Document:

yq-ex412_187.htm

Exhibit 4.12

 

Equity Interest Pledge Agreement

 

This Equity Interest Pledge Agreement (“Agreement”) is entered into as of the date of March 4, 2022 by and among the following parties in Beijing, the People’s Republic of China (“PRC”).:

 

Party A:Guangzhou Qixiang Technology Co., Ltd (“Guangzhou Qixiang”), a wholly foreign-owned enterprise duly established and validly registered under the laws of the PRC, whose unified social credit code is [***] and whose registered address is at D-8, Room 1903, No.13 Huaming Road, Tianhe District, Guangzhou;

 

 

Party B: 

Chang Liu, PRC citizen, whose Identity Number is [***];

Zhan Xie, PRC citizen, whose Identity Number is [***];

 

 

Party C: Beijing Qili Technology Co., Ltd (“Beijing Qili”), a company with limited liabilities duly established and validly registered under the laws of the PRC, whose unified social credit code is [***], and whose registered address is at Room 404, Floor 4, Building 7, Zone 4, Wangjing Dongyuan, Chaoyang District, Beijing;

 

(Each of Party A, Party B and Party C, a “Party”, and collectively the “Parties”.)

 

WHEREAS,

 

	
(1)
	
 Party A, Party B and Party C have already executed the agreements listed in Appendix I (these agreements, as amended and restated from time to time, collectively referred to as the “Main Agreements”);

 

	
(2)
	
Party B collectively owns 100% of the equity interest of Party C in total, and Party B plans to pledge the equity interest of Party C it owns to Party A unconditionally, as a security for the performance of the obligations by Party B, Party C under the Main Agreements, and Party A agrees to accept such security (the “Pledge”).

 

NOW THEREFORE, Party A, Party B and Party C through mutual negotiations hereby enter into this Agreement based upon the following terms:

 

	
1.
	
Pledge

 

Party B agrees to pledge the equity interests of Party C and Party B’s equity in Party C’s new capital in accordance with Article 4.2, including dividends and bonuses derived from such equity it owns (the “Pledged Equity Interests”) to Party A unconditionally and irrevocably, as a security for the performance of the obligations by Party B, Party C under the Main Agreements.

 

 

 

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2.
	
Scope of Pledge

 

The Pledged Equity Interests under this Agreement extends to all obligations of Party B, Party C under the Main Agreements (including but not limited to any amounts, penalties, damages, dividends, profits or any asset etc. payable but not paid to Party A), any fees for exercising the creditor’s rights and the Pledge right, and any other related expenses, and shall not be limited to the amounts of secured creditor’s right recorded in administration for market regulation authorities.

 

If the competent authority requires the amount of the principal debt to be clarified during the registration of the equity pledge, the parties agree to register the principal amount of the debt under the principal contract as RMB 1 million and any liability for breach of contract and the amount of compensation for damages under all relevant contracts only for the purpose of the registration of the equity pledge. The parties further confirmed that, for the purpose of handling the equity pledge registration, it is clear that the aforementioned amount does not detract from or restrict all rights and benefits enjoyed by Party A in accordance with the relevant Main Agreements and this equity pledge agreement.

 

	
3.
	
Term and Dissolution of Pledge

 

	
 
	
3.1
	
The Pledge under this Agreement shall be effective from the date of registration of the Pledge with competent administration for market regulation authorities to the date on which the Main Agreements are completely performed, invalidated or terminated (the later date shall prevail). In the term of Pledge, if Party B, Party C fail to perform any of their obligations under the Main Agreements, or in case of occurrence of any of the events provided in Article 6.1, Party A is entitled but not obligated to dispose the Pledged Equity Interests in accordance with the provisions of this Agreement.

 

	
 
	
3.2
	
When all Main Agreements are performed entirely or terminated or become invalid (the later date shall prevail) and Party B, Party C fully and entirely perform obligations under Main Agreements and pay off entire secured debt, Party A shall rescind the Pledge under this Agreement according to Party B’s request, and assist Party B to deregister the Pledge recorded in Shareholders’ Book of Party C and registered with the competent administration for market regulation authorities. All fees and expenses arising from such deregistration of the Pledge shall be borne by Party C.

 

	
4.
	
Registration of Pledge and Retention of Equity Interest Record

 

	
 
	
4.1
	
Party B and Party C promise to Party A that, Party B and Party C shall: (i) on the date of the execution of the Agreement, record the Pledge under this Agreement on the Shareholders’ Book of Party C according to Appendix II and hand the recorded Shareholders’ Book to Party A for its keep; and (ii) within thirty (30) business days after the execution of this Agreement or other practically shortest period, register the Pledged Equity Interests with competent administration for market regulation authorities and obtain 

 

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evidencing documents of such registration. Without limitation to any provision of this Agreement, during the effective period of this Agreement the Shareholders’ Book of Party C shall always be in the custody of Party A or any agent designated by Party A, unless any necessary registration or alteration procedures are required to be fulfilled in the operation of Party C .

 

	
 
	
4.2
	
Party B and Party C further covenant that after the execution of this Agreement, Party B may make capital increase to Party C with the prior consent of Party A provided that any capital increase by Party B to Party C constitutes an integrated part of the Pledged Equity Interests of this Agreement. Party B and Party C shall make necessary modification to the Shareholders’ Book and capital contribution of relevant companies and conduct the pledge registration procedures according to Article 4.1.

 

	
 
	
4.3
	
All fees and expenses related to this Agreement, including but not limited to registration fee, cost, stamp tax or any other taxes, expenses shall be borne by Party C according to relevant laws and regulations.

 

	
 
	
4.4
	
During the term of Pledge stipulated by this Agreement, Party B shall deliver the capital contribution certificate to Party A within one (1) week after the execution of this Agreement. Party A shall keep the capital contribution certificate within the entire term of Pledge. Within the term of Pledge, Party A is entitled to collect the dividends of the Pledged Equity Interests.

 

	
5.
	
Covenants and Warranties of Party B and Party C

 

Party B and Party C hereby jointly and severally covenant and warrant to Party A as follows:

 

	
 
	
5.1
	
Party B is the lawful owner of the Pledged Equity Interests and there exists no dispute or potential dispute concerning the ownership of such equity interests. Party B has the right to dispose such equity interests or any part thereof without any restrictions by any third party.

 

	
 
	
5.2
	
Except for the Pledge and other right provided hereunder and in the Exclusive Option Agreement executed by relevant parties, Party B has not established any other pledge or other interests of any third party over the Pledged Equity Interests. The Pledged under this Agreement shall be first priority under the Pledged Equity Interests.  

