Document:

Exhibit 10.16

 

AMENDMENT TO

ESCROW DEPOSIT AGREEMENT

 

THIS AMENDMENT TO ESCROW
DEPOSIT AGREEMENT is made effective as of October 31, 2018 (the “Amendment”), by and among NETWORK 1 FINANCIAL
SECURITIES, INC. (the “Underwriter”), WAH FU EDUCATION GROUP LIMITED (the “Company”) and
Continental Stock Transfer & Trust Company (the “Escrow Agent”).

  

W I T N E S S E T H

 

WHEREAS, the Company,
Underwriter, and Escrow Agent have entered into that certain Escrow Agreement dated as of August 2, 2018 (the “Agreement”);
and

 

WHEREAS, pursuant to
Section 6 of the Agreement, the amendments contemplated by the parties hereto must be contained in a written agreement signed by
an authorized representative of such party; and

 

WHEREAS, the Company
and Underwriter desire to extend the final termination date to December 31, 2018 and have created a Supplement to the Offering
Memorandum (the “Supplement”) to amend the Offering accordingly and provide to Subscribers in the Offering in
order to disclose the changes to the Offering and certain other matters;

 

WHEREAS, the Company
and Underwriter will provide all Subscribers to the Offering with the Supplement along with the Prospectus and require those Subscribers
who have invested in the Offering without first receiving the Supplement to reconfirm his, her or its participation in the Offering
or withdraw from the Offering;

 

WHEREAS, the Company
and Underwriter will file with the SEC the Supplement to the Prospectus; and

 

WHERAS, the Company,
Underwriter and Escrow Agent hereby waive any notice under Section 2.3 of the Agreement.

 

NOW, THEREFORE, the
parties hereto, in consideration of the mutual promises herein contained and for other good and valuable consideration, the receipt
and sufficiency of which is hereby acknowledged, hereby agree to amend the Agreement as follows:

 

1. Definitions.
Unless otherwise specified herein, each term used herein that is defined in the Agreement shall have the meaning assigned to such
term in the Agreement.

 

2. Amendments.

 

The Offering
Period shall be extended to December 31, 2018.

 

    1

     

    

 

3. Date of Effectiveness.
This Amendment will become effective as of the date first written above when the Escrow Agent shall have received counterparts
of this Amendment duly executed and delivered by the parties hereto (the “Effective Date”).

 

4. Effect of Amendment.
Except as expressly amended by this Amendment, all of the terms and provisions of the Agreement are and shall remain in full force
and effect and are hereby ratified and confirmed by the parties hereto. Without limiting the generality of the forgoing, the amendments
contained herein will not be construed as an amendment to or waiver of any other provision of the Agreement or as a waiver of or
consent to any further or future action on the part of any party hereto that would require the waiver or consent of any other party
hereto. On and after the Effective Date, each reference in the Agreement to “this Agreement”, “the Agreement”,
“hereunder”, “hereof”, “herein” or words of like import will mean and be a reference to the
Agreement as amended by this Amendment.

 

5. Governing Law.
This Amendment is governed by and construed in accordance with, the laws of the state of New York.

 

6. Counterparts.
This Amendment may be executed in several counterparts or by separate instruments and all of such counterparts and instruments
shall constitute one agreement, binding on all of the parties hereto.

 

[Remainder of Page Intentionally Left Blank]

 

    2

     

    

 

IN
WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed on the date first above written.

 

	THE
    ISSUER	 	THE
    ESCROW AGENT
	 	 	 
	WAH
    FU EDUCATION GROUP LIMITED	 	CONTINENTAL
    STOCK TRANSFER & TRUST COMPANY
	 	 	 
	By:	/s/
David Yu	 	By:	 /s/ Francis E. Wolf, Jr.
	 	Name: David Yu	 	 	Name: Francis E. Wolf, Jr.
	 	Title: Chairman	 	 	Title: Vice President
	 	 	 
	THE
    UNDERWRITER	 	 
	 	 	 
	NETWORK
    1 FINANCIAL SECURITIES, INC.	 	 
	 	 	 
