Document:

Exhibit 10.1

 

SECURITIES PURCHASE AGREEMENT

证券购买协议

 

Dated as of July 21, 2015

于2015年7月21日

 

between

 

CHINA GINSENG HOLDINGS, INC.

 

中国人参控股有限公司

 

and

 

Danyang Youde Healthcare Consulting
Co., Ltd.

丹阳优德健康管理咨询有限公司

 

    	

    	 

    

 

Table of Contents 

 

	ARTICLE 1	PURCHASE AND SALE OF THE SERIES A CONVERTIBLE DEBENTURES	5
	 	 	 
	Section 1.1	Purchase Price and Closing	5
	 	 	 
	ARTICLE 2	REPRESENTATIONS AND WARRANTIES	6
	 	 	 
	Section 2.1	Representations and Warranties of the Company, non-PRC Subsidiaries and the PRC Subsidiary	6
	 	 	 
	Section 2.2	Representations and Warranties of the Purchasers	21
	 	 	 
	ARTICLE 3	COVENANTS	26
	 	 	 
	Section 3.1	Securities Compliance	26
	 	 	 
	Section 3.2	Confidential Information	26
	 	 	 
	Section 3.3	Compliance with Laws	27
	 	 	 
	Section 3.4	Keeping of Records and Books of Account	27
	 	 	 
	Section 3.5	Reporting Status	27
	 	 	 
	Section 3.6	Disclosure of Transaction	27
	 	 	 
	Section 3.7	Disclosure of Material Information	28
	 	 	 
	Section 3.8	Pledge of Securities	28
	 	 	 
	Section 3.9	Sarbanes-Oxley Act	28
	 	 	 
	Section 3.10	No Integrated Offerings	28
	 	 	 
	Section 3.11	No Manipulation of Price	29
	 	 	 
	ARTICLE 4	CONDITIONS	29
	 	 	 
	Section 4.1	Conditions Precedent to the Obligation of the Company to Sell the DEBENTURES	29
	 	 	 
	Section 4.2	Conditions Precedent to the Obligation of the Purchasers to Purchase the DEBENTURES	30
	 	 	 
	ARTICLE 5	STOCK CERTIFICATE LEGEND	32
	 	 	 
	Section 5.1	Legend	32

 

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	ARTICLE 6	INDEMNIFICATION	34
	 	 	 
	Section 6.1	General Indemnity	34
	 	 	 
	Section 6.2	Indemnification Procedure	35
	 	 	 
	ARTICLE 7	MISCELLANEOUS	36
	 	 	 
	Section 7.1	Fees and Expenses	36
	 	 	 
	Section 7.2	Specific Enforcement, Consent to Jurisdiction	36
	 	 	 
	Section 7.3	Entire Agreement; Amendment	37
	 	 	 
	Section 7.4	Notices	38
	 	 	 
	Section 7.5	Waivers	39
	 	 	 
	Section 7.6	Headings	39
	 	 	 
	Section 7.7	Successors and Assigns	39
	 	 	 
	Section 7.8	No Third Party Beneficiaries	40
	 	 	 
	Section 7.9	Governing Law	40
	 	 	 
	Section 7.10	Survival	40
	 	 	 
	Section 7.11	Counterparts	40
	 	 	 
	Section 7.12	Publicity	40
	 	 	 
	Section 7.13	Severability	41
	 	 	 
	Section 7.14	Further Assurances	41
	 	 	 
	Section 7.15	Currency	41
	 	 	 
	Section 7.16	Termination	41
	 	 	 
	Section 7.17	Language	42

 

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SECURITIES PURCHASE AGREEMENT

证券购买协议

 

This SECURITIES
PURCHASE AGREEMENT (the “Agreement”) is dated as of July 21, 2015 by and among China Ginseng Holdings, Inc.,
a Nevada corporation, (the “Company”) and Danyang Youde Healthcare Consulting Co., Ltd. (the “Purchaser”).

本证券购买协议(“本协议”或“协议”)于2015年7月21日,由中国人参控股有限公司(内华达州注册公司,“公司”)和丹阳优德健康管理咨询有限公司(“购买人”)双方合意签订。

 

RECITALS

前言

WHEREAS, the Company
and the Purchaser are executing and delivering this Agreement in accordance with and in reliance upon the exemption from securities
registration afforded by Section 4(2) of the Securities Act and/or Regulation S (“Regulation S”) as promulgated
under the Securities Act; 

鉴于,根据美国证监会在修订的1933年证券法(“证券法”)的基础上制定的规则S,和/或证券法条文4(2)下的豁免规定,公司和购买人在此签署和交换本协议。

 

WHEREAS, the Purchaser is
desiring to purchase Series A Convertible Debentures from the Company for an aggregate price of one million and six hundred thousand
U.S. dollars ($1,600,000) which are convertible into four million shares (4,000,000) of common stock of the Company, par value
$0.001 per share (the “Common Stock” and the “Conversion Share(s)”) at price of $0.40 per share to the
Purchaser;

鉴于,公司在此要向购买人出售A类可转换债券,金额总数为一百六十万美元,
可转换为四百万公司普通股,(“普通股”和“转换股”),每股转股价格0.40美元。

 

NOW, THEREFORE, IN CONSIDERATION
of the mutual covenants contained in this Agreement, and for other good and valuable consideration, the receipt and adequacy of
which are hereby acknowledged, the Company and the Purchaser hereby agree as follows:

鉴于此,公司和购买人认同双方经仔细考虑和双方合意,在此就以下内容表示同意:

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ARTICLE I

第一条

Purchase and Sale of the Series A
Convertible Debentures

A类可转债券的购买和销售

 

Section 1.1Purchase
Price and Closing.

第1.1节
购买价格和交割。

 

(a) Subject to
the terms and conditions hereof, the Company agrees to issue and sell to the Purchaser and, in consideration of and in
express reliance upon the representations, warranties, covenants, terms and conditions of this Agreement, the Purchaser
agrees to purchase Series A Convertible Debentures for an aggregate price of $1,600,000 (the “Offering Amount” or
the “Purchase Price”), convertible into 4,000,000 shares of Common Stock at a conversion price of $0.40 per share
(the
“Debenture(s)”).

在以下条款和前提下,公司同意向购买人发行并出售;根据本协议的说明、保证、约定和条款规定,购买人同意购买金额为一百六十万美元(“购买价格”或“融资金额”)的A类可转股的债券(“债券”),
可转换为四百万股公司普通股,转换价格为四十美分每股。

 

(b) Subject
to all conditions to closing being satisfied or waived, the closing of the purchase and
sale of the Debentures shall take place at the primary offices of China Ginseng Holdings, Inc. (the
“Closing”) by the date of the occurrence of completion and receipt by the Company of the Offering Amount
(the “Closing Date”). 

在交割的条件被满足或豁免的前提下,债券的购买和出售在公司收到购买价格的支付款后交割(“交割日”),地点在中国人参有限公司的主营业办公室(“交割”)。

 

(c) Subject to
the terms and conditions of this Agreement, at the Closing the Company shall deliver or cause to
be delivered to the Purchaser (i) the Series A Convertible Debentures, and (ii) any other documents required to be
delivered pursuant to this Agreement. At the time of the Closing, the Purchaser shall have delivered its Purchase Price by
wire transfer pursuant to the wire information contained in this Agreement. 

根据本协议的规定,在交割时公司应向购买人送达或使他人向购买人送达
(i) A类可转股的债券合同, (ii)
其他任何根据本条款应送达的文件。在交割时,购买人应根据交本协议的汇款信息向公司汇入其购买资金。。

 

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ARTICLE II

 

Representations and Warranties

保证和承诺

 

Section 2.1Representations
and Warranties of the Company, its Subsidiaries. The Company hereby represents and warrants to the Purchaser on behalf of itself,
its Subsidiaries (as hereinafter defined), as of the date hereof (except as set forth on the Schedule of Exceptions attached hereto
with each numbered Schedule corresponding to the section number herein), as follows:

公司和其子公司的陈述和保证。公司在此代表其本身以及其子公司,就以下事项(但与本小段标号相对应的披露中的事项除外)作出陈述和保证:

 

(a) Organization,
Good Standing and Power. The Company, each of its Subsidiaries is a corporation or other entity duly incorporated or otherwise
organized, validly existing and in good standing under the laws of its jurisdiction of incorporation or organization (as applicable)
and respectively, has the requisite corporate power to own, lease and operate its properties and assets and to conduct its business
as it is now being conducted. Except as set forth on Schedule 2.1(a), the Company each of its Subsidiaries is duly qualified
to do business and is in good standing in every jurisdiction in which the nature of the business conducted or property owned by
it makes such qualification necessary except for any jurisdiction(s) (alone or in the aggregate) in which the failure to be so
qualified will not have a Material Adverse Effect (as defined in Section 2.1(g) hereof).

组织、合法持续性和权力。公司以及其每一个子公司都是在其管辖区内依法成立的,有效存续的经济实体,各自都有必需的公司权力来持有、出租和操作其财产和资产,并进行合法的商业运作。除非披露表2.1(a)有不同的规定,公司以及其每一个子公司在其每个有商业行为和资产的管辖区内有合法资格进行经营并有良好的经营持续性,除了一些管辖,如果公司不能在这些区域内有合法资格经营也不会对公司的产生重大不良影响。

 

(b) Corporate
Power; Authority and Enforcement. The Company has the requisite corporate power and authority to enter into and perform its
obligations under this Agreement, and to issue and sell the Debentures in accordance with the terms hereof. The execution,
delivery and performance of this Agreement by the Company and the consummation by it of the transactions contemplated hereby and
thereby have been duly and validly authorized by all necessary corporate action, and no further consent or authorization of the
Company or its Board of Directors or stockholders is required. This Agreement constitutes, or shall constitute when executed and
delivered, a valid and binding obligation of the Company enforceable against the Company in accordance with its terms, except as
such enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium, liquidation, conservatorship,
receivership or similar laws relating to, or affecting generally the enforcement of, creditor’s rights and remedies or by
other equitable principles of general application.

公司权力;授权和执行。公司有必须的公司权力和授权来签订和履行本协议下的义务。公司有必须的权力和授权按照本协议的规定来发行和出售债券。公司对交易文件的签署、送达和履行和完成在此由所有必要的公司行为合法有效授权,不需要再由公司或董事会或股东会进一步的同意或授权。每一个交易文件在签署和送达时包括且应包括对于公司有效和有约束力的执行义务,除非适用的破产、解散、重组、延期偿付、清算、委托管理或其他有关的法律或其他衡平法原则会限制债权人的权利和补救。

 

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(c) Capitalization.
The authorized capital stock of the Company and the shares thereof currently issued and outstanding as of March
31, 2015 is set forth in the Company’s Form 10-Q Periodic Report for the periods ended March 31, 2015 (the “Form 10-Q”)
and, except as set forth in the on Schedule 2.1(c) hereto,
is the authorized and issued and outstanding capital stock of the Company as at the date hereof.
All of the issued outstanding shares of the Common Stock have been duly and validly authorized.

股本。在公司2015年3月31日财政季度报表10Q中披露的公司授权的股本和目前发行的流通的股票,除本协议批露表2.1(c)之外,都已合法授权和发行。所有发行的流通的普通股都已获合法有效授权。除非交易文件或披露表2.1(c)有其他规定:

 

(i) no shares
of Common Stock are entitled to preemptive, conversion or other rights and there are no outstanding options, warrants, scrip, rights
to subscribe to, call or commitments of any character whatsoever relating to, or securities or rights convertible into, any shares
of capital stock of the Company;

不存在有优先配股权、转换权或其他权利的普通股;不存在流通的期权、认购权、承诺购买权、或转换成公司股本的任何股份的其他权利。

 

(ii) there are
no contracts, commitments, understandings, or arrangements by which the Company is or may become bound to issue additional shares
of capital stock of the Company or options, securities or rights convertible into shares of capital stock of the Company;

不存在公司为一方当事人或受其约束的合同、承诺、备忘录或安排,公司需要因此而发行额外股本股份或发行期权、证券或转换股而获得公司的股本股份。

 

(iii) the Company
is not a party to any agreement granting registration or anti-dilution rights to any person with respect to any of its equity or
debt securities;

公司没有在任何协议中同意对任何股权证券或债权证券给予登记注册权和反稀释权。

 

(iv) the Company
is not a party to, and it has no knowledge of, any agreement restricting the voting or transfer of any shares of the capital stock
of the Company.

公司没有在任何协议中同意或承诺对公司股本的任何股份的投票权和股份转让进行限制。

 

The offer and sale of all capital stock,
convertible securities, rights, warrants, or options of the Company issued prior to the Closing complied with all applicable Federal
and state securities laws, except where non-compliance would not have a Material Adverse Effect.
The Company has furnished or made available to the Purchaser true and correct copies of the Company’s Articles of Incorporation,
as amended and in effect on the date hereof (the “Articles”), and the Company’s Bylaws, as amended and
in effect on the date hereof (the “Bylaws”). Except as restricted under applicable federal, state, local or
foreign laws and regulations, the Articles, this Agreement, or as set forth on Schedule 2.1 (c), no written or oral contract,
instrument, agreement, commitment, obligation, plan or arrangement of the Company shall limit the payment of dividends on the Company’s
Preferred Shares, or its Common Stock.

公司在本次交易交割结算前发行的所有股本股票、可转证券、权益、期权的买卖都符合适用的联邦和州证券法的规定,除非这些违反不会对公司有重大不利影响。公司向购买人提供了真实的公司成立协议副本(“公司成立协议”)和公司章程副本(“公司章程”)。除了适用的联邦、州、当地、国外法律和规则,公司成立协议,本交易文件以及披露表2.1(c)中的限制外,不存在任何书面或口头的合同、工具、协议、承诺、义务、计划或安排限制公司就其发行的普通股或优先股分配股息。

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(d) Issuance
of Debentures and Conversion Shares. The Debentures to be issued at the Closing have been duly authorized by all necessary
corporate action and the Conversion Shares, when paid for or issued in accordance with the terms hereof, shall be validly issued
and outstanding, fully paid and non-assessable.

债券和可转普通股的发行。本交易结算时应发行的债券和之后转换的普通股已经必要的公司行为授权。可转的普通股在支付和发行时应符合本交易文件的要求,经必要的公司行为授权,有效发行和流通。

 

(e) Subsidiaries.
Schedule 2.1(e) hereto sets forth each Subsidiary of the Company, showing the jurisdiction of its incorporation or organization
and showing the percentage of ownership of each Subsidiary. There are no outstanding preemptive, conversion or other rights, options,
warrants or agreements granted or issued by or binding upon any Subsidiary for the purchase or acquisition of any shares of capital
stock of any Subsidiary or any other securities convertible into, exchangeable for or evidencing the rights to subscribe for any
shares of such capital stock. Except as disclosed in the Form 10-Q, neither the Company nor
any Subsidiary is subject to any obligation (contingent or otherwise) to repurchase or otherwise acquire or retire any shares of
the capital stock of any Subsidiary or any convertible securities, rights, warrants or options of the type described in the preceding
sentence. Neither the Company nor any Subsidiary is party to, nor has any knowledge of, any agreement restricting the voting or
transfer of any shares of the capital stock of any Subsidiary. For the purposes of this Agreement, “Subsidiary”
shall mean any corporation or other entity of which at least a majority of the securities or other ownership interests having ordinary
voting power (absolutely or contingently) for the election of directors or other persons performing similar functions are at the
time owned directly or indirectly by the Company and/or any of its other Subsidiaries. All of the outstanding shares of capital
stock of each Subsidiary has been duly authorized and validly issued, and are fully paid and non-assessable.

子公司。披露表2.1(e)列明了公司的每一个子公司,说明每个子公司的公司注册地以及对每个子公司的持股比例。除非季度报表10Q作不同披露,任何子公司不存在因购买或收购其股本股份而发行或授权的流通的优先配股权、转换权或其他权利、期权、认购权或协议;或任何可以转换/购买/交换其股本股份的证券或权益。公司和其子公司不存在任何义务来回购或收购或撤回任何子公司的股本股份也不存在任何可以转换/购买/交换其股本股份的证券或权益。出于本协议的目的,“子公司”应指公司和/或其他子公司直接或间接持有该公司或企业实体多数投票权股份来选举公司董事或类似于公司董事的其他公司成员的实体。每个子公司的流通股本股份已有效授权和发行,并已支付全部对价且不得加追缴。

 

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(f) Commission
Documents, Financial Statements. The Company has filed all reports, schedules, forms, statements and other documents required
to be filed by it with the Commission pursuant to the reporting requirements of the Securities Exchange Act of 1934, as amended
(the “Exchange Act”), including the Form 10-Q and other material filed pursuant
to Section 13(a) or 15(d) of the Exchange Act (all of the foregoing including filings incorporated by reference therein being referred
to herein as the “Commission Documents”). The Company has not provided to the Purchaser any material non-public
information or other information which, according to applicable law, rule or regulation, was required to have been disclosed publicly
by the Company but which has not been so disclosed, other than (i) with respect to the transactions contemplated by this Agreement,
or (ii) pursuant to a non-disclosure or confidentiality agreement signed by the Purchaser. At the time of the respective filings,
the Form 10-K’s and the Form 10-Q’s complied in all material respects with the requirements of the Exchange Act and
the rules and regulations of the Commission promulgated thereunder and other federal, state and local laws, rules and regulations
applicable to such documents. As of their respective filing dates, none of the Form 10-K’s or Form 10-Q’s contained
any untrue statement of a material fact; and none omitted to state a material fact required to be stated therein or necessary in
order to make the statements therein, in light of the circumstances under which they were made, not misleading. The financial statements
of the Company included in the Commission Documents comply as to form in all material respects with applicable accounting requirements
and the published rules and regulations of the Commission or other applicable rules and regulations with respect thereto. Such
financial statements have been prepared in accordance with United States generally accepted accounting principles (“GAAP”)
applied on a consistent basis during the periods involved (except (i) as may be otherwise indicated in such financial statements
or the notes thereto or (ii) in the case of unaudited interim statements, to the extent they may not include footnotes or may be
condensed or summary statements), and fairly present in all material respects the consolidated financial position of the Company
as of the dates thereof and the results of operations and cash flows for the periods then ended (subject, in the case of unaudited
statements, to normal year-end audit adjustments).

证监会文件、财务报表。根据修订后的1934年证券交易法(“交易法”)的要求,公司向证监会申报了所有的报告、批露表、表格、说明书和其他文件,包括根据交易法第13(a)
或15(d) 节申报的材料(所有上述申报材料在本协议中统称为“证监会文件”)。根据相关适用法的规定,公司没有向购买人批露任何应当首先向公众批露而未批露的内部信息,但不包括(i)
与本协议中的交易相关的信息,或(ii) 根据购买人签署的不公开或内部保密协议而批露的信息。在每一次申报时,表格10K和表格10Q都符合交易法的要求和证监会的规则以及其他联邦、州和当地的适用的法律、法规和规则。在每一次申报时,表格10K或表格10Q都没有对重大事实的不实陈述,也没有遗漏重大事实或必要的信息,进行误导。证监会文件中包含的公司财务报表都符合当关的会计规则要求,证监会的相关公告规则和其他适用的法规和规则。这些财务报表都符合美国一般会计准则的要求,并在一定时期内保持数据一致(除非(i)
财务报表或记录中作不同的说明, 或(ii)
在未经审计的内部财务报表的情况下,报表可能不包含脚注或进行简化或为概要性报表),并真实反映该季度内的公司合并财务情况,经营状况和该季度结束时的现金流(但在未审计的财务报表的情况下,应以正常年度结束时的调整数据为准)。

 

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(g) No
Material Adverse Effect. As at March 31, 2015 and as at the date of this Agreement, the Company,
and its Subsidiaries have not experienced or suffered any Material Adverse Effect. For the purposes of this Agreement, “Material
Adverse Effect” shall mean (i) any material adverse effect upon the assets, properties, financial condition, business or
prospects of the Company, and its Subsidiaries, when taken as a consolidated whole, and/or (ii) any condition, circumstance, or
situation that would prohibit or otherwise materially interfere with the ability of the Company to perform any of its material
covenants, agreements and obligations under this Agreement.

无重大负面影响。自从2015年3月31日至本协议签订之日,公司和子公司没有任何重大负面影响。出于本协议的目的,“重大负面影响”应指(i)任何公司以及在合并报表的情况下的子公司的经营、运作、财产或财务有任何重大负面影响的事件,和/或(ii)只要在任何条件、情况下会从任何重大方面阻止或重大干涉公司履行本协议下的任何重大承诺、协议和义务。

 

(h) No
Undisclosed Liabilities. Other than as disclosed in the Form 10-K or on Schedule 2.1(h)
to the knowledge of the Company, neither the Company, nor the Subsidiaries has any liabilities, obligations, claims or losses (whether
liquidated or unliquidated, secured or unsecured, absolute, accrued, contingent or otherwise) other than those incurred in the
ordinary course of the Company’s and the Subsidiaries’ respective businesses since March 31, 2015 and which, individually
or in the aggregate, do not or would not have a Material Adverse Effect.

