Document:

Exhibit
10.2

 

Second
Amended and Restated Exclusive Call Option Agreement

 

This
Seconnd Amended and Restated Exclusive Call Option Agreement (this “Agreement”) is entered into in Shenzhen,
the People’s Republic of China (the “PRC”) on September 4, 2019 by and among the following Parties:

 

1.
Shareholder A: Minfei Bao

Identification
Card No.: 510402197304140958

 

2.
Shareholder B: Min He

Identification
Card No.: 330724198604175410

 

(Shareholder
A and Shareholder B are hereinafter referred to individually as a “Company Shareholder” and collectively as the “Company
Shareholders.”)

 

3.
Shenzhen UTime Technology Consulting Co., Ltd. (the “WFOE”) 

Registered
address:

 

4.
United Time Technology Company Limited (the “Company”)

Registered
address:

 

(In
this Agreement, the above parties are hereinafter referred to individually as a “Party” and collectively as
the “Parties.”)

 

Whereas:

 

	(1)	The
Company Shareholders are the registered shareholders of the Company, legally holding all the equity interest in the Company. Appendix
1 sets forth the capital contribution amount made by each of the Company Shareholders and the shareholding percentage of each
as reflected in the registered capital of the Company as of the date of this Agreement.

 

	(2)	To
the extent not in violation of PRC Law, the Company Shareholders intend to transfer all of their respective equity interest in
the Company to the WFOE and/or any other entity or individual so designated by the WFOE, and the WFOE intends to accept such transfer.

 

	(3)	To
the extent not in violation of PRC Law, the Company intends to transfer its assets to the WFOE and/or any other entity or individual
so designated by the WFOE, and the WFOE intends to accept such transfer.

 

	(4)	For
purposes of the foregoing equity interest and asset transfer, the Company Shareholders and the Company agree to grant to the WFOE
the exclusive and irrevocable Equity Transfer Option (as defined below) and Asset Purchase Option (as defined below). Pursuant
to such Equity Transfer Option and Asset Purchase Option, at the WFOE’s sole request, the Company Shareholders or the Company
shall, to the extent permitted by the PRC Law, transfer the Shareholder Equity (as defined below) or the Company Assets (as defined
below) to the WFOE and/or any other entity or individual so designated by the WFOE pursuant to the provisions of this Agreement.

 

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	(5)	The
Company agrees that the Company Shareholders grant the Equity Transfer Option to the WFOE pursuant to the provisions of this Agreement.

 

	(6)	The
Company Shareholders agree that the Company grants the Asset Purchase Option to the WFOE pursuant to the provisions of this Agreement.

 

NOW,
THEREFORE, the Parties, after amicable consultations, hereby agree as follows:

 

Article 1
Definitions

 

	1.1	As
used in this Agreement, the following terms shall be interpreted to have the following meanings, unless otherwise interpreted
pursuant to the context:

 

“Asset
Purchase Option” shall mean the required option to purchase any Company Assets as granted to the WFOE by the Company
pursuant to the terms and conditions of this Agreement.

 

“Business
Permits” shall mean any approvals, permits, filings, or registrations which the Company is required to obtain in order
to legally and validly operate all of its businesses, including without limitation, its business license and such other relevant
permits and licenses as may be required by the then-effective PRC Law.

 

“Company
Assets” shall mean all the tangible and intangible assets which the Company owns or has the right to dispose of during
the term of this Agreement, including without limitation, any immoveable and moveable assets, intellectual property rights such
as trademarks, copyrights, patents, know-how, domain names and software use rights, and any investment interests.

 

“Company
Registered Capital” shall mean the registered capital of the Company as of the signing date of this Agreement,
which shall include any expanded registered capital as a result of any capital increase in any form during the term of this Agreement.

 

“Equity
Transfer Option” shall mean the option to purchase all of the Shareholder Equity held by each of the Company Shareholders
as granted to the WFOE by the Company Shareholders pursuant to the terms and conditions of this Agreement.

 

“Exercise
of Option” shall mean the exercise of the Equity Transfer Option or the Asset Purchase Option by the WFOE.

 

“Material
Asset” shall mean any asset which has a book value of RMB100,000 or more or has a material effect on the business
operations of any Party.

 

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“Material
Agreement” shall mean, in respect to the Company, any agreement to which the Company is a party and which has a
material effect on the business or assets of the Company, including without limitation, the Exclusive Technical Consultation and
Service Agreement entered into by the Company and the WFOE on March 19, 2019 and other important agreements regarding the business
of the Company; in respect of a Subsidiary, any agreement to which such Subsidiary is a party and which has a material effect
on the business or assets of such Subsidiary.

 

“PRC”
shall mean the People’s Republic of China, which, for purposes of this Agreement only, excludes the Hong Kong Special Administrative
Region, the Macao Special Administrative Region and Taiwan.

 

“PRC
Law” shall mean the then-effective laws, administrative regulations, administrative rules, local regulations, judicial
interpretations and other binding regulatory documents of the PRC.

 

”Shareholder
Equity” shall mean, in respect of each of the Company Shareholders, all the equity interest held by him or her
in the Company Registered Capital, respectively, in respect of all the Company Shareholders, the equity interest covering 100%
of the Company Registered Capital.

 

“Transferred
Assets” shall mean the Company Assets which the WFOE has the right to require the Company to transfer to it or
its designated entity or individual in accordance with Article 3 hereof when the WFOE exercises its Asset Purchase Option,
the quantity of which may be all or part of the Company Assets and the details of which shall be determined by the WFOE at its
sole discretion in accordance with the then-effective PRC Law and based on its commercial consideration.

 

“Transferred
Equity” shall mean the equity interest in the Company which the WFOE has the right to request either of the Company
Shareholders to transfer to it or its designated entity or individual in accordance with Article 3 hereof when the WFOE exercises
its Equity Transfer Option, the quantity of which may be all or part of the Shareholder Equity and the specific amount of which
shall be determined by the WFOE at its sole discretion in accordance with the then-effective PRC Law and based on its commercial
consideration.

 

“Transfer
Price” shall mean all the consideration that the WFOE or its designated entity or individual is required to pay
to the Company Shareholders or the Company in order to obtain the Transferred Equity or the Transferred Assets upon each Exercise
of Option as provided herein.

 

	1.2	The
references to any PRC Law herein shall be deemed to:

 

		(1)	simultaneously
include any and all references to the amendments, changes, supplements and restatements of such PRC Law, irrespective of whether
they take effect before or after the execution of this Agreement; and

 

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		(2)	simultaneously
include the references to other decisions, notices and regulations enacted in accordance therewith or effective as a result thereof.

 

	1.3	Except
as otherwise stated in the context herein, all references to an article, clause, item or paragraph shall refer to the corresponding
part of this Agreement.

 

Article 2
Grant of Equity Transfer Option and Asset Purchase Option

 

	2.1	The
Company Shareholders hereby severally and jointly agree to grant the WFOE an irrevocable, unconditional and exclusive Equity Transfer
Option. Pursuant to such Equity Transfer Option, the WFOE is entitled, to the extent permitted under PRC Law, to request the Company
Shareholders transfer the Shareholder Equity to the WFOE, or the WFOE’s designated entity or individual, according to the
terms and conditions hereunder. The WFOE also agrees to accept such Equity Transfer Option.