	By:	 /s/ Damon D. Testaverde	 	 
	 	Name: Damon D. Testaverde	 	 
	 	Title: Managing Director	 	 

 

[signature
page to Amendment 1 of Escrow Agreement among Network 1, Continental and Wah Fu]

 

    3Exhibit 10.17

 

AMENDMENT TO

ESCROW DEPOSIT AGREEMENT

 

THIS AMENDMENT TO ESCROW
DEPOSIT AGREEMENT is made effective as of February 1, 2019 (the “Amendment”), by and among NETWORK 1 FINANCIAL
SECURITIES, INC. (the “Underwriter”), WAH FU EDUCATION GROUP LIMITED (the “Company”) and
Continental Stock Transfer & Trust Company (the “Escrow Agent”).

 

W I T N E S S E T H

 

WHEREAS, the Company,
Underwriter, and Escrow Agent have entered into that certain Escrow Agreement dated as of August 2, 2018 and amended on October
31, 2018 (the “Agreement”);

 

WHEREAS, pursuant to
Section 6 of the Agreement, the amendments contemplated by the parties hereto must be contained in a written agreement signed by
an authorized representative of such party;

 

WHEREAS, the Company
will file a post-effective amendment with its financial statement for the period ended September 30, 2018 and request the SEC to
declare the amendment effective as soon as practical (such date, the “POS AM Effective Date”);

 

WHEREAS, the Company
and Underwriter desire to extend the final termination date to three weeks after the Effective Date and have created a Supplement
to the Offering Memorandum (the “Supplement”) to amend the Offering accordingly and provide to Subscribers in
the Offering in order to disclose the changes to the Offering and certain other matters;

 

WHEREAS, the Company
and Underwriter will provide all Subscribers to the Offering with the Supplement along with the Prospectus and require those Subscribers
who have invested in the Offering without first receiving the Supplement to reconfirm his, her or its participation in the Offering
or withdraw from the Offering;

 

WHEREAS, the Company
and Underwriter will file with the SEC the Supplement to the Prospectus; and

 

WHERAS, the Company,
Underwriter and Escrow Agent hereby waive any notice under Section 2.3 of the Agreement.

 

NOW, THEREFORE, the
parties hereto, in consideration of the mutual promises herein contained and for other good and valuable consideration, the receipt
and sufficiency of which is hereby acknowledged, hereby agree to amend the Agreement as follows:

 

1. Definitions.
Unless otherwise specified herein, each term used herein that is defined in the Agreement shall have the meaning assigned to such
term in the Agreement.

 

    1

     

    

 

2. Amendments.
The Offering Period shall be extended to February 28, 2019 or three weeks after the POS AM Effective
Date, whichever occurs later, but in no event later than March 31, 2019.

 

3. Date of Effectiveness.
This Amendment will become effective as of the date first written above when the Escrow Agent shall have received counterparts
of this Amendment duly executed and delivered by the parties hereto (the “Effective Date”).

 

4. Effect of Amendment.
Except as expressly amended by this Amendment, all of the terms and provisions of the Agreement are and shall remain in full force
and effect and are hereby ratified and confirmed by the parties hereto. Without limiting the generality of the forgoing, the amendments
contained herein will not be construed as an amendment to or waiver of any other provision of the Agreement or as a waiver of or
consent to any further or future action on the part of any party hereto that would require the waiver or consent of any other party
hereto. On and after the Effective Date, each reference in the Agreement to “this Agreement”, “the Agreement”,
“hereunder”, “hereof”, “herein” or words of like import will mean and be a reference to the
Agreement as amended by this Amendment.

 

5. Governing Law.
This Amendment is governed by and construed in accordance with, the laws of the state of New York.

 

6. Counterparts.
This Amendment may be executed in several counterparts or by separate instruments and all of such counterparts and instruments
shall constitute one agreement, binding on all of the parties hereto.

 

[Remainder of Page Intentionally Left Blank]

 

    2

     

    

 

IN WITNESS WHEREOF,
the parties hereto have caused this Amendment to be duly executed on the date first above written.

