Document:

Exhibit 10.1

 

DATE: 25 August, 2021

 

HAINAN QICHENG ASSET MANAGEMENT JOINT STOCK
COMPANY

 

and

 

TEMIR LOGISTICS INDUSTRIAL PARK LIMITED

 

and

 

TEMIR CORP.

 

 

 

SPA TERMINATION AGREEMENT

 

 

 

     

     

    

 

THIS AGREEMENT is made on 25 August 2021

 

AMONG

 

		(1)	HAINAN QICHENG ASSET MANAGEMENT JOINT STOCK COMPANY, a company incorporated in the People’s
Republic of China and having its registered office at 1007, Nan Yang Building, Bin Hai Road, Long Hua District, Hai Kou City, Hai Nan
Province, PRC (the “Vendor”);

 

		(2)	TEMIR LOGISTICS INDUSTRIAL PARK LIMITED, a company incorporated in Hong Kong and having its registered
office at Suite 1802-03, 18/F, Strand 50, 50 Bonham Strand, Sheung Wan, Hong Kong (the “Purchaser”); and

 

		(3)	TEMIR CORP., a company incorporated in the State of Nevada and having its correspondence address
in Hong Kong at Suite 1802-03, 18/F, Strand 50, 50 Bonham Strand, Sheung Wan, Hong Kong (“TMRR”).

 

In this Agreement, the Vendor, the Purchaser and
TMRR is referred to as individually, a “Party”, and collectively, the “Parties”.

 

WHEREAS:

 

		(A)	The Vendor, the Purchaser and TMRR have entered into the sale and purchase agreement dated May 20, 2021
in relation to 147,777,800,000 VND registered share capital of Bac Giang International Logistics Co., Ltd. (the “Sale and Purchase
Agreement”).

 

		(B)	Each of the Parties intends to terminate all of the rights and obligations under the Sale and Purchase
Agreement.

 

		(C)	The terms used but not defined in this Agreement shall have the meaning ascribed to it in the Sale and
Purchase Agreement.

 

    2 

     

    

 

NOW, THEREFORE, the Parties agree as follows:

 

		1.	Termination of Rights and Obligations under the Sale and Purchase
Agreement

 

 

		1.1	All Parties mutually agree that the effect and force of the Sale and Purchase Agreement shall be terminated
as of the date hereof, and the rights and obligations of each of the Parties therein shall be simultaneously terminated.

 

		1.2	If any Party is held liable for any damages due to its breach of any term of the Sale and Purchase Agreement
prior to the date hereof, the other Parties agree to waive such liability and not to hold the breach Party liable therefor.

 

		2.	Representations
and Warranties

 

		2.1	Each of the Parties represents and warrants to the other Parties
as follows:

 

		(1)	It has the power and ability to enter into, deliver and perform this Agreement, and has taken all necessary
action to authorize its entry into, performance and delivery of this Agreement;

 

		(2)	This Agreement to which the Parties, upon execution, shall constitute its legal, valid and binding obligation,
and shall be enforceable against them pursuant to the terms hereof; and

 

		(3)	Its execution, delivery and performance of this Agreement will not conflict with, restrict or breach any
law, regulation or agreement to which it is subject or a party.

 

		2.2	It shall make its best reasonable endeavour to prepare or provide any required assistance for any governmental
procedure arising from or in connection with the termination of the Sale and Purchase Agreement, including but not limited to the procedures
with the cancellation of 930,233 issued shares of TMRR.

 

		3.	Cancellation of 930,233 TMRR Shares

 

		3.1	Each of the Parties agree to cancel the 930,233 TMRR Shares issued to the Vendor (or its nominee, Mr.
Zhang Zhengming, where applicable) with immediate effect. The Vendor agrees to return the Certificate Number 153 issued on June 8, 2021
to TMRR.

 

		3.2	As at the date hereof:

 

		(i)	the Sale Shares of the Company held by the Vendor are not transferred to TMRR; and

 

		(ii)	TMRR does not create a charge over the land (as set out in Clause 4A.1 of the Sale and Purchase Agreement)
held by the Company,

 

TMRR is not obliged
to pay any amount to the Vendor pursuant to this Agreement.

 

		3.3	Completion of the cancellation of 930,233 TMRR Shares shall take place within two (2) months after the
signing of this Agreement.

