TABLE OF CONTENTS

CLAUSE		PAGE

1.	DEFINITIONS AND INTERPRETATION	1

2.	REPRESENTATION AND WARRANTIES	2

3.	SECURITY	3

4.	RIGHTS IN RESPECT OF MORTGAGED PROPERTY	4

5.	PRESERVATION OF SECURITY	4

6.	ENFORCEMENT OF SECURITY	7

7.	APPOINTMENT OF A RECEIVER	9

8.	POWERS OF A RECEIVER	9

9.	FURTHER ASSURANCES	10

10.	INDEMNITIES	10

11.	POWER OF ATTORNEY	11

12.	RELEASE	12

13.	NOTICES	12

14.	ASSIGNMENTS	13

15.	SET-OFF	13

16.	SUBSEQUENT SECURITY	13

17.	COSTS AND EXPENSES	13

18.	MISCELLANEOUS	13

19.	LAW AND JURISDICTION	14

SCHEDULE 1		2

SCHEDULE 2		3

THIS EQUITABLE SHARE MORTGAGE is made on 2015

BETWEEN

(1) NEW WAVE MMXV LIMITED, a BVI business company incorporated under the laws of the British Virgin Islands with company number 1884011 and having its registered office at Kingston Chambers, P.O. Box 173, Road Town, Tortola, British Virgin Islands (the “Mortgagor”); and

(2) CREDIT SUISSE AG HONG KONG BRANCH as mortgagee (the Mortgagee”).

IT IS AGREED

1. DEFINITIONS AND INTERPRETATION

1.1 In this Mortgage, unless the context otherwise requires, words and expressions which are capitalised but not defined herein shall have the same meanings as are given to them in the Facility Agreement. In addition, the following definitions shall apply:

“BVI Act” means the BVI Business Companies Act, 2004 (as amended) of the British Virgin Islands.

“Companies Law” means the Companies Law (as amended) of the Cayman Islands.

“Company” means SINA Corporation, an exempted company incorporated in the Cayman Islands with company number 74902 and its registered office at PO Box 309, Ugland House, South Church Street, George Town, Grand Cayman KY1-1104, Cayman Islands.

“Enforcement Event” means the Mortgagee as lender having given a notice under clause 21.17(a) (Acceleration) of the Facility Agreement or the enforcement of this Security pursuant to clause 21.17(b) (Acceleration) of the Facility Agreement.

“Event of Default” has the same meaning as in the Facility Agreement.

“Facility Agreement” means the facility agreement relating to a US$230,000,000 term loan facility dated on or about the date hereof between the Mortgagor as borrower and the Mortgagee as lender.

“Insolvency Act” means the Insolvency Act, 2003 (as amended) of the British Virgin Islands. “Mortgage” means this share mortgage.

“Mortgaged Property” means the Mortgaged Shares and all rights, benefits and advantages now or at any time in the future deriving from or incidental to any of the Mortgaged Shares including:

(a) all dividends or other distributions (whether in cash, securities or other property), interest and other income paid or payable in relation to any Mortgaged Shares;

(b) all shares, securities, rights, monies or other property whether certificated or uncertificated accruing, offered or issued at any time by way of redemption, conversion, exchange, substitution, preference, option, bonus issue or otherwise in respect of or derived from any Mortgaged Shares (including but not limited to proceeds of sale); and

(c) all certificates or other evidence of title to any of the Mortgaged Shares now and from time to time hereafter deposited with the Mortgagee.

“Mortgaged Shares” means:

(a) 11,000,000 ordinary shares of a par value of US$0.133 held (or to be acquired after the date of this Mortgage, as the case may be) by the Mortgagor in the Company; and

(b) any shares acquired in respect of Mortgaged Shares by reason of a stock split, stock dividend, reclassification, distribution or otherwise.

“Parties” means the parties to this Mortgage.

“Register of Charges” means the register of charges of the Mortgagor maintained in accordance with section 162 of the BVI Act.

“Register of Members” means the register of members of the Company (including any applicable branch register and non-listed shares register) maintained by the Company in accordance with the Companies Law.

“Registrar of Corporate Affairs” means the Registrar of Corporate Affairs of the British Virgin Islands appointed under section 229 of the BVI Act.

“Secured Obligations” has the same meaning as in the Facility Agreement.

“Security” has the same meaning as in the Facility Agreement.

“Transfer of Ownership Form” means a transfer of ownership with W-9 form in the form set out in Schedule 1.

1.2 The provisions of clause 1.2 (Construction) of the Facility Agreement shall apply to this Mortgage as though they were set out in full in this Mortgage, except that references to ‘this Agreement’ will be construed as references to this Mortgage.

