Exhibit 4.1


 


 


 





 



 


CONFIDENTIAL


 


February 23, 2021


 


VIA ELECTRONIC DELIVERY


 


Raymond Ming Hui Lin


Chief Executive Officer


CLPS Incorporation


c/o Unit 702, 7th Floor, Millennium City II


378 Kwun Tong Road,
Kwun Tong, Kowloon


Hong Kong SAR


 


Dear Mr. Lin:


 


This letter (the “Agreement”)
constitutes the agreement between Maxim Group LLC (“Maxim”) the “Lead Manager”) and CLPS
Incorporation (the “Company”), that Maxim shall serve as (i) sole lead/exclusive placement agent for the Company,
on a “reasonable best efforts” basis (“Direct Placement”) or (ii) sole lead book running manager
for the Company, on a firm commitment basis (“Underwritten Placement”) and collectively with a Direct Placement
(a “Placement”), in connection with the proposed offering of registered securities (the “Securities”)
of the Company, including shares (the “Shares”) of the Company’s common stock (the “Common Stock”).
The terms of such Placement and the Securities shall be mutually agreed upon by the Company, the Lead Manager and, if a Direct
Placement, the purchasers (each, a “Purchaser” and collectively, the “Purchasers”) and nothing
herein constitutes that the Lead Manager would have the power or authority to bind the Company or any Purchaser or an obligation
for the Company to issue any Securities or complete the Placement. This Agreement and the documents executed and delivered by the
Company and the Purchasers in connection with the Placement shall be collectively referred to herein as the “Transaction
Documents.” The date of the closing of the Placement of common shares for at least $10,000,000 shall be referred to herein
as the “Closing Date.” The Company expressly acknowledges and agrees that the Lead Manager’s obligations
hereunder are on a reasonable best efforts basis only and that the execution of this Agreement does not constitute a commitment
by Maxim to purchase the Securities and does not ensure the successful placement of the Securities or any portion thereof or the
success of Maxim with respect to securing any other financing on behalf of the Company. It is further understood and agreed that
during the Engagement Period, the Company and Maxim may mutually determine that instead of proceeding with the proposed offering,
the Company may alternatively proceed with a different offering of its equity, convertible or debt securities (“Alternative
Transaction”). In such an event, Maxim’s exclusivity enumerated in the Agreement shall still apply.


 


In the event that a Placement is an Underwritten
Placement, prior to the commencement of the Underwritten Placement, the Company shall negotiate the terms of an underwriting agreement
(the “Underwriting Agreement”) with the Lead Manager containing such terms, covenants, conditions, representations,
warranties, and providing for the delivery of legal opinions, comfort letters and officers’ certificates, all in form and
substance satisfactory to the Lead Manager and its counsel and the Company.


 


In the event that a Placement is a Direct Placement, the sale of Securities to any Purchaser will be evidenced
by a purchase agreement (“Purchase Agreement”) between the Company and such Purchaser, if required by the Purchaser, in a form
reasonably satisfactory to the Company and the Lead Manager. Prior to the signing of any Purchase Agreement, officers of the Company
with responsibility for financial affairs will be available to answer inquiries from prospective Purchasers.


 




     


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In furtherance of the Company’s agreement
that Maxim’s retention hereunder shall be exclusive, during the term of this Agreement, neither the Company nor any of its
officers, directors, employees, (“Representatives”) will, directly or indirectly, solicit or otherwise encourage
the submission of any proposal or offer (“Investment Proposal”) from any person or entity relating to any issuance
of the Company’s equity or equity-linked securities (including warrants and debt securities with any equity feature) or participate
in any discussions regarding an Investment Proposal. The term “Investment Proposal” shall not include (i) any investment
in the equity securities of any other entity, and (ii) any transaction or agreement with one or more persons, firms or entities
designated as a “strategic partner” of the Company, as determined in good faith by the Board of Directors of the Company,
provided that each such person, firm or entity is, itself or through its subsidiaries, an operating company in a business synergistic
with the business of the Company and in which the Company receives benefits in addition to the investment of funds, but shall not
include a transaction in which the Company is issuing securities primarily for the purpose of raising capital or to one or more
persons or entities whose primary business is investing in securities. The Company will immediately cease all contacts, discussions
and negotiations with third parties regarding any Investment Proposal and, during the term, will promptly inform Maxim of any unsolicited
Investment Proposals received by the Company or its Representatives.