 

    3 

     

    

 

		4.	Notice

 

		4.1	Each notice, demand or other communication given, made or serve under this Agreement shall be in writing
and delivered or sent to the relevant party by prepaid postage (by airmail if to another country), email or personal delivery to its address
as set out below (or such other address as the addressee has by five (5) days’ prior written notice specified to the other parties):

 

	 	To the Vendor:	Hainan Qicheng Asset Management Joint Stock Company
	 	 	 
	 	 	Address:	
    Room 1007, Nan Yang Building, Bin Hai

    Road, Long Hua District, Hai Kou City, Hai

    Nan Province, PRC

	 	 	Attention:	The Board of Directors
	 	 	Email:	 
	 	 	 
	 	To the Purchaser:	Temir Logistics Industrial Park Limited
	 	 	 
	 	 	Address:	Suites 1802-03, 18/F, Strand 50, 50 Bonham Strand, Sheung Wan, Hong Kong
	 	 	Attention:	The Board of Directors
	 	 	Email:	rchan@jtifs.com.hk

 

		4.2	Each notice, demand or other communication given, made or serve under this Agreement shall be deemed to
have been given and received by the relevant parties (i) within two (2) days after the date of posting, if sent by local mail; four (4)
days after the date of posting, if sent by airmail; (ii) when delivered, if delivered by hand; and (iii) on despatch, if sent by email.

 

		5.	Confidentiality

 

Each of the Parties acknowledges and
confirms that the contents of this Agreement and any oral or written information communicated among the Parties regarding this Agreement
shall be confidential. Each of the Parties shall keep such information in confidence and may not disclose it to any third party without
prior written consent from the other Parties, except for any information that is (a) known or to be known by the general public without
unauthorized disclosure by the receiving Party; (b) required to be disclosed under applicable laws or regulations or court orders or requirements
by Securities and Exchange Commission or stock exchange; or (c) disclosed by any Party to its legal or financial advisor in connection
with the transaction contemplated hereunder, provided that such legal or financial advisor is subject to confidentiality obligation similar
to this Clause 5. Unauthorized disclosure by any Party’s employee or service provider shall be deemed disclosure by such Party for
which it shall be held liable. This Clause 5 shall survive termination of this Agreement for any cause.

 

    4 

     

    

 

		6.	Costs and Expenses

 

Each Party shall be responsible for
its own tax, legal and other costs and expenses in connection with the negotiation, preparation, execution and implementation of this
Agreement.

 

		7.	Governing Law and Dispute Resolution

 

This Agreement shall be governed by
and construed in accordance with the laws of Hong Kong and the parties irrevocably submit to the non-exclusive jurisdiction of the Hong
Kong courts.

 

		8.	Entire Agreement

 

This Agreement constitutes the entire
agreement and understanding between the Parties in respect of the subject matter of this Agreement. This Agreement supersedes in all respects
all previous agreements, representations, warranties and undertakings made by the Parties with respect to the subject matter hereof, whether
such be written or oral.

 

		9.	Variation

 

Any provision of this Agreement may
be amended or waived if, and only if, such amendment or waiver is in writing and signed, in the case of any amendment, by the Parties,
or in the case of a waiver, by the Party against whom the waiver is to be effective.

 

		10.	Severability

 

Each provision contained in each clause
and sub-clause will be enforceable independently of each of the others, and its validity will not be affected if any of the others is
invalid. If any of those provisions is void but would be valid if some part of the provision were deleted, the provision in question will
apply with such modification as may be necessary to make it valid.

 

		11.	Waiver and other rights

 

		11.1	A waiver of any term, provision or condition of this Agreement shall be effective only if given in writing
and signed by the waiving Party and then only in the instance and for the purposes for which it is given.

 

		11.2	No failure or delay on the part of any Party in exercising any right, power or privilege under this Agreement
shall operate as a waiver of it, nor shall any single or partial exercise of any such right, power or privilege preclude any other or
further exercise of it or the exercise of any other right, power or privilege.

 

    5 

     

    

 

IN WITNESS whereof the parties entered
into this Agreement the day and year first above written.