2. REPRESENTATION AND WARRANTIES

2.1 The Mortgagor hereby represents and warrants to the Mortgagee on the date of this Mortgage that:

(a) it is the sole legal and beneficial owner of the Mortgaged Property free from any Security (other than that created by this Mortgage) or other interest and any options or rights of pre-emption;

(b) any Mortgaged Shares are, or will be when mortgaged and charged, duly authorised, validly issued, fully paid, non-assessable, freely transferable and constitute shares in the capital of a Cayman Islands exempted company. To the extent they are in existence there are no moneys or liabilities outstanding or payable in respect of any such shares nor will there be any and they have not been redeemed nor cancelled in any way nor will they be;

(c) no person has or is entitled to any conditional or unconditional option, warrant or other right to subscribe for, purchase or otherwise acquire any Mortgaged Share;

(d) other than the Existing Transfer Restrictions, the Mortgaged Shares are freely transferable on the books of the Company and no consents or approvals are required in order to register a transfer of the Mortgaged Shares;

(e) the Mortgaged Shares are not issued with any preferred, deferred or other special rights or restrictions whether in regard to dividends, voting, return of any amount paid on account of shares or otherwise which are not expressly set out in the memorandum and articles of association of the Company;

(f) it has not received any notice of an adverse claim by any person in respect of the ownership of the Mortgaged Property or any interest in the Mortgaged Property; and

(g) it has not taken any action whereby the rights attaching to the Mortgaged Property are altered or diluted save to the extent such alteration or dilution is expressly permitted under this Mortgage.

2.2 The Mortgagor also represents and warrants to and undertakes with the Mortgagee that the foregoing representations and warranties will be true and accurate throughout the continuance of this Mortgage with reference to the facts and circumstances subsisting from time to time.

3. SECURITY

3.1 As a continuing security for the discharge and/or payment of the Secured Obligations, the Mortgagor as legal and beneficial owner hereby:

(a) mortgages in favour of the Mortgagee by way of a first equitable mortgage the Mortgaged Shares; and

(b) charges in favour of the Mortgagee, by way of a first fixed charge, all of its right, title and interest in and to the Mortgaged Property including all benefits, present and future, actual and contingent accruing in respect of the Mortgaged Property.

3.2 The Mortgagor hereby agrees to deliver, or cause to be delivered, to the Mortgagee on the date hereof and in a form and substance satisfactory to the Mortgagee:

(a) five executed but undated Transfer of Ownership Forms; and

(b) an executed irrevocable proxy and power of attorney in the form set out in Schedule 2.

3.3 The Mortgagor shall deliver, or cause to be delivered, to the Mortgagee:

(a) promptly, but in any event within 30 days after the date hereof (or such longer period as is agreed by the Mortgagee), provide the Mortgagee with five executed, medallion signature guaranteed but undated Transfer of Ownership Forms; and

(b) at any time and from time to time thereafter, promptly following a written request from the Mortgagee, such number of executed, medallion signature guaranteed but undated Transfer of Ownership Forms as the Mortgagee shall specify in such request.

3.4 Without prejudice to Clause 5.10(b), immediately upon the issue of any share certificate in relation to any Mortgaged Share or Mortgaged Shares, the Mortgagor shall deliver, or cause to be delivered, to the Mortgagee the original of any such share certificate.

3.5 The Mortgagor shall, within 5 Business Days after execution of this Mortgage:

(a) create and maintain a Register of Charges (to the extent this has not already been done) in accordance with section 162 of the BVI Act;

(b) enter particulars as required by the BVI Act of the security interests created pursuant to this Mortgage in the Register of Charges and immediately after entry of such particulars has been made, provide the Mortgagee with a certified true copy of the updated Register of Charges; and

(c) effect registration, or assist the Mortgagee in effecting registration, of this Mortgage with the Registrar of Corporate Affairs pursuant to section 163 of the BVI Act by

making the required filing, or assisting the Mortgagee in making the required filing, in the approved form with the Registrar of Corporate Affairs and (if applicable) provide confirmation in writing to the Mortgagee that such filing has been made.

3.6 The Mortgagor shall:

(a) procure that the following notation be entered on the Register of Members immediately upon the time of issuance of the Mortgaged Shares:

“11,000,000 shares issued as fully paid up and registered in the name of NEW WAVE MMXV LIMITED are mortgaged and charged in favour of CREDIT SUISSE AG HONG KONG BRANCH pursuant to a share mortgage dated [Date], as amended from time to time.”; and

(b) by 10.00 am Eastern Standard Time on the date after the date of the issuance of the Mortgaged Shares, provide the Mortgagee with an email containing a PDF copy of a book entry statement relating to the Mortgaged Shares from the Register of Members provided by the Company’s transfer agent with the annotation referred to in paragraph (a) above (with the original to follow in the mail promptly thereafter).

4. RIGHTS IN RESPECT OF MORTGAGED PROPERTY

4.1 Unless and until the occurrence of an Enforcement Event:

(a) the Mortgagor shall be entitled to exercise all voting and consensual powers pertaining to the Mortgaged Property or any part thereof for all purposes not inconsistent with the terms of this Mortgage or the other Finance Documents; and

(b) the Mortgagor shall be entitled to receive and retain any dividends, interest or other moneys or assets accruing on or in respect of the Mortgaged Property or any part thereof.

4.2 The Mortgagor shall pay all calls, instalments or other payments and shall discharge all other obligations, which may become due in respect of any of the Mortgaged Property. The Mortgagee may at any time if it thinks fit make such payments or discharge such obligations on behalf of the Mortgagor. Any sums so paid by the Mortgagee in respect thereof shall be repayable on demand and pending such repayment shall constitute part of the Secured Obligations.