 


Notwithstanding anything herein to the
contrary, in the event that the Lead Manager determines that any of the terms provided for hereunder shall not comply with a FINRA
rule, including but not limited to FINRA Rule 5110, then the Company shall agree to amend this Agreement in writing upon the request
of the Lead Manager to comply with any such rules; provided that any such amendments shall not provide for terms that are less
favorable to the Company.


 


SECTION 1. Compensation and Other Fees.


 


As compensation for the services provided
by the Lead Manager hereunder, the Company agrees to pay to the Lead Manager:


 


(A) The fees set forth below with respect to the Placement:


 


A cash fee payable immediately upon the
closing of the Placement equal to seven percent (7.0%) of the aggregate gross proceeds raised in the Placement including any over-allotment
subscription (the “Cash Fee”). The Lead Manager’s Fees shall be paid at the closing of the Placement (the
“Closing”).


 


(B) Subject to compliance with FINRA Rule
5110(f)(2)(D), the Company agrees to reimburse Maxim (a) $5,000 for non-accountable expenses; (b) up to $40,000 for the reasonable
and accounted fees and expenses of legal counsel.


 







     


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SECTION 2. REGISTRATION STATEMENT.


 


(A) The Company represents and
warrants to, and agrees with, Maxim that: (A) the Company has filed with the Securities and Exchange Commission (the
“Commission”) a registration statement on Form F-3 under the Securities Act of 1933, as amended (the
“Securities Act”), for the registration under the Securities Act of the Securities. At the time of such
filing, the Company met the requirements of Form F-3 under the Securities Act. Such
registration statement meets the requirements set forth in Rule 415(a)(1)(x) under the Securities Act and complies with said Rule.
The Company will file with the Commission pursuant to Rule 424(b) under the Securities Act, and the rules and regulations (the
“Rules and Regulations”) of the Commission promulgated thereunder, a supplement to the form of prospectus included
in such registration statement relating to the placement of the Securities and the plan of distribution thereof and has advised
Maxim of all further information (financial and other) with respect to the Company required to be set forth therein. Such registration
statement, including the exhibits thereto, as amended at the date of this Agreement, is hereinafter called the “Registration
Statement”; such prospectus in the form in which it appears in the Registration Statement is hereinafter called the “Base
Prospectus”; and the supplemented form of prospectus, in the form in which it will be filed with the Commission pursuant
to Rule 424(b) (including the Base Prospectus as so supplemented) is hereinafter called the “Prospectus Supplement.”
Any reference in this Agreement to the Registration Statement, the Base Prospectus or the Prospectus Supplement shall be deemed
to refer to and include the documents incorporated by reference therein (the “Incorporated Documents”) pursuant to
Item 16 of Form F-3 which were filed under the Securities Exchange Act of 1934, as amended (the “Exchange Act”),
on or before the date of this Agreement, or the issue date of the Base Prospectus or the Prospectus Supplement, as the case may
be; and any reference in this Agreement to the terms “amend,” “amendment” or “supplement” with
respect to the Registration Statement, the Base Prospectus or the Prospectus Supplement shall be deemed to refer to and include
the filing of any document under the Exchange Act after the date of this Agreement, or the issue date of the Base Prospectus or
the Prospectus Supplement, as the case may be, deemed to be incorporated therein by reference. All references in this Agreement
to financial statements and schedules and other information which is “contained,” “included,” “described,”
“referenced,” “set forth” or “stated” in the Registration Statement, the Base Prospectus or
the Prospectus Supplement (and all other references of like import) shall be deemed to mean and include all such financial statements
and schedules and other information which is or is deemed to be incorporated by reference in the Registration Statement, the Base
Prospectus or the Prospectus Supplement, as the case may be. No stop order suspending the effectiveness of the Registration Statement
or the use of the Base Prospectus or the Prospectus Supplement has been issued, and no proceeding for any such purpose is pending
or has been initiated or, to the Company’s knowledge, is threatened by the Commission. For purposes of this Agreement, “free
writing prospectus” has the meaning set forth in Rule 405 under the Securities Act and the “Time of Sale Prospectus”
means the preliminary prospectus, if any, together with the free writing prospectuses, if any, used in connection with the Placement,
including any documents incorporated by reference therein.


