Document:

Sublicense Agreement

 Exhibit 10.8 
 SUBLICENSE AGREEMENT 
 THIS SUBLICENSE AGREEMENT (hereinafter, the
“Agreement”) is made as of the 18th day of November, 2011 (the “Effective Date”), by and between TSG HIP, Inc., a Delaware corporation (hereinafter, “LICENSOR”), and Red Bullet Racing Corporation, a Delaware corporation
(hereinafter, “LICENSEE”). 
 WITNESSETH 

WHEREAS, LICENSOR has or may have certain rights in, to and under the name “Red Bullet,” including for use in the horse racing
industry, and has acquired or may in the future acquire other trademark rights relating to this mark, including goodwill and common law rights (hereinafter, the “RIGHTS”), in each case pursuant to an arrangement between LICENSOR and The
Alpen House Racing ULC or an affiliate thereof (hereinafter, the “ALPEN HOUSE LICENSE”); and 
 WHEREAS, LICENSEE is
desirous of obtaining a non-exclusive sublicense to LICENSOR’s rights under the ALPEN HOUSE LICENSE to use the RIGHTS, and LICENSOR is willing to grant such a sublicense subject to the terms and conditions hereof. 

NOW, THEREFORE, in consideration of the mutual promises and conditions herein and for other consideration, the receipt and sufficiency of
which are hereby expressly acknowledged, the parties hereto, intending to be legally bound hereby, agree as follows: 

Article I – Definitions  
 1.1     As used herein, the term LICENSED SERVICES means any and all services related to the acquisition, management, care, training and racing of thoroughbred race horses to be used
in association with the RIGHTS. 
 1.2     As used herein, “LICENSED TERRITORY” shall mean the
world. 
 Article II – Grant of License 

2.1     LICENSOR hereby grants to LICENSEE a royalty-free, perpetual, non-exclusive license to all of LICENSOR’s
rights acquired under the ALPEN HOUSE LICENSE to use the RIGHTS in connection with the offer, marketing, promotion, providing and sale of LICENSED SERVICES in a lawful manner, in the LICENSED TERRITORY, during the term of this Agreement. LICENSED
SERVICES offered by LICENSEE shall be marketed, promoted, provided and sold only in accordance with the specifications and quality standards of LICENSOR, which shall be those specifications and quality standards imposed on LICENSOR pursuant to the
license under which this sublicense is granted. 
 2.2     LICENSOR reserves all rights under the ALPEN
HOUSE LICENSE with respect to the RIGHTS not expressly licensed to LICENSEE hereunder, and LICENSOR may grant licenses to others to use the RIGHTS in any manner whatsoever in connection with any goods or services whatsoever. 

2.3     Except insofar as LICENSEE may use the RIGHTS in accordance with the provisions of this Agreement, LICENSEE
shall not use or register or attempt to register any 

  
 Page 1 of 4

 
RIGHTS, service mark, or other designation that may be, in LICENSOR’S opinion, the same or confusingly similar to the RIGHTS. 

Article III – Quality Control 
 3.1     LICENSOR reserves the exclusive right to establish standards for and exercise control over the nature and quality of the LICENSED SERVICES, and the advertising and promotional
materials, employing the RIGHTS, and LICENSEE shall adhere to such standards. 
 3.2     LICENSOR reserves
the exclusive right to determine the method and form of use and display of the RIGHTS to the extent reasonably required or desirable as a matter of RIGHTS law and LICENSEE will be bound by all such decisions of LICENSOR and will so use and display
the RIGHTS. 
 3.3     LICENSOR and its designees shall have the right, at all reasonable times, to inspect
the LICENSED SERVICES and LICENSEE’S facilities for providing the same. 
 3.4     In the event that
the quality, usage and/or notice standards referred to above are not maintained throughout the term of this Agreement, then, upon receipt of written notice from LICENSOR, LICENSEE shall immediately discontinue any and all offering for sale, sale,
advertising, promotion, and providing of the LICENSED SERVICES in connection with which the said quality, usage, or notice standards have not been met and shall thereafter immediately take all measures to rectify said deficiencies unless directed
otherwise by LICENSOR. 
 3.5     LICENSEE shall market LICENSED SERVICES in a manner consistent with high
quality products and services so that such marketing shall not reflect negatively or adversely upon the LICENSED SERVICES, the good name of LICENSOR or the RIGHTS. 