4.3 The Mortgagee shall not have any duty to ensure that any dividends, interest or other moneys and assets receivable in respect of the Mortgaged Property are duly and punctually paid, received or collected as and when the same become due and payable or to ensure that the correct amounts (if any) are paid or received on or in respect of the Mortgaged Property or to ensure the taking up of any (or any offer of any) stocks, shares, rights, moneys or other property paid, distributed, accruing or offered at any time by way of redemption, bonus, rights, preference, or otherwise on or in respect of, any of the Mortgaged Property.

4.4 The Mortgagor hereby authorises the Mortgagee to arrange at any time and from time to time prior to or after the occurrence of an Event of Default for the Mortgaged Property or any part thereof to be registered in the name of the Mortgagee (or its nominee) thereupon to be held, as so registered, subject to the terms of this Mortgage and at the request of the Mortgagee, the Mortgagor shall without delay procure that the foregoing shall be done.

5. PRESERVATION OF SECURITY

5.1 It is hereby agreed and declared that:

(a) the security created by this Mortgage shall be held by the Mortgagee as a continuing security for the payment and discharge of the Secured Obligations and the security

so created shall not be satisfied by any intermediate payment or satisfaction of any part of the Secured Obligations;

(b) the Mortgagee shall not be bound to enforce any other security before enforcing the security created by this Mortgage;

(c) no delay or omission on the part of the Mortgagee in exercising any right, power or remedy under this Mortgage shall impair such right, power or remedy or be construed as a waiver thereof nor shall any single or partial exercise of any such right, power or remedy preclude any further exercise thereof or the exercise of any other right, power or remedy. The rights, powers and remedies herein provided are cumulative and not exclusive of any rights, powers and remedies provided by law and may be exercised from time to time and as often as the Mortgagee may deem expedient; and

(d) any waiver by the Mortgagee of any terms of this Mortgage shall only be effective if given in writing and then only for the purpose and upon the terms for which it is given.

5.2 Any settlement or discharge under this Mortgage between the Mortgagee and the Mortgagor shall be conditional upon no security or payment to the Mortgagee by the Company or the Mortgagor or any other person being avoided or set aside or ordered to be refunded or reduced by virtue of any provision or enactment relating to bankruptcy, insolvency, administration or liquidation for the time being in force and, if such condition is not satisfied, the Mortgagee shall be entitled to recover from the Mortgagor on demand the value of such security or the amount of any such payment as if such settlement or discharge had not occurred the payment of which amounts shall, for the avoidance of doubt, form part of the Secured Obligations.

5.3 The rights of the Mortgagee under this Mortgage and the security hereby constituted shall not be affected by any act, omission, matter or thing which, but for this provision, might operate to impair, affect or discharge such rights and security, in whole or in part, including, and whether or not known to or discoverable by the Company, the Mortgagor, the Mortgagee or any other person:

(a) any time or waiver granted to or composition with the Company, the Mortgagor or any other person;

(b) the taking, variation, compromise, renewal or release of or refusal or neglect to perfect or enforce any rights, remedies or securities against the Company, the Mortgagor or any other person;

(c) any legal limitation, disability, incapacity or other circumstances relating to the Company, the Mortgagor or any other person;

(d) any amendment or supplement to any Finance Document or other document or security (including any amendment the effect of which is to change the nature or amount of any facilities made available thereunder or to change the nature or extent of any obligations thereunder);

(e) the dissolution, liquidation, amalgamation, reconstruction or reorganisation of the Company, the Mortgagor or any other person; or

(f) the unenforceability, invalidity or frustration of any obligations of the Company, the Mortgagor or any other person under any Finance Document or any other document or security.

5.4 Until the Secured Obligations have been unconditionally and irrevocably satisfied and discharged in full to the satisfaction of the Mortgagee, the Mortgagor shall not by virtue of any payment made hereunder on account of the Secured Obligations or by virtue of any enforcement by the Mortgagee of its rights under, or the security constituted by, this Mortgage or any Finance Document or by virtue of any relationship between or transaction involving the

Mortgagor and/or the Company (whether such relationship or transaction shall constitute the Mortgagor a creditor of the Company, a guarantor of the obligations of the Company or in part subrogated to the rights of others against the Company or otherwise howsoever and whether or not such relationship or transaction shall be related to, or in connection with, the subject matter of this Mortgage):

(a) exercise any rights of subrogation against the Company or any other person in relation to any rights, security or moneys held or received or receivable by the Mortgagee or any person;

(b) exercise any right of contribution from any co-surety liable in respect of such moneys and liabilities under any other guarantee, security or agreement;

(d) receive, claim or have the benefit of any payment, distribution, security or indemnity from the Company or any such co-surety; or

(e) unless so directed by the Mortgagee (when the Mortgagor will prove in accordance with such directions), claim as a creditor of the Company or any such co-surety in competition with the Mortgagee.

The Mortgagor shall hold in trust for the Mortgagee and forthwith pay or transfer (as appropriate) to the Mortgagee any such payment (including an amount to any such set-off), distribution or benefit of such security, indemnity or claim in fact received by it.

