Common use of Existing Shareholders Clause in Contracts

Existing Shareholders. and the Company agree to compensate and hold harmless the WFOE and the Proxy against all losses incurred or likely to be incurred for designating the Proxy to exercise the Trusted Rights, including but not limited to any losses arising from lawsuit, recovery, arbitration or claim lodged by any third party against them or administrative investigation or punishment imposed by the government departments, provided that such losses are not caused by the Proxy’s intentional or serious negligence.