无未披露的义务。除了披露表2.1(h)所列的事项外,公司和其子公司没有任何未披露的义务、责任、诉讼或损失(不论是可清算的或不可清算的,有担保的或未担保的,全部的或计息的;附随的或其他),但2015年3月31日后公司和子公司在日常经营中产生的义务、责任、诉讼或损失,如果对于公司或子公司无重大负面影响,不应计入未披露的义务之内。

 

(i) No
Undisclosed Events or Circumstances. To the Company’s knowledge, no event or circumstance has occurred or exists with
respect to the Company, the Subsidiaries or their respective businesses, properties, operations or financial condition, which,
under applicable law, rule or regulation, requires public disclosure or announcement by the Company but which has not been so
publicly announced or disclosed. 

无未披露事件或情况。在公司知道的范围内,不存在根据适用的法律、规则或法规,应进行公共披露或公告而未披露公告的关于公司、子公司、其经营、财产、运作或财务的事件和情况。

 

(j) Intentionally
Left Blank

有意留空

 

(k) Title
to Assets. Except where non-compliance would not have a Material Adverse Effect, each of the
Company and the Subsidiaries has good and marketable title to (i) all properties and assets purportedly owned or used by
them as reflected in the Financial Statements, (ii) all properties and assets necessary for the conduct of their business as currently
conducted, and (iii) all of the real and personal property reflected in the Financial Statements free and clear of any Lien. All
leases are valid and subsisting and in full force and effect. 

资产所有权。除非不会对公司造成重大不利影响,公司和每个子公司对以下资产有合法有市场价值的所有权(i)所有计入财务报表的其所有和使用的资产和财产,(ii)
目前经营所必需的资产和财产,以及
(iii) 所有没有担保质权的计入财务报表的不动产和个人财产。

    	10

    	 

    

(l) Actions
Pending. There is no action, suit, claim, investigation, arbitration, alternate dispute resolution proceeding or any other
proceeding pending or, to the knowledge of the Company, threatened against or involving the Company or
Subsidiary which questions the validity of this Agreement or the transactions contemplated hereby or thereby or any action taken
or to be taken pursuant hereto or thereto. Except where the same would not have a Material Adverse Effect, there is no action,
suit, claim, investigation, arbitration, alternate dispute resolution proceeding or any other proceeding pending or, to the knowledge
of the Company, threatened against or involving the Company or any Subsidiary involving any of their respective properties or
assets. To the knowledge of the Company, there are no outstanding orders, judgments, injunctions, awards or decrees of
any court, arbitrator or governmental or regulatory body against the Company, the Subsidiaries or any of their respective executive
officers or directors in their capacities as such.

未决诉讼。在公司知道的范围内,不存在任何未决的和任何在其他程序中诉讼、索赔、调查、仲裁、争议,针对或涉及公司,任何子公司或任何中国经营实体,会
质疑本协议或本交易或相关交易行为的有效性;除非不会对公司公司造成重大不利影响,也没有任何涉及公司、子公司、中国经营实体的各自的财产或资产的相关程序。在公司知道的范围内,不存在任何待执行的判决、判令、禁止令、法庭决定、仲裁决定或政府或监管主体对公司、子公司或其各自的行政管理人员或董事的行政令。

 

(m) Compliance
with Law. The Company and the Subsidiaries have all material franchises, permits, licenses, consents and other governmental
or regulatory authorizations and approvals necessary for the conduct of their respective business as now being conducted by it
unless the failure to possess such franchises, permits, licenses, consents and other governmental or regulatory authorizations
and approvals, individually or in the aggregate, could not reasonably be expected to have a Material Adverse Effect.

符合法律规定。公司和子公司拥有其进行各自经营所必须的连锁权、许可权、证书、同意或其他政府或监管机构授权和同意,除非公司和子公司不可能合理预期到没有该连锁权、许可权、证书、同意或其他政府或监管机构授权和同意会对公司经营造成重大负面影响。

 

(n)No Violation.
The business of the Company and the Subsidiaries is not being conducted in violation of any Federal, state, local or foreign
governmental laws, or rules, regulations and ordinances of any of any governmental entity, except for possible violations which
singularly or in the aggregate could not reasonably be expected to have a Material Adverse Effect. The Company is not required
under Federal, state, local or foreign law, rule or regulation to obtain any consent, authorization or order of, or make any filing
or registration with, any court or governmental agency in order for it to execute, deliver or perform any of its obligations under
this Agreement, or issue and sell the Debentures in accordance with the terms hereof or thereof (other than (x) any consent, authorization
or order that has been obtained as of the date hereof, (y) any filing or registration that has been made as of the date hereof
or (z) any filings which may be required to be made by the Company with the Commission or state securities administrators subsequent
to the Closing.)

无违法行为。公司和子公司的经营没有违反任何联邦、州、当地或外国政府的法律或规则、法律、政府实体的政令,除非公司或子公司不能合理预期到该违反会造成重大负面影响。根据联邦、州、当地或外国法、法规或规则的规定,公司不需获得任何同意、授权或命令,或向任何法庭或政府机构申报或注册来执行、送达或履行本交易文件下的义务,(不包括
(x) 已获得的任何同意、授权、或命令,(y)
已进行的申报或登记,或(z) 在交割结算后必须向证监会或州证券管理机构进行的任何申报。)

 

    	11

    	 

    

 

(o) No
Conflicts. The execution, delivery and performance of this Agreement by the Company and the consummation by the Company of
the transactions contemplated herein and therein do not and will not (i) violate any provision of the Company’s Certificate
or Bylaws, (ii) conflict with, or constitute a default (or an event which with notice or lapse of time or both would become a default)
under, or give to others any rights of termination, amendment, acceleration or cancellation of, any agreement, mortgage, deed of
trust, indenture, note, bond, license, lease agreement, instrument or obligation to which the Company is a party or by which it
or its properties or assets are bound, (iii) create or impose a lien, mortgage, security interest, pledge, charge or encumbrance
(collectively, “Lien”) of any nature on any property of the Company under any agreement or any commitment to
which the Company is a party or by which the Company is bound or by which any of its respective properties or assets are bound,
or (iv) result in a violation of any federal, state, local or foreign statute, rule, regulation, order, judgment or decree (including
Federal and state securities laws and regulations) applicable to the Company or any of its subsidiaries or by which any property
or asset of the Company or any of its subsidiaries are bound or affected, provided, however, that, excluded from
the foregoing in all cases are such conflicts, defaults, terminations, amendments, accelerations, cancellations and violations
as would not, individually or in the aggregate, have a Material Adverse Effect.

无冲突。公司签署、送达和履行交易文件以及交易内容,没有也不会(i)违反公司的成立协议或章程的任何条款,(ii)
与公司为一方当事人或财产受约束的任何存在的和承诺的合同、保证、契约、债券、租赁合同、融资工具相冲突或会给予他人任何终止、修改、取消上述法律文件的权利,(iii)
在公司在一方当事人或财产受约束的任何协议或承诺中使公司本身或公司的任何财产上创造或附加留置权、抵押权、保证金权益、质押权、其他费用或财产负担(统称“留置权”),或(iv)
违反任何公司或其任何子公司适用的或其任何资产、不动产受影响或约束的联邦、州、当地或外国法律、规则、法规、法令、判决或命令(包括联邦和州的证券法规);但如果上述的冲突、终止、修改、取消、违反不会对公司产生重大负面影响,则不应包括在内。

 

(p) Taxes.
Each of the Company and the Subsidiaries, to the extent its applicable, has accurately prepared and filed all federal, state and
other tax returns required by law to be filed by it, has paid or made provisions for the payment of all taxes shown to be due
and all additional assessments, and adequate provisions have been and are reflected in the consolidated financial statements of
the Company for all current taxes and other charges to which the Company or the Subsidiaries, if any, is subject and which are
not currently due and payable. None of the federal income tax returns of the Company have been audited by the Internal Revenue
Service. The Company has no knowledge of any additional assessments, adjustments or contingent tax liability (whether federal,
state or foreign) of any nature whatsoever, whether pending or threatened against the Company or any subsidiary for any period,
nor of any basis for any such assessment, adjustment or contingency.

税收。公司和其每个子公司,在其适用范围内,已依法准确的准备和申报了所有联邦、州和其他税收收入,并支付了所有到期的税收项目,并且公司有义务缴纳但目前未到期的任何税收项目已经在合并财务报表中作出准确说明。
公司的联邦退税未经美国税务局审计。公司在其知道的范围内公司或其任何子公司没有任何额外的税收义务(不论是联邦、州或外国)。

 

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(q) Certain
Fees. Except as set forth on Schedule 2.1(q) hereto, no brokers fees, finders fees
or financial advisory fees or commissions will be payable by the Company with respect to the transactions contemplated by this
Agreement.

特定费用。除了批露表2.1(q)外所列的项目外,公司不需要根据本协议支付与本交易有关的中介费用、发现者费用或融资顾问费用或提成。

  

(r) Disclosure.
Except as set forth in Schedule 2.1(r), neither this Agreement nor the Schedules hereto nor any other documents, certificates
or instruments furnished to the Purchaser by or on behalf of the Company or the Subsidiaries in connection with the transactions
contemplated by this Agreement contain any untrue statement of a material fact or omit to state a material fact necessary in order
to make the statements made herein or therein, taken as a whole and in the light of the circumstances under which they were made
herein or therein, not false or misleading.

批露。除了批露表2.1(r)规定之外,公司或其子公司向购买人提供的与本交易有关的本协议、批露表、或其他文件、证明或工具证书没有关于重大事实的不实陈述或遗漏重大事实,没有错误或误导性陈述。

 

(s) Intellectual
Property. Each of the Company and the Subsidiaries owns or has the lawful right to use all patents, trademarks, domain names
(whether or not registered) and any patentable improvements or copyrightable derivative works thereof, websites and intellectual
property rights relating thereto, service marks, trade names, copyrights, licenses and authorizations, and all rights with respect
to the foregoing, which are necessary for the conduct of their respective business as now conducted without any conflict with the
rights of others, except where the failure to so own or possess would not have a Material Adverse Effect.

知识产权。公司和每个子公司对其各自进行经营所必需的全部专利、商标、知名品牌(不论是否注册)和任何其他可以申请专利的技术创新或衍生著作权、网站或其他知识产权、服务标识、商号、著作权、执照和授权拥有所有权或合法使用权,且不与他人的权利相冲突,但不包括那些即使不拥有也不会对公司产生重大不利影响的知识产权。

 

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(t) Books
and Record Internal Accounting Controls. Except as may have otherwise been disclosed in the Form 10-K’s or the Form 10-Qs,
the books and records of the Company and the Subsidiaries accurately reflect in all material respects the information relating
to the business of the Company and the Subsidiaries, the location and collection of their assets, and the nature of all transactions
giving rise to the obligations or accounts receivable of the Company, or the Subsidiaries. Except as disclosed on Schedule 2.1(t),
the Company and the Subsidiaries maintain a system of internal accounting controls sufficient, in the judgment of the Company,
to provide reasonable assurance that (i) transactions are executed in accordance with management’s general or specific authorizations,
(ii) transactions are recorded as necessary to permit preparation of financial statements in conformity with GAAP and to maintain
asset accountability, (iii) access to assets is permitted only in accordance with management’s general or specific authorization
and (iv) the recorded accountability for assets is compared with the existing assets at reasonable intervals and appropriate actions
are taken with respect to any differences.

会计账目内部控制。除了在表格10K或表格10Q中作不同批露外,公司和子公司的会计账目准确体现了与公司和子公司经营有关的重大信息、资产的地点和保管、所有使公司和子公司承担义务或产生可记账收入的交易。除了批露表2.1(t)中的规定外,公司和子公司保持一个内部会计控制系统,根据公司的判断,该系统充分的提供以下合理保证:(i)
交易经公司管理层一般或特别授权,(ii)
交易的记账符合一般会计准则的要求,且维持了资产的可记录性,(iii)
资产的使用只有经管理层的一般或特别授权,(iv)
对现有资产和可入账资产按合理的差距进行了比较且针对该差别采取了合理的行动。

 

(u) Material
Agreements. Any and all written or oral contracts, instruments, agreements, commitments, obligations, plans or arrangements,
the Company and the Subsidiaries is a party to, that a copy of which would be required to be filed with the Commission as an exhibit
to a registration statement on Form S-1 (collectively, the “Material Agreements”) if the Company or any subsidiary
were registering securities under the Securities Act has previously been publicly filed with the Commission in the Commission Documents.
Each of the Company and the Subsidiaries has in all material respects performed all the obligations required to be performed by
them to date under the foregoing agreements, have received no notice of default and are not in default under any Material Agreement
now in effect the result of which would cause a Material Adverse Effect.

重大合同。如果公司或其任何子公司之前曾根据证券法向证交会申报登记证券,在申报登记表S—1中附有或披露过公司或其子公司作为一方当事人的书面或口头的合同、融资工具、协议、承诺、义务、计划或安排(统称“重大合同”),那么,公司或其子公司已经履行了生效合同下的义务,没有接到违约的通知,也没有会导致对公司经营有重大不利影响的重大违约行为。

 

(v) Transactions
with Affiliates. Except as set forth in the Financial Statements or in the Commission Documents, there are no loans, leases,
agreements, contracts, royalty agreements, management contracts or arrangements or other continuing transactions between (a) the
Company or any Subsidiary on the one hand, and (b) on the other hand, any officer, employee, consultant or director of the Company,
or any of Subsidiaries, or any person owning any capital stock of the Company or any Subsidiary or any member of the immediate
family of such officer, employee, consultant, director or stockholder or any corporation or other entity controlled by such officer,
employee, consultant, director or stockholder, or a member of the immediate family of such officer, employee, consultant, director
or stockholder.

与附属人的交易。除了财务报表或证监会文件中说明的之外,没有存在于以下主体之间的贷款、租赁、协议、合同、使用协议、管理合同或安排或其他进行中的交易(a)一方主体为公司或其任一子公司,且(b)对方主体为公司或其任一子公司的管理人员、员工、顾问或董事,公司或其任一子公司的持股人,或者为他们的直接亲属成员,或者任何受管理人员、员工,顾问、董事或他们的直接亲属成员控制的公司或实体。

 

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(w) Securities
Act of 1933. Assuming the accuracy of the representations of the Purchaser set forth in Section 2.2 (d)-(h) hereof, the Company
has complied and will comply with all applicable federal and state securities laws in connection with the offer, issuance and sale
of the Debentures hereunder. Neither the Company nor anyone acting on its behalf, directly or indirectly, has or will sell, offer
to sell or solicit offers to buy any of the Debentures, to, or solicit offers with respect thereto from, or enter into any preliminary
conversations or negotiations relating thereto with, any person, or has taken or will take any action so as to bring the issuance
and sale of any of the Debentures in violation of the registration provisions of the Securities Act and applicable state securities
laws, and neither the Company nor any of its affiliates, nor any person acting on its or their behalf, has engaged in any form
of general solicitation or general advertising (within the meaning of Regulation D under the Securities Act) in connection with
the offer or sale of any of the Debentures.

1933年证券法。在购买人在披露表2.2
(d)-(h)中的陈述准确的前提下,公司进行的投资要约、发行和出售符合适用的联邦和州证券法的规定。公司和公司的任何代表人没有也不会违反证券法的登记条款的规定直接或间接向任何人出售、要约出售、要约劝诱购买债券,或与任何人签订任何预备协议或谈判、采取或会采取任何行动来发行和出售债券。公司和其任何附属人以及公司代表人,没有采取任何形式对债券的要约和出售进行一般劝诱或广告(在证券法规则在的定义下的一般劝诱或广告)。

 

(x) Governmental
Approvals. Except for the filing of any notice prior or subsequent to the Closing Date that may be required under applicable
state and/or Federal securities laws (which if required, shall be filed on a timely basis), no authorization, consent, approval,
license, exemption of, filing or registration with any court or governmental department, commission, board, bureau, agency or instrumentality,
domestic or foreign, is or will be necessary for, or in connection with, the execution or delivery of the Debentures, or for the
performance by the Company of its obligations under this Agreement.

官方批准。除了依据适用的州和/或联邦证券法的要求在交割结算日之前或之后申报任何通知(如果有此要求,则应该及时申报),外,公司没有义务就执行或送达债券或履行交易义务向国内或国外的任何法庭、政府部门、委员会、组委会、局、机关或其他机构获得授权、同意、批准、执照、豁免。

 

(y) Employees.
Except as disclosed on Schedule 2.1(y), neither the Company nor any subsidiary has any collective bargaining arrangements
covering any of its employees. Schedule 2.1(y) sets forth a list of the employment contracts, agreements regarding proprietary
information, non-competition agreements, non-solicitation agreements, confidentiality agreement, or any other similar contract
or restrictive covenant, relating to the right of any officer, employee or consultant to be employed or engaged by the Company.
Since March 31, 2015, no officer, consultant or key employee of the Company or any subsidiary whose termination, either individually
or in the aggregate, would have a Material Adverse Effect, has terminated or, to the knowledge of the Company, has any present
intention of terminating his or her employment or engagement with the Company or any subsidiary.

员工。除了披露表2.1(y)的披露之外,公司和其任一子公司没有适用任一员工的劳资双方谈判安排。披露表2.1(y)列明了关于管理人员、员工或公司雇佣或签约的顾问的权利的员工雇佣合同、有关财产权信息的协议、不竞争协议、不劝诱协议、保密协议或任何类似的合同或限制性契约。自从2015年3月31日以来,公司或子公司的任一离任会对公司产生重大不利影响的管理人员、顾问或重要员工没有解除或在公司的认知范围内没有意向解除与公司或子公司的雇佣或服务合同。

 

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(z) Absence
of Certain Developments. Except as disclosed on Schedule 2.1(z) or as disclosed in the
Form 10-Q, since March 31, 2015, neither the Company nor the Subsidiaries have:

未进行的发展事件。除了批露表2.1(z)中的披露或年度报表中的披露外,从2015年3月31日以来,公司和子公司未进行以下事项:

 

(i) issued
any stock, bonds or other corporate securities or any rights, options or warrants with respect thereto;

发行与本协议有关的任何证券、债券或其他公司证券或权益、期权或认购权;

 

(ii) borrowed
any amount or incurred or become subject to any liabilities (absolute or contingent) except current liabilities incurred in the
ordinary course of business which are comparable in nature and amount to the current liabilities incurred in the ordinary course
of business during the comparable portion of its prior fiscal year, as adjusted to reflect the current nature and volume of the
Company’s or such subsidiary’s business;

借款或者与相应的前一财政年度相比,在正常的公司或子公司经营范围之外增加了额外的义务(绝对义务或相对义务);

 

(iii) discharged
or satisfied any lien or encumbrance or paid any obligation or liability (absolute or contingent), other than current liabilities
paid in the ordinary course of business;

除了正常经营中当前债务外,免除或满足了任何留置权、阻碍或支付了任何义务或债务(绝对义务或相对义务);

 

(iv) declared
or made any payment or distribution of cash or other property to stockholders with respect to its stock, or purchased or redeemed,
or made any agreements so to purchase or redeem, any shares of its capital stock;

向股东就其持股宣布或支付或分配了现金股息,或购买或回购,或签订任何协议购买或回购任何股本股份;

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(v) sold,
assigned or transferred any other tangible assets, or canceled any debts or claims, except in the ordinary course of business;

除了正常经营之外,出售、分配、或转让任何其他有形资产,或取消任何债务或主张权;

 

(vi) sold,
assigned or transferred any patent rights, trademarks, trade names, copyrights, trade secrets or other intangible assets or intellectual
property rights, or disclosed any proprietary confidential information to any person except to customers in the ordinary course
of business or to the Purchaser or their representatives;

除了在正常经营中向顾客或向购买人及其代表之外,向任何第三人出售、分配或转让任何专利权、商标、知名品牌、著作权、商业秘密或其他无形资产或知识性财产权,或向其披露任何有财产价值的内部信息;

 

(vii) suffered
any substantial losses or waived any rights of material value, whether or not in the ordinary course of business, or suffered the
loss of any material amount of prospective business;

无论是否在正常经营中,
有任何实质性损失或豁免了任何有重大价值的任何权益或损失了任何重大的潜在生意;

 

(viii) made
any changes in employee compensation except in the ordinary course of business and consistent with past practices;

除了在正常经营和与过去做法一致的情况外,对员工薪酬作了任何变动;

 

(ix) made
capital expenditures or commitments therefor that aggregate in excess of $50,000;

资本支出或资本承担总额超过5,0000美元;

 

(x) entered
into any other transaction other than in the ordinary course of business, or entered into any other material transaction, whether
or not in the ordinary course of business;

签订任何正常经营之外的其他交易,或签订任何其他正常经营之内或之外的重大交易;

 

(xi) made
charitable contributions or pledges in excess of $10,000;

慈善捐款或赞助超过1,0000美元;

 

(xii) suffered
any material damage, destruction or casualty loss, whether or not covered by insurance;

产生任何重大损害、财物毁灭或人员损失,不论是否已承险;

 

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(xiii) experienced
any material problems with labor or management in connection with the terms and conditions of their employment;

与员工或管理层就他们的雇佣期限和条件产生任何重大问题;

 

(xiv) effected
any two or more events of the foregoing kind which in the aggregate would be material to the Company or its subsidiaries; or

进行了以上事件中的任何两个或两个以上,从而累计对公司或子公司产生重大影响;或

 

(xv) entered
into an agreement, written or otherwise, to take any of the foregoing actions.