3.6     Whenever LICENSEE uses registered trademarks included in the RIGHTS, LICENSEE shall affix
an appropriate trademark notice and agrees to use the symbol “®” in connection with its use of the
RIGHTS to the extent federally registered, or “TM” where the mark has not been registered federally, and in each instance where appropriate accompanied by the words “Reg. TM of LICENSOR” or a reasonable facsimile thereof or such
other reference as may be designated by LICENSOR from time to time. 
 Article IV – TRADEMARKS Protection

 4.1     LICENSEE agrees that it shall not at any time apply for any trademark protection which would
affect LICENSOR’S ownership of any rights in the RIGHTS, nor file any document with any government authority or take any other action which could affect LICENSOR’S ownership of the RIGHTS, or aid or abet anyone else in doing so.

 4.2     LICENSEE will claim no interest in the RIGHTS beyond those rights expressly granted by this
Agreement. 
 Article V – Infringement 

5.1     LICENSEE agrees to notify LICENSOR promptly if LICENSEE becomes aware of: (i) any uses of, or
applications or registrations for, a RIGHTS or service mark that conflicts with the RIGHTS; (ii) any act of infringement, imitation or unfair competition involving the RIGHTS; (iii)

  
 Page 2 of 4

 
any allegations or claims, whether or not made in a lawsuit, that the use of the RIGHTS infringes any RIGHTS or service mark or other right of another entity. LICENSOR shall have the sole right
to determine whether or not any action shall be taken on account of any such infringement, imitation or unfair competition at LICENSOR’S cost and expense. 
 5.2     LICENSEE shall not have the right to institute or settle any claim or litigation asserting or affecting the RIGHTS or to take any action on account of the foregoing activities
without first obtaining LICENSOR’S written consent. 
 5.3     LICENSEE agrees to assist LICENSOR at
LICENSOR’S cost and expense, to the extent necessary in the procurement of any protection or to protect any of LICENSOR’S rights to the RIGHTS. 
 Article VI – Termination 
 6.1     LICENSOR
may terminate this Agreement immediately upon written notice: (a) if LICENSEE files or has filed against it a petition in bankruptcy or judicial or administrative declaration of insolvency; (b) if LICENSEE ceases to exist or to do business
and has completed the liquidation of its business; (c) if there is a change of 50% or more in the shareholder control of LICENSEE; (d) on any material breach or default of this Agreement by LICENSEE that is not cured within 30 days of
written notice from LICENSOR; or (e) at any time after January 31, 2014. 
 6.2     Upon
termination of this Agreement for any reason, nothing herein shall be construed to release either party from any obligation that matured prior to the effective date of such termination. 

6.3     Upon termination of this Agreement for any reason LICENSEE shall discontinue use of the RIGHTS and
(a) not use any trademarks, service marks, or other designations that, in the LICENSOR’S opinion, are confusingly similar thereto; and (b) dispose of any unused promotional materials containing the RIGHTS, designs or proprietary
rights of LICENSOR in accordance with instructions from LICENSOR. 
 Article VII – Assignment/Sublicense

 7.1     LICENSEE shall not assign, sublicense or transfer all or any portion of this agreement
without the express written consent of LICENSOR. Any assignment, sublicense or transfer without the express written consent of LICENSOR shall be void ab initio and any such attempt to assign will result in immediate breach and cancellation of
this Agreement. 
 Article VIII – Miscellaneous Provisions 

8.1    (a)       All notices required or desired to be given hereunder shall be deemed
given when a properly addressed certified or registered letter bearing proper postage is deposited in the United States mails. 
  

	 	(b)	Notices to the parties shall be sent to the parties’ respective addresses. 

 

	 	(c)	Either party may in writing advise the other of any change in the address to which it desires notices to be sent. 

  
 Page 3 of 4

 8.2     This Agreement represents the entire Agreement between the
parties supersedes all prior or contemporaneous oral or written understandings and may not be modified, added to or waived in whole or in part except by a writing executed by the parties hereto. 

8.3     This Agreement shall be interpreted in accordance with, and shall be governed by, the laws of the State of
Florida. 
 8.4     EXCEPT AS OTHERWISE EXPRESSLY SET FORTH IN THIS AGREEMENT, LICENSOR MAKES NO
REPRESENTATIONS AND EXTENDS NO WARRANTIES OF ANY KIND, EITHER EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED TO WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, AND VALIDITY OF THE RIGHTS LICENSED HEREUNDER. 

8.5     This Agreement may be executed in two or more counterparts, each of which shall be deemed an original and all
of which together shall constitute one and the same instrument. 
 8.6     If any provision of this
Agreement is held to be invalid or unenforceable for any reason, the remaining provisions shall continue in full force and effect without being impaired or invalidated in any way. 