 


(B) The Registration Statement (and
any further documents to be filed with the Commission) will contain all exhibits and schedules as required by the Securities
Act. Each of the Registration Statement and any post-effective amendment thereto, at the time it becomes effective, complied
in all material respects with the Securities Act and the Exchange Act and the applicable Rules and Regulations and did not
and, as amended or supplemented, if applicable, will not, contain any untrue statement of a material fact or omit to state a
material fact required to be stated therein or necessary to make the statements therein not misleading. The Base Prospectus,
the Time of Sale Prospectus, if any, and the Prospectus Supplement, each as of its respective date, will comply in all
material respects with the Securities Act and the Exchange Act and the applicable Rules and Regulations. Each of the Base
Prospectus, the Time of Sale Prospectus, if any, and the Prospectus Supplement, as amended or supplemented, will not contain
as of the date thereof any untrue statement of a material fact or omit to state a material fact necessary in order to make
the statements therein, in light of the circumstances under which they were made, not misleading. The Incorporated Documents,
when they were filed with the Commission, conformed in all material respects to the requirements of the Exchange Act and the
applicable Rules and Regulations, and none of such documents, when they were filed with the Commission, contained any untrue
statement of a material fact or omitted to state a material fact necessary to make the statements therein
(with respect to Incorporated Documents incorporated by reference in the Base Prospectus or Prospectus Supplement), in light of
the circumstances under which they were made not misleading; and any further documents so filed and incorporated by reference in
the Base Prospectus, the Time of Sale Prospectus, if any, or Prospectus Supplement, when such documents are filed with the Commission,
will conform in all material respects to the requirements of the Exchange Act and the applicable Rules and Regulations, as applicable,
and will not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements
therein, in light of the circumstances under which they were made, not misleading. No post-effective amendment to the Registration
Statement reflecting any facts or events arising after the date thereof which represent, individually or in the aggregate, a fundamental
change in the information set forth therein is required to be filed with the Commission. There are no documents required to be
filed with the Commission in connection with the transaction contemplated hereby that (x) have not been filed as required pursuant
to the Securities Act or (y) will not be filed within the requisite time period. There are no contracts or other documents required
to be described in the Base Prospectus, the Time of Sale Prospectus, if any, or Prospectus Supplement, or to be filed as exhibits
or schedules to the Registration Statement, which have not been described or filed as required.


 




     


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(C) The Company is eligible to use free
writing prospectuses in connection with the Placement pursuant to Rules 164 and 433 under the Securities Act. Any free writing
prospectus that the Company is required to file pursuant to Rule 433(d) under the Securities Act has been, or will be, filed with
the Commission in accordance with the requirements of the Securities Act and the applicable rules and regulations of the Commission
thereunder. Each free writing prospectus that the Company has filed, or is required to file, pursuant to Rule 433(d) under the
Securities Act or that was prepared by or behalf of or used by the Company complies or will comply in all material respects with
the requirements of the Securities Act and the applicable rules and regulations of the Commission thereunder.


 


(D) The Company has delivered, or will
as promptly as practicable deliver, to the Lead Manager complete conformed copies of the Registration Statement and of each consent
and certificate of experts, as applicable, filed as a part thereof, and conformed copies of the Registration Statement (without
exhibits), the Base Prospectus, the Time of Sale Prospectus, if any, and the Prospectus Supplement, as amended or supplemented,
in such quantities and at such places as the Lead Manager reasonably requests. Neither the Company nor any of its directors and
officers has distributed and none of them will distribute, prior to the Closing Date, any offering material in connection with
the offering and sale of the Securities other than the Base Prospectus, the Time of Sale Prospectus, if any, the Prospectus Supplement,
the Registration Statement, copies of the documents incorporated by reference therein and any other materials permitted by the
Securities Act.


