Company: JWEL
Filing Date: 2025-05-09
Form Type: 20-F
Source: 0001213900-25-041556
Chunk: 59

Company: Jowell Global Ltd.
Filing Date: 2025-05-09
Form: 20-F
Item: Item 4
Chunk 59
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 to as the VIE Agreements. The VIE Agreements are comprised of
a series of agreements, including an Exclusive Business Cooperation and Management Agreement, an Equity Interest Pledge Agreement, an
Exclusive Option Agreement, Powers of Attorney and Spousal Consent Letters. Through the VIE Agreements, WFOE has the right to advise,
consult, manage and operate the VIE for an annual consulting service fee in an amount equal to all of the VIE’s net profit after
tax. The shareholders of the VIE have pledged all of their rights, title and equity interests in the VIE as security for WFOE to collect
consulting services fees provided to the VIE through the Equity Interest Pledge Agreement. In order to further reinforce WFOE’s
rights to control and operate the variable interest entity, the VIE’s shareholders have granted WFOE an exclusive right and option
to acquire all of their equity interests in the VIE through the Exclusive Option Agreement.

On October 31, 2019 and November 1, 2019, Shanghai
Jowell entered into a series of contractual arrangements with Shanghai Juhao Information Technology Co., Ltd. (“ Shanghai Juhao”)
and the shareholders of Shanghai Juhao, as amended on October 10, 2020. These agreements include: 1) an Exclusive Business Cooperation
and Management Agreement; 2) an Equity Interest Pledge Agreement; 3) an Exclusive Option Agreements 4) Powers of Attorney and 5) Spousal
Consent Letters. Pursuant to these agreements, Shanghai Jowell has the exclusive rights to provide consulting services to Shanghai Juhao
related to the business operation and management of Shanghai Juhao. For such services, Shanghai Juhao agrees to pay service fees determined
based on all of its net profit after tax payments to Shanghai Jowell or Shanghai Jowell has obligation to absorb all of Shanghai Juhao’s
losses. The agreements remain in effect until and unless all parties agree to its termination, except the Exclusive Option Agreement that
the effective term of 10 years and can be renewed for an additional 10 years. Until such termination, Shanghai Juhao may not enter into
another agreement for the provision of management consulting services without the prior consent of Shanghai Jowell. Also, pursuant to
the equity interest pledge agreement between the shareholders of Shanghai Juhao and Shanghai Jowell, such shareholders pledged all of
their equity interests in Shanghai Juhao to