签订了书面或其他形式的协议决定采取上述任一行动。

 

(aa) Public
Utility Holding Company Act; Investment Company Act and U.S. Real Property Holding Corporation Status. The Company is not a
“holding company” or a “public utility company” as such terms are defined in the Public Utility Holding
Company Act of 1935, as amended. The Company is not, and as a result of and immediately upon the Closing will not be, an “investment
company” or a company “controlled” by an “investment company,” within the meaning of the Investment
Company Act of 1940, as amended. The Company is not and has never been a U.S. real property holding corporation within the meaning
of Section 897 of the Internal Revenue Code of 1986, as amended.

公用事业控股公司法,投资公司法和美国不动产控制公司资质。公司不是修订的1935年公用事业控股公司法定义下的“控股公司”或“公用事业公司”。公司不是,在交割结算后也不会是经修订的1940年投资公司法下的“投资公司”或受“投资公司”“控制”的公司。公司也不是也从来不是经修订的1986年国内税收法897条下的美国不动产控股公司。

 

(bb) ERISA.
No liability to the Pension Benefit Guaranty Corporation has been incurred with respect to any Plan (as defined below) by the
Company or any of its Subsidiaries which is or would have a Material Adverse Effect. The execution
and delivery of this Agreement and the issuance and sale of the Debentures and Conversion Shares, the will not involve any transaction
which is subject to the prohibitions of Section 406 of ERISA or in connection with which a tax could be imposed pursuant to Section
4975 of the Internal Revenue Code of 1986, as amended, provided, that, if any of the Purchaser, or any person or entity that owns
a beneficial interest in any of the Purchaser, is an “employee pension benefit plan” (within the meaning of Section
3(2) of ERISA) with respect to which the Company is a “party in interest” (within the meaning of Section 3(14) of
ERISA), the requirements of Sections 407(d)(5) and 408(e) of ERISA, if applicable, are met. As used in this Section 2.1(bb), the
term “Plan” shall mean an “employee pension benefit plan” (as defined in Section 3 of ERISA) which
is or has been established or maintained, or to which contributions are or have been made, by the Company or any subsidiary or
by any trade or business, whether or not incorporated, which, together with the Company or any subsidiary, is under common control,
as described in Section 414(b) or (c) of the Code.

职工退体保障法。公司或其任何子公司没有任何薪酬计划(定义如下)会对公司和其子公司有重大不利影响的义务。本协议的签署和执行、债券和可转普通股的发行和出售不涉及任何职工退休保障法第406节禁止的交易或者根据修订的1986年国内税法法第406条要征税,但如果购买人根据职工退休保障法的规定,是公司“职工退休保障计划”的受益人,那么应符合适用的职工退休保障法第407(d)(5)和第408(e)的要求。在这节中,“计划”是指公司或子公司建立的“职工退休保障计划”。

 

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(cc) No
Integrated Offering. Neither the Company, nor any of its affiliates, nor any person acting on its or their behalf, has directly
or indirectly made any offers or sales of any security or solicited any offers to buy any security under circumstances that would
cause the offering of the Debentures pursuant to this Agreement to be integrated with prior offerings by the Company for purposes
of the Securities Act which would prevent the Company from selling the Debentures pursuant to Rule 506 under the Securities Act,
nor will the Company or any of its affiliates take any action or steps that would cause the offering of the Debentures to be integrated
with other offerings. The Company does not have any registration statement pending before the Commission or currently under the
Commission’s review and since March 31, 2015, other than as contemplated under this Agreement, the Company has not offered
or sold any of its equity securities or debt securities convertible into shares of Common Stock.

无合并要约。公司、或公司关联人、或任何代表公司的人没有直接或间接要约或出售任何证券或劝诱购买债券,会使这一融资成为证券法下的公司以前融资的一部分,从而根据证券法规则506公司会被禁止出售债券;
同时,公司或关联人也没有采取任何行动使本交易成为其他融资的一部分。公司目前没有任何在证监会审阅或未决的注册登记书,自从2014年12月31日以来,除了本交易外,公司没有出售任何股权性证券或可转为普通股的债权性证券。

 

(dd)Sarbanes-Oxley
Act. The Company is in compliance with the applicable provisions of the Sarbanes-Oxley Act of 2002 (the “Sarbanes-Oxley
Act”), and the rules and regulations promulgated thereunder, that are effective and for which compliance by the Company
is required as of the date hereof.

萨班斯-奥克斯利法案。公司与相适用的2002年萨班斯法-奥克斯利法案(“萨班斯—奥克斯利法案”),以及其他相适用的相关规则和规则相符合。

 

(ee)No Additional Agreements.
Neither the Company nor any of its affiliates has any agreement or understanding with any Purchaser with respect to the transactions
contemplated by this Agreement other than as specified in this Agreement.

无额外协议。除了本文特别列明的交易文件外,公司和其任一附属人与购买人没有其他额外协议。

 

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(ff)Foreign Corrupt Practices Act. Neither
the Company, the Subsidiaries, nor to the knowledge of the Company, the Subsidiaries any agent or other person acting on behalf
of the Company or the Subsidiaries, has, directly or indirectly, (i) used any funds, or will use any proceeds from the sale of
the Debentures, for unlawful contributions, gifts, entertainment or other unlawful expenses related to foreign or domestic political
activity, (ii) made any unlawful payment to foreign or domestic government officials or employees or to any foreign or domestic
political parties or campaigns from corporate funds, (iii) failed to disclose fully any contribution made by the Company, or any
subsidiary of the Company (or made by any Person acting on their behalf of which the Company is aware) or any members of their
respective management which is in violation of any applicable law, or (iv) has violated in any material respect any provision
of the Foreign Corrupt Practices Act of 1977, as amended, and the rules and regulations thereunder which was applicable to the
Company or any of its subsidiaries.

美国海外反贿赂法。公司、子公司、公司代理人、公司代表没有代表公司或子公司,直接或间接(i) 使用任何资金或使用从销售普通股中得到的收益,向海外或国内的政治活动非法捐款、送礼、提供娱乐或提供任何非法开销;(ii) 用公司资金向任何海外或国内的政府官员或职工或政治团体或政治竞选非法支付费用;(iii) 没有完全披露公司、子公司或公司管理层人员违法进行的捐助;或(iv)
重大违反了适用于公司或子公司的海外反贿赂法的规定。

 

(gg)PFIC. None
of the Company or any of its Subsidiaries is or intends to become a “passive foreign investment company” within the
meaning of Section 1297 of the U.S. Internal Revenue Code of 1986, as amended.

被动的外国投资公司。
公司或子公司不是也没有意愿成为经修订的美国国内税法法第1297条下的“被动外国投资公司”。

 

(hh)OFAC.
None of the Company or any of its Subsidiaries nor, to the knowledge of the Company, any director, officer, agent, employee,
Affiliate or Person acting on behalf of any of the Company or any of its Subsidiaries, is currently subject to any U.S.
sanctions administered by the Office of Foreign Assets Control of the U.S. Treasury Department (“OFAC”);
and the Company will not directly or indirectly use the proceeds of the sale of Debentures to any subsidiary of the Company,
joint venture partner or other Person or entity, towards any sales or operations in Cuba, Iran, Syria, Sudan, Myanmar or any
other country sanctioned by OFAC or for the purpose of financing the activities of any Person currently subject to any U.S.
sanctions administered by OFAC.

美国财务部外国资产控制办公室。公司、子公司、或在公司知悉的范围内,公司或子公司的任何董事、管理人员、代理人、员工、关联人或代表人目前没有被美国财务部外国资产控制办公室进行制裁,公司也不会直接或间接使用本交易的投资收益、或出借、提供任何该收益支持受OFAC制裁的古巴、伊朗、叙利亚、苏丹、缅甸或其他国家的任何出售或商业经营,或与受OFAC制裁的任何个体进行融资。

 

(ii)Money
Laundering Laws. The operations of each of the Company and the Subsidiaries have been conducted at all times in compliance
with the money laundering requirements of all applicable governmental authorities and any related or similar rules, regulations
or guidelines, issued, administered or enforced by any governmental authority (collectively, the “Money Laundering Laws”)
and no action, suit or proceeding by or before any court or governmental authority or any arbitrator involving any of the Company
or the Subsidiaries with respect to the Money Laundering Laws is pending or, to the best knowledge of the Company, threatened. 

反洗钱法。公司和子公司的运作符合适用的监管机构的反洗钱法、规则、规定、指导方针(统称“反洗钱法”)
并且在公司知悉的范围内,目前没有任何未决的涉及公司或子公司的与反洗钱有关的任何法院、监管机构或仲裁的司法行动、案件或程序或有此威胁。

 

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Section 2.2Representations
and Warranties of the Purchaser. The Purchaser hereby makes the following representations and warranties to the Company as
of the date hereof, with respect solely to itself and not with respect to any other Purchaser:

第2.2节
购买人的陈述和保证。购买人此就以下事项(但与本小段标号相对应的披露中的事项除外)作出陈述和保证:

 

(a) Organization
and Good Standing of the Purchaser. If the Purchaser is an entity, such Purchaser is a corporation, partnership or limited
liability company duly incorporated or organized, validly existing and in good standing under the laws of the jurisdiction of its
incorporation or organization.

组织、合法持续性。如果购买人是个企业实体,该购买人为合法成立的或组织的,有效存在的并运作的公司、合伙或有限责任公司。

 

(b) Authorization
and Power. The Purchaser has the requisite power and authority to enter into and perform this Agreement. The execution, delivery
and performance of this Agreement and the consummation by it of the transactions contemplated hereby and thereby have been duly
authorized by all necessary corporate, partnership or limited liability company action, and no further consent or authorization
of such Purchaser or its Board of Directors, stockholders, partners, members, or managers, as the case may be, is required. This
Agreement has been duly authorized, executed and delivered by such Purchaser and constitutes, or shall constitute when executed
and delivered, a valid and binding obligation of such Purchaser enforceable against such Purchaser in accordance with the terms
hereof.

授权和权力。购买人有必要的权力和授权来签订和履行本协议。公司签署、送达和履行本协议已经必要的公司、合伙或有限责任公司的公司行为合法授权,不需要额外的购买人或其董事会、股东、合伙人、成员或管理层同意或授权。购买人已合法授权、签署和送达本交易文件,并因此受其有效约束。

 

(c) No
Conflicts. The execution, delivery and performance of this Agreement and the consummation by such Purchaser of the transactions
contemplated hereby and thereby or relating hereto do not and will not (i) result in a violation of such Purchaser’s charter
documents, bylaws, operating agreement, partnership agreement or other organizational documents or (ii) conflict with, or constitute
a default (or an event which with notice or lapse of time or both would become a default) under, or give to others any rights
of termination, amendment, acceleration or cancellation of any agreement, indenture or instrument or obligation to which such
Purchaser is a party or by which its properties or assets are bound, or result in a violation of any law, rule, or regulation,
or any order, judgment or decree of any court or governmental agency applicable to such Purchaser or its properties (except for
such conflicts, defaults and violations as would not, individually or in the aggregate, have a material adverse effect on such
Purchaser). Such Purchaser is not required to obtain any consent, authorization or order of, or make any filing or registration
with, any court or governmental agency in order for it to execute, deliver or perform any of its obligations under this Agreement,
provided, that for purposes of the representation made in this sentence, such Purchaser is assuming and relying upon the accuracy
of the relevant representations and agreements of the Company herein.

无冲突。购买人签署、送达和履行交易文件以及交易内容,没有也不会(i)违反购买从的成立协议或章程的任何条款,(ii)在购买人在一方当事人或财产受约束的任何协议或承诺中使购买人本身或其任何财产上创造或附加留置权、抵押权
、保证金权益、质押权、其他费用或财产负担,或者使购买人违反任何适用购买人或其财产的任何法律、规则、规定、命令或判决或判令,但不会对购买人产生重大负面影响,则不应包括在内。购买人购买普通股,签署、送达和履行本协议和其他交易文件不需要额外授权,但是在本句陈述的范围内,购买人依赖于公司相关陈述的准确性作出以上陈述。

 

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(d) Status
of Purchaser. The Purchaser is a “non-US person” as defined in Regulation S. Such Purchaser is not required to
be registered as a broker-dealer under Section 15 of the Exchange Act and such Purchaser is not a broker-dealer, nor an affiliate
of a broker-dealer.

购买人资格。购买人应为规则S定义下的“非美国主体“。购买人不需要是证券交易法第15条下的注册的券商,并且也不是券商或券商的关联人。

 

(e) Acquisition
for Investment. The Purchaser is acquiring the Debentures, solely for its own account for the purpose of investment and not with
a view to or for sale in connection with a distribution. The Purchaser does not have a present intention to sell the Securities,
nor a present arrangement (whether or not legally binding) or intention to effect any distribution of the Securities to or through
any person or entity; provided, however, that by making the representations herein (except as provided below), such Purchaser
does not agree to hold the Securities for any minimum or other specific term and reserves the right to dispose of the Securities
at any time in accordance with Federal and state securities laws applicable to such disposition. The Purchaser acknowledges that
it is able to bear the financial risks associated with an investment in the Securities and that it has been given full access
to such records of the Company and the Subsidiaries and to the officers of the Company and the Subsidiaries and received such
information as it has deemed necessary or appropriate to conduct its due diligence investigation and has sufficient knowledge
and experience in investing in companies similar to the Company in terms of the Company’s stage of development so as to
be able to evaluate the risks and merits of its investment in the Company. The Purchaser further acknowledges that such Purchaser
understands the risks of investing in companies domiciled and/or which operate primarily in the People’s Republic of China
and that the purchase of the Securities involves substantial risks. 

投资目的。购买人购买债券仅出于自己的投资目的,不是为了相关的分销。购买人目前没有意愿或安排出售债券;但是,在作以下陈述时,购买人并未承诺在任何最短期限内不会根据相关联邦和州证券法的规定转让或处理债券。购买人承认其有能力承担购买证券的投资风险,公司、子公司、公司子公司管理人员给予了其进行必要和适当的尽职调查所必须的信息和文件,购买人有足够的投资知识和经验判断公司的发展情况,评估投资风险和回报。购买人进一步承诺其了解投资和购买主要营业地在中国的公司的股票的风险。

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(f)Reliance
on Exemptions. The Purchaser understands that the Debentures are being offered and sold to it in reliance upon specific exemptions
from the registration requirements of United States federal and state securities laws and that the Company is relying upon the
truth and accuracy of, and the Purchaser’s compliance with, the representations, warranties, agreements, acknowledgments
and understandings of the Purchaser set forth herein in order to determine the availability of such exemptions and the eligibility
of the Purchaser to acquire the Securities.

豁免信赖。购买人知道在此出售的证券是根据美国联邦和州证券法的登记注册要求的豁免出售的,公司在此确认这一豁免的适用是真实的,准确的,而且购买人依赖于该一豁免来决定购买。

 

(g)Information.
The Purchaser and its advisors, if any, have had the opportunity to ask questions of management of the Company and its Subsidiaries
and have been furnished with all information relating to the business, finances and operations of the Company and information relating
to the offer and sale of the Securities which have been requested by the Purchaser or its advisors. Neither such inquiries nor
any other due diligence investigation conducted by the Purchaser or any of its advisors or representatives shall modify, amend
or affect the Purchaser’s right to rely on the representations and warranties of the Company contained herein. The Purchaser
understands that its investment in the Securities involves a significant degree of risk. The Purchaser further represents to the
Company that the Purchaser’s decision to enter into this Agreement has been based solely on the independent evaluation of
the Purchaser and its representatives.

信息。购买人以及其顾问有机会向公司和子公司的管理层就公司的经营、财务和运作以及与此融资有关的信息提问。购买人或其顾问所作的调查或尽职调查没有改变公司在此作出的陈述和保证。购买人明白他的投资有风险,并确认他的投资是在其对投资进行独自评估的基础上作出的。

 

(h)Governmental
Review. The Purchaser understands that no United States federal or state agency or any other government or governmental agency
has passed upon or made any recommendation or endorsement of the Securities.

政府审批。购买人明白美国联邦或州政府或其他行政机构没有审批或推荐出售该证券。

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(i)Transfer or Re-sale. The Purchaser
understands that the sale or re-sale of the Conversion Shares has not been and is not being registered under the Securities Act
or any applicable state securities laws, and the Conversion Shares may not be transferred unless (i) the Conversion Shares are
sold pursuant to an effective registration statement under the Securities Act, (ii) the Purchaser shall have delivered to the
Company an opinion of counsel that shall be in form, substance and scope customary for opinions of counsel in comparable transactions
to the effect that the Securities to be sold or transferred may be sold or transferred pursuant to an exemption from such registration,
which opinion shall be reasonably acceptable to the Company, (iii) the Securities are sold or transferred to an “affiliate”
(as defined in Rule 144 promulgated under the Securities Act (or a successor rule) (“Rule 144”)) of the Purchaser
who agrees to sell or otherwise transfer the Securities only in accordance with this Section 2.2(f) and who is a non-US person,
(iv) the Securities are sold pursuant to Rule 144, or (v) the Securities are sold pursuant to Regulation S under the Securities
Act (or a successor rule) (“Regulation S”). Notwithstanding the foregoing or anything else contained herein
to the contrary, the Securities may be pledged as collateral in connection with a bona fide margin account or other lending
arrangement.

转让或再出售。购买人明白可转的普通股不得根据证券法或适用的州证券法转让或再出售,除非
(i) 可转普通股是在证券法下根据有效的登记申请书出售;(ii)购买人向公司递交合格的法律意见书,说明可转普通股出售可以适用证券法下的豁免;(iii)可转普通股是出售或转让给“关联人”(关联人的定义见证券法下144规则
“144规则”),进行出售的购买人是合格投资人;或(v)
证券根据证券法下的规则S进行出售(“规则S”)。尽管有以上规定,证券可以质押或借贷。

 

(j)Legends.
The Purchaser understands that the Conversion Shares shall bear a restrictive legend in the form as set forth below. The Purchaser
understands that, until such time the Conversion Shares may be sold pursuant to Rule 144 or Regulation S without any restriction
as to the number of securities as of a particular date that can then be immediately sold, the Conversion Shares may bear a restrictive
legend in substantially the following form (and a stop-transfer order may be placed against transfer of the certificates evidencing
such Securities):

限制交易。购买人明白可转普通股带有交易限制。购买人明白,除非出售根据证券法进行登记,或可以适用144规则或规则S进行出售,可转普通股应带有交易限制:

 

“Neither the
offer nor sale of the securities represented by this certificate has been registered under the Securities Act of 1933, as amended,
(the “Act”). The securities may not be sold, transferred or assigned in the absence of an effective registration
statement for the securities under the Act, or an opinion of counsel, in form, substance and scope customary for opinions of counsel
in comparable transactions, that registration is not required under the Act or unless sold pursuant to Rule 144 or Regulation S
under the Act.”

本股权证书代表的证券的要约和出售没有在修订的1933年证券法(“证券法”)或任何州证券法下登记,且不可出售、转让或以其他方式处置;
除非在证券法和相应州证券法下登记或发行人应收到来自公司顾问的意见书,说明根据证券法或相关的州证券法条款无须登记并且此意见书对于发行人是合理充分的。

 

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(k)Residency.
The Purchaser is a resident of the jurisdiction set forth immediately below such Purchaser’s name on the signature pages
hereto.

购买人居住地和受管辖地列于本协议的签字页。

 

(l)Short
Sales.The Purchaser may engage in short sales of Common Stock, to the extent permissible by applicable law and regulation.

 

短期出售。购买人可以在适用法律和规则允许的豁免范围内短期出售普通股。

 

(m) Intentionally
Left Blank.

有意留空

 

(n) Additional Representations
and Warranties of Non-U.S. Persons. The Purchaser indicating that it is not a U.S. person on its signature page to this Agreement,
severally and not jointly, further makes the representations and warranties to the Acquiror Company set forth on Exhibit A-2.