 


(E) Without limiting the generality of
the foregoing, the Underwriting Agreement shall contain customary representations and warranties of the Company and shall further
provide that: (i) the Company, the Company’s management, directors and officers of 5.0% or more of the outstanding Securities
as of the effective date of the Registration Statement (and all holders of securities exercisable for or convertible into Securities)
shall enter into customary “lock-up” agreements in favor of Maxim pursuant to which such persons and entities shall
agree, for a period of sixty (60) days after the Placement is completed, that they shall neither offer, issue, sell, contract to
sell, encumber, grant any option for the sale of or otherwise dispose of any securities of the Company without Maxim’s prior
written consent.


 






     


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SECTION 3. REPRESENTATIONS AND WARRANTIES. The Company makes to the
Lead Manager all of the representations and warranties which the Company makes to the Purchasers in the Securities Purchase Agreement.
and in addition makes the following two representations:





 


(a) Approvals. As of the date of
this Agreement and provided the Shares do not exceed 20.0% of the outstanding shares on the Closing Date, except for the filings
with the Nasdaq or other US applicable national exchange for the listing of the Shares for trading thereon in the time and manner
required thereby, the issuance and listing on the Nasdaq or other US applicable national exchange of the Shares requires no further
approvals, including but not limited to, the approval of shareholders.


 


(b) FINRA Affiliations. There are
no affiliations with any FINRA member firm among the Company’s officers, directors or, to the knowledge of the Company, any
five percent (5.0%) or greater stockholder of the Company, except as set forth in the Base Prospectus.


 


SECTION 4. INDEMNIFICATION. The
Company agrees to the indemnification and other agreements set forth in the Indemnification Provisions (the “Indemnification”)
attached hereto as Addendum A, the provisions of which are incorporated herein by reference and shall survive the termination or
expiration of this Agreement.


 


SECTION 5. ENGAGEMENT TERM. The
Lead Manager’s engagement hereunder shall become effective on the date hereof and shall continue until the earlier of (i)
the final Closing Date of the Placement, (ii) April 1, 2021 (such date, the “Termination Date”). If the Company
elects to terminate for any reason even though the Lead Manager was prepared to proceed with the Placement, and, if within twelve
(12) months following such termination, the Company completes any financing of equity, equity-linked or debt or other capital
raising activity of the Company (other than the exercise by any person or entity of any options, warrants or other convertible
securities) with any of the investors introduced by the Lead Manager to the Company during the term of this Agreement, then the
Company will pay to the Lead Manager upon the closing of such financing the compensation set forth in Section 1 herein. If the
Company reasonably anticipates that the Lead Manager may become entitled to payment as set forth in the preceding sentence, the
Company shall use its best efforts to notify the Lead Manager promptly of such possible payment. Notwithstanding anything to the
contrary contained herein, the provisions concerning confidentiality, indemnification, contribution and the Company’s obligations
to pay fees and reimburse expenses contained herein and the Company’s obligations contained in the Indemnification Provisions
will survive any expiration or termination of this Agreement, irrespective of whether a closing occurs. All such fees and reimbursements
due shall be paid to the Lead Manager on or before the Termination Date (in the event such fees and reimbursements are earned or
owed as of the Termination Date) or upon the closing of the Placement or any applicable portion thereof (in the event such fees
are due pursuant to the terms of Section 1 hereof). Maxim agrees not to use any confidential information concerning the Company
provided to them by the Company for any purposes other than those contemplated under this Agreement.