8.7     A waiver of any breach of any provision of this Agreement shall not be deemed a waiver of any repetition of
such breach or in any manner affect any other terms or conditions of this Agreement. 
 8.8     Section
headings have been included in this Agreement merely for convenience of reference. They are not to be considered part of, or to be used in interpreting, this Agreement. 
 IN WITNESS WHEREOF, the parties hereto have executed or caused this Agreement to be executed, in duplicate, by their duly authorized representatives as of the day and year first above written. 

 

									
	 LICENSOR
  

TSG HIP INC.
	 	 	 	 LICENSEE
  

RED BULLET RACING CORPORATION

					
	By:	 	/s/ Michael Rogers	 		 	By:	 	/s/ Lyle Strachan
	Name:	 	Michael Rogers	 		 	Name:	 	Lyle Strachan
	Title:	 	President and Secretary	 		 	Title:	 	Chief Financial Officer

  
 Page 4 of 4Fifth Season International Inc.: Exhibit 10.1 - Filed by newsfilecorp.com

Exhibit 10.1

EXECUTIVE EMPLOYMENT AGREEMENT 

THIS EXECUTIVE EMPLOYMENT AGREEMENT (the “Agreement”) is dated as of December 21, 2011, by and between Fifth Season International Inc., a Delaware corporation (hereinafter referred to as
“Company”) and Glen Shear (hereinafter referred to as the “Executive”). 

BACKGROUND 

The Board of Directors of the Company desires to appoint Glen Shear as the Chief Financial Officer of the Company, and the Executive desires to be so appointed for such position and to perform the duties required of
such position in accordance with the terms and conditions of this Agreement and applicable Delaware Corporation law. 

AGREEMENT 

In consideration for the above recited promises and the mutual promises contained herein, the adequacy and sufficiency of which are hereby acknowledged, Company and the Executive hereby agree as follows: 

1. DUTIES. The Executive will perform such duties and services for the Company as may be designated from time to time by the Board of Directors of the Company (the “Board”) or the Chief Executive
Officer of the Company. The Executive agrees to serve the Company faithfully and to the best of his ability under the direction of the Board and the Chief Executive Officer of the Company and to carry out the functions typically performed by a Chief
Financial Officer, including but not limited to responsibility for (i) all financial management and accounting for the Company, (ii) compliance with local GAAP principles (and in a form that can be converted into US GAAP) and all applicable
regulatory authorities, and (iii) supervising the Company’s compliance with its SEC reporting obligations, its internal controls and other corporate governance obligations, the Sarbanes-Oxley Act and other applicable securities laws.

2. TERM. The term of this Agreement (the “Term”) shall commence as of November 2, 2011 (the “Effective Date”) and shall continue until the Executive’s removal or resignation from all
executive positions with the Company. 

 3. COMPENSATION. The Executive is and shall be compensated by the Company for all services provided to the Company in accordance with the terms of the following: 

a. No Salary. The Executive agrees that he shall not be entitled to receive a salary during the term of this Agreement unless pursuant to an amendment hereto signed by the Executive and the Company. So long as
the Executive remains a non-salaried employee, the Executive shall not receive any of the social insurance benefit required by the government. 

b. Restricted Stock. As compensation for his services to the Company hereunder, the Executive shall receive Twenty Thousand (“20,000”) restricted shares of the Company’s common stock, effective
as of the Effective Date. 

c. Other Compensation. The Executive shall also be eligible to receive such
other compensation, and to participate in such other Company executive benefit plans, as is determined by the Company’s Board of Directors.

4. EXPENSES. In addition to the compensation provided in paragraph 3 hereof, the Company will reimburse the Executive for reasonable and necessary business related expenses incurred in good faith in the
performance of the Executive’s duties for the Company.  Such payments shall be made by the Company upon submission by the Executive of a signed statement itemizing the expenses incurred.  Such statement shall be accompanied by sufficient
documentation to support the expenditures. 

5. CONFIDENTIALITY. The Company and the Executive each acknowledge that, in order for the intents and purposes of this Agreement to be accomplished, the Executive shall necessarily be developing and obtaining
access to certain confidential information concerning the Company and its affairs, including, but not limited to business methods, marketing and sales plans and strategies, information systems, financial data and strategic plans which are unique
assets of the Company (“Confidential Information”). The Executive covenants not to, either directly or indirectly, in any manner, utilize or disclose to any person, firm, corporation, association or other entity any Confidential
Information during the Term and for a period of 60 months thereafter. 