 

	THE ISSUER	 	THE ESCROW AGENT
	WAH FU EDUCATION GROUP LIMITED	 	CONTINENTAL STOCK TRANSFER & TRUST COMPANY
	 	 	 	 	 
	By:	/s/ David Yu	 	By:	/s/ Francis E. Wolf, Jr.
	 	Name:	David Yu	 	 	Name:	Francis E. Wolf, Jr.
	 	Title:	Chairman	 	 	Title:	Vice President
	 	 	 	 	 
	THE UNDERWRITER	 	 	 
	NETWORK 1 FINANCIAL SECURITIES, INC.	 	 	 
	 	 	 	 	 
	By:  	/s/ Damon D. Testaverde	 	 	 
	 	Name:	Damon D. Testaverde	 	 	 
	 	Title:	Managing Director	 	 	 

 

[signature page to Amendment 2 of Escrow
Agreement among Network 1, Continental and Wah Fu]

 

    3Exhibit 10.18

 

Contract No.:

 

Technology Development (Entrustment)
Contract

 

Project Description: Development of CloudBag
Software System V2.0

Entrusting Party (Party A): World Publishing
Shanghai Corporation Limited

Entrusted Party (Party B): Beijing
Huaxia Dadi Distance Education Network Service Co., Ltd.

 

Effective Date: November 24, 2017

Expiry Date: November 24, 2021

 

Printed by the Ministry of Science and
Technology of the People ́s Republic of China

 

     

     

    

 

Instructions

 

I. This Contract is the model text of the
Technical Development (Entrustment) Contract printed by the Ministry of Science and Technology of the People ́s Republic of
China, and the technical contract certification and registration agencies may recommend the parties to a technical contract to
use this Contract mutatis mutandis.

 

II. The contract is applicable to the technology
development contract according to which one Party entrusts the other Party to carry out the research and development of new technology,
product, process or material and its system.

 

III. Several signers for one Party may
be arrayed as joint consigners or joint consignees under the column of “Entrusting Party” or “Entrusted Party”
(in attached sheets) in accordance with their respective functions in the contract.

 

IV. Any matter not covered by the Contract
may be agreed by the Parties concerned in an attached sheet which constitutes an integral part of the Contract.

 

V. Any clause not applicable to the Contract
shall be filled in with “N/A” by the Parties concerned.

 

    2

     

    

 

Technology Development (Entrustment)
Contract

 

Entrusting Party (Party A): World Publishing
Shanghai Corporation Limited

Domicile: 9-10/F, No. 88 Guangzhong Road,
Shanghai

Legal Representative: Lu Qi

Contact: Zhang Yi

 

Contact Information:

Address: 9-10/F, No. 88 Guangzhong Road,
Shanghai

Tel: 021-36357951 Fax: 021- 36357920

E-mail:

Entrusted Party (Party B): Beijing Huaxia
Dadi Distance Education Network Service Co., Ltd.

Domicile: Room 505, 5/F, Tower B, Jingkai
Mansion, No.1, North Disheng Street, Economic and Technological Development Area, Beijing

Legal Representative: Yu Yang

 

Contact Information:

Address: Beijing Huaxia Dadi Distance Education
Network Service Co., Ltd., Room 505, 5/F, Tower B, Jingkai Mansion, No.1, North Disheng Street, Economic and Technological Development
Area, Beijing

Tel: 010-57925018 Fax: 010-57925018

Email:

According to the Contract, Party A will
entrust Party B to perform the research and development of the CloudBag Software System V2.0 and shall pay the R&D funds and
remuneration to Party B, and Party B will accept the said R&D. Party A and Party B have reached the following agreement for
mutual compliance in accordance with the Contract Law of the People's Republic of China through equal consultation and on the basis
of faithfully and fully expressing their respective will.

