Document:

Exhibit 10.7

 

Dated the 14th day of September 2017

 

Regent International Industrial Limited

(the landlord)

 

 

 

and

 

 

 

Fit Boxx Trading Company Limited

 

(the tenant)

 

 

 

 

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TENANCY AGREEMENT

 

 

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AN
AGREEMENT      made the 14th day of September Two Thousand and Seventeen

 

BETWEEN the party whose name address
and description are more particularly described and set out in Part I of the First Schedule hereto (“the Landlord”)
and the party whose name address and description are more particularly described and set out in Part II of the First Schedule
hereto (“the Tenant”).

 

WHEREBY IT IS AGREED as follows:-

 

1. PREMISES

 

1.1 The Landlord shall let and the Tenant
shall take all that the premises more particularly described and set out in the Second Schedule hereto (“the said
premises”) Together with the furniture and chattels set out in the Third Schedule hereto (if any) (“the
Furniture and Chattels”) Together with the use in common with the Landlord and all others having the like right of the
entrance staircases landings lavatories and passages (if any) of the building of which the said premises form part more particularly
described in the Second Schedule hereto (“the said building”) in so far as the same are necessary for
the proper use and enjoyment of the said premises and together with the use in common with others of the lifts escalators and
central air-conditioning, if any, for the term and at the rent and the charges and in the manner more particularly described and
set out in the Fourth Schedule hereto the first of such payments to be apportioned according to the number of days then
unexpired in the month in respect of which such payment is due and the last of such payments to be apportioned according to the
number of days of the said term remaining in the month in respect of which such payment is due Subject to and with the benefit
of the Deed of Mutual Covenant and Management Agreement (if any) of the said building.

 

2. TENANT’S COVENANTS

 

2.1 The Tenant to the intent that the obligations hereunder
shall continue throughout the said term hereby agrees with the Landlord as follows:-

 

To pay rent

 

	 	(a)	To pay the said rent on the days and in the manner hereinbefore provided for payment thereof without
deduction and without set-off of whatsoever nature, whether legal or equitable or otherwise.

 

To pay management fee

 

		(b)	To pay the management fee punctually in respect of
the said premises in the sum and the manner set out in the Fourth Schedule hereto without deduction and without set-off of whatsoever
nature, whether legal or equitable or otherwise.

 

     

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To
pay air-conditioning & other charges

 

		(c)	To duly pay or discharge punctually all air-conditioning
(if any) and other charges as may from time to time be charged in respect of the said premises pursuant to or by virtue of the
provisions of the Deed of Mutual Covenant and/or Management Agreement (if any) of the said building or otherwise payable or become
payable in respect of the said premises (outgoings of a capital or nonrecurring nature only excepted).

 

To pay rates taxes etc.

 

		(d)	To pay and discharge punctually all Government assessments,
Government rent, rates, duties, charges, impositions and outgoings of a recurring nature now or hereafter to be assessed imposed
or charged by the Government of Hong Kong or other lawful authority upon the said premises or upon the owner or occupier hereof
(property tax and payments of a capital or non-recurring nature only excepted).

 

To pay gas water and electricity charges

 

		(e)	To pay and discharge all charges punctually for gas,
water, electricity and telephone rental and other outgoings now or at any time hereafter consumed by the Tenant and chargeable
in respect of the said premises which are operated from the Tenant’s own metered supply and/or which are apportioned to
be payable by the Tenant in case the Tenant shares the utility meter(s) with another and to make all necessary deposits therefor
and all payments necessary for the installation of supply thereof.

 

To keep interior etc. in repair

 

		(f)	To keep all the interior parts of the said premises
including the flooring and interior plaster or other finishes or rendering to walls, floors and ceilings and the Furniture and
Chattels and the Landlord’s fixtures and fittings therein including all doors, windows, electrical and gas installations,
air-conditioning units (if any), light fittings, fire fighting apparatus (if any), security alarm system (if any), piping, drainage,
wiring and meters and telecommunication cables in good, clean and tenantable repair and condition and properly preserved and painted
(fair wear and tear excepted) and so to maintain the same at the expenses of the Tenant and to deliver up the same to the Landlord
at the expiration or sooner determination of the term in like condition. In particular, but without in any way limiting the foregoing:-

 

To repair and replace electrical wiring etc.
within the premises

 

		 	(i)	To repair or replace, if so required by the appropriate
supply company, statutory undertaker or authority (as the case may be) under the terms of any Electricity Supply or similar Ordinance
for the time being in force or any Orders in Council or Regulations made thereunder, all electrical wiring installations and fittings
within the said premises from the Tenant’s meter or meters to and within the same and, in so doing, the Tenant shall use
a contractor approved by the Landlord (such approval not to be unreasonably withheld or unduly delayed) for the purpose.

 

     

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To keep sanitary and water apparatus used
exclusively in good repair

 

		(ii)	To keep the sanitary
and water apparatus used exclusively by the Tenant and his servants, agents and licensees in good, clean and tenantable
repair and condition (fair wear and tear excepted) and in accordance with the regulations or by laws of all Public Health and
other Government Authorities concerned.

 

To be responsible for loss or damage caused
by interior defects

 

		(g)	To be wholly responsible for any loss, damage or injury
caused to any other person whomsoever and/or to any property directly or indirectly through the default or negligence of the Tenant
and the defective or damaged condition of any part of the interior of the said premises where the tenant is obliged herein to
rectify such defective or damaged condition and to make good the same by payment or otherwise and to indemnify the Landlord against
all actions, proceedings, claims and demands made upon the Landlord in respect of any such loss, damage or injury and all costs
and expenses incidental thereto.

 

To effect third party insurance

 

		(h)	To effect and maintain at the Tenant’s costs
during the term of the tenancy hereby granted adequate insurance cover in respect of liability for loss, damage or injury to any
person or property whomsoever or whatsoever caused through or by any default or negligence of the Tenant. The policy of insurance
shall be effected with a reputable insurance company and shall be endorsed to show the Tenant and the Landlord as joint insured
parties. The Tenant shall produce to the Landlord for inspection as and when required by the Landlord such valid and subsisting
policy of insurance together with a receipt of the last payment of premium and in default of which the Landlord shall be entitled
(but not obliged) at the Tenant’s expense to effect such insurance cover.

 

To permit Landlord to enter and view

 

		(i)	To peunit the Landlord and all persons authorized by
him with or without workmen at all reasonable times upon prior appointment with the Tenant to enter and view the state of repair
of the said premises, to take inventories of the fixtures and fittings therein, to carry out any works or repairs which may be
required to be done and, during the last three months of the said term, to show the said premises to prospective tenants or purchasers
provided the Landlord shall not interfere with the Tenant’s business.

 

To execute repair on receipt of notices

 

		(j)	On receipt of any notice from the Landlord or his authorized
representatives specifying any works or repairs which they require to be done and which and the extent of which are the responsibility
of the Tenant hereunder, within one month from the date of receipt of such notice to put in hand and execute the same with all
possible despatch and without any delay. Failure by the Tenant so to do within the said period shall entitle the Landlord or its
servants or agents to enter upon the said premises and forcibly in case of necessity to carry out any such works or repairs at
the Tenant’s sole expenses.

 

     

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To make good damage to building

 

		(k)	To make good at the expenses of the Tenant any portion
of the said building which may be damaged through any omission act or default of the Tenant or of any of his servants visitors
which omission act or default are in breach of the provisions hereunder or through the escape of water, fire, smoke or fumes from
or explosion in the said premises.

 

Not to erect install or alter partitioning
fixtures etc. without Landlord’s consent

 

		(l)	Not to erect, install or alter any fixtures partitioning
or other erection or installation in the said premises or any part thereof or to carry out any fitting out works to the said premises
without the landlord’s prior written consent (which consent may not be unreasonably withheld) first had and obtained and
without observing in full the Fitting Out Rules (if any) of the said building and all other reasonable instructions, directions
and conditions which the landlord my deem fit to impose in giving its consent.

 

To remove illegal structures

 

		(m)	To remove at the cost of the Tenant any structures
erections partitions and other alterations at any time during the said term if required by the Building Authority or other competent
Government Departments which were or have been put up by the Tenant and to make good all damage caused by such removal. The Landlord
shall not be responsible to the Tenant for any loss suffered by the Tenant in any way as a result of such removal.

 

Not to cut injure or maim walls etc.