 

	
 
	
5.3
	
Party B and Party C fully understand the contents of this Agreement and the execution of the Agreement by Party B and Party C is based on true and free will. Party B and Party C have taken all necessary measures and obtained all necessary internal authorization to execute and perform this Agreement, signed all necessary documents and obtained all approvals and consents from the government and third party (if applicable) to make sure the Pledge under the Agreement is lawful and valid.

 

 

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5.4
	
Either the execution of this Agreement or the performance of obligations under this Agreement will not (i) conflict with, breach or violate any applicable P.R.C. law,(ii) conflict with any organizational documents of Party C, (iii) conflict with, breach or violate any contract, document to which it is a Party or it is bound with; (iv) violate any license or permit granted to it and/or violate any condition to maintain the validity of any license or permit granted to it; or (v) cause any license or permit granted to it be terminated, rescinded or be imposed any condition.

 

	
 
	
5.5
	
During the effective period of this Agreement, Party B shall not transfer or assign the Pledged Equity Interests, authorize any rights relating to the Pledged Equity Interests to any third party, or create or permit to be created any security or other interests which may have an adverse effect on the rights or benefits of the Party A without prior written consent of Party A.

 

	
 
	
5.6
	
During the effective period of this Agreement, Party B and Party C shall abide by and implement all relevant PRC laws and regulations concerning the pledge of rights, and in the event Party B and Party C receive any notice, order or suggestion from competent authorities concerning the Pledged Equity Interests and/or the Pledge hereunder, Party B and Party C shall timely notify and show Party A of such notice or order within five (5) business days upon receipt thereof.

 

	
 
	
5.7
	
Party B and Party C shall not conduct or permit to be conducted anything that shall damage the value of the Pledged Equity Interests or the Pledge right of Party A. Party B and Party C shall notice Party A of any events that may influence the value of the Pledged Equity Interests or the Pledge right of Party A within five (5) business days after its knowledge of such events.

 

	
 
	
5.8
	
The Pledge under this Agreement shall remain fully effective during the effective period of the Agreement, and shall not be influenced by liquidation, lost of capacity, change of organization or status, any capital offset among the Parties or any other events.

 

	
 
	
5.9
	
For the purpose of performance of this Agreement, Party A is entitled to dispose the Pledged Equity Interests in accordance with the provision of this Agreement. Party A’s exercise of such right shall not be interrupted or jeopardized by Party B and Party C, their successors or agents, or any other persons by way of legal proceedings.

 

	
 
	
5.10
	
In order to ensure and consummate the security provided by this Agreement over the obligations of Party B, Party C under the Main Agreements, Party B and Party C shall faithfully sign and cause any third party who is beneficially related to the Pledged Equity Interests to sign all certificates and agreements in connection with the performance of the Agreement, and/or cause such third party to take any measures required by Party A and provide convenience to Party A concerning the exercise of the Pledge right hereunder.

 

 

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5.11
	
In order to ensure the interests of Party A, Party B and Party C shall abide by and perform all warranties, covenants, agreements, representations and conditions. In the event Party B and/or Party C failed to do so and resulted in damages to Party A, Party B and/or Party C shall indemnify Party A for all of such damages and losses.

 

	
6.
	
Events of Default and Exercise of the Pledge Right

 

	
 
	
6.1
	
In case of any of the following events (“Events of Default”) which shall be permitted by relevant PRC’s laws and regulations, Party A may require Party B or Party C to perform all the obligations under this Agreement and the Pledge under the Agreement may be performed immediately: 

	
 
	
a)
	
Party B or Party C violates its covenants and warranties under this Agreement, or any covenants and warranties made by Party B or Party C in this Agreement are seriously untrue;

	
 
	
b)
	
Party B, Party C violate any of its obligations or covenants and warranties under the Main Agreements, or any covenants and warranties made by Party B or Party C in the Main Agreements are seriously untrue;

	
 
	
c)
	
Any obligation of Party B or Party C under this Agreement is regarded as illegal or void;

	
 
	
d)
	
The termination of business or dissolution of Party C, or the termination of business, dissolution or bankruptcy of Party C or its Subsidiaries by any order;

	
 
	
e)
	
Party B and/or Party C are involved in any disputes, litigations, arbitrations, administrative procedures or any other legal procedures or administrative query, actions or investigations that deemed reasonably to have material adverse effect on the following events: (i) the capacity of Party B to perform its obligations under this Agreement or the Main Agreements, or (ii) the capacity of Party C to perform its obligations under this Agreement or the Main Agreements;

	
 
	
f)
	
Any other events of the disposal of the Pledged Equity Interest according to applicable laws and regulations.

 

	
 
	
6.2
	
In case of any of the aforesaid Events of Default, Party A or the third party designated by Party A may exercise its Pledge right by purchasing, designating any other party to purchase, auctioning, or selling all or part of the Pledged Equity Interests. Party A may exercise such Pledge right without exercising any other security rights, or take any other measures or proceedings or take any other action for remedies of breach of this Agreement against Party B and/or Party C any other parties.

 

	
 
	
6.3
	
Upon request by Party A, Party B and Party C shall take all the lawful and appropriate measures to ensure the exercise of the Pledge right by Party A. For such purpose, Party B and Party C shall sign all appropriate documents and materials, and take all proper measures requested by Party A.

 

 

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7.
	
Transfer or Assignment

 

	
 
	
7.1
	
Party B and Party C have no right to transfer or assign the rights and obligations under this Agreement without the prior written consent from Party A, except that Party A acquires the Pledged Equity Interests directly or indirectly according to the Exclusive Option Agreement and its amended and restated version.

 

	
 
	
7.2
	
The Agreement shall be binding upon the Party B and its successors and be effective upon Party A and its successors and assignees.

 

	
 
	
7.3
	
In the event of death, incapacity, marriage, divorce or other circumstances that may affect the exercise of Party C's equity interest held by Party B, Party B's heirs (including spouse, children, parents, siblings, grandparents, grandparents) shall be deemed to be the party to this Agreement and shall succeed to and assume all of Party B's rights and obligations under this Agreement.

 

	
 
	
7.4
	
Party A may transfer or assign all and any of its rights and obligations under the Main Agreements to any person (natural or legal person) it designates.  In this case, the assignee shall enjoy and undertake the same rights and obligations herein of Party A as if the assignee is a party hereto.  Upon Party A’s transfer or assignment of the rights and obligations under the Main Agreements and at Party A’s request, Party B and/or Party C shall execute relevant agreements and/or documents with respect to such transfer or assignment, including but not limited to executing a new equity interest agreements, the format and contents of which shall be the same with this Agreement, with the assignee.

 

	
 
	
7.5
	
Subsequent to an assignment or transfer by Party A, the new parties to the Pledge shall re-execute a pledge contract. Party B and Party C shall provide assistance to the assignee with respect to the registration procedures of the Pledge.

 

	
8.
	