6. NON-COMPETITION.  During the Term and for a period of thirty-six (36) months following the end of the Term (the "Restricted Period"), the Executive shall not, directly or indirectly, unless otherwise approved
by the Company’s Board of Directors (including in any such approval the affirmative vote or consent of a majority of the Company’s independent directors): 

a. in any manner whatsoever engage in any capacity in any business competitive with the Company's current lines of business (which comprise the design, development, marketing, sale, production and distribution of
women’s apparel) or any business currently proposed to be engaged in by the Company, any of its subsidiaries (including the Company) or by any Company-controlled affiliates, with business currently proposed to be engaged in determined by
reference to those future business developments described in the Dynasty Energy Resources, Inc. offering disclosure materials to investors in its private placement consummated concurrently with the reverse merger transaction between the Company and
Dynasty Energy Resources, Inc. (collectively, the "Company's Business") for the Executive’s own personal benefit or for the benefit of any person or entity other than the Company or any subsidiary or Company-controlled affiliate; or

b. have any interest as owner, sole proprietor, shareholder, partner, lender, director, officer, manager, employee, consultant, agent or otherwise in any business competitive with the Company's Business; provided,
however, that: (i) the Executive may hold, directly or indirectly, solely as an investment, and with now role in operations or management, not more than five percent (5%) of the outstanding securities of any person or entity notwithstanding the fact
that such person or entity is engaged in a business competitive with the Company's Business; and (ii) family relatives of the Executive may own, control and manage the business of the company without such activities being attributed to the
Executive, provided the Executive is at all time in compliance with the terms and conditions of the Non-Competition Agreement between it and the Company. 

2 

In addition, during the Restricted Period, the Executive shall not publicize, market or otherwise associate himself and/or his name, or any derivative of his name, whether in Chinese or English, in connection with the
development or marketing of any any trademarks, designs or any other property for use in the Company's Business on behalf of any person or entity other than the Company, its subsidiaries and Company-controlled affiliates. 

7. NON-SOLICITATION OF EMPLOYEES.  During the Term and during the Restricted Period, the Executive shall not, directly or indirectly, solicit the employment of, or offer employment to, any individual who is or
was at any time within the 12 months preceding such solicitation or such offer an employee or full-time consultant to the Company or to any subsidiary or Company-controlled affiliate, provided, however, that general advertising to hire employees not
directed to any specific individual shall not be deemed solicitation of employment for purposes of the foregoing. 

8. ENFORCEMENT OF RESTRICTIVE COVENANTS; SPECIFIC PERFORMANCE. It is expressly understood by and between the Company and the Executive that the covenants contained in Sections 5, 6 and 7 are an essential element
of this Agreement and that but for the agreement by the Executive to comply with these covenants and thereby not to diminish the value of the organization and goodwill of the Company or any Company-controlled affiliate or subsidiary of the Company,
including relations with their employees, clients, customers and accounts, the Company would not enter into this Agreement or permit the Company or any other subsidiary to enter into compensatory arrangements with the Executive. If, at any time, the
provisions of Sections 5, 6 or 7 shall be determined to be invalid or unenforceable by reason of being vague or unreasonable as to area, duration or scope of activity, such Section shall be considered severable and shall become and shall be
immediately amended solely with respect to such area, duration and scope of activity as shall be determined to be reasonable and enforceable by the court or other body having jurisdiction over the matter and the Executive hereby agrees that such
Section as so amended shall be valid and binding as though any invalid or unenforceable provision had not been included herein. Except as provided in Sections 5, 6 or 7, nothing in this Agreement shall prevent or restrict the Executive from engaging
in any business or industry in any capacity. Without intending to limit the remedies available to the Company or its affiliates or subsidiaries, the Executive hereby agrees that damages at law would be an insufficient remedy to the Company or its
affiliates or subsidiaries in the event that the Executive violates any of the provisions of Section 5, 6 or 7, and that, in addition to money damages, the Company or its affiliates or subsidiaries may apply for and, upon the requisite showing,
obtain injunctive relief in any court of competent jurisdiction to restrain the breach or threatened breach of or otherwise to specifically enforce any of the covenants contained in Section 5, 6 or 7.