 

	2.2	The
Company hereby agrees that the Company Shareholders grant such Equity Transfer Option to the WFOE according to Article 2.1
above and other provisions of this Agreement.

 

	2.3	The
Company hereby agrees to grant the WFOE an irrevocable, unconditional and exclusive Asset Purchase Option. Pursuant to such Asset
Purchase Option, the WFOE is entitled, to the extent permitted under PRC Law, to request the Company to transfer all or part of
the Company Assets to the WFOE, or the WFOE’s designated entity or individual, according to the terms and conditions hereunder.
The WFOE also agrees to accept such Asset Purchase Option.

 

	2.4	The
Company Shareholders hereby severally and jointly agree that the Company grants such Asset Purchase Option to the WFOE according
to Article 2.3 above and other provisions of this Agreement.

 

Article 3
Method of Exercise of Option

 

	3.1.	Subject
to the terms and conditions of this Agreement, the WFOE shall have the absolute sole discretion to determine the specific time,
method and times of its Exercise of Option to the extent permitted under PRC Law.

 

	3.2.	Subject
to the terms and conditions of this Agreement and to the extent not in violation of the then-effective PRC Law, the WFOE shall
have the right, at any time, to request to acquire the Transferred Equity from the Company Shareholders by itself or through any
other entity or individual so designated by the WFOE.

 

	3.3.	Subject
                                         to the terms and conditions of this Agreement and to the extent not in violation of the
                                         then-effective PRC Law, the WFOE shall have the right, at any time, to request to acquire
                                         the Transferred Assets from the Company by itself or through any other entity or individual
                                         so designated by the WFOE.

 

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	3.4.	With
regard to the Equity Transfer Option, at each Exercise of Option, the WFOE shall have the right to arbitrarily determine the amount
of the Transferred Equity to be transferred by the Company Shareholders to the WFOE and/or any other entity or individual designated
by it. The Company Shareholders shall respectively transfer the Transferred Equity to the WFOE and/or any other entity or individual
designated by it in the amount requested by the WFOE. The WFOE and/or any other entity or individual designated by it shall pay
the Transfer Price with respect to the Transferred Equity acquired at each Exercise of Option to the Company Shareholders transferring
such Transferred Equity.

 

	3.5.	With
regard to the Asset Purchase Option, at each Exercise of Option, the WFOE shall have the right to determine the specific Company
Assets to be transferred by the Company to the WFOE and/or any other entity or individual designated by it. The Company shall
transfer the Transferred Assets to the WFOE and/or any other entity or individual designated by it in accordance with the WFOE’s
requirement. The WFOE and/or any other entity or individual designated by it shall pay the Transfer Price to the Company with
respect to the Transferred Assets acquired at each Exercise of Option.

 

	3.6.	At
each Exercise of Option, the WFOE may acquire the Transferred Equity or Transferred Assets by itself or designate any third party
to acquire all or part of the Transferred Equity or Transferred Assets.

 

	3.7.	Having
decided each Exercise of Option, the WFOE shall issue to the Company Shareholders or the Company a notice for exercising the Equity
Transfer Option or a notice for exercising the Asset Purchase Option (the “Exercise Notice”, the form of which
is set out in Appendix 2 and Appendix 3 hereto). The Company Shareholders or the Company shall, upon receipt of the Exercise Notice,
forthwith transfer all the Transferred Equity or Transferred Assets in accordance with the Exercise Notice to the WFOE and/or
any other entity or individual designated by the WFOE in such method as described in Article 3.4 or Article 3.5 hereof.

 

Article 4
Transfer Price

 

	4.1.	With
regard to the Equity Transfer Option, the total Transfer Price to be paid by the WFOE or any other entity or individual designated
by the WFOE to the Company Shareholders at Exercise of Option by the WFOE shall be the capital contribution mirrored by the corresponding
Transferred Equity in the Company Registered Capital. But if the lowest price permitted by the then-effective PRC Law is lower
than the above capital contribution, the Transfer Price shall be the lowest price permitted by the PRC Law.

 

	4.2.	With
regard to the Asset Purchase Option, the Transfer Price to be paid by the WFOE or any other entity or individual designated by
the WFOE to the Company at each Exercise of Option by the WFOE shall be the lowest price permitted by the then-effective PRC Law.

 

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Article 5
Representations and Warranties

 

	5.1	The
Company Shareholders hereby severally and jointly represent and warrant that:

 

		5.1.1.	Each
of the Company Shareholders is a Chinese citizen. Each of them has the full and independent legal status and legal capacity to
execute, deliver and perform this Agreement and may act independently as a party to a lawsuit.

 

		5.1.2	The
Company is a limited liability company duly registered and legitimately existing under the PRC Law with an independent legal personality.
It has the complete and independent legal status and legal capacity to execute, deliver and perform this Agreement and may act
as the subject of litigation independently. The Company has the full power and authority to consummate the transaction contemplated
hereby.

 

		5.1.3	The
Company Shareholders have the full power and authority to execute, deliver and perform this Agreement and all other documents
relating to the transaction contemplated hereby and to be executed by them. The Company Shareholders have the full power and authority
to consummate the transaction contemplated hereby.

 

		5.1.4	This
Agreement is legally and duly executed and delivered by the Company Shareholders. This Agreement shall constitute their legal
and binding obligations and shall be enforceable against them in accordance with the terms of this Agreement.

 

		5.1.5	The
Company Shareholders are the legitimate owner of the Shareholder Equity as of the effective date of this Agreement, and except
for the rights created under the Second Amended and Restated Equity Pledge Agreement executed by the Company, the WFOE and the
Company Shareholders on the date hereof, the Shareholder Equity is free from and clear of any lien, pledge, mortgage and other
encumbrances and third party rights. Pursuant to this Agreement, the WFOE and/or any other entity or individual designated by
it may, after the Exercise of Option, acquire good and legal title to the Transferred Equity, free from and clear of any lien,
pledge, mortgage and other encumbrances or third party rights.

 

		5.1.6	To
the knowledge of the Company Shareholders, the Company Assets are free from and clear of any lien, pledge, mortgage other encumbrances
and third party rights. Pursuant to this Agreement, the WFOE and/or any other entity or individual designated by it may, after
the Exercise of Option, acquire good title to the Company Assets, free and clear of any lien, pledge, mortgage and other encumbrances
or third party rights.

 

		5.1.7	Unless
as mandatorily required by the PRC Law, the Company Shareholders shall not request the Company to declare the distribution of
or in practice release any distributable profit, bonus or dividend; the Company Shareholders shall, in compliance with the PRC
Law, promptly gift any profit, bonus or dividend obtained by them from the Company to the WFOE and/or any qualified entity or
individual designated by the WFOE.

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		5.1.8	The
execution, delivery and performance by the Company Shareholders of this Agreement and the consummation by the Company Shareholders
of the transaction contemplated hereby does not violate any PRC Law or any agreement, contract or other arrangement with any third
party by which the Company Shareholders are bound.

 

	5.2	The
Company hereby represents and warrants that:

 

		5.2.1	The
Company is a limited liability company duly registered and legitimately existing under PRC Law with an independent legal personality.
It has the full and independent legal status and may act independently as a party to a lawsuit.

 

		5.2.2	The
Company has the full internal corporate power and authority to execute, deliver and perform this Agreement and all other documents
relating to the transaction contemplated hereby and to be executed by it. It has the full power and authority to consummate the
transaction contemplated hereby.

 

		5.2.3	This
Agreement is legally and duly executed and delivered by the Company and constitutes a legal and binding obligation against it.

 

		5.2.4	The
Company Assets are free from and clear of any lien, mortgage, claim or other encumbrances or third party rights. Pursuant to this
Agreement, the WFOE and/or any other entity or individual designated by it will, after the Exercise of Option, acquire good title
to the Company Assets, free from and clear of any lien, mortgage, claim or other encumbrances or third party rights.

 

		5.2.5	The
execution, delivery and performance by the Company of this Agreement and the consummation by the Company of the transaction contemplated
hereby does not violate any PRC Law or any agreement, contract or other arrangements with any third party by which it is bound.

 

		5.2.6	Unless
as mandatorily required by the PRC Law, the Company shall not declare the distribution of or in practice release any distributable
profit, bonus or dividend.

 

	5.3	The
WFOE hereby represents and warrants that:

 

		5.3.1.	The
WFOE is a wholly foreign-owned enterprise duly registered and legally existing under PRC Law. The WFOE has the full and independent
legal status and may act independently as a party to lawsuit.

 

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		5.3.2.	The
WFOE has the full internal corporate power and authority to execute, deliver and perform this Agreement and all other documents
relating to the transaction contemplated hereby and to be executed by it. It has the full power and authority to consummate the
transaction contemplated hereby.

 

		5.3.3.	This
Agreement is legally and duly executed and delivered by the WFOE. This Agreement shall constitute a legal and binding obligation
against it.

 

Article 6
Undertakings by the Company Shareholders

 

The
Company Shareholders hereby severally undertakes that:

 

	6.1	Within
the valid term of this Agreement, without the WFOE’s prior written consent, any Company Shareholder:

 

		6.1.1.	shall
not transfer or otherwise dispose of any Shareholder Equity or create any encumbrance or other third party rights on any Shareholder
Equity;

 

		6.1.2.	shall
not increase or decrease the Company Registered Capital or cause or permit the Company to be divided or merged with any other
entity;

 

		6.1.3.	shall
not dispose of or cause the management of the Company to dispose of any Material Asset (other than in the ordinary course of business),
or create any encumbrance or other third party rights on any Material Asset;

 

		6.1.4.	shall
not terminate or cause the management of the Company to terminate any Material Agreement entered into by the Company, or enter
into any other agreement in conflict with the existing Material Agreements;

 

		6.1.5.	shall
not appoint or dismiss and replace any director or supervisor of the Company or any other management personnel of the Company
who shall be appointed or dismissed by the Company Shareholders;

 

		6.1.6.	shall
not cause the Company to declare the distribution of or in practice release any distributable profit, dividend, share profit or
share interest;

 

		6.1.7.	shall
ensure that the Company maintains its valid legal existence and that such status is not terminated, liquidated or dissolved;

 

		6.1.8.	shall
not amend the articles of association of the Company;

 

		6.1.9.	shall
ensure that the Company will not lend or borrow any money, or provide any guarantee or engage in security activities in any other
form, or bear any substantial obligations other than in the ordinary course of business; and

 

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		6.1.10.	shall
not cause the Company or the management of the Company to approve any of the following acts of any of the Company’s subsidiaries
or affiliates (individually as a “Subsidiary” and collectively as the “Subsidiaries”), including:

 

		(a)	increase
or decrease any Subsidiary’s registered capital or cause or permit any Subsidiary to be divided or merged with any other
entity;

 

		(b)	dispose
of or cause the management of the Subsidiaries to dispose of any Material Asset of any Subsidiary (other than in the ordinary
course of business), or create any encumbrance or other third party rights on such assets;

 

		(c)	terminate
or cause the management of the Subsidiaries to terminate any Material Agreement entered into by any Subsidiary, or enter into
any other agreement in conflict with the existing Material Agreements;

 

		(d)	appoint
or dismiss and replace any director or supervisor of any Subsidiary or any other management personnel of such Subsidiary who shall
be appointed or dismissed by the Company;

 

		(e)	terminate,
liquidate or dissolve any Subsidiary or act in any way that damages or is likely to damage the valid existence of any Subsidiary;

 

		(f)	amend
the articles of association of any Subsidiary; or

 

		(g)	lend
or borrow any money, provide any guarantee, engage in security activities in any other form, or bear any substantial obligations
other than in the ordinary course of business.

 

	6.2	During
the term of this Agreement, the Company Shareholders shall endeavor to the best of their ability to develop the business of the
Company and ensure that the Company’s operations are legal and in compliance with the regulations, and they will not engage
in any act or omission which may damage the Company’s (or its Subsidiaries’) assets and/or goodwill or affect the
validity of the Business Permits of the Company.

 

	6.3	During
the term of this Agreement, the Company Shareholders shall notify the WFOE of any circumstances that may have a material adverse
effect on the existence, business operations, financial conditions, assets or goodwill of the Company (including the Subsidiaries’)
and take all the measures approved by the WFOE to remove such adverse circumstances or take effective remedial measures with respect
thereto in a timely manner.

 

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	6.4	Once
the WFOE gives the Exercise Notice:

 

		6.4.1.	the
Company Shareholders shall promptly convene a meeting of the shareholders, pass shareholder’s resolutions and take all other
necessary actions to approve any Company Shareholder and the Company to transfer all the Transferred Equity or the Transferred
Assets at the Transfer Price to the WFOE, and/or any other entity or individual designated by the WFOE, and waive any preemptive
right to purchase such interests enjoyed by the Company Shareholders (if any);

 

		6.4.2.	the
Company Shareholders shall promptly enter into an equity transfer agreement with the WFOE and/or any other entity or individual
designated by the WFOE to transfer all the Transferred Equity at the Transfer Price to the WFOE and/or any other entity or individual
designated by the WFOE and provide necessary support to the WFOE (including the provision and execution of all relevant legal
documents, performance of all government approval and registration procedures and assumption of all relevant obligations) in accordance
with the WFOE’s requirements and the PRC Law so that the WFOE and/or any other entity or individual designated by the WFOE
may acquire all the Transferred Equity, free from and clear of any legal defect or any encumbrance, third party restriction or
any other restrictions on the Transferred Equity.

 

	6.5	If
the total Transfer Price obtained by any Company Shareholder with respect to the Transferred Equity held by the shareholder is
higher than the capital contribution corresponding with such Transferred Equity in the Company Registered Capital, or any Company
Shareholder receives any form of profit distribution, share profit, share interest or dividend from the Company, then each of
the Company Shareholders agrees, so long as it does not violate any PRC Laws, to waive the premium earnings and any profit distribution,
share profit, share interest or dividend (after the deduction of relevant taxes) and the WFOE shall be entitled to such profit
distribution, share profit, interest or dividend. Otherwise, the Company Shareholders shall compensate the WFOE and/or any other
entity or individual designated by the WFOE for any loss incurred as a result thereof.

 

Article 7
Undertakings by the Company

 

	7.1	The
Company hereby undertakes that:

 

		7.1.1.	If
any consent, permit, waiver or authorization by any third party, or any approval, permit or exemption by any government authority,
or any registration or filing formalities (if required by law) with any government authority needs to be obtained or handled with
respect to the execution and performance of this Agreement and grant of the Equity Transfer Option or Asset Purchase Option hereunder,
the Company shall endeavor to assist in satisfying the above conditions.

 

		7.1.2.	Without
the WFOE’s prior written consent, the Company shall not assist or permit the Company Shareholders to transfer or otherwise
dispose of any Shareholder Equity or create any encumbrance or other third party rights on any Shareholder Equity.

 

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		7.1.3.	Without
the WFOE’s prior written consent, the Company shall not transfer or otherwise dispose of any Material Asset (other than
in the ordinary course of business) or create any encumbrance or other third party rights on any Company Assets.

 

		7.1.4.	The
Company shall not itself nor permit others to act in such a way as to adversely affect the interests of the WFOE under this Agreement,
including without limitation, any behavior or action that is subject to Article 6.1.

 

	7.2	Within
the valid term of this Agreement, once the WFOE gives its Exercise Notice:

 

		7.2.1	the
Company shall promptly cause the Company Shareholders to convene a meeting of the Shareholder, pass Shareholder’s resolutions
and take all other necessary actions to approve the Company’s transfer of all of the Transferred Assets at the Transfer
Price to the WFOE and/or any other entity or individual so designated by the WFOE;

 

		7.2.2	the
Company shall promptly enter into an asset transfer agreement with the WFOE and/or any other entity or individual designated by
the WFOE to transfer all of the Transferred Assets at the Transfer Price to the WFOE and/or any other entity or individual designated
by the WFOE, and cause the Company Shareholders to provide necessary support to the WFOE (including provision and execution of
all relevant legal documents, performing all government approval and registration procedures and assuming all relevant obligations)
in accordance with the WFOE’s requirements and the PRC Law so that the WFOE and/or any other entity or individual designated
by the WFOE may acquire all the Transferred Assets, free from and clear of any legal defect or any encumbrance, third party restriction
or any other restrictions on the Transferred Assets.

 

Article 8
Confidentiality Obligations

 

	8.1	Regardless
of whether this Agreement is terminated or not, each Party shall keep strictly confidential all business secrets, proprietary
information, customer information and all other information of a confidential nature concerning the other Parties known by it
during the execution and performance of this Agreement (collectively, the “Confidential Information”). Unless
a prior written consent is obtained from the Party disclosing the Confidential Information (the “Disclosing Party”)
or unless it is required to be disclosed to third parties in accordance with relevant laws, rules and regulations (including those
of the United States Securities and Exchange Commission) or the requirements of the place where any affiliate is listed on a stock
exchange, the Party receiving the Confidential Information (the “Receiving Party”) shall not disclose to any third
party any Confidential Information. The Receiving Party shall not use any Confidential Information other than for the purpose
of performing this Agreement.

 

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	8.2	The
following information shall not be deemed part of the Confidential Information:

 

		(a)	any
information that has been lawfully acquired by the receiving Party prior to entering into the Agreement as evidenced by other
written documents;

 

		(b)	any
information entering the public domain not attributable to the fault of the Party receiving the information; or

 

		(c)	any
information lawfully acquired by the Party receiving the information through other sources after its receipt of such information.

 

	8.3	For
purposes of performing this Agreement, the Receiving Party may disclose the Confidential Information to its relevant employees,
agents or professionals retained by it. However, the Receiving Party shall ensure that the aforesaid persons shall comply with
all relevant terms and conditions of this Article 8. In addition, the Receiving Party shall be responsible for any liability
incurred as a result of such persons’ breach of the relevant terms and conditions of this Article 8.

 

	8.4	Notwithstanding
any other provision contained herein, the effect of this Article 8 shall not be affected by the termination of this Agreement.

 

Article 9
Term of Agreement

 

	9.1	This
Agreement shall become effective immediately upon the signing of this Agreement by all parties. This Agreement shall terminate
after all the Shareholder Equity and the Company Assets are lawfully transferred to the WFOE and/or any other entity or individual
designated by the WFOE pursuant to the provisions of this Agreement.

 

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Article 10
Notices

 

	10.1	Any
notice, request, demand and other correspondence required by this Agreement or made in accordance with this Agreement shall be
made in written form and delivered to the following address in person, by fax, telegram, telex, email, registered mail (postage
paid) or express mail.

 

To
the Company Shareholders:

Shareholder
A: Minfei Bao

Address:
Room 10A, Block A, Building 1, SHOUDIRONGYU, West Xiangshan Street, Overseas Chinese Town, Nanshan District, Shenzhen

Email:
bminfei@utimemobile.com

Shareholder
B: Min He

Address:
Hengxiang, Yushan Community, Hengdian Town, Dongyang City, Zhejiang province, P.R.China

Email:
568987798@qq.com

 

To
the WFOE: Shenzhen UTime Technology Consulting Co., Ltd.

Address:
No. 11, 13, 15 and A702, Haitian Road, Binhai Community, Yuehai Sub-District, Nanshan District, Shenzhen,
P.R.China

Attention:
Minfei Bao

Email:
bminfei@utimemobile.com

 

To
the Company: United Time Technology Company Limited

Address:
F2.64D-403, Tian ZhanBuilding, Tian An Che Kung Temple Industrial Zone, Xiangmi Lake, Futian District, Shenzhen, P.R.China

Attention:
Minfei Bao

Email:
bminfei@utimemobile.com

 

	10.2	If
any such notice or other correspondence is transmitted by fax, telegram, telex or email, it shall be treated as delivered immediately
upon transmission; if delivered in person, it shall be treated as delivered at the time of delivery; if delivered by registered
mail or express mail, it shall be treated as delivered three (3) days after posting.

 

Article 11
Defaulting Liability

 

	11.1	The
Parties agree and confirm that, if any of the Parties (the “Defaulting Party”) substantially violates any agreement
herein or substantially fails to perform or delays performance of any of the obligations hereunder, such violation, failure or
delay shall constitute a default under this Agreement (a “Default”). The non-defaulting Party shall have the
right, within a reasonable period, to request the Defaulting Party to rectify or take remedial actions. If the Defaulting Party
fails to rectify such Default or take remedial actions within such reasonable period or within ten (10) days after the non-defaulting
Party notifies the Defaulting Party in writing requiring the Default to be rectified, then the non-default Party will be entitled
to decide at its own discretion as follows:

 

		11.1.1.	if
any Company Shareholder or the Company is the Defaulting Party, the WFOE shall be entitled to terminate this Agreement and require
the Defaulting Party to indemnify the non-defaulting parties for any and all damages;

 

		11.1.2.	if
the WFOE is the Defaulting Party, the non-defaulting Party shall be entitled to indemnification from the Defaulting Party, but
unless otherwise provided for by the PRC Law, the non-defaulting Party has no right to terminate or cancel this Agreement under
any circumstances.

 

	11.2	Notwithstanding
any other provision herein, the effect of this Article 11 shall not be affected by the termination of this Agreement.

 

    13 / 19

     

    

 

Article 12
Miscellaneous

 

	12.1	This
Agreement is written in English and translated into Chinese. In the event of any discrepancy between the two versions, the English
version shall prevail. This Agreement is made with four (4) original copies, with one (1) original to be retained by each
Party hereto.

 

	12.2	The
execution, effectiveness, performance, revision, interpretation and termination of this Agreement shall be governed by PRC Law.

 

	12.3	Any
dispute arising out of or in connection with this Agreement shall be resolved through consultations among the Parties. In case
the Parties fail to reach agreement within thirty (30) days after a dispute arises, such dispute shall be submitted to the China
International Economic and Trade Arbitration Commission (CIETAC) for arbitration in Beijing in accordance with CIETAC’s
arbitration rules in effect at the time of applying for arbitration. The arbitration shall be conducted in Chinese. The arbitration
judgment shall be final and binding on the Parties.

 

	12.4	None
of the rights, powers or remedies granted to any Party by any provision herein shall preclude any other rights, powers or remedies
available to such Party at law and under the other provisions of this Agreement. In addition, a Party’s exercise of any
of its rights, powers and remedies shall not exclude such Party from exercising any of its other rights, powers and remedies.

 

	12.5	No
failure or delay by a Party in exercising any rights, powers and remedies available to it hereunder or at law (hereinafter referred
to as “Such Rights”) shall result in a waiver thereof, nor shall the waiver of any single or part of Such Rights
exclude such Party from exercising Such Rights in any other way and exercising other rights of such Party.

 

	12.6	The
headings of the provisions herein are for reference only, and in no event shall such headings be used for or affect the interpretation
of the provisions hereof.

 

	12.7	Each
provision contained herein shall be severable and independent from each of the other provisions. If any one or more provision
herein is deemed invalid, illegal or unenforceable at any time, the validity, legality and enforceability of the remaining provisions
herein shall not be affected as a result thereof.

 

	12.8	This
Agreement, when signed, shall supersede any prior legal documents executed by and among the Parties with respect to the subject
matter hereof. Any amendment or supplement hereto shall be made in writing and shall become effective only upon due execution
by the Parties hereto.

 

	12.9	Without
the prior written consent of other Parties, none of the Parties shall transfer any of its rights and/or obligations hereunder
to any third party.

 

	12.10	This
Agreement shall be binding on the legal successors or assigns of the Parties.

 

    14 / 19

     

    

 

[The
remainder of this page is intentionally left blank]

 

    15 / 19

     

    

 

[Signature
Page of Second Amended and Restated Exclusive Call Option Agreement]

 

IN
WITNESS WHEREOF, the following Parties have executed this Agreement to be executed on the date and at the place first above
written.

 

	Shareholder A: Minfei Bao (Signature):	 	/s/ Minfei Bao	 
	 	 	 	 
	Shareholder B: Min He (Signature):	 	/s/ Min He	 

 

Shenzhen
UTime Technology Consulting Co., Ltd. (Seal)

 

	Authorized Representative (Signature):	 	/s/ Minfei Bao	 
	 	 	Name: Minfei Bao	 

 

United
Time Technology Company Limited (Seal)

	 	 	 	 
	Authorized
    Representative (Signature):	 	/s/
    Minfei Bao	 
	 	 	Name:
    Minfei Bao	 

 

    16 / 19

     

    

 

Appendix
1:

 

Company’s
General Information

 

	Company
    name:	United
Time Technology Company Limited
	 	 
	Registered
    address:	F2.64D-403,
    Tian Zhan Building, Tian An Che Kung 

Temple Industrial Zone, Xiangmi Lake, Futian

 District, Shenzhen, P.R.China (Company Seal)
	 	 
	Registered
        capital:

         

        Legal
        Representative:
	RMB
        45,263,022

         

        Minfei
        Bao

	 	 
	Shareholding
    structure:	 

 

	Shareholder’s name	 	Contribution in
 registered capital	 	Percentage of
 contribution	 	 	Method of
 contribution
	Minfei Bao	 	RMB 43,884,313	 	 	96.95	%	 	Currency
	Min He	 	RMB 1,378,709	 	 	3.05	%	 	Currency
	Total	 	RMB 45,263,022	 	 	100	%	 	Currency

 

    17 / 19

     

    

 

Appendix
2:

 

Form of
Exercise Notice

 

To:
[Name of Shareholders]

 

Whereas,
we entered into a Second Amended and Restated Exclusive Call Option Agreement (the “Exclusive Call Option Agreement”)
with you and [Name of Variable Interest Entity] (the “Company”) on September 4, 2019 and we reached an agreement that
you shall transfer the equity you hold in the Company to us or any third party designated by us at our request to the extent permitted
by the PRC laws and regulations.

 

Therefore,
we hereby give this notice to you as follows:

 

We
hereby require to exercise the Equity Transfer Option under the Exclusive Call Option Agreement and we/[·] [name of company/individual]
designated by us will acquire the [·]% of the equity you hold in the Company (the “Proposed Acquired Equity”).
Upon your receipt of this notice, you shall immediately transfer all the Proposed Acquired Equity to us/[name of designated company/individual]
pursuant to the provisions of the Option Agreement.

 

Best
regards

 

	 	[Name
    of WFOE] (Seal of Shenzhen
	 	UTime
    Technology Consulting
	 	Co.,
    Ltd Affixed)
	 	 
	 	Signature:
    /s/
	 	 
	 	Date:

 

    18 / 19

     

    

 

Appendix 3:

 

Form of
Exercise Notice

 

To:
[Name of VIE]

 

Whereas,
we entered into a Second Amended and Restated Exclusive Call Option Agreement (the “Exclusive Call Option Agreement”)
with you, [Name of Shareholders] on September 4, 2019 and we reached an agreement that you shall transfer your assets to us or
any third party designated by us at our request to the extent permitted by the PRC laws and regulations.

 

Therefore,
we hereby give this notice to you as follows:

 

We
hereby require to exercise the Asset Purchase Option under the Exclusive Call Option Agreement and we/[·] [name of company/individual]
designated by us will acquire the assets owned by you as stated in a separate list (the “Proposed Acquired Assets”).
Upon your receipt of this notice, you shall immediately transfer all the Proposed Acquired Assets to us/[name of designated company/individual]
pursuant to the provisions of the Option Agreement.

 

Best
regards

 

	 	[Name
    of WFOE] (Seal of Shenzhen
	 	UTime
    Technology Consulting
	 	Co.,
    Ltd Affixed)
	 	 
	 	Signature:
    /s/
	 	 
	 	Date:

 

 

19
/ 19Exhibit
10.3

 

Exclusive
Technical Consultation and Service Agreement

 

This
Exclusive Technical Consultation and Service Agreement (this “Agreement”) is entered into in Shenzhen, the
People’s Republic of China (the “PRC”) on March 19, 2019, by and between the following Parties:

 

Party
A: Shenzhen United Time Technology Consulting Co., Ltd.

Address:
No.11, 13, 15 and A702, Haitian Road, Binhai Community, Yuehai Sub-District, Nanshan District, Shenzhen, P.R.China

 

Party
B: United Time Technology Company Limited

Address:
F2.64D-403, Tian Zhan Building, Tian An Che Kung Temple Industrial Zone, Xiangmi Lake, Futian District, Shenzhen, P.R.China

 

(Party
A and Party B may be referred to herein individually as, a “Party” and collectively as the “Parties.”)

 

Whereas:

 

(1)
Party A is a wholly foreign-owned enterprise, duly incorporated and validly existing under the laws of the PRC:

 

(2)
Party B is a limited liability company, incorporated in Shenzhen, China and validly existing under the laws of the PRC: and

 

(3)
For the purpose of operating its business, Party B has decided to employ Party A as its exclusive technical service supplier to
provide software technology development, technical consulting and technical services related to Party B’s business (as defined
below). Party A agrees to provide Party B with the corresponding technical services in accordance with the provisions of this
Agreement.

 

THEREFORE,
the Parties, through amicable consultation, hereby agree as follows in respect of the specific issues concerning the exclusive
technical service is to be provided by Party A to Party B:

 

Article
1 Definition and Interpretation

 

		1.1	Except
as otherwise defined in the terms or context hereof, the following terms in this Agreement shall have the following meanings:

 

		“Party
                              B’s Business” means all businesses that Party B is currently operating and developing
                              at any time during the term of this Agreement.

 

		“Services”
                              means the services provided by Party A to Party B in relation to Party B’s business, including
                              but not limited to:

 

		(1)	licensing
Party B to use related software required by its business;

		(2)	providing
technical support related to Party B’s Business;

		(3)	providing
professional consultation services related to Party B’s Business;

		(4)	daily
management, maintenance and updating of hardware devices and databases;

		(5)	training
of technical and business personnel of Party B;

		(6)	providing
market research, planning and development services;

		(7)	providing
business planning and strategy (advisory suggestions);

		(8)	providing
client support and development services (advisory suggestions); and

		(9)	other
relevant technical services and consulting services provided at the request of Party B from time to time as permitted by Chinese
law.

 

    1 / 8

     

    

 

		“Service
                              Team” means the team established by Party A in order to provide Party B with the Services
                              under this Agreement, including employees engaged by Party A, independent third party professional
                              consultants and other personnel engaged by Party A.

 

		“Service
                                         Fees” means all fees payable by Party B to Party A pursuant to Article 3 of
                                         this Agreement in respect of the Services provided by Party A.

 

		“Operating
Revenue” means, in any single fiscal year during the effective term of this Agreement, the total revenue generated by
Party B in its daily operation of the business of that year as recorded under the column entitled “Revenue of Main Business”
(or other such similarly named column) in the audited financial statements prepared in accordance with the accounting standards
of the PRC.

 

		“Annual
Business Plan” means the development plan and budget report for Party B’s Business in the next calendar year which
is prepared by Party B with the assistance of Party A pursuant to this Agreement before November 30 of each year.

 

		“Equipment”
means any and all equipment owned and purchased by Party A from time to time and used for the purpose of providing services.

 

	1.2	References
                                         to any laws and regulations (the “Law”) herein shall be deemed to include
                                         (1) references to any amendments, changes, supplements and reenactments of such Law,
                                         irrespective of whether they take effect before or after the execution of this Agreement;
                                         and (2) references to any other decisions, notices or regulations enacted in accordance
                                         therewith or effective as a result thereof.

 

		1.3	Except
as otherwise stated in the context herein, all references to an article, clause, item or paragraph shall refer to a corresponding
article, clause, item or paragraph of this Agreement.

 

Article
2 Exclusive Technical Consulting Services

 

		2.1	Party
                                         A is the exclusive technology service provider to Party B, except for the circumstances
                                         set forth in Article 2.3 or Article 2.4 of this Agreement, any technical service (including
                                         but not limited to technical consulting services related to Party B’s business)
                                         as required during the course of business operated by Party B must be rendered by Party
                                         A on an exclusive basis. Without the prior written consent of Party A, Party B shall
                                         not seek any technical service under this Agreement rendered by any third party by any
                                         means other than Party A.

 

		2.2	Party
A shall be equipped with the Equipment and Service Team reasonably necessary for its provision of Services and purchase, acquire
new Equipment and deploy new personnel according to the Annual Business Plan and reasonable requirements of Party B so as to achieve
the purpose of Party A to provide Party B with high-quality services in accordance with this Agreement. However, from time to
time, Party A may replace any member of the Service Team or change the work duties and responsibilities of any member of the Service
Team at its sole discretion, provided that such replacement or change of work duties and responsibilities shall not materially
adversely affect the day-to-day business operations of Party B.

 

    2 / 8

     

    

 

		2.3	Party
                                         B agrees that in event that Party A does not possess the capability to render specific
                                         technical services to Party B objectively, such technical service shall be rendered by
                                         an appropriate third party solely appointed by Party A in accordance with the terms and
                                         conditions of this Agreement. Party B further agrees that, in any case, Party A shall
                                         have the right to appoint any third party adequately qualified in absence of any reason
                                         to replace Party A and render technical service which should have been rendered by Party
                                         A in accordance with the Agreement, and Party B agrees to accept appropriate technical
                                         services rendered by such appropriate third party entrusted by Party A.

 

		2.4	If
                                         any of the following circumstances occurs, Party B has the right to seek for any third
                                         party to render technical service to Party B:

 

		2.3.1	Party
A has voluntarily waived its rights as the exclusive technical service provider and agreed in writing that such technical service
shall be rendered by a third party to Party B;

 

		2.3.2	Party
A is unable to provide a certain technical service to Party B objectively and fails to appoint an appropriate third party to provide
such technical service to Party B; or

 

		2.3.3	Party
A decides not to provide a certain technical service to Party B and fails to appoint an appropriate third party to provide such
technical service to Party B.

 

Article 3
Service Fees

 

		3.1	In
respect of the Services to be provided by Party A pursuant to the terms of this Agreement, Party B shall pay to Party A the Service
Fees as follows:

 

		3.1.1	Service
Fees equivalent to one hundred percent (100%) of the total Operating Revenue of Party B or such other amount otherwise agreed
by the Parties; and

 

		3.1.2	Services
Fees otherwise confirmed by the Parties for specific technical services and consulting services provided by Party A in accordance
with Party B’s requirement from time to time.

 

		3.2	Party
B shall, within three months of the end of each calendar year, pay the Service Fees determined under Article 3.1 hereof into a
bank account designated by Party A on a lump-sum basis. In case Party A changes its bank account, it shall notify Party B in writing
of such change at least seven (7) working days in advance of such change.

 

		3.3	The
Parties agree that, in principle, the payment of the abovementioned Services Fees shall not cause any difficulty to either Party’s
operation for any year. For the aforesaid purposes, Party A may agree to the deferred payment of the Services Fees by Party B,
or upon the mutual agreement by the Parties through negotiation, Party A may adjust, pursuant to a written agreement with Party
B, the percentage of calculation and/or the specific amount of the Services Fees payable by Party B to Party A as specified in
Article 3.1 above.

 

		3.4	If
Party A designates a third party to provide Party B with the Technology Service in accordance with this Agreement, Party A may
choose any of the following ways of payment for such third party’s fees and require Party B to implement:

 

		3.4.1	Party
B pays the fees for the Technology Service to the third party directly; or

 

		3.4.2	Party
B pays the fees for the Technology Service to Party A directly and Party A is responsible for settling with such third party.

 

		3.5	Where
Party A designates a third party to provide Party B with the Technology Service in accordance with this Agreement, in the event
Party A, assumes any joint and several liability to such third party at the request of Party B, Party B shall compensate Party
A for all economic losses incurred thereby.

 

    3 / 8

     

    

 

Article 4
Working Product, Intellectual Property and Proprietary Information

 

		4.1	The
                                         Parties agree and confirm that Party A shall hold the ownership of work product, intellectual
                                         property and proprietary information during its term of providing the consulting services,
                                         except for the following:

 

		4.1.1	Intellectual
property owned legally by a third party which is licensed to or otherwise permitted to be used by Party A or Party B; and

 

		4.1.2	As
may otherwise be agreed to by both Parties in writing.

 

		4.2	During
                                         the term of this Agreement, if Party B requires the use of Party A’s software,
                                         technical systems or other intellectual property (together, the “systems”),
                                         both parties shall enter into a separate agreement defining the scope, method and fee
                                         for the use of such systems.

 

		4.3	For
the purpose of performing this Agreement, Party B may use the work achievements created by Party A in the course of providing
the services under this Agreement in accordance with the provisions of this Agreement; nonetheless, this Agreement does not in
any way permit Party B to use such work achievements in any way for any other purposes.

 

		4.4	Either
party guarantees to the other party that it will compensate the other party for any and all economic losses caused to the other
party due to any infringement of other party’s intellectual property rights (including copyrights, trademark rights, patent
rights and proprietary technology).

 

Article 5
Confidentiality

 

		5.1	Regardless
of whether this Agreement is terminated, the parties shall keep the other party’s trade secrets, proprietary information,
customer information mutually owned by the parties and other relevant information, as well as non-public information (hereinafter
referred to as “Confidential Information”) of any other party obtained during the performance of this Agreement strictly
confidential. The party receiving the confidential information (hereinafter referred to as the “Recipient”) shall
not disclose the confidential information or any part thereof to any other third party except for the prior written consent of
the other party or disclosure as required by the relevant laws and regulations as well as the rules of the relevant stock exchange.
The Recipient shall not use or indirectly use the confidential information or any part thereof except for the purpose of performing
this Agreement.

 

		5.2	If
requested by either Party, the other Party shall return, destroy, or otherwise dispose of all documents, materials and software
that contains or may contain any Confidential Information as requested, and promptly stop using such Confidential Information.

 

		5.3	The
Parties’ obligations under this Article shall survive the termination of this Agreement. Either Party shall still comply
with the confidentiality terms of this Agreement and fulfill the confidentiality obligations as promised, until the other Party
gives consent to the release of such obligations or as a matter of fact, violation of the confidentiality terms herein will not
cause damage of any form to the other Party.

 

		5.4	The
                                         following information is not confidential:
	 	 	 

		(a)	any
                                         information previously known by the Recipient as proved by documentary evidence;

		(b)	information
                                         that entered the public field not due to the fault of the Recipient or is known to the
                                         public due to other reasons; or

		(c)	The
                                         information legally obtained by the Recipient from other sources afterwards.

 

		5.5	The
                                         Recipient may disclose confidential information to its employees and agents concerned
                                         or professionals it hired; nevertheless, the Recipient shall ensure that the above persons
                                         are bound by this Agreement, so that the confidential information is kept confidential,
                                         and they only use the confidential information for the purpose of performing the agreement.

 

		5.6	The
                                         parties agree that the terms of the Agreement will continue to be valid regardless of
                                         whether the Agreement is changed, cancelled or terminated.

 

    4 / 8

     

    

 

Article 6
Payment of Taxes

 

		6.1	The
Parties shall respectively pay taxes to relevant tax authorities in accordance with all relevant laws, regulations and State policies.

 

		6.2	In
the event that either Party pays any tax for the other Party, the paying Party shall submit the tax certificate to the payable
Party as soon as possible, and the payable Party shall compensate the equivalent amount to the paying Party within seven days
after the receipt of such tax certificate.

 

Article 7
Representations, Covenants and Warranties

 

		7.1	Both
of the Parties represent, covenant and warrant to the other Party as follows:

 

		7.1.1	It
is a company lawfully established and validly existing pursuant to the laws of the PRC;

 

		7.1.2	It
is qualified to conduct the transaction hereunder and such transaction is in line with its business scope;

 

		7.1.3	It
has full power and authority to enter into this Agreement, and its authorized representative has obtained full authorization to
execute this Agreement on its behalf. This Agreement is legally and properly signed and delivered. This Agreement constitutes
a legal and binding obligation on it and may be enforceable under the terms of this Agreement;

 

		7.1.4	It
has the ability to perform its obligations hereunder, and such performance will not violate any restrictions of legal documents
binding upon it;

 

		7.1.5	It
is not subject to any liquidation, dissolution or bankruptcy procedures.

 

		7.2	Party
B covenants that during the term of this Agreement, Party B shall notify Party A of any change in Party B’s shareholding
structure thirty days in advance of any such change.

 

		7.3	Party
B shall neither conduct, nor allow any third party to conduct, any act or omission that is detrimental to Party A’s ownership
of technology or any other intellectual property or any other rights of Party A.

 

		7.4	Party
B shall promptly notify Party A of the lawsuits and other unfavorable circumstances and shall make its best efforts to prevent
the loss from expanding.

 

		7.5	Party
B shall not enter into transactions that may materially affect Party B’s assets, liabilities, business operations, shareholding
structure, equity held by third parties and other legal rights (except for generating in the course of normal or daily operations,
disclosing to Party A or obtaining written consent of Party A).

 

Article 8
Liability for Breach of Contract

 

		8.1	Either
Party’s direct or indirect violation of any provisions herein, or failure in assuming or untimely or insufficient assumption
of, any of its obligations hereunder shall constitute a breach of contract. The non-defaulting Party (the “Non-Defaulting
Party”) is entitled to send to the defaulting Party (the “Defaulting Party”) a written notice, requesting
the Defaulting Party to rectify its breach, take sufficient, effective and timely measures to eliminate the effects of breach,
and compensate the Non-Defaulting Party for any losses incurred by the breach.

 

		8.2	After
the occurrence of breach, and in the event that such a breach has made it impossible or unfair for the Non-Defaulting Party to
perform its corresponding obligations hereunder based on the Non-Defaulting Party’s reasonable and objective judgments,
the Non-Defaulting Party is entitled to send to the Defaulting Party a written notice of its temporary suspension of performance
of corresponding obligations hereunder, until the Defaulting Party stops the breach, takes sufficient, effective and timely measures
to eliminate the effects of breach, and compensate the Non- Defaulting Party for any losses incurred by the breach.

 

		8.3	The
losses of the Non-Defaulting Party that should be compensated by the Defaulting Party include direct economic losses and any foreseeable
indirect losses and extra expenses incurred by the breach, including without limitation, attorney’s fees, litigation and
arbitration fees, financial expenses and travel charges.