 

		(n)	Not to cut, maim, injure, drill into, mark or deface
or permit or suffer to be cut, maimed, injured, drilled into, marked or defaced any doors, windows, walls, beams, structural members
or any part of the fabric of the said premises nor any of the plumbing or sanitary apparatus or installations included therein
without the previous consent of the Landlord such consent not be unreasonably withheld.

 

Not to drive nails etc. into ceilings walls
or floors

 

		(o)	Not to drive or insert or permit or suffer to be driven
or inserted any nails, screws, hooks, brackets or similar articles into the ceilings, structural walls or floor of the said premises
without the previous consent of the Landlord, nor without the like consent to lay or use any floor covering which may damage the
existing flooring (such consent not to be unreasonably withheld).

 

Use of the premises

 

		(p)	Not to use the said premises for any purpose other
than for the purpose and under the style or firm name (if any) as described and set out in the Fourth Schedule hereto.

 

     

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Not to use premises as sleeping quarters or
domestic premises

 

		(q)	Not to use or permit or suffer the said premises or
any part thereof to be used as sleeping quarters or as domestic premises within the meaning of the Landlord and Tenant (Consolidation)
Ordinance or similar legislation for the time being in force nor to allow any person to remain in the said premises overnight
Provided that the Tenant shall be entitled to post a male watchman to look after the contents of the said premises.

 

Not to permit odours

 

		(r)	Not to cause or permit any offensive or unusual odours
to be produced upon, permeate emanate from the said premises.

 

Not to produce music or noise audible outside

 

		(s)	Not to produce or permit or suffer to be produced any music or noise (including sound
                                                                                  produced by broadcasting or any apparatus or equipment capable of producing, reproducing, receiving or recording sound) so as
                                                                                  to cause a nuisance to other users of the said building and, where music is to be regularly played, to install at the
                                                                                  Tenant’s cost or expense and to the reasonable satisfaction of the Landlord adequate sound proofing or insulation
                                                                                  devices in the said premises.

 

Not to permit any nuisance or annoyance

 

		(t)	Not to do or permit or suffer to be done any act or
thing which may be or become a nuisance or annoyance to the Landlord or to the tenants or occupiers of other premises in the said
building or in any adjoining or neighbouring building.

 

Not to breach Government Lease
or cause insurance to be hold void or premium increased 

 

		(u)	Not to do or permit or suffer to be done any act, deed,
matter or thing in breach of the provisions hereunder which amounts to a breach of any of the terms and conditions under which
the land on which the said building stands is held from the Government or whereby any insurance on the said building against loss
or damage by fire and/or claims by third parties for the time being in force may be rendered void or voidable or whereby the premium
thereof may be increased Provided that if as a result of any act, deed, matter or thing done permitted or suffered by the Tenant
in breach of the provisions hereof, the premium on any such policy of insurance shall be increased, the additional premium shall
be borne by the Tenant.

 

     

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Not to keep items of combustible nature or
hazardous goods

 

		(v)	Not to keep or store or permit or suffer to be kept
or stored in the said premises any arms, ammunition, gunpowder, salt-petre, kerosene or other explosive or combustible substance
or otherwise unlawful or dangerous or hazardous goods within the meaning of the Dangerous Goods Ordinance and the regulations
thereunder and/or any statutory modification or re-enactment thereof or any enactment amending or substituting the same except
in such quantity of kerosene or combustible substance as may be allowed by law and as may be required to carry out the Tenant’s
business in the said premises.

 

Not to keep animals or pets

 

		(w)	Not with the previous written consent of the Landlord
(such consent shall not be unreasonably withheld) to keep or permit or suffer to be kept any animals or pets inside the said premises
and to take all such reasonable steps and precautions to prevent the said premises or any part thereof from becoming infested
by termites, rats, mice, roaches, or any other pests or vermin.

 

Not to permit illegal or immoral use

 

		(x)	Not to use or permit or suffer the said premises to
be used for any illegal or immoral purpose or for any purpose which is in contravention of the terms and conditions contained
in the Government Lease or Conditions under which the said premises are held from the Crown and not to carry on any trade or business
thereon which is now or may hereafter be declared to be an offehsive trade under the Public Health & Urban Services Ordinance
or any other Ordinances or Regulations and any enactment amending or substituting the same.

 

Not to display signs except name etc. in places
provided

 

	 	(y)	(i)	Not to affix or display or permit or suffer to be affixed or displayed outside the said premises any signboard, sign, decoration or other device whether illuminated or not which may be visible from outside the said premises except with the consent of the Landlord and which consent not to be unreasonably withheld. Any approval or consent to be granted shall be subject to such reasonable conditions as the Landlord may think fit. The Landlord shall have the right to remove at the cost and expense of the Tenant any signboard, sign, decoration or thing which shall be affixed put up or displayed without the prior approval or consent of the Landlord.
	 	 	 	 
	 	 	(ii)	To be wholly responsible for any loss, damage
or injury caused to any person whomsoever directly or indirectly through the erection fixation or display of any signboard, sign,
decorations or other thing whatsoever thereof outside the said premises or any door wall pier or window as aforesaid or through
the defective or damaged condition of any such signboard, sign, decorations or thing or any part thereof so affixed or put up
or displayed notwithstanding that such signboard, sign, decorations or thing are so affixed or put up’ or displayed outside
the said premises or any door wall pier or window with the approval of the Landlord.

 

     

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		(iii)	If the Tenant carries on business under a name other
than his own name, he shall notify the Landlord of the name under which his business is carried on and shall be entitled to have
that name displayed, painted or affixed as aforesaid but the Tenant shall not be entitled to change the business name without
the previous written consent of the Landlord which consent cannot be unreasonably withheld and without prejudice to the foregoing,
the Landlord may, in connection with any application for consent under this Clause, require the Tenant to produce such reasonable
and necessary evidence to show that no breach of Clause 2.1(ai) has taken place or is about to take place. The Landlord shall
have the right to remove at the cost and expense of the Tenant any signboard, sign, decoration, illuminated signs, flags, posters,
or thing which shall be affixed, put up or displayed in contravention of this Clause upon the failure of the Tenant to do so within
one month from the date of receipt by the Tenant of the Landlord’s written notice demanding the removal of such sign, decoration,
illumination, signs, flags, posters or thing.

 

Not to overload

 

		(z)	Not to overload the lifts in the said building in excess
of their maximum capacity and to be responsible for any damage caused by any breach hereof and not to install or permit or suffer
to be installed any equipment apparatus or machinery which imposes a weight on any part of the flooring in excess of the flooring’s
designed loading or which requires additional electrical main wiring or which consumes electricity not metered through the Tenant’s
separate meter.

 

Not to encumber or obstruct passages and common
areas

 

		(aa)	Not to encumber or obstruct or permit to be encumbered
or obstructed with any box, packaging or other obstruction of any kind or nature any of the entrances, staircases, landings, passages,
lifts, lobbies or other parts of the said building in common use and not to leave rubbish or any other article or thing in any
part of the said building not in the exclusive occupation of the Tenant.

 

Insurance

 

		(ab)	Not to do or omit anything whereby any policy of insurance
on the said premises may become void or voidable nor (unless the Tenant shall have previously notified the Landlord and have paid
the increased premium) anything whereby additional insurance premiums may become payable and to comply with all the reasonable
requirements of the insurers which are notified to the Tenant provided that such requirements are reasonable.

 

Not to lay wiring or cables etc. in the public
areas

 

		(ac)	Not to lay install affix or attach any wiring, cables
or other article or thing in or upon any of the public entrances, staircases, landings, passageways, lobbies or, public areas.

 

     

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Private air-conditioning
units

 

		(ad)	Not to install any private air-conditioning unit without
the Landlord’s prior written consent such consent not to be unreasonably withheld and in the event of the Tenant installing
private air-conditioning units in the said premises or any part thereof with the Landlord’s prior written consent, the Tenant
shall comply with the reasonable direction and instructions of the Landlord regarding installation and shall at its own expense
be responsible for their periodic inspection maintenance and repair and for the replacement of defective wiring and the Tenant
shall be strictly liable for any damage caused directly or indirectly by the installation, operation or removal of such units
and not to install or fix or erect any supports or any iron brackets or venetian blinds or sun blinds of any description to or
on any part of the exterior walls of the said building for any purpose including the installation of air-conditioners without
prior written consent of the Landlord such consent not to be unreasonably withheld.

 

No openings on exterior walls

 

		(ae)	Not to make any openings on any part of the exterior
walls of the said building.