 

	THE VENDOR	 	 
	 	 	 
	SIGNED by Song Liwei	)	 
	 	)	 
	for and on behalf of	)	 
	 	)	 
	HAINAN QICHENG ASSET MANAGEMENT	)	 
	JOINT STOCK COMPANY	)	 
	 	)	 
	in the presence of:	)	 
	 	 	 
	THE PURCHASER	 	 
	 	 	 
	SIGNED by Chan Kong Hoi	)	 
	 	)	 
	for and on behalf of	)	 
	 	)	 
	TEMIR LOGISTICS INDUSTRIAL	)	 
	PARK LIMITED	)	 
	 	)	 
	in the presence of:	)	 
	 	 	 
	TMRR	 	 
	 	 	 
	SIGNED by Chan Kong Hoi	)	 
	 	)	 
	for and on behalf of	)	 
	 	)	 
	TEMIR CORP.	)	 
	 	)	 
	in the presence of:	)	 

 

 

6Exhibit 10.1

 

LOAN AGREEMENT

 

This Loan Agreement (this
“Agreement”) is entered into by and between UPD Holding Corp., a Nevada corporation (“Borrower”),
and Corey Shader, a resident of the State of Florida (“Lender”), as of August 19, 2021 (the “Effective
Date”). Each of Borrower and Lender may be referred to hereinafter as a “Party” or, collectively, as the
“Parties”.

 

1.       Principal
Sum. Lender agrees to loan and pay unto Borrower the principal sum of Five Hundred Thousand Dollars ($500,000) (the “Principal
Sum”).

 

2.       Issue
Date. Lender agrees to transmit and deliver the full amount of the Principal Sum to Borrower by wire transfer on or about August 19,
2021 (the “Issue Date”).

 

3.       Maturity
Date. Borrower agrees to repay Lender the Principal Sum and all unpaid interest accrued thereon on or before the maturity date of
August 19, 2022 (the “Maturity Date”) pursuant to the Promissory Note attached hereto as Exhibit A.

 

4.       Interest.
Interest payable hereunder through and including the Maturity Date will accrue at a simple interest rate equal to Twelve Percent
(12.0%) per annum, calculated on the basis of a 365-day year and actual days elapsed.

 

5.       Limitations.
In no event will any interest payable hereunder be compounded or exceed the maximum rate or amount permitted by applicable law. Any interest
that may accrue following a default of any obligation of Borrower pursuant to this Agreement will be payable at the interest rate set
forth in Paragraph 4 above.

 

6.       Payments.
Interest payments will be due and payable in arrears and made on the first day of each calendar month, beginning on the one-month anniversary
of the Issue Date. Any interest payment paid by Borrower more than five (5) days after the due date will be deemed late and constitute
a breach of this Agreement.

 

7.       Prepayments.
The Principal Sum and any accrued but unpaid Interest due and owing to Lender pursuant to this Agreement may be prepaid, in whole or in
part, at any time prior to the Maturity Date, without penalty.

 

8.       Guaranty.
The following individuals, Samuel Philip Kesaris and Gary Plichta, will guarantee this Loan Agreement and the Promissory Note pursuant
to each Guaranty attached hereto as Exhibit B and Exhibit C.

 

9.       Additional
Consideration. As additional consideration and further inducement for Lender to enter into this Agreement and make a loan of the Principal
Sum, Borrower has agreed to pay and issue unto Lender One Million (1,000,000) warrants (the “Warrants”)
that are exercisable for conversion into One Million (1,000,000) shares (the “Shares”) of Borrower’s
common stock, $0.005 par value, at an exercise price of $0.005 per share (the “Exercise Price”).

 

10.       Warrants
Issuance. Contemporaneously with the execution of this Agreement and subject to Borrower’s transfer agent protocols, Borrower
will issue, sell, convey, transfer, and deliver to Lender a Warrant to Purchase Shares in the name of Borrower representing the entirety
of the Warrants attached hereto as Exhibit D.

 

    	 	Page
                                            1 of 5	 

    	 

    

	Loan Agreement	August 19, 2021

 

 

11.       Representations
and Warranties of Borrower. Borrower hereby represents and warrants to Lender as of the Issue Date as follows:

 

a.       Authority
to Contract. Borrower has full legal power and authority to issue, execute, deliver, and perform its obligations under this Agreement,
and this Agreement constitutes a legal, valid, and binding obligation of Borrower enforceable against it in accordance with its terms.

 

b.       Other
Agreements. Borrower is not a party to any agreement, written or oral, creating rights of any third party in respect of this Agreement.