Confidentiality

 

This Agreement and all clauses hereof belong to confidential information and shall not be disclosed to any third party except for high-ranking officers, directors, employees, agents or professional consultants of the Parties or their affiliates. This clause shall not apply in the event parties hereto are required by relevant laws or regulations or relevant Securities Transaction Authorities to disclose information relating to this Agreement to any governmental authorities, the public or the shareholders, or file this Agreement with relevant authorities for record.

 

This clause shall survive any modification, dissolution or termination of this Agreement.

 

	
9.
	
Liabilities for Breach of Agreement

 

9.1 In the event any Party failed to perform any of its obligations under this Agreement, or made any untrue or inaccurate representations or warranties, such Party shall be liable for all the 

 

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losses of other Parties for breach of the Agreement. This Article 9 shall not influence any other right of Party A under this Agreement.

 

9.2 This Article 9 shall survive any modification, recession or termination of this Agreement.

 

	
10.
	
Force Majeure 

 

Force Majeure means any event that cannot be anticipated at the time of the execution of the Agreement, and the occurrence of which cannot be avoided, controlled or conquered by any party of the Agreement, including but not limited to earthquake, typhoon, flood, fire, boycott, war or rebellion, etc..

 

The Party suffering such Force Majeure shall (i) notify the other parties by telegram, facsimile or other electronic means immediately after the occurrence of such Force Majeure and shall provide written documents evidencing the occurrence of such Force Majeure within fifteen (15) business days; (ii) in every instance, to the extent reasonable and lawful under the circumstances, use its best efforts to mitigate or remove the effect of such Force Majeure with all reasonable dispatch, and continue its performance of the Agreement after such effect is mitigated or removed.

 

	
11.
	
Change of Parties

 

In the event that Party B no longer possesses any shares of Party C, Party B shall be deemed no longer as a party of this Agreement. In the event that any third party becomes a shareholder of Party C, Party B and Party C shall take effort to cause such third party executing relevant legal documents and becoming one of Party B of this Agreement.

 

	
12.
	
Termination 

 

Party B and/or Party C shall not terminate this Agreement without written consent of Party A. 

 

Unless this Agreement is terminated subject to this Article 12, provided that Party B and Party C fully and completely perform all obligations under this Agreement and pay off all the secured debts, Party A shall terminate the Pledge under this Agreement as soon as reasonable as required by Party B and coordinate with Party B to deregister recording of the Pledge in the Shareholders’ Book of Party C and complete the deregistration process with administration for market regulation authorities.

 

	
13.
	
Miscellaneous 

 

13.1 Applicable Law and Dispute Resolution

 

	
 
	
13.1.1
	
Applicable Law

 

 

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This Agreement and any related matters shall be governed by and construed in accordance with the PRC laws. 

 

	
 
	
13.1.2
	
Dispute resolution

 

All disputes arising out of or in connection with this Agreement shall be conciliated friendly by and between the Parties. When the disputes could not be solved by conciliation, such disputes may be submitted to the China International Economic and Trade Arbitration Commission by any Party and shall be finally settled under the Rules of Arbitration of the China International Economic and Trade Arbitration Commission by arbitrators appointed in accordance with rules then effective of such arbitration commission. The arbitration ruling shall be final. The place of arbitration shall be in Beijing. The language used in arbitration shall be in Chinese. The Parties hereto shall continue to perform its obligations and exercise its rights hereunder except for those in dispute. The validity of this Article 13.1 shall not be influenced by the modification, rescission and termination of this Agreement.

 

	
 
	
13.2
	
Notices

 

(1) All notices and other communications required or permitted to be given under this Agreement shall be delivered personally or sent by registered mail, commercial courier service or e-mail to the address of such Party as set forth below. The dates on which such notices shall be deemed to be validly served shall be determined as follows: (i) notice sent by personal delivery, courier service or registered mail, postage prepaid, shall be deemed effectively given on the date of delivery or refusal at the address specified for notices; and (ii) notices sent by e-mail, it shall be deemed effectively given on the date of successful transmission.

 

(2) For the purposes of the notice, the addresses of the parties are as follows.

 

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Party A:.
	
 

	
Address: 
	
[***]

	
Attention: 
	
Qifeng Zhao

	
Phone: 
	
[***]

	
E-mail: 
	
[***]

	
 

	
Party B: 
	
 

	
Chang Liu
	
 

	
Address: 
	
[***]

	
Attention: 
	
Chang Liu

	
Phone: 
	
[***]

	
E-mail: 
	
[***]

	
 

	
Zhan Xie
	
 

	
Address: 
	
[***]

	
Attention: 
	
Chang Liu

	
Phone: 
	
[***]

	
E-mail: 
	
[***]

	
 

	
Party C: 
	
 

	
Address: 
	
[***]

	
Attention: 
	
Qifeng Zhao

	
Phone: 
	
[***]

	
E-mail: 
	
[***]

 

	
 
	
13.3
	
This Agreement shall become effective on the date of signature by the parties, and the parties agree and confirm that the force of this Agreement shall be retroactive to December 21, 2021. The Pledge right under this Agreement shall be established from the date it is registered with the market supervision and administration department to which Party C belongs. Unless Party A executes the Pledge right in accordance with this Agreement during the term of this Agreement, this Agreement shall terminate until all the principal contracts have been performed, lapsed or terminated or the parties have reached any written agreement on the termination of this Agreement, whichever is later.

 

	
 
	
13.4
	
Each party acknowledges that this Agreement shall be enforceable to the extent permitted by law. If any provision of this Agreement or any part of a provision is held to be illegal, invalid or unenforceable by any competent authority or court of competent jurisdiction, such illegality, invalidity or unenforceability shall not affect the other provisions of this Agreement or other parts of such provisions, which other provisions or other parts of the provisions shall remain in full force and effect, and the parties shall use their best efforts to modify such illegal, invalid or unenforceable provisions to achieve the purpose of the original provision.

 

 

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13.5
	
This Agreement shall be made in Chinese in five originals, one copy for each of Party A and Party C and one copy for each of Party B. The remaining originals shall be submitted to the relevant market supervision and administration department for record registration or retained by Party A.

 

	
 
	
13.6
	
This Agreement and its annexes constitute the entire agreement regarding the transactions under this Agreement, and this Agreement, once signed, shall supersede any prior undertakings, memoranda, agreements or any other documents between any parties in respect of the matters covered by this Agreement.

 

	
 
	
13.7
	
Any amendment or supplement to this Agreement must be in writing and must be validly signed by all parties hereto.

 

 

 

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[THE SIGNATURE PAGE]

 

Party A: Guangzhou Qixiang Technology Co., Ltd.

 

	
	
Authorized Representative: Qifeng Zhao

	
 

	
/s/ Qifeng Zhao 

	
 

	
 

	
Party B:

	
Chang Liu

	
 

	
 

	
/s/ Chang Liu

	
 

	
 

	
Zhan Xie

	
 

	
/s/ Zhan Xie

	
 

	
 

	
Party C: Beijing Qili Technology Co., Ltd.