 

No shelters on flat roofs etc. 

 

		(af)	Not to erect any shelters or coverings on any part
of the flat-roofs or roof of the said building.

 

No wiring from window 

 

		(ag)	Not to erect or hand any wire or aerial wiring from
the windows or outside the exterior walls of the said building.

 

No hanging common parts 

 

		(ah)	Not to use or cause or permit the use of the common
corridors, staircases or other common passages of the said building for the purpose of drying laundry or hanging or placing or
storing any article or thing thereon or therein and not to permit the Tenant’s agents servants employees guests invitees
to use the same for loitering or eating.

 

     

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Not to assign underlet etc.

 

		(ai)	Not to assign, underlet, part with possession of, or
transfer the said premises or any part thereof or any interest therein, nor enter into, permit or suffer any arrangement or transaction
in any way whether by way of subletting, lending,  sharing or other means whereby any person who is not a party to this Agreement
(“the third party”) shares or obtains the use, possession, occupation or enjoyment of the said premises or any part
thereof irrespective of whether any rental or other consideration is given therefor. The tenancy shall be personal to the Tenant
named in this Agreement, and without in any way limiting the generality
of the foregoing, the following acts and events shall, unless approved in writing by the Landlord which consent cannot be unreasonably
withheld, be deemed to be breaches of this Clause:-

 

		(i)	In the case of a tenant which is a partnership, the
taking in of one or more new partners whether on the death or retirement of an existing partner or otherwise.

 

		(ii)	In the case of a tenant who is an individual (including
a sole surviving partner of a partnership tenant) the death, insanity or other disability of that individual, to the intent that
no right to use, possess, occupy or enjoy the said premises or any part thereof shall vest in the executors, administrators, personal
representatives, next of kin, trustee or committee of any such individual.

 

		(iii)	In the case of a corporation, any take-over, reconstruction,
amalgamation, merger or voluntary liquidation, or any change in the majority shareholding or in the control of ultimate beneficial
ownership provided that any takeover of or by or reconstruction of, amalgamation or merger with any company which the Tenant or
one of the shareholders of the Tenant is a shareholder holding at least 20% of the total issued shares shall not be considered
a breach of this clause nor shall any consent from the Landlord be required.

 

		(iv)	The giving by the Tenant of a Power of Attorney or
similar authority whereby the donee of the Power obtains the right to use, possess, occupy or enjoy the said premises or any part
thereof or does in fact use, possess, occupy or enjoy the same.

 

		(v)	The change of the Tenant’s business name without
the Landlord’s prior written consent which consent shall not be unreasonably withheld.

 

To comply with Deed of Mutual Covenant and
Ordinances etc.

 

		(aj)	To obey and comply with and to indemnify the Landlord
against the breach, non-performance or non-observance of the Deed of Mutual Covenant and Management Agreement (if any) of the
said building and all ordinances, regulations, bylaws, rules and requirements of any Government or other competent authority relating
to the conduct and carrying on of the Tenant’s business on the said premises or to any other acts, deed, matter or thing
done, permitted suffered or omitted therein or thereon by the Tenant or any employee, agent or licensee of the Tenant on the said
premises.

 

To pay cost of clearing drains etc.

 

		(ak)	To pay to the Landlord on demand all costs incurred
by the Landlord in cleansing, clearing, repairing or replacing any of the drains, pipes or sanitary or plumbing apparatus choked
or stopped up owing to the careless or improper use or neglect by the Tenant or any employee agent or licensee of the Tenant.

 

     

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To protect interior from approaching
typhoon

 

		(al)	To take all reasonable precautions to protect the interior
of the said premises against damage by storm or typhoon or the like.

 

To be responsible for contractors, servants,
agents and licensees

 

		(am)	To be responsible to the Landlord for the acts, neglects
and defaults of all contractors, servants, agents and licensees of the Tenant as if they were the acts, neglects and defaults
of the Tenant himself and for the purpose of this Agreement “licensee” shall include any person present in, using
or visiting the said premises with the consent of the Tenant express or implied.

 

To reimburse Landlord for work done

 

		(an)	To reimburse the Landlord for the costs of any work
which the Tenant is liable to perform hereunder which the Landlord has the right to perform in the Tenant’s default under
the provisions hereunder and has defaulted in performing the same.

 

To notify Landlord of accidents and defects
in fittings and fixtures

 

		(ao)	To give prompt notice to the Landlord of any accidents
to or damage or defects in the water pipes gas pipes electrical wiring or fittings or other facilities provided by the Landlord
in the said premises whether or not the Tenant is liable hereunder for the repair of the same upon the same coming to the knowledge
of the Tenant.

 

To remove refuse to a place specified by Landlord

 

		(ap)	To remove each day from the said premises all refuse
and rubbish to such spot in the building as shall be specified by the Landlord from time to time and subject to such reasonable
rules and regulations as the Landlord may from time to time determine.

 

Re-instate premises

 

		(aq)	Unless the Landlord otherwise agrees in writing, to
re-instate and restore the said premises to their original condition as when the said premises was first delivered by the Landlord
to the Tenant and to make good all damage caused or occasioned by the erection and removal of alterations partitions or other
erections.

 

     

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To yield up at the end of term

 

		(ar)	Quietly to yield up the said premises together with
all the Landlord’s fixtures, fittings and additions therein and thereto and the Furniture and Chattels at the expiration
or sooner determination of this tenancy in good clean and tenantable repair and condition (fair wear and tear excepted) and in
the event that the Tenant has made any alterations or installed any fixtures or additions to the said premises, whether with
or without the Landlord’s written consent, the Tenant shall reinstate and remove such alterations fixtures or additions and make
good and repair in a proper and workmanlike manner any damage to the said premises and the Landlord’s fixtures and fittings therein
as a result thereof before delivering up the said premises to the Landlord provided that the Tenant’s obligations relating to reinstatement
and removal under this Clause may be modified or varied by the Landlord agreeing with the Tenant in writing to retain all or any
of the said alterations fixtures or additions which the Tenant is otherwise liable hereunder to remove. Upon delivery up of possession
of the said premises in the condition aforesaid, the Tenant shall surrender to the Landlord all keys giving access to all parts
of the said premises held by the Tenant and to remove at the Tenant’s expense all lettering and characters from all the doors,
walls or windows of the said premises and to make good any damage caused by such removal.

  

3. LANDLORD’S COVENANTS

 

3.1 The Landlord hereby agrees with the Tenant as follows:-

 

To pay Property Tax etc. 

 

		(a)	That the Landlord will pay the Property Tax and all
payment of a non-recurring or capital nature payable in respect of the said premises.

 

That Tenant shall have quiet enjoyment

 

		(b)	That the Tenant paying the rent and observing and performing
the agreements, stipulations and conditions herein contained and on the Tenant’s part to be observed and performed shall
peaceably hold and enjoy the said premises during the said term without any interruption by the Landlord or any person lawfully
claiming under or in trust for the Landlord.

 

To keep exterior in repair

 

		(c)	To keep the exterior of the said premises in good and
substantial repair and condition (fair wear and tear excepted) Provided That such wants of repair shall not be caused by the act
or default of the Tenant or its licensees servants agents visitors customers or invitees And Provided Further that the liability
of the Landlord hereunder shall not be deemed to have arisen unless and until written notice of any want of repair of the same
shall have been previously given by the Tenant to the Landlord and the Landlord shall have failed to take steps to repair the
same after lapse of reasonable time.

 

     

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4. OTHER PROVISIONS 

 

4.1 It is hereby further expressly agreed and declared as follows:-

 

Landlord’s right of re-entry

 

		(a)	If the rent or any part thereof shall be unpaid for
fifteen (15) days after the same shall become payable (whether legally or formally demanded or not) or if the Tenant shall fail
or neglect to observe or perform any of the agreements, stipulations or conditions herein contained and on the Tenant’s
part to be observed and performed or if the Tenant shall suspend business without the Landlord’s prior written consent which
consent shall not be unreasonably withheld or if the Tenant shall become bankrupt, or being a corporation shall go into liquidation
or if any petition shall be filed for the winding up of the Tenant, or if the Tenant otherwise becomes insolvent or makes any
composition or arrangement with creditors or shall suffer any execution to be levied on the said premises or otherwise on the
Tenant’s goods, then and in any such case it shall be lawful for the Landlord at any time thereafter to re-enter the said
premises or any part thereof in the name of the whole whereupon this Agreement shall absolutely cease and determine but without
prejudice to any right of action by the Landlord in respect of any outstanding breach or non-observance or non-performance of
any of the agreements, stipulations and conditions herein contained and on the Tenant’s part to be observed and performed
and to the Landlord’s right to deduct all loss and damage thereby incurred from the deposit paid by the Tenant in accordance
with Clause 5 hereof.