 


SECTION 6. FUTURE RIGHTS. Upon
the Closing of a Placement, for a period of six (6) months from the last closing of a Placement (the “Tail Period”),
if the Company decides to enter into a Placement using an underwriter or placement agent in the U.S., the Company grants Maxim
the right of first refusal to act as lead managing underwriter and lead left book runner or minimally as a co-lead manager and
co-lead left book runner and/or co-lead left placement agent with at least 50.0% of the economics for any and all future equity,
equity-linked or debt (excluding commercial bank debt) offerings (each, a “Subsequent Offering”) undertaken during
the Tail Period by the Company or any subsidiary of the Company. The Company shall provide Maxim with written notice of its election
to engage in a Subsequent Offering, which notice shall describe the proposed terms and conditions of such Subsequent Offering.
Maxim shall notify the Company within ten (10) days of its receipt of the written offer contemplated above as to whether or not
it agrees to accept such retention. If Maxim should decline such retention, the Company shall have no further obligation to Maxim
with respect to such other Subsequent Offering, except as otherwise provided for herein. Maxim acknowledges that if the Company
issues convertible notes to Company management without the use of an
agent or underwriter, such transaction shall not be deemed a Subsequent Offering.


 




     


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SECTION 7. LEAD MANAGER INFORMATION.
The Company agrees that any information or advice rendered by the Lead Manager in connection with this engagement is for the confidential
use of the Company only in their evaluation of the Placement and, except as otherwise required by law, the Company will not disclose
or otherwise refer to the advice or information in any manner without such Lead Manager’s prior written consent.


 


SECTION 8. NO FIDUCIARY RELATIONSHIP.
This Agreement does not create, and shall not be construed as creating rights enforceable by any person or entity not a party hereto,
except those entitled hereto by virtue of the Indemnification Provisions hereof. The Company acknowledges and agrees that Maxim
is and shall not be construed to be a fiduciary of the Company and Maxim shall have no duties or liabilities to the equity holders
or the creditors of the Company or any other person by virtue of this Agreement or the retention of the Lead Manager hereunder,
all of which are hereby expressly waived.


 


SECTION 9. CLOSING. The obligations
of the Lead Manager and the closing of the sale of the Securities hereunder are subject to the accuracy, when made and on the Closing
Date, of the representations and warranties on the part of the Company and its Subsidiaries contained herein, to the accuracy of
the statements of the Company and its Subsidiaries made in any certificates pursuant to the provisions hereof, to the performance
by the Company and its Subsidiaries of their obligations hereunder, and to each of the following additional terms and conditions:


 


(A) No stop order suspending the effectiveness
of the Registration Statement shall have been issued and no proceedings for that purpose shall have been initiated or threatened
by the Commission, and any request for additional information on the part of the Commission (to be included in the Registration
Statement, the Base Prospectus or the Prospectus Supplement or otherwise) shall have been complied with to the reasonable satisfaction
of each Lead Manager. Any filings required to be made by the Company in shall have been timely filed with the Commission.


 


(B) The Lead Manager shall not have discovered
and disclosed to the Company on or prior to the Closing Date that the Registration Statement, the Base Prospectus or the Prospectus
Supplement or any amendment or supplement thereto contains an untrue statement of a fact which, in the opinion of counsel for the
Lead Manager, is material or omits to state any fact which, in the opinion of such counsel, is material and is required to be stated
therein or is necessary to make the statements therein not misleading.


 


(C) All corporate proceedings and other
legal matters incident to the authorization, form, execution, delivery and validity of each of this Agreement, the Securities,
the Registration Statement, the Base Prospectus and the Prospectus Supplement and all other legal matters relating to this Agreement
and the transactions contemplated hereby shall be reasonably satisfactory in all material respects to counsel for the Placement
Agent, and the Company shall have furnished to such counsel all documents and information that they may reasonably request to enable
them to pass upon such matters.


 


(D) The Lead Manager shall have received from outside counsel to the Company such counsel’s written opinion,
addressed to the Lead Manager and the Purchasers dated as of the Closing Date, in form and substance reasonably satisfactory to
the Lead Manager, substantially identical to that provided to the Purchasers.