	
 

	
Authorized Representative: Haochen Lu

	
 

	
/s/ Haochen Lu

 

 

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Appendix I  List of Main Agreements

 

1.Exclusive Option Agreement entered into by and among Guangzhou Qixiang Technology Co., Ltd., Chang Liu, Zhan Xie and Beijing Qili Technology Co., Ltd. and other relevant parties, as of March 4, 2022

 

2. Exclusive Management Service and Business Cooperation Agreement entered into by and among Guangzhou Qixiang Technology Co., Ltd., Chang Liu, Zhan Xie and Beijing Qili Technology Co., Ltd. and other relevant parties, as of March 4, 2022

 

3. "Power of Attorney" executed by Liu Chang as of March 4, 2022

 

4. "Power of Attorney" executed by Xie Zhan as of March 4, 2022

 

5. "Letter of Consent" executed by Chen Limin as of March 4, 2022

 

6. "Letter of Consent" executed by Xiao Furong as of March 4, 2022

 

 

 

 

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Appendix II  Shareholders’ Book

 

Shareholders’ Book of Beijing Qili Technology Co., Ltd.

 

				
	
Name of Shareholders
	
Amounts of Capital Contribution (RMB)
	
Proportion of Capital Contribution
	
Equity Interest Pledge

	
Chang Liu
	
990,000
	
99%
	
99% of the equity interest has been pledged to Guangzhou Qixiang Technology Co., Ltd.

	
Zhan Xie
	
10,000
	
1%
	
1% of the equity interest has been pledged to Guangzhou Qixiang Technology Co., Ltd.

 

 

 

	
	
Beijing Qili Technology Co., Ltd.

	
 

	
Authorized Representative: 

	
  Name: Haochen Lu 

	
Occupation: Legal Representative

 

 

13yq-ex413_193.htm

Exhibit 4.13

 

 

Exclusive Management Service and Business Cooperation Agreement

 

     This Exclusive Management Service Business Cooperation Agreement ("Agreement") is entered into as of March 4, 2022 by and among the following parties in Beijing, the People’s Republic of China (“PRC”):

 

Party A:Guangzhou Qixiang Technology Co., Ltd.(“Guangzhou Qixiang”), a wholly foreign-owned enterprise duly established and validly registered under the laws of the PRC, whose unified social credit code is [***] and whose registered address is D-8, Room 1903, No.13 Huaming Road, Tianhe District, Guangzhou;

 

Party B: Beijing Qili Technology Co., Ltd.(“Beijing Qili”), a company with limited liabilities duly established and validly registered under the laws of the PRC, whose unified social credit code is [***], and whose registered address is at Room 404, Floor 4, Building 7, Zone 4, Wangjing Dongyuan, Chaoyang District, Beijing;

 

All agencies invested in or controlled (including controlled by agreement arrangement) by Party B according to this Agreement from time to time (including but not limited to any company or relevant agencies in which Party B holds, directly or indirectly, more than 50% equity interest) (hereinafter collectively referred to as "Subsidiaries of Party B", each, a "Subsidiary of Party B".)

 

Part C: 

Chang Liu, PRC citizen, whose Identity Number is [***];

Zhan Xie, PRC citizen, whose Identity Number is [***];

 

(Each of Party A, Party B and Party C, a “Party”, and collectively the “Parties”.)

 

 

WHEREAS,

(1)Party A is a wholly foreign-owned enterprise duly registered and validly existing under the PRC laws, owning resources to provide technology services, technology development, technology consultation, technology exchange, technology transfer and technology promotion, retail of stationery products, sales of home appliance, integrated circuit chip design and services, wholesale of stationery products, sales of integrated circuit chips and products, sales of spare parts for home appliances parts, wholesale of computer software and hardware and auxiliary equipment, sales of integrated circuit, sales of office supplies, sales of household products, marketing planning, machining of mechanical parts and components, sales of art crafts and ceremonial supplies (except ivory and its products), information technology consulting services, sales of software, sales of power electronic components, sales of electronic special materials, retail of computer software and hardware and auxiliary equipment, information consulting services (excluding licensing information consulting services), Internet sales (except sales of goods requiring licenses), sales of furniture spare parts, import and export of goods, wholesale of publications, import and export of 

 

 

technology, retail of publications, necessary resources regarding sales of publications via Internet.

Internet information technology consulting, computer technology development and technical services, software technology services, development and construction of e-commerce platforms, training activities organization, education consulting, software development, computer technology consulting, business management consulting services, advertising design, cultural activities organization and planning, conference and exhibition services, call center business and information service business in the second type of value-added telecommunications business (Internet information services only) advertising production services, publishing services, domestic agency services.

 

(2) Party B and Subsidiaries of Party B are limited liability companies duly registered and validly existing under the PRC laws, mainly engaging in online and physical products sales and services, book publishing and other services.

 

(3) Party C is the shareholder of Party B and owns 100% of the equity interests of Party B.

 

(4) Party A agrees to use its personnel, technology and information advantages to provide Party B and Subsidiaries of Party B (including Subsidiaries of Party B as renewed from time to time during the term of this Agreement, hereinafter the same) with exclusive corporate management consulting, intellectual property licensing, technical support and business support services, and Party B and Subsidiaries of Party B accepts relevant services provided by Party A.

 

     NOW THEREFORE, the Parties through amiable negotiations agree as follows:

 

	
1.
	
Provision of Services

 

	
 
	
1.1
	
In accordance with the terms and conditions herein, Party B, Subsidiaries of Party B and Party C appoint Party A as the exclusive technical and service provider to provide full-scope corporate management consultant, intellectual property license, technical support and consultant services, the specific contents of services within the scope of business of Party B and Subsidiaries of Party B in whole or in part determined by Party A from time to time, as provided in Appendix I. Party B and Subsidiaries of Party B are as Service Accepting Party.

 

Party B and Subsidiaries of Party B shall determine the specific contents of services within the scope listed in Appendix I with Party A or any entity designated by Party A based on the actual need in their business. Both parties confirm that the services provided by Party A is confined to the approved operation scope. In the event Party B and Subsidiaries of Party B require Party A to provide services beyond the approved operation scope, Party A is entitled to or designate a third party to expand Party A’s operation scope with accordance to PRC laws, and provide such services after approval.

 

	
 
	
1.2
	
Party B, Subsidiaries of Party B and Party C further agree that during the effective period of this Agreement, Party B, Subsidiaries of Party B and Party C shall not directly and 

 

 

	
 
		
indirectly obtain the same or similar exclusive technical and services as provided under this Agreement from any third party, or establish any similar business cooperative relation with any third party with respect to the matters stipulated herein.