5.5 Until the Secured Obligations have been unconditionally and irrevocably satisfied and discharged in full to the satisfaction of the Mortgagee, the Mortgagee may at any time keep in a separate account or accounts (without liability to pay interest thereon) in the name of the Mortgagee for as long as it may think fit, any moneys received, recovered or realised under this Mortgage or under any other guarantee, security or agreement relating in whole or in part to the Secured Obligations without being under any intermediate obligation to apply the same or any part thereof in or towards the discharge of the Secured Obligations; provided that the Mortgagee shall be obliged to apply amounts standing to the credit of such account or accounts once the aggregate amount held by the Mortgagee in any such account or accounts opened pursuant hereto is sufficient to satisfy the outstanding amount of the Secured Obligations in full.

5.6 The Mortgagor shall not, without the prior written consent of the Mortgagee:

(a) cause or permit any rights attaching to the Mortgaged Property to be varied or abrogated;

(b) cause or permit any of the Mortgaged Property to be consolidated, sub-divided or converted or the capital of the Company to be re-organised, exchanged or repaid; or

(c) cause or permit anything to be done which may depreciate, jeopardise or otherwise prejudice the enforceability of the security hereby given.

5.7 The Mortgagor hereby covenants that it will remain the legal and beneficial owner of the Mortgaged Property (subject to the Security hereby created) and that it will not:

(a) create or suffer the creation of any Security (other than those created by this Mortgage) or any other interest on or in respect of the whole or any part of the Mortgaged Property or any of its interest therein; or

(b) sell, assign, transfer or otherwise dispose of any of its interest in the Mortgaged Property without the prior consent in writing of the Mortgagee.

5.8 The Mortgagor shall remain liable to perform all the obligations assumed by it in relation to the Mortgaged Property and the Mortgagee shall be under no obligation of any kind whatsoever in respect thereof or be under any liability whatsoever in the event of any failure by the Mortgagor to perform its obligations in respect thereof.

5.9 The Mortgagor shall ensure that it shall not, without the prior written consent of the Mortgagee, use its voting rights to permit the Company to amend its memorandum or articles of association in a way which could be expected to adversely affect the interests of the Mortgagee.

5.10 The Mortgagor shall procure that the Company shall not, without the prior written consent of the Mortgagee:

(a) register any transfer of the Mortgaged Shares to any person (except to the Mortgagee or its nominees pursuant to the provisions of this Mortgage);

(b) issue any share certificate or replacement share certificates in respect of any of the Mortgaged Shares;

(d) do anything which might prejudice its status as an exempted company;

(e) issue, allot or grant warrants or options with respect to any Mortgaged Share;

(f) exercise any rights of forfeiture over any of the Mortgaged Shares; or

(g) purchase, redeem, otherwise acquire, cancel, sub-divide, amalgamate, reclassify or otherwise restructure any of the Mortgaged Property.

5.11 The Mortgagor shall procure that the Company shall:

(a) irrevocably consent to any transfer of the Mortgaged Shares by the Mortgagee or its nominee to any other person pursuant to the exercise of the Mortgagee’s rights under this Mortgage; and

(b) ensure that, upon issuance, the Mortgaged Shares remain recorded on the Register of Members maintained by American Stock Transfer & Trust Company, LLC in book-entry form, unless the prior written consent of the Mortgagee is received and any replacement transfer agent and registrar has acknowledged to the Mortgagee that it has assumed the obligations set forth in the Issuer Instruction Letter (as defined in the Facility Agreement) in a form reasonably satisfactory to the Mortgagee.

5.12 The Mortgagor shall not, without the prior written consent of the Mortgagee, participate in any vote concerning a members’ liquidation or compromise in respect of the Company pursuant to section 116 of the Companies Law.

6. ENFORCEMENT OF SECURITY

6.1 At any time after the occurrence of an Enforcement Event, the security hereby constituted shall become immediately enforceable and the rights of enforcement of the Mortgagee under this Mortgage shall be immediately exercisable upon and at any time thereafter and, without prejudice to the generality of the foregoing the Mortgagee without further notice to the Mortgagor may, whether acting on its own behalf or through a receiver or agent:

(a) solely and exclusively exercise all voting and/or consensual powers pertaining to the Mortgaged Property or any part thereof and may exercise such powers in such manner as the Mortgagee may think fit;

(b) date and present to the Company or any other person any undated documents provided to it pursuant to Clause 3 or any other provision of this Mortgage, including to remove the then existing directors and officers (with or without cause) by dating and presenting the undated, signed letters of resignation delivered pursuant to this Mortgage to appoint such persons as directors of the Company as it shall deem appropriate;

(c) receive and retain all dividends, interest or other moneys or assets accruing on or in respect of the Mortgaged Property or any part thereof, such dividends, interest or other moneys or assets to be held by the Mortgagee, as additional security mortgaged and charged under and subject to the terms of this Mortgage and any such dividends, interest and other moneys or assets received by the Mortgagor after such time shall be held in trust by the Mortgagor for the Mortgagee and paid or transferred to the Mortgagee on demand;

(d) subject to the Existing Transfer Restrictions, take possession of, get in, assign, exchange, sell, transfer, grant options over or otherwise dispose of the Mortgaged Property or any part thereof at such place and in such manner and at such price or prices as the Mortgagee may deem fit, and thereupon the Mortgagee shall have the right to deliver, assign and transfer in accordance therewith the Mortgaged Property so sold, transferred, granted options over or otherwise disposed of including by way of changing the ownership of the Mortgaged Shares as shown on the Register of Members;

