shall prevail agaily

192 本股权质押合同未尽事宜,由出质人与质权人列行议定,并由出质人与质权

人签署补充协议。如果该等补充协议涉及本股权质押合同己批准和/或登记

内容的变更,则该等补充协议应当依法于有关机关办理变更批准和/或登记

手续。该补充协议与本规划员的关闭类的方法(文)。
Matica set overal in the Replines Mall be Replaised spacelly by be Yolge, and in Phages Micrison inities of this Tisch Ploge Corber, in experiences shill be subscribed to be adderities for alternation pussant to the applicable law. The supplementary apreement and this Third Equity Programst and this Third Equity Program have the oqual legal effect.

193 本股权质押合同之附件为本股权质押合同的有效粗成部分。 The appendices hereof shall constitute effective integral part of this Third Equity Pleage Contract.

其余正式文本暂存于观致用于本股权质押合同出质登记事宜,每份正式文本具有同等效力。

This This The Real Coates thall be excession in the Photos and the Photos and to processes. The remaints of interest and be used and

(The remaining part of this page is intentionally left blank)

¹⁹⁴ 本股权质押合同应签署集(7)份正式文本,出质人与质权人各执一份正本,

签字页(1)
Signature Page (1)

出质人:Quantum (2007) LLC Pledgor: Quantum (2007) LLC
地址 / Address:
邮编 / Postal Code:
负责人/Person in Charge:
电话 / Telephone:
传真 Fax:
联系人/Contact Persons:
授权签字人 / Authorized Signatories:
姓名 Name:
职务 Position:
日期 Date:	年 Next	月 /Month	日 /Day

签字页(2)
Signature Page (2)

质权人: 奇瑞汽车股份有限公司
Pledgee: Czery Assocoobile Co. Ltd. 地址 / Address: 邮编/Postal Code: 负责人/Penson in Charge: 电话 / Telephone: 传真 Fax: 联系人/ Contact Persons: 授权签字人/Authorized Signatory: 姓名 Name: 公章/Official Seal 职务 Position: 日期/Date: 年 Near 月 /Moath 日 Day The Farther Release And Cash Support Agreament
进一步解除及资金支持协议

Allex B
附件 B

Release Agrement

进一步解除和资金支持协议附件 B

Annex B to Further Release and Cash Support Agreement

Quantura (2007) LLC

(作为出质人)

Quantum (2007) LLC

(as "Pledgor") 奇瑞汽车股份有限公司

(作为质权人)

Chery Automobile Co. Ltd.

(as "Pledgee")

与7亿贷款相关的第三次股权质押合同

The Third Equity Pledge Contract in relation to 700 Million Loun

二0一七年月日

. 2017

47 亿贷款相关的第三次费核质押合同
The Third Equity Piedge in relation to 700 Million Loan

本第三次股权质押合同于 2017年___ 月___ 日由下列各方签订:
This Third Equity Pledge Contract is entract into co

1 Quantum (2007) LLC .- 家依照美国特拉华州法律设立和存续的有限责任公司,其法定地址在 16192 Coastal Highway, Lewes, Delaware 19958, USA, 作 'Staff All (All T K " (Lig) - 1) - 1 (The State of Delawar, Be Thelswar, Be Times States of America, with is Hegal alless of America, with is Hegal alless of America, with
2 奇瑞汽车股份有限公司,一家根据中华人民共和国("中国")法律合法成立并存续的有限责任公司("质权人")。 Chary Asseeds (c. C., Lt., a limited librilly expany daily existing under Be lars of the Poster's Republic of China (lar "PRC") (the "Phdged")

签于:

WHEREAS

1 Kenon Holdings Ltd.("Kenon")为出质人的母公司。 Kenon Holdings Ltd. ("Kenon") is the parent company of the Piedgor
2 观致汽车有限公司("观致汽车"或"观致")已与中国进出口银行("进出口银行"),中国建设银行股份有限公司苏州分行以及贷款协议所列多家贷款银行于 2012年7月23日签订了一份合同编号为 YT41121230018 的等值人民币叁拾亿元人民币/美元双币种固定资产银团贷款协议("第一份贷教协议")。根据并受限于第一份贷款协议的相关条款与条件,第一份贷款协议中的贷款人同意为观致提供总念念额不超过价值人民币参拾

亿元(RMB3,000,000,000)的人民币/关元风币种长期贷款。
Quonceline Co., Ltd ("Qwn Astronomics of "Quend RMBUSD dul conner Actility agesmast for find assess investmast wib an agrigats forlings aquivalen of Britis (Inte (Internet) video Mo. YF 11222008 on 23 July 2012 will Tark Clini (Cair (Cair (Cair (Cair (Cair (Castill Chic (Cast, Continuel Condition of Service, lends in the First Loos Aprement agreed to the Ques Astonstive a long tem loan facility in an aggregate amont antensed ing expiralm of RMB3,000,000 (3
billion) in RABUSD dul

3 作为第一份贷款协议项下的一项先决条件,质权人于 2012年7月23日签订了一份合同编号为 YT41121230018(A)的保证合同,为观致在第一份贷款协议项下 50% 的债务("奇瑞首次担保债务")提供不可撤销的无条件保证 As a codition production in First Lons Agremat, the Programent into a guarated and with contract No. YT411212001KA) and dravoable

and uncoalitional guazantee coveing 50% of the interestive useder the First Loas Amermal (the "First Cherry Scannel Indebedaes").

4 Kenon 与质权人于2015年11月5日进一步签订了一份保证合同("Kenon 首次保证合同"),根据该合同 Kenon 同意就质权人首次担保债务的 50%提供不可撤销且无条件的保证担保,该保证担保的上限为 Kenon 首次保证合同规定的人士 (SCBR(TKCense ) 首次社 (ST) (Tim Kenn Carratter) Alad S Nevenber 2017, pursult procide procide procile procile procile procile procile procile procile por lo macinum an as defined in the First Kenon Quarantee.
2 观致已经与中国进出口银行、中国建设银行股份有限公司苏州分行,于 2015年5月12日签订了混合动力车型研发项目银团贷款协议("第二份贷教协议"),其中第二份贷款协议中的贷款人同意按照第二份贷款协议系款向观致提供总计本金额等值人民币 700,000,000元(大写:人民币集亿元整)的长期贷款额度,其中美元贷款额度不超过等值人民币 480,000,000元(大写:人民币肆亿捌仟萬元整)。

Qoto Assamsive Lass Ligade Construction Resertag Preject of Research asl Development of Frithing States Loss Agreems Lon Labor 2015 May 2015 Pil Status Lores Antoniole in ages goint in annum equival as BMB 700,000 (Seen HundedMillion) unler which be USD facily that issues an annual equivales to RMB 480,000(BMB Four
Flunded and Eighty Millen) l

1/7 亿贷款相关的第三次数核质押合同
The Third Equity Pledge In relation to 700 Million Loan

6 作为第二份贷款协议中的贷款人向观致提供贷款的先决条件之一,质权人已按照 2015年5月12日签署的《关于观致汽车有限公司混合动力车型研发项目等值人民币续亿元银团贷款协议之保证合同》("奇瑞再次保证合同")的条款和条件,为观致在第二份贷款协议项下的债务,提供不可撤销的无条件的连带保证("奇瑞再次担保债务")。 In a condition production in the Socond Loas Agreement to maint the facility available for Ques Automotive, purwant to the terms and coultions at forth in the "Gurantee Coatact to RMB 0.7 Billion Construction Project of Revearch and Devilopent of Elybridd Moller (C, 14x1 210 1 12 Mar 210 Stores) (the "Second Chery Secured Indibtedness"). 7 Kenon 和质权人在 2015年11月13日签订了一份保证协议以及在 2015年6月 9日对此进行了修订("Kenon 再次保证合同"),Kenon 同意根据上述协议的条款和条件或奇瑞再次保证合同项下的奇瑞再次担保债务的50%向质权人提供不可撤销的无条件的保证担保("Kenon 再次担保债务") Kenn and Se Produce corested a Quanter Costact on 13 November, 2015 as amended as of 9 Just 2015 (the "Securate"), under which Kence agres 10 provide an ireveable and and incendlional guarante to the Second Chery Secured Chery Secured Chery Guazates Dedither "Scored Indebtedness"). 8 鉴于量子于 2016年12月 21日向观致提供2亿 5千万人民币的股东贷款, 量子于 2016年12月 21 日向厨权人提供了股权质押("量子第一次股权质押"),因此 Kenon 与质权人于 2016年12月21日签订了一份解除协议(" 首次解除协议"),根据该协议的条款和条件,质权人同意部分解除"Kenon 首次保证合同项下的部分保证责任。Kenon 首次保证合同项下与 Kenon 首次担保债务相关的其余部分担保义务仍然受制于 Kenon 首次保证合同(" 被保留的 Kenon 首次担保债务") In consideration of the RAB25 to classional of the BABA 21 December 2016 and provision of quartum of quartum share pleage by Quarturn in from of the Photo and 21 December 2016 (be "First Quanter"), Kesse and the Pietze Sen antens and Series and Series 2016 (in "Tim Leases: De First Kesse Guzeses. The First Counces: The Fi par of the puranted biligations of Keson is relation to the First Kesson Indubteders under is sill ubject to the First Kesson Quarantee (the
"Residents For Kenn Searcel Maket

ਸ

8 量子和芜湖奇瑞于[ ]年[ ]月[ ]日以相同的条件同时向观致提供了第一部分一定金额的股东贷款(分别称为"量子第一部分股东贷款"和"芜湖奇瑞第一部分股东贷款",统称为"第一部分股东贷款")。在第一部分股东贷款发放后,受限于量子的独立决定权,量子和芜湖奇瑞将以相同的条件在本协议日签署日前后向观致提供第二部分一定金额的股东贷款(分别称为"量子第二部分股东贷款"和"芜湖奇瑞第二部分股东贷款",统称为"第二部分股东贷款")。就芜湖奇瑞第二部分股东贷赦,量子将向芜湖奇瑞提供资金支持。

Quarten and Wilst Chery ach porviled the (Jerciante, Jose (Jercisante, Joing respectively referred to as the "Trache A Quantur Losa" and List "Trache A Vish Chary Learine is a l'est Chery will backed by (becimenter, beig sepectively referido a che "Tracke & Loaster" one a Creates Loas" on the "Tracke B Walle Tex Lond collectively, the "Tracke BLons") to Queses or about the Apremont and with the same terms. Qualtum will previde estain sam suppert o With Chary in relation to its provision of the Tranche B of Walsu Chery Loan

10 基于 Kenon 的申请,考虑到第一部分股东贷款、第二部分股东贷款的安排以及其他前提条件,与本合同相关,质权人与 Kenon 于[]年[]月[]日签署了一份进一步解除和资金支持协议("进一步解除和资金支持协议"),

并同意根据该协议的条款和条件进一步解除 Kenon 在 Kenon 首次保证合

同和 Kenon 再次保证合同(合参"Kenon 保证合同")项下与被保留的

Kenon 首次担保债务和 Kenon 再次担保债务(合称"Kenon 担保债务")

相关的所有保证责任("进一步解除和资金支持协议")。

A roqueted by Kesso and considering the arangement of the Tranche B Loasa and the profition of the conditions, in conscion with this Costact, the Pholose color in a futher relass and cap ( Indeident tonether with the Remainer First Kenne John "Kimon Searcel Inditiedues" vade the Seond Roberto the Seens Courages schiect to the tems and conditions as provided in a first nel one and case man between the Produce and Kenn on or about the chis Costact (the "Parther Relate and Cult Support Agreamont").

દ

ly7 亿贷款相关的第三次股权质押合同
The Third Equity Piedge in relation to 700 Million Loan

11 作为进一步解除和资金支持协议下再次解除相关担保义务的前提条件之一,出质人同意订立本第三次股权质押合同且出质人同意根据本第三次股权质押合同的条款和条件为质权人之利益在质押股权上设立第一顺位质押。

Al one of the condical to be secondrelate of the releval grazantes of the Fiction Relate and Californial Andreal Antelley Antenen Create a fist piority plates out in Equity p Equity in favour of the Pladges.

12 作为进一步解除和资金支持协议下再次解除相关担保义务以及芜湖奇瑞提供芜湖奇瑞第二部分股东贷款的前提条件之一,Kenon 同意向质权人支付人民币194,250,000元("再次资金支持金额")。质权人同意在进一步解除和资金支持协议中双方同意的条件下对 Kenon 进

行文 (-) -

为此,双方立约如下:
Therefore, both parties agree as follows:

第一条定义及解释 Definition and Interpretation

47 亿贷款相关的第三次股权所押合同

The Third Equity Pledge In relation to 700 Million Loan

除本股权质押合同另有的定外,在 Kenom 再次保证合同中定义及解释的术语在本股权质押合同中使用时应具有与其在 Kenon 再次保证合同中相同的含义, Usless classing portided into The Reguly Proget Commission in be Second Kens Counter as used in this The Esquity Plate, Corporation, Say talle, Corporation, San Indian Corpor

第二条质押股权 Hedged Equity

21 出质人以其持有的观致 4.14%的出资额股权质押给质权人,为 Kenon 于 Kenon 再次保证合同项下的,并在进一步解除和资金支持协议项下于第二个生效日(定义见进一步解除和资金支持协议)解除的所有义务和责任提供质押担保。"质押"指由本第三次股权质押合同明确设定的担保,包括授予或将授予履权人的对质押服权所拥有的所有权利、所有权和权益。受限于下述第 9.10 的规定,如果出质人及进出口银行计算出的用于计算银团贷款( 于下文定义)中要求质押的股权的质押率对应的净资产发生变化,则质押股权予以相应调整,且质押股权对应的金额(以及在适用范围内质押股权的解除)应根据该等质押率(计算方式与出质人及进出口银行根据假团贷款的计算方式计算)调整至 80%。为免疑问,量子根据本合同的任何规定提供的质押股权在任何时候均应受限于其所持有的未设立权利负担的股权

(定义见下)

The Pidges to the Pidges 4 14% copial contribution aquity hall by it in Quest Automories where to as the "Pielged Reptimation in the "Pielged Regists planes to previde plates Be digatina Milahlice K Easter Constent mich and Chical Call Chical Call Call Chical Chical Chication in and Chateller Dea.
"There mass to be neald by tir This Equity is ulti ralie for clariating the natio for the equiry plegs requirences to the Systems (1feder in the Merce (1fedge dest (2010). All be argusted (2012 (2012) (2012 For avoilance of asy doubt the Pielges Equilt by the Pinter accessions to any porision of this Costant doll be at all times subject to the Useral below) held by it.

ly7 亿贷款相关的第三次股权质押合同
The Third Equity Piedge in relation to 700 Million Loan

22 质押股权指出质人在质押股权中及对质押股权所拥有的所有权利、所有权和权益,包括但不限于下列权利内容; The Prodged Equily meass all of the rights, tifte Pledger in and to the Piedged Equity, ischuling but without limitation to the following tights. (1) 受限于第 6 条之规定,出质人有权从观致收取的与质押股权相对应的所有分红及其他任何性质的与质押股权相关的款项及相应的权利及利益: Subject to the provisions costained in Atticle 6, all divised generaled from the Pledged Equily and payments of any other nature and the corresporting tights and interests in respect of the Piedged Equity, which the Piedger shall have the night to collect from Qcoos Auto (2) 受限于第 6条之规定,出质人在关于没立观致的中外合资经营合同(4 合资合同")及观致的章程("章程")项下就质押股权应享有的其他方所做出的任何保证、确认和承诺所对应的权利和利益; Subject to be persions contined to Art of the Sincess of as prezzaty, also with the mater the establishment of Qoos Artistial and the establishment of Qoos Artistial ("Wow Ar articles of association ("AnA") of Qoros Automotive; (9) 受限于第 6 条之规定,出质人就质押股权在观致的合资合同和章程项下因任何其他方的任何违约而享有的任何要求违约赔偿的权利。 Subject to the prosisions in Attile 6 any tigh exped by the Platge in nepot of the Plated Pagity, to claim for default composition asising on of Arlail by any other
pary use 2.3 触发事件 Trigger Event "触发事件"在如下情况下发生:(i)质权人已经依据任何奇瑞保证合同向对应的代理行付款,并且,该金额为 Kenon 原本于 Kenon 担保合同项下与 Kenon 担保债务相关的应当补偿的付款(且受限于 Kenon 保证合同项下关于偿付的所有规定),但是由于进一步解除和资金支持协议,

Kenon 不再承担 Kenon 担保合同项下的付款责任("进一步解除的担保金额"),且(ii)在 Kenon 收到就该等支付义务发出的有效书而通知后 30个

营业日内,质权人不能收到这些金额。为避免疑义 Kenon 就进一步解除的担保金额无义务向质权人或任何其他人士进行任何支付,且未进行该等支

付不得构成 Kenon 于进一步解除和资金支持协议、Kenon 保证合同及其他

协议项下的违约责任;然而,该等未予支付仅导致出于本第三次股权质

押合同第11条之目的规定的"触发事件"。

A "Trigger Breat" that lecur upon the occurrent of, if the relevast agent bels: ander any Chary Guarates and, in reped of the annual which were a a nsult of school of in thick in the Kono nata in Koro Quantes in nilation to the Kores (sed stiles beland (season) in the Perhar Relates (and Supert Arrestel). Parther Reiced Carant Annes (1), and (1) in Florial (1) in 1974) in (1974) in Alamine (1978) in Mille Microsie (1980) in Hille Richer (1980) in Pinte Pinte Mille Richer Annie Articul pay only results in a Trigger Event for puposes of Article 11 of this Third Equity Pledge Contract.

第三条担保范围 Scope of Security

31 质押股权依据本第三次股权质押合同所担保的主债权在任何既定时间内(

以下简称"主债权")为:Kenon 于 Kenon 再次保证合同项下的,并在进一步

解除和资金支持协议项下于第二个生效日(定义见进一步解除和资金支持

协议)解除的的所有义务和责任。

The main codion's in the secured by the Rail This Eagline that This Costact siall be at any given time for at the "Man Credior's the main coaller's rights continutes of the colligioss and liabilities of Kesso ander the Second Keson Quanates which are released under the Forther Release ad Cub Support Agreemant on the Second Effective Date.

32 质押股权依据本第三次股权质押合同所担保的范围为下列各项之和(以下简称"被粗保债务"):

47 亿贷款相关的第三次股权所押合同
The Third Equity Pledge In relation to 700 Million Loan

The second by the Plaged Equity acording to the Tield Equity Prodge Costract stall be the sum of the following answars (hereinater refered to as the "Scared Indebtedes")";

(1) 主债权及因主债权产生的相关利息(包括但不限于任何利息,复息及违约利息):
- The Main Creditor's Right and the interests (including be any interest, compusad interest and drisult there us) assising out of the Main Creditor's Right,
2 质权人为实现本股权质押合同项下的担保权益而发生的所有必要且合理的费用(包括但不限于诉讼费用、财产保全费、差旅费、评估费、拍卖费、律师费用、公证费用、执行费用等)以及出质人根据本股权质押合同应支付的任何其他必要且合理的款项。 All neessury and reaccable for and expenses pullies the interests of security underties Third Equity Product (including bet not limited to Se legal cost, proper produce for, bases pril still the Spily Res, action for, and pross, judgmant caferement for, and are one manage and reasmable
fess which lall be bome by the Red
33 本第三次股权质押合同项下被担保的主债权的履行期限为自奇瑞再次保证合同或 Kenon 再次保证合同生效日(以较早者为准)起,自奇瑞首次保证合同项下奇瑞首次担保刚限之后十(10)日,或者质权人履行了奇瑞首次保证合同项下质权人所欠的奇瑞首次担保债务之后的两(2)年,以较晚

者为准。

The performance tarn of the secured Main Costin Paid Bouity Podate Cortact clail comment for the Second Cher George Cher Second Chery Chanales of the Second Chery Chanales of doe of Second Kease Guanate, wicher (10) days after the Chery Guantee tim what the Eist Chery Gurante, et we (2) years aller the Pint Che Piedge perform the First Chery Socured Indebtedness owned by the Piedgee under the First Chery Quarastee, whichever is later.