 

	
 
	
1.3
	
To ensure the normal operation of the ordinary business of Party B, Subsidiaries of Party B, Party A may, but not obligated to, provide guarantee for the performance of the agreements concluded by Party B or Subsidiaries of Party B with any third party with respect to the business of Party B and Subsidiaries of Party B. Party B, Subsidiaries of Party B and Party C hereby agree and confirm that if they need to provide any guarantee for the performance of any agreement or loan by Party B in the operation process, it will ask Party A as its guarantor firstly.

 

	
2.
	
Service Fee and Payment

 

	
 
	
2.1
	
Party A can refer to the specific service content and service targets, and use Party B and Subsidiaries of Party B 's income and customer volume in a specific period as a reference to determine the service price and appropriate payment method by itself. The calculation and payment of the service fee is stipulated in Appendix II of the Agreement.

 

	
 
	
2.2
	
If Party A determines the fee calculation mechanism specified herein should no longer apply due to whatever reason, Party A shall actively and faithfully render an adjustment scheme to determine a new fee standard or mechanism. If Service Accepting Party does not response within the 7 day period as mentioned above, it shall be deemed as having accepted the adjustments proposed by Party A.

 

	
3.
	
Intellectual Properties

 

	
 
	
3.1
	
Party A shall solely and exclusively own any ownership, interest and right of the intellectual properties produced by performance of this Agreement, including but not limited to copyrights, patents, claims of patent application and technical secrets, and without Party A’s consent, Party B, Subsidiaries of Party B and Party C enjoy no rights other than those provided herein. Party B shall actively assist with Party A for all necessary method to cause Party A obtains such intellectual properties. For avoidance of any doubt, any intellectual property that is in the process of filing with governmental authorities or owned by the Party B or Subsidiaries of Party B shall be transferred by the beneficial owner or the applicant of such intellectual property to Party A or its affiliate as required by Party A, and Party B and/or Subsidiaries of Party B shall execute transfer agreement for such intellectual property except the intellectual properties that are necessary for Party B or its subsidiaries in ordinary business or shall be held by Party B or Subsidiaries of Party B according to relevant PRC laws and regulations. 

 

	
 
	
3.2
	
However, if the development is based on the intellectual properties owned by Party B or Subsidiaries of Party B, such intellectual properties should be flawless. Otherwise Party B and Subsidiaries of Party B shall bear all damages and losses caused to Party A by any 

 

 

	
 
		
flaw of such intellectual properties. If Party A is to bear any liabilities to any third party because of this, it has the right to recover all of its losses from Party B and Subsidiaries of Party B.

 

	
 
	
3.3
	
This Article 3 of this Agreement shall survive any modification, dissolution or termination of this Agreement.

 

	
4.
	
Exercise of Party A’s rights

In view of Article 1 in this Agreement, in order to specify respective rights and obligations of each Party, to ensure Party A’s actual performance in providing management services to Party B and Subsidiaries of Party B according to this Agreement, and to ensure the implement of business services between Party A, Party B and Subsidiaries of Party B and the payment of the amounts that shall be paid by Party B and Subsidiaries of Party B to Party A, Party B, Subsidiaries of Party B and Party C agree the followings:

 

	
 
	
4.1
	
Party A is entitled to provide suggestions and requirements with respect to the operation of Party B and Subsidiaries of Party B, financial management and employment, and Party B and Subsidiaries of Party B shall strictly perform or abide by such suggestions or requirements.

 

	
 
	
4.2
	
Party C, Party B and Subsidiaries of Party B will elect the person designated by Party A to be the director of Party B and Subsidiaries of Party B in accordance with the procedures stipulated by laws, regulations and the company's articles of association, cause such elected directors to elect the person recommended by Party B and Subsidiaries of Party B as the chairman of the board of directors , and appoint the persons designated by Party A as senior managers of Party B and Subsidiaries of Party B, including but not limited to the manager, the chief financial officer, the responsible officers of each branch of business, financial managers, financial superintendents and accountants.

 

	
 
	
4.3
	
Party C, Party B and Subsidiaries of Party B shall dismiss any director and/or senior manager of Party B in accordance with the requirement of Party A, and elect and engage others as Party A designates.

 

	
 
	
4.4
	
On the purpose of Article 4.3, Party C, Party B and Subsidiaries of Party B shall conduct necessary internal and external procedures in accordance with law, Articles of Association and this Agreement to complete such dismiss and engagement procedures.

 

	
 
	
4.5
	
Party A is entitled to check accounts of Party B and Subsidiaries of Party B termly and momently. Party B and Subsidiaries of Party B shall keep accounts timely and accurately, and provide accounts, audit reports, financial statements and any operation records, business contracts, financial materials as Party A requires. During the effective period of this Agreement,Party B and Subsidiaries of Party B shall assist Party A and any third party designated by Party A to conduct audit (including but not limited to audit of affiliated transactions and any other audits), provide information and materials with 

 

 

	
 
		
respect to the operation, business, clients, finance and employees of Party B and Subsidiaries of Party B, and permit Party A to disclose such information and materials for securities supervision.

 

	
 
	
4.6
	
Party C hereby agrees that upon it executes this Agreement, it shall execute a Power of Attorney the form and substance of which shall be satisfied by Party A, and shall comprehensively, appropriately, and completely perform the obligation under such Power of Attorney, including but not limited to unconditionally and irrevocably authorize Party A or the party designated by Party A (“Trustee”, and Party C shall not be such Trustee) to exercise the rights of shareholders and/or board of Party B as Party C’s agent according to the Trustee’s own will.

 

	
 
	
4.7
	
Party C confirms that upon it executes this Agreement, it has comprehensively and clearly understood Party B and its subsidiaries’ obligations hereunder, and that it is willing to pledge the equity interest of Party B and Subsidiaries of Party B it owns (collectively 100% equity interest of Party B) to Party A, as a security for the performance of the obligations of Party B and Subsidiaries of Party B under this Agreement. Each Party will separately execute the agreements for equity interest pledge.

 

	
 
	
4.8
	
Upon Party A’s requests in writing, Party B, Subsidiaries of Party B and Party C shall set all accounts receivable and/or other legal assets which could be disposed as collaterals for the performance of obligations of service fee payment in Article 2.1 under this Agreement. During the effective period of this Agreement, Party B and Subsidiaries of Party B shall maintain completed licenses necessary for its business operation and the right and capacity to conduct relevant business within Chinese territory.

 

	
 
	
4.9
	
In the event Party B and Subsidiaries of Party B conducts the dissolution or the liquidation for whatever reasons, Party C, Party B and Subsidiaries of Party B shall assign personnel recommended by Party A as liquidators permitted by PRC laws and regulations to manage the property of Party B and Subsidiaries of Party B. In the event Party B and Subsidiaries of Party B conducts the dissolution or the liquidation, no matter Article 4.9 can be enforced or not and subject to the restriction under PRC law, Party C, Party B and Subsidiaries of Party B shall respectively deliver all the property obtained from the liquidation of Party B under PRC laws and regulations to Party A.