 

c.       Brokers.
No broker, finder, or investment banker is entitled to any brokerage, finders, or other fee or commission in connection with the transactions
contemplated by this Agreement, based upon arrangements made by or on behalf of Borrower.

 

12.       Representations
and Warranties of Lender. Lender hereby represents and warrants to Borrower as of the Issue Date as follows:

 

a.       Authority
to Contract. Lender has full legal power and authority to execute, deliver, and perform its obligations under this Agreement, and
this Agreement constitutes a legal, valid, and binding obligation of Lender enforceable against it in accordance with its terms.

 

b.       Due
Diligence. In connection with the purchase of this Agreement, Lender: (i) has been provided with the opportunity to conduct any and
all due diligence requested or required by Lender concerning Borrower and its business, financial condition, and prospects as Lender has
determined to be necessary; (ii) has had an opportunity to ask such questions and make such inquiries concerning Borrower, its business,
its financial condition, and its prospects as Lender has deemed appropriate; and (iii) has received complete and satisfactory answers
to such questions and inquiries.

 

c.       Independent
Legal Counsel. Lender has had a full and complete opportunity to consult with independent legal counsel or other advisers of its own
choosing concerning the terms, enforceability, and implications of this Agreement, and Borrower has not made any representations or warranties
to Lender concerning the terms, enforceability, or implications of this Agreement other than as reflected in this Agreement.

 

d.       Source
of Funds. The funds required to satisfy payment of the Exercise Price to Borrower, and the source or sources of all such funds, comply
with all relevant anti-money laundering laws and regulations, including such United States statutes amended by the USA PATRIOT Act of
2001 (P.L. 107-56, October 26, 2001) and the regulations administered by the United States Department of Treasury’s Office of Foreign
Assets Control.

 

    	 	Page
                                            2 of 5	 

    	 

    

	Loan Agreement	August 19, 2021

 

 

e.       No
Undisclosed Third Parties to Agreement. Lender is acting for itself as the sole Lender pursuant to this Agreement, and there are no
undisclosed third parties to this Agreement.

 

f.       Brokers.
No broker, finder, or investment banker is entitled to any brokerage, finder’s, or other fee or commission in connection with the
transactions contemplated by this Agreement, based upon arrangements made by or on behalf of Lender.

 

g.       Accredited
Investor. Lender is either (i) an “accredited investor” as defined in Rule 501(a) or (ii) a “sophisticated person”
as defined in Rule 506(b)(2)(ii), each as promulgated under the Securities Act of 1933, as amended, and has such knowledge and experience
in financial and business matters that it is capable of evaluating the merits and risks of the transactions contemplated under this Agreement.
Lender represents that by reason of its, or of its management’s, business, and financial experience, Lender has the capacity to
evaluate the merits and risks of its investment in this Agreement and to protect its own interests in connection with the transactions
contemplated in this Agreement. Lender’s financial condition is such that it is able to bear all economic risks of investment in
this Agreement, including a complete loss of its investment.

 

h.       No
General Solicitation. Lender is not entering into this Agreement or purchasing any securities pursuant hereto as a result of any advertisement,
article, notice, or other communication regarding this Agreement or any securities, including from any: (i) publication in any newspaper,
magazine, or similar media; (ii) broadcast over the internet, television, radio, or other medium; (iii) presentation at any seminar or
other in-person event; or (iv) other general solicitation or general advertisement.

 

i.       No
Distribution of Agreement. Lender is acquiring this Agreement for investment purposes, with no intention of distributing or reselling
any of this Agreement or any interest therein. Lender does not presently have any contract, undertaking, agreement, or arrangement with
any entity, organization, or individual to sell or transfer or grant participations in, this Agreement to any such entity, organization,
or individual.

 

j.       No
Market Pricing of Agreement. Lender understands the terms of and risks associated with the acquisition of this Agreement, including,
without limitation, a lack of liquidity, price transparency, or pricing availability and the risks associated with the industry in which
Borrower operates.

 

k.       No
Registration; Resales. Lender hereby acknowledges that the securities being offered or sold pursuant to this Agreement have not been
and is not registered under the Securities Act of 1933, as amended, and that such securities will not be transferred or sold except: (i)
pursuant to the registration provisions of the Securities Act of 1933, as amended, or pursuant to an applicable exemption therefrom; and
(ii) in accordance with all other applicable federal, state, and local securities laws and regulations.

