Company: KPEA
Filing Date: 2025-01-14
Form Type: 10-K
Source: 0001493152-25-002124
Chunk: 434

Company: Kun Peng International Ltd.
Filing Date: 2025-01-14
Form: 10-K
Item: Item 1
Chunk 434
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 to our Form 8-K dated May 17, 2021.

18

Equity
Disposal Agreement

Pursuant
to the terms of an Equity Disposal Agreement dated May 15, 2021 among King Eagle (China), King Eagle VIE, and the shareholders of King
Eagle VIE (the “Equity Disposal Agreement”), the shareholders of King Eagle VIE granted King Eagle (China) or its designees
an irrevocable and exclusive purchase option (the “Option”) to purchase all or part of King Eagle VIE’s and its subsidiaries’
equity interests and/or assets at the lowest purchase price permitted by PRC laws and regulations. The Option is exercisable at any time
at King Eagle (China)’s discretion in full or in part, to the extent permitted by PRC law. The shareholders of King Eagle VIE agreed
to give King Eagle (China) the total amount of the exercise price as a gift, or other method, upon King Eagle (China)’s written
consent to transfer the exercise price to King Eagle VIE. The Equity Disposal Agreement is valid for a term of 10 years or longer upon
the request of King Eagle (China).

The
foregoing summary of the Equity Disposal Agreement does not purport to be complete and is subject to, and qualified in its entirety by,
the Equity Disposal Agreement, which was filed as Exhibit 10.4 to our Form 8-K dated May 17, 2021.

Equity
Pledge Agreement

Pursuant
to the terms of an Equity Pledge Agreement dated May 15, 2021 among King Eagle (China) and the shareholders of King Eagle VIE (the “Pledge
Agreement”), the shareholders of King Eagle VIE pledged all of their equity interests in King Eagle VIE, including the proceeds
thereof, to King Eagle (China) to guarantee King Eagle VIE’s performance of its obligations under the Business Operation Agreement,
the Consulting Service Agreement and the Equity Disposal Agreement (each, an “Agreement,” and collectively, the “Agreements”).
If King Eagle VIE or its shareholders breach their respective contractual obligations under any Agreement or cause to occur one of the
events constituting an event of default under any Agreement, King Eagle (China), as pledgee, will be entitled to certain rights, including
the right to dispose of the pledged equity interest in King Eagle VIE. During the