34 对于质权人用于表明任何被担保债务(经观致盖章确认的对账单等)或出质人在本股权质押合同项下应付的任何款项的证明,除非出质人提供充分有效的证据证明其存在错误,应是质权人与 Kenon 或出质人间债权债务关系的最终证据,对出质人具有约束力。

For any catificals research by the Plakes to indicate it a 18temat of account chersed by Oooo! Astemative upon confimison) e any account by So Production in the collection in the Piedge in alle to proviles unflices and effective endere on por in cospicous mission, such certificate islation

第四条担保的性质和效力 Nuture and Effectiventss of Security

41 出质人在本第三次股权质押合同项下的担保义务通常具有连续性,出质人的担保责任仪在被担保债务得到清偿时为止,并且不受出质人的股权结构、组织结构或业务经营的任何变更的影响。然而,如果在观致汽车下一会计年度的经审计财务报表以及此后的每一会计年度的经审计财务报表作出后 (应在 2017年第一季度之后). (i)根据 12 亿人民币贷款("银团贷款") 之股权质押合同(指由出质人与中国银行股份有限公司苏州分行间签订的观致汽车有圆分动 C 平台衍生车型研发商目等值人民币营控减亿元钢团贷款之股权质押合同)出质人被要求向进出口银行、中国银行股份有限公司苏州分行以及兴业银行股份有限公司苏州分行或本第三次股权质押合同项下的质押进一步提供额外的股权质押("额外质押股权"),且满足该等额外的质押只有质押本第三次股权质押合同项下质押的全部或部分股权。(ii) 出质人无法通过对观致汽车贷款的转换获得该等额外质押股权("贷款转换" ),则本第三次股权质押合同项下全部或部分股权的质押(金额等于依据银团贷款应予以质押的额外质押股权、但无法通过贷款转换获得的数额) 将自动解除且质权人应采取一切可能要求采取的措施向有权机构解除该等质押。但前提条件是在该等解除后,根据进出口银行、中国银行股份有限公司苏州分行以及兴业银行股份有限公司苏州分行的同意,质权人有权对该等股权要求第二顺位质押。如果出质人被要求的额外质押股权少于8%的观致汽车股权,且届时出质人有足够的未设立权利负担的股权(在下文定义),如果进出口银行同意( 己考虑到本股权质押合同),质权人有权在出质人持有的、未被质押的观致汽车股权的2%的范围内("借出股份"),将出质人的该股权依据芜湖奇瑞汽车投资有限公司与中国银行股份有限公司苏州分行间签订的观致汽车有限公司C平台衍生车型研发项目等值人民币壹拾或亿元银团贷款之股权质押合同,提供进一步提供额外的股权质押给进出口银行、中国银行股份有限公司苏州分行以及关业银行股份有限公司苏州分行。为免疑义,如贷款人按额外股权质押条款处置了额外股权质押项下的借出股权,出质人不

得向质权人就借出股权追索,前提是该等被执行的股权应抵销本股权质押合同项下另外要求出质人子以质押的一笔相等的金额并相应予以解除。

该等借出股权应于贷款人解除有关额外股权质押后在合理可行的范围内尽快返还出质人。如果该等借出胶权未在有关解除后被返还,且质权人要求行使其于本殿权质押合同第 11.1 条项下的权利时,其应在行使该等权利前返还借出股权,如果未能返还,借出股权应视为被质权人保留且该等被保留殷权应被视为代替质押股权(在借出殷权的范围内)且在任何质押股权上设立的质押如果不再根据第 9.10 条规定的质押率的要求被质押,则该等

质押股权应手以解除。

Genealiy, to: Poder security obigation is of collection of contraction in exceller separatility of be Presses and be ries of be ricans of the Plege. And be rilass of the Plag if, after be is was of for and Statement of brand States of Ores Amontin (vision in the Mindine (mich beland one bother (mich beginners) pellente (2017)
(i) De Plater is woul Loar) conceran, Project of Research and Deviano Moll of Qen Autendire Co., Ltd by as belleves be Plager and Basic (Clinic St Zion Linisd States (2).
Ranch), lo provide an ad Indust is not (i) be Flean and such additional plates and be smay and the sans and which and becaments (ise tapis) with be ping) with be plays in the Bager inst. Date play sh to all or sub potion of plate Collection, in an anous equil to he sumber of Addition Plegal Sauce of Median Allego Abert the Systems Se compuss wiled be lives bat and relax, the Preges all have to tight orquel a secoal pricely plotge over san equily, subject to be coasted f Exim Ball, Balk, Balk, Balk, Bal

hj7 亿贷款相关的第三次费权所押合同

The Third Equity Piedge in relation to 700 Million Loan

If the Additional Pleaged Shares requested to be Pletter cours less than 8% equily interest in Qores Automotive, than, to the extent the Pleager has ufficial Unscenter (a &final bilov) ad poridad bat Claris (lassis (lassis (last Explicy Plates (and Course). It de Synbridge Contral (relect Revarch and Development of C Paris Barker Co., Ltd. by and email of States (Colas Limit Colin Limit Schal Linds Limit Scase Linds, Intel. Scales Limit. Intel. (10). Start Bra additions against be Pedges in respet of the Benews to be tems of be adlinds a quiry plogs, to castered shill offici and realse, by a quivialant annus, by a quivialananas, eq interests otherwise required to be pledged by Pledgor under this Equity Pledge Contract.

Such Berowed Shares ball be realer as oss a is reasonals year in the best been between by the Leasen tom the releases and be release to there stable it in therear, it sight s lo caccioin prices in the Bonowd Shere of the Research and De rise to the maint and the mind than shall be dount be riolent be plays to registed by played be played be played requirement set forth in Section 9. 10, shall be released.

在不影响进一步解除及资金支持协议中第2条的规定的情况下,即使本股权质押合同有任何其他规定,如果:

Without projukte to the classe 2 of the Puther Release and Cabb Supert Agreement, and newission as terms of the Third Equily Plodge Coract, if:

Kemon 向出质人就履行主债权项下的全部义务的履行提供与 Kemon 保证合同中

条款和条件规定实质性一致的保证担保;成

Kenen provides the Pledges with guazates security with research and the Mais Crollor's Rights es ubstantially the same terms and conflicion as those set out in the Kenon Quarantees, or

ly7 亿贷款相关的第三次股权质押合同
The Third Equity Piedge in relation to 700 Million Loan

2 主债权已被全额清偿或解除,

the Main Creditor's Rights have been satisfied and discharged in full,

则(1)被质押股权应从本第三次股权质押合同中自动解除且质权人应按要求向

出质人远还被质押胶(以及全部借出胶权). (2)出质人于本第三次胶权质押

合同项下的全部支付义务应被自动全部解除,且(3)本第三次股权质押合同

应自动终止。

Sea (1) be Flotged Equity that be assemation The Bigily Pidage Contact and the Pleige required to chilers the Product Equily (and all Becomes Sharts) (obs. Pledge, (2) all obligations owing by the Plage Costract shall be astomatically released and disclared in fill and (3) this This Beging Pledge Contact (all be automatically terminated.

42 本第三次股权质押合同的效力独立于 Kenon 保证合同,其不因 Kenon 保证会同无效而无效。 The effectiveness of this Reply Plates Contact is indication the Kneo Quarates. This Third Esquir Plants Contract that has to isralidation of the Kenon Guarantees.
43 Kenon 和质权人在协商后可协议修改、补充 Kenon 保证合同的条款.而无

需征得出质人的同意。出质人将在变更后的债权的范围内承担担保责任, 但加重出质人责任的情形除外。

Kaon and in Pleage may annol or upplemas provision under its Kense Crusantes upon and Career of the Progon ball undership of the Proget.

44 本第三次股权质押合同的效力以及本股权质押合同项下质押的效力不受出

质人或其他任何人的清算、合并、分立、重组、破产或是其他形式的股权

结构、组织机构的改变或是对 Kenon 的债务所作的任何其他安排的影响。 The effection of this Tags: Cortact and be vilally of Helge was this Tail Ball be to Election in the bell be to Election in the local be laterial that to any clise to hand to

45 除进一步解除和资金支持协议下的资金支持安排外,出质人在本第三次股权质押合同项下为被担保债务提供的质押为一项独立的担保,不应被理解为与

任何第三方就任何 Kenon 保证合同所提供的任何其他担保构成一项连带担

倡。

The Flodge revided by be Pledges for the Security and shill not be construdes a sinking and shill not be construction with any eller securities porilad by any third party in relation to any Kesen Guarantee, other than the calls support areas contemplated under the Further Reliase and Cath Supert Agreement.

第五条质押批准和登记 Pledge Approval and Registration

51 质权人及出质人应当于本股权质押合同签署后二十(20)个营业日内将股权

质押记载于观致的股东名册中,并按照中国法律、法规的规定,开始向观

致的主管商务委员会办理本股权质押合同的批准手续(如需),并在其后向

观致的主管工商行政管理部门办理本股权质押合同的登记手续。

The Flodge and the Pedger shall reced the Quos Automotive's Register of Sharebolders within twesty (20) Basises Days after this Third Equily Ploter Contact and consuses the approvel proceded to the Registers the computer Comments and on the one of Qoros Autonovely (Hotel Almodiv passually de Almanding passually de Armandia regulations of the PRC.

52 出质人应当于按照本股权质押合同约定办理质押股权的批准和登记时,将质

押股权的他项权利证书及相关物权凭证(如有)交质权人保管。被担保债务

被全部清偿后的十(10)个营业日内,质权人应将上述文件原件退还给出质人,

并协助出质人办理注销出质登记的相关手续,由此发生的费用由出质人承

相。

"Hearter processes the apporal and registation procedures of the President of the previsions of this This Equity Plodge Costact, the Pedger shall deliver o the Picales of the cetificat of char the Plates & Seath and entificates of propely right (first). With in 10) Business and and 10 Munite (10 Bunne Day a fine in Sense incured therefrom shall be borne by the Piedger.

在至少被担保债务项下的本金的50%被清偿之后(对应本股权质押合同签署

日贷款协议项下的未清偿金额且受限于进一步解除和资金支持协议的规定), 出质人有权向质权人提出书面申请,以减少质押股权的 50%。在质权人决议后的十(10)个营业日内(质权人不得无故保留该等解除决议)与出质人办理减少的部分题押股权的注销出质登记的相关手续。出质人应承担该等质押

股权的减少所发生的费用。

Atle the principal male be Secured hable the Production of the Man SON (at compense constitution and clear Mail Mich Michell Michael Bellial Balliai Mall (di il This The Plat Ploges sall not uneanady with the couch for with the more the Production of the Magicaline Comaint of the Breast on the Pical of the Pical of the Pical of the Pical of the Pi Pladged Equity

53 本股权质押合同项下出质批准及/或登记事项或观致名称发生变化,依法需进行股权质押的变更批准及/或登记的,出质人与质权人应在有关方知晓变更事项之原因之日起三十(30)个营业日内到有关批准及登记部门开始办理夸更批准及容记。

Is ase of the classes in espect of expirises naties and the Pedges shall on the annot of Ches Altonolove, which and to proval and napreval and nationalism neteran ashoritias of aggroral and rejut ation within thity (50) Business Days from the dass of alsetation has become knows baty.

sa 本股权质押合同自有权主管商务委员会不加修改地批准本股权质押合同

(除非该等修改经双方书面同意)之日起生效,质押股权的质权自股权质

押合同在观致的当地有权主管工商行政管理部门办理出质登记之日设立。

This Third Equily Pledge Costant that the essent of complex to complex to the Time any changes to this Tierd Equily Pledge Costant (unless such change has bern aged by both parises are be in writing and the Piolin that Piolity that be establied as of the date of the Material of this This This This Taily Pleage Contact

ss 为免疑问,尽管有其他相反约定,在本合同生效后,无论本股权质押合同是否完成本第 5.1、5.2、5.3、5.4条所述的任何完善手续,均不影响质权人根据进一步解除和资金支持协议第2条的规定以及本合同的规定执行末合同项下所押。 For areidance of any doily, nowilstanding to the take Costant becemes effective, the Piedge dail have the right to extree the pledge as contemplaed becauder parsual to the class 2 of the Pather Release and Costant and this Contract, no matter whicher any of the perfection formatives with respect to bis Contract as provided in the above Article 5.1, 5.2, 5.3 and 5.4 is completed or not. 第六条股东权利的行使和股东义务的履行 Exercise of Rights and Performance of Obligations by the Shareholder 61 尽管出质人在质押股权中的及对质押股权所拥有的所有权利、所有权和权益已质押,自本股权质押合同签署之日直至被担保债务被清偿之日止,出质人及观致应有权行使观致的合资合同和章程项下出质人及观致(视情况而定)的全部权利,并履行其应尽的全部义务。 Normithstanding the Pedge of the Pedged in and to the Pedged Equily, from the date of creention of this This This This This This The Atterness the Secured Isabled is paid of, the Pletenative dail be entitled to onercise all rights and initight and that lobigation of the Plant of the Plants of the Plants and Qoos Automotive (as case may be) under the JV Contract and the AoA of Qoros Automotive. 62 除非在 Kenon 保证合同和触发事件项下发生一项违约事件且该等违约事件处于持续状态,且质权人已经根据任何 Kenon 保证合同的条款就该等违约事件作出了通知(或已作出触发事件的通知),出质人应有权保持并行使其可能拥有的有关质押股权的任何表决权和分红权及其他权利。若在 Kenon 保证合同或和触发事件项下发生一项违约事件且该等违约事件处于持续状态,质权人已经根据 Kenon 保证合同的相关条款就该等违约事件作出了有效通知(或已作出触发事件的有效通知),出质人应确保质押股权的所有表决权和分红权及其他权利根据质权人的指示行使。 Unless as Event of Definit under the Kenns Guazates or a Trigger Press has occured and secured and society of Definit has been of the Peder in accessare with the terms of the Kenon Guarastes (or notice of Trigget Eventhas been given hards and to exail be estilled to retain and to censis any woling and diviland and other rights which it may how in repet of the Podged Equily. If in Event of Default under the Rigges Evest has occard and is emilining and printing and printing and price uch as Event of Defall has been gives vildly by the Pledge in accadines with the Kenon Quanates (a satire of Trigger Evan has beender), the Piedger that pocur that all voling and dividend and other rights is respect of the Piedred in accedance with the instructions of be Pedgee

63 出质人应继续遵守并履行与质押股权及作为观致的股东有关的全部义务和

责任。

The Pledger shall continue to also by and perform and respossibilies in connection with the Hodged Equiry and as the themstre.

质权人无需履行出质人对质押股权所应承担的任何义务或责任。质权人亦没

有义务就质押股权采取任何行动。质权人不因本股权质押合同而就质押股权

对任何其他方承担任何义务或责任,除非法律另有要求。

The Rodged of the Piedge Ask not be Pedged Pedged Pedro Price Production of the Program Progres Plate and All All and Pedged Polis The Pedged Polis The Equity Pledge Contract, except as otherwise required by law,

第七条出质人应提交的文件 Submission of Documents by the Pledgor

21 出质人应确保在本股权质押合同签署后二十(20)个营业日内质权人从出质人

处或从观致汽车处收到以下文件:

The Plotge that cause that the Plodge will receive them Qoos Automitive the following decuments within world (20) Buiness Days after casusion of this This This This This This

(1) 出质人的股东同意出质人以所持有的质押股权质押给质权人的英文书面文件的原件:

the eciginal Eaglish written document of the Pledger's shareholder approving the Pledged Equity to the Pledged,

@ 本股权质押合同项下的股权质押记载于观致的股东名册的有关证明文件

的复印作。

platerpia of Sat relevant supporting documents peoply pledge under this Tird Equity Pedge Contract is teconted in the Register of Starsholars of Qoos. Automotive:

0) 质权人合理要求出质人提供的其他文件。 any other documents as reasonably required by the Pledgee to be provided by the Pledger.
72 出质人应尽其努力使质权人在本股权质押合同签署后九十(90)个营业日内或从出质人处或从观致处收到以下文件:

The Platger will uskentake in bat effers that the Plager of the Plager of fiel Plager of field on the fillewing decuments latest willing documents latest willing within since after execution of this Third Equity Pledge Contract:

(1) 证明观致的主管商务委员会已经批准本股权质押合同的有关支持文件

(如有): the relevant supporting that the cerpstent Cenmission in change of Qooss Automotive las approved this Equily Plodge Agreenten (if tay),

▷ 证明观致的主管工商行政管理机关已经就本股权质押合同办理出质登记

的有关支持文件。 the relevals suppring documents proving that the competent Aministration for Industry and Centrestive has caried out the pleage registering for

23 如果出质人根据本股权质押合同提交的文件为复印件,则须经出质人法定

或授权代表签字,或者加盖观致公章以确认其为真实完整有效的文件。如

果出质人根据本股权质押合同提交的文件来自境外,则该等文件应符合中

国法律法规及中国相关政府机关的要求。

If the documents provided by the I This Equity Pledge Costract are photocopics, they shall be ciber signed by the legal of the Proger of all als compay sal of Ceros Ausmiss to confirm bat bay and wild document. I frie Accurants proided by BRC governmel schheins

47 亿贷款相关的第三次数权所押合同
The Third Equity Piedge in relation to 700 Million Loan

第八条陈述和保证 Representations and Warranties

	81 出质人在此同质权人作如下陈述和保证: The Pledger hereby reposents and warrants to the Pledgee as Sollows:
	10 出质人是依据美国特拉华州法律合法成立并有效存续的一家有限责任
	公司: The Podger is a limited librity company is legally incerporated and validly crising pursuant to the laws of belaware, the United States of America;
	( 出质人有完全的民事权利能力和民事行为能力开展其业务、签署本股
	权质押合同,并根据本股权质押合同行使权利及履行义务: The Hogen bas foll civil right and apacts to goods it bainess, except this Think Equity Proget Costant and excienting to the Third Equity Piedge Costract,
	8 出质人签署本股权质押合同并根据本股权质押合同行使权利及履行义
	务所需的公司内部程序已经完成,代表出质人签署本股权质押合同的
	人士系出质人的有效授权代表,且经其签署的本股权质押合同对出质
	人具有约束力: The Plogo has corplead all the internal corporad for the excused on this Third Squity Rodge Contact and excive of the right and promass of the obigations in accediner will this Third Equity Pledge Costant his been excented by day ather zeaded by day ather zeal repearsative of the Producer and Sall. have binding effect on the Pledgor,
	6 出质人在本股权质押合同项下的义务是合法有效的义务,对其有约束力,
	并可按照本股权质押合同条款履行: The Piedge 's collent under this This Equity Plate Costact and witch shill have bishing effect or the Page or and could be implemented accedage to the poorisions of this Third Equity Piedge Contract;
	6 出质人签署本股权质押合同并根据本股权质押合同行使权利及履行文
	务不会且将不会违反以下文件或与以下文件相冲突:

	The exception lered and perferenance of the obligations pursual to the This This Migative by the Fedger do not wall not be in violain of or condicting with any of the Sollowing documents:
	0 由出质人作为一方的任何协议、合同或任何其他对其任何资产构成
	约束力的契约性文件: any agences, contract or asy other documents of contractual nature having timany of the Pledger's assess to which the Pledge is a party,
	● 出质人的公司章程及其德公司根本性文件;或 articles of association and other fundamental corporate documents of the Phodpor, or
	@ 任何对出质人适用的法律、法规、判决、裁决及裁定: any laws, regulations, judgment, ruling and adjudication applicable to the Pledgor,
	(6) 出质人已获得有关本股权质押合同之订立、履行和执行以及本股权质押
	合同项下交易所要求的或必要的所有授权、同意、批准和许可,并且该
	等授权、同意、批准或许可是合法有效的: All be adborizations, ensusion required or necessary for the enviruios, performane and excution of this This This This This Contract and for the transactions under this Third Equity Pleage Contact have been daily obtained by the Podger, which are railerine;
	1 出质人签署本股权质押合同并根据本股权质押合同行使权利及履行义务,
	是其为商业目的而作出的商业行为完全受民事和商事法律的约束: The exception heeof and encise of the obligations is accedance with this This This Equity Pidge Costant by the Pedger is the business belavler conducted for the purpose of business, which shall be fully subject to civil and business laws;
	(8)在其作为一方的、在中国进行的任何可法程序中,质押股权不会在起诉、
	判决、执行、财产保全或其他法律程序中享有任何豁免权或特权; In asy cagona judical procedings in PRC'n with as as as one patty, the fredged Equity including or proving to be proceding ridang & lingation. wagment, anfor cement, property preservation, or other indicial processions;

(9) 目前不存在任何涉及质押股权的、并将会对质押股权的价值或出质人根据本股权质押合同履行其义务的能力构成严重不利影响的任何仲裁、诉讼或行政程序,质押股权也未因任何财产保全程序面被查封或冻结; There consely dos as anitation, lite in the manus in the feature the feature mille mill mill will be in the related by also of bear ealth on the rales walled on the rales wal any property preservation poocedures; (00) 出质人合法拥有质押股权的所有权和处分权,质押股权的所有权和/或处
分权不存在任何争议,依法可以作为质押担保的标的物。如质押股权属于须经有关方面批准或同意方可质押的财产,出质人保证其已取得合

法:有次(付机准虎) || || || || || || || || || || || || || || || || || || || || || || || || || || || || || || ||||| || |||||| |||||||||||||||||||||||||||||||||||||||||||||||||||||| obtained valid and effective appooral or consent;

(1) 除本股权质押合同所设立的担保外,质押股权上不存在任何形式的担

保、共有、任何第三方权益、任何权属争议或其他任何可能给质权人

行使质权造成严重不利影响的情形,

Executive security craits main that Third Equily Ploats in as securiy on the Plotys in asy for, co-spiraction, may first of the Mater, or any lost of the flother,

(12) 出质人向质权人提供的所有资料、文件和凭证均为真实、准确、完整和

有效,并且以复印件形式提供的文件均与其原件相符。 All the naterials, decurests and eridges to the Pledges are tre, accurate, cemplete and effective, and the documents provided in platecopy are in conformity with the originals.