 

	
 
	
4.10
	
Without Party A’ prior written consent, Party B and Subsidiaries of Party B shall not conduct any transaction that may have substantial effect on the assets, obligations, rights or operation, including but not limited to the followings:

	
 
	
a)
	
conducting any business beyond the scope of normal operation or in the way different from prior usual manners;

	
 
	
b)
	
raising a loan or undertaking any debts;

	
 
	
c)
	
changing or removing any director or any senior manager;

	
 
	
d)
	
selling, purchasing or disposing any asset or interest in any manner to any third, including but not limited to intellectual properties;

 

 

	
 
	
e)
	
setting corporate assets or intellectual properties as collaterals, providing warranties in any other ways, or setting any other encumbrances on corporate properties for the debts not belonging to Party B and Subsidiaries of Party B;

	
 
	
f)
	
modifying the Articles of Association or the scope of operation;

	
 
	
g)
	
modifying corporate operation modes, business procedures or any significant internal regulations;

	
 
	
h)
	
making significant adjustment on business modes, marketing strategies, operation tactics or client relationship;

	
 
	
i)
	
distributing profits and dividend in any manner;

	
 
	
j)
	
conducting liquidation and distributing residual properties;

	
 
	
k)
	
transferring or assigning rights and obligations hereunder to any third party;

	
 
	
l)
	
executing any agreement or enter into any arrangement colliding with or damages Party A’s rights and interests in this Agreement with any third party;

	
 
	
m)
	
engaging in any arrangement of contractual operation, leasing management, merger, division, join venture, shareholding reform or other method to change the method of operation and equity structure, or sell, transfer, convert to equity interest and any other manners to dispose any or all asset or equity interest of Party B or Subsidiaries of Party B. 

Furthermore, Party B, Subsidiaries of Party B and Party C shall cause Party B notify Party A timely when there is or may be any significant adverse effect on business and operation of Party B and Subsidiaries of Party B and do their best to prevent the occurrence of such issues and/or the expansion of damages.

	
 
	
4.11
	
Party B and Subsidiaries of Party B hereby grants to Party A an irrevocable and exclusive a Purchase Right which subject to the PRC laws allows Party A to purchase, at its option, any or all of assets (including all interests held by Party B or Subsidiaries of Party B in their subsidiaries) and business of Party B and Subsidiaries of Party B with the lowest price as permitted under the PRC laws. If the aforementioned lowest price as permitted under PRC law is not zero consideration, Party B and Subsidiaries of Party B further agree to give the full transfer price to Party A or the party designated by Party A, as requested by Party A. Parties shall execute the agreement for such transfer of assets and business and determined the terms and conditions for such transfer of assets and business.

 

	
5.
	
Term and Right of Termination

 

	
 
	
5.1
	
The Agreement is executed and becomes effective as of the date stated above. The Parties hereby agree and confirm that the force of this Agreement shall be retroactive to December 21, 2021.

 

	
 
	
5.2
	
Unless all Parties reach an agreement to terminate this Agreement earlier, the term of this Agreement shall be effective during the business operation period of Party A, Party B.

 

	
 
	
5.3
	
Party A shall have the option right to terminate this Agreement at any time. During the exercise of this Agreement, Party A is entitled to terminate this Agreement with written notice at any time.

 

 

 

	
 
	
5.4
	
Without Party A’s written consent, Party B, Subsidiaries of Party B and/or Party C have no right to terminate this Agreement.

 

	
6.
	
Representations and Warranties

 

	
 
	
6.1
	
Party A represents and warrants to Party B and Subsidiaries of Party B as follows:

	
 
	
a)
	
Party A is a wholly foreign-owned enterprise duly registered and validly existing under the PRC laws, and has the capacity to take responsibilities;

	
 
	
b)
	
Party A has the corporate power to execute and deliver this Agreement and perform the obligations under this Agreement. Once this Agreement is executed, Party A assumes legal, effective and binding obligations and such obligations may be enforced compulsory according to this Agreement;

	
 
	
c)
	
Either the execution of this Agreement or the performance of obligations under this Agreement by Party A shall not conflict with, breach or violate (i) any operation license of Party A or any article of Party A’s Articles of Association, (ii) any law, regulation, rule, authorities or approval of government authorities or departments applied to Party A, or (iii) any article of contracts or agreements executed by Party A.

 

	
 
	
6.2
	
Party B and Subsidiaries of Party B makes the following statements and warranties to Party A:

	
 
	
a)
	
Party B and Subsidiaries of Party B are limited liability companies duly registered and validly existing under the PRC laws, and have the capacity to take responsibilities with their registered capital;

	
 
	
b)
	
Party B and Subsidiaries of Party B has the corporate power to execute and deliver this Agreement and perform the obligations under this Agreement. Once this Agreement is executed, Party B and Subsidiaries of Party B assumes legal, effective and binding obligations and such obligations may be enforced compulsory according to this Agreement;

	
 
	
c)
	
Either the execution of this Agreement or the performance of obligations under this Agreement by Party B or Subsidiaries of Party B shall not conflict with, breach or violate (i) any operation license of Party B or Subsidiaries of Party B or any article of their Articles of Association, (ii) any law, regulation, rule, authorities or approval of government authorities or departments applied to Party B or Subsidiaries of Party B, or (iii) any article of contracts or agreements executed by Party B or Subsidiaries of Party B;

	
 
	
d)
	
Party B and Subsidiaries of Party B shall provide relevant information and documents to Party A as Party A requires, and arrange special personnel to correspond and coordinate with Party A and provide assistance with research and collection of materials in Party B and Subsidiaries of Party B;

	
 
	
e)
	
If necessary, Party B and Subsidiaries of Party B shall provide requisite working facilities and conditions to Party A, and bear related expanse and costs during the period that such personnel provide management service in Party B and Subsidiaries 

 

 

	
 
		
of Party B;

	
 
	
f)
	
Develop and operate relevant information service in effective, prudent and legal manners, and maintain and renew in time requisite licenses and authorities of relevant information service under this Agreement provided by Party B and Subsidiaries of Party B to keep the effective and entire validity of such licenses and authorities; establish and maintain an independent accounting for relevant information service;

	
 
	
g)
	
Provide Party A with any requisite technology or other materials deemed necessary by Party A, and provide Party A with the access to requisite places and facilities for service under this Agreement.;

	
 
	
h)
	
Party B and Subsidiaries of Party B shall operate in accordance with relevant laws and regulations, conduct entire relevant procedure necessary for operation, and provide duplicates of such licenses;

	
 
	
i)
	
Party B and Subsidiaries of Party B possesses all permissions, licenses, authorities, approvals and facilities, and guarantee such permissions, licenses, authorities and approvals are continually effective and legitimate during the whole effective period of this Agreement;

	
 
	
j)
	
Pay the service fee to Party A on time.