非美国主体的额外陈述和保证。请见附件A-2。

 

(o) No
General Solicitation. The Purchaser acknowledges that the Debentures were not offered to such Purchaser by means of any form
of general or public solicitation or general advertising, or publicly disseminated advertisements or sales literature, including
(i) any advertisement, article, notice or other communication published in any newspaper, magazine, or similar media, or broadcast
over television or radio, or (ii) any seminar or meeting to which such Purchaser was invited by any of the foregoing means of communications.

无一般劝诱。购买人承认公司要约出售债券没有采取一般或公众劝诱或一般广告或公众广告或销售讲座的方式,包括(i)

 

(p) Rule
144. Such Purchaser understands that the Conversion Shares must be held indefinitely unless such Conversion Shares are registered
under the Securities Act or an exemption from registration is available. Such Purchaser acknowledges that such Purchaser is familiar
with Rule 144 and Rule 144A, of the rules and regulations of the Commission, as amended, promulgated pursuant to the Securities
Act (“Rule 144”), and that such person has been advised that Rule 144 and Rule 144A, as applicable, permits
resales only under certain circumstances. Such Purchaser understands that to the extent that Rule 144 or Rule 144A is not available,
such Purchaser will be unable to sell any Conversion Shares without either registration under the Securities Act or the existence
of another exemption from such registration requirement.

规则144。购买人明白可转的普通股票的持有是不确定的,除非股票经登记注册或登记注册被豁免。购买人承认其熟知规则144,
并被告知根据规则144,股票只有在特定的情况下才被允许出售;并且在不能适用规则144时,如果股票没有登记注册或豁免,就不能出售。

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(q) Independent
Investment. Except as may be disclosed in any filings with the Commission by the Purchaser under Section 13 and/or Section
16 of the Exchange Act, no Purchaser has agreed to act with any other Purchaser for the purpose of acquiring, holding, voting or
disposing of the Debentures purchased hereunder for purposes of Section 13(d) under the Exchange Act, and the Purchaser is acting
independently with respect to its investment in the Debentures.

独立投资。除了根据证券交易法第13条和/或第16条的规定可能在向证监会申报的报表中进行的披露之外,购买人没有与其他任何购买人联合购买、持有、投票、或处理根据证券交易法Section
13(d)条的目的购买的证券,而且购买人就其投资独立。

 

(r) Brokers.
Purchaser does not have any knowledge of any brokerage or finder’s fees or commissions that are or will be payable by the
Company to any broker, financial advisor or consultant, finder, placement agent, investment banker, bank or other person or entity
with respect to the transactions contemplated by this Agreement.

融资代理。据投资人所知,公司不需要支付任何其他融资代理、金融顾问、发现者、券商、投资银行、银行或其他个人或主体任何与本交易有关的中介费、发理费或佣金。

ARTICLE III

 

Covenants

 

The Company covenants
with the Purchaser as follows, which covenants are for the benefit of the Purchaser and its permitted assignees (as defined herein).

出于购买人和他们的受让人的利益考虑,公司同意以下条款:

 

Section 3.1Securities
Compliance. The Company shall notify the Commission in accordance with its rules and regulations, of the transactions contemplated
by any of this Agreement, and shall take all other necessary action and proceedings as may be required and permitted by applicable
law, rule and regulation, for the legal and valid issuance of the Debentures to the Purchaser or subsequent holders.

符合证券法的规定。公司应根据证券法的规定,向证监会通知申报交易文件,,以及根据适用法律、法则和规则的要求,采取所有其他必需的行动和程序来有效合法的发行债券。

 

Section 3.2Confidential
Information. The Purchaser agrees that such Purchaser and its employees, agents and representatives will keep confidential
and will not disclose, divulge or use (other than for purposes of monitoring its investment in the Company) any confidential information
which such Purchaser may obtain from the Company pursuant to financial statements, reports and other materials submitted by the
Company to such Purchaser pursuant to this Agreement, unless such information is known to the public through no fault of such
Purchaser or his or its employees or representatives; provided, however, that a Purchaser may disclose such information (i) to
its attorneys, accountants and other professionals in connection with their representation of such Purchaser in connection with
such Purchaser’s investment in the Company, (ii) to any prospective permitted transferee of the Debentures, so long as the
prospective transferee agrees to be bound by the provisions of this Section 3.3, or (iii) to any general partner or affiliate
of such Purchaser.

保密信息。购买人同意其对于公司根据本协议和其他交易文件提供给购买人、购买人员工、代理事代理的财务报表、报告或其他材料中的内部信息会保密、不披露、不泄露或使用,除非该内部信息非因购买人的过错而为公众所知悉,但是购买人可以披露以下(i)向购买人的律师、会计和其他专业人士披露其向公司的投资;(ii)
只要未来的股票受让人受本协议第3.3条约束,可以向未来受让人披露;或(iii)向购买人的一般合伙人或关联人披露。

 

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Section 3.3Compliance
with Laws. The Company shall comply, and cause each subsidiary to comply in all material respects, with all applicable laws,
rules, regulations and orders,except where non-compliance could not reasonably be expected to have
a Material Adverse Effect.

符合法律。公司和其子司应在重大方面,符合相关的法律、法规、规则和命令的规定,
除非不符合不会对公司造成重大不利影响。

 

Section 3.4Keeping
of Records and Books of Account. The Company shall keep and cause each Subsidiary to keep adequate records and books of account,
in which complete entries will be made in accordance with GAAP consistently applied, reflecting all financial transactions of the
Company and the Subsidiaries, and in which, for each fiscal year, all proper reserves for depreciation, depletion, obsolescence,
amortization, taxes, bad debts and other purposes in connection with its business shall be made.

记录和会计账册。公司和子公司应保存充分的记录和会计账册,与一般会计准则的记录规则相符,反映公司和子公司的所有金融交易。

 

Section 3.5Intentionally
Left Blank

.有意留空。

 

Section 3.6Disclosure
of Transaction. The Company shall file with the Commission, the Form 8-K describing the material terms of the transactions
contemplated hereby (and attaching as exhibits thereto this Agreement) within four (4) Business Days following the First Closing
Date. “Business Day” means any day during which the NYSE AMEX (“AMEX”) (or other principal
exchange) shall be open for trading.

披露交易。公司应在交割结算日后的三个工作日内向证监会申报表格8K,披露本交易的主要条款(并将本协议、列为表格8K的附件)。
“工作日”指纽约证交所(或任何其他主板市场)开放交易日。

 

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Section 3.7Disclosure
of Material Information. The Company and the Subsidiaries covenant and agree that neither it nor any other person acting on
its or their behalf has provided or, from and after the filing of the Press Release, will provide any Purchaser or its agents
or counsel with any information that the Company believes constitutes material non-public information (other than with respect
to the transactions contemplated by this Agreement), unless prior thereto such Purchaser shall have executed a specific written
agreement regarding the confidentiality and use of such information. The Company understands and confirms that the Purchaser shall
be relying on the foregoing covenants in effecting transactions in securities of the Company. At the time of the filing of the
Press Release, no Purchaser shall be in possession of any material, nonpublic information received from the Company, any of its
subsidiaries or any of its respective officers, directors, employees or agents, that is not disclosed in the Press Release. The
Company shall not disclose the identity of any Purchaser in any filing with the SEC except as required by the rules and regulations
of the SEC thereunder. In the event of a breach of the foregoing covenant by the Company, any of its subsidiaries, or any of its
or their respective officers, directors, employees and agents, in addition to any other remedy provided herein, a Purchaser may
notify the Company, and the Company shall make public disclosure of such material nonpublic information within two (2) trading
days of such notification. 

重大信息披露。公司和子公司承诺并同意,在公告之前或之后,除了与本交易有关的信息之外,公司或任何公司代表人没有向购买人或其代理或顾问披露任何重大内部信息,除非购买人在此之前签署了一份关于保密和使用该内部信息的特别书面协议。公司确认购买人会依赖上述承诺进行交易。在公告发表之明,购买人不应拥有任何从公司、任何子公司、管理人员、董事、员工、代理处获得的没有在公告中披露的重大内部信息。

 

Section 3.8Pledge
of Debentures. The Company acknowledges and agrees that the Debentures may be pledged by a Purchaser in connection with a
bona fide margin agreement or other loan or financing arrangement that is secured by the Debentures. The pledge
of Debentures shall not be deemed to be a transfer, sale or assignment of the Debentures hereunder, and no Purchaser effecting
a pledge of Debentures shall be required to provide the Company with any notice thereof or otherwise make any delivery to the
Company pursuant to this Agreement; provided, that a Purchaser and its pledgee shall be required to comply with the provisions
of Article V hereof in order to effect a sale, transfer or assignment of Debentures to such pledgee. At a Purchaser’s expense,
the Company hereby agrees to execute and deliver such documentation as a pledgee of the Debentures may reasonably request in connection
with a pledge of the Debentures to such pledgee by a Purchaser, in accordance with applicable laws relating to the transfer of
the securities. 

债券的质押。公司同意购买人可以进行债券质押。债券的质押不应视为债券转让、出售,购买人不需根据本协议和其他交易文件通知公司;但是,如果购买人要将债券转让、出售给质押权人,必须符合本协议第5条款的规定。公司同意在质押权人合理要求的前提下,根据股票交易相关法的规定,签署和送达必须的质押文件,但购买人应承担费用。

 

Section 3.9
Sarbanes-Oxley Act. The Company shall be in compliance with the applicable provisions of the Sarbanes-Oxley Act of 2002,
and the rules and regulations promulgated thereunder, as required under such Act. 

萨班斯-奥克斯利法案。公司与相适用的2002年萨班斯法-奥克斯利法案(“萨班斯—奥克斯利法案”),
以及其他相适用的相关规则和规则相符合。

 

Section 3.10 No
Integrated Offerings. The Company shall not make any offers or sales of any security (other than the securities being offered
or sold hereunder) under circumstances that would require registration of the securities being offered or sold hereunder under
the Securities Act.

无其他合并要约。除了本交易中出售的证券外,公司不应要约或出售任何需要根据证券法进行登记的公司证券。

 

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Section 3.11No
Manipulation of Price. The Company will not take, directly or indirectly, any action designed to cause or result in, or that
has constituted or might reasonably be expected to constitute, the stabilization or manipulation of the price of any securities
of the Company.

无操纵价格。公司不会直接或间接采取任何行动,意图或导致,或构成或合理预期会构成对公司证券价格的稳定和操纵。

 

ARTICLE IV

第四条

 

CONDITIONS

条件

 

Section 4.1Conditions
Precedent to the Obligation of the Company to Sell the Debentures. The obligation hereunder of the Company to issue and sell
the Debentures is subject to the satisfaction or waiver, at or before the Closing, of each of the conditions set forth below. These
conditions are for the Company’s sole benefit and may be waived by the Company at any time in its sole discretion.

第4.1节公司出售债券的义务的前提条件。在此协议下,公司仅在以下各条件在交割时或交割之前被满足或被放弃时,才承担发行并向购买人出售债券的义务。此等条件是基于公司的利益,公司可随时依据自己的决定选择放弃此等条件。

 

(a) Accuracy
of the Purchaser’s Representations and Warranties. The representations and warranties of the Purchaser in this Agreement
shall be true and correct in all material respects as of the date when made and as of the Closing Date as though made at that time,
except for representations and warranties that are expressly made as of a particular date, which shall be true and correct in all
material respects as of such date.

(a)各购买人的陈述与保证的准确性。此协议中购买人的陈述与保证以在各个重大方面都应真实并且准确,此真实性和准确性是针对协议签署时和交割日来衡量,但是若陈述和保证中明示说明了产生日期,则按照此日期来衡量。

 

(b) Performance
by the Purchaser. The Purchaser shall have performed, satisfied and complied in all respects with all covenants, agreements
and conditions required by this Agreement to be performed, satisfied or complied with by such Purchaser at or prior to the Closing.

(b)购买人的履行。在交割时或交割之前,各购买人应在各方面履行,达到并符合所有各购买人履行,达到或符合此协议所必需的合意,合同和条件。

 

(c) No
Injunction. No statute, rule, regulation, executive order, decree, ruling or injunction shall have been enacted, entered, promulgated
or endorsed by any court or governmental authority of competent jurisdiction which prohibits the consummation of any of the transactions
contemplated by this Agreement.

 

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(c)无强制令。任何适格的法律管辖区中的法院或政府机构不得制定,通过,颁布或支持任何禁止此协议中所述交易发生的法条,规则,规章,可执行命令,法令,判决或强制令。

 

(d) Delivery
of Purchase Price. The Purchase Price for the Debentures shall have been delivered to the Company pursuant to the wiring information
contained hereto in Exhibit __ to this Agreement.

(d) 购买价格的告知。股票购买价格应依据本协议的汇款信息支付。

 

(e) Delivery
of this Agreement. This Agreement shall have been duly executed and delivered by the Purchaser to the Company.

(e)交易文件的递交。任何购买人做为当事方的交易文件应由购买人及时的签署并递交至公司。

 

Section 4.2Conditions
Precedent to the Obligation of the Purchaser to Purchase the Debentures in the Offering. The obligation hereunder of the Purchaser
to acquire and pay for the Debentures offered in the Offering is subject to the satisfaction or waiver, at or before the Closing,
of each of the conditions set forth below. These conditions are for the Purchaser’s sole benefit and may be waived by such
Purchaser at any time in its sole discretion.

 

第4.2节购买人购买债券的义务的前提条件。在此协议下,各购买人仅在以下各个条件在交割时或交割之前被满足或被放弃时,才承担购买债券并支付的义务。此等条件是基于购买人的利益,并且购买人可随时自行决定选择放弃此等条件。

 

(a)Accuracy
of the Company’s Representations and Warranties. Each of the representations and warranties of the Company in this Agreement
shall be true and correct in all respects as of the date when made and as of the Closing Date as though made at that time, except
for representations and warranties that are expressly made as of a particular date, which shall be true and correct in all respects
as of such date.

(a)公司的陈述与保证的准确性。此协议中公司的陈述与保证在各个重大方面都应真实并且准确,此真实性和准确性是针对协议签署时和交割日来判定,但是若陈述和保证中明示说明了做出日期,则按照此日期来判定。

 

(b)Performance
by the Company. The Company shall have performed, satisfied and complied in all respects with all covenants, agreements and
conditions required by this Agreement to be performed, satisfied or complied with by the Company at or prior to the Closing.

(b)公司的履行。在交割时或交割之前,公司应在各方面履行,满足并符合所有公司履行,满足或符合此协议所必需的合意,合同和条件。

 

(c)No Injunction.
No statute, rule, regulation, executive order, decree, ruling or injunction shall have been enacted, entered, promulgated or endorsed
by any court or governmental authority of competent jurisdiction which prohibits the consummation of any of the transactions contemplated
by this Agreement.

(c)无强制令。任何适格的法律管辖区中的法院或政府机构不得制定,通过,颁布或支持任何禁止此协议中所述交易发生的法条,规则,规章,可执行命令,法令,判决或强制令。

 

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(d)No Proceedings
or Litigation. No action, suit or proceeding before any arbitrator or any governmental authority shall have been commenced,
and no investigation by any governmental authority shall have been threatened, against the Company or any subsidiary, or any of
the officers, directors or affiliates of the Company or any subsidiary seeking to restrain, prevent or change the transactions
contemplated by this Agreement, or seeking damages in connection with such transactions.

(d)无诉讼程序或诉讼。不得在任何仲裁员或任何政府机构提起任何诉讼,案件或诉讼程序;任何政府机构不得针对公司或其子公司,或公司或其子公司的任何管理人员,董事会成员或附属机构发起调查,试图限制,禁止或改变此协议所述的交易或要去与此类交易有关的损害赔偿。

 

(e) Certificates.
The Company shall have executed and delivered to the Purchaser the certificates (in such denominations as such Purchaser shall
request) for the Debentures being acquired by such Purchaser at the Closing (in such denominations as such Purchaser shall request)
to such address set forth next to the Purchaser with respect to the Closing.

(h)证书。公司应签署并向购买人送达由此购买人在交割时收购的债券合同,地址应为交割时购买人的地址。证书的种类/面值依购买人所要求。

 

(i) Resolutions.
The Board of Directors of the Company shall have adopted resolution consistent with Section 2.1(b) hereof in a form reasonably
acceptable to such Purchaser (the “Resolution”).

(i)决议。公司董事会应采纳与此协议中第2.1节(b)相一致的,在形式上可被此购买人合理的接受的决议(“决议”)。

 

(k) Secretary’s
Certificate. The Company shall have delivered to such Purchaser a secretary’s certificate, dated as of the Closing Date,
as to (i) the resolutions adopted by the Board of Directors of the Company consistent with Section 2.1(b), (ii) the Articles,
(iii) the Bylaws, , and (iv) the authority and incumbency of the officers of the Company executing this Agreement.

(k)秘书处的证书。公司向各购买人提供秘书处的证书,签署于交割日,关于(i)公司董事会采纳的与第2.1节(b)相一致的决议,(ii)协议,(iii)公司章程,(iv)公司在职的管理人员签署的交易文件和其他任何与此协议相关的必须签署或送达的文件。

 

(l) Officer’s
Certificate. The Company shall have delivered to the Purchaser a certificate of an executive officer of the Company, dated
as of the Closing Date, confirming the accuracy of the Company’s representations, warranties and covenants as of the Closing
Date and confirming the compliance by the Company with the conditions precedent set forth in this Section 4.2 as of the Closing
Date.

(l)管理人员的证书。公司应向购买人提供公司执行人员出具的证书,签署日为交割日,确认公司的陈述,保证和条款在交割日当日是准确的,并确认在交割日当日公司符合了第4.2节的前提条件。

 

(n)Material
Adverse Effect. No Material Adverse Effect shall have occurred at or before the Closing Date.

(n)重大负面影响。在交割日或交割日之前不得产生重大负面影响。

 

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ARTICLE V

 

Stock Certificate Legend

第五条

股权证书上的说明

 

Section 5.1Legend.
Each certificate representing the Conversion Shares shall be stamped or otherwise imprinted with a
legend substantially in the following form (in addition to any legend required by applicable state securities or “blue
sky” laws):

第5.1节说明。可转普通股的股权证书都应盖印或刻印有与下段文字基本相同的说明(此说明是对任何相关的州证券法或“蓝天”法所要求的说明的补充):

 

THESE SECURITIES REPRESENTED BY THIS
CERTIFICATE (THE “SECURITIES”) HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES
ACT”) OR ANY STATE SECURITIES LAWS AND MAY NOT BE SOLD, TRANSFERRED OR OTHERWISE DISPOSED OF UNLESS REGISTERED UNDER THE
SECURITIES ACT AND UNDER APPLICABLE STATE SECURITIES LAWS OR THE COMPANY SHALL HAVE RECEIVED AN OPINION OF COUNSEL THAT REGISTRATION
OF SUCH SECURITIES UNDER THE SECURITIES ACT AND UNDER THE PROVISIONS OF APPLICABLE STATE SECURITIES LAWS IS NOT REQUIRED.

 

此证书代表的证券(“证券”)尚未依照1933年的证券法及其修改案(“证券法”)或任何的州证券法的要求登记,不得出售,转让或进行其他处理,除非已依照证券法和相关的州证券法进行登记,或者公司已收到法律顾问出具的意见书,提出依照证券法和相关的州证券法的条款,此证券的登记不是必须的。

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The Company agrees
to reissue certificates representing any of the Conversion Shares, without the legend set forth above if at such time, prior to
making any transfer of any such Conversion Shares, such holder thereof shall give written notice to the Company describing the
manner and terms of such sale and removal as the Company may reasonably request. Such proposed transfer and removal will not be
effected until: (a) either (i) the Company has received an opinion of counsel reasonably satisfactory to the Company, to the effect
that the registration of the Conversion Shares under the Securities Act is not required in connection with such proposed transfer,
(ii) a registration statement under the Securities Act covering such proposed disposition has been filed by the Company with the
Commission and has become effective under the Securities Act, (iii) the Company has received other evidence reasonably satisfactory
to the Company that such registration and qualification under the Securities Act and state securities laws are not required, or
(iv) the holder provides the Company with reasonable assurances that such security can be sold pursuant to Rule 144(i) under the
Securities Act; and (b) either (i) the Company has received an opinion of counsel reasonably satisfactory to the Company, to the
effect that registration or qualification under the securities or “blue sky” laws of any state is not required in connection
with such proposed disposition, or (ii) compliance with applicable state securities or “blue sky” laws has been effected
or a valid exemption exists with respect thereto. The Company will respond to any such notice from a holder within five (5) business
days. In the case of any proposed transfer under this Section 5.1, the Company will use reasonable efforts to comply with any such
applicable state securities or “blue sky” laws, but shall in no event be required, (x) to qualify to do business in
any state where it is not then qualified, (y) to take any action that would subject it to tax or to the general service of process
in any state where it is not then subject, or (z) to comply with state securities or “blue sky” laws of any state for
which registration by coordination is unavailable to the Company. The restrictions on transfer contained in this Section 5.1 shall
be in addition to, and not by way of limitation of, any other restrictions on transfer contained in any other section of this Agreement.
Whenever a certificate representing the Conversion Shares is required to be issued to a Purchaser without a legend, in lieu of
delivering physical certificates representing the Conversion Shares (provided that a registration statement under the Securities
Act providing for the resale of the Conversion Shares is then in effect), the Company may cause its transfer agent to electronically
transmit the Conversion Shares to a Purchaser by crediting the account of such Purchaser or such Purchaser’s prime broker
with the DTC through its DWAC system (to the extent not inconsistent with any provisions of this Agreement).