 

    3

     

    

 

Article 1 The technical objectives in this
Contract shall include:

 

(1) Completing the development of the big
education data LRS management system in the CloudBag;

 

(2) Completing the development of the initializing
tool system in the CloudBag;

 

(3) Optimizing and improving the Teaching
On Command system in the CloudBag vl.O;

 

(4) Completing the development of the homework
system in the CloudBag;

 

(5) Completing the development of the parent
dashboard system in the CloudBag;

 

(6) Completing the development of the academic
performance analysis system in the CloudBag;

 

(7) Completing the development of the student
knowledge map system in the CloudBag;

 

(8) Completing the development of the student
learning situation analysis system in the CloudBag;

 

(9) Completing the development of the learning
warning system in the CloudBag;

 

(10) Completing the development of the
system for comprehensive analysis of class learning situation in the CloudBag;

 

(11) Completing the development of the
primary school version features and interface customization in the CloudBag;

 

(12) Completing the development of the
high school version features and interface customization in the CloudBag;

 

    4

     

    

 

Article 2 The technical contents based
on the technical objectives in Article 1 are set forth below:

 

(1) The big education data LRS management
system in the CloudBag shall have the following functions:

 

a. Define standard data format syntax according
to technical specifications for xAPI learning;

 

b. Establish LRS database (learning record
base) and form semantic tag library of each dimension under learning scenario, including time, space, device and event dimensions.

 

c. Call the xAPI interface and log to the
LRS system when the learners produce learning behavior in the system;

 

d. Establish a panoramic model for learners'
learning and growth through the LRS system.

 

(2) The initializing tool system in the
CloudBag shall have the following functions:

 

a. Provide standard school data initialization
templates;

 

b. Support the batch establishment and
import of school, class, curriculum, teacher and student data;

 

c. Support the selection of resources from
the general base and batch the resources to the school platform;

 

d. Support the batch grant of account role
permissions and realize unified management.

 

(3) The Teaching On Command system in the
CloudBag shall have the following functions:

 

a. Support more than 10 common courseware
resource formats, including the courseware, test paper, test questions and pictures, video, audio, animation, text, e-books and
many other formats;

 

b. Transcode the resources into standard
format in the background after the resources are uploaded by the teacher;

 

c. Support the online preview and playback
of resources in standard format.

 

(4) The homework system in the CloudBag
shall have the following functions:

 

a. Support teachers to publish homework
on the web or mobile terminal;

 

b. Support teachers to release individual
or group homework and set the deadline for completion;

 

c. Support teachers to check homework completion
by students and send back the correction results, answers and analysis to students;

 

d. Support teachers to comment on the whole
class or a particular student;

 

e. Support students to complete their homework
on mobile terminal;

 

f. Support students to view the correction
results, answers and analysis sent by the teacher.

 

(5) The parent dashboard system in the
CloudBag shall have the following functions:

 

a. Support the opening of parent account
bound with student account;

 

b. Support parents to check their children's
learning status, including class performance, homework completion, test results, etc.;

 

c. Support parents to receive and view
the announcements and notices sent by teachers in class

 

d. Support parents to chat with teachers
online.

 

    5

     

    

 

(6) The academic performance analysis system
in the CloudBag shall have the following functions:

 

a. Support teachers to import student scores
in the form of template sheets or other forms, and to save and inquire the grades of classes and subjects;

 

b. Support to import the data of entrance
examination for secondary school or college data of region, school and grade for comparative analysis;

 

c. Support the basic analysis of performance
indicators, including the total scores, ranking, average scores, standard scores, excellence rate, pass rate, standard difference
and other standard analysis;

 

d. Support the analysis of student knowledge
capability and cognitive process capability based on the project response theory and education goal classification theory;

 

e. Automatically generate test analysis
report, subject diagnosis and evaluation report and the individual diagnosis report of the student.

 

(7) The student knowledge map system in
the CloudBag shall have the following functions:

 

a. Create a personal knowledge map for
each student based on the learning statistics in the LRS system;

 

b. Support students to understand personal
knowledge by viewing the “traffic light” status in the knowledge map

 

c. Support the system to automatically
push learning materials and test questions according to the weak points of different student knowledge;

 

d. Support teachers to view the knowledge
map of all students in the class, and customize personalized learning materials and test questions for students in the map nodes.