 




     


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(E) Neither the Company (i) shall have
sustained since the date of the latest audited financial statements included or incorporated by reference in the Base Prospectus,
any loss or interference with its business from fire, explosion, flood, terrorist act or other calamity, whether or not covered
by insurance, or from any labor dispute or court or governmental action, order or decree, otherwise than as set forth in or
contemplated by the Base Prospectus and (ii) since such date there shall not have been any change in any development involving
a prospective change, in or affecting the business, general affairs, management, financial position, stockholders’ equity,
results of operations or prospects of the Company, otherwise than as set forth in or contemplated by the Base Prospectus, the effect
of which, in any such case described in clause (i) or (ii), is, in the light of a reasonable judgement so material and adverse
as to make it impracticable or inadvisable to proceed with the sale or delivery of the Securities on the terms and in the manner
contemplated by the Base Prospectus, the Time of Sale Prospectus, if any, and the Prospectus Supplement.


 


(F) The Common Stock is registered
under the Exchange Act and, as of the Closing Date, the Shares shall be listed and admitted and authorized for trading on the Nasdaq
or other applicable US national exchange and satisfactory evidence of such action shall have been provided to the Lead Manager.
The Company shall have taken no action designed to, or likely to have the effect of terminating the registration of the Common
Stock under the Exchange Act or delisting or suspending from trading the Common Stock from the Nasdaq or other applicable US national
exchange, nor has the Company received any information suggesting that the Commission or the Nasdaq or other US applicable national
exchange is contemplating terminating such registration or listing.


 


(G) to action shall have been taken and
no statute, rule, regulation or order shall have been enacted, adopted or issued by any governmental agency or body which would,
as of the Closing Date, prevent the issuance or sale of the Securities or materially and adversely affect or potentially and adversely
affect the business or operations of the Company; and no injunction, restraining order or order of any other nature by any federal
or state court of competent jurisdiction shall have been issued as of the Closing Date which would prevent the issuance or sale
of the Securities or materially and adversely affect or potentially and adversely affect the business or operations of the Company.


 


(H) The Company shall have prepared and
filed with the Commission a Current Report on Form 6-K with respect to the Placement, including as an exhibit thereto this
Agreement.


 


(1) The Company shall have entered into
subscription agreements with each of the Purchasers and such agreements shall be in full force and effect and shall contain representations
and warranties of the Company as agreed between the Company and the Purchasers.


 


(J) FINRA shall have raised no objection
to the fairness and reasonableness of the terms and arrangements of this Agreement. In addition, the Company shall, if requested
by the Lead Manager, make or authorize Lead Manager’s counsel to make on the Company’s behalf, an Issuer Filing with
the FINRA Corporate Financing Department pursuant to FINRA Rule 2710 with respect to the Registration Statement and pay all filing
fees required in connection therewith.


 


(K) Prior to the Closing Date, the Company
shall have furnished to the Lead Manager such further information, certificates and documents as the Lead Manager may reasonably
request.


 


All opinions, letters, evidence and certificates
mentioned above or elsewhere in this Agreement shall be deemed to be in compliance with the provisions hereof only if they are
in form and substance reasonably satisfactory to counsel for the Lead Manager.


 




     


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SECTION 10. GOVERNING LAW. This
Agreement will be governed by, and construed in accordance with, the laws of the State of New York applicable to agreements made
and to be performed entirely in such State. This Agreement may not be assigned by either party without the prior written consent
of the other party. This Agreement shall be binding upon and inure to the benefit of the parties hereto, and their respective successors
and permitted assigns. Any right to trial by jury with respect to any dispute arising under this Agreement or any transaction or
conduct in connection herewith is waived. Any dispute arising under this Agreement may be brought into the courts of the State
of New York or into the Federal Court located in New York, New York and, by execution and delivery of this Agreement, the Company
hereby accepts for itself and in respect of its property, generally and unconditionally, the jurisdiction of aforesaid courts.
Each party hereto hereby irrevocably waives personal service of process and consents to process being served in any such suit,
action or proceeding by delivering a copy thereof via overnight delivery (with evidence of delivery) to such party at the address
in effect for notices to it under this Agreement and agrees that such service shall constitute good and sufficient service of process
and notice thereof. Nothing contained herein shall be deemed to limit in any way any right to serve process in any manner permitted
by law. If either party shall commence an action or proceeding to enforce any provisions of a Transaction Document, then the prevailing
party in such action or proceeding shall be reimbursed by the other party for its attorney’s fees and other costs and expenses
incurred with the investigation, preparation and prosecution of such action or proceeding.