(e) borrow or raise money either unsecured or on the security of the Mortgaged Property (either in priority to the Mortgage or otherwise);

(f) settle, adjust, refer to arbitration, compromise and arrange any claims, accounts, disputes, questions and demands with or by any person who is or claims to be a creditor of the Mortgagor or relating to the Mortgaged Property;

(g) bring, prosecute, enforce, defend and abandon actions, suits and proceedings in relation to the Mortgaged Property or any business of the Mortgagor;

(h) redeem any security (whether or not having priority to the Mortgage) over the Mortgaged Property and to settle the accounts of any person with an interest in the Mortgaged Property;

(i) exercise and do (or permit the Mortgagor or any nominee of the Mortgagor to exercise and do) all such rights and things as the Mortgagee would be capable of exercising or doing if it were the absolute beneficial owner of the Mortgaged Property;

(j) do anything else it may think fit for the realisation of the Mortgaged Property or incidental to the exercise of any of the rights conferred on the Mortgagee under or by virtue of any document to which the Mortgagor is party; and

(k) exercise all rights and remedies afforded to it under this Mortgage and applicable law,

6.2 The Mortgagee shall not be obliged to make any enquiry as to the nature or sufficiency of any payment received by it under this Mortgage or to make any claim or to take any action to collect any moneys assigned by this Mortgage or to enforce any rights or benefits assigned to the Mortgagee by this Mortgage or to which the Mortgagee may at any time be entitled hereunder.

6.3 Upon any sale of the Mortgaged Property or any part thereof by the Mortgagee, the purchaser shall not be bound to see or enquire whether the Mortgagee’s power of sale has become exercisable in the manner provided in this Mortgage and the sale shall be deemed to be within the power of the Mortgagee, and the receipt of the Mortgagee for the purchase money shall effectively discharge the purchaser who shall not be concerned with the manner of application of the proceeds of sale or be in any way answerable therefor.

6.4 Any money received or realised under the powers conferred by this Mortgage shall be paid or applied in the order as set out in clause 24.4 (Partial payments) of the Facility Agreement.

6.5 Until all Secured Obligations have been unconditionally and irrevocably paid and discharged in full, the Mortgagee may refrain from applying or enforcing any other moneys, security or rights held by it in respect of the Secured Obligations or may apply and enforce such moneys, security or rights in such manner and in such order as it shall decide in its unfettered discretion.

6.6 Neither the Mortgagee nor its agents, managers, officers, employees, delegates and advisers shall be liable for any claim, demand, liability, loss, damage, cost or expense incurred or arising in connection with the exercise or purported exercise of any rights, powers and discretions hereunder in the absence of dishonesty or wilful default.

6.7 The Mortgagee shall not by reason of the taking of possession of the whole or any part of the Mortgaged Property or any part thereof be liable to account as mortgagee-in-possession or for anything except actual receipts or be liable for any loss upon realisation or for any default or omission for which a mortgagee-in-possession might be liable.

7. APPOINTMENT OF A RECEIVER

7.1 At any time after the occurrence of an Enforcement Event, then notwithstanding the terms of any other agreement between the Mortgagor and any person, the Mortgagee may (unless precluded by law) appoint in writing any person or persons to be a receiver or receiver and manager of all or any part of the Mortgaged Property as the Mortgagee may choose in its entire discretion.

7.2 Where more than one receiver is appointed, the appointees shall have power to act jointly or separately unless the Mortgagee shall specify to the contrary.

7.3 The Mortgagee may from time to time determine the remuneration of a receiver.

7.4 The Mortgagee may remove a receiver from all or any of the Mortgaged Property of which he is the receiver and after the receiver has vacated office or ceased to act in respect of any of the Mortgaged Property, appoint a further receiver over all or any of the Mortgaged Property in respect of which he shall have ceased to act.

7.5 Such an appointment of a receiver shall not preclude:

(a) the Mortgagee from making any subsequent appointment of a receiver over all or any Mortgaged Property over which a receiver has not previously been appointed or has ceased to act; or

(b) the appointment of an additional receiver to act while the first receiver continues to act.

7.6 The receiver shall be the agent of the Mortgagor (which shall be solely liable for his acts, defaults and remuneration). The receiver shall not at any time become the agent of the Mortgagee.

8. POWERS OF A RECEIVER

8.1 In addition to those powers conferred by law, a receiver shall have and be entitled to exercise in relation to the Mortgagor all the powers set out below:

(a) to exercise all rights of the Mortgagee under or pursuant to this Mortgage including all voting and other rights attaching to the Mortgaged Property;

(b) to make any arrangement or compromise with others as he shall think fit;

(d) to redeem any prior encumbrance and settle and pass the accounts of the encumbrancer and any accounts so settled and passed shall (subject to any manifest error) be conclusive and binding on the Mortgagor and the money so paid shall be deemed an expense properly incurred by the receiver;

(e) to pay the proper administrative charges in respect of time spent by his agents and employees in dealing with matters raised by the receiver or relating to the receivership of the Mortgagor; and

(f) to do all such other acts and things as may be considered by the receiver to be incidental or conducive to any of the above matters or powers or otherwise incidental or conducive to the preservation, improvement or realisation of the Mortgaged Property or the value thereof.