 

(8) The student learning situation analysis
system in the CloudBag shall have the following functions:

 

a. Provide the analysis support of "teaching
based on learning" for teachers in the nodes of lesson preparation;

 

b. Support to push teaching resources matching
the chapter knowledge points for teachers on business nodes;

 

c. Support to analyze the students' independent
learning on the nodes, based on data such as the length of courseware viewing and interaction frequency;

 

d. Support to recommend questions with
the highest error rates on the nodes, based on the correct rate of student homework and exams;

 

e. Support the semantic analysis based
on the discussions in the student question answering area on the nodes and support to extract hot discussion keywords;

 

f. Support to understand student interests
in learning on the nodes, based on the student viewing and downloading and the resources ranking.

 

(9) The learning warning system in the
CloudBag shall have the following functions:

 

a. Support to give learning warning from
the dimension of student learning and mastering of knowledge;

 

b. Support to give learning warning from
the dimension of student effort level;

 

c. Support to give learning warning from
the dimension of student learning path;

 

d. Support to give learning warning from
the dimension of student activity level;

 

e. Support to give learning warning from
the dimension of student class performance.

 

    6

     

    

 

(10) The system for comprehensive analysis
of class learning situation in the CloudBag shall have the following functions:

 

a. Support the classroom performance analysis
and support to record the process data of each lesson and analyze the class teaching process, teaching activities and classroom
performance;

 

b. Support the homework analysis and the
statistics and analysis of the overall class homework completion and homework quality;

 

c. Support the analysis of examination
situation and the statistics and analysis of overall class examination results, the accuracy of the examination results, as well
as the overall examination results of students;

 

d. Support the platform usage analysis
and the statistics and analysis of students' online time, activity and learning habits, etc.

 

e. Support the overall analysis of the
class and the individual analysis of students and support the comparison of the learning situation of students with that of the
class.

 

(11) The customization of primary school
version interface in the CloudBag shall comply with the following principles:

 

a. Customize the primary school version
interface based on the psychological and cognitive characteristics of users aged 7-12 years;

 

b. Achieve interface design imaging and
symbolic visualization by using graphic elements with simple, intuitive and representational features;

 

c. Stimulate the enthusiasm and participation
of users in learning by virtue of scenarized and interesting interface design;

 

d. Focus on feedback of interactive design
and give appropriate voice prompt and use encouraging language;

 

e. Simplify the page hierarchy and achieve
simple and natural page switching with consistent style.

 

(12) The customization of high school version
interface in the CloudBag shall comply with the following principles:

 

a. Customize high school version interface
based on the psychological and cognitive characteristics of users aged 16-18;

 

b. Satisfy the principle of simplicity,
achieve concise and reasonable navigation, concise and clear content and agile and smooth operation, and give helps and feedback;

 

c. Meet the consistency principle and achieve
reasonable layout, prominent focus, harmonious color use and unified style.

 

3. Technical methods and routes: the server
uses the Java EE technology system, while the client is based on the B/S mode and Android system development.

 

Article 3 Party B shall submit the R&D
plan to Party A within 10 working days upon the validation of the Contract. The R&D plan shall include the following major
contents:

 

1. Specification of the products required;

 

2. Project team members and division of
work;

 

3. Arrangement of regular meeting and minutes
of meeting;

 

4. Project schedule.

 

Article 4 Party B shall complete the research
and development work according to the following schedule:

 

1. Complete the technical contents specified
by Items (1), (2), (3) and (4) of Paragraph 2 in Article 2 before January 15, 2018;

 

2. Complete the technical contents specified
by Items (5), (6), (7) and (8) of Paragraph 2 in Article 2 before February 25, 2018;

 

3. Complete the technical contents specified
by Items (9), (10), (11) and (12) of Paragraph 2 in Article 2 before March 25, 2018;

 

4. Complete the system performance test
and problem modification before April 1, 2018;

 

5. Complete the delivery of products before
April 10, 2018.

 

    7

     

    

 

Article 5 The technical data to be provided
by Party A for Party B and the cooperation matters are set forth as follows:

 

1. List of technical materials: Description
of the Project Requirements.

 

2. Time and mode of provision: within 10
working days after the Contract is signed.

 

3. Other cooperation matters: N/A.

 

After the performance of this Contract,
the materials above shall be returned to Party A for sealing up.