 

Notice of re-entry

 

		(b)	A written notice served by the Landlord on the Tenant
in manner hereinafter mentioned to the effect that the Landlord thereby exercises the power of re-entry herein contained shall
be a full and sufficient exercise of such power without actual physical entry on the part of the Landlord.

 

Non-waiver

 

		(c)	Acceptance of rent (or management fees) by the Landlord
shall not be deemed to operate as a waiver by the Landlord of any right to proceed against the Tenant in respect of any breach
non-observance or non-performance by the Tenant of any of the agreements, stipulations and conditions herein contained and on
the Tenant’s part to be observed and performed.

 

Landlord not liable for overflow of water,
etc. and Tenant’s indemnity

 

		(d)	The Landlord shall not be under any liability to the
Tenant or to any other person whomsoever in respect of any loss or damage to person or property sustained by the Tenant or any
such other person caused by or through or in any way owing to: -

 

		(i)	the defective or damaged condition of the said building
or the said premises or any of the Furniture and Chattels;

 

		(ii)	any failure breakdown explosion malfunction or suspension
of the electricity, gas (if any), water supply, telecommunication cables and ancillary installations (if any), lifts, escalators
(if any), central air-conditioning system (if any), ventilation system, fire warning and fighting apparatus and installations,
water sprinkler system (if any) or other utilities facilities
or services to or provided in the said building or the said premises;

 

     

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		(iii)	any typhoon, overflow of water or escape of fumes,
smoke, fire, electricity or the dropping of cigarette ends, broken pieces of glass or any other substance or thing from anywhere
within the said building or the said premises;

 

		(iv)	the activity of termites, roaches, rats or other vermin
in the said building or the said premises; or

 

		(v)	the inadequacy or otherwise of any of the management
services (including security) rendered by the Landlord or the manager of the said building (if any) or the failure to render the
same or the suspension or interruption thereof for whatever reason.

 

The Tenant shall fully
and effectually indemnify the Landlord from and against all claims and demands made against the Landlord by any person in respect
of any loss, damage or injury caused by or through or in any way owing to the neglect or default of the Tenant, his servants, agents
or licensees or to the defective or damaged condition of the interior of the said premises or any fixtures or fittings for the
repair of which the Tenant is responsible hereunder and against all costs and expenses incurred by the Landlord in respect of any
such claim or demand.

 

Suspension or abatement of rent in case of
fire etc.

 

		(e)	If the said premises or the said building or any part
thereof shall at any time during the tenancy be inaccessible or so destroyed or damaged owing to fire water storm wind typhoon
defective construction white ants earthquake subsidence of the ground or any calamity not attributable to the fault or neglect
of the Tenant so as to render the said premises unfit for habitation and use or if at any time during the continuance of this
tenancy the said premises or the said building shall be condemned as a dangerous structure or a demolition order or closure order
shall become operative in respect of the said premises or the said building then the rent hereby reserved or a fair proportion
thereof according to the nature and extent of the damage sustained or order made shall be suspended and ceased until the said
premises or said building shall again be rendered accessible or fit for habitation and use (as the case may be) Provided that
in so far as any rent which shall have been paid in advance the Landlord shall repay to the Tenant a due proportion of such rent
which relates to the period when the premises are unfit for habitation or inaccessible or subject to the closure repair or demolition
order and Provided that should the said premises or the said building not have been reinstated in the meantime either the Landlord
or the Tenant may at any time after three months from the occurrence of such damage or destruction or order give to the other
of them notice in writing to determine this present tenancy and thereupon the same and everything herein contained shall determine
as from the date of the occurrence of such destruction or damage or order of the said premises or of the said building becoming
inaccessible but without prejudice to the rights and remedies of either party against the other in respect
of any antecedent claim or breach of the agreement stipulations terms and conditions herein contained or of the Landlord in respect
of the rent and management fees and other charges payable hereunder prior to the coming into effect of the suspension.

 

     

    	 	 	14

    

 

Distress for rent

 

		(f)	For the purposes of Part III of the Landlord and Tenant
(Consolidation) Ordinance (Chapter 7) and of these presents, the rent and management fees and other charges payable in respect
of the said premises shall be and be deemed to be in arrears if not paid in advance at the times and in the manner hereinbefore
provided for payment thereof. All costs and expenses for and incidental to any distraint shall be paid by the Tenant and is recoverable
from him as a debt on a full indemnity basis. For the purpose of distraint and these presents, any outstanding management fees
and /or rates and/or air-conditioning charges and/or other charges hereby agreed to be paid and/or payable in respect of the said
premises shall be deemed to be arrears of rent notwithstanding any rule of law or equity to the contrary.

 

No waiver by Landlord

 

		(g)	No condoning, excusing or waiving by the Landlord of any
default, breach or non-observance or non-performance by the Tenant at any time or times of any of the Tenant’s obligations
herein contained shall operate as a waiver of the Landlord’s rights hereunder in respect of any continuing or subsequent
default, breach or non-observance or non-performance or so as to defeat or affect in any way the rights and remedies of the Landlord
hereunder in respect of any such continuing or subsequent default or breach. Any consent given by the Landlord shall operate as
a consent only for the particular matter to which it relates and in no way shall be considered as a waiver or release of any of
the provisions hereof nor shall it be construed as dispensing with the necessity of obtaining the specific written consent of
the Landlord in the future, unless expressly so provided.

 

Landlord can exhibit letting notices during
last three months of term

 

		(h)	During the three months immediately preceding the expiration
of the term hereby created, the Landlord shall be at liberty to affix and maintain without interference upon any external part
of the said premises a notice stating that the said premises are to be let and such other information in connection therewith
as the Landlord shall reasonably require which notice the Tenant shall not conceal or remove.

 

Landlord is entitled to change the name of
the building

 

		(i)	The Landlord shall, if empowered under the relevant
Deed of Mutual Convenant and Management Agreement (if any) of the said building or otherwise, at any time during the term hereby
granted be entitled to change the name of the said building on giving at least 6 months written notice to the Tenant and in respect
thereof the Landlord shall not where such notice is given in accordance with the terms hereof be liable in damages to the Tenant
or be made a party to any other proceedings or for costs expenses or whatsoever nature incurred by the Tenant as a result of such
change.

 

     

    	 	 	15

    

 

Service of notice

 

		(j)	Any notice required to be served hereunder shall, if
to be served on the Tenant, be sufficiently served if addressed to the Tenant and sent by prepaid post to or delivered at the
said premises and if to be served on the Landlord, shall be sufficiently served if addressed to the Landlord and sent by prepaid
post to or delivered to the Landlord’s address/registered office as shown in this Agreement.

 

Stamp Duty & Costs

 

		(k)	Each party shall bear its own legal costs and disbursements
of, and incidental to, the preparation, approval, completion and registration (as the case may be) of this Agreement. The stamp
duty payable on this Agreement and its counterpart shall be borne by the parties hereto in equal shares.

 

Legal costs and disbursements of enforcement

 

		(l)	Without prejudice to the generality of the foregoing
provisions, the Tenant shall be liable for, and shall fully indemnify the Landlord, and keep the Landlord fully indemnified against,
loss, costs, expenses, actions, demands, proceedings, claims and liabilities made against or suffered or incurred by the Landlord
arising directly or indirectly out of any act, omission, neglect, default or negligence of the Tenant or any persons at the said
premises expressly or impliedly with the Tenant’s authority and out of any breach or non-performance or non-observance by
the Tenant of any of the conditions or other provisions of this Agreement. In particular, but without limiting the generality
of the foregoing, all costs, fees, charges, disbursements and expenses (including but not limited to costs and fees chargeable
by and payable to Counsel, solicitors, professionals and bailiffs) reasonably incurred by the Landlord in its enforcement of any
of the agreements and stipulations hereunder on the part of the Tenant to be observed and performed and in relation to or incidental
to the recovery of arrears of rent or other sums and moneys due and payable by the Tenant to the Landlord hereunder shall be recoverable
from the Tenant on a full indemnity basis.

 

No key money etc.

