Draft 12.01.2012 CMH/JJXC INVESTMENT LETTER To: Hedosophia Alpha Limited Roseneath, The Grange, St Peter Port, Guernsey We (the "Investor") agree to transfer to Hedosophia Alpha Limited (the "Company') the amount set out below for investment on the following terms: Investment amount: The investor will transfer to the Company US$(•] million in immediately available cleared funds on the date of signature of this document into the bank account of the Company which will be advised to the investor on signature. We anticipate the Company will enter into investment letters with up to [five] other investors ("Investors") over the next 30 days such that the Company will have funds for investment of between US$50 to 80 million. Investment proposition: The Company will seek to invest its funds in holding the equity securities of privately-held consumer intemet companies (-Investments") as determined by the board of the Company. It is intended that the funds will have been fully invested within six months. To the extent any funds have not been invested by 31 January 2013 (the "final investment date"), they will be repaid promptly to Investors in proportion to the amounts they transferred to the Company (-investment proportions"). No gambling or alcohol related investments may be made by the Company. Return on Investments: Until the full investment amount transferred to the Company by the Investor and other Investors has been repaid (pad passu as between all such Investors), all distributions and sales proceeds from Investments will be applied in repayment to paid to all Investors in their investment proportions promptly upon receipt by the Company in respect of each Investment. Thereafter, 70 per cent. of all distributions and sales proceeds from Investments will be paid to all Investors in their investment proportions promptly upon receipt by the Company in respect of each Investment, and the remaining 30 per cent. will be retained by the Company.