 

Article 6 Party A shall pay the research
and development funds and remuneration in the following ways:

 

1. The total amount of the research and
development funds and remuneration shall be CNY FIVE MILLION FIVE HUNDRED AND THIRTY NINE THOUSAND (in figures, CNY 5,539,000.00).

 

2. The research and development funds shall
be paid by Party A to Party B in three installments in the ways and time specified as follows:

 

(1) Within thirty working days after the
Contract is signed, Party A shall pay Party B the project funds of CNY FIVE HUNDRED AND THIRTY NINE THOUSAND (in figures, CNY 539,000.00);

 

(2) After the Contract is signed and within
five working days after Party B has delivered the technical contents specified in Items (1)-(6) of Paragraph 2 of Article 2 and
submitted the same to Party A according to the specification mentioned in Article 1, Party A shall pay Party B the project funds
of CNY TWO MILLION and FIVE HUNDRED THOUSAND (in figures, CNY 2,500,000.00);

 

(3) After the Contract is signed and within
five working days after Party B has delivered the technical contents specified in Items (7)-(12) of Paragraph 2 of Article 2 and
submitted the same to Party A according to the specification mentioned in Article 1, Party A shall pay to Party B the project funds
of CNY TWO MILLION and FIVE HUNDRED THOUSAND (in figures, CNY 2,500,000.00);

  

    8

     

    

 

3. Name and account number of Party B’s
bank of deposit are as follows:

 

Account Name: Beijing Huaxia Dadi Distance
Education Network Service Co., Ltd.

 

Bank of Deposit: Industrial and Commercial
Bank of China, Beijing Economic and Technological Development Area North Hongda Road Sub-branch

 

Account No.: 0200059019200028622

 

Article 7 The funds for research and development
under the Contract shall be used by Party B as development fees. Party A shall have the right to examine Party B's research and
development work and the use of research and development funds through written letters or by e-mail, but shall not impede the normal
work of Party B.

 

Article 8 Any changes to the Contract must
be agreed by both Parties and determined in written form. However, in case of one of the following circumstances, one Party may
request the other Party to change its rights and obligations hereunder, and the other Party shall reply within 7 working days;
if it fails to do so, it shall be deemed to be agreed:

 

1. N/A;

 

2. 2.

 

Article 9 Without the consent of Party
A, Party B shall not assign any part or all of the research and development work hereunder to any third party. However, Party B
may assign any part or all of the research and development work hereunder to any third party without the consent of Party A.

 

1. N/A;

 

2. 2.

 

The specific research and development work
that may be assigned by Party B includes: N/A.

 

Article 10 During the performance of the
Contract, if any Party or both Party incurred any loss due to the partial or entire failure of the research and development work
caused by the insurmountable technical difficulties under existing technical level and conditions, the parties shall bear the risk
of loss as agreed as follows: Party B shall return the corresponding development fees it has received.

 

The Parties acknowledge that the technical
risks of the project hereunder are identified in writing by the Parties through consultation. The basic contents of the technical
risk identification shall include the existence, scope, extent and degree of loss of the technical risk. The basic conditions for
identifying technical risks include:

 

1. There exist certain difficulties in
the project under the existing technical conditions;

 

2. Party B has no subjective fault and
the failure of research and development is identified as reasonable.

 

    9

     

    

 

If any Party discovers that there exists
any technical risk that may cause the partial or entire failure of the research and development, it shall notify the other Party
within 7 working days and take appropriate measures to reduce the losses. If the losses are enlarged due to its failure to notify
the other Party or to take appropriate measures, it shall be liable for the enlarged losses.

 

Article 11 If, during the performance of
the Contract, the technology under development has been disclosed by other persons (including the disclosure of the technology
in the form of patent), one Party shall, within 7 working days, notify the other Party to terminate the Contract. If any Party
fails to notify the other Party and thus causes losses to the other Party, the other Party shall have the right to claim compensation.