9. ENFORCEMENT OF OBLIGATIONS TO, AND RIGHTS OF, OPERATING COMPANY AND OTHER SUBSIDIARIES. The Executive acknowledges and agrees that the Executive’s duties and obligations to, and the rights of, the
Company’s subsidiaries, including the Company, under the Executive’s employment agreement with the Company or with the Operating Company, are of material importance to the Company, and that the Company has a significant and continuing
interest in the enforcement of those obligations and duties and assertion of the Operating Company’s rights under those agreements. Therefore the
Executive agrees that the Company shall be entitled to enforce those rights on behalf of the Company as if the Company were a direct party to those agreements, and the Executive waives any right to object to the Company’s standing to appear in
any proceeding, whether in the People’s Republic of China or elsewhere, in lieu of, or in addition to, the Company.

3 

10. ARBITRATION. Except as provided in Section 8, and except to the extent not permitted by applicable local law for all enforcement proceedings on behalf of any subsidiary pursuant to Section 9, all
controversies, claims or disputes arising out of or relating to this Agreement shall be settled by binding arbitration under the applicable rules of Arbitration in Delaware, as the sole and exclusive remedy of either party, and judgment upon such
award rendered by the arbitrators(s) may be entered in any court of competent jurisdiction. The costs of arbitration shall be borne by the unsuccessful party or otherwise as determined by the arbitrators in their discretion. 

11. TERMINATION. With or without cause, the Company and the Executive may each terminate this Agreement at any time upon ten (10) days written notice, and the Company shall be obligated to pay to the Executive
the compensation and expenses due up to the date of the termination. If the Executive voluntarily resigns prior to December 31st of any year, the Company shall be entitled to receive, upon written request by the Company, a prorated refund of the
portion of the Base Parent Holding Company Cash Compensation that relates to the period after the termination date.  Such written request must be submitted within ninety (90) days of the termination date. Nothing contained herein or omitted herefrom
shall prevent the shareholder(s) of the Company from removing the Executive as a director with immediate effect at any time for any reason. 

13. INDEMNIFICATION. The Company shall indemnify, defend and hold harmless the Executive, to the full extent allowed by the law of the State of Delaware and as provided by, or granted pursuant to, any charter
provision, bylaw provision, agreement (including, without limitation, the Indemnification Agreement executed herewith), vote of stockholders or disinterested directors or otherwise, both as to action in the Executive’s official capacity and as
to action in another capacity while holding such office.

14. EFFECT OF WAIVER.  The waiver by either party of the breach of any provision of this Agreement shall not operate as or be construed as a waiver of any subsequent breach thereof. 

 15. NOTICE. Any and all notices referred to herein shall be sufficient if furnished in writing at the addresses specified on the signature page hereto or, if to the Company, to the Company’s address as specified in filings made by the
Company with the U.S. Securities and Exchange Commission. 

16. GOVERNING LAW. This Agreement shall be interpreted in accordance with, and the rights of the parties hereto shall be determined by, the laws of the State of Delaware without reference to that state’s
conflicts of laws principles. 

4 

17. ASSIGNMENT. The rights and benefits of the Company under this Agreement shall be transferable, and all the covenants and agreements hereunder shall inure to the benefit of, and be enforceable by or against,
its successors and assigns. The duties and obligations of the Executive under this Agreement are personal and therefore the Executive may not assign any right or duty under this Agreement without the prior written consent of the Company. 

18. MISCELLANEOUS. If any provision of this Agreement shall be declared invalid or illegal, for any reason whatsoever, then, notwithstanding such invalidity or illegality, the remaining terms and provisions of
the within Agreement shall remain in full force and effect in the same manner as if the invalid or illegal provision had not been contained herein. 

19. ARTICLE HEADINGS. The article headings contained in this Agreement are for reference purposes only and shall not affect in any way the meaning or interpretation of this Agreement. 

20. COUNTERPARTS.  This Agreement may be executed in any number of counterparts, all of which taken together shall constitute one instrument. Facsimile execution and delivery of this Agreement is legal, valid and
binding for all purposes. 

21. ENTIRE AGREEMENT. Except as provided elsewhere herein, this Agreement sets forth the entire agreement of the parties with respect to its subject matter and supersedes all prior agreements, promises,
covenants, arrangements, communications, representations or warranties, whether oral or written, by any officer, employee or representative of any party to this Agreement with respect to such subject matter. 

[Signature Page Follows]

5 

IN WITNESS WHEREOF, the parties hereto have caused this Executive Employment Agreement to be duly executed and signed as of the day and year first above written. 

FIFTH SEASON INTERNATIONAL INC.

BY:  /s/ Shaoping Lu                                                    

        Name: Shaoping Lu 

        Title: Chief Executive Officer 

/s/ Glen Shear                                                                

Glen Shear

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00197-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00197-of-00352.parquet"}]]