9. FURTHER ASSURANCES

9.1 The Mortgagor shall at its own expense promptly do all such acts or execute all such documents (including assignments, transfers, mortgages, charges, notices and instructions) as the Mortgagee may specify and in such form as the Mortgagee may reasonably require in order to:

(a) perfect or protect the security created or intended to be created under or evidenced by this Mortgage (which may include the execution of a legal mortgage, charge, assignment or other security over all or any of the assets which are, or are intended to be, the subject of this Mortgage) or for the exercise of any rights, powers and remedies of the Mortgagee provided by or pursuant to this Mortgage, the Finance Documents or by law;

(b) confer on the Mortgagee security over any property and assets of the Mortgagor located in any jurisdiction which is (to the extent permitted by local law) equivalent or similar to the security intended to be conferred by or pursuant to this Mortgage; or

(c) following an Enforcement Event, facilitate the realisation of the assets which are, or are intended to be, the subject of this Mortgage.

9.2 Without limiting the other provisions of this Mortgage, the Mortgagor shall at its own expense take all such action as is available to it (including making all filings and registrations) as may be necessary for the purpose of the creation, perfection, protection or maintenance of any security conferred or intended to be conferred on the Mortgagee by or pursuant to this Mortgage.

10. INDEMNITIES

10.1 The Mortgagor will indemnify and save harmless the Mortgagee, any receiver and each agent or attorney appointed under or pursuant to this Mortgage from and against any and all expenses, claims, liabilities, losses, taxes, costs, duties, fees and charges suffered, incurred or made by the Mortgagee or such agent or attorney:

(a) in the exercise or purported exercise of any rights, powers or discretions vested in them pursuant to this Mortgage;

(b) in the preservation or enforcement of the Mortgagee’s rights under this Mortgage or the priority thereof;

(d) arising out of any breach by the Mortgagor of any term of this Mortgage,

and the Mortgagee or such receiver, agent or attorney may retain and pay all sums in respect of the same out of money received under the powers conferred by this Mortgage. All amounts suffered, incurred or paid by the Mortgagee or such receiver, agent or attorney or any of them shall be recoverable on a full indemnity basis provided that nothing in this Clause 10.1 shall require the Mortgagor to indemnify and save harmless the Mortgagee from and against any expenses, claims, liabilities, losses, taxes, costs, duties, fees and charges suffered, incurred or made by the Mortgagee as a result of the Mortgagee’s dishonesty or wilful default.

10.2 If, under any applicable law or regulation, and whether pursuant to a judgment being made or registered against the Mortgagor or the bankruptcy or liquidation of the Mortgagor or for any other reason any payment under or in connection with this Mortgage is made or fails to be satisfied in a currency (the “Payment Currency”) other than the currency in which such payment is due under or in connection with this Mortgage (the “Contractual Currency”), then to the extent that the amount of such payment actually received by the Mortgagee when converted into the Contractual Currency at the rate of exchange, falls short of the amount due under or in connection with this Mortgage, the Mortgagor, as a separate and independent obligation, shall indemnify and hold harmless the Mortgagee against the amount of such shortfall. For the purposes of this Clause 10.2, “rate of exchange” means the rate at which the Mortgagee is able on or about the date of such payment to purchase the Contractual Currency with the Payment Currency and shall take into account any premium and other costs of exchange with respect thereto.

10.3 All payments to be made to the Mortgagee under this Mortgage shall be made free and clear of and without deduction for or on account of tax unless the Mortgagor is required to make such payment subject to the deduction or withholding of tax, in which case the sum payable by the Mortgagor in respect of which such deduction or withholding is required to be made shall be increased to the extent necessary to ensure that, after the making of such deduction or withholding, the person on account of whose liability to tax such deduction or withholding has been made receives and retains (free from any liability in respect of any such deduction or withholding) a net sum equal to the sum which it would have received and so retained had no such deduction or withholding been made or required to be made.

11. POWER OF ATTORNEY

The Mortgagor, by way of security and in order more fully to secure the performance of its obligations hereunder, hereby irrevocably appoints the Mortgagee and the persons deriving title under it (including, but without any limitation, any receiver) jointly and also severally (with full power of substitution and delegation) to be its attorney-in-fact:

(a) to execute and complete in favour of the Mortgagee or its nominees or of any purchaser any documents which the Mortgagee may from time to time require for perfecting the Mortgagee’s title to, for vesting any of the assets and property hereby mortgaged or charged in the Mortgagee or its nominees or in any purchaser or for any of the purposes contemplated in Clause 6.1 hereof;

(b) to give effectual discharges for payments, to take and institute on non-payment (if the Mortgagee in its sole discretion so decides) all steps and proceedings in the name of the Mortgagor or of the Mortgagee for the recovery of such moneys, property and assets hereby mortgaged or charged;

(d) so as to enable the Mortgagee to carry out in the name of the Mortgagor any obligation imposed on the Mortgagor by this Mortgage (including the execution and delivery of any deeds, charges, assignments or other security and any transfers of

the Mortgaged Property and the exercise of all the Mortgagor’s rights and discretions in relation to the Mortgaged Property);