 

Article 12 The Parties acknowledge that
they shall fulfill the following confidentiality obligations:

 

Party A:

 

1. Confidential contents (including technology
and business information): The technical materials and secrets obtained from Party B in the process of cooperation, as well as
other information disclosure of which may damage Party B's interests.

 

2. The scope of secret-related personnel:
Party A's project team members participating in this project and other personnel aware of the content and progress of the technical
development project hereunder due to their duty behavior.

 

3. Confidentiality period: Five years after
the Contract is signed.

 

4. Liability for disclosure of confidential
information: Party A shall compensate for Party B's economic losses caused by Party A's disclosure of the said confidential information,
including the direct and consequential losses and attorney’s fees.

 

Party B:

 

1. Confidential contents (including
technology and business information): The technical materials and technical secrets obtained from Party A in the process of cooperation,
as well as other information disclosure of which may damage Party A's interests.

 

2. The scope of secrete-related personnel:
Party B's project team members participating in this project and other personnel aware of the content and progress of the technical
development project hereunder due to their duty behavior.

 

3. Confidentiality period: Five years after
the Contract is signed.

 

4. Liability for disclosure of confidential
information: Party B shall compensate for Party A's economic losses caused by Party B's disclosure of the said confidential information,
including the direct and consequential losses and attorney’s fees.

 

Article 13 Party B shall deliver the research
and development achievements to Party A in the following manner:

 

1. Delivery method and quantity of the
research and development achievements: Deliver the source code and source code description of the CloudBag and the instructions
for the use of the software in the form of CD.

 

2. Time and place for the delivery of the
research and development achievements: The research and development achievements shall be delivered at the time stipulated in Article
3 at World Publishing Shanghai Corporation Limited.

 

Article 14 The Parties agree that the acceptance
of Party B's research and development achievements shall follow the following standards and methods: The acceptance of the achievements
shall be carried out according to the provisions of Article 1 and Article 2. Such achievements shall be approved by Party A and
realize the purpose of this Contract and the technical objectives set forth in Article 1 hereof.

 

    10

     

    

 

Article 15 Party B shall ensure that the
research and development achievements delivered by it to Party A shall not infringe upon the legitimate rights and interests of
any third party. If any third Party claims that the technologies used by Party A infringe its patents, Party B shall bear all the
liabilities therefrom. If Party A suffers losses for this reason, Party B shall compensate Party A in full amount, including but
not limited to direct and consequential losses and the attorney’s fees incurred.

 

Article 16 The Parties agree that the ownership
of research and development achievements and relevant intellectual properties during performance of the Contract shall be treated
through the 2 method:

 

(Party A/B/both Parties) has/have the right
to apply for patents.

 

The methods for use of the obtained patents
and the allocation of the relevant interests are as follows:

 

2. They shall be treated as technical secrets.
The rights ownership relating to the use and transfer and the interests therefrom shall be treated as follows:

 

The right to use technical secrets: owned
by Party A.

 

The right to transfer technical secrets:
owned by Party A.

 

The distribution of relevant interests:
owned by Party A.

 

The Parties have reached the following
agreement on the ownership of intellectual property rights relating to the Contract:

 

All intellectual property rights arising
from this Contract shall be owned by Party A and Party A shall have the right to possess, use, profit from and dispose of such
intellectual property rights in accordance with laws and regulations.

 

Article 17 Party B shall not transfer arbitrarily
the research and development achievements to any third party before or after delivering the same to Party A.

 

Article 18 Party B's research and development
personnel participating in the project hereunder shall have the rights to have their names to be included in the relevant technical
achievement documents and to acquire relevant honor certificates and awards.

 

Article 19 The equipment, apparatuses,
materials and other properties purchased by Party B using the research and development funds for the research and development work
shall be owned by Party B (Party A, Party B, Both Parties).

 

Article 20 The Parties agree that Party
B shall, after delivering the research and development achievements to Party A, provide Party A's designated personnel with technical
guidance and training, or provide technical services relating to the use of the research and development achievements at the request
of Party A.