 

		(m)	No key or construction money or other premium of a
similar nature has been paid or agreed to be paid by the Tenant to the Landlord, and no advance payment of rent has been paid
the Landlord except in pursuance with Clause 1 hereof.

 

     

    	 	 	16

    

 

Tenant’s responsible for acts and servants
etc.

 

		(n)	For the purposes of this Agreement, any act, default,
neglect or omission of any contractor, guest, visitor, servant, licensee, agent or customer of the Tenant shall be deemed to be
the act, default, neglect or omission of the Tenant.

 

No warranty of user

 

		(o)	No warranty or representation is given by the Landlord
to the Tenant as to: -

 

		(i)	whether the said premises are suitable for the purpose
for which the Tenant proposes to use the same; or

 

		(ii)	whether the relevant Government authorities will grant
the requisite permits or licenses to the Tenant for the Tenant to carry out the trade or business as may from time to time be
carried out or prefer to be carried out by the Tenant at the said premises.

 

Permits and licences of trade

 

		(p)	Notwithstanding any other agreements stipulation terms
conditions covenants and provisions in this Agreement the Tenant shall not claim against the Landlord for any losses or damages
which the Tenant may suffer as a result of the relevant Government authorities not issuing to the Tenant the requisite permits
or licences for the Tenant to carry out the trade or business which the Tenant may from time to time carry out to prefer to carry
out at the said premises.

 

Transfer of rental deposit upon sale by landlord

 

		(q)	In the event that the Landlord shall sell the said
premises during the term of this tenancy, the Tenant agrees that the Landlord shall be entitled to transfer to the new owner thereof
a sum equivalent to the amount of the deposit payable under this Agreement or any lesser sum after taking into account any deduction
which have been made by the Landlord from the said deposit pursuant to the agreements stipulations terms conditions or provisions
of this Agreement (“the Transfer Sum”), subject to the Landlord seeking an undertaking from the said new owner in
favour of the Landlord and the Tenant that the said new owner shall be responsible for the return of the Transfer Sum to the Tenant
subject to the same right of deduction as herein provided, whereupon the Landlord shall not be liable to the Tenant for the Transfer
Sum and/or the said deposit or any part thereof.

 

Rent free period

 

		(r)	The Tenant shall be entitled to such rent free period
(if any) as set out in the Fourth Schedule hereto provided that during such rent free period the Tenant shall be responsible
for payment of the management fee, government rent and rates and all other outgoings in respect of the said premises.

 

     

    	 	 	17

    

 

5. SECURITY DEPOSIT

 

	5.1	The Tenant shall on
the signing hereof or on the commencement of the tenancy hereby granted (whichever shall be the earlier to happen) deposit
and maintain with the Landlord a deposit of the amount as set out in the Fourth Schedule hereto to secure the due observance
and performance by the Tenant of the agreements, stipulations and conditions herein contained and on the Tenant’s part to
be observed and performed. The said deposit shall be retained by the Landlord throughout the said term free of any interest to
the Tenant and in the event of any breach or non-observance or non-performance by the Tenant of any of the said agreements, stipulations
or conditions aforesaid, the Landlord shall be entitled to terminate this Agreement and to forfeit the said deposit by way of
liquidated damages but without prejudice to the Landlord’s rights to claim against the Tenant all loss or damage suffered
by the Landlord as a result of the Tenant’s breach or non-performance as aforesaid. Notwithstanding the foregoing, the Landlord
may in any such event at his option elect not to terminate this Agreement and forfeit the deposit but to deduct from the deposit
the amount of any monetary loss incurred by the Landlord in consequence of the breach, non-observance or non-performance by the
Tenant of any of the said agreements, stipulations, obligations or conditions and in such event the Tenant shall as a condition
precedent to the continuation of the tenancy deposit with the Landlord the amount so deducted so as to make up to the amount of
the said deposit and, if the Tenant shall fail so to do, the Landlord shall be entitled to forthwith re-enter on the said premises
and to determine this Agreement and forfeit the deposit as hereinbefore provided by way of liquidated damages (and not as penalty).

 

	5.2	Subject as aforesaid, the said deposit shall be refunded to the Tenant by the Landlord without interest within 14 days
after the expiration or sooner determination of this Agreement and the delivery of vacant possession of the Premises to the Landlord
or within 14 days of the settlement of the last outstanding claim by the Landlord against the Tenant in respect of any breach,
non-observance or non-performance of any of the agreements, stipulations or conditions herein contained and on the part of the
Tenant to be observed and performed, whichever is the later.

 

6. APPLICABLE LAW

 

	6.1	This Agreement shall be construed and take effect in accordance with Hong Kong law and the parties hereto agree to submit themselves
to the non-exclusive jurisdiction of Hong Kong Court.

 

7. HEAD NOTES

 

	7.1	The head notes are intended for guidance only and do not form part of this Agreement nor shall any of the provisions in this Agreement
be construed or interpreted by reference thereto or in any way affected or limited thereby.

 

8. DEFINITIONS

 

	8.1	Unless the context otherwise requires, words herein importing the masculine gender shall include the feminine and neuter gender
and words herein in the singular shall include the plural and vice versa.

 

     

    	 	 	18

    

 

9. ADDITIONAL TERMS

 

	9.1	The additional terms (if
any) as set out in the Fifth Schedule hereto shall also apply but in the event that any contradiction between such additional
terms and the terms and conditions set out in this Agreement, the provisions of such additional terms shall prevail.

 

10. EXCLUSION OF WARRANTIES

 

	10.1	This Agreement sets out the full agreement reached between the parties and no other representation have been made or warranties
given relating to the Landlord or the Tenant or the said building or the said premises and if any such representation or warranty
has been made given or implied the same is hereby waived.

 

     

    	 	 	19

    

 

THE FIRST SCHEDULE ABOVE REFERRED
TO

 

Part I

 

Particulars of the Landlord 

 

	Name:	Regent International
Industrial Limited

 

[Business Registration No. 37262089]

 

	Registered:	Unit A, G/F, Koon Wo Industrial Building

	Office/Address	63-75 Ta Chuen Ping Street, Kwai Chung, N.T.

 

Part II

 

Particulars of the Tenant

 

	Name:	Fit Boxx Trading Company Limited

 

[Business Registration No. 50805373]

 

	Registered:	Unit F, 3/F, Hung Wai Industrial Building

	Office/Address	3 Hi Yip Street, Yuen Long, N.T.

 

THE SECOND SCHEDULE ABOVE REFERRED
TO

 

Description of the said premises

 

All Those Car Parking Spaces LP11 &
CP2 and the whole of 14th Floor (save and except the staircase, lift lobby and lift well) of Hung Wai Industrial Building,
Nos.1-5 Hi Yip Street & Nos.20-26 Wang Yip Street West, Yuen Long, New Territories, Hong Kong (erected on Yuen Long Town Lot
No.355)

 

THE THIRD SCHEDULE ABOVE REFERRED
TO

 

Inventory of Furniture and Chattels 

 

NIL

 

     

    	 	 	20

    

 

THE FOURTH SCHEDULE ABOVE REFERRED
TO

 

Rent and Term, etc.

 

	Term:	TWO [2] years fixed from 9th September 2017
to 8th September 2019 (both days inclusive).

 

	Rent:	HK$180,700.00 per calendar
month

 (exclusive of management fee, government rent and rates), payable in advance on the 1st day of each and every calendar
month.

 

	Management:	The Current Charge is HK$22,581.00 per calendar month.

Payable to the Landlord in advance on the 1st day of each and every calendar month. (It’s subject to be reviewed
from time to time)

 

	Rent Free:	 TEN [10] days from 9th September 2017
to 18th September 2017 (both days inclusive). Exclusive to Management Fee, Government Rent and Rates.

 

	Advance Rent:	HK$180,700.00 (equivalent to ONE
                                         [ 1 ] month rent, shall be applied towards the payment of the first month rental. (For
                                         the period from 19th September 2017 to 18th October 2017).

 

	User:	For industrial or godown use only.

 

	Stamp Duty:	To be shared between the Landlord and Tenant equally. All
other legal fees shall be borne by each party independently.

 

	Deposit:	HK$609,843.00 (equivalent
to THREE [ 3 ] months’ rent and THREE [ 3 ] months’ Management Fee). The previous Rental Deposits will be transferred
to settle this Rental Deposit, Detail as bellows:

 

		1.	HK$114,681.60 will be transferred from the Tenancy Agreement dated on 12th May
                                                                                 2017 of Unit H, 2/F, Hung Wai Industrial Building, No.3 Hi Yip Street, Yuen Long, N.T.