(e) so as to enable the Mortgagee and any receiver or other person to exercise, or delegate the exercise of, any of the rights, powers and authorities conferred on them by or pursuant to this Mortgage or by law (including the exercise of any right of a legal and beneficial owner of the Mortgaged Property); and

(f) generally for it and in its name and on its behalf and as its act and deed or otherwise execute, seal and deliver and otherwise perfect and do any such legal assignments and other assurances, charges, authorities and documents over the moneys, property and assets hereby charged, and all such deeds, instruments, acts and things which may be required for the full exercise of all or any of the powers conferred or which may be deemed proper on or in connection with any of the purposes aforesaid,

provided that, prior to an Enforcement Event, each such power shall only be exercisable by the Mortgagee to the extent that the Mortgagor is required to take such action pursuant to the terms of this Mortgage or any other Finance Document and does not take such action in accordance with the terms thereof (for the avoidance of doubt, following an Enforcement Event, each such power shall be exercisable by the Mortgagee in any case and is not conditional upon the Mortgagor having failed to take such action).

11.2 The power hereby conferred shall be a general power of attorney and the Mortgagor hereby ratifies and confirms and agrees to ratify and confirm any instrument, act or thing which any attorney appointed pursuant hereto may execute or do. In relation to the power referred to herein, the exercise by the Mortgagee of such power shall be conclusive evidence of its right to exercise the same.

12. RELEASE

12.1 Subject to Clause 12.2, upon discharge and satisfaction in full of the Secured Obligations, the Mortgagee shall (at the request and cost of the Mortgagor) execute such documents and do all such reasonable acts as may be necessary to release the Mortgaged Property from the security constituted by this Mortgage (including, without limitation, the prompt return of any Transfer of Ownership Forms or proxies). Such release shall not prejudice the rights of the Mortgagee under Clause 10.

12.2 If the Mortgagee considers in good faith that any amount received in payment or purported payment of the Secured Obligations is capable of being avoided or reduced by virtue of any insolvency or other similar laws:

(a) the liability of the Mortgagor under this Mortgage and the security constituted by this Mortgage shall continue and such amount shall not be considered to have been irrevocably paid; and

(b) the Mortgagee may keep any security held by it in respect of the Mortgagor’s liability under the Finance Documents in order to protect the Mortgagee against any possible claim under insolvency law. If a claim is made against the Mortgagee prior to the discharge of any such security, the Mortgagee may keep the security until that claim has finally been dealt with.

13. NOTICES

13.1 Any notice or other communication given or made under or in connection with the matters contemplated by this Mortgage shall be in accordance with the provisions of clause 26 (Notices) of the Facility Agreement.

14. ASSIGNMENTS

14.1 This Mortgage shall be binding upon and shall enure to the benefit of the Mortgagor, the Mortgagee and each of their respective successors and (subject as hereinafter provided) assigns and references in this Mortgage to any of them shall be construed accordingly.

14.2 The Mortgagor may not assign or transfer all or any part of its rights and/or obligations under this Mortgage.

14.3 The Mortgagee may assign or transfer all or any part of its rights or obligations under this Mortgage only in accordance with the terms of clause 22 (Changes to the parties) of the Facility Agreement.

15. SET-OFF

15.1 The Mortgagor authorises the Mortgagee (but the Mortgagee shall not be obliged to exercise such right), after the occurrence of an Enforcement Event, to set-off against the Secured Obligations any amount or other obligation (contingent or otherwise) owing by the Mortgagee to the Mortgagor.

16. SUBSEQUENT SECURITY

16.1 If the Mortgagee at any time receives or is deemed to have received notice of any subsequent Security affecting all or any part of the Mortgaged Property or any assignment or transfer of the Mortgaged Property which is prohibited by the terms of this Mortgage, all payments thereafter by or on behalf of the Mortgagor to the Mortgagee shall be treated as having been credited to a new account of the Mortgagor and not as having been applied in reduction of the Secured Obligations as at the time when the Mortgagee received such notice.

17. COSTS AND EXPENSES

17.1 The provisions of clause 16 (Costs and expenses) of the Facility Agreement shall apply to this Mortgage.

18. MISCELLANEOUS

18.1 The Mortgagee, at any time and from time to time, may delegate by power of attorney or in any other manner to any person or persons all or any of the powers, authorities and discretions which are for the time being exercisable by the Mortgagee under this Mortgage in relation to the Mortgaged Property or any part thereof. Any such delegation may be made upon such terms and be subject to such regulations as the Mortgagee may think fit. The Mortgagee shall not be in any way liable or responsible to the Mortgagor for any loss or damage arising from any act, default, omission or misconduct on the part of any such delegate provided the Mortgagee has acted reasonably in selecting such delegate.

18.2 If any of the clauses, conditions, covenants or restrictions (the “Provision”) of this Mortgage or any deed or document emanating from it shall be found to be void but would be valid if some part thereof were deleted or modified, then the Provision shall apply with such deletion or modification as may be necessary to make it valid and effective.

18.3 This Mortgage (together with any documents referred to herein) constitutes the whole agreement between the Parties relating to its subject matter and no variations hereof shall be effective unless made in writing and signed by each of the Parties.