82 出质人作出的上述陈述和保证在本股权质押合同有效期内须始终保持正确无误,并且出质人保证将随时按质权人的要求提供进一步的文件。 The dovemention and manakis maked by the Photostado and all all be inne to accuation of the valid tem of this Tint Relatest, and the

47 亿贷款相关的第三次数核质押合同
The Third Equity Piedge in relation to 700 Million Loan

第九条承诺 Coverants

出质人向质权人承诺,从本股权质押合同生效之日起直至出质人在本股权质押合同

出我人心得人心人的人才的意见,但不是这里的意见,不得了人的几乎日下
到了的我们义务类型之上的意上主山的人士不会的人才的人才的人才 1. 你们 1. 你 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1.

81 出质人应维持其企业法人地位合法有效地存续,应遵守对其适用的所有法

The Fleagor that maintain the legitmate, and wild existences of the enterprise infly status, and comply with all the laws and registed to t

92 出质人应确保其经营性质和经营范围不会发生将对质权人在本股权质押合同

项下的权利、利益产生产质不利影响的改变。
The Ploger Dail course that in be business sope will not have any alsonation witch will have a Material of the Plotters of the Plodge unde this Third Equity Plodge Contract.

93 除按照本股权质押合同的约定处置质押股权外,本股权质押合同项下质押股

权由出质人占有和保管,并在本殷权质押合同有效期内由出质人持续占有和

保存 .
Unist the Plates in digoud of in acontace with the Requiry Freige Contact, be Piedge Contract it Think Regity Roge Cornschall be

94 一旦发生下列任何事件,出质人应在事件发生之日起十(10)个营业日内通知

质权人:
Upon countenes of any of the following events, the Pledges within ten (10) Business Deys after its occuments

力化优视关的第三次股权所押合同
The Third Equity Pledge in relation to 700 Million Loan

(1) 任何本股权质押合同第 10.1 条所列之进约事件。
any event of default specified under Article 10.1 of this Third Equity Pledge Costract,
(2) 本股权质押合同第8.1 条第(9)项提及的任何诉讼、仲裁或法律程序: any litigation, arbitration or legal proceoflings mentioned in Article 8.1 (9) hereander;
0) 质押股权权属发生争议或被采取包括但不限于查封、扣押、冻结、监管

等措施的 :
Occurance of asy disple over the ownership of the Pleases haring best alson on the Flodged Equity including but welling but we limited to the said on, squarazion, freezing, surveillance, etc ..

(0) 质押股权灭失、毁损:
Loss or destruction of the Pledged Equity;
(0) 任何产生或出质人已经知悉将会产生对出质人根据本股权质押合同履行其义务的能力构成严重不利影响的事件。 Occurrine of a the awaress by the Play could bat my materially affice the equility of the Platering in obligation in accodazes with this This This This This This This This Th Pledge Contract
95 出质人应当向质权人提供,且应质权人不时提出的合理要求提供有关本股权质押合同项下质押事项的所有文件、资料,并保证上述所提供之资料的真实性、准确性和完整性。 The Flodge skall provide the Pleages with all develop to the Pedge maters under the This Migrily Pioder Costrative the Pleage reasonally requires a ar time, and ensure the authenticity, accuracy and completenents of all the provided makerials as mentioned above
96 出质人应负责办理有关本股权质押合同项下质押股权的评估、公证、鉴定及保管等事宜并配合质权人办理质押股权的质押的批准及登记事宜:出质

人对上述事宜承担全部费用,相关评估、公证、鉴定等中介机构应事先获

得质权人认可。
The Produce abil be reposible for the matters such as evaluation, appraisal and preservation of the Rolard Rollar Roller Control and rooperate with the Proge appression and registerior of the Plaged Reply All be copines theref shall be bone by the Program intermatury og and be rolevant intermatury og and of
evaluat

ly7 亿贷款相关的第三次股权质押合同
The Third Equity Piedge in relation to 700 Million Loan

87 除本股权质押合同另有规定,未经质权人事先书面同意,出质人不得转让、赠与、再质押、以质押股权出资或以其他任何方式处置本股权质押合同项下的所有质押股权。 Il 7/11 17/04/2019 way of Pledged Equity or otherwise dispose of all Pledged Equity specified in this Third Equity Pledge Costract. 98 经质权人事先书面同意后,出质人转让本股权质押合同项下任何质押股
权所得的价款应依据本股权质押合同第11条约定予以执行。 10 / 1 / 1 / 1 / 0 / 0 / 0 / 1 / 1 / 1 / 1 / 1 / 1 / 1 / 1 / 1 / 1 / 1 / 1 / 1 / 1 / 1 / 2 / 2 / 2 / 1 / 1 / 1 / 2 / 2 / 2 / 2 / 2 / 2 / 2 / 2 / 2 / 2 / 2 / 2 / 2 / 2 / 2 / 2

在任何情况下,出质人根据本股权质押合同的约定转让本股权质押合同项在任何情况下, 出现人根据不仅仅仅仅有同时的足球让不仅仅只有同时间
下任何周利用股权不得提高的利益。
当地利用利用权不得提高返利人的利益。
http://www.blogs.com/w/index.com/spage Comarinacodanee with inspersions hetof by the Pedge dail ad lam t

99 除本股权质押合同另有约定外,如果 Kenon 或其他为本股权质押合同所述主债权提供担保的第三人以自己的财产为质权人的利益设定了担保物权, 出质人在此承诺,如果质权人放弃 Kenon 或该第三人提供的担保物权、担保物权顺位或者变更担保物权的,并不影响和免除出质人在本股权质押合

同项下的任何义务和担保责任,出质人的担保范围不因此减少。同时出质

人放弃要求质权人先行执行 Kenon 或该第三人提供的担保物权的抗辩权。

OLA PC ( ( 1 1 1 1 Keloli ( 1 1 ) 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 11 11 11 11 11 11 11 11 11 11 11 11 11 11 11 11 11 11 11 11 11 11 11 property security provided by Kenon or the third party.

ly7 亿贷款相关的第三次股权所押合同
The Third Equity Piedge in relation to 700 Million Loan

910 出质人承诺并保证,本股权质押合同项下质押股权的质押率(质押率指主债权项下的本金金额与质押股权(由出质人和进出口银行根据银团贷款就股权质押计算的方式进行计算的)对应的观致的经审计的净资产金额的比率(依据

中国会计准则确定)不超过百分之八十(80%):

| | || 2 | 1 | 2 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |

(1) 质权人有权随时核查质押股权的价值(以质押股权对应的观致的经审计

净资产金额计价)或委托具有相关资格和专业水平的资产评估机构评估

有关质押股权的价值。 The Pideges whall have the signing at any time the value of the Pidged Equipy (calculard on the basi of the suction of the reasure of the Posted But was assess while of the P Ocros Automotive) or entrust qualified and professional asset valuation institution to value relevant Pludged Equily

2 在观致体现于经审计的每个会计年度的财务报表中的净资产发生变化

导致本股权质押合同项下质押股权的质押率超过百分之八十(80%)的

情况下,出质人有义务就上述原因导致的质押股权的不足部分向质权人

提供额外的股权质押:(i)但受限于本第 9.10 条最后一句的规定;

(ii)除非质押的额外质押股权按照第4.1条规定允许被解除。

Want the net assets of Qeres Automotive as ridanced in Stocked if Sachments of each Fisch Year of Qoros Astamove value with mates the loan-beacher atto of the Regist Passesser creat (1939), bat Redges in obligation of the mating to the mating to included of Mallional Heled Share is permind to be relasse pursuant to Section 4.1.

0 在观致经审计的每个会计年度的财务报表中的净资产发生变化导致本

小儿花花机视频频三次数 R R P 小同
The Third Equity Pledge in relation to 700 Million Loan

股权质押合同项下质押股权的质押率低于百分之八十(80%)的情况下,

质权人应释放出质人在本股权质押合同项下设定的部分质押股权,但在

释放部分质押股权后剩余质押股权的质押率仍不得超过百分之八十

(80%)。

Were the net assets in the audied Eisancests of each Pisal Year of Coros Automotive varies which makes the losselo of the Pederal Royal Review Increased over than cight process (80%), the Fodged Equity established by the Pinger under this This Regity Pindge Centract, provised however that loan-sevalue ratio of the remaining Pledged Equity shall still not exceed eighty percent (80%) after such release.

上述质押股权的质押率应每年在注册会计师出具经审计的每个会计年度

的财务并表表示进行评估。
Tas-lovalise atio of the Pideled Equily reviladebovery year ight afte the sudied annul Fiancial Saturnat of ach Firel Year have bea given by
Carified Police Acc

即使本股权质押合同,包括第9.10条有任何其它规定,出质人无义务提供任何进一步的观致股权质押,除非其拥有可用的且未被用以提供担保或设立任何权利负担的观致假权(各方理解未被质押的股权不包括任何观致股权已被质押子进出口银行或被要求应质押子进出口银行或根据单独的协议质押于质权人)("未设立权利负担股权")。为免疑问,双方同意,为量子第一次股权质押之目的,未设立权利负担股权的定义亦不应包含已质押

或根据单独的协议被要求将质押于质权人的股权。

Notwithstading any the provision of this Equily Section 9.10, the Pedger shall have no collgation to plogo any forber quily ishers is Quote any forber quily ishers is Quote A usless it has available oguity or eacumbrane in Qoos Autorelive (it being androtood that sech optiv interests shall not include are quity interests shall not include are quit Qroo Autorcive alsoaly plated to Esim Bak required to Exim Bark a be Phage ander operator operator of Clancanters Sates" ("Dancarbers"). For already been pledged or ane required to be pledged to the Pledgee under other separate agreements.

47 亿贷款相关的第三次费核质押合同
The Third Equity Piedge in relation to 700 Million Loan

第十条违约事件 Event of Default

101 下列每项事件均构成本股权质押合同项下的过约事件:
Each of the following events shall continue as event of defisalt usdar fris Third Equity Plades Contact:
- (1) 出质人违反于本股权质押合同第 8 条所作之陈述和保证或第9条所作之承诺(因第 9.10(2)条所述的审计的观致每个会计年度的财务报表中的净资产发生变化导致本股权质押合同项下质押股权的质押率超百分之八十(80%)的情形不构成本第10 条规定的违约事件),可能严重影响履押股权的价值,并且在出质人知悉该等事项之日或在质权人发出要求出质人进行补救的通知之日中较早一日起

的十(10) 个营业日内,未能令人在个别说说,也不以下载的一点点点点的。
Telforder be Reprises de Remiss Articles of Cornerial bet be of Constantion of the Mages Latin Parties Parties Parties Partis Archites (

reasonable satisfaction within kn (10) Builess Days the date of the Pleage's amazeness of such event of the issuass of a active by the Pedges requiring the Pledeor to make remodies (whichever is earlier);

(出质人未向质权人如实说明任何本股权质押合同项下质押股权的

瑕疵,以致严重影响质押股权的价值,并且在出质人知悉该等事

项之日或在质权人发出要求出质人进行补救的通知之日中较早一

日尼的十(10)个营业日内, 未使令质权人满意地于计划-机-利来-利来-利来-利来-利来-利来-mis-rith-FinderThe Plater Restort Intelled to be Regel set its miller for Pades Materials Plakes in Plakes in Plake of the F

(8) 出质人未按照本股权质押合同约定办理质押股权的出质登记或变更登记手续,并且出质人在质权人发出要求出质人进行补救的通

4/7 亿贷款相关的第三次股权质押合同
The Third Equity Piedge in relation to 700 Million Loan

知之日起三十(30)个营业日内,未能开始进行令质权人满意的补救: The Plage f all o comple to plates agitus a stumation spirints on including in the Linds List List Liste Collect Plates Colares and a Pleager for and Pleager online be Pleage

(0 出质人中止或停止营业或进入破产、清算、歇业或其他类似程序, 或出质人被申请破产、清算,或被主管部门决定停业;
Thefletger wist up et knoises or mint ise less research of baixes buisses naymain e state timizes; provedag; a the fledge in fled
for bahrupty; lapid () 出质人违反本股权质押合同的约定擅自转让、赠与、再质押、以
质押股权出资或以其他任何方式处置质押股权: 质押股权出负可以 | [1] 行元文 ] 上 ] | 上 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
(6)质押股权存在共有、权属争议、被查封、被扣押或已设定质押等情 79.
- The existence of co-ownership dignit, sealed-up, sequentation or the establishenest of the pledge over the Piedged Equily,
(1) 出质人以任何方式(包括作为或不作为)妨碍质权人根据本股权质押合同第 11 条的约定处分质押股权:
The Redgeristeriess with the Pielge Equily acceding to the provision of Article II hostander in any form (iseluding at a consisten),

102 发生本股权质押合同第 10.1 条所列之任何违约事件后,质权人有权采取以

下一项或多项行动:
After Be occurrance of arth user Arth user Article 10.1 hareander, the Flodges shall be exitiled to take one of ex several of the following advos:

(1) 受制于第 11 条之规定可以书面通知出质人其意图依法采取拍卖或变卖

47亿贷款相关的第三次数核质押合同
The Third Easter Pledge in relation to 700 Million Loan

的方式处分质押股权,并以所得价款依据本股权质押合同第 11 条约定予

以执行;

sabject to Anticle 11 sotify in writing to Picket to dispose of the Piades of purposes to be law, and be possed a the law, and be possed a knowl from the law, and be possed a

0 书面通知 Kenon,要求 Kenon 为 Kenon 保证合同另行提供担保,以补

充或置换本股权质押合同项下质押股权担保: DLV LL N OF R (R (R (R ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ) ( ) ) ( ) ) ) ( ) ) ) ( ) ) ) ( ) ( ) ) ) ( ) ( ) ) ( ) ) ( ) ( ) ) ( ) ) ( ) ( ) ) ) ( ) ( ) ( ) ) ( ) ( ) ( ) ( ) (

0) 向本股权质押合同约定的有司法管辖权的人民法院提起诉讼;
File for lawsuit to the Poople's Court with juzialidianas is agread in this This This This This This This This Contract
() 行使法律及本股权质押合同赋予的其他权利。
exercise other rights graded by laws and this Third Equity Pledge Contract,

第十一条质权的实现 Realization of Right of Pledge

111 如发生一项触发事件,质权人有权依法采取直接拍卖或变卖的方式处分质

押股权,处分质押股权的所得价款应用于: In ass of occurner of a Tigge is catilial to dispose of the Piedged Equity pussual to the laws by direct auction of an lose for disposing of the Pledged Equity shall be applied:

(1) 清偿被担保债务;且 to pay off the Secured Indebtedness, and
(2) 向质权人支付质权人为实现本股权质押合同项下担保权益而支出的费用、

出质人在本股权质押合同项下应支付的其他任何费用、违约金、损害

贴修金以及因处分质押股权而需缴纳的税费;
to pay the Pladges all the fousline of the crediter's sights usdar the secured intersts sader this Third Equity Podge, Cortract paid by the Pledge, a fees, iquilated damages to be puld by the Pedger ander this Third Equity Piodge Costract, and all the tax invented a a resil of dayosi of the Progred Equity,

ly7 亿贷款相关的第三次股权所押合同
The Third Equity Piedge in relation to 700 Million Loan

Contract.