如在转让任何此类证券之前,此持有人依公司的合理请求向公司发出了书面通知,通知中描述了此销售和移除的方式和条款,则公司同意重新发行代表普通股的未印有以上说明的股权证书。此销售和移除只有在满足以下条件后才生效:(a)任选其一(i)公司收到法律顾问出具的法律意见书,公司合理的觉得此意见书指出了依照证券法,此转让不要求登记转让股或期权股,(ii)公司已向证监会递交了依证券法涵盖了此处理方式的登记注册表,并已依据证券法生效,(iii)公司已收到其他公司认为满意的证据,说明依据证券法和州证券法此类登记和资格不是必须的,或(iv)持有人向公司提供合理的保证,保证此证券可依证券法下的144规则(i)出售;并且(b)任选其一(i)公司已收到法律顾问出具的法律意见书,公司合理的觉得此意见书提出了在任何州的证券法或“蓝天”法下,登记或资格不进行此处理所必需的,或(ii)已符合相关州证券法或“蓝天”法或存在有效的豁免。公司将在五(5)个工作日之内回复持有人发出的此类通知。在第5.1节所述的转让下,公司合理的尽力符合相关的州证券法或“蓝天”法,但不得被要求,(x)在任何公司没有资格经营的州获取资格,(y)在本不受管辖的州,采取可能使公司纳税或接
受法律文书送达程序的行动,或(z)符合在经过协调之后登记仍对公司不适用的州的证券法或“蓝天”法。第5.1节中所述的对转让的限制是补充,且不得限制此协议其他部分中对此转让的限制的适用。
当转换股或期权股的股权证书必须不印有说明而发行给购买人时,未避免递交转换股或期权股股权证明本身(前提是允许期权股和转换股转售的登记注册表已依据证券法生效),公司可要求其转让代理人将转换股或期权股以电子形式传输给购买人,从此购买人账户中扣除款项或通过其保管机构直接支取系统从此购买人在存券信托公司的主要经纪人的账户中扣除款项(在不与此协议的条款相冲突的范围内)。

 

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ARTICLE VI

第四条

 

Indemnification

补偿

 

Section 6.1General
Indemnity. The Company agrees to indemnify and hold harmless the Purchaser (and their respective directors, officers, managers,
partners, members, shareholders, affiliates, agents, successors and assigns) from and against any and all losses, liabilities,
deficiencies, costs, damages and expenses (including, without limitation, reasonable attorneys’ fees, charges and disbursements)
incurred by the Purchaser as a result of any inaccuracy in or breach of the representations, warranties or covenants made by the
Company herein. The Purchaser severally but not jointly agrees to indemnify and hold harmless the Company and its directors, officers,
affiliates, agents, successors and assigns from and against any and all losses, liabilities, deficiencies, costs, damages and expenses
(including, without limitation, reasonable attorneys’ fees, charges and disbursements) incurred by the Company as a result
of any inaccuracy in or breach of the representations, warranties or covenants made by such Purchaser herein. The maximum aggregate
liability of the Purchaser pursuant to its indemnification obligations under this Article VI shall not exceed the portion of the
Purchase Price paid by such Purchaser hereunder. In no event shall any “Indemnified Party” (as defined below) be entitled
to recover consequential or punitive damages resulting from a breach or violation of this Agreement.

第6.1条常规补偿。公司同意补偿购买人(及其各自的董事会成员,高级职员,管理层人员,合伙人,成员,股东,附属机构,代理人,继承人和子实体)并保证其免受任何及所有的损失,责任,短缺,费用,损害赔偿和花销(包括但不限于,合理的律师费),以上所有损失都由购买人承担的,因公司做出的保证,陈述和协议中的不准确或违反了其中条款而产生。各购买人同意可分的但不连带的补偿公司及其董事会成员,附属机构,代理人,继承者和子实体,并使其免受任何及所有的损失,责任,短缺,费用,损害赔偿和花销(包括但不限于,合理的律师费),以上所有损失是由公司承担的,因购买人做出的保证,陈述和协议中的不准确或违反了其中条款而产生。各购买人依此第四条中所述补偿而承担的最大的总责任不得超过此购买人所支付的购买价格。任何“受补偿方”(定义见下)不得享有因违反此协议而引起的间接损害赔偿或惩罚性损害赔偿

 

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Section 6.2Indemnification
Procedure. Any party entitled to indemnification under this Article VI (an “Indemnified Party”) will give
written notice to the indemnifying party of any matters giving rise to a claim for indemnification; provided, that the failure
of any party entitled to indemnification hereunder to give notice as provided herein shall not relieve the indemnifying party of
its obligations under this Article VI except to the extent that the indemnifying party is actually prejudiced by such failure to
give notice. In case any action, proceeding or claim is brought against an Indemnified Party in respect of which indemnification
is sought hereunder, the indemnifying party shall be entitled to participate in and, unless in the reasonable judgment of the Indemnified
Party a conflict of interest between it and the indemnifying party may exist with respect of such action, proceeding or claim,
to assume the defense thereof with counsel reasonably satisfactory to the Indemnified Party. In the event that the indemnifying
party advises an Indemnified Party that it will contest such a claim for indemnification hereunder, or fails, within thirty (30)
days of receipt of any indemnification notice to notify, in writing, such person of its election to defend, settle or compromise,
at its sole cost and expense, any action, proceeding or claim (or discontinues its defense at any time after it commences such
defense), then the Indemnified Party may, at its option, defend, settle or otherwise compromise or pay such action or claim. In
any event, unless and until the indemnifying party elects in writing to assume and does so assume the defense of any such claim,
proceeding or action, the Indemnified Party’s costs and expenses arising out of the defense, settlement or compromise of
any such action, claim or proceeding shall be losses subject to indemnification hereunder. The Indemnified Party shall cooperate
fully with the indemnifying party in connection with any negotiation or defense of any such action or claim by the indemnifying
party and shall furnish to the indemnifying party all information reasonably available to the Indemnified Party which relates to
such action or claim. The indemnifying party shall keep the Indemnified Party fully apprised at all times as to the status of the
defense or any settlement negotiations with respect thereto. If the indemnifying party elects to defend any such action or claim,
then the Indemnified Party shall be entitled to participate in such defense with counsel of its choice at its sole cost and expense.
The indemnifying party shall not be liable for any settlement of any action, claim or proceeding effected without its prior written
consent, provided, however, that the indemnifying party shall be liable for any settlement if the indemnifying party
is advised of the settlement but fails to respond to the settlement within thirty (30) days of receipt of such notification. Notwithstanding
anything in this Article VI to the contrary, the indemnifying party shall not, without the Indemnified Party’s prior written
consent, settle or compromise any claim or consent to entry of any judgment in respect thereof which imposes any future obligation
on the Indemnified Party or which does not include, as an unconditional term thereof, the giving by the claimant or the plaintiff
to the Indemnified Party of a release from all liability in respect of such claim. The indemnification required by this Article
VI shall be made by periodic payments of the amount thereof during the course of investigation or defense, as and when bills are
received or expense, loss, damage or liability is incurred, so long as the Indemnified Party irrevocably agrees to refund such
moneys if it is ultimately determined by a court of competent jurisdiction that such party was not entitled to indemnification.
The indemnity agreements contained herein shall be in addition to (a) any cause of action or similar rights of the Indemnified
Party against the indemnifying party or others, and (b) any liabilities the indemnifying party may be subject to pursuant to the
law.

第6.2节补偿程序。任何依据此第六条有权享有补偿的当事方(“受补偿方”)应就任何因此补偿而引出的诉讼请求向补偿方发出书面通知;前提是,若受补偿方未能发出此通知,补偿方仍需承担其在此第六条下的补偿责任,除非此不作为会对补偿方产生不公正结果。在就此补偿而向受补偿方提出的任何诉讼,诉讼程序或诉讼请求中,补偿方应有权参与其中并与法律顾问一起提出受补偿方合理的觉得满意的抗辩,除非依据受补偿方的合理的判断,存在利益冲突,并且补偿方很可能在此诉讼,诉讼程序或诉讼请求中胜出。若补偿方告知受补偿方其将应诉,或在收到任何关于补偿的通知后的三十(30)天内未能书面通知受补偿方其将选择自费应诉,调解或折中方式(或在应诉后的任何时候停止抗辩),则受补偿方可自由选择应诉,调解或其它折中方法,或支付此诉讼或诉讼请求的费用。在任何情况下,除非补偿方书面选择并确已开始抗辩,因此抗辩,调节或折中方式而产生的受补偿方的费用和花销应为可依此条款补偿的款项。受补偿方应就此诉讼或诉讼请求的协商或抗辩与补偿方全力合作,并向补偿方提供受补偿方可合理获取的与此诉讼或诉讼请求相关的所有信息。补偿方应将抗辩或任何调解协商的进展情况及时通
知受补偿方。若补偿方选择应诉此诉讼或诉讼请求,则受补偿方应有权自费与法律顾问参与到此抗辩中。补偿方不因任何未获其书面同意便生效的调解而承担责任,但是,若已将调解告知补偿方,但补偿方未能在收到此通知的三十(30)天内回应,则补偿方应对此调解承担责任。除非与此第六条规定相冲突,若未得到受补偿方的事先书面同意,补偿方不得同意调解或采用折中方式或同意任何要求受补偿方承担任何将来义务的判决或者不包含要求起诉方或原告免除所有受补偿方与此诉讼请求相关的所有责任这一无条件条款的判决。只要受补偿方同意(此同意为不可撤回)若适格法律管辖区的法院最终判定此当事方无权获得补偿,受补偿方将退还此所有补偿,则在调查或抗辩过程中收到的账单的款项,或在此期间产生的花销,损失,损害赔偿或责任的补偿应分期支付。此补偿协议是以下权利的补充(a)受补偿方针对补偿方所享有的任何诉因,及(b)任何补偿方可能依法承担的责任。

 

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ARTICLE VII

第七条

 

Miscellaneous

其他条款

 

Section 7.1Fees
and Expenses. Except as otherwise set forth in this Agreement, each party shall pay the fees and expenses of its advisors,
counsel, accountants and other experts, if any, and all other expenses, incurred by such party incident to the negotiation, preparation,
execution, delivery and performance of this Agreement..

第7.1节费用和花销。除此协议所述,各当事方应自行支付其顾问,会计师和其他专家的费用和花销,以及所有其他与协商,准备,执行,送达和履行此协议有关的花销。

 

Section 7.2Specific
Enforcement, Consent to Jurisdiction.

第7.2节特别履行,同意接受司法管辖。

 

(a) The
Company and the Purchaser acknowledge and agree that irreparable damage would occur in the event that any of the provisions of
this Agreement were not performed in accordance with their specific terms or were otherwise breached. It is accordingly agreed
that the parties shall be entitled to an injunction or injunctions to prevent or cure breaches of the provisions of this Agreement
and to enforce specifically the terms and provisions hereof or thereof, this being in addition to any other remedy to which any
of them may be entitled by law or equity.

(a)公司和购买人承认并同意一旦发生无法补救的损失,不得要求此协议的特别履行。双方也就此同意各方都有权要求强制令以阻止或消除此协议的违约情况,并要求执行此协议中的具体条款,此救济是对任何依据法律或衡平法可适用的救济的补充。

 

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(b)Each of the Company
and the Purchaser (i) hereby irrevocably submits to the jurisdiction of the United States District Court sitting in the Southern
District of New York and the courts of the State of New York located in New York county for the purposes of any suit, action or
proceeding arising out of or relating to this Agreement or the transactions contemplated hereby or thereby and (ii) hereby waives,
and agrees not to assert in any such suit, action or proceeding, any claim that it is not personally subject to the jurisdiction
of such court, that the suit, action or proceeding is brought in an inconvenient forum or that the venue of the suit, action or
proceeding is improper. Each of the Company and the Purchaser consents to process being served in any such suit, action or proceeding
by mailing a copy thereof via registered or certified mail or overnight delivery (with evidence of delivery) to such party at the
address in effect for notices to it under this Agreement and agrees that such service shall constitute good and sufficient service
of process and notice thereof. Nothing in this Section 7.2 shall affect or limit any right to serve process in any other manner
permitted by law. Each party hereby irrevocably waives personal service of process and consents to process being served in any
such suit, action or proceeding by mailing a copy thereof to such party at the address for such notices to it under this Agreement
and agrees that such service shall constitute good and sufficient service of process and notice thereof. The Company hereby appoints
Hunter Taubman Fischer LLC, with offices at 1450 Broadway, 26th Floor, New York, NY 10018 as its agent for service of
process in New York. Nothing contained herein shall be deemed to limit in any way any right to serve process in any manner permitted
by law.

(b)公司和购买人(i)就所有因此协议或其所述的交易而产生的诉讼或诉讼程序,接受位于纽约州南区的美国巡回法院以及位于纽约郡的纽约州法院的管辖,此接受不可撤回,并且(ii)放弃并同意不在任何诉讼或诉讼程序中提出任何关于不受此等法院属人管辖,或诉讼在不方便法院提起,或案件审判地不合适的诉讼请求。公司和购买人同意在此类诉讼中送达服务可通过使用挂号信或第二日送达服务(需有送达的证明)将依此协议所需的通知复印件送达至有效的地址,并同意此类送达是良好有效的法律文书送达和通知。第7.2节不得影响或限制任何其他法律允许的送达方式。各当事方就此放弃对个人送达法律文书的要求,同意以邮寄作为法律文书送达方式,并同意此类送达是良好有效的法律文书送达和通知。公司就此指定翰博文律师事务所(位于纽约州纽约市百老汇大街1450号第26楼,10018)为文书送达的代理人。此条款不得限制任何其他法律所允许的有关法律文书送达的权利。

 

Section 7.3Entire
Agreement; Amendment. This Agreement contains the entire understanding and agreement of the parties with respect to the matters
covered hereby and, except as specifically set forth herein, neither the Company nor any of the Purchaser makes any representations,
warranty, covenant or undertaking with respect to such matters and they supersede all prior understandings and agreements with
respect to said subject matter, all of which are merged herein. No provision of this Agreement may be waived or amended other than
by a written instrument signed by the Company and the Purchaser , and no provision hereof may be waived other than by a written
instrument signed by the party against whom enforcement of any such waiver is sought.

第7.3节合同的完整性;修正案。此协议和即为当事方对所有协议中所述事项的完整理解和合意,除非此协议中特别指明,公司或任何一购买人不得对此协议中所述事项做出任何陈述,保证,协议或承诺;针对所述事项的所有先前的理解和合意都合并到此协议中,并被此协议所取代。若无公司的书面同意,此协议或其他交易文件中的任何条款不得被放弃或修改,且只有当享有权利的一方在此书面同意上签字时。

 

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Section 7.4Notices.
All notices, demands, consents, requests, instructions and other communications to be given or delivered or permitted under or
by reason of the provisions of this Agreement or in connection with the transactions contemplated hereby shall be in writing and
shall be deemed to be delivered and received by the intended recipient as follows: (i) if personally delivered, on the business
day of such delivery (as evidenced by the receipt of the personal delivery service), (ii) if mailed certified or registered mail
return receipt requested, two (2) business days after being mailed, (iii) if delivered by overnight courier (with all charges having
been prepaid), on the business day of such delivery (as evidenced by the receipt of the overnight courier service of recognized
standing), or (iv) if delivered by facsimile transmission, on the business day of such delivery if sent by 6:00 p.m. in the time
zone of the recipient, or if sent after that time, on the next succeeding business day (as evidenced by the printed confirmation
of delivery generated by the sending party’s telecopier machine). If any notice, demand, consent, request, instruction or
other communication cannot be delivered because of a changed address of which no notice was given (in accordance with this Section
7.4), or the refusal to accept same, the notice, demand, consent, request, instruction or other communication shall be deemed received
on the second business day the notice is sent (as evidenced by a sworn affidavit of the sender). All such notices, demands, consents,
requests, instructions and other communications will be sent to the following addresses or facsimile numbers as applicable:

第7.4节通知。所有通知,要求,同意,请求,指示和其他因此协议需要或允许的交流或与此协议中的交易相关的交流应以书面形式出现,在以下情况中,应被视为已送达并由预期的接收者收取:(i)若人力递送,则是递送的工作日(以人力递送服务的收据为证),(ii)若由要求回执的挂号信邮寄,则为邮寄后的两(2)个工作日,(iii)若使用第二日送达的快递服务(预付所有费用),则为递送的工作日(以具有一定公信力的第二日送达服务的收据为证),或(iv)若通过传真,且在收信人当地时间下午六点前发出的,为传真当天,若在其他时间,则为下一个工作日(以发送方传真机器打印的确认发送的通知为证)。若任何通知,要求,同意,请求,指示和其他交流因地址改变且未事前通知(须符合第7.4节要求),或者拒绝接收,则此通知,要求,同意,请求,指示和其他交流应视为在通知发出的第二个工作受到(以发送方的宣誓书为证)。所有此类通知,要求,同意,请求,指示和其他交流应递送至以下地址或传真号码:

 

If to the Company:

若至公司:

 

China Ginseng Holdings, Inc.

 

中国人参控股有限公司

 

with copies (which
shall not constitute notice) to:

同时复印件(不构成通知)寄至:

 

Hunter Taubman Fischer
LLC

1450 Broadway, 26th
Floor

New York, New York
10018

 

If to Purchaser:  

NO.7,8,
F/2 of NO.9, F/1 of NO.10, Jinqiao Garden,Chenghe Road, 

Yunyang
Jiedao,Danyang City. China

丹阳市云阳街道城河路金虹花园7号、8号、9号二层、10号一层

Tel. No.: ______________________

Fax No: _______________________

 

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Any party hereto
may from time to time change its address for notices by giving at least ten (10) days written notice of such changed address to
the other party hereto.

任何当事方可时常更改通知所用的地址,但需提前十(10)天以书面形式告知另一方。

 

Section 7.5Waivers.
No waiver by any party of any default with respect to any provision, condition or requirement of this Agreement shall be deemed
to be a continuing waiver in the future or a waiver of any other provisions, condition or requirement hereof, nor shall any delay
or omission of any party to exercise any right hereunder in any manner impair the exercise of any such right accruing to it thereafter.

第7.5节
豁免。任何一方关于对某一条款,条件或要求违约的豁免不能视为未来或对其他条款,条件或要求的豁免。

 

Section 7.6Headings.
The section headings contained in this Agreement (including, without limitation, section headings and headings in the exhibits
and schedules) are inserted for reference purposes only and shall not affect in any way the meaning, construction or interpretation
of this Agreement. Any reference to the masculine, feminine, or neuter gender shall be a reference to such other gender as is appropriate.
References to the singular shall include the plural and vice versa.

第7.6节编号。此协议中的编号(包括但不限于各节编号以及附表和清单中的编号)仅是出于引用方便的考虑,不影响此协议的释义,解释或理解。任何分性别或不分性别的指代都应包括所有性别的指代。任何单数名词包应包括其相对应的复数名词,反之亦然。

 

Section 7.7Successors
and Assigns. This Agreement may not be assigned by a party hereto without the prior written consent of the Company or the Purchaser,
as applicable, provided, however, that, subject to federal and state securities laws, a Purchaser may assign its
rights and delegate its duties hereunder in whole or in part to an affiliate or to a third party acquiring all or substantially
all of its Debentures in a private transaction without the prior written consent of the Company or the other Purchaser, after notice
duly given by such Purchaser to the Company provided, that no such assignment or obligation shall affect the obligations
of such Purchaser hereunder and that such assignee agrees in writing to be bound, with respect to the transferred securities, by
the provisions hereof that apply to the Purchaser. The provisions of this Agreement shall inure to the benefit of and be binding
upon the respective permitted successors and assigns of the parties. Nothing in this Agreement, express or implied, is intended
to confer upon any party other than the parties hereto or their respective successors and assigns any rights, remedies, obligations
or liabilities under or by reason of this Agreement, except as expressly provided in this Agreement.