 

1. Contents of the technical services and
guidance: Party B shall provide Party A with free technical support with no increment for the software products during 12 months
after the acceptance of the project by Party A.

 

2. Time and mode: remote service by telephone
or field service.

 

3. Charges and mode of payment: N/A.

 

    11

     

    

 

Article 21 The Parties agree that any Party
which violates the Contract and thus causes the stagnation, delay or failure of the research and development shall bear the liability
for breach of contract according to the following provisions:

 

1. Party A shall pay liquidated damages
at 5‰ of the agreed amount of payment if it violates the provisions of Article 6.

 

2. Party B shall pay liquidated damages
at 5‰ of the agreed amount of payment if it violates the provisions of Article 4.

 

3. Any party's breach of other provisions
hereof shall constitute breach of contract and such breaching party shall pay liquidated damages to the non-breaching party, at
25% of the Contract Price; the liquidated damages cannot substitute the losses caused, therefore, in addition to the liquidated
damages, the breaching party shall also compensate the other party for the losses caused by its breach of contract, including any
direct and consequential losses and attorney’s fees.

 

Article 22 The Parties agree that Party
A has the right to make further improvement with the research and development achievements provided by Party B in accordance with
the Contract. The new technical achievements with characteristics of substantive or creative technological progress arising therefrom
and the ownership thereof shall be owned by Party A (Party A, Party B, Both Parties). The distribution of relevant interests: N/A.

 

Party B has the right to make further improvement
with the research and development achievements after it has completed the research and development work in accordance with the
Contract. The new technical achievements with characteristics of substantive or creative technological progress arising therefrom
shall be owned by Party B (Party A, Party B, Both Parties). The distribution of relevant interests:

 

N/A.

 

Article 23 The Parties agree that, within
the term of the Contract, Party A shall designate Xiong Jia as the contact of Party A, and Party B shall designate Wang Wen as
the contact of Party B. The contact persons shall be responsible for:

 

1. Organizing and convening project seminar
with the participation of both Parties;

 

2. Defining the requirements and specifications
of the project together;

 

3. Confirming the timely payment and allocation
of project funds; and

 

4. Carrying out the acceptance of the project
achievements.

 

If one Party changes its contact person,
it shall notify in writing the other Party in timely manner, and, if it fails to do so and thus impact the performance of the Contract
or cause any loss, it shall bear the corresponding responsibilities.

 

Article 24 The Parties agree that either
Party may notify the other to terminate the Contract if any of the following conditions occurs, which may make the Contract unnecessary
or unable to be fulfilled:

 

1. Occurrence of any force majeure or technical
risks;

 

2. N/A.

 

Article 25 Any dispute arising from the
performance of the Contract shall be settled through consultation and mediation. If it cannot be settled through consultation or
mediation, then it shall be handled through the 2 method:

 

1. Submit the dispute to Shanghai Arbitration
Commission for arbitration;

 

2. File a lawsuit with the people's court
at the place where the technical achievements are delivered according to law.

 

Article 26 The Contract shall be made in
quadruplicate of the same legal effect.

 

Article 27 The Contract shall come into
force after being signed and sealed by both Parties.

Intentionally left blank below.

 

    12

     

    

 

Signature Page:

Party A: World Publishing Shanghai Corporation
Limited (company seal)

Legal representative/entrusted agent:

 

MMDDYY

 

 

Party B: Beijing Huaxia Dadi Distance Education
Network Service Co., Ltd. (Company Seal)

Legal representative/entrusted agent:

MMDDYY

 

    13

     

    

 

Stick stamp tax receipt here:

 

(Filled in by technology contract registration
authority below)

Contract registration number:

 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 

 

1. Applicant:

2. Registration material: (1)

3. Contract type:

4. Contract trading amount:

5. Technology trading amount:

 

	 	Technology contract registration authority (seal)
	 	Processed by:
	 	MMDDYY

 

    14

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00291-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00291-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00291-of-00352.parquet"}]]