	112 在质权人依本股权质押合同第 11.1 条规定处分质押股权的过程中,敷权人有权依法采取下列行动: In the counce of disposal of the Pidged according to Article 11.1 herunda, De Prodper is entiled to take the following actions pursual to law:
	(1) 有权以质权人认为合适目公允的市场价格在适当的时间以直接拍卖或
	变实的方式处分质押股权: to dispose of the Pledged Equily by meass of direct and in a proper time and at a manitet price as the Pleagee thisks appression and fair,
	@ 要求出质人信付质权人为行使本股权质押合同或法律赋予其的任何权利
	而支付的必要费用; to require the Fedges to pay the Piedges necessary expenses for the exercise of any rights hareunder or granted by laws,
	0 就质押股权决定如何行使出质人作为观致的股东所享有的权利;to decide how to exacise all the rights career as the shanholder of Qoros Australive in respect of the Plaged Equity;
	6 就任何人提出的任何与质押股权有关的权利主张加以解决、达成和解、
	提请仲裁或诉讼程序或以其认为合适的其他方式行使或允许他人行使
	质押股权之上的任何权利; to reacter, settle, a include architation of this claim of trights and regarding the Poday of Poday digity, or to oncesses or partil of cares any right. over the Pledged Equity in such a masser as the Pledgee thinks proper,
	(0) 为实现质权人在本股权质押合同项下就与质押股权相关的任何权利.
	行使或采取法律允许的其他一切权利或行动 to executive asy other tight or tale any other as permithed by laws in order to realize any tight of the Prodged Equity user this This Equily Plage

质权人有权选择行使全部或部分上述权利或暂缓行使任何权利。
The Plades is crilled be chargest of a pris of the miss of the mind of any of at the may of a of any right se to exercise all or part of the abou

113 一经质权人要求,出质人须协助质权人取得与质权人实现其质权有关的一切

必要的批准或同意,或协助质权人办理其他一切必要的手续。 Upon required of the Plodges the Plodge in obtaining any approvals or permits indivensible to realise the Plotger's right, er assist the Ploage with asy char indispensable procedures

114 出质人在本股权质押合同项下的义务仪限于质押股权,且质权人有权但仅在质押股权提供担保的范围内向 Kenon 追索,但不得向出质人追索超过质押股权提供的担保,且出质人在本股权质押合同项下不得向任何出质人的关联方追索,包括 Kenon。为避免疑义,本股权质押合同在任何情况下不得增加 Kenon 在 Kenon 保证合同项下应付的金额或另外增加 Kenon 或出质人就被担保债务的其他责任(涉及质押股权的部分除外)。如果出质人根据本股权

质押合同处置股权所得收益超过被担保债务的金额,该等超过金额应汇至

Kenon 或出质人(根据 Kenon 的选择)。

Techarat of the main this This Equity Plates and the Program care Product the Program canaled by the count of the Plodged Equily and the Plodged Equily and the Plodges ball h usder this Ticle Begily Piedge's artilias, includes in the manufact in are in the evol that in a versited in accented indition with the Secured helphales (rise family respet lot be Production in the process of a disposition by be Proger in accessors will this Equity Plates Costant except the amound of Scound
Scound

115 在质权人书面善意通知出质人其根据本股权质押合同项下之条款处置质押股

1/7 亿贷款相关的第三次数权所押合同
The Third Equity Pledge in relation to 700 Million Loan

(2) 应拥有不可撤销的权利向质权人就质权人有权对之执行质押的、

Kenon 保证合同项下之未偿还的被担保债务提供等额现金以取代质

押股权,以替换由出质人根据股权质押合同所设立的质押:或

shall have the increasine tight to provide to the Pledged Equity equiry equiralest can' with a value opul to the Secured Indebtodes as enstanding under the Kenn Guatastes and with regards to witch the Pledge has the Pledge, to swap the Kodge stablished by the Pledger in accedance with the Title Bigsity Pledge Contract; or

(0) 可向质权人提供质权人事先书面同意的其他担保(包括但不限于由出质

人或任何第三方提供的其他股权质押或保证,等等),价值等于本股权

质押合同项下质权人有权执行的质押股权之部分.以替换由出质人根据

股权质押合同所设立的质押。

ILC Yorld For Pinter of Securities while in the Pietres in writing in alsou limitiation assess equily biologe in a paraste to be right to creative the Plage in a partent in P swap the Piedge established by the Piedger in accordance with the Third Equity Piedge Contract

116 如果质权人宣布根据本股权质押合同之条款执行质押股权的意向,且出质人向质权人提供上述 11.5(a)和(b)项下的一种选择方案,则质权人签不可撤销地同意,在任何情况下,在质权人执行本股权质押合同项下的质押之前,出质人有权优先自主决定行使 11.5(a)项下的选择权,或在经质权人事先同意的前提下行使 11.5(b)项下的选择权。在任何该等选择权被行使后,相应的质押股权之质押应当被解除,且有关各方应合作完成质押的变更及注销所需的程序。

If the Plages assesses the intention to excellente with is term, and if the Pidger offici the Piager offici the Piodge cose of the above swap optimated. 1.5 (a) the Plodge herevial increveable agree that the Pints to decise to executes such swep eytim used the swe option user 11.5(s) at its seep option under 11.5(s) subject to the pix consent of the Pages will pricily over the Production the Piedge Man West Picker of Pielged Prices Production and casedilition of the Redge

4/7 亿贷款相关的第三次股权质押合同
The Third Equity Piedge in relation to 700 Million Loan

117 如果任何第三人因任何原因对质押股权提出的任何主张,或基于任何原因

对质押股权的处分提出任何异议,则一切后昊和责任由出质人承担,该第三

人的上述主张和异议不影响质权人根据本股权质押合同的约定处分质押股权。 If any takes any claim to the Pledged Equity or raise any digeste in relation to the Pinged Equity due to any reason, all consequences and libilities arising therefers shall be been by the Padger, and suited to taffect the disposal of the Pindges Regary by the Pindges accomment to this Third Equily Holly Contact

第十二条费用 Fees

121 与本股权质押合同及本股权质押合同项下质押股权有关的一切税赋和费用( 如本股权质押合同的批准和登记费),均由出质人支付或偿付。 SEPACIAL PARTICLES POST POST LEASE SECT POSTERS TO ...
TRE That Bear and por and les in concrimit this This Mail Relatin to the Redged Bquily horseant (i e, pproval and regio

122 经质权人要求,出质人应立即向质权人全额补偿质权人在任何司法管辖地行

使或行使其在本股权质押合同项下或其中提及的任何文件项下的权利而发

生的所有必要且合理开支及费用,包括但不限于质权人按照本股权质押合

同第 11 条的约定处分质押股权而列支的合理的财务费用、律师费及诉讼费

用。

In the e leages the Pedge the Please in All internation in any intellection in the massales polis on the posses on any the Presses on any total by the Peace of arriott of any Sor the disposal of the Pledged Equity by the Pledges according to Article 11 betreander.

经出质人要求并且由出质人承担费用的情况下出质人可以行使本股权质押合同项下返还借出胶的权利;如果质权人未按本股权质押合同的要求出质人该等借出股权,应及时补偿出质人在相关司法管辖区域内就行使返还借出

股份的权利而支付的必要和合理的费用,包括但不限于合理的财务支出、律

师费用和诉讼费用。

Upon required by the Pedger and en the Piedger the Piedger shall be cirities to the right in vilation to the Beared Shared unles that This This This This This This This This Ploge Costant. If such Borcoved Shares are not relation in accordance with this Third Equity Plodge Costor, the Podges shall indermily the Podges innedately Ser noconary ad rasmable copans and for pid by the exercise of any ights in the Third Equity Ploge Contact in raspect of required todairery of be Bear, in any jurisdiction, including but not limited to the reasenable financial expenses, atterney fees and lifigation fors.

ly7 亿贷款相关的第三次股权质押合同
The Third Equity Piedge in relation to 700 Million Loan

123 出质人应当随时为本股权质押合同和其中提及的任何文件支付对出质人征

收的所有目前和将来的批准和登记费以及其他相关的税费。

९४.१७) १३ व श्रीम रिस्ट में शिली में स्टेश प्रदर्शन रूप से जाने से रहे हैं. इस कर की की कर कि में स्थित को किसी कर किया था। कि मिली है प्रदेश में 10 सितंब किया था। से 1 मिली

第十三条主体变更 Change of Parties

未经另一方事先书面同意,任何一方不得转让、出让其在本股权质押合项下的任何权利、义务。本股权质押合同对本股权质押合同各方以及其各自的承继者及受让人具有约束力。

Willion processority and asigned () respectively

第十四条信息披露 Information Disclosure

141 本股权质押合同项下任一方应对由任何一方对另一方提供或代表任何一方

向另一方提供的与本股权质押合同相关的所有文件(包括但不限于质押股权的评估报告、保险文件、出质登记文件等)有关的任何信息保密。但是,双

方及质权人以及观致有权:

17 26/04/2 V 27/2, 2017 17:17
Ally patry keto ball muinin to conferent to all deumani, and plate of the person to the Pidged Equity Will (and Satrel of the Pidged Equity). En Piedres and Octor Automotive are estitled to:

(1) 披露已为公众所知的该等信息(不包括由于披露方违反本条而使公众所

知的该等信息);

disclose such infermation that has beceme lo the public (excluding the information made looms to the portuire a reall of the perision by the disclosing party).

ે રૂક

(2) 在任何诉讼或仲裁程序中披露该等信息;
disclose such information in any litigation or arbitration p ocedure
(9) 在任何法律或法规的要求时,披露该等信息; liselose such information as required by laws or regulat
(6) 根据情况需要向任何政府、金融、税务或其他监管部门披露该等信息; Esclose such informati on to any gover stal, financial, tax or other regulatory authori
(> 根据情况需要向其专业顾问披露该等信息; disclose such information to its profession al consultant on an as non as nond basis;
◎ 在本股权质押合同第142条允许的范围内披露该等信息; disclose such information within the scope purmitted by Article 14 2 hereunder,
(7) 经受披露方同意披露该等信息。
disclose such information upon consunt of the disclosed party,
根据透用证券法律法规或任何主管法院或政府机构或任何证券交易 (8) 三
所之命令所需要进行的披露(包括但不限于因 Kenon 在纽约的一家证券交易所上市而适用的规则)。 Such disclosed purposition law applicable as neul of any lotter of by educt of any computest and one one more the liently to any stock exchange to be
diciosed (include reglas
142 质权人有权向将要或已经与质权人签订与本股权质押合同有关的任何转让或其他协议的任何一方(以下称"参与人")披露: The Holger as easilied to discose to ary pary who will the Plofes are assigment or cher agreement or ther agreement without of the Taint Beginy Fodge
- (1) 任何与本股权质押合同相关的所有文件(包括但不限于质押股权的评

ly7 亿贷款相关的第三次股权质押合同
The Third Equity Piedge in relation to 700 Million Loan

信报告、出版登记文件等) 的复制作; RI
any ony of the documents stated to this Thirdling but not limited to assessment repet, plodge registerion documents are, in relation to the Redged Equity); and

(2) 该质权人已经获得的与前述文件相关的任何信息。
any information that the Piedges have chansed to the above docume

但是.在参与人收到任何保密信息之前.该参与人必须向质权人提交其同意

按照本股权质押合同第 μ1条的条款保密的书面承诺。

before receiving any such costidential information ent that the Participant agrees to obterve the confidentiality specified in Article 14.1 bereunder to the Pledgee

143 上述第14.1 和 14.2 条的约定取代任何质权人在成为本股权质押合同一方之

前关于本股权质押合同已经作出的任何保密承诺。
Provideos postidatin Article 142 armonomal above Sall apersonals are consistantiality covenants that be Producting a party of this Engly Plage Contract, have made with respect to this Third Equity Pledge Contract.

第十五条修改与补充 Amondment and Supploment

151 质权人可以和出质人不时以书而方式修改本股权质押合同条款,如该等修改

涉及本股权质押合同批准和/或登记事项的变更的,则出质人有义务协同质权

人向主管机关办理变更批准及登记,任何据此作出的修改应对所有质权人及出质人具有约束力。

The Pedge and the Research of this This This This This This Piege Contact to times of the institution in change of the opportule and register one index competition authorities; any amendment made accordingly shall be binding upon all the Fledgee and the Piedger.

152 如果本股权质押合同的登记主管机关要求修改本股权质押合同,质权人和出质人同意签署一份本股权质押合同的修正案,前提是本股权质押合同的登记主管机关要求的针对条款和条件的修改不会对质权人及/或出质人施加任

47 亿贷款相关的第三次费核质押合同
The Third Equity Piedge in relation to 700 Million Loan

何预外义务, 除:事 >> 天 (天元 (天 ) -> 文 ->
) P weather (今 + refraction of fini Early Real Print Park (2017) -> 1 + (2) + 2 = 2 = P = (2 = 2 = 2 = 2 = 2 = 2 = 2 = 2 = 2 = 2 = 2 = (2

第十六条通知 Notice

161 任何根据本股权质押合同发往本股权质押合同任何一方的通知,请求、文

书或其他文件应当以书面形式以英文及/或中文按收件方不时书面指定的

地址或传真号并注明联系人(如有)发给收件方。各方指定的最初地址和传真

号以及联系人(如有)于本股权质押合同签字页中列明。

Posted in this Timber, Canada, asy other Sile to be seat lo any other Sile Ilia Ilid Iliati II find Contact in Libra (inde Contact is). Librar inde classical(in writing The address, and the costed person (if appically dui grated by the Parises as libed in the signing page of this This Equipt Piodes Contact

162 木殿权质押合同各方之间依据本殿权质押合同进行的任何通讯应在下列所

述情形时视为已经由收件方收到: Ave received of the stations. In paties hare provisions of this Third Equity Pedge Cantact shill be decared by the reciped by the recipel after

(0) 如通过人员递送,在实际交付时; If delivered in person, at the time of the actual delivery,
@ 如以传真传送,在传送完成并收到正确回号或传真报告时; If given by tax, at the time of a completion of transmission and a raceipt of correct feedback, or a receipt of fax report,
(0) 如以国际快递方式邮寄,在按一方向另一方最后通知的联系地址以国际快递投邮后第七(7)个营业日中午 12:00(北京时间)。

47 亿贷款相关的第三次数核原押合同
The Third Equity Pledge in relation to 700 Million Loan

If polse by international courier, at the citing time) of the severth (10) Business Day after a counted to a cented address last redited by the given party to the other party hereof

163 本股权质押合同任何一方变更联系人、地址或传真号后,应于变更完毕后五(5)个营业日内将该等变更通知另一方当事人。 Any party besto shall notify the other party of is change of centact person, addess, or for manber within the (S) Brainess Days after the change has been completed.

第十七条弃权和部分无效 waiver and Partial Invalidity

121 质权人和/或出质人没有或延迟行使本股权质押合同项下的任何权利不应被

视为放弃该等权利,质权人和/或出质人单独或部分行使任何该等权利不应排除其以其他方式或进一步行使该等权利或行使任何其他权利。本股权质押合同约定的权利和救济不排除法律赋予质权人和/或出质人的任何权利或

救济。

Neißer fallze to execise or delay in execuitate of the Pedge andre the Pedger under the This This This This Thelest per skall are of per skal any sisgle or patial stay tight pensible of the Prider from and individual of any themes, or execuing ary cher ight. The tights and results

172 如果在任何时候,本股权质押合同的任何条款在任何方面成为非法、无效

或不可执行,本股权质押合同其他条款的合法性、有效性或可服行性不受任何影响或减损。

If, a Lary time, any provision of this This Equily Redge Sligh, Invalid a unesfeceable in any appet, sedants the legality willtly willtly willtly willtly willtly willtly will provisions heroof shall be in any way affected or impaired.

第十八条适用法律和司法管辖 Governing Law and Jurisdiction

181 本股权质押合同受中国法律(包括但不限于中国现行有效的法律,中国国务院颁布的行政法规、决定和命令,中国国务院各部委及地方人民政府颁布的规章等,但不包括香港特别行政区,澳门特别行政区及台湾地区法律)管

4/7 亿贷款相关的第三次股权所押合同
The Third Equity Piedge in relation to 700 Million Loan

辖并依其解释。

This Tirid Equity Prodge Contract that be gound by and interested in accounter with the PRC laws finished to the currently effective law, the admisistative regulator, decident and by be State Council of PRC, the rules and registed by varios deputment of the State Coach as Ioans). bil National e Ragion ad Taima).

182 如发生与本股权质押合同有关的任何争议,各方应本着友好协商的原则予

以解决。如协商来能解决,则任一当事方有权将该争议提交观致住所地有管

辖权的人民法院通过诉讼解决。

Any dispute is consection wills this This Centred through friend y segetiation between the Partis. I to outhersent can be reached through negation, ary party is entified to submit the dispute to the People's Court with competent jurisdiction where Qoros Automotive is located.

第十九条合同文本 Cantract Versloa

191 本股权质押合同以中英文起草并签署。两种文本具有同等效力。 This Third Equity Piedge Contract in Chinese and English Both two versions shall prevall equally.
192 本股权质押合同未尽事宜,由出质人与质权人另行议定,并由出质人与质权人签署补充协议。如果该等补充协议涉及本股权质押合同己批准和/或登记

内容的变更,则该等补充协议应当依法于有关机关办理变更批准和/或登记

手续。该补充协议与本股权质押合同具有同等的法律效力。

Maners sol covered in this Tiel Equity Pledge Costant that be manakly by the Pedges, and the Plodges, and the Plotges and the Plotges shall enter into supplementary agement be subscribed on alumnim apport last on the application nation of this The Enefit Pication ( Prede Contact ) appensation and is Tiris Equipt Prog. Contract and have the equal legal effect.

193 本股权质押合同之附件为本股权质押合同的有效组成部分。 The appendices hereof shall constitute effective issegral part of this Third Equity Pledge Costract.

47 亿贷款相关的第三次数依所押合同
The Third Equity Piedige in relation to 700 Million Loan

194 本股权质押合同应签署染(7)份正式文本,出质人与质权人各执一份正本,

其余正式文本暂存于观致,用于本股权质押合同出质登记事宜,每份正式文本具有同等效力。

PPS H P 17-X 7 Pedge Costant Mall be contrade in Chapes and the Piedge chall respectively has ne engial. The remaining esignals dail be sans enlidhy.
In Qoos Attensive of t

(The nemaining part of this page is besamesomally left blankl

签字页 (1)

Skgnature Page (1)

出质人:Quession(2007)LLC
Pledgor: Quanna (2007) LLC 地址/Address1 机设 (1) Presidents Clarge:
机设计 (1) Presidents Clarge:
机 (1) Transman: Clarkets (Clarge:
机械 (1) The Lendsesse (1) Personalis (1) Personales ( 姓名/Name:
职务/Position: 年/year 日期/Date: 月/Moath 日/pay 签字页 (c)
Signature Page (2)

质权人: 奇瑞汽车股份有限公司
Pledgee: C2ery Assomobile Co. Ltd. 地址/rddress 邮编/ Postal Code : 负责人/ Person in Charpo : 电话/ Telephone:
电话/ Telephone:
传真/ Fax:
联系人/ Fax:
联系人/ Coatact Persons: 授权签字人/ Asthorized Signatiory: 公章/ official Seal 姓名/ News:
职务/position: 月/ Moath 日期/ Date: 年/ Year 日/ Day

Exhibit 4.24

47 亿贷款相关的第二次股权所押合同
The Second Equity Pledge Contract in relation to 700 Million Loan

Quanturs (2007) LLC

(作为出质人) Quinturs (2007) LLC (as "Pledgor") 奇瑞汽车股份有限公司

(作为质权人)

Chery Automobile Co. Ltd.