 

    	 	Page
                                            3 of 5	 

    	 

    

	Loan Agreement	August 19, 2021

 

 

13.       Further
Instruments. Each Party agrees to execute and deliver such other and further instruments, and to do such other and further acts, as
may be necessary or desirable to effect the transactions contemplated in this Agreement and carry out the intent and purpose of this Agreement.

 

14.       Entire
Agreement. This Agreement, together with any accompanying instruments and documents referenced herein or executed contemporaneously
herewith, comprise the full and complete agreement of the Parties with respect to the subject matter hereof and supersedes all prior communications,
understandings, and agreements of the Parties, whether written or oral, expressed or implied, with respect the subject matter hereof.

 

15.       Conflicts;
Governing Documents. In the event of any ambiguity or conflict between this Agreement and any document referenced herein or executed
contemporaneously herewith, this Agreement will control.

 

16.       Notices.
All notices under this Agreement will be in writing and will be sent to Borrower at 75 Pringle Way, 8th Floor, Suite 804, Reno, NV
89502, and to Lender at 2817 E Oakland Park Blvd., 3rd Floor, Fort Lauderdale, FL 33306. All notices to be sent or delivered
hereunder will be deemed to be given or become effective for all purposes of this Agreement as follows: (i) if delivered in person, when
given; (ii) if sent by mail, when received by the person to whom it is given, unless it is mailed by registered, certified or express
mail, in which case it will be deemed given or effective on the earlier of the date of receipt or refusal; and (iii) if sent by electronic
mail, facsimile, or other form of electronic transmission, twelve (12) hours after the transmission with proof that it was sent to the
correct electronic mail address, telephone number, or similar address, as the case may be.

 

17.       Costs.
Each Party agrees to pay its own costs, expenses, and attorneys’ fees incurred in connection with this Agreement, including in the
event of any litigation arising out of this Agreement.

 

18.       Opportunity
to Review. The Parties acknowledge and agree that they have had a full and fair opportunity to review, comment, and make compromise
revisions to this Agreement.

 

19.       Choice
of Law. This Agreement will be governed by and interpreted in accordance with the laws of the State of Nevada without giving
effect to the conflicts of laws principals thereof.

 

20.       Jurisdiction
and Venue. Each Party hereby submits to the jurisdiction and venue of the state and federal courts located in Washoe County, Nevada,
for purposes of any mediation, arbitration, or litigation related to this Agreement.

 

21.       Waiver
of Jury Trial. Each Party hereby waives trial by jury in any action, proceeding, or counterclaim brought by any party hereto or any
beneficiary hereof on any matter whatsoever arising out of or in any way connected with this Agreement.

 

22.       Severability.
Each provision of this Agreement is severable, and the unenforceability or invalidity of any provision of this Agreement will not affect
the validity or enforceability of the remaining provisions of this Agreement; provided, however, that each Party will use reasonable efforts
to give effect to the economic or other intended purpose of any provision that is unenforceable or invalid.

 

    	 	Page
                                            4 of 5	 

    	 

    

	Loan Agreement	August 19, 2021

 

 

23.       Enforceability.
This Agreement will not be effective or enforceable until executed by each Party set forth below.

 

24.       Counterparts.
This Agreement may be executed in counterparts, each of which when executed and delivered will be deemed to be an original, but all of
which will constitute one and the same instrument.

 

25.       Electronic
Signatures. This Agreement may be executed by original, facsimile, and electronic signatures, each of which when affixed will be deemed
to be an original that is enforceable against the executing Party.

 

IN WITNESS WHEREOF, Lender
has agreed to the foregoing terms and conditions of this Agreement.

 

	
    “BORROWER”

     

    UPD HOLDING CORP.
	 	
    “LENDER”

     

    Corey
    Shader

	 	 	 	 
	 	 	 	 
	 	 	 	 
	By:	/s/ Mark Conte	 	By:	/s/ Corey Shader
	
    Name: Mark Conte

    Title: Chief Executive Officer
	 	
    Name: Corey Shader

    Title: An Individual

 

Lender’s Securities Registration Information:

 

 

	Address:	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 

 

	State of Residence or Entity Formation:	 
	 	 
	Social Security Number or Tax ID Number:	 

 

 

Page 5 of 5

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