第7.7节继承者和子实体。若未获得公司和购买人的事前书面同意,各当事方公司不得转让本协议;但是,依据联邦和州的证券法或交易文件所述,在未获得公司或其他购买人的事前书面同意下,但此购买人告知公司之后,购买人可向附属机构或在非公开交易中收购了其全部或基本全部债券的第三方转让其全部或部分权利及义务;但是,此权利或义务的转让会影响此购买人在协议下的义务,此受转让者书面同意就被转让的证券以及接受此协议中适用于此购买人的条款的约束力。此协议的条款对允许的各继承者和子实体具有约束力。除在此协议中明示之外,此协议的条款,明示或暗含的,都不赋予除协议中的当事方及其各自的继承者和子实体任何权利,救济,义务或责任。

 

    	39

    	 

    

 

Section 7.8No
Third Party Beneficiaries. This Agreement is intended for the benefit of the parties hereto and their respective permitted
successors and assigns and is not for the benefit of, nor may any provision hereof be enforced by, any other person.

第7.8节无第三方受益人。此协议的订立是为了此协议双方及其认可的继承者和子实体的权益,任何其他人不得执行此协议,此协议也不为其他人的权益服务。

 

Section 7.9Governing
Law. This Agreement shall be governed by and construed in accordance with the internal laws of the State of New York, without
giving effect to any of the conflicts of law principles which would result in the application of the substantive law of another
jurisdiction. This Agreement shall not be interpreted or construed with any presumption against the party causing this Agreement
to be drafted.

第7.9节适用法律。此协议应根据纽约州的州内法执行和解释,但不包括任何可能导致适用非纽约州实体法的冲突法。此协议不适用“对起草人不利”的原则。

 

Section 7.10Survival.
The representations and warranties of the Company and the Purchaser shall survive the execution and delivery hereof and the Closing
hereunder for a period of three (3) years following the Closing Date.

第7.10节存续。公司和购买人的保证与陈述在此协议签署和送达后继续有效,有效期为交割日之后的三年。

 

Section 7.11Counterparts.
This Agreement may be executed in any number of counterparts, each of which when so executed shall be deemed to be an original
and, all of which taken together shall constitute one and the same Agreement and shall become effective when counterparts have
been signed by each party and delivered to the other parties hereto, it being understood that all parties need not sign the same
counterpart. In the event that any signature is delivered by facsimile transmission, such signature shall create a valid binding
obligation of the party executing (or on whose behalf such signature is executed) the same with the same force and effect as if
such facsimile signature were the original thereof.

第7.11节副本。此协议可在多个副本上签署,每一份副本都可视为原件,所有副本都可视为同一协议并且在各方签署并送达本协议另一方时生效,当事方无需签署每一份副本。若签名是通过传真发送,此传真签名对签署方的约束力与将此传真签名视为原件的约束力相同

 

Section 7.12Publicity.
The Company agrees that it will not disclose, and will not include in any public announcement, the name of the Purchaser without
the consent of the Purchaser unless and until such disclosure is required by law or applicable regulation, and then only to the
extent of such requirement.

第7.12节公开性。公司同意,在未证的购买人同意的情况下,不披露,也不再任何公告中包括购买人姓名,除非法律或相关法规要求此类披露,但仅在要求的范围之内。

 

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Section 7.13Severability.
The provisions of this Agreement are severable and, in the event that any court of competent jurisdiction shall determine that
any one or more of the provisions or part of the provisions contained in this Agreement shall, for any reason, be held to be invalid,
illegal or unenforceable in any respect, such invalidity, illegality or unenforceability shall not affect any other provision or
part of a provision of this Agreement and such provision shall be reformed and construed as if such invalid or illegal or unenforceable
provision, or part of such provision, had never been contained herein, so that such provisions would be valid, legal and enforceable
to the maximum extent possible.

第7.13节可分割性。此协议中的条款具有可分割性,若具有适格管辖权的法院判定此协议和交易文件中的任意条款无效,不合法或不可执行,其他条款的效力不受影响,并且在解释此有效条款时,应将无效的条款视为不存在,以便有效条款能在最大程度上被执行。

 

Section 7.14Further
Assurances. From and after the date of this Agreement, upon the request of any Purchaser or the Company, each of the Company
and the Purchaser shall execute and deliver such instrument, documents and other writings as may be reasonably necessary or desirable
to confirm and carry out and to effectuate fully the intent and purposes of this Agreement.

第7.14条将来的保证。在此协议签署之后,应任何购买人或公司的要求,公司或购买人应签署并送达此类文书,文件及其他合理的必需的或需要的文档;这些文档是为了确认和执行并充分的完成此协议。

 

Section 7.15Currency.
Unless otherwise indicated, all dollar amounts referred to in this Agreement are in United States Dollars. All amounts owing under
this Agreement shall be paid in US dollars. All amounts denominated in other currencies shall be converted in the US dollar equivalent
amount in accordance with the Exchange Rate on the date of calculation. “Exchange Rate” means, in relation to any amount
of currency to be converted into US dollars pursuant to this Agreement, the US dollar exchange rate as published in The Wall Street
Journal on the relevant date of calculation.

第7.15节货币。除特别注明,此协议中的所有金额单位都为美国美元。此协议中的数额都应用美国美元支付。所有已其他货币表示的金额都应以计算当日的汇率换算为以美国美元为单位的数额。在此协议中涉及到将任何数额的货币转换成以美国美元为单位中的“汇率”指《华尔街日报》在计算当日公布的美元汇率。

 

Section 7.16Termination.
This Agreement may be terminated prior to Closing:

第7.16节终止。此协议可在交割前终止:

 

(a)by mutual written agreement
of the Purchaser and the Company, (the; and

购买人和公司双方书面同意;且

 

(b)by the Company or a Purchaser
(as to itself but no other Purchaser) upon written notice to the other, if the Closing shall not have taken place by 5:00 p.m.
Eastern time on July 22, 2015, unless extended for a period of no more than thirty (30) calendar days by the Company, in which
case the Closing shall not have taken place by 5:00 p.m. Eastern time on August 22, 2015; provided, that the right to terminate
this Agreement under this Section 7.16(b) shall not be available to any Person whose failure to comply with its obligations under
this Agreement has been the cause of or resulted in the failure of the Closing to occur on or before such time.

若在2015年7月22日东部时间下午五点前未完成交割(若公司将此交割推迟不晚于三十(30)日历日,则在2015年8月22日东部时间下午五点为完成交割),则公司或单个购买人(仅指此一个而不包括其他购买人)以书面通知告知另一方,;前提是,若因某人任何未能履行其在此协议下的义务而导致无法完成交割,则此人不享有第7.16节(b)中终止协议的权利。

 

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(c)In the event of a termination
pursuant to Section 7.16(a) or 7.16(b), each Purchaser shall have the right to a return of up to its entire Purchase Price pursuant
to this Agreement, without interest or deduction. The Company covenants and agrees to return the Purchase Price.

若发生第7.16节(a)或(b)中的终止,各购买人有权要求退还存于第三方托管人处的款项(不包含利息或扣除),最高不超过其购买价格。公司同意与此购买人协作获取此退款,不得向第三方托管人发出与此相反的指示。

 

 

Section 7.17. Language.
The Agreement is in English only; the Chinese language herein is merely for reference purpose for the Purchaser. If there is any
conflict between the English and Chinese language, English language prevails.

语言。本协议仅为英文版本,中文版本仅购买人参考之用,如有冲突,以英文本为准。

 

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IN WITNESS WHEREOF,
the parties hereto have caused this Agreement to be duly executed by their respective authorized officer as of the date first above
written.

在此双方确认和签署。

 

	The Company:	CHINA
GINSENG HOLDINGS, INC.

中国人参控股有限公司
	 	 
	 	By:	/s/ Changzhen Liu
	 	
        Name: Changzhen Liu 刘长桢

        Title: Chief Executive Officer 首席执行官

 

    	43

    	 

    

 

 

Purchaser Signature Page

购买人签字页

 

IN WITNESS WHEREOF,
the Purchaser has caused this Agreement to be duly executed individually or by its authorized officer or member as of the date
first above written.

 

购买人在此确认和同意协议的条款,并有效签署该协议

The Purchaser:

购买人 

 

	 	DANYANG YOUDE HEALTHCARE CONSULTING CO., LTD.
	 	丹阳优德健康管理咨询有限公司
	 	 	 
	 	By:	/s/ Guoqin Yin
	 	 	Name: Guoqin Yin 殷国勤
	 	 	Title: Chairman 董事长

 

Address and Contacts of Purchaser 购买人的地址和联系方式
:

NO.7,8, F/2 of NO.9, F/1 of NO.10, Jinqiao Garden,Chenghe
Road, Yunyang Jiedao,Danyang City.

丹阳市云阳街道城河路金虹花园7号、8号、9号二层、10号一层

 

Telephone (电话): ____________

 

Fax (传真): ________________

Email (电邮) : _________________

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EXHIBIT A TO THE

SECURITIES PURCHASE AGREEMENT

 

NON U.S. PERSON REPRESENTATIONS

非美国人声明

Each Purchaser indicating that it is not a U.S. person,
severally and not jointly, further represents and warrants to the Company as follows:

各购买者表明其不是美国人,分别地并非联合地,进一步向公司声明和保证如下:

	 	1.	At the time of (a) the offer by the Company and (b) the acceptance of the offer by such person or entity, of the Debentures, such person or entity was outside the United States.

在(a) 公司提出债券的要约时,及
(b) 此人或企业接受要约时,此人或企业在美国境外。

	 	2.	Such person or entity is acquiring the Debentures for such Shareholder’s own account, for investment and not for distribution or resale to others and is not purchasing the Debentures for the account or benefit of any U.S. person, or with a view towards distribution to any U.S. person, in violation of the registration requirements of the Securities Act.

此人或企业购买债券是为其自身投资用途,而并非为了分发或销售给他人,且购买股票并非为了任何美国人的利益,或打算违反证券法的注册要求分发给任何美国人。

	 	3.	Such person or entity will make all subsequent offers and sales of the Debentures either (x) outside of the United States in compliance with Regulation S; (y) pursuant to a registration under the Securities Act; or (z) pursuant to an available exemption from registration under the Securities Act. Specifically, such person or entity will not resell the Debentures to any U.S. person or within the United States prior to the expiration of a period commencing on the Closing Date and ending on the date that is one year thereafter (the “Distribution Compliance Period”), except pursuant to registration under the Securities Act or an exemption from registration under the Securities Act.

此人或企业购买和出售债券会(x)根据规则S在美国境外进行;(y)
根据证券法下的登记注册书;或(z) 根据证券法可以适用豁免。特别是,从交割结算日开始后一年内(“分销特定期限”),此人或企业不得向任何美国个体出售或在美国境内出售,除非是根据证券法下的登记注册申请书或登记豁免进行出售。 

 

    	45

    	 

    

	 	4.	Such person or entity has no present plan or intention to sell the Debentures in the United States or to a U.S. person at any predetermined time, has made no predetermined arrangements to sell the Debentures and is not acting as a Distributor of such securities.

此人或企业目前没有任何计划或准备在任何预定的期限内在美国境内或向美国人出售债券,也没有任何预定的安排出售债券或作为证券的分销商。

	 	5.	Neither such person or entity, its Affiliates nor any Person acting on behalf of such person or entity, has entered into, has the intention of entering into, or will enter into any put option, short position or other similar instrument or position in the U.S. with respect to the Debentures at any time after the Closing Date through the Distribution Compliance Period except in compliance with the Securities Act.

此人或企业,关联人或任何代表人,没有签订或有意图在分销特定期限内在美国签订或会签订关于债券的任何卖方期权、短线持有或任何类似的工具或持有,

	 	6.	Such person or entity consents to the placement of a legend on any certificate or other document evidencing the Debentures substantially in the form set forth in Section 5.1.

此人或企业同意在任何债券证书或其他债券证明文件上根据第5.1条的格式印上限制交易。

	 	7.	Such person or entity is not acquiring the Debentures in a transaction (or an element of a series of transactions) that is part of any plan or scheme to evade the registration provisions of the Securities Act.

此人或企业目前没有购买任何规避证券法登记条款的交易计划或设计中的股票。

	 	8.	Such person or entity has sufficient knowledge and experience in finance, securities, investments and other business matters to be able to protect such person’s or entity’s interests in connection with the transactions contemplated by this Agreement.

此人或企业有充分的金融、证券、投资和其他商业知识和经验来保护本交易中自己的利益。

	 	9.	Such person or entity has consulted, to the extent that it has deemed necessary, with its tax, legal, accounting and financial advisors concerning its investment in the Debentures.

此人或企业在其认为必要的范围内就投资购买债券咨询了其税收、法律、会计和融资顾问。

	 	10.	Such person or entity understands the various risks of an investment in the Debentures and can afford to bear such risks for an indefinite period of time, including, without limitation, the risk of losing its entire investment in the Debentures.

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此人或企业明白作此投资的各种风险并且有能力在不确定的时间内承担这些风险,包括但不限于,完全损失掉其在债券中的投资。

	 	11.	Such person or entity has had access to the Company’s publicly filed reports with the SEC and has been furnished during the course of the transactions contemplated by this Agreement with all other public information regarding the Company that such person or entity has requested and all such public information is sufficient for such person or entity to evaluate the risks of investing in the Debentures.

此人或企业有途径获得公司向证监会申报的所有报表,而且在交易的过程中在其要求的前提下公司提供了其他公共信息,所有这些公共信息对于该人或企业评估投资风险是充分的。

	 	12.	Such person or entity has been afforded the opportunity to ask questions of and receive answers concerning the Company and the terms and conditions of the issuance of the Debentures.

此人或企业有机会就公司和投资债券发行的条件和规定提问和获得解答。

	 	13.	Such person or entity is not relying on any representations and warranties concerning the Company made by the Company or any officer, employee or agent of the Company, other than those contained in this Agreement.

此人或企业没有依赖公司或任何管理人员、员工或代理在本协议之外所做的关于公司的任何陈述和保证。

	 	14.	Such person or entity will not sell or otherwise transfer the Conversion Shares unless either (A) the transfer of such securities is registered under the Securities Act or (B) an exemption from registration of such securities is available.

此人或企业不会出售或转让可转换普通股票,除非(A) 这些可转普通股的转让已依据证券法登记注册或(B)可以适用登记注册豁免。

	 	15.	Such person or entity represents that the address furnished on its signature page to this Agreement is the principal residence if he is an individual or its principal business address if it is a corporation or other entity.

此人或企业在签字页提供的地址是其主要住所地(如其为个人)或主要营业地(如其为公司或其他实体)。

	 	16.	Such person or entity understands and acknowledges that the Debentures have not been recommended by any federal or state securities commission or regulatory authority, that the foregoing authorities have not confirmed the accuracy or determined the adequacy of any information concerning the Company that has been supplied to such person or entity and that any representation to the contrary is a criminal offense.

此人或企业了解并认同投资债券没有经任何联邦或州的证监会或监管机构推荐,以下机构也没有确认或决定过提供给此人或企业的公司的信息的准确性;与此相反的情况将构成刑事犯罪。

 

    	47

    	 

    

 

EXHIBIT B

WIRING INFORMATION

汇款信息

 

 

 

48Exhibit 10.2

 

NEITHER THE OFFER NOR SALE OF THE
SECURITIES REPRESENTED BY THIS DEBENTURE HAS BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, (THE “1933 ACT”).
THE SECURITIES MAY NOT BE SOLD, TRANSFERRED OR ASSIGNED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES
UNDER THE 1933 ACT, OR AN OPINION OF COUNSEL, IN FORM, SUBSTANCE AND SCOPE CUSTOMARY FOR OPINIONS OF COUNSEL IN COMPARABLE TRANSACTIONS,
THAT REGISTRATION IS NOT REQUIRED UNDER THE 1933 ACT OR UNLESS SOLD PURSUANT TO RULE 144 UNDER THE 1933 ACT.

此证书代表的证券没有在修订的1933年证券法(“1933年美国证券法”)或任何州证券法下登记。此证券不可出售、转让或抵押,除非其已根据有效的证券登记申请表进行登记
或取得法律意见书说明其不需要根据美国证券法进行登记或者可以根据1933年美国证券法下的144规则进行销售。

 

CHINA GINSENG HOLDINGS INC.

中国人参控股有限公司

 

Series A CONVERTIBLE DEBENTURE

A系列可转换债券

 

DUE: July 21, 2018

到期日:2018年7月
20 日

  

	No. 0001	July21,
    2015 (the "Issuance Date")
	编号:0001	2015年7月21日 (“发行日”)

 

	$1,600,000	New York, New York
	一百六十万美元	纽约州,纽约市

 

FOR VALUE RECEIVED,
the undersigned, CHINA GINSENG HOLDINGS, INC. (herein called the “Company”), a Nevada corporation, promises
to pay to the order of _Danyang Youde Healthcare Consulting Co., Ltd, or his or its registered assigns (the “Holder”
or “Holders”), the principal sum of one million and six hundred thousand (US$ 1,600,000 ),
as such amount is reduced pursuant to the terms hereof pursuant to redemption, conversion or otherwise (the “Principal”),
on July 20, 2018 (the “Maturity Date”).

据已讫金额,下列签署人,中国人参控股有限公司.(“公司”),根据内华达州法律设立并存续,承诺于2018年7月20日(“期满日”)付予丹阳优德健康管理咨询有限公司或其注册的受让人(“持有人”)总额为
一百六十万 美元的本金 (US$ 160,0000 )。

 

    	1

    	 

    

 

1.             Securities Purchase Agreement.
This Debenture has been issued pursuant to the terms and conditions set forth in the Securities Purchase Agreement dated as of
July 21, 2015 by and among the Company and, inter alia, the Holder, (as from time to time amended, the “Securities Purchase
Agreement”). All of the terms and conditions of such Securities Purchase Agreement are incorporated herein by this reference,
and all capitalized terms not separately defined in this Debenture, shall have the same meanings as defined in the Securities Purchase
Agreement.

证券购买合同。此债券是根据公司与各购买人于2015年7月21日签署的证券购买合同(并经时不时的修正,“证券购买合同”)下的条款和条件发行的。证券购买合同下的所有条款和条件都参引合并于此,并且在本债券证书未被另行定义但已使用的黑体字词具有与其在证券购买合同中相同的释义。

 

2.             Debenture.
Payments of principal of, and interest on, this Debenture are to be made in lawful money of the United States of America at
such place as provided in the Securities Purchase Agreement. This Debenture is one of the Series A Convertible Debentures
(herein called the “Debentures”) issued pursuant to the Securities Purchase Agreement, and is subject to
other terms as set forth in the Securities Purchase Agreement.

债券。此债券的本金和利息应通过美国的合法金钱在证券购买合同中规定的地方支付。此债券是根据证券购买合同发行的可转换债券(“债券”)之一,并且受证券购买合同下其他条款所限制。

 

3.             Intentionally Left Blank.
有意留空。

 

4.             Prepayment.
Following the twelve (12) month anniversary of the Closing Date, Company shall have the right to prepay this Debenture in
full or any portion of the then outstanding principal balance prior to the Maturity Date, provided that the Company give
written notice to the Purchasers at least ten (10) business days before the prepayment and; provided further that Purchasers
may during five (5) business days of receipt of such notice elect to convert the Debentures in accordance with their terms
set forth herein, although such conversion shall not be effective until sixty-one (61) days following the date of
Purchasers’ notice of election.

提前付款。债券发行交割后的第十二(12)个月,只需在此之前十(10)个工作日书面通知即可,公司有权选择按本金提前支付所有债券本金余额,在收到书面通知的五个工作日之内,持有者有权选择根据相关条款的规定将债券转换成普通股,但是该转换将于做出选择的六十一(61)天后正式生效。

 

    	2

    	 

    

 

		5.	Conversion into Common Stock

转换为普通股

 

a.            General.

一般条款

 

(i)           Conversion
into Common Stock. Subject to the provisions of Section 5(a)(iii) and 5(e), on any one or more occasions on or
after the date hereof, the Holder shall be entitled to convert any portion of the outstanding and unpaid Conversion Amount (as
defined below) into fully paid and non-assessable shares of common stock of the Company, par value $0.001 per share (the “Common
Stock”), or any shares of capital stock or other securities of the Company into which such Common Stock shall hereafter be
changed, exchanged or reclassified in accordance with Section 5(c), at the Conversion Rate (as defined below) then in effect. The
Company shall not issue any fraction of a share of Common Stock upon any conversion. If the issuance would result in the issuance
of a fraction of a share of Common Stock, the Company shall round such fraction of a share of Common Stock up to the nearest whole
share. The Company shall pay any and all transfer, stamp and similar taxes that may be payable with respect to the issuance and
delivery of Common Stock upon conversion of any Conversion Amount. Any such conversion set forth in a conversion notice dated prior
thereto, shall be deemed to be effective as of the date of such conversion notice (the “Conversion Date”).

转换为普通股。根据第五条(a)(iii)
以及(e)的相关规定,此债券的持有人在任何时间或时不时都有权力转换此债券的未付本金及任何累积且未付利息(下文将定义)的全部或部分为全额支付及不可催缴的公司票面值为$0.001美元/股的普通股(“普通股”)普通股,或者根据第五条(c)中规定的同等价值的被改变,交换或重新分类的公司其他股本或证券,按相应的转换比例(下文将定义)转换。所有在注明日期的转股声明中所列的转股都被认为是在转股声明所注之日生效。在任何转股过程中公司不可发行一股普通股的一部分。如果转股的过程中,不可避免有分数股的情况,公司应该根据分数上浮到最近的一股。公司应当支付所有跟转股发行和传送相关的所有过户费用,邮寄费用和相关税费。在转股通知中所设立的日期,将被视为转换日期(“转换日期”)。

 

(ii)          Conversion
Rate. The number of shares of Common Stock issuable upon conversion of any Conversion Amount pursuant to Section 5(a) shall
be determined by dividing (x) such Conversion Amount by (y) the Conversion Price (the “Conversion Rate”). The Conversion
Amount shall be subject from time to time to adjustment as described below.

转换比例。转换后发行的普通股数目由第5(a)条款所定义的转换数量决定,即用转换数量(x)除以转换价格(y)(“转换比例”)。转换数量将时不时根据下面的规定进行调整。

 

1.       “Conversion
Amount” means the sum of (A) the portion of the Principal to be converted, amortized, redeemed or otherwise with respect
to which this determination is being made, and (B) any accrued and unpaid Interest.

“转换数量”是指(A)本金中需被转换的那部分或者持有人需兑现的部分和(B)任何累积的切未付的利息之和。

 

2.       “Conversion
Price” means, as of any Conversion Date (as defined below) or other date of determination, $0.40 per share, subject to
adjustment as provided herein.

“转换价格”是指在转换日(下文定义)或任何其他决定的日期,以0.40美元每股,受限于本文提及的调整。

 

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(iii)         Conversion
Limit. Notwithstanding anything to the contrary set forth in this Debenture, at no time may a Holder of this Debenture convert
this Debenture into Common Stock if the number of shares of Common Stock to be issued pursuant to such conversion would cause the
number of shares of Common Stock owned by such Holder at such time to exceed, when aggregated with all other shares of Common Stock
owned by such Holder and its affiliates at such time, the number of shares of Common Stock which would result in such Holder, its
affiliates, any investment manager having discretionary investment authority over the accounts or assets of such Holder, or any
other persons whose beneficial ownership of Common Stock would be aggregated with such Holder’s for purposes of Section 13(d)
and Section 16 of the 1934 Act, beneficially owning (as determined in accordance with Section 13(d) of the 1934 Act and the rules
thereunder) in excess of 9.99% of the then issued and outstanding shares of Common Stock (the "Holder Cap").

转股限制。根据1934年证券交易法下第13(d)节及第16节法规所规定,即使跟本债券其他条款相冲突,在任何情况下,如果转换后将要发行的股票数目会导致持有人或其关联人,对持有人资产具有自主性交易权利的投资经理,实质性持有的股票超过公司已发行普通股的9.99%
(“持有者上限”),则持有人不允许转换超过限额部分的债券。此协议中所提及的实质性所有权由1934年证券交易法下第13(d)节法规所定义。

 

(iv)         Effect
of Conversion. Upon conversion of this Debenture in full in the manner provided by this Section 5 (c) below, this Debenture
shall be deemed fully satisfied and cancelled.

转换生效。根据第五节(c)
中的规定,该债券完全转换为普通股后,该债券将被视为已满足条件偿还,被取消。

 

b.           Authorized
Shares. The Company covenants that during the period the conversion right exists, the Company will reserve from its authorized
and unissued Common Stock, free from preemptive rights, to provide for the issuance of 110% of the number of shares of Common Stock
upon the full conversion of the Holder’s Debenture and the other Debentures issued pursuant to the Securities Purchase Agreement
(the “Reserved Amount”). If the Company shall issue any securities or make any change to its capital structure which
would change the number of shares of Common Stock into which the Debentures shall be convertible at the then current Conversion
Price, the Company shall at the same time make proper provision so that thereafter there shall be a sufficient number of shares
of Common Stock authorized and reserved, free from preemptive rights, for conversion of the outstanding Debentures. The Company
(i) acknowledges that it has irrevocably authorized by its Board of Directors to issue certificates for the Common Stock issuable
upon conversion of the Holder’s Debenture, and (ii) agrees that its issuance of the Holder’s Debenture shall constitute
full authority to its officers and agents who are charged with the duty of executing stock certificates to execute and issue the
necessary certificates for shares of Common Stock in accordance with the terms and conditions of the Holder’s Debenture.

核准发行的股票。公司允诺在转股权存在期间内,公司会从其核准发行但未发行的普通股中保留110%于以涵括持有人转换全部债券和根据此协议发行的其他债券可发行的普通股(“保留股份数目”)。如果公司发行任何证券或改变其股权结构,导致根据目前的转换价格债券可以转换成的普通股的数目发生变化,则公司应该同时制定适当的条款使从那之后有足够数目的核准发行及保留的普通股,不受制于优先购买权,以涵括债券可以转换成的普通股的数目。公司
(i) 声明经公司董事会不可撤回授权批准,在转换债券的情况下,公司将向持有人签发普通股股权证书,且
(ii)同意其向持有人发行的债券包含了向负责签发普通股股权证书的管理人员和代理人授以十足的相关权力。

 

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c.            Method of
Conversion.

转换方法。

 

(i)           Mechanics
of Conversion. Subject to Section 5(a), the Holder’s Debenture may be converted by the Holder in whole or in part, by
(i) submitting to the Company a conversion notice (by facsimile or other reasonable means of communication dispatched on the Conversion
Date prior to 6:00 p.m., New York, New York time) and (ii) subject to Section 5(c)(ii), surrendering the Holder’s Debenture
at the principal office of the Company.

转换手续。受第5(a)节限制,持有人的债券可以全部或部分转换,手续是:(i)
向公司提交转股通知(通过传真或其他可知会公司的方式在转股日的纽约时间下午6点前送达)和
(ii) 受第5(c)(ii)节限制,向公司的主要办公地点交出持有人的债券证书。

 

(ii)          Surrender
of Debenture Upon Conversion. Notwithstanding anything to the contrary set forth herein, upon conversion of the Holder’s
Debenture in accordance with the terms hereof, the Holder shall not be required to physically surrender the Holder’s Debenture
to the Company unless the entire unpaid principal amount of the Holder’s Debenture is so converted. The Holder and the Company
shall maintain records showing the principal amount so converted and the dates of such conversions or shall use such other method,
reasonably satisfactory to the Holder and the Company, so as not to require physical surrender of the Holder’s Debenture
upon each such conversion. In the event of any dispute or discrepancy, such records of the Company shall be controlling and determinative
in the absence of manifest error. Notwithstanding the foregoing, if any portion of the Holder’s Debenture is converted as
aforesaid, the Holder may not transfer the Holder’s Debenture unless the Holder first physically surrenders the Holder’s
Debenture to the Company, whereupon the Company will forthwith issue and deliver upon the order of the Holder a new Debenture
of like tenor, registered as the Holder (upon payment by the Holder of any applicable transfer taxes) may request, representing
in the aggregate the remaining unpaid principal amount of the Holder’s Debenture. The Holder and any assignee, by acceptance
of the Holder’s Debenture, acknowledge and agree that, by reason of the provisions of this paragraph, following conversion
of a portion of the Holder’s Debenture, the unpaid and unconverted principal amount of the Holder’s Debenture represented
by the Holder’s Debenture may be less than the amount stated on the face hereof.

转股后交还债券证书。尽管有上述规定,持有人不必向公司交回债券证书本身,除非转换了全部未付清的债券金额。持有人与公司应当记录每次转换的债券金额以及日期,或使用其他持有人和公司认为满意的记录方式,以致不需每次转换债券都要向公司交回债券证书本身。在有争议和记录有出入的情况下,如果公司的记录没有明显错误则以公司的记录为准。虽然有上述规定,如果持有人转换了部分债券,持有人不能转让剩余的债券,除非其将债券证书交还给公司,然后公司会根据持有人的要求签发新的债券证书(持有人需支付因转让产生的相关税款)以代表剩余没有支付的债券。持有人和其指定人员在收到债券以后,承认并同意在转换了部分债券以后,实际的未付的或未转换的本金数目将会比该债券的面值要少。

 

(iii)         Delivery
of Common Stock Upon Conversion. Upon receipt by the Company from the Holder of a facsimile transmission (or other reasonable
means of communication) of a conversion notice meeting the requirements for conversion as provided in this Section 5(c), the Company
shall issue and deliver or cause to be issued and delivered to or upon the order of the Holder certificates for the Common Stock
issuable upon such conversion within three (3) Business Days (such third Business Day being hereinafter referred to as the “Deadline”)
in accordance with the terms hereof and the Securities Purchase Agreement.

转股后普通股的递送。当公司收到持有人以传真的方式(或其他合理的联系方式)提供的符合第5(c)节要求的转股通知,公司应当在三(3)个工作日内(第三个工作日成为“截止日期”)根据证券购买合同签发并递送转股后的普通股股权证书。

 

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(iv)          Obligation
of Company to Deliver Common Stock. Upon delivery by the Holder to the Company of a Conversion notice, the Holder shall be
deemed to be the Holder of record of the Common Stock issuable upon such conversion, the outstanding principal amount and the
amount of accrued and unpaid interest on that portion of the Holder’s Debenture being converted shall be reduced to reflect
such conversion, and, unless the Company defaults on its obligations under this Section 5, all rights with respect to the portion
of the Holder’s Debenture being so converted shall forthwith terminate except the right to receive the Common Stock or other
securities, cash or other assets, as herein provided, on such conversion. If the Holder shall have given a conversion notice as
provided herein, the Company’s obligation to issue and deliver the certificates for Common Stock shall be absolute and unconditional,
irrespective of the absence of any action by the Holder to enforce the same, any waiver or consent with respect to any provision
thereof, the recovery of any judgment against any Person or any action to enforce the same, any failure or delay in the enforcement
of any other obligation of the Company to the Holder of record, or any setoff, counterclaim, recoupment, limitation or termination,
or any breach or alleged breach by the Holder of any obligation to the Company, and irrespective of any other circumstance which
might otherwise limit such obligation of the Company to the Holder in connection with such conversion. The Conversion Date specified
in the conversion notice shall be the Conversion Date so long as the conversion notice is received by the Company before 6:00
p.m., New York, New York time, on such date.

公司递送普通股的责任。当持有人向公司送达转股通知时,持有人被认为是转股后可得普通股的持有人,其债券的未付本金及累积和未付利息应当相应减少以反映转股的发生;以及,除非公司未能履行第5节下的义务,所有被转换部分的债券相关的权利应当终止,除了根据转股能够得到普通股或其他证券、现金或其他资产的权利。一旦持有人给了转股通知,公司签发及递送普通股股权证书的责任将是绝对的和无条件的,无论持有人有无行动去使其执行,有无对于任何规定的弃权或同意,有无对任何人的诉讼追偿,公司有无对持有人实施义务的未执行或拖延,持有人对公司有无任何质押权、反诉、扣除、限制或终止、或任何违约或声称违约,以及无论有无其他可能与此转股有关的可能限制公司对持有人这项责任的情况。转股通知中所列的日期是转股日期,只要此转股通知于当天纽约时间下午6:00之前送达于公司。

 

(v)          Pro Rata
Conversion; Disputes. In the event that the Company receives a Conversion Notice from more than one holder of Debentures for
the same Conversion Date and the Company can convert some, but not all, of such portions of the Debentures submitted for conversion,
the Company, subject to Section 5(a)(iii) and 5(e), shall convert from each holder of Debentures electing to have Debentures converted
on such date a pro rata amount of such holder’s portion of its Debentures submitted for conversion based on the principal
amount of Debentures submitted for conversion on such date by such holder relative to the aggregate principal amount of all Debentures
submitted for conversion on such date. In the event of a dispute as to the number of shares of Common Stock issuable to the Holder
in connection with a conversion of this Debenture, the Company shall issue to the Holder the number of shares of Common Stock not
in dispute and resolve such dispute in accordance with Section 19.

按比例转换:争议。当公司在同一个转换日期收到多余一份债券的转换通知,公司可以转换部分,但不是全部被要求转换的债券。公司应当根据第5(a)和5(e)节的要求,结合当日收到转换债券的总数,按照比例为每位债券持有者转换相应比例的债券。如果公司应该发行相应的股数,以保证发行的股数将不于第19节的要求相冲突。如果公司与持有人就应转换的普通股股权数额有争议,公司应该就无争议的部分先发行普通股,有争议的部分根据本债券条款第19条处理。

 

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d.            Certain
Adjustments.

一些调整。

 

(i)           Subdivision
or Combination of Common Stock. If the Company at any time subdivides (by any stock split, stock dividend, recapitalization,
reorganization, reclassification or otherwise) the shares of Common Stock acquirable hereunder into a greater number of shares,
then, after the date of record for effecting such subdivision, the Conversion Price in effect immediately prior to such subdivision
will be proportionately reduced. If the Company at any time combines (by any reverse stock split, recapitalization, reorganization,
reclassification or otherwise) the shares of Common Stock acquirable hereunder into a smaller number of shares, then, after the
date of record for effecting such combination, the Conversion Price in effect immediately prior to such combination will be proportionately
increased.

普通股的分拆或合并。如果公司在任何时候将于此协议下可获得的普通股分拆(通过分股、红利、资本重组、重组、重新分类或其他方式)成更大数目的股份,则,此分拆记录日之后,分拆发生之前的转换价格将会按比例减少。如果公司在任何时候将于此协议下可获得的普通股合并(通过缩股、资本重组、重组、重新分类或其他方式)成更小数目的股份,则此合并记录日之后,合并之前的转换价格将会按比例增加。

 

(ii)          Reclassification,
Exchange, and Substitution.  If at any time or from time to time after the date upon which this Debenture was issued
by the Company (the “ Original Issue Date”), the shares of Common Stock issuable upon the conversion of this
Debenture shall be changed into the same or a different number of shares of any class or classes of stock, whether by recapitalization,
reclassification, reorganization, merger, exchange, consolidation, sale of assets or otherwise, then, in any such event, each
holder of the Debentures shall have the right thereafter to convert such stock into the kind and amount of stock and other securities
and property receivable upon such recapitalization, reclassification, reorganization, merger, exchange, consolidation, sale of
assets, distribution of assets or other change by a holder of the number of shares of Common Stock into which such shares of this
Debenture could have been converted immediately prior to such recapitalization, reclassification, reorganization, merger, exchange,
consolidation, sale of assets, distribution of assets or other change, or with respect to such other securities or property by
the terms thereof.

重新分类,交换和替代。在公司发行债券后(“初始发行日期”)的任何时候或时不时,当此债券已发行且未付清的任何时候,如果有合并、兼并、交换股份、资本重组、重组或其他类似事件,导致公司的普通股变为公司或另一个企业的同样或不同数目的另一类别或几个类别的股票,则此债券的持有人有权在转换债券之后,根据于此所列的基础及条款和条件,获得假设持有人在此事件发生之前就已经转换债券可得的普通股的替代股票、证券或资产。

 

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(iii)         Subsequent
Equity Sales. If, at any time while this Debenture is outstanding, the Company sells or grants any option to purchase or sells
or grants any right to reprice, or otherwise disposes of or issues (or announces any sale, grant or any option to purchase or
other disposition), any Common Stock or Common Stock Equivalents entitling any Person to acquire shares of Common Stock at a price
per share that is lower than the then Conversion Price (such lower price, the “Base Conversion Price” and such
issuances, collectively, a “Dilutive Issuance”) (if the holder of the Common Stock or Common Stock Equivalents
so issued shall at any time, whether by operation of purchase price adjustments, reset provisions, floating conversion, exercise
or exchange prices or otherwise, or due to warrants, options or rights per share which are issued in connection with such issuance,
be entitled to receive shares of Common Stock at a price per share that is lower than the Conversion Price, such issuance shall
be deemed to have occurred for less than the Conversion Price on such date of the Dilutive Issuance), then the Conversion Price
shall be reduced to equal the Base Conversion Price. Such adjustment shall be made whenever such Common Stock or Common Stock
Equivalents are issued. Notwithstanding the foregoing, no adjustment will be made under this Section 5(d)(iii) in respect of an
Exempt Issuance. The Company shall notify the Holder in writing, no later than the Trading Day following the issuance of any Common
Stock or Common Stock Equivalents subject to this Section 5(d)(iii), indicating therein the applicable issuance price, or applicable
reset price, exchange price, conversion price and other pricing terms (such notice, the “Dilutive Issuance Notice”).
For purposes of clarification, whether or not the Company provides a Dilutive Issuance Notice pursuant to this Section 5(d)(iii),
upon the occurrence of any Dilutive Issuance, the Holder is entitled to receive a number of Conversion Shares based upon the Base
Conversion Price on or after the date of such Dilutive Issuance, regardless of whether the Holder accurately refers to the Base
Conversion Price in the Notice of Conversion.

后续股权增发。当此债券已发行且未付清的任何时候,如果公司出售或赠与期权,购买股权的权利,或重新定价的权利,发行(或宣布任何销售,赠与任何购买处置权的权利),能以比转换价格低的价格(这个低价,“基础转换价格”以及这种发行,“摊薄发行”)购买公司普通股,(如果股票或股票等同物的持有者在任何时候享有价格调整,重新定价条款,浮动转换条款,交换价格等权利,或由此发行产生的期权能以低于转换价格获得股票,这样的发行也将被认定为低于转换价格的摊薄发行),则转换价格马上降低到基础转换价格。该调整需在普通股或普通股的等同物发行之时进行。但如果是根据第5(d)(iii)所规定的豁免发行中的情况,则无需进行调整。公司需在股票或股票等同物发行之后的一个交易日之内,根据第5(d)(iii)的规定,书面通知持有人,其通知应包括发行价格,或适用的重新定价后的价格,换股价格,转换价格和其他跟价格相关的条款(该通知成为“摊薄发行通知”)。进一步说明,不管公司是否按照第5(d)(iii)的要求提供摊薄发行通知,持有者都拥有在摊薄发行当日或之后以基础转换价格转换债券成普通股的权利,不论持有人在其转换通知上所引用的基础转换价格是否正确。

 

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(iv)          Subsequent
Rights Offerings. If the Company, at any time while the Debenture is outstanding, shall issue rights, options or warrants
to all holders of Common Stock (and not to the Holders, otherwise than the Company’s employees, consultants and strategic
partners) entitling them to subscribe for or purchase shares of Common Stock at a price per share that is lower than the VWAP
on the record date referenced below, then the Conversion Price shall be multiplied by a fraction of which the denominator shall
be the number of shares of the Common Stock outstanding on the date of issuance of such rights, options or warrants plus the number
of additional shares of Common Stock offered for subscription or purchase, and of which the numerator shall be the number of shares
of the Common Stock outstanding on the date of issuance of such rights, options or warrants plus the number of shares which the
aggregate offering price of the total number of shares so offered (assuming delivery to the Company in full of all consideration
payable upon exercise of such rights, options or warrants) would purchase at such VWAP. Such adjustment shall be made whenever
such rights, options or warrants are issued, and shall become effective immediately after the record date for the determination
of stockholders entitled to receive such rights, options or warrants.

后继共股。如果公司在本债券存在期间的任何时候,向普通股的所有普通股股东(而不是债券持有人,或公司的员工,顾问和战略合作伙伴)发行权益、期权使他们有权以低于记录日加权平均VWAP的价格购买普通股,那么本债券的转股价格应乘以一个比例,该比例的分母为这些权益、期权发行日公司全部流通的普通股的股数加上增发的普通股股数,其分子为这些权益、期权发行日公司全部流通的普通股的股数加上融资中全部购买价格下发行的股票权益下按加权平均VWAP购买的普通股股权数(包括期权可行权股数,权益可转换股数,假设在行权时公司会获得全部的行权对价)。该调整必须在权益、期权发行之时立即做出,并在股东获得各项发行权益、期权时即时生效。

 

(v)           Exceptions
to Adjustment. No adjustment to the Exercise Price shall be effected as a result of an Exempt Issuance. “Exempt Issuance”
shall mean, collectively, (i) the Company’s issuance of securities in connection with strategic license agreements and other
partnering arrangements so long as such issuances are not for the purpose of raising capital and in which holders of such securities
or debt are not at any time granted registration rights; (ii) the Company’s issuance of Common Stock or the issuances or
grants of options to purchase Common Stock to employees, directors, and consultants, pursuant to plans which are constituted on
the date of the initial issuance of this Debenture; (iii) securities issued (other than for cash) in connection with a merger,
acquisition, or consolidation; (iv) securities issued pursuant to the conversion or exercise of convertible or exercisable securities
issued or outstanding on or prior to the date of the Securities Purchase Agreement; (v) any securities, including the Debenture,
Warrants and Performance Warrants, as well as any shares of common stock issued as interest payment on the Debenture, issued pursuant
to the Securities Purchase Agreement (so long as the conversion or exercise price in such securities are not amended to lower
such price and/or adversely affect the Holders); (vi) the shares of Common Stock underlying the Debenture, the Warrants and the
Performance Warrants; (vii) any shares of Common Stock issued as payment of dividends; (viii) any warrants issued to the Placement
Agent or the shares of common stock underlying same, and (ix) shares issued pursuant to a Permitted Financing.