 


SECTION 11. ENTIRE AGREEMENT/MISC.
This Agreement (including the attached Indemnification Provisions) embodies the entire agreement and understanding between the
parties hereto and supersedes all prior agreements and understandings relating to the subject matter hereof. If any provision of
this Agreement is determined to be invalid or unenforceable in any respect, such determination will not affect such provision in
any other respect or any other provision of this Agreement, which will remain in full force and effect. This Agreement may not
be amended or otherwise modified or waived except by an instrument in writing signed by both the Lead Manager and the Company.
The representations, warranties, agreements and covenants contained herein shall survive the closing of the Placement and delivery
and/or exercise of the Securities, as applicable. This Agreement may be executed in two or more counterparts, all of which when
taken together shall be considered one and the same agreement and shall become effective when counterparts have been signed by
each party and delivered to the other party, it being understood that both parties need not sign the same counterpart. In the event
that any signature is delivered by facsimile transmission or a “.pdf’ format file, such signature shall create a valid
and binding obligation of the party executing (or on whose behalf such signature is executed) with the same force and effect as
if such facsimile signature page were an original thereof.


 


SECTION 12. CONTINGENT REQUIREMENTS. The Placement shall
be conditioned upon, among other things, the following:


 


(i) Satisfactory completion by the Lead
Manager of its due diligence investigation and analysis of: (a) the Company’s arrangements with its officers, directors,
employees, affiliates, customers and suppliers, (b) the audited historical financial statements of the Company.


 


(ii) The Company retaining a firm nationally recognized in the U.S. of independent PCAOB registered public accountants
acceptable to the Lead Manager, which will have responsibility for the preparation of the financial statements and the financial
exhibits, if any, to be included in the Transaction Documents, and will continue to engage accountants of comparable quality (as
may be determined by the Company’s Board of Directors or audit committee) for a period of at least three (3) years after
the initial Closing Date;


 




     


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(iii) The Company retaining a transfer
agent for the Company’s common equity reasonably acceptable to the Lead Manager and continuing to retain a competent transfer
agent for a period of three (3) years after the initial Closing Date; and


 


(iv) Upon the execution of the engagement
letter, the Company at its own expense will conduct background checks, by a background search firm mutually acceptable to the Company
and the Placement Agent, for the Company’s senior management.


 


SECTION 13. NOTICES Any and all
notices or other communications or deliveries required or permitted to be provided hereunder shall be in writing and shall be
deemed given and effective on the earliest of (a) the date of transmission, if such notice or communication is delivered via facsimile
at the facsimile number specified on the signature pages attached hereto prior to 6:30 p.m. (New York City time) on a business
day, (b) the next business day after the date of transmission, if such notice or communication is delivered via facsimile at the
facsimile number on the signature pages attached hereto on a day that is not a business day or later than 6:30 p.m. (New York
City time) on any business day, (c) the business day following the date of mailing, if sent by U.S. nationally recognized overnight
courier service, or (d) upon actual receipt by the party to whom such notice is required to be given. The address for such notices
and communications shall be as set forth on the signature pages hereto.


  


[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]


 


[SIGNATURE PAGE
AND ADDENDUM A FOLLOWS]


 




     


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We look forward to working with the Company. Please confirm
that the foregoing correctly sets forth our agreement by signing and returning the enclosed copy of this Agreement.


 


	 	Very truly yours, 
	 	 
	 	MAXIM GROUP LLC
	 	 
	 	By:	/s/
    Alex Jin                       
	 	 	Alex Jin
	 	 	Managing Director, Investment Banking
	 	 
	 	 
	 	By:	/s/ Clifford A. Teller
	 	 	Clifford A. Teller
	 	 	Executive Managing Director
	 	 	Head of Investment Banking
	 	 
	 	Address for notice:
	 	405 Lexington Avenue 
	 	2nd Floor
	 	New York, NY 10174


 


	Accepted and Agreed to as of 

the date first written above:	 
	 	 
	CLPS INCORPORATION	 
	 	 
	By:	/s/
    Raymond Ming Hui Lin                       	 
	 	Raymond Ming Hui Lin	 
	 	Chief Executive Officer	 
	 	 