18.4 Each document, instrument, statement, report, notice or other communication delivered in connection with this Mortgage shall be in English or where not in English shall be accompanied by a certified English translation which translation shall with respect to all documents of a contractual nature and all certificates and notices to be delivered hereunder be the governing version and upon which in all cases the Mortgagee shall be entitled to rely.

18.5 This Mortgage may be executed in counterparts each of which when executed and delivered shall constitute an original but all such counterparts together shall constitute one and the same instrument.

18.6 The Parties intend that this Mortgage takes effect as a deed notwithstanding the fact that the Mortgagee may only execute it under hand.

18.7 Unless expressly provided to the contrary in this Mortgage, a person who is not a party to this Mortgage shall not have any rights under the Contracts (Rights of Third Parties) Law, 2014 (the “CRTP Law”) to enforce or to enjoy the benefit of any term of this Mortgage.

18.8 Any receiver, agent, attorney or delegate will have the right to enforce the provisions of this Mortgage which are given in its favour.

18.9 Notwithstanding any term of this Mortgage, the consent of or notice to any receiver, agent, attorney, delegate or other person who is not a party to this Mortgage shall not be required for any termination, rescission or agreement to any variation, waiver, assignment, novation, release or settlement under this Mortgage at any time.

19. LAW AND JURISDICTION

19.1 This Mortgage shall be governed by and construed in accordance with the laws of the Cayman Islands and the Parties hereby irrevocably submit to the exclusive jurisdiction of the courts of the Cayman Islands, provided that nothing in this clause shall affect the right of the Mortgagee to serve process in any manner permitted by law or limit the right of the Mortgagee to take proceedings with respect to this Mortgage against the Mortgagor in any jurisdiction nor shall the taking of proceedings with respect to this Mortgage in any jurisdiction preclude the Mortgagee from taking proceedings with respect to this Mortgage in any other jurisdiction, whether concurrently or not.

19.2 The Mortgagor agrees that the process by which any proceedings in the Cayman Islands are begun may be served on it by being delivered to the process agent referred to below.

19.3 Without prejudice to any other mode of service allowed under any relevant law, the Mortgagor:

(a) irrevocably appoints the Company as its agent for service of process in relation to any proceedings before the Cayman Islands courts in connection with this Mortgage and confirms that such agent for service of process has duly accepted such appointment; and

(b) agrees that failure by the process agent to notify the Mortgagor of the process will not invalidate the proceedings concerned.

19.4 If the appointment of the person mentioned in Clause 19.3 ceases to be effective, the Mortgagor shall immediately appoint another person in the Cayman Islands to accept service of process on its behalf. If the Mortgagor fails to do so, the Mortgagee shall be entitled to appoint such a person by notice to the Mortgagor. Nothing contained herein shall restrict the right to serve process in any other manner allowed by law.

IN WITNESS whereof this Deed has been executed by the Parties on the day and year first above written.

The Mortgagor

EXECUTED AS A DEED for and on behalf of NEW	)
WAVE MMXV LIMITED:	)	/s/ Charles Chao
	)	Duly Authorised Signatory
	)
	)	Name;	Charles Chao
	)	Title:	Director
	)

in the presence of


/s/ Bonnie Zhang
Signature of Witness

Name:	Bonnie Zhang

Address: 20/F Beijing Ideal International Plaza, No. 58 North 4th Ring Road West

Haidian District, Beijing 100080, People’s Republic of China

The Mortgagee

EXECUTED AS A DEED for and on behalf of	)
CREDIT SUISSE AG HONG KONG BRANCH:	)	/s/ Davide Catalano
	)	Duly Authorised Signatory
	)
	)	Name;	Davide Catalano
	)	Title:	Director
	)

in the presence of


/s/ Charry Wong		/s/ Leo Chan
Signature of Witness

Name:	Charry Wong	Name:	Leo Chan	Title:	Vice President

Address: Level 88, International Commerce Centre, 1 Austin Road West, Hong Kong

SCHEDULE 2

SINA Corporation

IRREVOCABLE APPOINTMENT OF PROXY AND POWER OF ATTORNEY

We, NEW WAVE MMXV LIMITED, hereby irrevocably appoint CREDIT SUISSE AG HONG KONG BRANCH as our:

1. proxy to vote at meetings of the Shareholders of SINA Corporation (the “Company”) in respect 11,000,000 ordinary shares in the Company which have been or may from time to time be issued and/or registered in our name (the “Shares”); and

2. duly authorised representative and duly appointed attorney-in-fact to sign resolutions in writing of the Company in respect of any Shares.

This proxy and this power of attorney are irrevocable by reason of being coupled with the interest of CREDIT SUISSE AG HONG KONG BRANCH as mortgagee of the aforesaid Shares.

This proxy and power of attorney shall only be exercisable after the occurrence of an Enforcement Event as defined in the equitable share mortgage dated on or about the date of this Deed between us and CREDIT SUISSE AG HONG KONG BRANCH.

IN WITNESS whereof this Deed has been executed on 2015.

EXECUTED AS A DEED for and on behalf of NEW )

WAVE MMXV LIMITED:
	)	Duly Authorised Signatory

	)	Name:

	)	Title:

in the presence of:



Signature of Witness

Name:

Address: