Exhibit 10.7


 


CONVERTIBLE NOTE PURCHASE AGREEMENT 


 


by and between 


 


Global Seed Corporation 


 


and 


 


[Purchaser’s Name]


 


Dated [      ]





 






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THIS CONVERTIBLE NOTE PURCHASE AGREEMENT (this “Agreement”),
dated November [    ], 2019, is entered into by and between:


 


(1) Global Seed Corporation, a company incorporated under the
laws of the State of Texas (the “Company”); and


 


(2) [Purchaser’s Name] (the “Purchaser”).


 


RECITALS 


 


WHEREAS, the Company desires to issue and sell to the Purchaser,
and the Purchaser desires to subscribe for and purchase from the Company, the Note (as defined below) on the terms and subject
to the conditions of this Agreement.


 


NOW, THEREFORE, in consideration of the foregoing and the mutual
representations, warranties, covenants and agreements set forth herein, as well as other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, the parties, intending to be legally bound, agree as follows:


 


ARTICLE I 


DEFINITIONS AND INTERPRETATION 


 


Section 1.1 Definitions. In this Agreement, except to
the extent otherwise provided or that the context otherwise requires:


 


“Affiliate” means, with respect to any specified
Person, any Person that controls, is controlled by, or is under common control with such Person. For purposes of this definition,
the term “control” (including the terms “controlling,” “controlled by” and “under common
control with”), when used with respect to any specified Person, means the possession, directly or indirectly, individually
or together with any other Person, of the power to direct or to cause the direction of the management and policies of a Person,
whether through ownership of voting securities or other interests, by contract or otherwise.


 


“Agreement” has the meaning ascribed to this
term in the preamble hereto.


 


“Anti-Money Laundering Laws” has the meaning
ascribed to this term in Section 3.7(a).


 


“Business Day” means any day that is not
a Saturday, a Sunday or other day on which banking institutions in the Cayman Islands, the State of New York, Beijing, or Hong
Kong are required by Law to be closed.


 


“Closing” has the meaning ascribed to this
term in Section 2.2(a).


 


“Closing Date” has the meaning ascribed to
this term in Section 2.2(a).


 


“Common Stock” means shares of the common
stock of the Company, par value US$0.0001 per share.


 


“Company” has the meaning ascribed to this
term in the preamble hereto.


 


“Company Material Adverse Effect” means any
event, change, development or occurrence that, individually or in the aggregate, has had or would reasonably be expected to have
a material adverse effect on (a) the business, shareholders’ equity, financial condition or results of operations of the
Company and the Subsidiaries, taken as a whole (including any material adverse action by applicable regulatory authorities), or
(b) the ability of the Company to enter into this Agreement, the Note or to perform its obligations hereunder or thereunder; provided,
however, that for purposes of clause (a) above, no change, event, circumstance, development or effect attributable to or
resulting from any of the following shall be deemed to be, or taken into account in determining whether there has been or would
reasonably be expected to be, a Company Material Adverse Effect: (i) changes, events, developments or circumstances in or affecting
general economic conditions or the securities, credit or financial markets in general (including interest rates and exchange rates),
(ii) changes, events, developments or circumstances generally affecting the industries in which any of the Company and the Subsidiaries
operate, (iii) changes or developments in GAAP, other applicable accounting rules or applicable Law, or the enforcement or interpretation
thereof, or changes or developments in political, regulatory or legislative conditions, (iv) changes, events, circumstances or
developments resulting from any weather-related or other force majeure event or natural disaster (including hurricane, tornado,
flood, earthquake, tsunami or volcano eruption) or outbreak or escalation of hostilities or acts of war (whether or not declared)
or terrorism, (v) seasonal fluctuations in the Company or its Subsidiaries’ business performance or results of operations,
(vi) the matters publicly disclosed, (vii) any failure by the Company or any of the Subsidiaries to meet any internal or published
projections, forecasts, estimates or projections or analysts’ expectations in respect of revenues, cash flow, earnings or
other financial or operating metrics for any period, in and of itself, or (viii) any changes in the market price or trading volume
of Common Stock; provided, however, that (A) the underlying cause(s) of such change or failure shall not be excluded
in the case of clauses (vii) and (viii) (unless otherwise excepted under the foregoing clauses (i) through (vi)) and (B) any changes,
events, circumstances or developments referred to in clauses (i), (ii), (iii) and (iv) shall not be excluded to the extent the
same disproportionately affect (individually or together with other changes, events, circumstances or developments) the Company
and the Subsidiaries, taken as a whole, as compared to other similarly situated Persons operating in the same principal industries
in which the Company and the Subsidiaries operate.


 






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“Company SEC Documents” means all reports,
statements, schedules, forms and other documents filed or furnished by the Company with the SEC, including all financial statements,
notes, exhibits and schedules included therein and all documents incorporated by reference therein.


 


“Conversion Shares” means the Common stock
into which the Note is convertible.


 


“Exchange Act” means the United States Securities
Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder.


 


“GAAP” means accounting principles generally
accepted in the United States.


 


“Governmental Authority” means any federal,
national, supranational, state, provincial, local, municipal or other government, any governmental, quasi-governmental, supranational,
judicial, regulatory or administrative authority (including any governmental division, department, agency, commission, instrumentality,
organization, unit or body, political subdivision, and any court or other tribunal) or any stock exchange or self-regulatory organization
(including OTC Markets Group Inc.) with competent jurisdiction.


 


“Governmental Order” means any order, writ,
judgment, injunction, decree, stipulation, determination or award entered by or with any Governmental Authority.


 


“HKIAC” has the meaning ascribed to this
term in Section 8.2(b).


 


“HKIAC Rules” has the meaning ascribed to
this term in Section 8.2(b).


 


“Information” has the meaning ascribed to
this term in Section 4.2(c).


 


“Law” means any statute, law, ordinance,
regulation, rule, code, order, judgment, writ, injunction, decree or requirement of law (including common law) enacted, issued,
promulgated, enforced or entered by a Governmental Authority.


 


“Lien” means, with respect to any property
or asset, any mortgage, pledge, claim, security interest, easement, covenant, restriction, reservation, defect in title, encroachment
or other encumbrance, lien (choate or inchoate), charge, equity, or other restriction or limitation, whether arising by contract
or under Law.


 


“Lock-Up Securities” has the meaning ascribed
to this term in Section 6.4.


 


“Note” means the convertible note in the
principal value as set forth in the Section 2.1 of this Agreement issued to the Purchaser pursuant to Article II, the form
of which is attached hereto as Exhibit A.


 


“Permits” has the meaning ascribed to this
term in Section 3.7(b).


 


“Person” means an individual, a corporation,
a limited liability company, an association, a partnership, a joint venture, a joint stock company, a trust, an unincorporated
organization or a Governmental Authority.


 


“PRC” means the People’s Republic of
China.


 


“Proceeding” means any action, suit, litigation,
arbitration, proceeding (including any civil, criminal, administrative or appellate proceeding) or hearing commenced, brought,
conducted or heard by or before, or otherwise involving, any arbitrator, arbitration panel, court or other Governmental Authority.


 






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“Purchase Price” has the meaning ascribed
to this term in Section 2.1.


 


“Purchaser” has the meaning ascribed to this
term in the preamble hereto.


 


“Purchaser Material Adverse Effect” means
any event, change or occurrence that, individually or in the aggregate, has had or would reasonably be expected to have a material
adverse effect on the ability of the Purchaser to enter into this Agreement or to perform its obligations hereunder.


 


“SEC” means the United States Securities
and Exchange Commission.


 


“Securities Act” means the United States
Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder.


 


“Subsidiary” means, as of the relevant date
of determination, with respect to any Person (the “subject entity”), (i) any Person (x) more than fifty percent (50%)
of whose shares or other interests entitled to vote in the election of directors or (y) more than fifty percent (50%) interest
in the profits or capital of such Person are owned or controlled directly or indirectly by the subject entity or through one or
more Subsidiaries of the subject entity, (ii) any Person, including for the avoidance of doubt any “variable interest entity,”
whose financial statements, or portions thereof, are or are intended to be consolidated with the financial statements of the subject
entity for financial reporting purposes in accordance with GAAP or (iii) any Person with respect to which the subject entity has
the sole power to control or otherwise direct the business and policies of that entity directly or indirectly through another subsidiary
or otherwise.


 


Section 1.2 Interpretation and Rules of Construction.
In this Agreement, except to the extent otherwise provided or that the context otherwise requires:


 


(a) The words “party” and “parties”
shall be construed to mean a party or the parties to this Agreement, and any reference to a party to this Agreement or any other
agreement or document contemplated hereby shall include such party’s successors and permitted assigns.


 


(b) When a reference is made in this Agreement to an article,
section or clause, such reference is to an article, section or clause of this Agreement.


 


(c) The headings for this Agreement are for reference purposes
only and do not affect in any way the meaning or interpretation of this Agreement.


 


(d) Whenever the words “include,” “includes”
or “including” are used in this Agreement, they are deemed to be followed by the words “without limitation.”


 


(e) The words “hereof,” “herein” and
“hereunder” and words of similar import, when used in this Agreement, refer to this Agreement as a whole and not to
any particular provision of this Agreement.


 


(f) All terms defined in this Agreement have the defined meanings
when used in any certificate or other document made or delivered pursuant hereto, unless otherwise defined therein.


 


(g) The definitions contained in this Agreement are applicable
to the singular as well as the plural forms of such terms.


 


(h) A reference to any legislation or to any provision of any
legislation shall include any modification, amendment, re-enactment thereof, any legislative provision substituted therefor and
all rules, regulations and statutory instruments issued or related to such legislation.


 


(i) The parties have each participated in the negotiation and
drafting of this Agreement and if any ambiguity or question of interpretation should arise, this Agreement shall be construed as
if drafted jointly by the parties and no presumption or burden of proof shall arise favoring or burdening either party by virtue
of the authorship of any of the provisions in this Agreement or any interim drafts thereof.


 






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ARTICLE II 


PURCHASE AND SALE OF THE NOTE 


 


Section 2.1 Sale and Issuance of the Note. Subject to
the terms and conditions of this Agreement, at the Closing, the Company agrees to issue and sell to the Purchaser, and the Purchaser
agrees to subscribe for and purchase from the Company, the Note, for a purchase price of US$[    ], with a minimum purchase price
of US$20,000.00 (the “Purchase Price”).


 


Section 2.2 Closing.


 


(a) Subject to the satisfaction or waiver of the conditions
set forth in Article V, the closing of the transactions described in this Agreement (the “Closing”) shall
take place as soon as practicable but in no event later than the third (3rd) Business Day following the satisfaction or waiver
of the conditions set forth in Article V (other than those conditions that by their nature are to be satisfied at the Closing),
or such other date as the parties may mutually agree in writing (the date on which the Closing takes place, the “Closing
Date”).


 


(b) The Closing shall take place remotely via the exchange of
documents and signatures, or at such other place and in such other manner as the parties may mutually agree in writing.


 


(c) At the Closing, the Purchaser shall pay the Purchase Price
to the Company in U.S. dollars by wire transfer of immediately available funds to a bank account designated in writing by the Company
to the Purchaser at least two (2) Business Days prior to the Closing Date.


 


(d) At the Closing, the Company shall deliver to the Purchaser
the Note, dated the Closing Date and registered in the name of the Purchaser.


 


ARTICLE III 


REPRESENTATIONS AND WARRANTIES OF THE
COMPANY 


 


Except as set forth in the Company SEC Documents, the Company
hereby represents and warrants to the Purchaser that, as of the date hereof and as of the Closing:


 


Section 3.1 Organization, Good Standing and Qualification.
The Company is a company duly incorporated, validly existing and in good standing under the Laws of Texas, and each of the Company’s
Subsidiaries is duly incorporated or organized, validly existing and in good standing (where such concept is applicable) under
the Laws of the jurisdiction of its incorporation or organization. The Company and each of its Subsidiaries has the requisite corporate
power and authority to own or lease all of its properties and assets and to carry on its business as it is now being conducted,
and is duly licensed or qualified to do business in each jurisdiction in which the nature of the business conducted by it or the
character or location of the properties and assets owned or leased by it makes such licensing or qualification necessary, except
where the failure so to qualify or to be in good standing would not, individually or in the aggregate, result in a Company Material
Adverse Effect.


 


Section 3.2 Authorization. The Company has all requisite
corporate power to enter into this Agreement and the Note and to perform its obligations hereunder and thereunder. The execution,
delivery and performance of this Agreement and the Note by the Company have been duly authorized by all necessary corporate action
on the part of the Company. This Agreement has been or will be duly executed and delivered by the Company and, assuming due authorization,
execution and delivery by the Purchaser, constitute or will constitute legal, valid and binding obligation of the Company, enforceable
against the Company in accordance with its terms, except as enforcement may be limited by general principles of equity, whether
applied in a court of Law or a court of equity, and by applicable bankruptcy, insolvency and similar Law affecting creditors’
rights and remedies generally.


 


Section 3.3 Valid Issuance. The Note has been duly and
validly authorized for issuance and sale to the Purchaser by the Company, and when issued and delivered by the Company against
payment therefor by the Purchaser in accordance with the terms of this Agreement, the Note will be legally binding and valid obligations
of the Company and enforceable against the Company in accordance with its terms, except as enforcement may be limited by general
principles of equity, whether applied in a court of Law or a court of equity, and by applicable bankruptcy, insolvency and similar
Law affecting creditors’ rights and remedies generally. The Conversion Shares have been duly authorized for issuance and,
when issued upon conversion of the Note, will be duly and validly issued, fully paid and non-assessable, and will not be subject
to any pre-emptive or similar rights and will rank pari passu with all other existing Common stock.


 






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Section 3.4 No Violation. The execution, delivery and
performance by the Company of this Agreement and the Note, the issuance of the Conversion Shares upon conversion of the Note, and
the consummation of the other transactions contemplated hereby and thereby, do not and will not (i) violate, conflict with or result
in the breach of any provision of the certification of formation (or similar organizational documents) of the Company or any of
its Subsidiaries, (ii) subject to the truth and accuracy of the representations and warranties of the Purchaser in Article IV,
conflict with or violate any Law or Governmental Order applicable to the Company or any of its Subsidiaries or the assets, properties,
businesses or operations of the Company or any of its Subsidiaries, or (iii) conflict with, result in any breach of, constitute
a default (or event which with the giving of notice or lapse of time, or both, would become a default) under, require any consent
under, or give to others any rights of termination, amendment, acceleration, suspension, revocation or cancellation of, any note,
bond, mortgage or indenture, contract, agreement, lease, sublease, license, permit, franchise or other instrument or arrangement
to which the Company or any of its Subsidiaries is a party or result in the creation of any Liens upon any of the properties or
assets of the Company or any of its Subsidiaries.


