Document:

Exhibit 10.2

 

SHARE
EXCHANGE AGREEMENT

 

This Share Exchange Agreement
(this “Agreement”) is made and entered into this 17th day of May 2021 by and among CX NETWORK GROUP, INC. (“CXN”
and Seller), a company formed under the laws of Nevada, KUN PENG INTERNATIONAL HOLDINGS LIMITED, (“KPI”), a British Virgin
Islands company limited by shares, and KPI’s shareholders, Kunpeng Tech Limited, Kunpeng TJ Limited, Pui Chun Wong, Sheng Liao,
and Wenqiang Wang (the “KPI Shareholders”). KPI, the KPI Shareholders, and CXN shall be sometimes collectively referred to
as the “Company” and “Buyers”).

 

WHEREAS, the KPI Shareholders
are the owners of record of 100% of the issued and outstanding shares of KPI; and

 

WHEREAS,
the KPI Shareholders desire to acquire from CXN an aggregate of 34,158,391, or approximately 85.4%, of CXN’s shares of Common Stock,
par value $0.0001 per share (the “CXN Shares”), in exchange for 100% of the outstanding shares of KPI (the “Exchange
Shares”); and

 

WHEREAS,
the offer and sale of the CXN Shares by CXN is intended to be exempt from the registration provisions of Section 5 under the Securities
Act of 1933, as amended, (the “Securities Act”) pursuant to the provisions of Regulation S (“Regulation S”) which
was adopted by the Securities and Exchange Commission (the “SEC”) under the Securities Act.

 

NOW, THEREFORE, in
consideration of the mutual terms, conditions, and other agreements set forth herein, the parties hereto hereby agree as follows:

 

ARTICLE I

SHARE EXCHANGE

 

Section 1.01 Share Exchange.
Subject to the terms and conditions of this Agreement, at the Closing, the KPI Shareholders transfer to CXN all of the shares that they
hold in KPI (which constitutes 100% of the equity ownership of KPI) and, in consideration therefor, CXN shall issue an aggregate of 34,158,391
newly issued, fully paid and non-assessable shares of CXN, par value $0.0001, to the KPI Shareholders as follows:

 

	Kunpeng Tech Limited	 	1,964,107	 	 CXN Shares
	Kunpeng TJ Limited	 	6,575,490	 	CXN Shares
	Pui Chun Wong	 	22,202,954	 	 CXN Shares
	Sheng Liao 	 	1,707,920	 	CXN Shares
	Wenqiang Wang 	 	1,707,920	 	CXN Shares

 

ARTICLE II

CLOSING

 

Section 2.01 Date and
Place of Closing. The closing (the “Closing”) of the transactions contemplated hereby shall be, subject to the satisfaction
or waiver of the applicable conditions set forth herein, take place in Beijing, China, at the offices of King Eagle (as defined below),
or other place as the parties may mutually agree, at 10:00 a.m. (Beijing, China Time) on or before May 21, 2021 (“Closing Date”);
provided that the Parties may mutually agree in writing to a later date.

 

     

     

    

 

Section 2.02 Deliveries
at Closing.

 

(a) At
the Closing, CXN shall deliver to each KPI Shareholder a certificate evidencing the number of newly issued CXN Shares set forth in Section
1.01, above.

 

(b) At
or prior to the Closing, each KPI Shareholder shall deliver to CXN all of the shares that they own in KPI duly endorsed for transfer to
CXN together with a bought note, instrument of transfer, and such other documentation or instruments as shall be necessary to transfer
the Exchange Shares.

 

ARTICLE III

REPRESENTATIONS AND WARRANTIES OF CXN

 

CXN hereby represents, warrants,
and agrees as of the date of this Agreement and the Closing Date as follows:

 

Section 3.01 Corporate
Organization

 

 a. CXN is a corporation
duly organized, validly existing, and in good standing under the laws of Nevada, and has all requisite corporate power and authority to
own its properties and assets and to conduct its business and is duly qualified to do business and in good standing in each jurisdiction
in which the nature of the business conducted by it or the ownership or leasing of its properties makes such qualification and being in
good standing necessary, except where the failure to be so qualified and in good standing will not have a material adverse effect on the
business, operations, properties, assets, condition or results of operation of CXN.

 

 b. Copies of the Certificate
of Incorporation and Bylaws of CXN, with all amendments thereto to the date hereof, have been furnished to KPI and each of the KPI Shareholders,
and such copies are accurate and complete as of the date hereof. The minute books of CXN are current as required by law, contain the minutes
of all meetings of the Board of Directors and shareholders of CXN from its date of incorporation to the date of this Agreement, and adequately
reflect all material actions taken by the Board of Directors and shareholders of CXN.

 

Section
3.02 Capitalization of CXN. The authorized capital stock of CXN consists of 40,000,000 shares of common stock, par value
$0.0001 per share. As of the date hereof, CXN has 21,376,918 shares of common stock issued and outstanding. All of the issued shares of
capital stock of CXN have been duly authorized, and are validly issued, fully paid and non-assessable. Mr. Wenhai Xia is the owner
of 16,683,334 shares of CXN common stock, and he has agreed to cancel 15,535,309 shares that he holds and contribute them back to the
Company. The cancellation and contribution of those shares to the Company by Mr. Xia will facilitate the transaction and adjust the capitalization
of the CXN so that an additional 15,535,309 shares may be issued to the KPI Shareholders.

 

    2

     

    

 

The parties agree that they
have been informed of the issuances of these CXN Shares, and that all such issuances of CXN Shares pursuant to this Agreement will be
in accordance with the provisions of this Agreement. All of the CXN Shares to be issued pursuant to this Agreement have been duly authorized,
and will be validly issued, fully paid and non-assessable, and no personal liability will attach to the ownership thereof, and in each
instance, they will have been issued in accordance with the registration requirements of applicable securities laws or an exemption therefrom.
As of the date of this Agreement there are no outstanding options, warrants, agreements, commitments, conversion rights, preemptive rights
or other rights to subscribe for, purchase or otherwise acquire any shares of capital stock or any un-issued or treasury shares of capital
stock of CXN.

 

Section 3.03 Subsidiaries
and Equity Investments. CXN has no subsidiaries or equity interest in any corporation, partnership, or joint venture except as provided
in this Agreement.

 

Section 3.04 Authorization
and Validity of Agreements. CXN has all corporate power and authority to execute and deliver this Agreement, to perform its obligations
hereunder, and to consummate the transactions contemplated hereby and upon the execution and delivery by KPI and the performance of its
obligations herein, this Agreement will constitute a legal, valid and binding obligation of CXN. The execution and delivery of this Agreement
by CXN and the consummation by CXN of the transactions contemplated hereby have been duly authorized by all necessary corporate action
of CXN, and no other corporate proceedings on the part of CXN are necessary to authorize this Agreement or to consummate the transactions
contemplated hereby.

 

Section 3.05 No
Conflict or Violation. The execution, delivery and performance of this Agreement by CXN do not and will not violate or conflict with
any provision of its Certificate of Incorporation and Bylaws, and do not and will not violate any provision of law, or any order, judgment
or decree of any court or other governmental or regulatory authority, nor violate or result in a breach of or constitute (with due notice
or lapse of time or both) a default under, or give to any other entity any right of termination, amendment, acceleration or cancellation
of any contract, lease, loan agreement, mortgage, security agreement, trust indenture or other agreement or instrument to which CXN is
a party or by which it is bound or to which any of its properties or assets is subject, nor will it result in the creation or imposition
of any lien, charge or encumbrance of any kind whatsoever upon any of the properties or assets of CXN, nor will it result in the cancellation,
modification, revocation or suspension of any of the licenses, franchises or permits to which CXN is bound.

 

Section 3.06 Consents
and Approvals. No consent, waiver, authorization, or approval of any governmental or regulatory authority, domestic or foreign, or
of any other person, firm or corporation is required in connection with the execution and delivery of this Agreement by CXN or the performance
by CXN of its obligations hereunder.

 

Section 3.07 Absence
of Certain Changes or Events.

 

a.
As of the date of this Agreement, CXN does not know or have reason to know of any event, condition, circumstance or prospective development
which threatens or may threaten to have a material adverse effect on the assets, properties, operations, prospects, net income or financial
condition of CXN.

 

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b. Since
its inception, there has not been any declaration, setting aside or payment of dividends or distributions with respect to shares of capital
stock of CXN.

 

c. Since
its inception, there has not been an increase in the compensation payable or to become payable to any director or officer of CXN.

 

Section 3.08 Disclosure.
This Agreement does not contain any untrue statement of a material fact or omit any material fact necessary in order to make the statements
contained herein and/or therein not misleading.

 

Section 3.09 Litigation.
There is no action, suit, proceeding or investigation pending or threatened against CXN that may affect the validity of this Agreement
or the right of CXN to enter into this Agreement or to consummate the transactions contemplated hereby.

 

Section 3.10 Securities
Laws.

 

a.
CXN has complied in all material respects with applicable United States securities laws, rules, and regulations, as such laws, rules,
and regulations apply to CXN and its securities.

 

b.
All shares of capital stock of CXN have been issued in accordance with applicable United States securities laws, rules, and regulations.
There are no stop orders in effect with respect to any of CXN’s securities.

 

Section 3.11 Tax Returns,
Payments and Elections. CXN has timely filed all tax returns, statements, reports, declarations, and other forms and documents and
has, to date, paid all taxes due.

 

Section 3.12 ’34
Act Reports. None of CXN’s filings with the SEC contains any untrue statement of a material fact or omits to state a material
fact necessary to make the statements therein not misleading, in light of the circumstances in which they were made.

  

Section 3.13 Survival.
Each of the representations and warranties set forth in this Article III shall be deemed represented and made by CXN at the Closing as
if made at such time.

 

Section 3.14  Legend.
Each certificate representing the CXN Shares shall be endorsed with the following legends, in addition to any other legend required to
be placed thereon by applicable United States federal or state securities laws:

 

“THESE SECURITIES
ARE BEING OFFERED TO SHAREHOLDERS WHO ARE NOT U.S. PERSONS (AS DEFINED IN REGULATION S UNDER THE SECURITIES ACT OF 1933, AS AMENDED (“THE
SECURITIES ACT”) AND WITHOUT REGISTRATION WITH THE UNITED STATES SECURITIES AND EXCHANGE COMMISSION UNDER THE SECURITIES ACT IN
RELIANCE UPON REGULATION S PROMULGATED UNDER THE SECURITIES ACT.”

 

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“TRANSFER OF THESE
SECURITIES IS PROHIBITED, EXCEPT IN ACCORDANCE WITH THE PROVISIONS OF REGULATION S PROMULGATED UNDER THE SECURITIES ACT, PURSUANT TO REGISTRATION
UNDER THE SECURITIES ACT OR PURSUANT TO AVAILABLE EXEMPTION FROM REGISTRATION.  HEDGING TRANSACTIONS MAY NOT BE CONDUCTED UNLESS
IN COMPLIANCE WITH THE SECURITIES ACT.”