	Address for notice:	 
	c/o Unit 702, 7th Floor, Millennium City II 	 
	378 Kwun Tong Road, Kwun Tong, Kowloon 	 
	Hong Kong SAR	 


 


[SIGNATURE PAGE TO THE AGREEMENT]


 


[ADDENDUM A FOLLOWS]


 




     


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ADDENDUM
A


 


INDEMNIFICATION PROVISIONS


 


In connection with the engagement of Maxim
by the Company pursuant to a placement agreement dated herein on page 1 of this Agreement, between the Company and Maxim as it
may be amended from time to time in writing (the “Agreement”), the Company hereby agrees as follows:


 


		1.	To the extent permitted by law, the Company will indemnify
Maxim and each of its affiliates, stockholders, directors, officers, employees and controlling persons (within the meaning of
Section 15 of the Securities Act of 1933, as amended, or Section 20 of the Securities Exchange Act of 1934) against all losses,
claims, damages, expenses and liabilities, as the same are incurred (including the reasonable fees and expenses of counsel), relating
to or arising out of its activities hereunder or pursuant to the Agreement, except, with regard to the Lead Manager, to the extent
that any losses, claims, damages, expenses or liabilities (or actions in respect thereof) are found in a final judgment (not subject
to appeal) by a court of law to have resulted primarily and directly from such Lead Manager’s willful misconduct or gross
negligence in performing the services described herein, as the case may be.



 


		2.	Promptly after receipt by the Lead Manager of notice
of any claim or the commencement of any action or proceeding with respect to which such Lead Manager is entitled to indemnity
hereunder, such Lead Manager will notify the Company in writing of such claim or of the commencement of such action or proceeding,
and the Company will assume the defense of such action or proceeding and will employ counsel reasonably satisfactory to such Lead
Manager and will pay the fees and expenses of such counsel. Notwithstanding the preceding sentence, such Lead Manager will be
entitled to employ counsel separate from counsel for the Company and from any other party in such action if counsel for such Lead
Manager reasonably determines that it would be inappropriate under the applicable rules of professional responsibility for the
same counsel to represent both the Company and such Lead Manager. In such event, the reasonable fees and disbursements of no more
than one such separate counsel will be paid by the Company. The Company will have the exclusive right to settle the claim or proceeding
provided that the Company will not settle any such claim, action or proceeding without the prior written consent of the Lead Manager,
which will not be unreasonably withheld.



 


		3.	The Company agrees to notify the Lead Manager promptly
of the assertion against it or any other person of any claim or the commencement of any action or proceeding relating to a transaction
contemplated by the Agreement.



 


		4.	If for any reason
                                         the foregoing indemnity is unavailable to Maxim or insufficient to hold Maxim harmless,
                                         then the Company shall contribute to the amount paid or payable by Maxim as a result
                                         of such losses, claims, damages or liabilities in such proportion as is appropriate to
                                         reflect not only the relative benefits received by the Company on the one hand and Maxim
                                         on the other, but also the relative fault of the Company on the one hand and Maxim on
                                         the other, separately and not jointly, that resulted in such losses, claims, damages
                                         or liabilities, as well as any relevant equitable considerations. The amounts paid or
                                         payable by a party in respect of losses, claims, damages and liabilities referred to
                                         above shall be deemed to include any legal or other fees and expenses incurred in defending
                                         any litigation, proceeding or other action or claim. Notwithstanding the provisions hereof,
                                         the Lead Manager’s share of the liability hereunder shall not be in excess of the
                                         amount of fees actually received, or to be received, by such Lead Manager under the Agreement
                                         (excluding any amounts received as reimbursement of expenses incurred by Maxim).



 


		5.	These Indemnification
Provisions shall remain in full force and effect whether or not the transaction contemplated by the Agreement is completed and
shall survive the termination of the Agreement and shall be in addition to any liability that the Company might otherwise have
to any indemnified party under the Agreement or otherwise.



 


[FINAL PAGE TO ADDENDUM A OF THE AGREEMENT]