 


Section 3.5 No Default. To the Company’s knowledge,
neither the Company nor any of its Subsidiaries (i) is in violation of any provision of its Certificate of Formation (or similar
organizational documents) ; (ii) is in default, and no event has occurred that, with notice or lapse of time or both, would constitute
such a default, in the due performance or observance of any term, covenant or condition contained in any indenture, mortgage, deed
of trust, loan agreement or other agreement or instrument to which the Company or any of its Subsidiaries is a party or by which
the Company or any of its Subsidiaries is bound or to which any of the property or assets of the Company or any of its subsidiaries
is subject; or (iii) is in violation of any law or statute applicable to the Company or any of its Subsidiaries or any judgment,
order, rule or regulation of any court or arbitrator or governmental or regulatory authority having jurisdiction over the Company
or any of its Subsidiaries, except, in the case of clauses (ii) and (iii) above, for any such default or violation that would not
reasonably be expected, individually or in the aggregate, to have a Company Material Adverse Effect.


 


Section 3.6 Consents. Subject to the truth and accuracy
of the representations and warranties of the Purchaser in Article IV, the execution, delivery and performance by the Company
of this Agreement and the Note, the issuance of the Conversion Shares upon conversion of the Note, and the consummation of the
other transactions contemplated hereby and thereby do not and will not require any consent, approval, authorization or other order
of, action by, filing with, or notification to, any Governmental Authority or any third party other than those as have been made
or obtained, and except for any required filing or notification with the SEC in connection therewith.


 


Section 3.7 Compliance with Applicable Laws; Permits.


 


(a) None of the Company, its Subsidiaries and, the Company’s
and its Subsidiaries’ respective directors, officers, and to the knowledge of the Company, employees, representatives, agents
or affiliates, has violated, and the Company’s participation in the transaction contemplated hereby will not violate, any
Anti-Money Laundering Laws (as defined below). As used herein, “Anti-Money Laundering Laws” means all applicable
Laws regarding anti-money laundering, including, without limitation, Title 18 U.S. Code section 1956 and 1957, the USA Patriot
Act, the Bank Secrecy Act, and international anti-money laundering principals or procedures published by an intergovernmental group
or organization, such as the Financial Action Task Force on Money Laundering, of which the United States is a member and with which
designation the United States representative to the group or organization continues to concur, in each case as amended, and any
executive order, directive, or regulation pursuant to the authority of any of the foregoing, or any orders or licenses issued thereunder.
There is no action, suit or proceeding by or before any court or governmental agency, authority or body or any arbitrator involving
the Company or any of its Subsidiaries with respect to Anti-Money Laundering Laws that is pending or, to the knowledge of the Company,
threatened.


 


(b) Except in each case as, individually or in the aggregate,
has not had and would not reasonably be expected to have a Company Material Adverse Effect, (i) the Company and its Subsidiaries
have all licenses, permits, qualifications, accreditations, approvals, consents, authorizations, franchises, variances, exemptions
and orders of any Governmental Authority (collectively, the “Permits”), and have made all necessary filings
required under applicable Laws, necessary to conduct the business of the Company and its Subsidiaries, (ii) since December 31,
2018, neither the Company nor any of its Subsidiaries has received any written notice of any violation of or failure to comply
with any Permit or any actual or possible revocation, withdrawal, suspension, cancellation, termination or material modification
of any Permit, and (iii) each such Permit has been validly issued or obtained and is in full force and effect.


 


Section 3.8 Capitalization; Subsidiaries.


 


(a) The authorized capital stock of the Company consists of
9,989,886,988 shares of Common Stock, par value of US$0.0001 per share, of which 257,874,025 shares are issued and outstanding
as of the date of this Agreement; and 8,999,886,999 shares of Preferred Stock, par value US$0.0001, of which none is issued and
outstanding as of the date of this Agreement. The Company has no outstanding warrants, options, bonds, debentures, notes or other
obligations, the holders of which have the right to vote (or which are convertible into or exercisable or exchangeable for securities
having the right to vote) with the shareholders of the Company on any matter. All issued and outstanding Common Stock have been
duly authorized and validly issued and are fully paid and non-assessable, are free of preemptive rights, were issued in compliance
with applicable U.S. and other applicable securities Laws and were not issued in violation of any preemptive right, resale right,
right of first refusal, or similar right.


 






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(b) The authorized capital stock of the Company is sufficient
to accommodate the issuance of the Conversion Shares upon conversion of the Note.


 


(c) All outstanding shares of capital stock or other securities
of the Subsidiaries (other than any Significant Subsidiary organized under the Laws of the PRC) are duly authorized, validly issued,
fully paid and non-assessable. The registered capital of each Subsidiary organized under the Laws of the PRC has been timely contributed
in accordance (if so required) with its articles of association.


 


Section 3.9 Litigation.


 


(a) As of the date of this Agreement, to the knowledge of the
Company, there is no pending Proceeding against the Company or any of its Subsidiaries or any director or officer thereof (in their
capacity as such), in each case, as would have, if decided adversely, individually or in the aggregate, a Company Material Adverse
Effect.


 


(b) There is no Governmental Order in effect or pending to which
the Company or any of its Subsidiaries is a party or subject which materially interferes with the business of the Company and its
Subsidiaries as currently conducted, taken as a whole.


 


Section 3.10 [Intentionally Omitted].


 


Section 3.11 Intellectual Property. The Company owns,
or possesses the right to use, all of the intellectual property, licenses, permits and other authorizations that are reasonably
necessary for the operation of its business, without infringing the rights of any other Person, except for failures to so own,
or so possess the right to use, that would not have a Company Material Adverse Effect.


 


Section 3.12 Real and Personal Property. Except as would
not reasonably be expected, individually or in the aggregate, to have a Company Material Adverse Effect, the Company and its Subsidiaries
have valid and marketable rights to lease or otherwise use, all items of real and personal property and assets (other than intellectual
property, which is subject to Section 3.11) that are material to the business of the Company and its Subsidiaries, in each
case free and clear of all Liens, encumbrances, claims and defects and imperfections of title.


 


Section 3.13 Investment Company. The Company is not,
and immediately after receipt of the Purchase Price will not be, an “investment company” within the meaning of the
Investment Company Act of 1940, as amended.


 


Section 3.14 Offering. Subject to the truth and accuracy
of the representations and warranties of the Purchaser in Section 4.1(f), the offer, sale and issuance of the Note are conducted
outside the United States in an “offshore transaction” as defined in Rule 902 of Regulation S under the Securities
Act and are exempt from the registration requirements of the Securities Act.


 


Section 3.15 Listing. The Common Stock are registered
pursuant to Section 12(g) of the Exchange Act and the shares of the Common Stock are listed on the OTC Markets.


 


Section 3.16 [Intentionally Omitted].


 


Section 3.17 No General Solicitation. Neither the Company
nor any other Person authorized by the Company to act on its behalf has engaged in a general solicitation or general advertising
(within the meaning of Regulation D of the Securities Act) of investors with respect to offers or sales of the Note. The Company
has not, directly or indirectly, sold, offered for sale, solicited offers to buy or otherwise negotiated in respect of, any security
(as defined in the Securities Act) which, to its knowledge, is or will be integrated with the Note sold pursuant to this Agreement.


 


Section 3.18 Brokers. Neither the Company nor any other
Person authorized by the Company to act on its behalf has retained, utilized or been represented by any broker or finder in connection
with the transactions contemplated by this Agreement whose fees the Purchaser would be required to pay.


 






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ARTICLE IV 


REPRESENTATIONS, WARRANTIES AND AGREEMENTS
OF THE PURCHASER 


 


Section 4.1 Representations and Warranties of the Purchaser.
The Purchaser hereby represents and warrants to the Company that, as of the date hereof and as of the Closing:


 


(a) Organization and Good Standing. The Purchaser is
duly incorporated, validly existing and in good standing under the Laws of its jurisdiction of organization, if the Purchaser is
a corporate entity.


 


(b) Authorization. The Purchaser has all requisite corporate
power to enter into this Agreement and to perform its obligations hereunder. The execution, delivery and performance of this Agreement
by the Purchaser have been duly authorized by all necessary corporate or similar action on the part of the Purchaser. This Agreement
has been or will be duly executed and delivered by the Purchaser and, assuming due authorization, execution and delivery by the
Company, constitute or will constitute legal, valid and binding obligation of the Purchaser, enforceable against the Purchaser
in accordance with its terms, except as enforcement may be limited by general principles of equity, whether applied in a court
of Law or a court of equity, and by applicable bankruptcy, insolvency and similar Law affecting creditors’ rights and remedies
generally.


 


(c) No Violation. The execution, delivery and performance
by the Purchaser of this Agreement and the Note and the consummation of the transactions contemplated hereby and thereby do not
and will not (i) violate, conflict with or result in the breach of any provision of its memorandum and articles of association
(or similar organizational documents), (ii) conflict with or violate any Law or Governmental Order applicable to it or any of its
assets, properties or businesses, or (iii) conflict with, result in any breach of, constitute a default (or event which with the
giving of notice or lapse of time, or both, would become a default) under, require any consent under, or give to others any rights
of termination, amendment, acceleration, suspension, revocation or cancellation of, any note, bond, mortgage or indenture, contract,
agreement, lease, sublease, license, permit, franchise or other instrument or arrangement to which it is a party or result in the
creation of any Liens upon any of its properties or assets, other than, in the case of clauses (ii) and (iii) above, any such conflict,
violation, default, termination, amendment, acceleration, suspension, revocation, cancellation or encumbrance that would not have,
individually or in the aggregate, a Purchaser Material Adverse Effect.


 


(d) Consents. The execution, delivery and performance
by the Purchaser of this Agreement and the Note do not and will not require any consent, approval, authorization or other order
of, action by, filing with, or notification to, any Governmental Authority or any third party.


 


(e) Offshore Transaction. The Purchaser is not a “U.S.
person” and is located outside of the United States, as such terms are defined in Rule 902 of Regulation S under the Securities
Act. The Purchaser is acquiring the Note in an offshore transaction executed in reliance upon the exemption from registration provided
by Regulation S under the Securities Act.


 


(f) No Distribution. The Purchaser is acquiring the Note
for its own account and not with a view towards, or for resale in connection with, the public sale or distribution thereof, except
pursuant to sales registered or exempted under the Securities Act. The Purchaser does not presently have any agreement or understanding,
directly or indirectly, to distribute the Note or any Conversion Shares.


 


(g) Restricted Securities. The Purchaser acknowledges
that the Note and the Conversion Shares are “restricted securities” that have not been registered under the Securities
Act or any applicable state securities Law, and may not be resold unless pursuant to an effective registration under the Securities
Act and applicable state securities Laws or an exemption from.


 


(h) Brokers. Neither the Purchaser nor any other Person
authorized by the Purchaser to act on its behalf has retained, utilized or been represented by any broker or finder in connection
with the transactions contemplated by this Agreement whose fees the Company would be required to pay.


 


(i) No Additional Representations. The Purchaser acknowledges
that the Company makes no express or implied representations or warranties as to any matter whatsoever except as expressly set
forth in this Agreement or in any certificate delivered by the Company to the Purchaser in accordance with the terms hereof.


 


Section 4.2 No Reliance.


 


(a) The Purchaser represents and warrants that (i) it is a sophisticated
investor familiar with transactions similar to those contemplated by this Agreement and the Note, and has sufficient knowledge
and experience in financial and business matters so as to be capable of evaluating the merits and risks of its investment in the
Note and the Conversion Shares; (ii) it is experienced in the trading of securities of private and public companies; and (iii)
it is capable of bearing the economic risks of such investment, including a complete loss thereof.


 






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(b) The Purchaser further represents and warrants that (i) it
has carefully reviewed such information as it and its advisers deem necessary to make its decision to invest in the Note and the
Conversion Shares, (ii) has the ability to make, and has made, an informed decision as to the risks and merits of its investment
in the Note and the Conversion Shares on the terms set forth in this Agreement and the Note, and (iii) has made its own decision
to consummate the transactions contemplated hereunder based exclusively on its own independent review, its financial experience,
and consultations with such advisers as it deemed necessary. Without limiting the generality of the foregoing, the Purchaser acknowledges
that neither the Company nor any of its Affiliates or representatives is acting as a fiduciary or financial or investment adviser
to the Purchaser, or has given the Purchaser any investment advice, opinion or other information on whether an investment in the
Note and/or the Conversion Shares is prudent. The Purchaser is not relying on the Information (as defined below), or any other
information other than the express representations set forth in this Agreement.


 


(c) The Purchaser acknowledges that the Company and its Affiliates
and representatives possess material nonpublic information regarding the Company not known to the Purchaser that may impact the
value of the Note and/or the Conversion Shares (the “Information”), that the Information is not disclosed in
the Company’s public disclosures or its filings with the SEC, and that the Company is not disclosing the Information to the
Purchaser and that the Company and its Affiliates and representatives have not made, and are not making, any representation with
respect to any Information. The Purchaser understands, based on its experience, the disadvantage to which the Purchaser is subject
due to the disparity of information between the Company and the Purchaser and the fact that the Information is not being disclosed
to the Purchaser. The Purchaser acknowledges and agrees that, notwithstanding such disparity, it has deemed it appropriate to enter
into this Agreement and the Note and to consummate the transactions contemplated hereunder and thereunder. The Purchaser acknowledges
the possibility that the Information may be material to a determination of a fair value for the Note or the Conversion Shares and
that value may be substantially different from the Purchase Price.


 


(d) The Purchaser agrees that neither the Company nor any of
its Affiliates or representatives shall have any liability to the Purchaser whatsoever due to or in connection with the non-disclosure
of the Information, and the Purchaser hereby irrevocably waives any claim that it might have based on the failure of the Company
to disclose the Information. The Purchaser hereby irrevocably and unconditionally expressly releases, discharges and waives, to
the fullest extent permitted by law, any and all claims, rights, causes of action, suits, obligations, debts, demands, liabilities,
controversies, costs, expenses, fees or damages of any kind (including, but not limited to, any and all claims alleging violations
of federal or state securities laws, common-law fraud or deceit, breach of fiduciary duty, negligence or otherwise), whether directly,
derivatively, representatively or in any other capacity, that it may have or hereafter acquire against the Company, or any of its
Affiliates and their respective officers, employees, agents and controlling persons, relating to the offer and sale of the Note
and/or the Conversion Shares, including the existence or non-existence of any Information, the Purchaser’s inability to review
such Information or any failure to disclose such Information.


 


(e) The Purchaser understands that the Company relies on the
accuracy and truth of the foregoing representations, warranties, acknowledgements and agreements in entering into this Agreement
and the Note and performing its obligations hereunder and thereunder, and would not engage in the transactions contemplated by
this Agreement and the Note in the absence of such representations, warranties, acknowledgements and agreements, and the Purchaser
hereby consents to such reliance.


 


(f) Notwithstanding the forgoing, nothing in this Section
4.2 shall be deemed to limit or restrict the Purchaser’s rights or remedies with respect to any breach or violation by
the Company of any of its representations, warranties or covenants contained in this Agreement or the Note.


 


ARTICLE V 


CONDITIONS 


 


Section 5.1 Conditions to the Purchaser’s Obligations.
The obligations of the Purchaser to consummate the Closing are subject to the satisfaction, on or before the Closing Date, of the
following conditions, any of which may be waived in writing by the Purchaser in its sole discretion:


 


(a) The representations and warranties of the Company contained
in Article III shall be true and correct in all material respects (except for those representations and warranties that
are qualified by materiality or Company Material Adverse Effect, which shall be true and correct to such extent) as of the date
hereof and as of the Closing (except for those representations and warranties that speak as of a specific date, which shall be
so true and correct as of such date).


 


 






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(b) The Company shall have performed its obligations hereunder
to be performed on or before the Closing Date in all material respects.


 


(c) Since the date hereof, there shall not have occurred any
circumstance or event that, individually or in the aggregate, has had or would reasonably be expected to have a Company Material
Adverse Effect.


 


Section 5.2 Conditions to the Company’s Obligations.
The obligations of the Company to consummate the Closing are subject to the satisfaction, on or before the Closing Date, of the
following conditions, any of which may be waived in writing by the Company in its sole discretion:


 


(a) The representations and warranties of the Purchaser contained
herein shall be true and correct in all material respects (except for those representations and warranties that are qualified by
materiality or Purchaser Material Adverse Effect, which shall be true and correct to such extent) as of the date hereof and as
of the Closing.


 


(b) The Purchaser shall have performed its obligations hereunder
to be performed on or before the Closing Date in all material respects.


 


(c) Since the date hereof, there shall not have occurred any
circumstance or event that, individually or in the aggregate, has had or would reasonably be expected to have a Purchaser Material
Adverse Effect.


 


ARTICLE VI 


AGREEMENTS 


 


Section 6.1 Use of Proceeds. The Company shall use the
net proceeds from the sale of the Note hereunder for working capital and other lawful general corporate purposes consistent with
past practice and in the ordinary course of business or for the payment of any amount payable hereunder, and shall not use such
proceeds (a) for the satisfaction of any portion of the Company’s debt other than payment of any amount payable hereunder
or any trade payables in the ordinary course of the Company’s business and consistent with past practices, (b) for the payment
of dividends on or the redemption of any capital stock of the Company, ADS or any shares, interests, rights to acquire, warrants,
options, participations or other equivalents of or interests in (however designated) stock issued by the Company or (c) for the
settlement of any outstanding litigation.


 


Section 6.2 Lock-up. The Purchaser shall not, at any
time during the term of the Note, directly or indirectly, (i) offer, sell, pledge, transfer, assign or otherwise dispose of all
or any part of the Note, any Conversion Shares, any Common stock, or other securities of the Company (collectively, “Lock-Up
Securities”) to any third party, (ii) enter into any swap, short sale or any other arrangement or any transaction that
transfers, in whole or in part, directly or indirectly, the economic consequence of ownership of any Lock-Up Securities, (iii)
enter into any agreement with respect to any of the foregoing, or (iv) publicly disclose the intention to effect any of the foregoing,
without, in each case, the prior written consent of the Company.


 


Section 6.2 Registration. The Company shall, at its own
cost, register the issuance of the Conversion Shares or the Conversion Shares on an applicable registration statement and cause
such registration statement to be declared effective by the SEC by the Maturity Date. For the purpose of this clause, Maturity
Date means a date on which the Note is due, which is 30 months from the date on which the Note is issued.


 


ARTICLE VII 


TERMINATION 


 


Section 7.1 Termination. This Agreement may be terminated:


 


(a) by the written consent of both parties; or


 


(b) by either the Company or the Purchaser, if the Closing shall
not have occurred by April 30, 2020; provided, however, that the right to terminate this Agreement under this Section
7.1(b) shall not be available to any party whose failure to fulfill any obligation under this Agreement shall have been the
principal cause of, or shall have resulted in, the failure of the Closing to occur on or prior to such date.


 


Section 7.2 Effect of Termination. Upon any termination
of this Agreement pursuant to Section 7.1, this Agreement will have no further force or effect, except that this Section
7.2 and Article VIII shall survive such termination and remain in full force and effect; provided that no termination
of this Agreement shall relieve any party of liability for any breach of this Agreement prior to such termination.