 

    5 / 8

     

    

 

Article 9
Force Majeure

 

		9.1	“Force
Majeure” shall mean events beyond the reasonable control of the Parties that are unforeseeable or foreseeable but unavoidable,
which cause obstruction in, impact on or delay in either Party’s performance of part or all of its obligations in accordance
with this Agreement, including without limitation, government acts, natural disasters, wars, hacker attacks or any other similar
events.

 

		9.2	The
Party affected by Force Majeure may suspend the performance of relevant obligations hereunder that cannot be performed due to
Force Majeure until the effects of Force Majeure are eliminated, without having to assume any liability for breach of contract,
provided however that such Party shall endeavor to overcome such events and reduce the negative effects to the best of its abilities.

 

		9.3	The
Party affected by Force Majeure shall provide the other Party with valid certificate documents verifying the occurrence of Force
Majeure events, which documents shall be issued by the notary office where the events occur (or other appropriate agencies). In
case the Party affected by Force Majeure cannot provide such certificate documents, the other Party may request such certificate
documents in order to assume the liability for breach of contract in accordance with this Agreement.

 

Article 10
Effectiveness, Amendment, Termination and Term of the Agreement

 

		10.1	This
Agreement takes effect as of the date when it is signed and stamped by the authorized representatives of the Parties and shall
be terminated on the date when Party B dissolves according to law.

 

		10.2	The
parties hereby confirm that this Agreement has been formally signed by the parties. Unless the parties agree in writing to terminate
the Agreement, or this Agreement must be terminated in accordance with this Agreement or applicable PRC laws and regulations,
this Agreement shall continue to be valid.

 

		10.3	Unless
provided otherwise herein, Party A is entitled to unilaterally exercise immediate early termination of this Agreement by sending
a written notice to Party B should any of the following events were to occur:

 

		10.3.1	Party
B breaches this Agreement, and within thirty (30) days after Party A sends out a written notice of breach to Party B, Party
B fails to rectify its breach, take sufficient, effective and timely measures to eliminate the effects of breach and compensate
Party A for any losses incurred by the breach;

 

		10.3.2	Party
B is bankrupt or is subject to any liquidation procedure and such procedure is not revoked within seven (7) days; and

 

		10.3.3	due
to any event of Force Majeure, Party B’s failure to perform this Agreement lasts for more than twenty (20) days.

 

		10.4	The
early termination of this Agreement shall not affect the rights and obligations of the Parties arising out of this Agreement prior
to the early termination date.

 

Article 11
Notice

 

		11.1	Any
notice, request, demand and other correspondence required by this Agreement or made in accordance with this Agreement shall be
made in written form and delivered to the following address in person, by fax, telegram, telex, email, registered mail (postage
paid) or express mail.

 

To
Party A: Shenzhen United Time Technology Consulting Co., Ltd.

Address:
No.11, 13, 15 and A702, Haitian Road, Binhai Community, Yuehai Sub-District, Nanshan District, Shenzhen, P.R.China

		Attention:	

		Email:	

 

To
Party B: United Time Technology Company Limited

Address:
F2.64D-403, Tian Zhan Building, Tian An Che Kung Temple Industrial Zone, Xiangmi Lake, Futian District, Shenzhen, P.R.China

		Attention:	

		Email:	

 

		11.2	If
any such notice or other correspondence is transmitted by fax, telegram, telex or email, it shall be treated as delivered immediately
upon transmission; if delivered in person, it shall be treated as delivered at the time of delivery; if delivered by registered
mail or express mail, it shall be treated as delivered three (3) days after posting.

 

    6 / 8

     

    

 

Article 12
Governing Law and Dispute Resolution

 

		12.1	With
regard to disputes arising out of the interpretation and performance of the terms hereunder, the Parties shall resolve the disputes
through consultations in good faith.

 

		12.2	In
case no resolution can be made, the dispute shall be submitted to the China International Economic and Trade Arbitration Commission
(CIETAC) for arbitration in Beijing in accordance with its arbitration rules then in effect. The arbitration shall be conducted
in Chinese. The arbitration judgment shall be final and binding upon the Parties.

 

		12.3	The
conclusion, effectiveness, implementation and interpretation of this Agreement and resolution of any disputes related thereto
shall all be governed pursuant to the laws of the PRC.

 

Article 13
Miscellaneous

 

		13.1	This
Agreement is written in English and translated into Chinese. In the event of any discrepancy between the two versions, the English
version shall prevail. This Agreement is made with two (2) original copies, with one (1) original to be retained by each Party
hereto, each of which shall have the same legal effect.

 

		13.2	The
headings in this Agreement are written for ease of reference only and in no event shall they affect the interpretation of any
terms of this Agreement.

 

		13.3	The
Parties may amend and supplement this Agreement in the way of a written agreement. Any Amended agreements and supplemental agreements
executed by the Parties will become part of this Agreement, having the same legal effect as this Agreement.

 

		13.4	In
case any term herein becomes all or partly invalid or unenforceable due to violation of law or governmental regulations or other
reasons, the affected part of such term shall be considered to have been removed, provided that the removal of the affected part
of such term shall not affect the legal effect of the remaining part of such term or other terms herein. The Parties shall conclude
new terms through consultations to replace such invalid or unenforceable terms.

 

		13.5	Unless
provided otherwise, a Party’s failure or delay in exercising any of the rights, powers or privileges that it is entitled
to under this Agreement shall not be considered a waiver of such rights, powers or privileges, nor shall any single or partial
exercise of any rights, powers or privileges by a Party preclude its exercise of any other rights, powers or privileges.

 

		13.6	This
Agreement constitutes all agreements reached by the Parties on the subject matter of the cooperation project, and supersedes any
previous or concurrent oral and written agreement, understanding and correspondence relevant to the subject matter of the cooperation
project between the Parties. Unless specifically provided herein, there is no other explicit or implicit obligation or covenant
between the Parties.

 

		13.7	Matters
not covered in this Agreement shall be determined by the Parties separately through consultation.

 

		13.8	Without
prior written consent of Party A, Party B shall not transfer any of its rights and/or obligations under this Agreement to any
third party. To the extent not in contravention of the PRC Laws, Party A is entitled to transfer any of its rights and/or obligations
under this Agreement to any third party designated by it without prior notice to or consent of Party B.

  

		13.9	This
Agreement shall be binding upon the lawful successors of the Parties.

  

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remainder of this page is intentionally left blank]

 

    7 / 8

     

    

 

[Signature
Page of Exclusive Technical Consulting and Service Agreement]

  

IN
WITNESS WHEREOF, the Parties have caused this Exclusive Technical Consultation and Services Agreement to be executed on the
date and at the place first above written.

 

Party
A: Shenzhen United Time Technology Consulting Co., Ltd. (Seal)

 

	Authorized
    Representative (Signature): 	 	/s/
    Minfei Bao	 
	 	Name:	Minfei
    Bao	 

 

Party
B: United Time Technology Company Limited (Seal)

 

	Authorized
    Representative (Signature): 	 	/s/Minfei
    Bao	 
	 	Name:	Minfei
    Bao	 

 

 

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