Changyou disclosed the resignation agreement with Wang Tao in the documents submitted to the SEC. According to the agreement, Changyou paid Wangzao a total of RMB7.38 million (approximately USD1.8182 million) in one payment and agreed to enter into a non-competition agreement with Changyou during its tenure of employment. The non-disclosure agreement and others have been terminated on December 31, 2014.
As of 31 December 2014, Wang Tao held 14,040,000 ordinary shares of Changyou with a shareholding ratio of 13.3%. Taking advantage of this morning's closing price of US $ 27.85 per ADS, 14,010,000 ordinary shares held by Wang Tao (7,020,000 ADSs) worth nearly 200 million U.S. dollars.
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