(as "Pledgee")

与 7 亿贷款相关的第二次股权质押合同

The Second Equity Pledge Contract in relation to 700 Million Loan

二0一七年3月9日 March 9 . 2017

与7亿贷款相关的第二次股权质押合同
The Second Equite Contract in relation to 700 Million Loan

本第二次股权质押合同于 2017 年 _3_月_9日由下列各方签订:
This Second Equity Pledge Costral is entered into on March 9, 2017 by and between:

1 Quantum (2007) LLC,一家依照美国特拉华州法律设立和存续的有限责任公司,其法定地址在 16192 Coastal Highway, Lewes, Delaware 19958, USA, 作为出质人(以下称"出质人"); (quotam (200) LLC, al Berly a limited to the local to the loss of the State of Delawar, the United States of Aminic, with is lingle Mass at US2 Coastal
Elighers, Leve, D.A.
2 奇瑞汽车股份有限公司,一家根据中华人民共和国("中国")法律合法成立并存续的有限责任公司("质权人")。 Chay Asteroble Co., Ltd., a limited libility compay day expaired and validy crising under the laws of the Propilite of China (the "PRC") (the "PRC") (the "PRC") (the "PRC") (

签于:

MIREAS

1 Kenon Holdings Ltd.("Kenon")为出质人的母公司。 Kenon Holdings Ltd ("Kenon") is the parent company of the Piedgon
2 观致汽车有限公司("观致汽车"或"观致")已与中国进出口银行("进出口银行"),中国建设银行股份有限公司苏州分行以及贷款协议所列多家贷款银行于 2012年 7 月 23 日签订了一份合同编号为 YT41121230018 的等值人民币叁拾亿元人民币/美元双币种固定资产银团贷款协议("第一份贷款协议")。根据并受限于第一份贷款协议的相关条款与条件,第一份贷款协议中的贷款人同意为观致提供总金额不超过价值人【: 【:】么行

as quindes Bak. Co., I.a., Suzlou Brancel Will can best in 'TT412129018 es 23 July 2012 will The Ensect Times Topen Times on C. Taxis Dax ", Casi Aprement, the lesslers in the First Lease to make available to the Qooo Automotive a long teem loan facility in an aggregate anomitade of the entraliant of

与7亿贷款相关的第二次股权质押合同
The Second Equity Pladge Contract in relation to 700 MSiton Loan

1 作为第一份贷款协议项下的一项先决条件,质权人于2012年7月23日签订了一份合同编号为 YT41121230018(A)的保证合同,为观致在第一份贷款协议项下 50% 的债务("奇瑞首次担保债务")提供不可撤销的无条件保证担保。

As a condition recolent under the Fixt Loan Ageement, the Pledge estered islo a guazantee deed with contract No. YT4 12230018(A) and dated 23 July 2012 by provide an investable and usessational granses covering 50% of the inderstive and the First Lan Ageonent (its "First Chary Secured Indebtalans')

4 Kenon 与质权人于 2015年11月5日进一步签订了一份保证合同("Kenon 首次保证合同"),受限于该合同的条款和条件, Kenon 同意就质权人首次担保债务的 50%提供不可撤销且无条件的保证担保,该保证担保的上限为 Kenon 首次保证合同规定的总金额("Kenon 首次担保债务")。 Preville and be Procession (it): "Tirit Kenne (COLOS Novenber 2013) pussels on video stored to revile assess or video sterial assisted to revile as trein (be "Tex Keral Mete to a maximum amount equal to the total senount as defined in the First Keron Guarantee. ﮨﯿ 观致已经与中国进出口银行、中国建设银行股份有限公司苏州分行,于

2015年5月12日签订了混合动力车型研发项目银团贷款协议("第二份

贷款协议"),其中第二份贷款协议中的贷款人同意按照第二份贷款协议

条款向观致提供总计本金额等值人民币 700,000,000元(大写:人民币获

亿元整)的长期贷款额度,其中美元贷款额度不超过等值人民币

480,000,000元(大写:人民币肆亿捌仟萬元整)。

400,000 by (2) - 1 - 2 (C - 1) - 12 - 12 - 12 - 12 - 12 - 12 - 12 - 12 - 12 - 12 - 12 - 12 - 12 - 12 - 12 - 12 - 12 - 12 - 12 - 12 - 12 - 12 - 12 - 12 - 12 - 12 - 12 - 12 - 1 430,000,000(RMB Four Eusted and Eighty Million) long tam loan facility pursuasi to the provisions of the Secord Lom Aggeement

ﺳﺮ

与7 亿贷款相关的第二次股权质押合同
The Second Equity Pledige Contract in relation to 700 Million Loan

	作为第二份贷款协议中的贷款人向观致提供贷款的先决条件之一,质权人已
	按照 2015年5月12日签署的《关于观致汽车有限公司能合动力车型研发项
	目等值人民币埃亿元银团贷款协议之保证合同》("奇瑞再次保证合同")的
	条款和条件,为观致在第二份贷款协议项下的债务,提供不可撤销的无条件
	的连带保证("奇瑞再次担保借务") As a condices precedest for the lender is the Security wallable for Qees Assemble, pursual to the terms and confilium est Schilisms et Schilissis et Schi is de "Guarantes Courant for RMB 0.7 & Notemant concring Project of Revearch and Development of Eriorial Model of Qorse Automotive Co., L.A " Lated I 2 May 2015 (th "Second Chery Carrante") the Pidge has preveditions and ject parantes for the labilities of Qoos Automotive under the Socond Loan Agreement (the "Second Chery Secured Indebtedness").
	2 Kenon 和质权人在2015年6月9日签订了一份保证协议以及在2015年11月
	13日对此进行了修订("Kenon 再次保证合同"),受限于该合同的条款和条
	件,Kenon同意根据上述协议的条款和条件就奇瑞再次保证合同项下的奇瑞
	再次担保债务的50%问题权人提供不可撤销的无条件的保证担保("Kenon
	再次担保债务") Kenn and to Polge exculted a Guantee Costael of June, 2015 a amended and 13 November 2015 (be "Seand Kenn Garrante"), adu visio Kesm aged o provide an in reveals and uncendlicosal guazates to the Redger for up 50% of the Second Chery Secured Delobals and Second Chary Garantes Ded. subject to the terra and conditions therein (the "Secomd Kenom Secured Endebtedness").
8	鉴于量子于 2016年 12月 21日向观致提供2 亿 5十万人民币的股东贷款,
	量子于 2016年 12月 21日向质权人提供了股权质押("量子第一次股权
	质押"),因此 Kenon 与质权人于 2016年12月 21日签订了一份解除
	协议("首次解除协议"),根据该协议的条款和条件,质权人同意部分
	解除 Kenon 首次保证合同项下的部分保证责任。Kenon 首次保证合同
	项下与 Kenon 首次担保债务相关的其余部分担保义务仍然受制于
	Kenon 首次保证合同("被促留的 Konon 首次相组佛名")

与7亿贷款相关的第二次股权质押合同
The Second Equity Pledge Contract in relation to 700 Million Loan

In consideration of the RMD: 50m harmades loss by Quatum of Qoros dated 21 December de passen dazes of Quantor de play by Question data 21 December 2016 (02:47 Tiret Relea remaint 7, pursuited of the terms and contralient of the Research on perially release and the Fint Kenn Guranter in the First Kense Guranter in till subject to the First Kens (the "Remaining Hirst Kenon Secured Indebtednens").

9 -- 量子和芜湖奇瑞将于本合同签署日前后以相同的条件同时向观致提供第一部分一定金额的股东贷款(分别称为"量子第一部分股东贷款"和"芜湖奇瑞第一部分股东贷款",统称为"第一部分股东贷款")。在第一部分股东贷款发放后,受限于量子的独立决定权,量子和芜湖奇瑞将以相同的条件在相同的时间观致提供第二部分一定金额的股东贷款(分别称为"量子第二部分股东贷款"和"芜湖奇瑞第二部分股东贷款",统称为"第二部分股东贷款") 。就芜湖奇瑞第一部分股东贷款和芜湖奇瑞第二部分股东贷款(如发放), 量子均将向芜湖奇瑞提供资金支持。 the "Trade B Wale Chery Load of the Tranke B Loose" ) o Ques on the ans data and with be nems. Quarten will provide establish 8 基于 Kenon 的申请,考虑到第一部分股东贷款、第二部分股东贷款的安排以及其他前提条件,与本合同相关,质权人已同意根据其与 Kenon 于本协议签署日签署的一份进一步解除和资金支持协议("进一步解除和资金支持协议")的条款和条件进一步解除 Kenon 在 Kenon 首次保证合同和 Kenon 再次保证合同(合称"Kenon 保证合同")项下与被保留的 Kenon 首次担保债务和 Kenon 再次担保债务(合称"Kenon 担保债务")相关的所有保证责任。

与7亿贷款相关的第二次股权质押合同
The Second Equity Pladge Contract in relation to 700 MSiton Loan

A reqused by Kessa and consideration of the Tracks A Loass and the Tracker B Class and be producer the Coastion, in coastion Wall Coastan Wall Coastan Wall Coastan Wall Coast Guazake (ogstar with be Scool Known Guaranter") and be Scoral Kenn Scated Schledent (needs and the Minders (First with with released in a firler released in a firler released cash supper agreement by and between the Pickges and Kesen on or about the date of this Costratt (the "Further Relate and Cull Support Agreement").

11 作为进一步解除和资金支持协议下首次解除相关担保义务的前提条

件之一,出质人同意订立本第二次股权质押合同且出质人同意根据本

第二次股权质押合同的条款和条件为质权人之利益在质押股权上设立第一

顺位质押。

A one of the enditions precedent to the first relevast gurantes pursual to the Parther Release and Cash Support Agreement, the Pholograpes to enter into bit Second Equity Plotge Collars and the Pinters and confition of the Second Equily Pinter Contact entrality plater over the

12 作为进一步解除和资金支持协议下首次解除相关担保义务以及芜湖

奇瑞提供芜湖奇瑞第一部分股东贷款的前提条件之一,Kenon 同意

向质权人支付人民币 194,250,000元("首次资金支持")。质权人

同意在进一步解除和资金支持协议中双方同意的条件下对 Kenon 进行支付。

As the confiders precedent to the first relevant guarantee obligations pursuant to the Firster Release and Cab Suggest Agencian of Tranche A Walu Clary Loo, Kenn abil py RMB19-25 million in 1970 million in the Pielge. The Podges has aged and Cash Futher Relass and Cair Supert Agremat to
pay to Kanna assumi as echan a

为此,双方立约如下:

与7 亿贷款相关的第二次股权质押合同
The Second Equity Pledge Contract in relation to 700 Mallion Loan

Therefore, both parties agres as follows:

第一条定义及解释 Definition and Interpretation

涂本第二次股权质押合同另有约定外,在 Kenon 再次保证合同中定义及解释的术语在本第二次股权质押合同中使用时应具有与其在 Kenon 再次保证合同中相同的含义。

Uses of series provided in this Second Equily Pedge Costrati, when its terms interpreted and defined in the First Kovon Guazantes an used in this Socoal Equily Pledge Corbact have the same meanings as they have in the First Kenon Quarantee.

第二条质押股权 Hedged Eauty

21 出质人以其持有的观致 5.165%的出资额股权(以下简称"质押股权")质押给质权人,为Kenon 于 Kenon 再次保证合同项下的,并在进一步解除和资金支持协议项下于首次生效日(定义见进一步解除和资金支持协议)解除的等值于人民币 194.250.000元本金(其中与利息、费用相关的支付义务将与金额为 194,250,000元的本金支付义务一并按比例承担,即 Kenon 再次担保债务的 55.5%)的所有义务和责任提供质押担保。"质押"指由本第二次股权质押合同明确设定的担保,包括授予或将授予质权人的对质押股权所拥有的所有权利、所有权和权益。受限于下述第 9.10 的规定,如果出质人及进出口银行计算出的用于计算银团贷款(于下文定义)中要求质押的股权的质押率对应的净资产发生变化,则质押融权予以相应调整,且质押股权对应的金额(以及在适用范围内质押股权的解除)应根据该等质押率(计算方式与出质人及进出口银行根据银团贷款的计算方式计算)调整至80%。为免疑问,量子根据本合同的任何规定提供的质押股权在任何时候均应受限于

其所持有的未设立权利负担的股权(定义见下)

The fir de de del Peder . 16% agtiz continution equip leil by it is Qeose Aukmetive (nesined on at be "Peter Area (sea Separt Areansk on a Caia Energine (seine Relate Cala Su Date is the answart of RMB 194,299,000 principal (under witch, the related collegation for interests and for released popertionally with the principal consection and of RMB 19-250.000, being 55.5% of the Kesses Secured Indebedess. "Pleige" mans the security argessed to be created by this Socond Egain Plate Contract issualles all of the right, this and islentlike helated to and to be rested in the Plages. Scheet of the Plages Baction 2000 to allest in and be in the equipy ledge requirement tot is the sys (definal below), be the answall of Pieded (ask Pietys), and Pietys (and in the cases and be loar waller the loan be loan be loa (an ibe load in be lieded by the Pieder in a p poorision of this Contract shall be at all times subject to the Uneneumbired Shares (as defined below) held by it

与7 亿贷款相关的第二次股权质押合同
The Second Equity Pledge Contract in relation to 700 Million Loan

22 质押股权指出质人在质押股权中及对质押股权所拥有的所有权利、所有权和校兰,包括但不限于下列权利内容:
The Featy of Equily measu all of the Indiatesses of the Pledges in and to the Pledged Equily, belluding bat without limitation to be following tights: (1) 受限于第 6条之规定,出质人有权从观致收取的与质押股权相对应的所有分红及其他任何性质的与质押股权相关的款项及相应的权利及利益: Sublect to be provisions onlined in Article 6, all dividend generated from the Product of any other and the consessions. (2) 受限于第 6 条之规定,出质人在关于设立观致的中外合资经营合同("
- 合资合同")及观致的章程("章程")项下就质押股权应享有的其他方所做出的任何保证、确认和开诺序对于机关
  Sipist bet pressess conserver tight and the same of arrest, sciowing mater make your pare with be
  Plater ball laws besight besity made to Sincers wall
- (1) 受限于第 6条之规定,出质人就质押股权在观致的合资合同和章程项下因任何其他才的任何违约而字有的任何变求进约赔偿的权利。
  Subject beller persions coluncial your treater and en the Plaged Equity, to claim for defusit composition ariuing only del default of allat by
  ar

23 触发事件
Trigger Eval

"触发事件"在如下情况下发生:(i)质权人已经依据任何奇瑞保证合同向对应的代理行付款,并且,该金额为 Kenon 原本于 Kenon 担保合同项下与 Kenon 担保债务相关的应当补偿的付款(且受限于 Kenon 保证合同项下关于偿付的所有规定),但是由于进一步解除和资金支持协议, Kenon 不再承担 Kenon 担保合同项下的付款责任("进一步解除的担保金额"),且(ii)在 Kenon 收到就该等支付义务发出的有效书而通知后 30个营业日内,质权人不能收到这些金额。为避免疑义 Kenon 就进一步解除的担保金额无义务向质权人或任何其他人士进行任何支付,且未进行该等支付不得构成 Kenon 于进一步解除和资金支持协议、Kenon 保证合同及其他协议项下的违约责任;然而,该等未予支付仅导致出于本第二次股权

质押合同第11条之目的规定的"触发事件" A "Trigge Evel" Mall ocur upen the coursed of ... (1) the nieval agent bak make and may Chery Cherstere the toped with annel with annel with anner we to usder fler Brances) be Water Sering Received Sch annus Shireing 10 Business 200 Stiles Receives a valis Primer (its: "The Chican Recires a vide Printer (internet in the Proge to such anount for the areast of dout . Kenner and any popular to the Presson and Region Ancenter Chief Ecland Curation (Reserver, to Kessen Curanter (1980), subscript, rates fallure to pay only results in a Trigger Event for purposes of Article 11 of this Second Equity Pledge Centract.

第三条担保范围 Scope of Security

31 质押股权依据本第二次股权质押合同所担保的主债权在任何既定时间内 (以下简称"主债权")为:Kenon 于 Kenon 再次保证合同项下的,并在进一步解除和资金支持协议项下于首次生效日(定义见进一步解除和资金支持

与7 亿贷款相关的第二次股权质押合同
The Second Equire Pledge Contract in relation to 700 Million Lean

协议>解除的等值于人民币 194,250,000元本金(其中与利息、费用相关的

支付义务将与金额为 194,250,000元的本金支付义务一并按比例解除,即 Kenon

面次相保债务的55.5%)的所有义务和责任。

The main codise' in ight secured by the Second Equity Plotge Coated abill be a any given ime (bassins) as the "Main Crediter". Dight"); lier main creative in the anount of the obigations and libilities of Kensa materials mich as relaced tour maint be miled doligations for interstrades and be related that bat poopertionally with the principal assoust of RME 194,250,000, baing 55.5% of the Keners Second Socured Indebtoshoss).

32 质押股权依据本第二次股权质押合同所担保的范围为下列各项之和(以下

简称"被担保债务").
The sequed by the Pledged Equity according to this Scood Bquiry Plodge Contract Anall be the sum of the following anounts (Beninather witned to at in "Searce
Ind

(1) 主愤权及因主债权产生的相关利息(包括但不限于任何利息,复息

及违约利息): The Main Creditor's Right and the interest, (includios) but net limited to any interest, compond interest) asiang on of the Main Crediter's Right,

(3) 质权人为实现本第二次股权质押合同项下的担保权益而发生的所有必

要且合理的费用(包括但不限于诉讼费用、财产保全费、差旅费、评估

费、拍卖费、律师费用、公证费用、执行费用等)以及出质人根据本第

二次股权质押合同应支付的任何其他必要且合理的款项。 I least of and instealine for and appasses paid by the Pier, and the make the store des Patent Carliant be mat internet for, etc.), and any older secure and seasonable fors which shall be berne by the Piedger in accordance with this Second Equity Pladge Contract.

33 本第二次股权质押合同项下被担保的主债权的履行期限为自奇瑞再次保证合同或 Kenon 再次保证合同生效日(以较早者为准)起,自奇瑞首次

与7亿贷款相关的第二次股权所押合同
The Second Equity Pledize Contract in relation to 700 Million Lean

保证合同本第二次股权质押合同项下被担保的主债权的履行期限为自奇瑞再次保证合同或 Kenon 再次保证合同生效日(以较早者为准)起,自奇瑞首次保证合同项下奇瑞首次担保期限之后十(10)日,或者质权人履行了奇瑞首次保证合同项下质权人所欠的奇瑞首次担保债务之后的两(2)

年,以较晚者为准。

The performan of the secued Main Creation's Rights under this Second Equily Pledge Centract that exempere from the effectiveness of the Second Chery Guaratee of the The pricement of the scoled Mail Codes in this Sceed Equily Pride: Comments of De Scott Carry Guarate, or to (2) your der be Pist Corry Grames of the Pister Garanee, et to (2 performs the First Chay Secured Indebtations owned by the First Chary Guarastes, whicheva is later.