 

		2.	HK$290,632.80 will be transferred from the Tenancy Agreement
dated on 14th May 2015 of Units A to E, 9/F, Hung Wai Industrial Building, No.3 Hi Yip Street, Yuen Long, N.T

 

		3.	HK$154,758.00 will be transferred from the Tenancy Agreement
dated on 15th January 2016 of Units G,H and 1 , 9/F, Hung Wai Industrial Building, No.3 Hi Yip Street, Yuen Long, N.T.

 

Therefore, the balance of the Rental Deposit
in this Tenancy Agreement in the amount of HK$49,770.60 should be paid by the Tenant upon signing of this Tenancy Agreement.

 

THE FIFTH SCHEDULE ABOVE REFERRED
TO

Additional Terms

NIL

 

     

    	 	 	21

    

 

AS
WITNESS the hands of the parties hereto the day and year first above written.

 

	SIGNED by	)	 
	 	)
	director(s)/authorized person(s) 	)
	for and on behalf of the Landlord	)
	in the presence of:-	)

 

	SIGNED by	)	 
	 	)
	director(s)/authorized person(s) 	)
	for and on behalf of the Tenant	)
	in the presence of:-	)Exhibit 10.8

 

 

 

 

 

 

 

 

 

 

 

Shenzhen Premises Lease

 

 

 

 

Contract

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Prepared by Rental Property Management
Office of Shenzhen Municipality

  

     

     

    

Premises Lease Contract

 

	Lessor
    (Party A): 	Zhou Zongnan and Lu Rongxia

	 	 

 

	Premises
    information code card:	4403040030040900004

	 	 

 

	Correspondence address: 	13B, Building No. 6, Meilin Third Village, Futian District, Shenzhen

 

	Post
    code:	518049

	   Contact
    number: 	18938043126

 

	Social
    credit code or valid certificate number: 	430202196409026013, 440301196908141543

	 	 

 

	Authorized
    agent: 	 	 	 

 

	Correspondence
    address: 	 	 	 

 

	Post
    code: 	 	   Contact
    number: 	 

 

	Social
    credit code or valid certificate number: 	 	 	 

 

 

	Lessee (Party B): 	Fit Boxx Import and Export Trading (Shenzhen) Company Limited

	 

  

	Correspondence address: 	Rooms 1304 and 1305, Shenrong Building, 1045 Fuqiang Road, Futian District, Shenzhen

 

	Post
    code: 	518045

	   Contact
    number: 	0755-83584540

 

	Social
    credit code or valid certificate number: 	91440300055133812U

	 	 

 

	Authorized
    agent: 	Huang Jiachuan

	 	 

 

	Correspondence address: 	Rooms 1304 and 1305, Shenrong Building, 1045 Fuqiang Road, Futian District, Shenzhen

  

	Post
    code: 	518045

	   Contact
    number: 	15919415751

 

	Social
    credit code or valid certificate number: 	ID card 445281199403174416

	 	 

 

In accordance with the provisions of the
Contract Law of the People’s Republic of China, Law of the People’s Republic of China on the Administration
of Urban Real Estate , Measures for the Administration of the Lease of Commodity Houses, and Decision of the Standing
Committee of Shenzhen Municipal People’s Congress on Strengthening Security Responsibilities in Premises Lease, both
Parties hereby enter into this Contract through negotiation.

 

Article 1 Party A leases out the premises located at
Rooms 1304 and 1305, Shenrong Building, Huanggang Port, Futian District, Shenzhen (hereinafter referred to as the “Premises”)
for use by Party B.

 

The area of the Premises for lease totals
84.66 square meters. The property owners or legal users thereof are Zhou Zongnan and Lu Rongxia; the name and number
of the real estate rights certificate or other valid certificates evidencing their property rights (right of use) are: Sh. F.
D. Zi No. 3000159320 and 3000159397.

 

Article 2 The rent for the Premises
shall be calculated at the rate of RMB —— yuan (in words: —— yuan) per square meter per month,
and the monthly rent shall be RMB 5,100 yuan (in words: Five Thousand and One Hundred yuan).

 

Article 3 Party B shall pay the
first installment of the rent in the amount of RMB 5,100 yuan (in words: Five Thousand and One Hundred yuan) prior
to Apr. 13, 2017.

 

Article 4 Party B shall pay rent
to Party A prior to:

 

þ
the 13th day of every month;

 

☐
the ______ day in the ______ month of every quarter;

 

☐
the ______ day in the ______ month of every half year; or

 

☐
the ______ day in the ______ month of every year;

 

    	 	1	 

     

    

 

Party A shall issue a tax invoice to Party
B upon receipt of the rent.

 

(One
of the four options above shall be selected by both Parties jointly, and a “✔”
shall be drawn in the ☐ in front of the option selected.)

 

Article 5 The term of lease of the
Premises by Party B is from Apr. 10, 2017 to Apr. 9, 2019.

 

The term provided for in the preceding
paragraph shall not exceed the approved land usage term, and shall be no longer than 20 years ; otherwise the part of the term
in excess of either of such time limits shall be invalid.

 

Article 6 Use of the Premises: Office.

 

The use of the Premises herein shall be
consistent with that specified in the real estate rights certificate, and may not be altered arbitrarily without the approval of
relevant authority.

 

Article 7 Party A shall deliver
the Premises to Party B for use prior to Apr. 10, 2017, and handle relevant handover formalities.

 

Where Party A delivers the Premises later
than the above date, Party B may request to extend the term hereof, which shall be subject to signature confirmation by both Parties
in writing and registration with the competent premises lease registration authority.

 

Article 8 At the time of delivery
of the Premises, both Parties shall confirm the then status of, property attached to, and other relevant circumstances of the Premises
and its ancillary facilities, and specify the same in the attached sheet.

 

Article 9 Party A may, at the time
of delivery of the Premises, charge Party B a security deposit in an amount equivalent to —— month’s (months’)
(no more than three months’) rent, i.e., RMB — yuan (in words: — yuan).

 

Party A shall issue a receipt to Party
B for the collection of the security deposit.

 

Conditions for the return by Party A of
the security deposit to Party B are:

 

		1.	There is no payment
                                         in arrears.

 

		2.	No damage is incurred
                                         to the original facilities in the Premises.

 

		3.	Circumstances of
                                         the security deposit are specified in the attached sheet.

 

☐
One of the conditions shall be met.

 

þ
All of the conditions shall be met.

 

(Either
of the above options shall be selected by both Parties jointly, and a “✔”
shall be drawn in the ☐ in
front of the option selected.)

 

Terms and time of return of the security
deposit: upon the termination hereof without any renewal.

 

In case of any of the following circumstances,
Party A may refuse to return the security deposit:

 

		1.	Arrearage

 

		2.	Sublease

 

		3.	Early termination

 

Article 10 During the lease term,
Party A shall be responsible for paying the fees for the use of the land occupied by the Premises and taxes and ——
fees arising from the lease of the Premises; Party B shall be responsible for paying in a timely manner the water and electricity
bills, sanitation fee, property management fee for the Premises (building), —— fee, and other fees arising from
the use of the Premises.

 

Article 11 Party A shall ensure
that the security of the Premises delivered and its ancillary facilities is in compliance with the provisions of relevant laws,
regulations or rules.

 

Article 12 Party B shall reasonably
use the Premises and its ancillary facilities, and may not use the Premises for any illegal acts; Party A may not interfere with
or hinder the normal and reasonable use of the Premises by Party B.

 

Article 13 Where any damage or failure
which hinders the safe and normal use of the Premises and its ancillary facilities is incurred or occurred during the use of the
Premises by Party B for reasons not attributable to Party B’s fault, Party B shall notify Party A in a timely manner, and
take possible effective measures to prevent further defects; Party A shall make repairs within ___ days upon notification by Party
B, or entrust Party B with repairs straightway; where Party B is unable to notify Party A, or Party A fails to perform its obligations
to make repairs within the aforesaid time limit, Party B may make repairs on behalf of Party A.

 

    	 	2	 

     

    

 

Where immediate repair is required in case
of special emergency, Party B shall first make repairs on behalf of Party A, and notify Party A of relevant circumstances in a
timely manner.