 

	
7.
	
Confidentiality

 

	
 
	
7.1
	
This Agreement and all clauses hereof belong to confidential information and shall not be disclosed to any third party except for relevant high-ranking officers, directors, employees, agents or professional consultants of such parties or affiliates who are relevant with the transaction contemplated under this Agreement and who are obligated to keep such confidential information confidential. This clause shall not apply in the event parties hereto are required by relevant laws or regulations or relevant securities exchange institutions to disclose information or contents relating to this Agreement to any governmental authorities, the public or the shareholders, or file this Agreement with relevant authorities for record.

 

	
 
	
7.2
	
This clause shall survive any modification or termination of this Agreement.

 

	
8.
	
Liabilities for Breach of Agreement

 

	
 
	
8.1
	
In the event any Party failed to perform any of its obligations under this Agreement, or made any untrue or inaccurate representation or warranty, such Party shall be liable for all the losses of other Parties for breach of the Agreement, or pay the penalties to the other Parties as agreed by the relevant Parties.

 

	
 
	
8.2
	
In the event that Party B or Subsidiaries of Party B is deemed as breach of the Agreement in accordance with Article 8.1, Party B and Subsidiaries of Party B shall compensate for entire loses, damages or responsibilities of Party A for the execution of this Agreement, including but not limited to damages and costs caused by any suits, claims of 

 

 

	
 
		
compensation, or other requests.

 

	
 
	
8.3
	
This clause shall survive any modification or termination of this Agreement.

 

 

	
9.
	
Force Majeure 

 

Force Majeure Event shall mean any objective circumstance, the occurrence of which is unforeseeable, unavoidable, uncontrollable and insurmountable at the time of execution of this Agreement (including but not limited to earthquake, typhoon, flood, fire, strike, war, and rebellion).

 

In the event the performance of the Agreement is influenced by any Force Majeure, the Party suffering Force Majeure shall (i) notify the other parties by telegram, facsimile or other electronic means immediately after the occurrence of such Force Majeure and shall provide written documents evidencing the occurrence of such Force Majeure within fifteen (15) business days; (ii) take all reasonable and viable manners to mitigate or remove the effect of force majeure, and continue its performance of the Agreement after such effect is mitigated or removed.

 

	
10.
	
Assignment of this Agreement and the Change of Parties

 

	
 
	
10.1
	
Without prior written consent of Party A, Party C, Party B and Subsidiaries of Party B shall not transfer, assign any right or obligation under this Agreement to any third party, except that Party A acquires the equity interest of Party B directly or indirectly according to the Exclusive Option Agreement.

	
 
	
10.2
	
Part B and Subsidiaries of Party B hereby agrees that Party A shall have right to transfer or assign any of its rights and obligations without prior consent of Party B or its subsidiaries by informing written notice to Party B and its subsidiaries at the transfer or assignment.  

	
 
	
10.3
	
Increase of Subsidiaries of Party B. If, at any time after the effective date of this agreement, any institutions invested and controlled (including control through agreement arrangements) by Party B are added (including but not limited to companies, partnership enterprises and other organizational forms in which Party B directly or indirectly hold more than 50% of the investment equity, hereinafter referred to as "Party B's Subordinate Institutions"), Party B and Party C shall cause such new subsidiary to sign confirmation letter of which the format and contents of Right and Obligation Assumption Letter listed in Appendix III or other legal documents permitted or required by the PRC laws to make such new subsidiary to enjoy and undertake all the rights and obligations under this Agreement as those of Subsidiaries of Party B hereunder. As of the date of signature of such Right and Obligation Assumption Letter or other legal documents, the new subsidiary should be deemed as one party to this Agreement. Other Parties of the Agreement hereby agree with such arrangements.

 

 

 

 

	
 
	
10.4
	
Rights and obligations under this Agreement shall be legally binding upon assignees, successors of Parties hereof, no matter such assignment of obligations and rights is caused by takeover, restructuring, success, assignment or any other reason.

 

	
 
	
10.5
	
In the event of death, incapacity, marriage, divorce or other circumstances that may affect the exercise of Party B's equity interest held by Party C, the successors of Party C (including spouse, children, parents, siblings, grandparents, grandparents) shall be deemed to be a party to this Agreement and shall succeed to and assume all of Party C's rights and obligations under this Agreement.

 

	
 
	
10.6
	
In the event that Party C no longer possesses any shares of Party B, Party C shall be deemed no longer as a party of this Agreement. In the event that any other third party becomes a shareholder of Party B, Party B and Party C shall take effort to cause this third party executing relevant legal documents and becoming one of Party C of this Agreement. If, with consent of Part A’, any Subsidiary which is dissolved or ceases to be under their control, it shall automatically be deemed no longer as a party to this Agreement.

 

	
11.
	
Miscellaneous 

 

	
 
	
11.1
	
Applicable Law and Dispute Resolution

 

	
 
	
11.1.1
	
Applicable Law

 

The laws of the People's Republic of China shall apply to the signing, entry into force, interpretation, performance, amendment and termination of this Agreement and the settlement of disputes under this Agreement.

 

11.1.2Dispute resolution

 

All disputes arising out of or in connection with this Agreement shall be conciliated friendly by and between the Parties. When the disputes could not be solved by conciliation, such disputes may be submitted to the China International Economic and Trade Arbitration Commission by any Party and shall be finally settled under the Rules of Arbitration of the China International Economic and Trade Arbitration Commission by arbitrators appointed in accordance with rules then effective of such arbitration commission. The arbitration ruling shall be final. The place of arbitration shall be in Beijing. The language used in arbitration shall be in Chinese. The Parties hereto shall continue to perform its obligations and exercise its rights hereunder except for those in dispute. The validity of this Article 11.1 shall not be influenced by the modification, rescission and termination of this Agreement.

 

	
 
	
11.2
	
Notices

 

(1) All notices and other communications required or permitted to be given under this 

 

 

Agreement shall be delivered by hand or sent by postage prepaid registered mail, commercial courier service or e-mail to the address of such party as set forth below. The date on which such notices shall be deemed to be validly served shall be determined as follows: (i) if the notice is sent by personal delivery, courier service or postage prepaid registered mail, it shall be deemed to be validly served on the date of delivery or rejection at the address designated for receipt of the notice; and (ii) if the notice is sent by electronic mail, it shall be deemed to be validly served at the time it is successfully sent.

 

(2) For the purposes of the notice, the addresses of the parties are as follows.

 

		
	
Party A:.
	