34 对于质权人用于表明任何被担保债务(经观致盖章确认的对账单等)或出

质人在本第二次股权质押合同项下应付的任何款项的证明,除非出质人提

供充分有效的证据证明其存在错误应是质权人与 Kenon 或出质人间债权

债务关系的最终证据,对出质人具有约束力。

(1) 7) 2 (1) 2017 (1) 2017 - 11:27) 2017) 11:21 PM (1) 2017) 20:00 AM (1) 2018 Autocity and constructive por accessive in considerations on prov in consideracions misteks, so be the final proce of the crediter debter silationship between the Podges and Kenn or the Plodger, which shall be kinding on the Hollyon

第四条担保的性质和效力 Nature and Effectiventss of Security

41 出质人在本第二次股权质押合同项下的担保义务通常具有连续性,出质人的担保责任仅在被担保债务得到清偿时为止,并且不受出质人的股权结构、组织结构或业务经营的任何变更的影响。然而,如果在观致汽车下一会计年度的经审计财务报表以及此后的每一会计年度的经审计财务报表作出后(应在 2017年第一季度之后),(i)根据 12 亿人民币贷款("假团贷款")之股权质押合同(指由出质人与中国银行股份有限公司苏州分行间签订的观致汽车有限公司 C 平台衍生车型研发项目等值人民币壹拾贰亿元银团贷款之股权质押合同)出质人被要求向进出口银行、中国银行股份有限公司苏州分行以及兴业银行股份有限公司苏州分行就本第二次股权质押合同项下的质押进一步提供额外的股权质押("额外质押股权"),且满足该等额外的质押只有质押本第二次股权质押合同项下质押的全部或部分股

与7亿贷款相关的第二次股权质押合同

The Second Equity Pladge Contract in relation to 700 MSiton Loan

权,(i)出质人无法通过对观致汽车贷款的转换获得该等额外质押股权 ("贷款转换"),则本第二次股权质押合同项下全部或部分股权的质押( 金额等于依据银团贷款应予以质押的额外质押股权、但无法通过贷款转换获得的数额>将自动解除且质权人应采取一切可能要求采取的措施向有权机构解除该等质押,但前提多件是在该禁解除后,根据进出口银行、中国银行股份有限公司苏州分行以及兴业银行股份有限公司苏州分行的同意, 质权人有权对该等股权要求第二顺位质押。

加果电盾人参班戏的额外所抑股权心于8%的观致汽车股权。目局时用新人有足够的未设立权利负担的股权,如果进出口银行同意(已考虑到本股权质押合同),质权人有权在出质人持有的、未被质押的观致汽车股权的 2%的范围内("借出股份"),将出质人的该股权依据芜湖奇瑞汽车投资有限公司与中国银行股份有限公司苏州分行间签订的观致汽车有限公司 C 平台衍生车型研发商目等信人民币营给武亿元银团份散步股权质押合同,提供进一步提供额外的股权质押给进出口银行、中国银行股份有限公司苏州分行以及兴业银行股份有限公司苏州分行。为免疑义,如贷款人按额外股权质押条款处置了额外股权质押项下的借出股权,出质人不得向质权人就借出股权追索,前提是该等被执行的股权应抵销本股权质押合同项下另外要求出质人予以质押的一笔相等的金额并相应予以解除。

Onerally, the Photon's security oblig the Second Bagily Rodge Costant is of continuty whenin the security responditility of the Rodger dail be relaasd any with the Secured Indebtedess is puid of, which shill be be afficied by any changes made to the shareholding structure of buiness operations of the Pledge Bowever, if, after be issuase of the addemals of the next Fixal Year and each Fixal Year thereative (Wich should more before the first quated 6007), (i) 96. Blogical by the 12 Miller Blance (include to the Septin Product Contract on 12 Billion Boll on Spielas Spalaced Spalaced Spalaced Spalaced Spalares Spac Clain Limid Sales Bassi), to por ide a addional equip yoleg ("Addition) de quity in Ques Autor of Edm Ball Ball Park China Limited State of China Chies Limit under the Equity Pleage Coract and (ii) Addition) Pedged States Iseupla correction Cestiliat Costing Costing Costing Corporation ("Suses Corrential To plated under the Syndicated Loans to chaind from the start convesion, ball astematically be relassd and the Program as the Progence hall also all also all also as may be requ to dengilate the same plates with the completed that aller such elease, the Pedges shall have the right to requent a scense priority pickle over wet oplay, subject to the consent of Exim Bank of China Limited Su Zhou Branch, and Industrial Bank Co., Ltd., Su Zhou Branch

与7亿贷款相关的第三次股权质押会同 The Second Equity Pledge Contract in relation to 700 Million Loan

If the Addical Pleted States request to be Production of the Real in Quest Antonovive, Inc. In the extent of Pleige Connect), to Pleige that be entilette one up 201 measurabered of Research and Development of Che Plants of Christian Comments on Each Photos Coaster (on to Coline Coastes (of Chia Links) of Chilest (Louised De Chiles (Listi Beast, and book, if the skitions equity in Exim Beni, Back of Chiral Limiro Se. Zues Branch, and Datable, inc. Ltd. States parmants of the the the the theile. ass be entiled to barress against to Phologed y Pleiger with Bloces, povided that the answer of such equity interess to entread stall office and rolse, by an
open and revise

State Borrowel States shall be returned to the Photosably practised after sech Becomed Shares been released by the Leaders from the relevant additional existy plega. To the extent that such Becomed after the relevant after the relevant, and Pleiges seeks to exercise its rights make Section 11,1 betware, it shall, prise to caresiang such right, ream to Borowed Shees any be resided by the Photos and with resident in resident to reduce to Pledged Eights (to the extent of the Becess) for all pupposs berender and the pledge over any Pledged Eggirs that would as keges the pleanto value requirement set forth in Section 9.10, shall be released.

与7亿贷款和关的第二次股权所押会同 The Second Equity Pledge Contract in relation to 700 Million Loan

在不影响进一步解除及资金支持协议中第2条的规定的情况下,即使本第二次

殷权质押合同有任何其他规定,如果: Without prejudice to the classe and Cash Support Ageement, and sotwithstassing any ellers portsions or terms of this Second Equity Pleage Coracy, it

1 Kenon 向出质人就履行主债权项下的全部义务的履行提供与 Kenon 保证合同

中条款和条件提定实质性一致的保证担保: 或
Kenn provider the Pilages will purseles of all be obligation under in Min Coditor's Rights on shounlike in the mail condicos
as that set on in the Kenn

2 主债权已被全额清偿或解除, the Main Croditor's Rights have been satisfied and discharged in full,

则(1)被质押股权应从本第二次股权质押合同中自动解除且质权人应按要求向

出质人返还被质押胶权(以及全部借出胶权),(2)出质人于本第二次股权质押

合同项下的全部支付义务应被自动金部解除,且(3)本第二次股权质押合同

应自动修止。
Sea (1) the Plaged Equity Asil be assemnically related form bile Pleige Contract and the Pleige required to netware haves) by ite Plafge, (2) all chilgations ories by the Frager under this Second Equity Pedge Corract trail be automatically released and division in foll and (1) this Second Equily Plodge Coutant

42 本第二次股权质押合同的效力独立于 Kenon 保证合同,其不因 Kenon 保

证合同无效而无效。

The effectively of this Second Equily Pedge Cortract is intract is in Curantes. This Second Equily Podge Contract shill not become issualid as to invalidation of the Kenen Guarantees.

与7亿贷款相关的第二次股权质押合同
The Second Equity Pledge Contract in relation to 700 Million Lean

Kenon 和质权人在协商后可协议修改、补充 Kenon 保证合同的条款,而无 43 需征得出质人的同意。出质人将在变更后的债权的范围内承担担保责任, 但加重出质人责任的情形除外。 Econard & Ender may anned a supplimated the Kense Cuazantes upon egetiation withouthe consent of the Proger. The Ploger Anil usersly
responsibily while be cope of the annole
44 本第二次股权质押合同的效力以及本第二次股权质押合同项下质押的效力不受出质人或其他任何人的清算、合并、分立、重组、破产或是其他形式的股权结构、组织机构的改变或是对 Kenon 的债务所作的任何其他安排的影响。 reconsing basinces of the Second Exaze in clarge in clarks of Plage was this Second Expited by discussed by discussement made b Konnel of Ville of Piles anagement made b Kono
45 除进一步解除和资金支持协议下的资金支持安排外,出质人在本第二次股权质押合同项下为被担保债务提供的质押为一项独立的担保,不应被理解为与任何第三方就任何 Kenon 保证合同所提供的任何其他担保构成一项连带担保。 The Plodge provided by the Secured Inkbelders becades is as integrates security and shall set be controd as a joints security with any other securities portided by ary third party in relation to any Kenss Guarates, other than the calls support arangements costemplated under the Firster Release and Cals Supert Argectner.

第五条质押批准和登记 Pledge Approval and Registration

51 质权人及出质人应当于本第二次股权质押合同签署后二十(20)个营业日内将股权质押记载于观致的股东名册中,并按照中国法律、法规的规定,开始向观致的主管商务委员会办理本第二次股权质押合同的批准手续(如需),并在其后向观致的主管工商行政管理部门办理本第二次股权质押合同的登记手续。

ાર

与7亿贷款相关的第二次股权质押合同
The Second Equity Pledge Contract in relation to 700 Million Loan

The Fridge and be Production of the Octor Allent of Santation of Santolates within well (20) Basinses Bags of Qross Aucentive (if Stary) Plade sides quality fle for registerior of the Second with the cempelent Admisistation for Industry and Connected in charge of Qoos Asterotive pursual to the poovisions of laws and regulations of the PRC.

52 出质人应当于按照本第二次股权质押合同约定办理质押股权的批准和登

记时,将质押股权的他项权利证书及相关物权凭证(如有)交质权人保管。

被担保债务被全部清偿后的十(10)个营业日内,质权人应将上述文件原件退

还给出质人,并协助出质人办理注销出质登记的相关手续,由此发生的费

用由出质人承担。

Wen the Pedger processes the approval and registering to the Piedged Equity acceding to the Second Equity Ploge Cortract, be Plogos shall ativer to be Plogos for it kenjaged the octificals of the Plaged Equiry and relevals of progrimm (10). (12). Prizes Der 1981 the Seater (1989). The Seater (1981): 1982 to 1991 the S expenses incumed therefrom shall be borns by the Pledgor.

在至少被担保债务项下的本金的 50%被清偿之后(对应本第二次股权质押

合同签署日贷款协议项下的未清偿金额且受限于进一步解除和资金支持协

议的规定),出质人有权向质权人提出书面申请,以减少质押股权的 50%。

在质权人决议后的十(10)个营业目内(质权人不得无故保留该等解除决议)

与出质人办理减少的部分质押股权的注销出质登记的相关手续。出质人应

承担该等质押股权的减少所发生的费用。

After the principal andelying the Secured of by al least 50% (as censed to amounts custanding under the Loan Ageemant on the Acan Ageemant on the Aca of the Second Equiry Holes Coston and giving chiles and Cab Support Agress and the Program Prices of the Pedges teach formalities of the Pedges desireakon fremailited the decreased po the Pledged Equily with in Pasters within to (10) Business Days after and pursuall to the Plages that bear the foss and expenses aring form such

与7 亿贷款相关的第二次股权质押合同
The Second Equity Pladge Contract In Felation to 700 MSition Loan

53 本第二次股权质押合同项下出质批准及/或登记事项或观致名称发生变化,依法需进行股权质押的变更批准及/或登记的,出质人与质权人应在有关方知晓变更事项之原因之目起三十(30)个营业日内到有关批准及登记部门开始办理李更批准及经记。
Insective the agest before in the see the Second Person of Constructive of the America, we'r healt be appress ander in the reserved anders in the storment in
54 本第二次股权质押合同自有权主管商务委员会不加修改地批准本第二次股权质押合同(除非该等修改经双方书面同意)之日起生效,质押股权的质权自第二次股权质押合同在观致的当地有权主管工商行政管理部门办理出质登记之日设立。 This Second by beth parties and this offect append by computer Communical any changes to the Second Equily (nels Corbe the class collection of the Second (sales of this scome
55 为免疑问,尽管有其他相反约定,在本合同生效后,无论本股权质押合同是否完成本第 5.1、5.2、5.3、5.4条所述的任何完善手续,均不影响质

Pledge Costract with the locally competent Administration of Industry and Commerce in charge of Qotes Autornstive.

权人根据进一步解除和资金支持协议第2条的规定以及本合同的规定执

行本合同项下质押。

For architect of asy dobt, netwilstanding to the this Contact becemes effective, the Pidges shill have the piedge as estemplad hercunder pursual to the classe 2 of the Relass and Cata Supert Agreement and this Contact, any of the perfection formalities will respect to blis Central as a copyrite blish contrast

第六条股东权利的行使和股东义务的履行

Exercise of Rights and Performance of Obligations by the Shareholder

与7亿贷款相关的第二次股权所押合同
The Second Equity Pledize Contract in relation to 700 Million Lean

61 尽管出质人在质押股权中的及对质押股权所拥有的所有权利、所有权和权益已质押,自本第二次股权质押合同签署之日直至被担保债务被清偿之日止,出质人及观致应有权行使观致的合资合同和章程项下出质人及观致( 视情况而定)的全部权利,并履行其应尽的全部义务。 17.010 2017 2017 20:13 27-27 17:12 PM 2 2017 2 11:27 PM 17-2 11:25 AM 2017 2017 11:41 PM IS 2012 PM 2012 11:41 PM 15:10
Next 18:51 Secured The Progets Life and Mensive the Me Qoros Austomotive (as case may be) usder the JV Contract and the AoA of Qoros Automotive. 62 除非在 Kenon 保证合同和触发事件项下发生一项违约事件且该等违约事件处于持续状态,且质权人已经根据任何 Kenon 保证合同的条款就该等违约事件作出了通知(或己作出触发事件的通知),出质人应有权保持并行使其可能拥有的有关质押股权的任何表决权和分红权及其他权利。若在 Kenon 保证合同或和触发事件项下发生一项违约事件且该等违约事件处于持续状态,质权人已经根据 Kenon 保证合同的相关条款就该等违约事件作出了有效通知(或已作出触发事件的有效通知),出质人应确保质押股权的所有表决权和分红权及其他权利根据质权人的指示行使。 Usels as Event of Defail under the Researced and is continuing and socured and is continuing and solice of sich as Event of Deffell has been given by Medies in accondase with the larm of the Kesse of Trigat Benk bern given lant be stille the wille the wells to encline to world and in online and in oneins and in online and hotel in sschaal is theilail bat been wildly by is. Fledge in accomments (er miles of Thigge Even harteen (see Holges sistem in the Interceions of the Interceions of the Interceions o
63 出质人应维续遵守并履行与质押股权及作为观致的股东有关的全部义务和

费任.
The Pledger shill contines to abids by and perform all the obligation and suponection withine Holged Bquiry and as the thembrian

上家

质权人无需履行出质人对质押股权所应承担的任何义务或责任。质权人亦没

有义务就质押股权采取任何行动。质权人不因本第二次股权质押合同而就

质押股权对任何其他方承担任何义务或责任,除非法律另有要求。

2011/04/04/11 11:13 PM 2017/11/2017 11:12:47 PM 12/2017 17:42
The Plage do person any oligated to meterska and be lieded to release. The Propes Mall and Proped of be Proget o Second Equity Pledge Contract, except as otherwise required by law.

第七条出质人应提交的文件 Submistion of Documents by the Pledgor

21 出质人应确保在本第二次股权质押合同签署后二十(20)个营业日内质权人

从出质人处:成果致汽车处收到以下文件:
The Holger Asil casus that to the Redge of Sen Ques Ashmorive be following documents within twaty (20) Business Doy aflar cacelies of bis
Scondias Polage

出质人的股东同意出质人以所持有的质押股权质押给质权人的英文书 (1) 面文件的原件: the criginal Englids writen document of the Pedgor's shareholder approving the Pledge its Pledged Equity to the Pledges,
(2) 本第二次股权质押合同项下的股权质押记载于观致的股东名册的有关证明文件的复印件:
photocopies of the relevals uppering documents proving that this Second Equity Pledge Contact is recorded in the Register of Shartholders of Overs Automotive:
质权人合理要求出质人提供的其他文件。
any other documents as reasonably roquired by the Pledges to be provided by the Pledger. (3)
72 出质人应尽其努力使质权人在本第二次股权质押合同签署后九十(90)个营业日内或从出质人处或从观致处收到以下文件:

The Flogo will waterials is best effect that the Pedge et the Plater of the Productive ile following documents latest within intern (10) Bailess

(D) 证明观致的主管商务委员会已经批准本第二次股权质押合同的有关支 the rily ( guits )
(2) 证明观致的主管工商行政管理机关已经就本第二次股权质押合同办理出质登记的有关支持文件。 the elevel upporting development Admisistation for Industry and Comment in charge of Qoro Awomonive has carried outher plates
registerior for the Equipt Program
73 如果出质人根据本第二次股权质押合同提交的文件为复印件,则须经出质

人法定或授权代表签字,或者加盖观致公章以确认其为真实完整有效的文

件。如果出质人根据本第二次股权质押合同提交的文件来自境外,则该等

文件应符合中国法律法规及中国相关政府机关的要求。

| F = | | | || || || | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |

第八条陈述和保证 Representations and Warranties

81 出质人在此向质权人作如下陈述和保证: The Pledger hereby repeasents and warrants to the Pledgee as follows:
- (1) 出质人是依据美国特拉华州法律合法成立并有效存续的一家有限责任

The Plaiger is a limited libelly corpary, is legally incerpented and valify crising pursual to be laws of belowers, the United States of America,

(2) 出质人有完全的民事权利能力和民事行为能力开展其业务、签署本第二次股权质押合同,并根据本第二次股权质押合同行使权利及履行义

与7亿贷款相关的第二次股权质押合同
The Second Equity Pledge Contract in relation to 700 Million Loan

The Piolis Costaria and apperty to operate its business, excelle this Scond Equily Plodig Costract and person its obligation asserting to this Second Equity Piedge Contract;

(3) | 出质人签署本第二次股权质押合同并根据本第二次股权质押合同行使

权利及履行义务所需的公司内部程序已经完成,代表出质人签署本第

二次股权质押合同的人士系出质人的有效授权代表,且经其签署的本

第二次股权质押合同对出质人具有约束力;

The Fleager has completed all the second in regird on this Second Equity Prodes Count as bean exceded by this and promessative of bi Piedgor and shall have binding effect on the Pledgor;

(4) 出质人在本第二次股权质押合同项下的义务是合法有效的义务,对其

有约束力,并可按照本第二次股权质押合同条款履行: 1) 19 Your vi okie (4 years) (1 Mark 1 ) 1 ) 1 8 (1 x 7 ) 1 8 (1 ) 1 )
The Plage's obligations under bir Second Equinat and reliat and railable and railable in the Plogor ad

(> (>) 出质人签署本第二次股权质押合同并根据本第二次股权质押合同行使

权利及履行义务不会且将不会违反以下文件或与以下文件相冲突 :
The consisten kered and service ditered to the eligation pursual to this Second Equity Piedge Costast by the Plotger de sol and will be be in

0 由出质人作为一方的任何协议、合同或任何其他对其任何资产构成约束力的契约性文件:
any agesmall, contact or any other devel nature binding binding difect on any of the Holgor' assess to which the Piedger it a pury;

(1) 出质人的公司章程及其他公司根本性文件;或 ints of the Pindger: or articles of association and other fundamental corporate do

与7亿贷款相关的第二次股权质押合同
The Second Equity Pledge Contract in relation to 700 Million Loan

任何对出质人适用的法律、法规、判决、裁决及裁定; 国 any laws, regulations, judgment, ruling and adjudication applicable to the Plodgor,
(1) 出质人已获得有关本第二次股权质押合同之订立、履行和执行以及本

第二次股权质押合同项下交易所要求的或必要的所有授权、同意、批

准和许可,并且该等授权、同意、批准或许可是合法有效的: 11:11+1 1-1 1 -1 / 1 -1 / 2 × - 12-11 -- 1 -- 1 -- 1 × - 1 × 1 × 1 × 1 × 1 × 1 ×
All be aubotizions, costest as persuals or necessary be he contine or with and effective,

(7) 出质人签署本第二次股权质押合同并根据本第二次股权质押合同行使权利及履行义务,是其为商业目的而作出的商业行为,完全受民事和商事法律的约束: belaries and one todas of the ight and promanes of the obligations in accostance with the Second Equipes Liver,
(1) 在其作为一方的、在中国进行的任何司法程序中,质押服权不会在起诉、判决、执行、财产保全或其他注律程序中学有任何諮詢人权或特权。
Is any onglang is RC in wish is at a noverty, on Plated Equily askinst anjey any inmaily or pirilige in the pocestage withing be ligates,
judg
(9) 目前不存在任何涉及质押股权的、并将会对质押股权的价值或出质人根据本第二次股权质押合同规行其义务的能力构成严重不利影响的任何仲裁、诉讼或行政程序,质押股权也未因任何财产保全程序而被查封或冻结: There canaly doss not casable of perferning is chilations aconting to the Regity Piedy with will bers and relieves Enec on as relection in the cleares for ealed and

frozen due to any property preservation poccedures;

(00) 出质人合法拥有质押股权的所有权和处分权,质押股权的所有权和/或处

分权不存在任何争议,依法可以作为质押担保的标的物。如质押股权属

于须经有关方面批准或同意方可质押的财产,出质人保证其已取得合

法有效的批准或同意;

12:1 At 11:00 PM 2014 11:00 At 12:00 PM IST 1:0 PM IS Red In And Stopic 2016 11:00 PM Mich could be Blaudio Col be Black of the Black of the Black of the Black of the Page, t

(1) 除本第二次股权质押合同所设立的担保外,质押股权上不存在任何形式的担保、共有、任何第三方权益、任何权属争议或其他任何可能给质权人行使质权造成严重不利影响的情形,

Exect for the security craind in Marcial (1177)

(12) 出质人向质权人提供的所有资料、文件和凭证均为真实、准确、完整和

有效,并且以复印件形式提供的文件均与其原件相符。
All to manial, documents and eridance provided by the Redges to the Redges as trou, acounts, complete in plotocopy are in confeemity with the criginals.