 






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ARTICLE VIII 


MISCELLANEOUS 


 


Section 8.1 Successors and Assigns; No Third Party Beneficiaries.
This Agreement and the rights and obligations herein may not be assigned by any party without the prior written consent of the
other party. This Agreement shall be binding upon and inure solely to the benefit of the parties and their respective successors
and permitted assigns and nothing herein, express or implied, is intended to or shall confer upon any other Person any legal or
equitable right, benefit or remedy of any nature whatsoever, except as expressly provided in this Agreement.


 


Section 8.2 Governing Law; Dispute Resolution.


 


(a) This Agreement shall be governed by and construed in accordance
with the laws of the State of New York, without regard to the principles of conflict of laws.


 


(b) Any dispute, controversy, difference or claim arising out
of or relating to this Agreement, including its existence, validity, interpretation, performance, breach or termination or any
dispute regarding non-contractual obligations arising out of or relating to it, shall be referred to and finally resolved by arbitration
administered by the Hong Kong International Arbitration Centre (“HKIAC”) under the HKIAC Administered Arbitration
Rules (the “HKIAC Rules”) in force when the notice of arbitration is submitted. The law of this arbitration
clause shall be Hong Kong law. The seat of arbitration shall be Hong Kong. The arbitration tribunal shall consist of one arbitrator
to be appointed in accordance with the HKIAC Rules. Any party may apply for a preservation order or seek other interim or injunctive
relief, and judgment upon an award rendered in arbitration proceedings under this Agreement may be applied for and entered, in
each case in any court of competent jurisdiction.


 


Section 8.3 Counterparts. This Agreement may be signed
in any number of counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the
same instrument.


 


Section 8.4 Notices. All notices, requests, claims, demands
and other communications hereunder shall be in writing and shall be deemed duly given, made or received (i) on the date of delivery
if delivered in person, (ii) on the date of confirmation of receipt of transmission by facsimile or other form of electronic delivery
(provided confirmation of transmission is mechanically or electronically generated and kept on file by the sending party)
or (iii) three (3) Business Days after deposit with an internationally recognized express courier service to the respective parties
at the following addresses (or at such other address for a party as shall be specified in a notice given in accordance with this
Section 8.4):


 


If to the Company, to:


 


3906-3907, Vanke ITC Center,


Changan, Dongguan, China 523845


Attn: Chan Hiu, CFO


Tel: (852) 65533834


Email:


 


If to the Purchaser, to:


 


[       ]


 


Section 8.5 Fees and Expenses. Each party shall bear
and pay its own costs, fees and expenses incurred by it in connection with this Agreement and the transactions contemplated hereby.


 


Section 8.6 Entire Agreement. Except as otherwise provided
herein, this Agreement, the Note, and the other documents delivered pursuant hereto or thereto constitute the entire agreement
between the parties with respect to the subject matter hereof and thereof, and supersede all prior agreements and understandings,
both oral and written, between the parties and/or their Subsidiaries and Affiliates with respect to such subject matter.


 






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Section 8.7 Amendment; Waiver.


 


(a) This Agreement may be amended, modified or supplemented
only by a written instrument duly executed by both parties.


 


(b) The observance of any provision in this Agreement may be
waived only by the written consent of the party against whom such waiver is to be effective. No failure or delay on the part of
any party to exercise any right hereunder shall operate as waiver thereof, nor shall any single or partial exercise by any party
of any right preclude any other or future exercise thereof or the exercise of any other right.


 


Section 8.8 Severability. If any provision of this Agreement
is found to be invalid or unenforceable, then such provision shall be construed, to the extent feasible, so as to render the provision
enforceable and to provide for the consummation of the transactions contemplated hereby on substantially the same terms as originally
set forth herein, and if no feasible interpretation would save such provision, it shall be severed from the remainder of this Agreement,
which shall remain in full force and effect unless the severed provision is essential to the rights or benefits intended by the
parties. In such event, the parties shall use commercially reasonable efforts to negotiate, in good faith, a substitute, valid
and enforceable provision or agreement, which most nearly effects the parties’ intent in entering into this Agreement.


 


[The remainder of this page is intentionally
left blank.]


 




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IN WITNESS WHEREOF, the parties have caused their duly authorized
representatives to execute this Agreement on the date first above written.


 


	 	Global Seed Corporation
	 	 	 
	 	By:	         
	 		Name: 
	 		Title: 


 


[Signature Page to Convertible Note Purchase
Agreement] 


 




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IN WITNESS WHEREOF, the parties have caused their duly authorized
representatives to execute this Agreement as of the date first above written.


 


	 	[Purchaser]
	 	 
	 	By:	 
	 	 	Name: 
	 	 	Title: 


 


[Signature Page to Convertible Note Purchase
Agreement]


 




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EXHIBIT A 


FORM OF CONVERTIBLE NOTE 


 


[See a separate file.]


 


 


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