 

The cost of repairs (including reasonable
costs incurred by Party B for making repairs and preventing future defects) under the circumstances specified in the two paragraphs
above shall be borne by Party A. Where Party B fails to perform its obligations specified in the two paragraphs above, and fails
to notify Party A in a timely manner or take possible effective measures, which result in further losses, the cost of repairs for
such (further) losses shall be borne by Party B.

 

Article 14 Where due to any improper
or unreasonable use by Party B, any circumstances impairing security, damage, failure, or other circumstances are incurred or occurred
in the Premises or its ancillary facilities, Party B shall be responsible for making repairs or compensation, and notify Party
A thereof in a timely manner.

 

Where Party B intends to alter the internal
structure or decoration of the Premises, or install any equipment which affects the structure of the Premises, the construction
work may begin only after the design scale, scope, process, materials, and other plans are approved by Party A in writing. Upon
the expiry of the lease term or surrender of tenancy for reasons on the part of Party B, unless otherwise agreed to by both Parties,
Party A may choose one of the following rights:

 

☐
The decorations to the Premises belongs to Party A;

 

þ
To request Party B to restore the Premises to its original status;

 

☐ To
charge Party B the costs actually incurred in the restoration project.

 

(One
of the three options above shall be selected by both Parties jointly, and a “✔”
shall be drawn in the ☐ in
front of the option selected.)

 

Article 15

 

☐
During the lease term, Party B may sublease the Premises in full or in part to others, and handle formalities for the
registration thereof with the competent authority in charge of premises lease, provided that the sublease term shall not
exceed the lease term specified herein;

 

☐
During the lease term, upon written consent of Party A, Party B may handle
with such written certificate on the approval of sublease registration formalities with the competent authority in charge of premises
lease, provided that the sublease term shall not exceed the lease term specified herein;

 

þ
During the lease term, Party B may not sublease the Premises in full or
in part to others.

 

(One
of the three options above shall be selected by both Parties jointly, and a “✔”
shall be drawn in the ☐ in
front of the option selected.)

 

Article 16 Where during the term
hereof, Party A needs to transfer the title to the Premises in part or in full, it shall notify Party B in writing one month prior
to the transfer, and Party B shall have the preemptive right under the same conditions. Party B shall give a reply to Party A in
writing within 5 working days upon receipt of written notification from Party A, otherwise it will be deemed as automatic
waiver.

 

Article 17 During the term hereof,
in case of any of the following circumstances, this Contract may be dissolved or altered:

 

		(I)	Any force majeure occurs, as a result of which this Contract
cannot be performed;

 

		(II)	The Premises is subject to requisition, recovery or dismantling
by the government;

 

		(III)	An agreement is reached by both Parties through negotiation.

 

Article 18 In case of any of the
following circumstances, Party A may, with respect to any loss incurred as a result thereof:

 

þ
1. Request Party B to restore the Premises to its original status;

 

☐
2. Claim for compensation for damages from Party B;

 

☐
3. Refuse to return the security deposit;

 

☐
4. Request Party B to pay liquidated damages in the amount of RMB _____
yuan (in words: __________ yuan).

 

(One
or more of the four options above may be selected by both Parties through negotiation, provided that the 3rd and the
4th options may not be selected concurrently; a “✔”
shall be drawn in the ☐ in
front of the option(s) selected.)

 

(I) Payment for the rent has been delayed
by Party B for more than —— days (1 month);

 

(II) Party A’s losses that may be
caused by any overdue payment by Party B exceed RMB 5,000 yuan;

 

(III) Party B uses the Premises to engage
in any illegal act, which damages public interests or others’ interests;

 

    	 	3	 

     

    

 

(IV) Party B arbitrarily alters the structure
or purpose of the Premises;

 

(V) Party B refuses to bear the liability
for making repairs or paying the cost of repairs in violation of the provisions of Article 14 hereof, which results in serious
damage to the Premises or equipment;

 

(VI) Party B arbitrarily decorates the
Premises without the written consent of Party A and the approval of relevant authority;

 

(VII) Party B arbitrarily subleases the
Premises to any third party.

 

In addition to holding Party B accountable
for compensation for damages or breach of Contract, Party A may propose based on the above circumstances altering the terms hereof
or terminating this Contract and, upon legal service of the notice on the termination hereof, apply for the cancellation of the
premises lease registration ex parte.

 

Article 19 In case of any of the
following circumstances, Party B may, with respect to any loss incurred as a result thereof:

 

þ
1. Claim for compensation for damages from Party A;

 

☐
2. Request Party A to return double the security deposit;

 

☐
3. Request Party A to pay liquidated damages in the amount of RMB ___
yuan (in words: _________ yuan).

 

(One
or more of the three options above may be selected by both Parties through negotiation, provided that the 2nd and the
3rd options may not be selected concurrently; a “✔”
shall be drawn in the ☐ in
front of the option(s) selected.):

 

(I) The delivery of the Premises has been
delayed by Party A for more than —— days (1 month);

 

(II) Party A violates the provisions of
Article 11 hereof, and the security of the Premises is not in compliance with the provisions of relevant laws, regulations or rules;

 

(III) Party A refuses to bear the liability
for making repairs or paying the cost of repairs in violation of the provisions of Article 13 hereof;

 

(IV) Party A reconstructs, expands or decorates
the Premises without the consent of Party B or the approval of relevant authority;

 

(V) Party A requests early dissolution
(termination) hereof without good cause.

 

In addition to holding Party A accountable
for compensation for damages and breach of the Contract, Party B may propose based on the above circumstances altering the terms
hereof or terminating this Contract and, upon legal service of the notice on the termination hereof, apply for the cancellation
of the premises lease registration ex parte.

 

Article 20 After the termination
hereof, Party B shall move out of and return the Premises within 5 days, ensure that the Premises and its ancillary facilities
are intact (except for normal wear and tear), settle all fees payable by Party B, and handle relevant handover formalities.

 

Where Party B fails to move out of or return
the Premises within such time limit, Party A may recover the Premises in accordance with the provisions of the law or this Agreement,
and charge Party B compensation in an amount equivalent to double the rent for the period of delay.

 

Article 21 Where Party B needs to
continue to rent the Premises upon the expiry of the lease term hereunder, it shall make a request for the renewal of lease to
Party A 1 month prior to the date of expiry of the lease term; under the same conditions, Party B shall have the preferential
right to rent the Premises.

 

Where both Parties have reached an agreement
on the renewal of the lease, they shall execute a new contract, and conduct re-registration with the competent authority in charge
of premises lease.

 

Article 22 Both Parties shall execute
a Letter of Responsibility for Premises Lease Security Management in Shenzhen. The Premises provided by Party A shall meet
the standards and conditions for safe use, and shall not pose any security risk. The building and fire equipment, gas facilities,
power facilities, entrances and exits, and passages of the Premises shall meet the administrative provisions or standards of the
government on safe production, fire protection, public security, environmental protection, sanitation, and etc. Party B shall use
the Premises in strict accordance with the administrative provisions or standards of functional departments of the government on
safe production, fire protection, public security, environmental protection, sanitation, and etc., and is obliged to ensure that
its use of the Premises does not pose any security risks. All terms provided for herein shall be complied with by both Parties
conscientiously. In case of any breach of contract by either Party, such Party shall bear corresponding liability for breach of
contract as provided for herein.

 

    	 	4	 

     

    

 

Article 23 Anything not covered
herein may be specified by both Parties in the attached sheet, the content of which shall, as an integral part hereof, upon signature
and seal by both Parties, have the same effect as this Contract.

 

Where any agreement on any alteration of
the content hereof is reached by both Parties during the lease term, both Parties shall conduct registration with the original
authority in charge of premises lease registration within thirty days after the conclusion of such agreement.

 

Article 24 Any dispute between both
Parties arising from this Contract shall be settled through negotiation; where such negotiation fails, an application may be filed
with the competent authority in charge of premises lease for mediation, or:

 

☐
An application may be filed with Shenzhen Court of International Arbitration
for arbitration;

 

☐
An application may be filed with Shenzhen Arbitration Commission for arbitration;

 

☐
A lawsuit may be filed with the people’s court at the place where
the Premises is located.

 

(One
of the above means of dispute settlement shall be selected by both Parties through negotiation, and a “✔”
shall be drawn in the ☐ in
front of the option selected.)