82 出质人作出的上述陈述和保证在本第二次股权质押合同有效期内须始终保

持正确无误,并且出质人保证将随时按质权人的要求提供进一步的文件。 To abovenantions to researchise made by the Bedger sall all the time be accuration of the valid tom of this Social Brail Bourner of this Social Braily Pieder Courses, and

第九条承诺 Covenants

出质人向质权人承诺.从本第二次股权质押合同生效之日起直至出质人在本第二

次肥权质押合同项下的权利义务终止之日止:
The Fledge bestedy overania to the date of this Second Equity Prodec Costract antil be termination of the sights and obligations of the Eights and obliga under this Second Equity Pledge Contract, that:

与7 亿贷款相关的第二次股权质押合同
The Second Equire Pledge Contract in relation to 700 Million Lean

81 出质人应维持其企业法人地位合法有效地存续,应遵守对其适用的所有法 The Pedgor that maintain the legitimate, and validexistener of its enterprise legal craily status, and complexions appliable to it 92 出质人应确保其经营性质和经营范围不会发生将对质权人在本第二次股权质押合同项下的权利、利益产生严重不利影响的改变。
The Plotger hall easies the issues segs will not here any alsocial will have a Material Adverse Effect on the rights and interest of the Podge under this Second Equity Pladge Contract 93 除按照本第二次股权质押合同的约定处置质押股权外,本第二次股权质押合同项下质押股权由出质人占有和保管,并在本第二次股权质押合同有效期刊由出版人共共、
Unless Pedged Fraity in Listens with the providers of this Second Equip Plodge Costruments & Second Equip Photos Contract Asil Photos Contact Asil
bs posses 94 一旦发生下列任何事件,出质人应在事件发生之日起十(10)个营业日内通知质权人: currence of any of the following events, the Pledges within ton (15) Butiness Days after its occuments: Unio a (1) - 任何本第二次股权质押合同第 10.1 条所列之违约事件。
any event of default specified under Article 10.1 of this Second Equity Pludge Contract, (2) 本第二次股权质押合同第 8.1 条第(9)项提及的任何诉讼、仲裁或法律程序: any litigation, arbituation or legal proceedings mentioned in Article 8.1 (9) hezeunder, (1) 质押股权权属发生争议或被采取包括但不限于查封、扣押、冻结、监管等措施的:

Occurrence of any dispat over the ownership of the Pload Equity or masuns having bera taken on the limited to the sealed 4p.
sequentesion, feering, surveillase, es: ;

(4) 质押股权灭失、观损; Loss or destruction of the Pledard Equity:
(0) 任何产生或出质人已经知悉将会产生对出质人根据本第二次股权质押合同履行其义务的能力构成严重不利影响的事件。 Occurrence of or the emarants by the Production and that may materially of the Ploage of perferming in obligations in accordance with this Second Equity Pledge Contract.
95 出质人应当向质权人提供,且应质权人不时提出的合理要求提供有关本第二次股权质押合同项下质押事项的所有文件、资料,并保证上述所提供之资料的真实性、准确性和完整性。 The Ploge thall provide the Rodge with all decuments and materials in telation to the Piodge Costaat a the Podge Costaat a the Podge nasessby requires at any time, and cause the sulhenticity, accuracy and completeness of all the pornided materials as mentioned above
96 质人应负责办理有关本第二次股权质押合同项下质押股权的评估、公证、鉴定及保管等事宜并配合质权人办理质押股权的质押的批准及登记事宜: 出质人对上述事宜承担全部费用,相关评估、公证、鉴定等中介机构应事先获得质权人认可。 The Piedge shall be responsible for the matters such as evaluation, appraisal and preservation of the Piedged Equity under this Scond Equity Prodge Contact and cooperal with the People the Pledge approval and the Pledged Rail , AT the exponse thered bail be bone by the Podgo, and be relevant iskumediary
cegas of coluzion, and agraia
97 除本第二次股权质押合同另有规定,未经质权人事先书面同意,出质人不得转让、赠与、再质押、以质押股权出资或以其他任何方式处置本第二次股

权质押合同项下 (1)所有 (1) 2017-11-15 (1) 2017-11-12 (1) 2017-12-15 10:41 Photos abell ast trassis, post, to plates or make exploi
centrial or word Pluder Baily or the miss all Plugs

98 经质权人事先书面同意后,出质人转让本第二次股权质押合同项下任何质押股权所得的价款应依据本第二次股权质押合同第11条约
- 定予以执行。

It I Folge mitize comes of the Photos, proceded by mone of the Planed Equily specified in this Second Equily Plodge Corzect by the Podge Kail
be exceled is cerplanes with Art

在任何情况下,出质人根据本第二次股权质押合同的约定转让本第

二次股权质押合同项下任何质押股权不得损害质权人的利益。

In are as . the tuanter of the Feded in this Second Eggity Plade Counce in accedance will be promisions incent by the Poder the internt of the Pledgee

89 -- 除本第二次股权质押合同分有约定外,如果 Kenon 或其他为本第二次股权质押合同所述主债权提供担保的第三人以自己的财产为质权人的利益设定了担保物权,出质人在此承诺,如果质权人放弃 Kenon 或该第三人提供的担保物权、担保物权顺位或者变更担保物权的,并不影响和免除出质人在本第二次股权质押合同项下的任何义务和担保责任,出质人的担保范围不因此减少。同时出质人放弃要求质权人先行执行 Kenon 或该第三人提供的担保物权的抗辩权。 Ulalso darevia speriad ada lis Seonal, if Kensa o cher that party stabilites the tight of to tones on the Photos your the Indent of the Progetty waring to the Progenty would Kenna et be list paty, be sequace hereof, et the altern of the right of peopley will be flegal will be affect evently on the Ploage wares on the Plages w advanced execution of the right of property security provided by Kenon or the third party. 9.10 出质人承诺并保证,本第二次股权质押合同项下质押股权的质押率(质
- 押率指主债权项下的本金金额与质押股权(由出质人和进出口银行根据银团贷款就股权质押计算的方式进行计算的)对应的观致的经审计的净资产金额的比率(依据中国会计准则确定))不超过百分之八十 (80%):

The Picker in Person the the toe realise ratio (loas-to-ratio shall rele to the more the annunct to breaks une annumers and could to be anno masser and equipped by Main requiremat is calculated by the Plefer and EXM Basic parant to be Systems of the Proded Equity under this Second Equity Progr Costract shall ast exceed cighty percent (80%):

(1) 质权人有权随时核查质押股权的价值(以质押股权对应的观致的

经审计净资产金额计价)或委托具有相关资格和专业水平的资产

评估机构评估有关质押股权的价值。

The Pleges chil lave the right of the the the vilse the Pleaged Equity (alculated as be bail of the audiod as assets valie of the bulled bel of the bulled belly.

(ಪ್ರ 在观致体现于经审计的每个会计年度的财务报表中的净资产发

生变化导致本第二次股权质押合同项下质押股权的质押率超过百

分之八十(80%)的情况下,出质人有义务就上述原因导致的质押

股权的不足部分向质权人提供额外的股权质押:(i)但受限于

本第 9.10 条最后一句的规定;(ii)除非质押的额外质押股权

按照第4.1 条规定允许被解除,

Flast the net assets of Queen Automotive as cridited Financial Statements of each Fised Vear of Qeres Automotive varies which makes the loss to rains ratio of the Realer excede cighty percent (80%), the Plant is obliged to play concernials the include of the include pare of hatting pat of the is permitted to be released pursuant to Section 4.1.

(3) 在观致经审计的每个会计年度的财务报表中的净资产发生变化导致本第二次股权质押合同项下质押股权的质押率低于百分之八十(80%)的情况下,质权人应释放出质人在本第二次股权质押合同项下设定的部分质押股权、但在释放部分质押股权后剩余质

押股权的质押率仍不得超过百分之八十(80%)。

17 Mets are assuis in the mail field fear the of Qero Auses national on the mater the Plage Brain and the Pleage Barrer, proide however that he home bas rate of the remaining Pledged Equity shall still not exceed eighty percent (80%) after such release.

上述质押股权的质押率应每年在注册会计师出具经审计的每个会

计年度的财务报表后进行评估。

The loasto value ratio of the Pidged Equilabore shall be evaluation and Einancial Statemal Pinascal Statement of ann Eisea Pear press of can't by Centiful Pablic Accountant.

即使本第二次股权质押合同,包括第9.10 条有任何其它规定,出质人无义务提供任何进一步的观致股权质押,除非其拥有可用的且未被用以提供担保或设立任何权利负担的观致股权(各方理解未被质押的股权不包括任何观致股权已被减押于进出口银行或被要求应质押于进出口银行或根据单独的协议质押予质权人)("未设立权利负担股权") 。为免疑问,双方同意,为量子第一次股权质押之目的,未设立权利负担股权的定义亦不应包含己质押或根据单独的协议被要求将质押予质权人的股权。

Normithstading any ether provision of this Equiling Section 9.10, the Pleages skill have no obligation to plotge any further equiry interest in Qero Automotive aalas i hat aallat qaliy interest the from any seems as (tone Assembled bas salarines) and responses of Mansial ("Unnersered Share") For and and Shares in Shares in Shares of dentit, the parios aged the Plat Quanter Share Plater of "Theneumberd Share" shall also and include the shees which have arealy been pleased on are
nquired to be Plates to th

うな

101 下列每项事件均构成本第二次股权质押合同项下的违约事件: Each of the following events shall constitute an event of default under this So ond Equity Pladge C

满意地予以补救;

Default

(1) 出质人违反于本第二次股权质押合同第 8 条所作之陈述和保证或第9条所作之承诺(因第9.10(2)条所述的审计的观致每个会计年度的财务报表中的净资产发生变化导致本第二次股权质押合同项下质押股权的质押率超百分之八十(80%)的情形不构成本第 10 条规定的违约事件),可能严重影响质押股权的价值,并且在出质人知悉该等事项之目或在质权人发出要求出质人进行补救的通知之日中较早一日起的十(10)个营业日内.未能令质权人在合理范围内满意地予以补救; The fleager violate the portions of Renatis in Atticle & or Coreast in Atticle Previous Intinues of Clair Piezed Teal Flice I Teach Flice I Teach Fleal Year of Clair Michie 9.10 (2) Sail Art consinten Evel of Deliel (1) becement, which might makerially affect be wales the fried on the finalise of sales of a netic by the Pledges requiring the Pledgor to make remodies (whichever is earlier), (2) 出质人未向质权人如实说明任何本第二次股权质押合同项下质押股权的瑕疵,以致严重影响质押股权的价值,并且在出质人知悉该等事项之日或在质权人发出要求出质人进行补救的通知之日中较早一日起的十(10)个营业日内,未能令质权人

うち

The Pedge that o crise in the new of the Redge Sealty make this Second to the Reage, which manality after the Proge, which manily after the Piedger is makes freal of the Pied

(3) 出质人未按照本第二次股权质押合同约定办理质押股权的出质登记或变更登记手续,并且出质人在质权人发出要求出质人进行补救的通知之日起三十(30)个营业日内,未能开始进行令质权人满意的补救: The Field to makes to helps vejuralia procedures a allemitim processors as other and being in the Contrauling the Piedge require the Piedge toguing the Piedge to mailes for P (4) 出质人中止或停止营业或进入破产、清算、歇业或其他类似程序,或出质人被申请破产、清算或被主管部门决定停业或 The find to minstes in turines a enter into the processing of baknisg by liquilation, business, supend buiness, (9) 出质人违反本第二次股权质押合同的约定擅自转让、赠与、再质押、以质押股权出资或以其他任何方式处置质押股权: The Pedget tasks, gass, te-pleage or maias capital continuion by wing the Plodged Bquily er otherwise disposs of the Redged Equily in ary ether form in vidation
of the portu (6) 质押股权存在共有、权属争议、被查封、被扣押或已设定质押等情况: The existance of co-commisip dispute, sealed-up, sogustition or the establishems of the pledge over the Picked Equity; (7) 出质人以任何方式(包括作为或不作为)妨碍质权人根据本第二

次股权质押合同第11条的约定处分质押股权:

The Pleagur interfess with the Pledged to dispose of the provisions of Aricle 11 hersman in any form (including as or or or or or or or or or or or or unituding as or or orni

		102 发生本第二次股权质押合同第 10.1 条所列之任何违约事件后,质权
		人有权采取以下一项或多项行动: After the occurace of any event of farlander Article 10.1 hereaster, the Piodpess shall be midled to this one of a several of the following actions.
		(0) 受制于第11条之规定可以书面通知出质人其意图依法采取拍卖或
		变卖的方式处分质押股权,并以所得价款依据本第二次股权质押
		合同第11条约定于以执行; subject to Atlice 1 notify is writing the Platest to dispose of the Program of auction off passant to the law, and he proceded arrived from disposing of the Pledged Equity shall be implemented according to Article 11 hercurder,
		(2) 书面通知 Kenon,要求 Kenon 为 Kenon 保证合同另行提供担保,
		以补充或置换本第二次股权质押合同项下质押股权担保: sective in writing Keren of requiring it to provide security for the First Keren Guarantee to cerplement or security against the Pledged Equity under this Second Equity Pledge Contract;
		(3) 向本第二次股权质押合同约定的有司法管辖权的人民法院提
		起诉讼: File for lawsuit to the People's Court with jurisdiction as is agreed in this Second Equity Pledge Costract;
	(4)	行使法律及本第二次股权质押合同赋予的其他权利。 exercise other rights granted by laws and this Second Equity Pledge Contract.
		第十一条质权的实现 Realization of Right of Pledge
	111 如发生一项触发事件,质权人有权依法采取直接拍卖或变卖的方式
	处分质押股权,处分质押股权的所得价款应用于:

In ass of occareer of a Tigger Evest, the Plodges is critiked to dispose of the Piolent in the laws by direct accion or adling off, and the poceads atrival from the more

(1) 清偿被担保债务;且 to pay off the Secured Indebtedress: and
(2) 向质权人支付质权为实现本第二次股权质押合同项下担保权益

而支出的费用、出质人在本第二次股权质押合同项下应支付的其

他任何费用、违约金、损害赔偿金以及因处分质押股权而需缴

纳的税费:

to your fore for hearled for the realization of the reditor's rights under the scened biscusses and all be tax include of the finally fielder Contract, and all of the timents of the Pledged Equity,

112 在质权人依本第二次股权质押合同第 11.1 条规定处分质押股权的过

程中,质权人有权依法采取下列行动: In the couns of disposal of the Fedged Equily to Article 11.1 hereunder, the Prodges is entiled to take the following actions pursual to law; (1) 有权以质权人认为合适且公允的市场价格在适当的时间以直接拍

卖或变卖的方式处分质押股权: to dispose of the Pidaged Equity by maan of fixed auction or selling off a a proper time and at a market price as the Pladges thisks appressite and fair,
(4) 要求出质人偿付质权人为行使本第二次股权质押合同或法律赋予其的任何权利而支付的必要费用; to squire the Pladger to pay the Redges necessary expanses for the execuse of any rights bareunder or gasted by laws,
(3) 就质押股权决定如何行使出质人作为观致的股东所享有的权利;
to dastida bow to oxicite all the Rights asignsd by the Plazanbidan of Qaros Antomotive in 100px1 is in respect of the Pledged Equity,

(0 就任何人提出的任何与质押股权有关的权利主张加以解决、达成和解、提请仲裁或诉讼程序或以其认为合适的其他方式行使或允许他人行使质押股权之上的任何权利; to reolor, atthe Plotged Squiry in with a mazes as the stights nied by any person regarding the Podged Equity, or to exercise a partis ethers to excide are (\$) 为实现质权人在本第二次股权质押合同项下就与质押股权相关的任何权利,行使或采取法律允许的其他一切权利或行动。 to exercios, any ther tights or take asy ther actions as purplash of the Pedge in respect of the Prodged Equity user this Second Equily used this Second Equily 质权人有权选择行使全部或部分上述权利或暂缓行使任何权利。 The Pledgee is entiled to choose to exercise all or part of the above-enentioned tights or to nuspend the exercise of any right. 113 一经质权人要求,出质人须协助质权人取得与质权人实现其质权有关的一切必要的批准或同意,或协助质权人办理其他一切必要的手续。 Upon request by the Pledger shall assis the Pledge in obtaining any approvals or permiss indivel the Pledges in issist the Pledges with any other indispensable procedures . 114 出质人在本第二次股权质押合同项下的义务仅限于质押股权,且质权人有权但仅在质押股权提供担保的范围内向 Kenon 追索,但不得向出质人追索超过质押股权提供的担保,且出质人在本第二次股权质押合同项下不得向任何出质人的关联方追索,包括 Kenon。为避免疑义,本第二次股权质押合同在任何情况下不得增加 Kenon 在 Kenon 保证合同项下应付的金额或另外增加 Kenon 或出质人就被担保债务的其他责任(涉及质押股权的部分除外)。如果出质人根据本第二次股权质押合同处置股权所得收益超过被担保债务的金额,该等超过金额应汇至

Kenon 或出质人(根据 Kenon 的选择)。

The ffeatures and this Socond Equity and in a cent shall be limited by the Micros is called by novel be mile do be recorne agains the Pieges List Finges List Fielded bell be no recogne ander this Second Euroly Pledes Costant any of the Peders affliates, including Kenn. For the arroldese of daily Peder. Costast increase annual the may be programment the Kono Guarates or othernie studio Marcolasce with his Scond Equilities with his Scondace with his Scondaces with his Scondag exceed the amount of Secured Indebtedness, such excess shall be remitted to Kenon or the Pledger (at Kenon's option).

115 在质权人书面善意通知出质人其根据本第二次股权质押合同项下之条

款处置质押股权的意图之后,但在质权人实际就质押股权行使其权利

之前,出质人:

Afta the Plages within the Pledger in writing and board to dispos of the Ploaged Equity in accodance with the provisions made this Second Equily Prodes Costract, but price to Plodges actually exercising their rights in terms of the Pledged Equity, the Pledges

(a) 应拥有不可撤销的权利向质权人就质权人有权对之执行质押

的、Kenon 保证合同项下之未偿还的被担保债务提供等额现金,

以取代质押股权,以替换由出质人根据第二次股权质押合同所

设立的质押:或

shall here the increasing to the Pieders instad of the Pedent Easin equivalent cash with a raine equal to the Second Indited as a oriztading under Sacod Equily Hedge Costant, a

(b) 可向质权人提供质权人事先书面同意的其他担保(包括但不限于由出质人或任何第三方提供的其他股权质押或保证,等等),价值

等于本第二次股权质押合同项下质权人有权执行的质押股权之

部分以替换由出质人根据第二次股权质押合同所设立的质押。 may provide to the Piedges other securities which are agreed by the

Pledges in writing in advance (including but without limitation snother

equir plate or a ganzatos to be Plage or any Bird pury, etc.) with a value of the Plaged Squit Plage Cagity Reques Eqgily Kelge Contact

116 如果质权人宣布根据本第二次股权质押合同之条款执行质押股权的

意向,且出质人向质权人提供上述 11.5 (a)和(b)项下的一种选择方案,

则质权人态不可撤销地同意,在任何情况下,在质权人执行本第二次

股权质押合同项下的质押之前,出质人有权优先自主决定行使 11.5(a)

项下的选择权,或在经质权人事先同意的前提下行使 11.5(b)项下的选

择权。在任何该等选择权被行使后,相应的质押股权之质押应当被解

除,且有关各方应合作完成质押的变更及注销所需的程序。

If the Pedge answere the intention to enseent the larms, and it to terms, and if the Pladger offen ilse Pladge one of the love swep optimas A. 1. 5 (a) et 0). the Picket an entil increative and in ary vent will be decide necession was II. Sip at set discessed in Clip at and the cliences. The Plodge of the relevall in 190 was vach w option being exa cised that be relevant partiss ibill work co-operatively to complete gaing through procedures of modification and casedlation of the Plates

11.7 如果任何第三人因任何原因对质押股权提出的任何主张,或基于任何

原因对质押股权的处分提出任何异议,则一切后果和责任由出质人

承担,该第三人的上述主张和异议不影响质权人根据本第二次股权质

押合同的约定处分质押股权。

If any thed party makes any claim to the Bodged in ridation to the Espose of the Pinged Equily dur to any reason, all consequences and libilities aring thereform that be bearse by the Plain and dispose shall not affect the Misyonal of the Piedged Equily by the Piedges acceding to this Second Equily Plates Contract.