 

	
Address:
	
[***]

	
Attention:
	
Qifeng Zhao

	
Phone:
	
[***]

	
E-mail:
	
[***]

 

		
	
Party B and Subsidiaries of Party B:

	
Address:
	
[***]

	
Attention:
	
Qifeng Zhao

	
Phone:
	
[***]

	
E-mail:
	
[***]

 

		
	
Party C:
	
 

	
Chang Liu
	
 

	
Address:
	
[***]

	
Attention:
	
Chang Liu

	
Phone:
	
[***]

	
E-mail:
	
[***]

 

		
	
Zhan Xie
	
 

	
Address:
	
[***]

	
Attention:
	
Chang Liu

	
Phone:
	
[***]

	
E-mail:
	
[***]

 

	
 
	
11.3
	
Each party acknowledges that this Agreement shall be enforceable to the extent permitted by law. If any provision of this Agreement or any part of a provision is held to be illegal, invalid or unenforceable by any competent authority or court of competent jurisdiction, such illegality, invalidity or unenforceability shall not affect the other provisions of this Agreement or other parts of such provisions, which shall remain in full force and effect, and the parties shall use their best efforts to modify such illegal, invalid or unenforceable provision to achieve the purpose of the original provision.

 

	
 
	
11.4
	
Appendixes constitute an integral part of this Agreement and shall have the same legal effect as the other parts of this Agreement.

 

 

	
 
		

 

	
 
	
11.5
	
This Agreement shall be written in Chinese. The Agreement is executed in four (4) counterparts, Party A and Party B hold one copy, and both Party C each hold one copy.

 

 

 

 

 

 

 

[THE SIGNATURE PAGE OF THE EXCLUSIVE MANAGEMENT SERVICE AND BUSINESS COOPERATION AGREEMENT]

 

Party A:Guangzhou Qixiang Technology Co., Ltd.

 

Authorized Representative: Qifeng Zhao

 

/s/ Qifeng Zhao ________________________

 

 

Party B:Beijing Qili Technology Co., Ltd.

 

Authorized Representative: Haochen Lu

 

 

/s/ Haochen Lu________________________

 

 

 

 

  

 

 [THE SIGNATURE PAGE OF THE EXCLUSIVE MANAGEMENT SERVICE AND BUSINESS COOPERATION AGREEMENT]

 

 

Party C: 

 

Chang Liu

 

 

/s/ Chang Liu________________________

 

 

Zhan Xie

 

/s/ Zhan Xie ________________________

 

 

 

 

 

 

 

 

 

 

Appendix I: Contents of Service

 

	
(1)
	
Providing opinions and advises for the assets, business operation and negotiation, execution and performance of material contracts;

	
(2)
	
Providing services for proposing middle or short term development of market, market planning;

	
(3)
	
Providing service of market research, study and consulting service;

	
(4)
	
Providing the opinions and advises for handling the creditor rights and debts;

	
(5)
	
Providing the opinions and advices for merger and acquisition;

	
(6)
	
Providing services for human resources management, occupation and pre-occupation skills training for employees;

	
(7)
	
Licensing of intellectual properties (if there is) such as software, trademark, domain name, technology secrets, etc., 

	
(8)
	
Providing services for developing and supporting Information Service Software;

	
(9)
	
Providing services of technology development, technology transfer, and technology consulting;

	
(10)
	
Providing services for management and maintenance for the human resources information management system, payment management information system, internal informatization management system and other management system;

	
(11)
	
Providing services for developing, upgrading of network and the ordinary maintenance, supervision, adjustment and trouble removal of computer network equipment;

	
(12)
	
Providing technology consultation and solution for the questions about network facilities, technology products and software;

	
(13)
	
Providing services for public relationship;

	
(14)
	
Providing daily maintenance services for office equipment;

	
(15)
	
Providing services for seeking and electing appropriate third-party service providers for Service Accepting Party;

	
(16)
	
Providing third-party service providers for the Service Accepting Party in ordinary management;

	
(17)
	
Providing consulting service regarding the overseas market for Service Accepting Party; and/or

	
(18)
	
Other services determined from time to time by Party A and the Service Accepting Party according to the need of business and capacity of provision of services.

 

 

 

 

Appendix II: Calculation and Payment of the Service Fee

 

	
1.
	
The Fee for the services provided under this Agreement is calculated as the balance of general income deducting costs, taxes and other reserved fees stipulated by laws and regulations, the sum of Fee shall be determined by Party A in its discretion taking account of the following factors:

 

	
 
	
(1)
	
The technical difficulty and complexity of the services;

	
 
	
(2)
	
The resources spending by Party A and the time spent by employs of Party A concerning the services;

	
 
	
(3)
	
The contents and commercial value of the services;

	
 
	
(4)
	
The benchmark price of similar services in the market;

	
 
	
(5)
	
The operation performance of Service Accepting Party.

 

	
2.
	
Party A will calculate the fee payable on a fixed term (determined by Party A and Service Accepting Party shall agree such decision) basis and send Service Accepting Party the bill of service fee for the previous term. Service Accepting Party shall pay the fee to the bank account designated by Party A within 10 business days after receipt of the bill, and send copy of the remittance certificate by facsimile or mail to Party A within 10 business days after payment.

 

	
3.
	
In addition to the service fee, Service Accepting Party shall bear any and all reasonable cost, advance payment and out-of-pocket expense in any kind (“Expense”) for Party A resulted from or relevant to the performing or providing services and shall reimburse Party A all Expenses. 

 

	
4.
	
Service Accepting Party shall pay to the Party A the service fees and shall reimburse all Expenses according to this Agreement and its supplemental agreements executed from time to time. Party A shall provide to the Service Accepting Party all the official receipts of the service fees and Expense in time. All payment made by Service Accepting Party to Party A shall pay via method of remittance or other methods as agreed by both Parties to the bank account designated by Party A. Both Parties Agreed that Party A may change the direction of payment from time to time by deliver notice to Service Accepting Party. 

 

 

 

 

 

Appendix III: Right and Obligation Assumption Letter

 

This entity,           , is the subsidiary of Beijing Qili Technology Co., Ltd. (“Beijing Qili”), established and registered on              (date).The Beijing Qili possesses   % of this entity’s share.

 

In accordance with Exclusive Management Service and Business Cooperation Agreement (“Agreement”) entered into by and between Beijing Qili, Guangzhou Qixiang and other relevant parties, this entity shall join the Agreement according to Article 10.3 of the Agreement as the new subsidiary of Party B under this Agreement.

 

This entity agrees to join the Agreement as a new Subsidiary of the Beijing Qili, enjoy rights under the Agreement, and perform obligations the Agreement. This Assumption Letter came into effect upon the date of execution.

 

 

 

 

[          ]

Signature of Legal Representative:            

Date:

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