 

Article 25 Both Parties agree that
the following correspondence addresses are those for the delivery of both Parties’notices or documents:

 

Party A’s address for service: Room
13B, Building No. 6, Meilin Third Village, Futian District, Shenzhen

 

Party B’s address for service: Room
13B1, Shenrong Building, 1045 Fuqiang Road, Futian District, Shenzhen

 

In absence of the above addresses, the
correspondence addresses of both Parties specified herein shall be the addresses for service.

 

The addresses for service shall remain
valid without notification on the change thereof. Any notice or document sent by either Party to the other Party shall be deemed
served upon mailing to the address for service. Where any document mailed to any of the above addresses is returned by the post
office, the date of return shall be deemed as the date of service.

 

Article 26 This Contract shall take
effect upon the execution hereof.

 

Both Parties shall handle formalities for
premises lease registration with the competent authority in charge of premises lease within thirty days as of the date of execution
hereof.

 

Article 27 The Chinese text hereof
shall be the original hereof.

 

Article 28 This Contract is made
in 3 copies, with Party A holding 1 copy, Party B holding 1 copy, the contract registration authority holding
____ copy (copies), and relevant authority holding copy (copies) respectively.

 

	Party A (signature and seal): Zhou Zongnan	 
	Legal representative:	 
	Contact number: 18938043126	 
	Bank account number:	 
	Authorized agent (signature and seal):	_____(MM)_____(DD) ________(YY)
	 	 
	Party B (signature and seal):	(Seal: Fit Boxx Import and Export Trading (Shenzhen) Company Limited)
	Legal representative:	 	 
	Contact number:	 	 
	Bank account number:	 	 
	Authorized agent (signature and seal):	_____(MM)_____(DD) ________(YY)

 

    	 	5	 

     

    

 

(Attached sheet)

 

The security deposit in the amount of RMB
9,500 yuan (in words: Nine Thousand and Five Hundred yuan) specified in the Premises Lease Contract executed by both Parties
on Mar. 31, 2015 is retained in this Premises Lease Contract.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

     

     

    

 

Special Notes

 

1. Prior to the execution hereof, both
Parties shall read carefully this Contract, and may make additions or supplements to, or reduce, select, or modify the terms of
this Contract through negotiation. After the execution hereof, the content hereof that has not been modified and that filled out
by both Parties (upon confirmation by both Parties by signature or seal) are deemed as the provisions hereof. Anything herein that
is selected, supplemented, filled out and modified in handwritten form shall take effect in priority.

 

2. Prior to the execution hereof, the Lessor
shall present to the Lessee the real estate rights certificate or other valid certificates proving its ownership of real estate
rights and those proving its identity and legal capacity as the Lessor. Where the premises is in the custody of others, a letter
of authorization shall be provided; in case of lease of any co-owned premises, a certificate proving that all co-owners consent
to the lease and a letter of authorization shall be provided; the Lessee shall present to the Lessor a certificate proving its
identity or legal capacity as the Lessee.

 

3. Both Parties shall execute and perform
this Contract in accordance with the law, and may not violate legal provisions on relevant procedures or engage in any illegal
acts.

 

4. Upon execution, this Contract shall
be legally binding upon both Parties. Both Parties shall perform their obligations as agreed to between them, and may not arbitrarily
alter or dissolve this Contract in violation of the law or without any agreement reached by both Parties.

 

5. Anything filled out by any Party hereto
shall be filled out with a carbon ink or blue-black ink writing brush, pen, or signature pen, and confirmed by signature or seal.

 

6.
The blanks (underlined spaces) in some terms of the text hereof may be filled out by the Parties; there are also options (marked
with ☐) provided
in some terms hereof for selection by the Parties.

 

7. Upon the execution hereof, both Parties
shall jointly handle formalities for registration or filing with the competent authority in charge of premises lease in a timely
manner.

 

8. Both Parties to the lease may based
on their actual needs decide on the copies of the original hereof, and check the same carefully at the time of execution hereof,
so as to ensure that the content of each copy hereof is the same; in any case, both Parties shall keep at least one original hereof
respectively.

 

9. In case of any material change or dissolution
hereof, the Parties shall handle relevant formalities with the original registration authority in a timely manner.

 

10. Both Parties may negotiate about how
to dispose of the articles left in the Premises upon the expiry of the lease term and dissolution hereof, and specify the same
in the attached sheet.

 

11. The following content shall be filled
out in Article 6 “Use of the Premises” hereof: business, office, plant, warehouse, complex, and others.

 

     

     

    

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Letter of Responsibility for

  

 

Premises Lease Security Management in Shenzhen

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Prepared and printed by Shenzhen Flowing
Population and Rental Property Comprehensive Management Office

 

     

     

    

 

This letter of responsibility is formulated
in accordance with the provisions of relevant laws and regulations in order to implement the Decision of the Standing Committee
of Shenzhen Municipal People’s Congress on Strengthening Security Responsibilities in Premises Lease, further specify
security responsibilities in premises lease, strengthen rental property security management, and safeguard the life and property
safety of the masses.

 

I. The lessors and lessees of premises
for production and operation (including commodity markets and their stalls and counters), offices, residence, and other premises
within the administrative division of Shenzhen are persons responsible for the security of rental properties.

 

II. A lessor shall have a premises ownership
certificate or other documentation required by Shenzhen municipal government to lease the premises. Where any person is entrusted
with the lease of any premises, the premises owner shall execute a written entrustment agreement with such person to specify their
respective security responsibilities. Sublessors, other persons who are actually engaged in any lease, and premises lenders shall
bear security responsibilities as lessors.

 

III. Lessors shall ensure that the buildings
for lease and their exits and entrances, passages, and fire, gas, and electric facilities shall in compliance with the provisions
of relevant laws and regulations and security standards provided for by relevant administrative authorities. Where relevant license
or approval document is required for lease as provided for by laws and regulations, the same shall be obtained by the lessors.

 

IV. Where any lessee uses any rental property
for production and operation, the lessor shall request it to present prior to its commencement of business relevant certificate
proving that fire-fighting formalities have been handled and industrial and commercial business license or license for commencement
of business.

 

V. Lessors shall inspect the safe use and
nature of use of the rental properties and make written records at least once every quarter, for which the lessees shall render
cooperation and sign on such records; where for objective reasons any lessor is unable to conduct inspection in person, it shall
entrust others with the inspection.

 

VI. Where any lessor finds out through
inspection that any rental property poses security risk, or the lessee alters without authorization the nature of use of the rental
property, it shall report to the rental property comprehensive management authority or other relevant administrative authority.

 

VII. Lessees shall use premises in a safe
and reasonable manner in accordance with the provisions of laws and regulations and premises lease contracts, and may not arbitrarily
alter the structure and nature of use of the premises; where any lessee finds out that any rental property poses security risk,
it shall forthwith notify the lessor, and at the same time report to the rental property comprehensive management authority or
other relevant administrative authority.

 

VIII. Lessees may not arbitrarily alter
the functions of rental properties, and the use of any rental property to engage in the hotel industry, catering, entertainment,
internet cafes, workshops, and other business activities shall be in compliance with relevant provisions;

 

It is forbidden to use any rental property
for gambling, drug abuse and trafficking, prostitution, pornography, forgery of documents, printing of illegal publications, manufacture
and sale of counterfeit and fake commodities, harboring of criminals, harboring and sale of stolen goods, and other illegal and
criminal acts;

 

It is forbidden to use any rental property
for pyramid sale or the same in disguised forms, unlicensed operations, unlicensed clinics, illegal medical practice, illegal exploitation
of renewable resources, and other illegal acts;

 

It is forbidden to use any rental property
for unlicensed employment agency, matchmaking agency, training, real estate agency, and other fraud activities;

 

It is forbidden to use any rental property
for the production, storage and operation of flammable, explosive, toxic, radioactive, and other dangerous articles.

 

IX. Both Parties to any lease shall assist
and cooperate with the rental property comprehensive management authority in the inspection and management of the security of the
rental property, and truthfully provide relevant materials and information.

 

X. Where any lessor or lessee fails to
perform its security responsibilities in accordance with the law, which results in any personal or property damage to others, the
victims may request the lessor or lessee to bear corresponding liability for compensation in accordance with the law.

 

	Lessor: (signature and seal) (Signature: Zhou Zongnan)	Lessee: (signature and seal)
	 	 
	Agent and custodian: (signature and seal)	(Seal: Fit Boxx Import and Export 
	 	 
	 	  Trading (Shenzhen) Company Limited)
	 	 
	Contact number: 18938043126	Contact number:

 

(MM)     (DD),     (YY)

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