第十二条费用 Fees

121 与本第二次股权质押合同及本第二次股权质押合同项下质押股权有

关的一切税赋和费用(如本第二次股权质押合同的批准和登记费),均由出质人支付或偿付。

The Fedger shill bear and pay all the taxes and fearly Pledge Costact and is relation to the Pedge di quity because (i.e. approval and registration fors of this Second Equity Pledge Contract).

122 经质权人要求.出质人应立即向质权人全额补偿质权人在任何司法管辖地行使或行使其在本第二次股权质押合同项下或其中提及的任何文件项下的权利而发生的所有必要且合理开支及费用,包括但不限于质权人按照本第二次股权质押合同第11条的约定处分质押股权而列支的合理的财务费用、律师费及诉讼费用。 Upon request by the Pladger that indermily the Politiment and frasmals expressmable exproses and fees puddy the Plodges for is exercise of axercise of axercise of axercise of right in the Second Equiry Product or is any development many indiction, issubling but and limited to the reasonale fass and 经出质人要求并且由出质人承担费用的情况下,出质人可以行使本第二次股权质押合同项下返还借出股权的权利;如果质权人未按本第二次股权质押合同的要求出质人该等借出股权,应及时补偿出质人在相关司法管辖区域内就行使返还借出股份的权利而支付的必要和合理

的费用,包括但不限于合理的财务支出、律师费用和诉讼费用。

Upon request by the Piedger and on the Pedger shall be exilied to the right in relation to the required sedelivery of the Becomed Shared used that Second Equity Yedge Costant . If use Berned Shares on the May in need any right in this Second Equity Photes Coults . (1) the Contact in respect frequired in respect frequired in re the Berowed Shares, in any juristiction, including but not limited to the reasonable financial expenses, atterney free and lifigation fees.

123 出质人应当随时为本第二次股权质押合同和其中提及的任何文件支

付对出质人征收的所有目前和将来的批准和登记费以及其他相关的

税费。

The Plodger shall pay at any time all the apporal ask sgistration fess and edatar related tox included in the Sconst Equity Yorder Counce tad the documents mentioned hercunder.

第十三条主体变更 Change of Parties

未经另一方事先书面同意,任何一方不得转让、出让其在本第二次殿权质

押合项下的任何权利、义务。本第二次股权质押合同对本第二次股权质押

合同各方以及其各自的承继者及受让人具有约束力。

Without pier with consent for the other Party cannet transign any of the ights or obligations herusals. This Scotted by hishing you sach party hereto and its successor(s) and assigness(s) respectively.

第十四条信息披露 Information Discloure

141 本第二次股权质押合同项下任一方应对由任何一方对另一方提供或代

表任何一方向另一方提供的与本第二次股权质押合同相关的所有文

件(包括但不限于质押股权的评估报告、保险文件、出质登记文件等)

有关的任何信息保密。但是,双方及质权人以及观致有权:

Ass your hall maintain in comment tops, issues and the manus provided by or as baltisf on pary to be comments of the Prairis and on its Secal on is Security Beach on its bas

(1) 披露已为公众所知的该等信息(不包括由于披露方违反本条而使

公众所知的该等信息):

disclose such information that become in the public (excluding the information made larent of breach of breach of this pervision by the disclouisg party);

(2) 在任何诉讼或仲裁程序中披露该等信息: disclose such information in any litigation or arbitration poooedure;

(7) 在任何法律或法规的要求时,披露该等信息; as required by laws or regul
(0) 根据情况需要向任何政府、金融、税务或其他监管部门披露该等信息:

disclose such infermation to any governments), financial, tax or other regulatory autherities on an as overd basis,

(> 根据情况需要向其专业顾问披露该等信息; disclose such information to its professional consultant on an as-need basis;
(6) 在本第二次股权质押合同第14.2条允许的范围内披露该等信息; disclose such information withis the scope permitted by Article 14 2 hereunder,
ത 经受披露方同意披露该等信息。 disclose such information upon consent of the disclosed party;
(8) 根据适用证券法律法规或任何主管法院或政府机构或任何证券交易所之命令所需要进行的披露(包括但不限于因 Kenon 在纽约的一家证券交易所上市而适用的规则)。 > States in required pursuale to any applicable as by order et by onter et any computer content and autonized autonomation in New York by Konon
142 质权人有权向将要或已经与质权人签订与本第二次股权质押合同有关的任何转让观其他协议的任何一方(以下称:
The Production o Exclose to any party who will maker han make sith be Pridges ary assigness or other againes or other againes of the lookie the lookie t
- (1) 任何与本第二次股权质押合同相关的所有文件(包括但不限于质押股权的评估报告、出质登记文件等)的复制件;和

any of the devely), and

(2) > 该质权人已经获得的与前述文件相关的任何信息。
any information that the Pladese have obtained selated to the above document

但是,在参与人收到任何保密信息之前,该参与人必须向质权人提交其同意按照本第二次股权质押合同第 14.1 条的条款保密的书面承诺。
Northstading ton tourismes wills comminst the Partises ages to condestiality gedited in Aricle 14.1 hereads to the Parises
befor vearing a

143 上述第14.1 和 14.2 条的约定取代任何质权人在成为本第二次股权质押会同一方之

前关于本第二次股权质押合同己经作出的任何保密承诺。

Provisions portile in Article 14.1 and Arial 14.2 and Any confiliantialiy covensas bast the Products that Mediae, before becoming a party to Bis &oconille a party to Bis &oco

第十五条修改与补充 Amandmant and Supplainant

151 质权人可以和出质人不时以书面方式修改本第二次股权质押合同条款,如该等修改涉及本第二次股权质押合同批准和/或登记事项的变更的,则出质人有义务协同质权人向主管机关办理变更批准及登记,任何据此作出的修改应对所有质权人及出质人具有约束力。 The Port in the Plater data and mordial of this Scond Commises of Creat Commises (1 scia museum Lines of the Stange of Lection Lectures of Lectures and to beans of be Alamaio
152 如果本第二次股权质押合同的登记主管机关要求修改本第二次股权质押合同,质权人和出质人同意签署一份本第二次股权质押合同的修

正案,前提是本第二次股权质押合同的登记主管机关要求的针对条款

和条件的修改不会对质权人及/或出质人施加任何额外义务,除非该方

书面同意该等修改或额外义务。

If to required by the registation asherity in charge of this Second Equily Prodge Contract, the Piedge and the Podger and the Podger and the Second Equity Plotes, contact, provided that the tems and conditions as repressed by the reprises of this Scool Eugline of this Scool Europics on allimal bigglios and altimal objati

第十六条通知 Notise

161 任何根据本第二次股权质押合同发往本第二次股权质押合同任何一

方的通知、请求、文书或其他文件应当以书面形式以英文及/或中文

按收件方不时书面指定的地址或传真号并注明联系人(如有)发给收件

方。各方指定的最初地址和传真号以及联系人(如有)于本第二次股权

质押合同签字页中列明。

Pragas to is Secola (a say acter, easy del 1 lo be an the mass (sere to seen trem (seat chail bei perior (seat chai bei milaç in
Espish and clievast o be resisti as the sati Centract.

162 本第二次股权质押合同各方之间依据本第二次股权质押合同进行的

任何通讯应在下列所述情形时视为已经由收件方收到: Asy commited or make bowen to be pursual to the provisiou of this Second Equily Plodge Contract shall be decemed to have been recived by the scription after
salsfation of th

如通过人员递送,在实际交付时; (1) If delivered in parson, at the time of the actual delivery,

如以传真传送,在传送完成并收到正确回号或传真报告时;
If given by Sax, atthe time of a completion of transmission and a receipt of correct feadluck, er a receipt of cornect feadluck, er a receipt of fo (2)
(1) 如以国际快递方式邮寄,在按一方向另一方最后通知的联系地址以 na

快递投邮后第七(7)个营业日中午 12:00(北京时间)。 If poled by interational corien, at the time of 12:00 pm (Brilliag time) of the seventh (Thi) Business Day after a counter &ocument last been polities a contact addess last notified by the given party to the other party hereof

163 本第二次股权质押合同任何一方变更联系人、地址或传真号后,应于变更完毕后五i.(5)个营业日内将该等变更通知另一方当事人。
Any party hersto shall netity the change of contact person, Mass, or for munber within the (S) Batinss Days after the change has been complete

第十七条弃权和部分无效 Wisher und Partial Invalidity

171 质权人和/或出质人没有或延迟行使本第二次股权质押合同项下的任

何权利不应被视为放弃该等权利,质权人和/或出质人单独或部分行使

任何该等权利不应排除其以其他方式或进一步行使该等权利或行使

任何其他权利。本第二次股权质押合同约定的权利和救济不排除法

律赋予质权人和/或出质人的任何权利或救济。

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172 如果在任何时候,本第二次股权质押合同的任何条款在任何方面成为

非法、无效或不可执行,本第二次股权质押合同其他条款的合法性、

有效性或可履行性不受任何影响或减损。 If, it in the any worksino of this Second Singal, braild or unentities and any aspect, nuther the legally, wildly as the arguality of the

第十八条适用法律和司法管辖 Governing Law and Jurisdiction

181 本第二次股权质押合同受中国法律(包括但不限于中国现行有效的法律,中国国务院颁布的行政法规、决定和命令,中国国务院各部委及地方人民政府颁布的规章等,但不包括香港特别行政区、澳门特别行政区及台湾地区法律)管辖并依其解释。 1 / XCC / Pro/Crice/ // | 17 / 1 /> > ( +) + (
Tits (catalog) Play Collection) - 1 + 1 / 182 如发生与本第二次股权质押合同有关的任何争议,各方应本着友好协商的原则予以解决。如协商未能解决,则任一当事方有权将该争议提

交观致住所包含管辖权的人民法院通过诉讼师书。
Asy Mysti in casedios will bis Research thall be seated their and the states the leves the leves the leves the realind then the learly is locked

第十九条合同文本 Comtract Version

19.1 本第二次股权质押合同以中英文冠草并签署。两种文本具有同等效力。
This Second Equity Pludge Contract in Chisess and in Chisess and Eaglish. Both two venious shally preval apally.
192 本第二次股权质押合同未尽事宜,由出质人与质权人另行议定,并由出质人与质权人签署补充协议。如果该等补充协议涉及本第二次股权质押合同已批准和/或登记内容的变更,则该等补充协议应当依法于有关机关办理变更批准和/或登记手续。该补充协议与本第二次股权质押合同具有同等的法律效力。

Mars at coved be the Corace Catar tall be negating by be Phages and be Plages ad be Hiager ad be Hicages bel Bricales bel Bricgles ball ber ini.
suptimation apsemat ball be s

193 本第二次股权质押合同之附件为本第二次股权质押合同的有效组成部
分。 The appendices hensof shall constitute effective integral part of this Second Equity Pledge Contract.
194 本第二次股权质押合同应签署染(7)份正式文本,出质人与质权人各

执一份正本,其余正式文本暂存于观致用于本第二次股权质押合同

出质登记事宜, 每份正式文本具有同等效力。
This Scond Basily Pidge Costant seven () organish. The Plotgand the Plotgening kan one original. The remainte mighals ball be ared and lapt by Quest Automotive for the purpose of pleage registration of this Socced Equity Pledge Contract Each criginal thall have the sams validity.

(以下无正文)

(The remaining part of this page is intentionally left blank)

签字页(D

Signature Page (I)

出质人: Quarturn (2007) LLC
Pledgor: Quantum (2007) LLC

地址/ Address: 16192 Coastal Highway, Level, Delaware, USA 邮编/ Postal Cods: 19958 负责人/Person in Charge: Robert L. Rosen 电话/Telapbox: +65 6351-1788
传真/Fac:+65 6351 - 1798 联系人/ Costact Persons: Robert L. Rosen
授权签字人/ Authorized Signatories:

Por c. J. L. g. L. Rosen

职务 Position: Manager

日期Date 2017 年Near 3月06000 9 日/Day

签字页(2) Signature Page (2)

Second Equily Pledge

顾权人:奇瑞汽车股份有限公司

Pledgee: Chary Automobile Co. Ltd.

花胡经济技术升级机制路8号

地址/ Addess: No. 8 Chaagehan Road, Wahu Economic & Technological Developmant Ansa, 邮编/ Postal Code:241009 负责人Pezson in Cassigo: 于同以/Yin Tong yia 电话/Telephond: 传真/Fac 联系人/ Contact Passon 显之影/Cai Zhiyu

授权签字人/ Authorized Signatory:

pray

姓名 Name: Yin Tong Yue 职务/Position: General Manager 公 B/Otficial Seal

日期Dasic 2017 年代ex 3月 Bottle 9日, Dasy

姓名(Numa: 职务Position:

年Noa 月/260pth 日期Date: 日/Day

Certification of the Chief Executive Officer

I, Yoav Doppelt, certify that:

1. I have reviewed this annual report on Form 20-F of Kenon Holdings Ltd.; and
1. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report.

Date: April 21, 2017

By: /s/ Yoav Doppelt

Name: Yoav Doppelt Title: Chief Executive Officer

Certification of the Chief Financial Officer

I, Tzahi Goshen, certify that:

1. I have reviewed this annual report on Form 20-F of Kenon Holdings Ltd.; and
1. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report.

Date: April 21, 2017

By: /s/ Tzahi Goshen

Name: Tzahi Goshen Title: Chief Financial Officer

AI Terminal

Kenon Holdings Ltd.

6878_rns_2017-04-22_ecc456d2-2c46-431c-b375-21b8918723df.pdf

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Form 20-F/A

KENON HOLDINGS LTD.

Copies to:

53,719,667 shares

TABLE OF CONTENTS

EXPLANATORY NOTE ITEM 19. Exhibits

EXPLANATORY NOTE

ITEM 19. Exhibits

Index to Exhibits

SIGNATURES

Kenon Holdings Ltd.

2. CHERY'S OBLIGATIONS TO PAY RESTORED AMOUNT 奇瑞支付透还 资金的义务

1 FURTHER ASSURANCE

进一步保证

语言

管辖法律及执行

管辖法律和争议解决

52 Counterparts

ﺔ PROFE

Kenon Holdings Ltd.

与30亿贷款相关的第三次股权质押合同

鉴于:

第二条 质押股权 Podged Equity

第三条 担保范围 Scope of Security

第四条 担保的性质和效力 Nature and Effectiveness of Security

第五条 质押批准和登记 Pledge Approval and Registration

第六条 股东权利的行使和股东义务的履行

第七条 出质人应提交的文件 Submission of Documents by the Pledgar

第八条 陈述和保证 Representations and Warranties

承诺 Covenants 第九条

第十条 违约事件 Recort of Default

第十二条 费用 Yees

第十三条 主体变更 Chinge of Parties

第十四条 信息披露 Information Disclosure

第十五条 修改与补充 Amendment and Supplandat

第十六条 通知 Notke

第十七条 弃权和部分无效 walver and Partial Invalidity

第十九条 合同文本 Cantract Varsion

与7亿贷款相关的第三次股权质押合同

签于:

47 亿贷款相关的第三次股权所押合同

第二条 质押股权 Hedged Equity

第三条 担保范围 Scope of Security

第四条 担保的性质和效力 Nuture and Effectiventss of Security

hj7 亿贷款相关的第三次费权所押合同

第五条 质押批准和登记 Pledge Approval and Registration

第七条 出质人应提交的文件 Submission of Documents by the Pledgor

第八条 陈述和保证 Representations and Warranties

第九条 承诺 Coverants

第十条 违约事件 Event of Default

第十一条 质权的实现 Realization of Right of Pledge

第十二条 费用 Fees

第十三条 主体变更 Change of Parties

第十四条 信息披露 Information Disclosure

第十五条 修改与补充 Amondment and Supploment

第十六条 通知 Notice

第十七条 弃权和部分无效 waiver and Partial Invalidity

第十八条 适用法律和司法管辖 Governing Law and Jurisdiction

第十九条 合同文本 Cantract Versloa

签 字 页 (1)

签于:

第一条 定义及解释 Definition and Interpretation

第二条 质押股权 Hedged Eauty

与7亿贷款相关的第二次股权质押合同

与7亿贷款相关的第三次股权质押会同 The Second Equity Pledge Contract in relation to 700 Million Loan

第六条 股东权利的行使和股东义务的履行

第七条 出质人应提交的文件 Submistion of Documents by the Pledgor

第八条 陈述和保证 Representations and Warranties

第九条 承诺 Covenants

112 在质权人依本第二次股权质押合同第 11.1 条规定处分质押股权的过

第十三条 主体变更 Change of Parties

第十四条 信息披露 Information Discloure

第十六条 通知 Notise

质押合同签字页中列明。

第十八条 适用法律和司法管辖 Governing Law and Jurisdiction

第十九条 合同文本 Comtract Version

2. CHERY'S OBLIGATIONS TO PAY RESTORED AMOUNT 奇瑞支付透还资金的义务

第二条质押股权 Podged Equity

第三条担保范围 Scope of Security

第四条担保的性质和效力 Nature and Effectiveness of Security

第五条质押批准和登记 Pledge Approval and Registration

第六条股东权利的行使和股东义务的履行

第七条出质人应提交的文件 Submission of Documents by the Pledgar

第八条陈述和保证 Representations and Warranties

第十条违约事件 Recort of Default

第十二条费用 Yees

第十三条主体变更 Chinge of Parties

第十四条信息披露 Information Disclosure

第十五条修改与补充 Amendment and Supplandat

第十六条通知 Notke

第十七条弃权和部分无效 walver and Partial Invalidity

第十九条合同文本 Cantract Varsion

第二条质押股权 Hedged Equity

第三条担保范围 Scope of Security

第四条担保的性质和效力 Nuture and Effectiventss of Security

第五条质押批准和登记 Pledge Approval and Registration

第七条出质人应提交的文件 Submission of Documents by the Pledgor

第八条陈述和保证 Representations and Warranties

第九条承诺 Coverants

第十条违约事件 Event of Default

第十一条质权的实现 Realization of Right of Pledge

第十二条费用 Fees

第十三条主体变更 Change of Parties

第十四条信息披露 Information Disclosure

第十五条修改与补充 Amondment and Supploment

第十六条通知 Notice

第十七条弃权和部分无效 waiver and Partial Invalidity

第十八条适用法律和司法管辖 Governing Law and Jurisdiction

第十九条合同文本 Cantract Versloa

签字页 (1)

第一条定义及解释 Definition and Interpretation

第二条质押股权 Hedged Eauty

第六条股东权利的行使和股东义务的履行

第七条出质人应提交的文件 Submistion of Documents by the Pledgor

第八条陈述和保证 Representations and Warranties

第九条承诺 Covenants

第十三条主体变更 Change of Parties

第十四条信息披露 Information Discloure

第十六条通知 Notise

第十八条适用法律和司法管辖 Governing Law and Jurisdiction

第十九条合同文本 Comtract Version