 

ARTICLE IV

REPRESENTATIONS AND WARRANTIES OF KPI AND EACH KPI SHAREHOLDER 

 

KPI and the KPI Shareholders,
severally, represent, warrant, and agree as follows as of the date of this Agreement and the Closing Date:

 

Section
4.01 Corporate Organization.

 

a. KPI
is a corporation incorporated in the British Virgin Islands. It is duly organized, validly existing and in good standing in the British
Virgin Islands and has all requisite corporate power and authority to own its properties and assets and to conduct its business and is
duly qualified to do business, is in good standing in each jurisdiction wherein the nature of the business conducted by KPI or the ownership
or leasing of its properties makes such qualification and being in good standing necessary, except where the failure to be so qualified
and in good standing will not have a material adverse effect on the business, operations, properties, assets, condition or results of
operation of KPI.

 

b. Copies
of the Articles of Association and the Memorandum of Association of KPI, with all amendments thereto to the date hereof, have been furnished
to CXN, and such copies are accurate and complete as of the date hereof. The minute books of KPI are current as required by law, contain
the minutes of all meetings of the Boards of Directors and shareholders of KPI, and adequately reflect all material actions taken by KPI’s
Board of Directors and KPI’s shareholders.

 

Section
4.02 Title to Exchange Shares and Chain of Ownership.

 

As
of the date hereof and on the Closing Date, each KPI Shareholder represents and warrants that he/she/it has and will have good and marketable
title to his/her/its Exchange Shares and that he/she/it is transferring his/her/its Exchange Shares to CXN free and clear of any liens,
claims or encumbrances. Further, each KPI Shareholder has and will have the right to transfer his/her/its Exchange Shares without consent
of any other person or entity.

 

KPI
wholly owns Kunpeng (China) Industrial Development Company Limited, a Hong Kong limited liability company (“KCIDC”); KCIDC
owns 92% of the equity of King Eagle (China) Co, Ltd. (PRC), which is a foreign invested entity in the Peoples Republic of China (“King
Eagle China”); King Eagle China has entered into various agreements with King Eagle (Tianjin) Technology Co., Ltd. (“King
Eagle Technology”) under which it effectively controls King Eagle Technology through a series of contracts or variable interest
entity arrangements. Each of the above-listed companies is duly organized, validly existing, and in good standing under the laws of their
jurisdictions of incorporation, and each has all requisite corporate power and authority to own its properties and assets, and to conduct
its business as now conducted, and is duly qualified to do business, is in good standing in each jurisdiction wherein the nature of the
business conducted by or the ownership or leasing of its properties makes such qualification and being in good standing necessary, except
where the failure to be so qualified and in good standing will not have a material adverse effect on the business, operations, properties,
assets, condition or results of operation of any of the companies.

 

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Section 4.03 Authorization
and Validity of Agreements. KPI has all corporate power and authority to execute and deliver this Agreement, to perform its obligations
hereunder, and to consummate the transactions contemplated hereby. The execution and delivery of this Agreement by KPI, and the consummation
of the transactions contemplated hereby have been duly authorized by all necessary corporate action, and no other corporate proceedings
on the part of KPI are necessary to authorize this Agreement or to consummate the transactions contemplated hereby. The KPI Shareholders
have approved this Agreement on behalf of KPI, and no other stockholder approvals are required to consummate the transactions contemplated
hereby. The KPI Shareholders are competent and duly authorized to execute this Agreement and have the power to execute and perform this
Agreement. No other proceedings on the part of KPI or any KPI Shareholder are necessary to authorize this Agreement or to consummate the
transactions contemplated hereby.

 

Section 4.04 No
Conflict or Violation. The execution, delivery and performance of this Agreement by KPI or any KPI Shareholder does not and will not
violate or conflict with any provision of the constituent documents of KPI, and does not and will not violate any provision of law, or
any order, judgment or decree of any court or other governmental or regulatory authority, nor violate, result in a breach of or constitute
(with due notice or lapse of time or both) a default under or give to any other entity any right of termination, amendment, acceleration
or cancellation of any contract, lease, loan agreement, mortgage, security agreement, trust indenture or other agreement or instrument
to which KPI or any KPI Shareholder is a party or by which any of them is bound or to which any of their respective properties or assets
is subject, nor result in the creation or imposition of any lien, charge or encumbrance of any kind whatsoever upon any of the properties
or assets of KPI or any KPI Shareholder, nor result in the cancellation, modification, revocation or suspension of any of the licenses,
franchises or permits to which KPI or any KPI Shareholder is bound.

 

Section
4.05 Investment Representations.

 

a.
 The CXN Shares will be acquired hereunder solely for the account of the KPI Shareholders, for
investment. Each KPI Shareholder understands that the CXN Shares must be held indefinitely unless such CXN Shares are resold in accordance
with the provisions of Regulation S, are subsequently registered under the Securities Act or an exemption from registration is available.
Each KPI Shareholder understands and is able to bear any economic risks associated with such investment in the CXN Shares. Each KPI Shareholder
has had full access to all the information he/she/it considers necessary or appropriate to make an informed investment decision with respect
to the CXN Shares to be acquired under this Agreement. Each KPI Shareholder further has had an opportunity to ask questions and receive
answers from CXN’s directors regarding CXN and to obtain additional information (to the extent CXN’s directors possessed such
information or could acquire it without unreasonable effort or expense) necessary to verify any information furnished to such shareholder
or to which such shareholder had access. Each KPI Shareholder is at the time of the offer and execution of this Agreement, domiciled outside
the United States (a “Non-U.S. Shareholder”) and/or is an “accredited investor” (as such term is defined in Rule
501(a) of Regulation D promulgated by the SEC under the Securities Act). Each KPI Shareholder understands that CXN is under no obligation
to register the CXN Shares under the Securities Act, or to assist such KPI Shareholder in complying with the Securities Act or the securities
laws of any state of the United States or of any foreign jurisdiction. 

 

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b. No Non-U.S. Shareholder,
nor any affiliate of any Non-U.S. Shareholder, nor any person acting on behalf of any Non-U.S. Shareholder or on behalf of any such affiliate,
has engaged or will engage in any activity undertaken for the purpose of, or that reasonably could be expected to have the effect of,
conditioning the markets in the United States for the CXN Shares, including, but not limited to, effecting any sale or short sale of securities
through any Non-U.S. Shareholder or any affiliate of any Non-U.S. Shareholder prior to the expiration of any restricted period contained
in Regulation S promulgated under the Securities Act (any such activity being defined herein as a “Directed Selling Effort”).
To the best knowledge of the Non-U.S. Shareholders, this Agreement and the transactions contemplated herein are not part of a plan or
scheme to evade the registration provisions of the Securities Act, and the CXN Shares are being acquired for investment purposes by the
Non-U.S. Shareholder. The Non-U.S. Shareholders agree that all offers and sales of CXN Shares from the date hereof and through the expiration
of any restricted period set forth in Rule 903 of Regulation S (as the same may be amended from time to time hereafter) shall not be made
to U.S. Persons or for the account or benefit of U.S. Persons and shall otherwise be made in compliance with the provisions of Regulation
S and any other applicable provisions of the Securities Act. Neither any Non-U.S. Shareholder nor the representatives of any Non-U.S.
Shareholder have conducted any Directed Selling Effort as that term is used and defined in Rule 902 of Regulation S and no Non-U.S. Shareholder
nor any representative of any Non-U.S. Shareholder will engage in any such Directed Selling Effort within the United States through the
expiration of any restricted period set forth in Rule 903 of Regulation S. 

 

Section
4.06 Not a Broker-Dealer. Each of the KPI Shareholders represents that he/she/it is not a registered representative under the
Financial Industry Regulatory Authority (“FINRA”), a member of FINRA or associated or Affiliated (as defined below) with any
member of FINRA, nor a broker-dealer registered with the SEC under the Exchange Act of 1934 (“Exchange Act”) or engaged in
a business that would require it to be so registered, nor is he/she/it an Affiliate of a broker-dealer or any Person engaged in a business
that would require him/her/it to be registered as a broker-dealer. In the event any KPI Shareholder is a member of FINRA, or associated
or Affiliated with a member of FINRA, such KPI Shareholder agrees, if requested by FINRA, to sign a lock-up, the form of which shall be
satisfactory to FINRA with respect to the CXN Shares. “Affiliate” means, with respect to any specified Person: (i) if such
Person is an individual, the spouse of that Person and, if deceased or disabled, his heirs, executors or legal representatives, if applicable,
or any trusts for the benefit of such individual or such individual’s spouse and/or lineal descendants, or (ii) otherwise, another
Person that directly, or indirectly through one or more intermediaries, controls, is controlled by or is under common control with, the
Person specified. As used in this definition, “control” shall mean the possession, directly or indirectly, of the power to
cause the direction of the management and policies of a Person, whether through the ownership of voting securities or by contract or other
written instrument. “Person” shall mean an individual, entity, corporation, partnership, association, limited liability company,
limited liability partnership, joint-stock company, trust or unincorporated organization.

 

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Section 4.07 Brokers’
Fees. Each KPI Shareholder represents that he/she/it has no liability to pay any fees or commissions or other consideration to any
broker, finder or agent with respect to the transactions contemplated by this Agreement.

 

Section 4.08 Disclosure.
This Agreement, the schedules hereto and any certificate attached hereto or delivered in accordance with the terms hereof by or on behalf
of KPI or an KPI Shareholder in connection with the transactions contemplated by this Agreement, when taken together, do not contain any
untrue statement of a material fact or omit any material fact necessary in order to make the statements contained herein and/or therein
not misleading.

 

Section
4.9 Not an Underwriter. Each of the KPI Shareholders represents that he/she/it is not an underwriter of CXN Shares, nor is he/she/it
an affiliate of an underwriter of CXN Shares.

 

Section
4.10 No Advice from CXN. Each KPI Shareholder acknowledges that he/she/it has received, and fully and carefully reviewed and
understands, copies of CXN’s filings with the SEC periodically (the “SEC Filings”), either in hard copy or electronically
through the SEC’s EDGAR system at http://www.sec.gov. Each KPI Shareholder also acknowledges that he/she/it has had the opportunity
to review this Agreement, the exhibits hereto and the transactions contemplated by this Agreement with his/her/its own legal counsel and
investment and tax advisors. Except for any statements or representations of CXN made in this Agreement, each KPI Shareholder is relying
solely on such counsel and advisors and not on any statements or representations of CXN or any of its representatives or agents for legal,
tax or investment advice with respect to this investment, the transactions contemplated by this Agreement or the securities laws of any
jurisdiction. Each KPI Shareholder has consulted, to the extent deemed appropriate by him/her/it, with his/her/its own advisers as to
the financial, tax, legal and related matters concerning an investment in the CXN Shares and on that basis believes that his/her/its investment
in the CXN Shares is suitable and appropriate for him/her/it.

 

Section
4.11 Regulation S Exemption. Each KPI Shareholder understands that the CXN Shares are being offered and sold to him/her/it in
reliance on an exemption from the registration requirements of United States federal and state securities laws under Regulation S promulgated
under the Securities Act, as amended, and that CXN is relying upon the truth and accuracy of the representations, warranties, agreements,
acknowledgments and understandings of each KPI Shareholder set forth herein in order to determine the applicability of such exemptions
and the suitability of each KPI Shareholder to acquire CXN Shares.  In this regard, each KPI Shareholder represents, warrants
and agrees that:

 

(i) He/she/it
is not a U.S. Person or an affiliate (as defined in Rule 501(b) under the Securities Act) of CXN and he/she/it is not acquiring CXN Shares
for the account or benefit of a U.S. Person. A “U.S. Person” means any one of the following:

 

(A)
any natural person resident in the United States of America;

 

(B)
any partnership, limited liability company, corporation or other entity organized or incorporated under the laws of the United States
of America;

 

(C) any
estate of which any executor or administrator is a U.S. Person;

 

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(D) any
trust of which any trustee is a U.S. Person;

 

(E) any
agency or branch of a foreign entity located in the United States of America;

 

(F) any
non-discretionary account or similar account (other than an estate or trust) held by a dealer or other fiduciary for the benefit or account
of a U.S. Person;

 

(G) any
discretionary account or similar account (other than an estate or trust) held by a dealer or other fiduciary organized, incorporated or
(if an individual) resident in the United States of America; and

 

(H) any
partnership, company, corporation or other entity if:

 

(1) organized
or incorporated under the laws of any foreign jurisdiction; and

 

(2) formed
by a U.S. Person principally for the purpose of investing in securities not registered under the Securities Act, unless it is organized
or incorporated, and owned, by accredited investors (as defined in Rule 501(a) under the Securities Act) who are not natural persons,
estates or trusts.

 

(ii) At
the time of the origination of contact concerning this Agreement and the date of the execution and delivery of this Agreement, each KPI
Shareholder was outside of the United States.

 

(iii) He/she/it
will not, during the period commencing on the date of issuance of the CXN Shares and ending on the six-month anniversary of such date,
or such shorter period as may be permitted by Regulation S or other applicable securities law (the “Restricted Period”), offer,
sell, pledge or otherwise transfer CXN Shares in the United States, or to a U.S. Person for the account or for the benefit of a U.S. Person
or otherwise in a manner that is not in compliance with Regulation S.

 

(iv) Each
KPI Shareholder will, after expiration of the Restricted Period, offer, sell, pledge or otherwise transfer CXN Shares only pursuant to
registration under the Securities Act or an available exemption therefrom and in accordance with all applicable state and foreign securities
laws.

 

(v) He/she/it
was not in the United States engaged in, and prior to the expiration of the Restricted Period will not engage in, any short selling of
or any hedging transaction with respect to CXN Shares, including without limitation, any put, call or other option transaction, option
writing or equity swap.

 

(vi) Neither
the KPI Shareholder, nor any person acting on his/her/its behalf, has engaged, nor will engage, in any directed selling efforts to a U.S.
Person with respect to CXN Shares, and the KPI Shareholder, and any person acting on his/her/its behalf, have complied and will comply
with the “offering restrictions” requirements of Regulation S under the Securities Act.

 

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(vii) The
transactions contemplated by this Agreement have not been pre-arranged with a buyer located in the United States or with a U.S. Person,
and are not part of a plan or scheme to evade the registration requirements of the Securities Act.

 

(viii) Neither
the KPI Shareholder nor any person acting on his/her/its behalf, has undertaken or carried out any activity for the purpose of, or that
could reasonably be expected to have the effect of, conditioning the market in the United States, its territories or possessions, for
any of the CXN Shares. Each KPI Shareholder agrees not to cause any advertisement of CXN Shares to be published in any newspaper or periodical
or posted in any public place and not to issue any circular relating to CXN Shares, except such advertisements that include the statements
required by Regulation S under the Securities Act, and only offshore and not in the U.S. or its territories, and only in compliance with
any local applicable securities laws.

 

Section
4.12 No Advertisements. The KPI Shareholder is not purchasing CXN Shares as a result of or subsequent to any advertisement,
article, notice or other communication published in any newspaper, magazine or similar media or broadcast over television or radio or
via the Internet, or presented at any seminar or meeting, and he/she/it is not aware of any public advertisement or general solicitation
in respect of CXN or its securities.

 

Section
4.13 Legend. Each KPI Shareholder acknowledges and agrees that the CXN Shares shall bear a restrictive legend (the “Legend”),
as set forth above in Section 3.14, prohibiting the offer, sale, pledge or transfer of the securities, except (i) pursuant to an effective
registration statement filed under the Securities Act, (ii) in accordance with the applicable provisions of Regulation S, promulgated
under the Securities Act, (iii) pursuant to an exemption from registration provided by Rule 144 under the Securities Act (if available),
and (iv) pursuant to any other exemption from the registration requirements of the Securities Act or for estate planning purposes (subject
to any escrow restrictions).

 

Section
4.14 Economic Considerations. The KPI Shareholder is not relying on CXN or its affiliates or agents with respect to economic
considerations involved in this investment. Each KPI Shareholder has relied solely on his/her/its own advisors. 

 

Section
4.15 Compliance with Laws. Any resale of CXN Shares during the “distribution compliance period” as defined in Rule
902(f) to Regulation S shall only be made in compliance with exemptions from registration afforded by Regulation S. Further, any such
sale of CXN Shares in any jurisdiction outside of the United States will be made in compliance with the securities laws of such jurisdiction.
The KPI Shareholders will not offer to sell or sell CXN Shares in any jurisdiction unless they obtain all required consents, if any. Each
KPI Shareholder acknowledges that he/she/it is familiar with Rule 144 (“Rule 144”) under the Securities Act and has been advised
that Rule 144 permits resales only under certain circumstances. Each KPI Shareholder understands that to the extent that Rule 144 is not
available, he/she/it will be unable to sell any CXN Shares without either registration under the Securities Act or the existence of another
exemption from such registration requirement. 

 

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Section 4.16 Receipt
of Information. Each KPI Shareholder has received all documents, records, books and other information pertaining to his/her/its investment
in CXN that has been requested by him/her/it.

 

Section
4.17 Information Available. Each KPI Shareholder acknowledges he/she/it has availed himself/herself/itself of full access to
CXN’s public reports filed with the SEC, which reports can be retrieved from commercial document retrieval services and at the website
maintained by the SEC at http://www.sec.gov.

 

Section
4.18 No Reliance.  Other than as set forth herein, the KPI Shareholder is not relying upon any other information,
representation or warranty by CXN or any officer, director, stockholder, agent or representative of CXN in determining to invest in CXN
Shares.  Each KPI Shareholder has consulted, to the extent deemed appropriate by him/her/it, with his/her/its own advisers as
to the financial, tax, legal and related matters concerning an investment in CXN Shares and on that basis believes that the investment
in CXN Shares is suitable and appropriate for him/her/it.

 

Section 4.19 No Governmental
Review.  Each KPI Shareholder is aware that no federal or state agency has (i) made any finding or determination as to the
fairness of this investment, (ii) made any recommendation or endorsement of CXN Shares or CXN, or (iii) guaranteed or insured any investment
in CXN Shares or any investment made by CXN.

 

Section 4.20 Potential
Loss of Investment.  Each KPI Shareholder understands that an investment in CXN Shares is a speculative investment which
involves a high degree of risk and the potential loss of his/her/its entire investment. Each KPI Shareholder has considered carefully
and understands the risks associated with an investment in CXN Shares as set forth in CXN’s SEC Filings.

 

Section 4.21 Financial
Statements.

 

On or before the Closing Date, CXN shall have
been furnished with the following financial statements (“Financial Statements”):

 

Consolidated Balance Sheet as of September
30, 2020 and Unaudited Interim Condensed Consolidated Balance Sheet as of March 31, 2021

 

Consolidated Statement of Operations
and Comprehensive Loss from Inception through September 30, 2020 and Unaudited Interim Condensed Consolidated Statement of Operations
and Comprehensive Loss for the Six Months Ended March 31, 2021

 

Consolidated Statement of Changes in
Stockholders’ Equity from Inception through September 30, 2020 and Unaudited Interim Condensed Consolidated Statement of Changes
in Stockholders’ Equity for the Six Months Ended March 31, 2021

 

Consolidated Statement of Cash Flows
from Inception through September 30, 2020 and Unaudited Interim Condensed Consolidated Statement of Cash Flows for the Six Months Ended
March 31, 2021

 

Unaudited Pro Forma Condensed Combined
Financial Data

 

Unaudited Pro Forma Condensed Balance
Sheet as of March 30, 2021 and September 30, 2020

 

Unaudited Pro Forma Condensed Statements
of Operations for the Six Months Ended March 31, 2021 and from Inception through September 30, 2020

 

(b) Each set of Financial
Statements (including, in each case, any related notes thereto) was prepared in accordance with US GAAP (“GAAP”), applied
on a consistent basis throughout the periods involved (except as may be indicated in the notes thereto) and each fairly presents in all
material respects the financial position of KPI and its consolidated subsidiaries at the respective dates thereof and the results of its
operations and cash flows for the periods indicated, except that the unaudited interim financial statements were or are subject to normal
adjustments which were not or are not expected to have a Material Adverse Effect.

 

(c) As of the date of all
balance sheets included in each set of financial statements, except as and to the extent reflected or reserved against therein, KPI had
no liabilities or obligations (absolute or contingent) which should be reflected in the balance sheets or the notes thereto prepared in
accordance with GAAP, and all assets reflected therein are properly reported and present fairly in all material respects the value of
the assets of KPI, in accordance with GAAP.  All statements of operations, stockholders’ equity and cash flows included
in the KPI financial statements reflect fairly in all material respects the information required to be set forth therein by GAAP.

 

Section 4.22 Survival.
Each of the representations and warranties set forth in this Article IV shall be deemed represented and made by KPI and each KPI Shareholder
at the Closing as if made at such time.

 

    11

     

    

 

ARTICLE V

COVENANTS 

 

Section 5.01 Certain
Changes and Conduct of Business.

 

 a. From and after the
date of this Agreement and until the Closing Date, CXN and KPI shall conduct their businesses solely in the ordinary course consistent
with past practices and in a manner consistent with all representations, warranties or covenants contained herein, and without the prior
written consent of the other party, neither CXN nor KPI will, except as required or permitted pursuant to the terms hereof:

 

	 	i.	make any material change in the conduct of its businesses and/or operations or enter into any transaction other than in the ordinary course of business consistent with past practices;

 

 

	 	ii.	make any change in its Articles of Association or Memorandum of Association, issue any additional shares of capital stock or equity securities or grant any option, warrant or right to acquire any capital stock or equity securities or issue any security convertible into or exchangeable for its capital stock or alter in any material term of any of its outstanding securities or make any change in its outstanding shares of capital stock or its capitalization, whether by reason of a reclassification, recapitalization, stock split or combination, exchange or readjustment of shares, stock dividend or otherwise;

 

	 	iii.	 A.	incur, assume or guarantee any indebtedness for borrowed money, issue any notes, bonds, debentures or other corporate securities or grant any option, warrant or right to purchase any thereof, except pursuant to transactions in the ordinary course of business consistent with past practices; or
	 	 	 	 
	 	 	B.	issue any securities convertible or exchangeable for debt or equity securities;

 

	 	iv.	
    make any sale, assignment, transfer, abandonment
or other conveyance of any of its assets or any part thereof, except pursuant to transactions in the ordinary course of business consistent
with past practice; 

	 	 	 
	 	v.	subject any of its assets, or any part thereof, to any lien or suffer such to be imposed other than such liens as may arise in the ordinary course of business consistent with past practices by operation of law which will not have a material adverse effect on its business;

 

	 	vi.	acquire any assets, raw materials or properties, or enter into any other transaction, other than in the ordinary course of business consistent with past practices;

 

	 	vii.	enter into any new (or amend any existing) employee benefit plan, program or arrangement or any new (or amend any existing) employment, severance or consulting agreement, grant any general increase in the compensation of officers or employees (including any such increase pursuant to any bonus, pension, profit-sharing or other plan or commitment) or grant any increase in the compensation payable or to become payable to any employee, except in accordance with pre-existing contractual provisions or consistent with past practices;

 

	 	viii.	make or commit to make any material capital expenditures;

 

    12

     

    

 

	 	ix.	pay, loan or advance any amount to, or sell, transfer or lease any properties or assets to, or enter into any agreement or arrangement with, any of its affiliates;

 

	 	x.	guarantee any indebtedness for borrowed money or any other obligation of any other person;

 

	 	xi.	fail to keep in full force and effect insurance comparable in amount and scope to coverage maintained by it (or on behalf of it) on the date hereof;

 

	 	xii.	take any other action that would cause any of the representations and warranties made by it in this Agreement not to remain true and correct in all material respects;

 

	 	xiii.	make any material loan, advance or capital contribution to or investment in any person;

 

	 	xiv.	make any material change in any method of accounting or accounting principle, method, estimate or practice;

 

	 	xv.	settle, release or forgive any claim or litigation or waive any right; or

 

	 	xvi.	commit itself to do any of the foregoing.

 

Section 5.02 Access
to Properties and Records. KPI shall afford to CXN’s accountants, counsel and authorized representatives, and CXN shall afford
to KPI’s accountants, counsel and authorized representatives full access during normal business hours throughout the period prior
to the Closing Date (or the earlier termination of this Agreement) to all of such party’s properties, books, contracts, commitments
and records and, during such period, shall furnish promptly to the requesting party all other information concerning the other party’s
business, properties and personnel as the requesting party may reasonably request, provided that no investigation or receipt of information
pursuant to this Section 5.02 shall affect any representation or warranty of or the conditions to the obligations of any party.

 

Section 5.03 Negotiations.
From and after the date hereof until the earlier of the Closing or the termination of this Agreement, no party to this Agreement nor its
officers or directors (subject to such director’s fiduciary duties) nor anyone acting on behalf of any party or other persons shall, directly
or indirectly, encourage, solicit, engage in discussions or negotiations with or provide any information to, any person, firm or other
entity or group concerning any merger, sale of substantial assets, purchase or sale of shares of capital stock or similar transaction
involving any party. A party shall promptly communicate to any other party any inquiries or communications concerning any such transaction
which they may receive or of which they may become aware.

 

    13

     

    

 

Section 5.04 Consents
and Approvals. The parties shall:

 

	 	i.	use their reasonable commercial efforts to obtain all necessary consents, waivers, authorizations and approvals of all governmental and regulatory authorities, domestic and foreign, and of all other persons, firms or corporations required in connection with the execution, delivery and performance by them of this Agreement; and

 

	 	ii.	diligently assist and cooperate with each other party in preparing and filing all documents required to be submitted by a party to any governmental or regulatory authority, domestic or foreign, in connection with such transactions and in obtaining any governmental consents, waivers, authorizations or approvals which may be required to be obtained connection in with such transactions.

 

Section 5.05 Public
Announcement. Unless otherwise required by applicable law, the parties hereto shall consult with each other before issuing any press
release or otherwise making any public statements with respect to this Agreement and shall not issue any such press release or make any
such public statement prior to such consultation.

 

Section 5.06 Stock
Issuance. From and after the date of this Agreement until the Closing Date, neither CXN nor KPI shall issue any additional shares
of its capital stock.

 

ARTICLE VI

CONDITIONS TO OBLIGATIONS OF CXN

 

The obligations of CXN to
consummate the transactions contemplated by this Agreement are subject to the fulfillment, at or before the Closing Date, of the following
conditions, any one or more of which may be waived by CXN in its sole discretion:

 

Section 6.01 Representations
and Warranties of KPI and the KPI Shareholders. All representations and warranties made by KPI and the KPI Shareholders in this Agreement
shall be true and correct on and as of the Closing Date as if again made by them as of such date.

 

Section 6.02 Agreements
and Covenants. KPI and the KPI Shareholders shall have performed and complied in all material respects to all agreements and covenants
required by this Agreement to be performed or complied with by it on or prior to the Closing Date.

 

Section 6.03 Consents
and Approvals. Consents, waivers, authorizations and approvals of any governmental or regulatory authority, domestic or foreign, and
of any other person, firm or corporation, required in connection with the execution, delivery and performance of this Agreement shall
be in full force and effect on the Closing Date.

 

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Section 6.04 No
Violation of Orders. No preliminary or permanent injunction or other order issued by any court or governmental or regulatory authority,
domestic or foreign, nor any statute, rule, regulation, decree or executive order promulgated or enacted by any government or governmental
or regulatory authority, which declares this Agreement invalid in any respect or prevents the consummation of the transactions contemplated
hereby, or which materially and adversely affects the assets, properties, operations, prospects, net income or financial condition of
KPI shall be in effect; and no action or proceeding before any court or governmental or regulatory authority, domestic or foreign, shall
have been instituted or threatened by any government or governmental or regulatory authority, domestic or foreign, or by any other person
or entity which seeks to prevent or delay the consummation of the transactions contemplated by this Agreement or which challenges the
validity or enforceability of this Agreement.

 

Section 6.05 Due Diligence
Review. CXN shall have completed its due diligence review of KPI and shall be reasonably satisfied with the results of such review.

 

Section 6.06 Completion
of Audits. Audits of KPI and the subsidiaries for the periods required for the filing of the Form 8-K shall have been completed.

 

ARTICLE VII

CONDITIONS TO OBLIGATIONS OF KPI

AND THE KPI SHAREHOLDERS 

 

The obligations of KPI and
the KPI Shareholders to consummate the transactions contemplated by this Agreement are subject to the fulfillment, at or before the Closing
Date, of the following conditions, any one or more of which may be waived by KPI in its sole discretion:

 

Section 7.01 Representations
and Warranties of CXN. All representations and warranties made by CXN in this Agreement shall be true and correct on and as of the
Closing Date as if again made by CXN as of such date.

 

Section 7.02 Agreements
and Covenants. CXN shall have performed and complied in all material respects to all agreements and covenants required by this Agreement
to be performed or complied with by it on or prior to the Closing Date.

 

Section 7.03 Consents
and Approvals. Consents, waivers, authorizations and approvals of any governmental or regulatory authority, domestic or foreign, and
of any other person, firm or corporation, required in connection with the execution, delivery and performance of this Agreement shall
be in full force and effect on the Closing Date.

 

Section 7.04 No
Violation of Orders. No preliminary or permanent injunction or other order issued by any court or governmental or regulatory authority,
domestic or foreign, nor any statute, rule, regulation, decree or executive order promulgated or enacted by any government or governmental
or regulatory authority, which declares this Agreement invalid in any respect or prevents the consummation of the transactions contemplated
hereby, or which materially and adversely affects the assets, properties, operations, prospects, net income or financial condition of
CXN shall be in effect; and no action or proceeding before any court or governmental or regulatory authority, domestic or foreign, shall
have been instituted or threatened by any government or governmental or regulatory authority, domestic or foreign, or by any other person,
or entity which seeks to prevent or delay the consummation of the transactions contemplated by this Agreement or which challenges the
validity or enforceability of this Agreement.

 

Section 7.05 Resignation
of Sole Officer and Director. The sole officer and director of CXN shall have submitted his resignation as an officer and as a director
of CXN, effective immediately after the Closing. It is understood that the vacancy on the Board of Directors created by said resignation
shall be filled by the person or persons nominated by the KPI Shareholders.

 

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Section 7.06 Cancellation
of Shares of Common Stock. Mr. Wenhai Xia shall have entered into the Share Cancellation Agreement attached hereto as Exhibit 1, so that
those shares are returned to the status of authorized, and unissued shares that can be issued to the KPI Shareholders in connection with
the Closing of this transaction.

 

ARTICLE VIII 

TERMINATION AND ABANDONMENT

 

Section 8.01 Methods
of Termination. This Agreement may be terminated, and the transactions contemplated hereby may be abandoned at any time before the
Closing:

 

By the mutual written consent of CXN, KPI and
each of the KPI Shareholders.

 

b. By
the KPI Shareholders, upon a material breach of any representation, warranty, covenant or agreement on the part of CXN set forth in this
Agreement;

 

c. By
CXN upon a material breach of any representation, warranty, covenant or agreement on the part of KPI or any of the KPI Shareholders set
forth in this Agreement;

 

d. By
any of KPI, all of the KPI Shareholders or CXN, if the Closing shall not have been consummated before sixty (60) days after the date hereof.

 

e. By
any of KPI, all of the KPI Shareholders or CXN if a court of competent jurisdiction or governmental, regulatory or administrative agency
or commission shall have issued an order, decree or ruling or taken any other action (which order, decree or ruling the parties hereto
shall use its best efforts to lift), which permanently restrains, enjoins or otherwise prohibits the transactions contemplated by this
Agreement.

 

Section 8.02 Procedure
Upon Termination. In the event of termination and abandonment of this Agreement by any party pursuant to Section 8.01, written notice
thereof shall forthwith be given to the other parties and this Agreement shall terminate and the transactions contemplated hereby shall
be abandoned, without further action. If this Agreement is terminated as provided herein, no party to this Agreement shall have any liability
or further obligation to any other party to this Agreement; provided, however, that no termination of this Agreement pursuant to this
Article VIII shall relieve any party of liability for a breach of any provision of this Agreement occurring before such termination.

 

ARTICLE IX

MISCELLANEOUS

 

Section 9.01 Governing
Law. This Agreement shall be governed by and construed in all respects by the internal laws of Nevada (except for the proper application
of the United States federal securities laws), without giving effect to any choice of law or conflict of law provision or rule (whether
of the British Virgin Islands, the Hong Kong Special Administrative Region, the Peoples Republic of China or any other jurisdictions)
that would cause the application of the laws of any jurisdictions other than Nevada.

 

    16

     

    

 

Section 9.02 Notices,
Etc. Unless otherwise specified within a provision of this Agreement all notices, requests, demands and other communications hereunder
shall be in writing and shall be deemed to have been duly given (i) upon receipt, when delivered personally; (ii) upon receipt, when
sent by email or facsimile (provided confirmation of transmission is electronically or mechanically generated and kept on file by the
sending party); (iii) ten business days after deposit with the Post Office in Nevada, the British Virgin Islands, Hong Kong or the
PRC, as applicable, when sent by registered or certified mail; or (iv) one business day after deposit with a recognized overnight
delivery service, in each case properly addressed to the party to receive the same. The addresses, email addresses and facsimile numbers
for such communications shall be:

 

If to CXN:

 

CX NETWORK Group, Inc.

Room 1205, 1A Building, Shenzhen Software Industry Base,

Xuefu Rd, Nanshan District, Shenzhen, PRC

Attention: Wenhai Xia

Email: 631615221@qq.com

 

With a copy to:

 

Schlueter &
Associates, P.C.

5290 DTC Parkway,
Suite 150

Greenwood Village,
Colorado 80111

Attention: Henry
F. Schlueter, Esq.

Email:
hfs@schlueterintl.com

Facsimile: +1-303-648-5663

 

If to KPI: 

 

Unit 2702, Building T1, The Han’s Plaza,

No. 2 Ronghua South Road,

Beijing Economic and Technological Zone,

Beijing, PRC

Attention: Chengyuan Li

Email: 309949193@qq.com

 

If to Kunpeng Tech Limited:  

 

Unit 2702, Building T1, The Han’s Plaza,

No. 2 Ronghua South Road,

Beijing Economic and Technological Zone,

Beijing, PRC

Attention: Zhizhong Wang

Email: 529650662@qq.com

 

    17

     

    

 

If to Kunpeng TJ Limited:  

 

Unit 2702, Building T1, The Han’s Plaza,

No. 2 Ronghua South Road,

Beijing Economic and Technological Zone,

Beijing, PRC

Attention: Chengyuan Li

Email: 309949193@qq.com

 

Ms. Pui Chun Wong: 

 

FLT B8 28/F CAUSEWAY CTR

28 HARBOUR RD WAN CHAI

HONG KONG, PRC

Email: matpcw@yahoo.com.hk

 

Mr. Sheng Liao:

 

1028 BLUEBONNET DR

SUNNYVALE CA 94086-6758

Email: liaosheng@hotmail.com

 

Mr. Wenqiang Wang:

 

FLT A 6/F ST FRANCIS MANSION

4-6 ST FRANCIS ST

WANCHAI, HONG KONG, PRC

Email: wangwenqiang@gmail.com

 

With a copy to:

 

Schlueter &
Associates, P.C.

5290 DTC Parkway,
Suite 150

Greenwood Village,
Colorado 80111

Attention: Henry
F. Schlueter, Esq.

Email:
hfs@schlueterintl.com

Facsimile: +1-303-648-5663

 

Section 9.03 Amendments
and Waivers. No amendment of any provision of this Agreement shall be valid unless the same shall be in writing and signed by all
of the parties hereto. No waiver by any party of any default, misrepresentation or breach of warranty or covenant hereunder, whether intentional
or not, shall be deemed to extend to any prior or subsequent default, misrepresentation or breach of warranty or covenant hereunder or
affect in any way any rights arising by virtue of any prior or subsequent such occurrence.

 

Section 9.04 Expenses.
Each party shall be responsible for their own costs and expenses.

 

    18

     

    

 

Section 9.05 Section
and Other Headings. The section and other headings contained in this Agreement are for reference purposes only and shall not in any
way affect the meaning or interpretation of this Agreement.

 

Section 9.06 Counterparts.
This Agreement may be executed simultaneously in any number of counterparts, each of which shall be deemed an original, but all of which
together shall constitute one and the same instrument.

 

Section 9.07 Severability.
If any provision of this Agreement is held by final judgment of a court of competent jurisdiction to be invalid, illegal or unenforceable,
such invalid, illegal or unenforceable provision shall be severed from the remainder of this Agreement, and the remainder of this Agreement
shall be enforced. In addition, the invalid, illegal or unenforceable provision shall be deemed to be automatically modified, and, as
so modified, to be included in this Agreement, such modification being made to the minimum extent necessary to render the provision valid,
legal and enforceable. Notwithstanding the foregoing, however, if the severed or modified provision concerns all or a portion of the essential
consideration to be delivered under this Agreement by one party to the other, the remaining provisions of this Agreement shall also be
modified to the extent necessary to equitably adjust the parties’ respective rights and obligations hereunder.

 

Section 9.08 Telecopy
Execution and Delivery. A facsimile, telecopy, email or other reproduction of this Agreement may be executed by one or more parties
hereto, and an executed copy of this Agreement may be delivered by one or more parties hereto by facsimile transmission, by e-mail delivery
of a “.pdf” format data file or similar electronic transmission device pursuant to which the signature of or on behalf of
such party can be seen, and such execution and delivery shall be considered valid, binding and effective for all purposes. At the request
of any party hereto, all parties hereto agree to execute an original of this Agreement as well as any facsimile, telecopy or other reproduction
hereof.

 

Section 9.09 Entire
Agreement. This Agreement constitutes the entire agreement between the parties with respect to the subject matter hereof and thereof.
All proposals, negotiations and representations (if any) made prior, and with reference to the subject matter of this Agreement, are merged
herein. This Agreement has been negotiated by the parties and their respective counsel and will be interpreted fairly in accordance with
its terms and without any strict construction in favor of or against any party. Neither CXN nor KPI nor any KPI Shareholder shall be bound
by any oral agreement or representation, irrespective of when made.

 

Section 9.10 Survival
of Representations, Warranties and Covenants. All of the representations and warranties made herein shall survive the execution and
delivery of this Agreement, any investigation by or on behalf of KPI or any KPI Shareholder or acceptance of CXN Shares and payment therefor
and shall survive until such time as CXN Shares have been sold or redeemed in full in cash. All covenants and indemnities made herein
shall survive in perpetuity, unless otherwise provided in this Agreement.

 

Section 9.11 Remedies
Cumulative. No failure or delay on the part of CXN, KPI or any KPI Shareholder in exercising any right, power or remedy hereunder
shall operate as a waiver thereof, nor shall any single or partial exercise of any such right, power or remedy preclude any other or further
exercise thereof or the exercise of any other right, power or remedy. The remedies provided for herein are cumulative and are not exclusive
of any remedies that may be available to CXN, KPI or any KPI Shareholder at law, in equity or otherwise.

 

    19

     

    

 

Section 9.12 Further
Assurances. Each of the parties shall execute such documents and perform such further acts (including, without limitation, obtaining
any consents, exemptions, authorizations or other actions by, or giving any notices to, or making any filings with, any governmental authority)
as may be reasonably required or desirable to carry out or to perform the provisions of this Agreement.

 

Section 9.13 Disputes.
Any dispute, controversy, difference or claim arising out of or relating to this Agreement, including the existence, validity, interpretation,
performance, breach or termination thereof or any dispute regarding non-contractual obligations arising out of or relating to this Agreement
shall be referred to and finally resolved by arbitration administered by the Beijing Arbitration Commission (“BAC”) under
the UNCITRAL Arbitration Rules in force when the notice of arbitration is submitted, as modified by the BAK Procedures for Administration
of International Arbitration. The BAC shall administer any arbitration, which shall also be the appointing authority. The place of arbitration
shall be in Beijing at the BAC, and the law of this arbitration clause shall be the law of the Peoples Republic of China. All matters
relating to the Agreement shall be determined under Nevada law as provided above in Section 9.01. The number of arbitrators shall be one,
and the arbitration proceedings shall be conducted in the English language. The parties to this Agreement expressly agree that the arbitrator
shall award costs and attorneys’ fees in connection with any such arbitration proceeding in accordance with the provisions of the
UNCITRAL Arbitration Rules or as the arbitrator shall determine in his or her sole and absolute discretion.

 

Section 9.14 Disclosure
and Waiver of Conflicts. The parties acknowledge and agree that: (i) representatives of Schlueter & Associates, P.C., the attorneys
that prepared this Agreement (the “Attorney”), have acted as legal counsel to KPI and the KPI Shareholders, (ii) CXN acknowledges
it has been advised by the Attorney that CXN should have its own legal counsel to advise it with respect to this Agreement and the transactions
that are contemplated by this Agreement, (iii) CXN has decided even after being advised by the Attorney that it should each have its own
separate legal counsel to not seek its own separate legal counsel, and (iv) CXN understands that the Attorney is not representing CXN.

 

Section 9.15 Public
Announcements. CXN shall promptly, but no later than four (4) business days following the effective date of this Agreement, issue
a press release disclosing the transactions contemplated hereby. CXN shall also file with the SEC a Form 8-K describing the material terms
of the transactions contemplated hereby as soon as practicable following the Closing Date but in no event more than four (4) business
days following the Closing Date. Prior to the Closing Date, CXN, KPI and the KPI Shareholders shall consult with each other in issuing
the Form 8-K, the press release and any other press releases or otherwise making public statements or filings and other communications
with the SEC or any regulatory agency or stock market or trading facility with respect to the transactions contemplated hereby and no
party shall issue any such press release or otherwise make any such public statement, filings or other communications without the prior
written consent of the other parties, which consent shall not be unreasonably withheld or delayed, except that no prior consent shall
be required if such disclosure is required by law, in which case the disclosing party shall provide the other party with prior notice
of no less than three (3) calendar days, of such public statement, filing or other communication and shall incorporate into such public
statement, filing or other communication the reasonable comments of the other party.

 

    20

     

    

 

IN WITNESS WHEREOF, the parties have duly executed
this Agreement as of the day and year first above written. 

 

	CX NETWORK GROUP, INC.	 
	 	 
	By:  	/s/ Wenhai Xia	 
	 	Wenhai Xia, President	 
	 	 
	KUN PENG INTERNATIONAL HOLDINGS LIMITED 	 
	 	 
	By: 	/s/ Chengyuan Li	 
	 	Chengyuan Li, Director	 
	 	 
		 
	 	 
	KUN PENG INTERNATIONAL HOLDINGS LIMITED SHAREHOLDERS: 	 
	 	 
	KUNPENG TECH LIMITED	 
	 	 
	By: 	/s/ Zhizong Wang	 
	 	Zhizhong Wang, Director	 
	 	 
	KUNPENG TJ LIMITED	 
	 	 
	By: 	/s/ Chengyuan Li	 
	 	Chengyuan Li, Director 	 
	 	 
	PUI CHUN WONG	 
	 	 
	/s/ Pui Chun Wong	 
	 	 

 

     

     

    

 

	SHENG LIAO	 
	 	 
	/s/ Sheng Liao	 
	 	 
	WENQIANG WANG	 
	 	 
	/s/ Wenqiang WangExhibit 10.3

 

No.:                       

 

 

 

 

 

Labor Contract

 

 

 

 

Party A: King Eagle (Tianjin) Technology
Co., Ltd 

Party B: Mao Xiangyi 

 

 

 

 

 

     

     

    

 

Instructions to the Use of Labor Contract

 

1. Party A and Party B shall enter into this Contract
according to law and in principles of legality, fairness, equality, free will, negotiated consensus and good faith. Party A and Party
B shall earnestly read this Contract upon its signing. This Contract becomes legally effective once legally signed and the Parties must
strictly perform it.

 

2. Blanks marked off in this Contract shall be
filled out after being negotiated and determined by the Parties, or the specific policy provisions shall be notified to Party B. Please
mark “/” on blanks not required for filling.

 

3. This Contract must be stamped with Party A’s
official seal, and signed or sealed by Party A’s legal representative or entrusted agent; Party B shall sign her name on this Contract
in person before this Contract takes effect. Party B’s name and date of birth shall be consistent with those specified on her effective
identity certificate.

 

4. This Contract shall be filled out by sign pen
or pen with clear handwriting and brief and accurate text. This Contract shall not be altered once signed.

 

5. Terms that shall be added after the Parties
reach negotiated consensus shall be specified in “Article 62 Other Matters Agreed upon by the Parties”. If the space of this
Contract is not enough to include other contents agreed by the Parties, extra paper can be attached.

 

6. “Serious violation of Party A’s
rules and regulations or labor disciplines” involved herein may be recognized in accordance with the relevant national regulations
and Party A’s internal rules and regulations.

 

7. “Not competent for the job” mentioned
herein refers to Party B’s failure to perform her job responsibilities, meet Party A’s work requirements, and complete the
work tasks as scheduled and with required quality and quantity in accordance with agreements reached in this Contract and the relevant
appendixes hereto.

 

8. This Contract is made in triplicate with Party
A and Party B holding two copies and one copy respectively. The copy handed over to Party B shall not be kept by Party A on Party B’s
behalf.

 

9. This Contract does not apply to part-time employment.

 

    Page 2 of 15

     

    

 

Full name of the Employer (hereinafter referred
to as Party A): King Eagle (Tianjin) Technology Co., Ltd

 

Legal representative or entrusted agent: Li
Yanlu 

 

Party A’s address: Room 231, 2F &
Room 335, 3F of No. 2 Complex Building, No. 2, First Street, Airport International Logistics Zone, China (Tianjin) Pilot Free Trade Zone
(Airport Economic Zone)

 

Party B’s name (hereinafter referred to
as Party B): Mao Xiangyi 

 

Resident ID card number: 230803196509160342

 

Name of ID card issuing authority: Xiangfang
Public Security Bureau 

 

Mailing address: Room 102, Unit 1, Building
C, No. 12, Ganshui Road, Xiangfang District, Harbin 

 

Contact number: 18576613376 

 

To make clear of the Parties’ labor relationship
and their respective rights and obligations, the Parties hereby agree unanimously to sign this labor contract and enter into the following
terms through consultation on the basis of equality in accordance with Labor Law of the People’s Republic of China, Labor
Contract Law of the People’s Republic of China, Regulation on the Labor Contract Law of the People’s Republic of China
as well as other relevant laws, regulations and rules, and rules and regulations legally formulated by Party A:

 

I. Type and Term of Contract

 

Article 1 The following type 1 is
adopted as the form of this Contract.

 

1. Fixed-term labor contract:

 

The contract term lasts for 3 years, i.e. from
November 13, 2020 to November 12, 2023.

 

The probation period lasts for 3 months,
i.e. from date of November 13, 2020  to date of February 2, 2021 .

 

2. Non-fixed-term labor contract:

 

The contract starts from the date of___/___  
and ends when the conditions for termination agreed in Article 24 of this Contract appear.

 

The probation period lasts for 3 months, i.e.
from date of ___/___ to date of ___/___.

 

3. Labor contract with term determined by completion
of certain work task:

 

The contract starts from the date of ___/___
and is terminated on the next day after the work tasks of ___/___ is completed and all the relevant technical data is fully archived.
The symbol for the completion of the task is ___/___.

 

    Page 3 of 15

     

    

 

II. Work Contents and Workplace

 

Article 2 In accordance with Party A’s
work needs, Party B agrees to engage in the post of general manager (type of work or post). During the effective term of this Contract,
Party B agrees that Party A may adjust her operating post, ranking or remuneration treatment according to operation needs. If Party A
adjusts Party B’s operating post, it shall give full consideration to Party B’s professionalism and specialty. Party B is
willing to accept Party A’s arrangement, and the Parties will sign a written contract on such arrangement, and deem it as an appendix
to this Contract.

 

Article 3 Party B shall complete the stipulated
work quantities or work task as scheduled, reach the stipulated standards, and obey Party A’s leadership and management in accordance
with Party A’s requirements.

 

Article 4 Party B agrees to work at a workplace
arranged by Party A, i.e. Beijing, and further agrees that Party A may change Party B’s workplace based on operation demands.

 

If Party A arranges Party B to leave the workplace
and carry out short-term communication, training or work support with the duration in 6 months due to work demands, it will not be deemed
as change in workplace.

 

III. Working Time and Rest & Holidays

 

Article 5 Party A arranges Party B to implement
the following type 1 of working hour system:

 

1. Standard working hour system;

 

2. Flexible working hour system;

 

3. Comprehensively calculated working hour system.

 

Article 6 If Party A arranges Party B to
extend working hours or work on rest days and holidays due to actual work demands, Party A shall arrange Party B with equal-time compensatory
rest or pay overtime wage according to statutory provisions. Party B’s overtime shall obtain Party A’s written consent. Otherwise,
it will not be deemed as overtime.

 

Article 7 Party B enjoys each right to
rest and take holidays stipulated by national provisions and Party A’s relevant rules and regulations during the contract term,
including but not limited to statutory holidays, paid annual leave, home leave, marriage leave, funeral leave, sick leave, maternity leave,
nursing leave, family planning leave, etc.; during the period of rest or holidays, Party B’s wage remuneration shall be executed
in accordance with the relevant provisions of the State and Party A.

 

IV. Labor Protection and Working Conditions

 

Article 8 Party B must establish and complete
a labor safety and health system, strictly execute national labor safety and health procedures and standards, offer education on labor
safety and health to Party B, and prevent the occurrence of accidents during work and reduce occupational hazards.

 

Article 9 Party A shall provide Party B
with necessary working conditions and a safe, hygienic work environment, and grant labor protection articles and heat control products
according to the enterprise’s production and operation characteristics, and the relevant provisions.

 

    Page 4 of 15

     

    

 

Article 10 Party A shall provide Party
B with education and training regarding political thoughts, professional ethics, business skills, labor safety and health, and the relevant
rules and regulations in a well-planned way according to its own characteristics so as to improve Party B’s ideological consciousness,
professional ethics standards, and vocational skills. Party B shall earnestly participate in each kind of necessary education and training
organized by Party A.

 

V. Labor Remuneration

 

Article 11 Party B’s wage standard
is determined using the following method 1. This wage standard is only the wage standard upon signing of contract for the first
time. In case of subsequent adjustment if any, notice of adjustment of remuneration shall be followed. Party A promises that Party B’s
wage will not be lower than the local minimum wage standard.

 

1. Party B implements a monthly salary
system combining basic wage and merit pay. Party B’s wage standard is RMB 15,000 Yuan/month before tax, including basic
wage of RMB 9,000 Yuan and merit pay of RMB 6,000 Yuan as well as non-competition compensation of RMB ___/___ Yuan. If
probation period is agreed herein, Party B’s basic wage during the probation period is RMB 15,000 Yuan/month before
tax, including basic wage of RMB 9,000 Yuan and merit pay of RMB 6,000 Yuan.

 

2. Party A and Party B sign a supplementary remuneration
agreement to agree on Party B’s wage and welfare separately.

 

Article 12 Party A shall pay Party B’s
wage of previous month in monetary form before 11th day of each month (postponed to the 1st working day after
the holiday if any).

 

The wage paid by Party A to Party B is pre-tax
income, and the individual income tax shall be borne by Party B. Party B entrusts Party A to withhold and remit her individual income
tax.

 

The performance assessment measures involving
the verification and approval of merit pay income shall be formulated, issued and executed by Party A in accordance with the relevant
documents of King Eagle (China), and will be taken as an appendix to this Contract with same legal effect.

 

Article 13 During the performance period
of this Contract, Party A may agree to adjust Party B’s remuneration through negotiation in accordance with Party A’s operation
conditions and Party B’s work performance and pursuant to Party A’s remuneration system.

 

VI. Social Insurance and Welfare

 

Article 14 The Parties shall pay employee
endowment insurance, medical insurance, unemployment insurance, work-related injury insurance, maternity insurance as well as housing
fund fees according to the relevant existing provisions of the State and local government on social insurance. The part payable by Party
B will be withheld and remitted by Party A from Party B’s wage.

 

Article 15 If Party B falls sick or sustains
a non-work-related injury during the contract term, her sick wage and medical treatment will be executed according to the relevant existing
provisions of the State, local government and Party A.

 

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Article 16 If Party B sustains a work-related
injury or gives birth to a baby during work at Party A, her wage and medical insurance treatment shall be executed according to the relevant
existing provisions of the State and local government. Party B’s treatment during contract term and after retirement shall be executed
according to the relevant existing provisions of the State and local government.

 

Article 17 Various kinds of Party B’s
benefits during contract term including various days off, home leave, marriage leave and female employee’s maternity leave shall
be executed in accordance with the relevant existing provisions of the State, local government and Party A.

 

Article 18 Other welfare enjoyed by Party
B shall be executed in accordance with the relevant existing provisions of Party A.

 

VII. Rules, Regulations and Labor Disciplines

 

Article 19 Party A’s rules and regulations
(including but not limited to employee handbook, job responsibilities, training manual, training contract, confidentiality agreement,
performance assessment system, provisions on reward and punishment, etc.) are all important appendixes to this Contract and have same
legal effect as this Contract.

 

The Parties hereby confirm that the methods for
publicity of the aforesaid rules and regulations and their updated or revised editions include but are not limited to: Publicity through
the internal network work platform of King Eagle (China); publicity by sending of email; publicity by distribution of employee handbook;
publicity by posting paper document, etc. Party B shall finish the learning of Party A’s rules and regulations within 10 days since
the date when this Contract is signed.

 

Article 20 Party B shall abide by national
laws and regulations as well as Party A’s rules and regulations, establish good professional ethics and a sense of ownership, safeguard
Party A’s interests, strictly keep Party A’s business secrets, protect Party A’s property, and obey Party A’s
leadership, management and commanding.

 

Article 21 Party A has the right to give
Party B proper material and spiritual rewards and punishments (e.g. deduction of merit pay) based on Party B’s performance and conduct
and pursuant to national laws and regulations as well as rules and regulations legally formulated by Party A, and even rescind this Contract
in accordance with the relevant statutory provisions of the State.

 

Article 22 If Party B has any of the following
behaviors during the probation period agreed herein if any, it will be deemed that the recruitment conditions are not fulfilled:

 

1. Fail to provide Party A with her real information
faithfully;

 

2. Present unfavorable work performance during
probation period and receive punishments including and above notification by Party A for criticism;

 

3. Violate professional ethics to cause interest
loss to Party A;

 

4. Fail to meet the requirements for post qualification;

 

5. Failure to pass the probation period assessment
arranged by Party A.

 

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VIII. Change, Termination, Rescission and Renewal
of Labor Contract

 

Article 23 The relevant contents of this
Contract can be changed under any of the following circumstances:

 

1. Where laws, regulations and rules used as basis
upon conclusion of this Contract are changed, and the relevant contents of this Contract shall be changed;

 

2. Where objective conditions used as basis upon
conclusion of this Contract are significantly changed, including but not limited to relocation of enterprise, business transformation
and adjustment of organization structure, to make it impossible to perform this Contract, and the Parties reach negotiated consensus that
the relevant contents of this Contract shall be changed;

 

3. Where the contents of this Contract may be
changed if the Parties reach negotiated consensus.

 

Article 24 This Contract is terminated
under any of the following circumstances:

 

1. Where the term of labor contract expires;

 

2. Where Party B begins to enjoy basic endowment
insurance according to law;

 

3. Where Party B dies or is declared by people’s
court dead or missing;

 

4. Where Party A is declared for bankruptcy according
to law;

 

5. Where Party A has its business license revoked,
is ordered to shut down, is dissolved, or the Employer decides to dissolve ahead of time;

 

6. Where other circumstances for termination of
labor contract stipulated in laws and regulations occur.

 

Article 25 If Party B has any of circumstances
stipulated in Article 32 of this Contract upon expiry of term of labor contract, this Contract will be terminated until the relevant circumstance
disappears. If Party B has the circumstance in paragraph 1 of Article 32 of this Contract, the termination of Party B’s labor contract
shall be executed according to the relevant provisions of the State on work-related injury insurance.

 

Article 26 This Contract may be rescinded
in advance after the Parties reach negotiated consensus.

 

Article 27 Party B may rescind this Contract
after applying to Party A in writing thirty days in advance. If Party B applies to Party A three days in advance during the probation
period, this Contract may be rescinded.

 

Article 28 Party B may apply to Party A
for rescission of this Contract at any time under any of the following circumstances:

 

1. Where Party A fails to provide labor protection
and working conditions as agreed herein;

 

2. Where Party A fails to timely pay Party B labor
remuneration in full amount;

 

3. Where Party A fails to pay social insurance
expenses for Party B according to law;

 

4. Where Party A makes Party B conclude or change
the labor contract against Party B’s true intention by fraud, intimidation or by taking advantage of Party B’s precarious
situation to invalidate the labor contract;

 

5. Where Party A forces Party B to work by means
of violence, threat, custody or illegal restriction of personal freedom;

 

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Article 29 Party A may rescind this Contract
without giving any economic compensation if Party B has any of the following circumstances:

 

1. Where Party B is proved as not complying with
recruitment conditions during probation period (failure to pass induction training, monthly assessment and become a regular worker during
probation period will be deemed as not complying with recruitment conditions). The Parties agree that Party A is only required to explain
the reason to Party B without having to present definite evidence to Party A upon rescission or termination of this Contract due to this
paragraph. This reason does not require Party B’s recognition or acceptance either;

 

2. Where Party B seriously violates Party A’s
labor disciplines or its rules and regulations (the company’s rules and regulations will be publicized and notified by means of
induction instructions, Employee Handbook, the company’s internal network, mailbox and DingTalk). For the purpose of clarification,
the Parties recognize the following circumstances as serious violation of Party A’s rules and regulations:

 

(1) Where Party B fails to provide the relevant
information concerning her recruitment within 30 days, and consequently Party A is unable to handle recruitment and social insurance payment
formalities for Party B;

 

(2) Where the personal information provided by
Party B when applying for the job is false or forged, including but not limited to false or forged employment separation certificate,
identity certificate, household register, schooling record certificate and certificate of physical examination; where Party B has suffered
from mental disease, infectious disease or any other disease that seriously affects the work before applying the job, but failed to make
a statement on it when applying for the job; where Party B has received serious punishments like recording of a demerit, continuity to
employ on probation, or dismissal or had misdeeds like drug abuse before applying for the job, but failed to make a statement on it when
applying for the job; where Party B has sustained labor relationship, agreement on keeping of business secrets, or agreement on non-competition
with other employer(s), but failed to make a statement on it when applying for the job; where Party B has been held in custody or is pursued
for legal liability according to law before applying for the job, but failed to make a statement on it when applying for the job;

 

(3) Where Party B secretly registers intellectual
property rights on the works created due to work.

 

3. Where Party B is involved in gross neglect
of duty, or jobbery to cause a major damage to Party A;

 

4. Where Party B establishes a labor relationship
with any other employer at the same time, or take a part-time job in any other employer, and refuses to correct even after Party A points
it out;

 

5. Where Party B makes Party A conclude or change
the labor contract against Party A’s true intention by fraud, intimidation or by taking advantage of Party A’s precarious
situation to invalidate the labor contract;

 

    Page 8 of 15

     

    

 

6. Where Party B is pursued for criminal liability
according to law;

 

7. Where other circumstances stipulated in laws
and regulations arise.

 

Article 30 Party A may rescind this Contract
if Party B has any of the following circumstances after sending a written notice to Party B or paying one extra month’s wage to
Party B thirty days in advance:

 

1. Where Party B falls sick or sustains a non-work-related
injury, and following the medical period, is unable to engage in the original work or other work arranged by Party A separately;

 

2. Where Party B is not competent for the job,
and still remains so after training or adjustment of operating post;

 

3. Where the objective conditions used as basis
upon conclusion of labor contract are significantly changed to make it impossible to perform this labor contract, and the Parties cannot
reach a consensus on the change of labor contract through negotiation;

 

4. Where Party A’s objective conditions
including merger, separation and adjustment of operation method are significantly changed, or Party B’s production and operating
post disappear make it impossible to perform this labor contract, and the Parties cannot reach a consensus on change of this Contract.

 

Article 31 If Party A has any of the following
circumstances and has to downsize more than twenty employees, or the number of employees downsized takes up more than ten percent of the
total number of Party A’s employees although this number is less than twenty employees, Party A may rescind this Contract after
explaining the condition to all the employees, listening to the opinions from trade union or employees, and reporting to the superior
and local labor administrative department thirty days in advance:

 

1. Where Party A is reorganized in accordance
with the provisions of enterprise bankruptcy law;

 

2. Where serious difficulties occur to Party A’s
production and operation;

 

3. Where the enterprise transfers its line of
production, is involved in major technical reformation, or Party A’s operation mode is adjusted, and the personnel still have to
be downsized even after change of labor contract;

 

4. Where other objective conditions used as basis
upon conclusion of the labor contract are significantly changed to make it impossible to perform this Contract.

 

Article 32 If Party B has any of the following
circumstances, Party A shall not rescind this Contract in accordance with the provisions of Article 30 and Article 31 of this Contract:

 

1. Where Party B sustains a work-related injury
during work at Party A, and is confirmed as losing or partially losing her labor capacity;

 

2. Where Party B falls sick or sustains a non-work-related
injury, and is currently within the stipulated medical period;

 

3. Where a female employee is currently within
a period of pregnancy, confinement and lactation;

 

4. Where Party B has worked continuously for Party
A for fifteen years, and it is less than five years from statutory age for retirement;

 

5. Where other circumstances stipulated in laws
and regulations arise.

 

Article 33 Party B shall perform the following
obligations upon rescission or termination of this Contract:

 

1. Hand over work to a person designated by Party
A;

 

2. Completely return Party A’s office supplies,
documents, equipment and other tangible or intangible assets in Party B’s possession;

 

3. Completely hand over any carriers that carry
Party A’s important information to Party A;

 

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4. Assist Party A in clearing the creditor’s
rights and debts between the Parties;

 

5. Complete separation turnover procedures stipulated
by Party A and handle the relevant separation formalities;

 

6. Others: Handle other pending affairs.

 

Article 34 Party A shall issue a certificate
of termination or rescission of labor contract to Party B upon termination or rescission of labor contract, and handle formalities for
the transfer of archives and social insurance relationship for Party B within 15 days except the following circumstances:

 

1. Where Party B fails to finish the handling
of separation formalities in accordance with agreements reached in Article 33 as well as Party A’s provisions;

 

2. Where Party B causes economic loss to Party
A, and it hasn’t been handled yet;

 

3. Where Party B fails to pay liquidated damages
or compensation agreed in the labor contract;

 

4. Where Party B fails to complete the handover
of her business in hand and clear all the creditor’s rights and debts.

 

Article 35 Both Party A and Party B shall
negotiate with each other concerning renewal of the labor contract at least 30 days before the expiry of contract term. If the Parties
reach negotiated consensus, the labor contract can be renewed.

 

IX. Training

 

Article 36 Party A has the right to select
and assign Party B to participate in training during the contract term according to the needs for talent cultivation and career development,
and Party B agrees to accept such selection and assigning for training.

 

Article 37 If Party A pays training expenses
to Party B, the training expenses shall include:

 

1. Training-related expenses incurred during training
period, including application fee, tuition, data fee and certificate cost;

 

2. Relevant expenses incurred during training
period that coordinate the training, including travel expenses, transportation expenses, lump-sum living expenses and other subsidies;

 

    Page 10 of 15

     

    

 

3. Expenses incurred to visit, survey, reception,
touring, etc. taking place during Party B’s participation in training that is paid by Party A (if any);

 

4. Other expenses related to the training and
paid by Party A.

 

Article 38 If Party B participates in Party
A’s selection and assigning or organizing of training, Party B shall perform the following obligations:

 

1. Strictly abide by Party A’s rules and
regulations;

 

2. Strictly abide by training organization’s
training system and disciplines;

 

3. Strictly abide by Chinese laws and laws of
the country where the training is performed in case of overseas training, and timely return to homeland after end of the training;

 

4. Do not unilaterally terminate the training
in the midway;

 

5. Immediately report to Party A for duty after
end of the training, and handle the relevant formalities and accept Party A’s work arrangement in accordance with Party A’s
provisions;

 

Article 39 If Party B has any of the following
circumstances during training period, it shall compensate for all the training expenses paid by Party A for Party B:

 

1. Where Party B violates national laws and regulations,
and as a result, Party A rescinds the labor relationship with Party B;

 

2. Where Party B seriously violates Party A’s
rules, regulations and labor disciplines, and as a result, Party A rescinds the labor relationship with Party B;

 

3. Where Party B unilaterally terminates the training
in the midway.

 

Article 40 After end of training, Party
A and Party B agree to take the training expenses paid by Party A as standard to determine the service term (calculated since the date
when Party B reports to Party A for duty after end of training).

 

Article 41 If the service term exceeds
the contract term, the contract term will be automatically postponed until expiry of the service term. When Party B rescinds this Contract
before expiry of the service term agreed with Party A, Party A may calculate and collect liquidated damages in accordance with training
expenses actually paid. The amount of the liquidated damages shall not exceed the training expenses paid by Party A, and its standard
is determined as progressive reduction of 20% of total amount of training expenses actually paid for each service year.

 

Article 42 The specific procedures for
signing of the relevant training contract and letter of confirmation of training as well as training compensation settlement procedure
shall be executed in accordance with Party A’s relevant existing provisions.

 

X. Confidentiality and Non-competition

 

Article 43 Party B shall keep Party A’s
business secrets which refer to practical know-how and operation information not known to the public and capable of bringing economic
interests to Party A, including but not limited to the following contents:

 

1. Technical information: Scope of technical information
usually includes technical schemes, engineering designs, circuit designs, manufacturing methods, formulas, process flows, technical indexes,
computer software, databases, trial results, drawings, samples and prototypes, models and molds, operation manuals, technical documents,
business correspondences involving business secrets, etc.;

 

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2. Operation information: Scope of operation information
usually includes business strategies and business expansion plans, major investment and financing projects, capital operation and stock
market value management related programs, undisclosed financial resources, client lists, marketing plans, purchasing data, pricing policies,
labor remuneration, inbound channels, production and sales policies, objects in bidding, contents of bid documents, etc.;

 

3. Matters for which Party A shall perform confidentiality
obligations outside according to statutory provisions and agreements reached in the relevant agreements;

 

4. Other confidential matters belonging to Party
A according to law.

 

Article 44 Party B shall undertake the
following obligations for keeping of business secrets:

 

1. Do not spy on business secrets not needed for
one’s own work;

 

2. Do not disclose Party A’s business secrets
to any third person that does no undertake the relevant confidentiality obligations;

 

3. Do not allow (behaviors that dispose Party
A’s business secrets including lending, bestowal, leasing and transfer are all categorized as “allow) the using of or assist
any third person that does not undertake the relevant confidentiality obligations in using Party A’s business secrets;

 

4. Do not utilize Party A’s business secrets
learned to engage in operation, transaction and other relevant behaviors that damage the interests of Party A or its affiliates;

 

5. Take effective measures to prevent the further
expansion of disclosure of secrets if Party B finds out that the business secrets are leaked, or the business are leaked due to its mistake,
and timely report to Party A’s relevant department;

 

6. Undertake other due obligations for keeping
of business secrets in principle of good faith.

 

Article 45 The obligations of keeping business
secrets are not limited to the period when the Parties sustain their labor relationship. Party B shall prudently keep Party A’s
business secrets learned, unless otherwise:

 

1. Party A’s business secrets learned by
Party B are already known to the public;

 

2. Party A has clearly publicized that such business
secrets are already freed from confidentiality and such information no longer has the characteristic of business secret;

 

3. Party A’s legal personality is terminated
and there is no person or organization bearing Party A’s rights and obligations.

 

Article 46 If Party B concludes a confidentiality
and non-competition agreement with Party A, such agreement shall be taken as an appendix to this Contract and have same legal effect as
this Contract. Party B shall strictly abide by and perform the obligations agreed in the aforesaid agreement; if Party B violates such
agreements, she shall pay liquidated damages to Party A as agreed. If the liquidated damages are not enough to make up for Party A’s
loss, Party B shall assume compensatory responsibility.

 

    Page 12 of 15

     

    

 

XI. Responsibilities for Violation of Labor
Contract

 

Article 47 If Party A rescinds this Contract
in accordance with agreements reached in Article 29 of this Contract, Party B shall further assume compensatory responsibility for loss
therefore caused to Party A.

 

Article 48 If Party B participates in training
during work at Party A and rescinds the labor contract ahead of time before expiry of the agreed service term, or Party A rescinds the
labor contract in accordance with agreements reached in Article 29 of this Contract, Party A shall have the right to request Party B of
paying of training compensation in accordance with the standard agreed in Article 41 of this Contract.

 

Article 49 If Party B causes a certain
loss to Party A in violation of agreements reached in Article 44 of this Contract, she shall assume loss compensation responsibility.
The loss compensation shall be calculated using the following method:

 

1. The loss compensation amount is the sum of
actual economic loss caused to Party A due to Party B’s breaching behavior and expectation loss that can be proved with evidence;

 

2. If Party A’s loss is difficult to calculate
using the calculation method mentioned in paragraph 1 of this article, the loss compensation amount shall be a reasonable amount not lower
than all profits acquired by Party B due to its breaching behavior, or shall not be lower than the reasonable amount of royalties of Party
A’s business secrets;

 

3. Reasonable expenses paid by Party A due to
investigation and liability pursuit of Party B’s breaching behavior (including but not limited to counsel fee, notarization fee,
authority permit expense, etc.) as well as personnel recruitment fees, training fee and other relevant losses caused to Party A due to
rescission of the labor contract shall also be included in the loss compensation amount.

 

4. If Party B’s breaching behavior has simultaneously
infringed upon Party A’s right over business secrets, Party A may request Party B to assume liabilities for breach of contract according
to the requirements of this Contract, or request Party B to assume tort liability in accordance with the requirements of the relevant
national laws and regulations.

 

Article 50 If Party B violates the non-competition
contract signed by the Parties, she shall pay liquidated damages to Party A in accordance with agreements reached in the non-competition
contract. If the liquidated damages paid by Party B are not enough to compensate for Party A’s loss, Party B shall compensate for
the loss that goes beyond the liquidated damages.

 

Article 51 If Party A rescinds the labor
contract in accordance with agreements reached in Article 29, besides the compensation agreed in Article 47, and Party A is prosecuted
by Party B’s former employer, Party B shall compensate for all losses therefore caused to Party A.

 

Article 52 If Party B owes any expenses
to Party A (including but not limited to debt, compensation, liquidated damages, etc.), Party A shall have the right to deduct relevant
amount from Party B’s wage, bonus, allowance, subsidy, etc. (including but not limited to them). If the aforesaid amount is not
enough for deduction, Party A shall have the right to demand compensation for the residual part from Party B.

 

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Article 53 If either party’s other
breaching behaviors cause economic loss to the other party, it shall compensate for the other party’s economic loss in accordance
with statutory provisions.

 

XII. Handling of Labor Disputes

 

Article 54 If a labor dispute arises due
to performing of this Contract, the Parties may apply to Party A’s labor dispute mediation committee for mediation. If mediation
fails and a party requests arbitration, it shall apply to labor dispute arbitration committee for arbitration within the relevant limitation
of legal proceedings. The party may also directly apply to the labor dispute arbitration committee for arbitration. If the party does
not obey the ruling, it may also file a lawsuit to people’s court.

 

XIII. Other Contents Negotiated and Agreed
by the Parties

 

Article 55 All patents, copyrights and
other intellectual property rights generated by Party B based on her position behaviors or by mainly utilizing Party A’s material
technical conditions during contract term shall belong to Party A, and Party B is not entitled to conduct commercial development.

 

Article 56 Party B shall not be employed
by any other unit or individual by any means, directly or indirectly, full-time or part-time, to engage in any form of work including
but not limited to consulting or operating activities without Party A’s written consent after the Parties sign this Contract.

 

Article 57 Party B’s undertaking
of default compensatory liabilities due to its violation of confidentiality and non-competition clauses does not exempt its due confidentiality
and non-competition obligations agreed in this Contract though.

 

Article 58 The altered parts of this Contract,
forged signature and signature on others’ behalf without legal authorization are deemed as invalid.

 

Article 59 Appendixes to this Contract
have same effect as this Contract. However, if terms of this Contract have any conflict or inconsistency with the contents of appendixes
hereto, the latter shall prevail. Appendixes to this Contract include: Instructions to the use of this Contract, various special agreements
signed by the Parties during the term of this Contract, and Party A’s relevant rules and regulations.

 

Article 60 Party B hereby confirms that
her mailing address in this Contract is the address for service of documents and instruments related to the labor relation management.
If this address is changed, Party B shall inform Party A in writing within five working days since the date when the change is made.

 

Article 61 Party B hereby agrees that “emergency
contact” in this labor contract will serve as Party B’s trustee when Party B is under a status with contact obstacle (including
but not limited to circumstances like Party B’s hospitalization due to illness, loss of personal freedom, etc.). This trustee enjoys
the authority to reconcile, acquire on Party B’s behalf and sign for receipt of the relevant instruments. The following contact
number is determined as the contact’s effective telephone number. In case of any change in the following telephone number, Party
B shall inform Party A in writing since the date when the change is made.

 

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Emergency contact: ___/___ Contact number: ___/___

 

Mailing address: ___/___

 

Article 62 Other matters agreed upon by
the Parties:

 

Party B shall be responsible for the confidentiality
of Party B’s account in the office platform of King Eagle (Tianjin) as well as associated companies. Mails sent via this account
are Party B’s true intentions, and Party B agrees to carefully read the mails sent to this account.

 

Article 63 Matters not mentioned herein
shall be executed in accordance with the relevant existing rules and regulations of Party A. If the contract terms go against the relevant
existing provisions of the State and the government, the latter shall prevail.

 

Article 64 Party A has the right to decide
to submit the duplicate of this Contract to the relevant department or individual in the country where Party B’s training is conducted
via Chinese embassy and consulate as necessary.

 

Article 65 This Contract comes into force
since the date when the Parties sign it.

 

Article 66 This Contract is made in duplicate
with Party A and Party B holding one copy respectively and both copies having the same legal effect.

 

Party A (seal) Party B (signature): Mao Xiangyi
(signature and fingerprint)

 

Legal representative or entrusted agent (signature
and seal)

 

Signing date: 16/11/2020

 

 
   

 

 

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