调整的例外事项。以下豁免发行情况下,行权价格将不被调整。“豁免发行”是指,如果(i)因战略许可协议和其他合作安排而发行证券,只要该等发行不以筹集资金为目的,且该证券或债券的所有者任何时候都不将被予以注册权;(ii)因公司通过股权激励计划对公司员工,高管,及顾问发行普通股或发行普通股的买入期权;(iii)由并购,收购或整合所发行的股票而非现金;(iv)因转换或行使在证券购买合同之日或之前已发行的可转换债券或可行使证券而发行证券;(v)
根据证券购买合同所发行的债券,期权和业绩期权,以及因作为债券利息而支付的股票(只要其规定该等证券的转换或行权价格的条款未修订为降低该等价格或对持有人不利);(vi)与债券,期权和业绩期权相对应的普通股;(vii)任何作为股息分红发行的股票;(viii)为完成证券购买合同项下的交易向任何私募代理人及其指定人发行的任何期权,和(ix)由被允许的融资所发行的股份。

 

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(vi)          Calculations.
All calculations under this Section 5 shall be made to the nearest cent or the nearest 1/100th of a share, as the case may be.
For purposes of this Section 5, the number of shares of Common Stock deemed to be issued and outstanding as of a given date shall
be the sum of the number of shares of Common Stock (excluding treasury shares, if any) issued and outstanding.

计算。所有本条款5下的计算应当到股份的百分位。在本条款下,特别特定日期的所有发行流通普通股是指当日所有的发行的并在流通的普通股(不包括保留股份)。

 

(vii)         Notice
of Adjustments. Upon the occurrence of each adjustment or readjustment of the Conversion Price as a result of the events described
in this Section 5(d), the Company, at its expense, shall promptly compute such adjustment or readjustment and prepare and furnish
to the Holder of this Debenture a certificate setting forth such adjustment or readjustment and showing in detail the facts upon
which such adjustment or readjustment is based. Failure to give such notice or any defect therein shall not effect
the legality or validity of the subject adjustment.

调整通知。
如果根据本条款5(d)的规定对转股价格进行调整或再调整,公司在自行承担费用的基础上应及时计算相关的调整或再调整,并准备和向持有人提供一份证明,说明调整或再调整,以及所依据的事实细节和调整依据。公司未提供这样的通知或通知有缺陷并不影响调整本身的合法性或有效性。

 

e.            Intentionally
Left Blank.

有意留空。

 

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f.             Concerning
the Shares. 

与股票有关事项

 

(i)           Legend.
The shares of Common Stock issuable upon conversion of the Debenture may not be sold or transferred unless (A) such shares are
sold pursuant to an effective registration statement under the Securities Act, or (B) the Company or its transfer agent shall have
been furnished with an opinion of counsel (which opinion shall be in form, substance and scope customary for opinions of counsel
in comparable transactions and from an attorney that regularly practices securities law) to the effect that the shares to be sold
or transferred may be sold or transferred pursuant to an exemption from such registration, or (C) such shares are sold or
transferred pursuant to Rule 144 under the Securities Act (or a successor rule) (“Rule 144”), or (D) such shares are
sold or transferred outside the United States in accordance with Rule 904 of Regulation S under the Securities Act, or (E) such
shares are transferred to an “affiliate” (as defined in Rule 144) of the Company who agrees to sell or otherwise transfer
the shares only in accordance with this Section 5(e). Except as otherwise provided in this Agreement (and subject to the removal
provisions set forth below), until such time as the shares of Common Stock issuable upon conversion of the Debenture have been
registered under the Securities Act as contemplated by the Registration Rights Agreement, otherwise may be sold pursuant to Rule
144 without any restriction as to the number of securities as of a particular date that can then be immediately sold, each certificate
for shares of Common Stock issuable upon conversion of the Debenture that has not been so included in an effective registration
statement or that has not been sold pursuant to an effective registration statement or an exemption that permits removal of the
legend, shall bear a legend substantially in the following form, as appropriate:

限售条款。转换持有人的债券可发行的普通股不能出售或转让,除非
(A) 这些股票在证券法下根据有效的证券登记申请表出售,
(B) 法律顾问向公司或其股票过户代理人提供法律意见(此意见书的格式、内容和范围都应与在类似交易中法律顾问出具的意见书相似),说明该证券不需根据证券法登记,
(C) 这些股票可根据证券法(或继任规则)下的144规则(“144规则”)出售,(D)
这些股票可以在美国境外根据证券法下的条例S的904规则出售或转让,或(E)
这些股票转让给公司的“关联人”(如144规则所定义),关联人同意只有在符合此第5(e)节的情况下才出售或转让股票。除非本协议另有说明(并受限于以下的消除条款),直到转换持有人的债券可发行的普通股根据登记权协议在证券法下登记,否则可以根据144规则没有限制地出售于某一日允许出售的数目的股票。如果转换持有人的债券后签发的普通股没有被列于有效的证券登记申请表,或没有根据有效的证券登记申请表出售,或没有可移除限售条款的豁免可适用,则每一张股权证书都应该标注类似下文的限售条款:

 

THE SECURITIES REPRESENTED
HEREBY HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “U.S. SECURITIES ACT”).
THE HOLDER HEREOF, BY PURCHASING SUCH SECURITIES, AGREES THAT SUCH SECURITIES MAY BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED
ONLY (A) TO THE CORPORATION, (B) OUTSIDE THE UNITED STATES IN ACCORDANCE WITH RULE 904 OF REGULATION S UNDER THE U.S.
SECURITIES ACT, (C) WITHIN THE UNITED STATES AFTER REGISTRATION OR IN ACCORDANCE WITH THE EXEMPTION FROM THE REGISTRATION REQUIREMENTS
UNDER THE U.S. SECURITIES ACT PROVIDED BY RULE 144 THEREUNDER, IF APPLICABLE, AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES
LAWS, OR (D) WITHIN THE UNITED STATES IN A TRANSACTION THAT DOES NOT REQUIRE REGISTRATION UNDER THE U.S. SECURITIES ACT OR
ANY APPLICABLE STATE SECURITIES LAWS AND THE HOLDER HAS PRIOR TO SUCH SALE FURNISHED TO THE CORPORATION AN OPINION OF COUNSEL REASONABLY
SATISFACTORY TO THE CORPORATION.

 

此证书代表的证券没有在修订的1933年证券法(“美国证券法”)或任何州证券法下登记。证券持有人不可要约、出售、转让、抵押或以其他方式处置,除非(X)证券登记申请表已生效或(Y)根据以下情况处置(A)对象是公司,(B)
在美国境外,根据美国证券法的S规则(“规则S”)下的904条文以及相应的当地法律法规,(C)在美国境内,根据(1)美国证券法下的144A规则或(2)美国证券法下的144规则或相应的州证券法,或(D)在另一个不需要根据美国证券法或相应的州证券法登记的交易中;但是,在根据以上(C)(2)或(D)处置的情况下,应首先取得公司满意的法律意见书。

 

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(ii)          Removal
of Legend. The legend set forth above shall be removed and the Company shall issue to the Holder a new certificate therefor
free of any transfer legend if (A) the Company or its transfer agent shall have received an opinion of counsel, in form, substance
and scope customary for opinions of counsel in comparable transactions, to the effect that a public sale or transfer of such Common
Stock may be made without registration under the Act and the shares are so sold or transferred, or (B) in the case of the Common
Stock issuable upon conversion of the Holder’s Debenture, such security is registered for sale by the Holder under an effective
registration statement filed under the Securities Act or otherwise may be sold pursuant to Rule 144 without any restriction as
to the number of securities as of a particular date that can then be immediately sold. The Company shall cause its counsel to issue
a legal opinion to the Company’s transfer agent promptly after the effective date of any registration statement under the
Securities Act registering the resale of the Common Stock issuable upon conversion of the Debenture if required by the Company’s
transfer agent to effect the removal of the legend hereunder. Nothing in the Debenture shall (x) limit the Company’s obligation
under the Registration Rights Agreement or (y) affect in any way the Holder’s obligations to comply with applicable prospectus
delivery requirements upon the resale of the securities referred to herein.

限售条款的移除。公司应该移除上述限售条款并签发给持有人新的股权证书,如果
(A) 公司或其股票过户代理人收到格式、内容和范围都与在类似交易中法律顾问出具的意见书相似的法律意见书,说明公开销售或转让这些普通股不需要根据证券法进行注册,或(B)在转换债券发行普通股的情况下,这些证券列于有效的证券登记申请表中,或可以根据144规则没有限制地出售于某一日允许出售的数目的股票。公司应使其法律顾问在证券登记申请表有效后马上向股票过户代理人出具法律意见书以移除限售条款。持有人的债券不应
(x) 限制公司于登记权协议下的义务或 (y)
以任何方式影响持有人遵循招股说明书下规定的出售股票的送达要求。

 

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(g)          Distribution
Of Assets; Rights Upon Issuance Of Purchase Rights And Other Corporate Events.

针对分派的调整;购买权利发行时的权利和其他公司事件。

 

(i)            Distribution
of Assets. If the Company shall declare or make any dividend or other distributions of its assets (or rights to acquire its
assets) to any or all holders of shares of Common Stock, by way of return of capital or otherwise (including without limitation,
any distribution of cash, stock or other securities, property or options by way of a dividend, spin off, reclassification, corporate
rearrangement, scheme of arrangement or other similar transaction) (the “Distributions”), then the Holder will
be entitled to such Distributions as if the Holder had held the number of shares of Common Stock acquirable upon complete conversion
of this Debenture (without taking into account any limitations or restrictions on the convertibility of this Debenture) immediately
prior to the date on which a record is taken for such Distribution or, if no such record is taken, the date as of which the record
holders of Common Stock are to be determined for such Distributions (provided, however, to the extent that the Holder’s right
to participate in any such Distributions would result in the Company exceeding the Exchange Cap, then the Holder shall not be entitled
to participate in such Distribution to such extent (or the beneficial ownership of any such shares of Common Stock as a result
of such Distribution to such extent) and such Distribution to such extent shall be held in abeyance for the benefit of the Holder
until such time, if ever, as its right thereto would not result in the Company exceeding the Exchange Cap).

针对分派的调整。当此债券已发行且未付清的任何时候,如果公司宣布或导致其资产(或其获得资产的权利)作为红利、股份回购、返还股本或其他(包括向公司股东以子公司的现金或股票(或获得股票的权利)的方式发放红利)向普通股股东分派(“分派”),则此债券的持有者有权利在股东有资格取得此分派的记录日之后完成其债券转换并获得资产,假设持有人在此事件发生之日就已经拥有了转换债券可得的普通股因而有资格获得分派,并且其债券将会以分派的合理价格来偿还(如果持有人参与分派会导致公司发行超过交易所的限制,则持有人不得就超过部分(或者其持有的普通股权益比例相应超过交易所限制部分)享有分派权,
当然这部分被搁置的权益在将来公司发行不会产生超过交易所限制的前提下仍可以实行。

 

(ii)           Purchase
Rights. If at any time the Company grants, issues or sells any Options, Convertible Securities or rights to purchase stock,
warrants, securities or other property pro rata to the record holders of any class of Common Stock (the “Purchase Rights”),
then the Holder will be entitled to acquire, upon the terms applicable to such Purchase Rights, the aggregate Purchase Rights which
the Holder could have acquired if the Holder had held the number of shares of Common Stock acquirable upon complete conversion
of this Debenture (without taking into account any limitations or restrictions on the convertibility of this Debenture) immediately
prior to the date on which a record is taken for the grant, issuance or sale of such Purchase Rights, or, if no such record is
taken, the date as of which the record holders of shares of Common Stock are to be determined for the grant, issue or sale of such
Purchase Rights (provided, however, to the extent that the Holder’s right to participate in any such Distributions would
result in the Company exceeding the Exchange Cap, then the Holder shall not be entitled to participate in such Distribution to
such extent (or the beneficial ownership of any such shares of Common Stock as a result of such Distribution to such extent) and
such Distribution to such extent shall be held in abeyance for the benefit of the Holder until such time, if ever, as its right
thereto would not result in the Company exceeding the Exchange Cap).

购买权利。任何时候公司向现有记录的任何普通股股东,按照比例赠与,发行或出售任何期权,可转换证券或权利以购买股票,期权,证券或其他资产
(”购买权利”,)则持有者也具有同样的权利,假设持有者如果在该赠与,发行或出售该购买权利记录日之前,如果没有该记录日,则取该购买权利的决定日,将当时持有的债券全部转换为普通股(不考虑转换的各种限制以及是否能转换的可能性),(但是,如果持有者的购买权利参与将导致公司超过了交易所限制,则持有者不能参与,超过交易所限制的部分将不被允许。(如果持有人参与分派会导致公司发行超过交易所的限制,则持有人不得就超过部分(或者其持有的普通股权益比例相应超过交易所限制部分)享有分派权,
当然这部分被搁置的权益在将来公司发行不会产生超过交易所限制的前提下仍可以实行。

 

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(iii)          Other
Corporate Events. In addition to and not in substitution for any other rights hereunder, prior to the consummation of any Fundamental
Transaction pursuant to which holders of shares of Common Stock are entitled to receive securities or other assets with respect
to or in exchange for shares of Common Stock (a “Corporate Event”), the Company shall make appropriate provision
to insure that the Holder will thereafter have the right to receive upon a conversion of this Debenture, (i) in addition to the
shares of Common Stock receivable upon such conversion, such securities or other assets to which the Holder would have been entitled
with respect to such shares of Common Stock had such shares of Common Stock been held by the Holder upon the consummation of such
Corporate Event (without taking into account any limitations or restrictions on the convertibility of this Debenture) or (ii) in
lieu of the shares of Common Stock otherwise receivable upon such conversion, such securities or other assets received by the holders
of shares of Common Stock in connection with the consummation of such Corporate Event in such amounts as the Holder would have
been entitled to receive had this Debenture initially been issued with conversion rights for the form of such consideration (as
opposed to shares of Common Stock) at a conversion rate for such consideration commensurate with the Conversion Rate. Provision
made pursuant to the preceding sentence shall be in a form and substance satisfactory to the majority of then outstanding Holders.
The provisions of this Section shall apply similarly and equally to successive Corporate Events and shall be applied without regard
to any limitations on the conversion or redemption of this Debenture. For purposes of this Debenture, “Fundamental Transaction”
means that (i) the Company or any of its Subsidiaries shall, directly or indirectly, in one or more related transactions, (1) consolidate
or merge with or into (whether or not the Company or any of its Subsidiaries is the surviving corporation) any other Person, or
(2) sell, lease, license, assign, transfer, convey or otherwise dispose of all or substantially all of its respective properties
or assets to any other person, or (3) allow any other Person to make a purchase, tender or exchange offer that is accepted by the
holders of more than 50% of the outstanding shares of voting stock of the Company (not including any shares of voting stock of
the Company held by the Person or Persons making or party to, or associated or affiliated with the Persons making or party to,
such purchase, tender or exchange offer), or (4) consummate a stock or share purchase agreement or other business combination (including,
without limitation, a reorganization, recapitalization, spin-off or scheme of arrangement) with any other Person whereby such other
Person acquires more than 50% of the outstanding shares of voting stock of the Company (not including any shares of voting stock
of the Company held by the other Person or other Persons making or party to, or associated or affiliated with the other Persons
making or party to, such stock or share purchase agreement or other business combination), or (5) reorganize, recapitalize or reclassify
the Common Stock, or (ii) any “person” or “group” (as these terms are used for purposes of Sections 13(d)
and 14(d) of the 1934 Act and the rules and regulations promulgated thereunder) is or shall become the “beneficial owner”
(as defined in Rule 13d-3 under the 1934 Act), directly or indirectly, of 50% of the aggregate ordinary voting power represented
by issued and outstanding voting stock of the Company or (iii) without the prior written consent of the then outstanding majority
of Holders, the individuals who were directors of the Company on the initial Issuance Date shall cease for any reason at any time
to constitute a majority of the board of directors of the Company.

其他公司事件。除了本债券下的权益之外,在公司采取任何公司普通股股东有权享有转换普通股的重大交易行为(“公司事件”)有,公司应确保持有人有权在本债券转股是(i)除了本身根据转股有权获得的普通股之外,其他根据公司事件有权获得的证券或资产,(ii)在转股是,持有人如果在一开始获得本债券就转为普通股的情况下,根据公司事件所应获得的权益。根据本条款进行的分配需要使本债券持有人的绝大多数满意,并且不受转股或实现本债券条款的限制。在本债券中,“基础交易”是指(i)公司或其子公司直接或间接在一次或多次交易中,(1)于其他公司整合或合并(不论公司或其子公司是否为存续实体),或(2)出售,出租,分配,转移,或其他处理所有或近乎所有资产给其他人,或(3)经超过50%以上的具有投票权的股东(不包括由该人或其关联人所持有的具有投票权的普通股)投票决定,允许其他人出价购买或交换,或(4)开始股票或股权购买合同或其他经营重组(包括但不限于,重组,资产重组,分割)导致任何人获得公司有投票权股份的50%以上(5)重组,重整资产,或对普通股重新划分股权,
(ii) 任何“个人”或“团体”(个人和团体的定义适用1934年证券交易法第13(d)和14(d)以及其规则的定义和解释),成为拥有公司50%以上投票权的权益持有人(定义适用范围1934年证券交易法13d-3)或者
(iii)在没有本债券持有人绝大多数书面同意的前提下,在发行日的董事大多数不再组成董事大多数成员。

 

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6.            Status as Shareholder.
Upon submission of a conversion notice by the Holder of this Debenture, (i) the shares covered thereby (other than the shares,
if any, which cannot be issued because their issuance would exceed such Holder’s allocated portion of the Reserved Amount
or cause the Company to exceed the Exchange Cap) shall be deemed converted into shares of Common Stock and (ii) the Holder’s
rights as a Holder of such converted portion of the Holder’s Debenture shall cease and terminate, excepting only the right
to receive certificates for such shares of Common Stock and to any remedies provided herein or otherwise available at law or in
equity to such Holder because of a failure by the Company to comply with the terms of the Holder’s Debenture. Notwithstanding
the foregoing, if a Holder has not received certificates for all shares of Common Stock prior to the third (3rd) Business
Day after the Deadline, Holder may elect at such Holder’s option to regain the rights of a Holder of the Holder’s Debenture
with respect to such attempted converted portions of the Holder’s Debenture and the Company shall, as soon as practicable,
return such attempted converted Debenture to the Holder or, if the Debenture has not been surrendered, adjust its records to reflect
that such portion of the Holder’s Debenture has not been converted. In all cases, the Holder shall retain all of its rights
and remedies for the Company’s failure to convert the Holder’s Debenture.

股东身份。一旦持有人递交转股通知书,(i)
转股通知书下要求的转股部分应视为普通股(除去任何可能的因为超过该持有人应持有的保留的普通股的比例或超过公司发行最大额限制的部分的普通股股份),(ii)持有人在转股部分的债券下的持有人权利应终止,除了其有权获得相应数额的普通股以及因为公司未能履行债券义务其应享有的补救权益之外。虽然有以上的规定,如果持有人在到期日的前3天仍未收到普通股股权证书,持有人可以选择撤回这一部分的改股要求,公司应在最大限度内及时将这一部分的债券还给持有人,如果持有人未递交债券,公司应及时调整其记录,准确反映这一部分债券未进行转股。不管怎么,因为公司未能及时转股,持有人应恢复其在债券下所有的权利和补救权益。

 

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7.            Governing Law; Consent to Jurisdiction; Waiver of
Jury Trial.

适用法,管辖同意和放弃陪审团审理。

 

a.             This Debenture
shall be governed by, and construed in accordance with, the internal laws of the State of New York without regard to the choice
of law principles thereof. Each of the parties of the Debenture hereto irrevocably submits to the exclusive jurisdiction of the
courts of the State of New York located in New York County and the United States District Court for the Southern District of New
York for the purpose of any suit, action, proceeding or judgment relating to or arising out of this Debenture. Service of process
in connection with any such suit, action or proceeding may be served on each party hereto anywhere in the world by the same methods
as are specified for the giving of notices under this Debenture. Each of the parties of this Debenture irrevocably consents to
the jurisdiction of any such court in any such suit, action or proceeding and to the laying of venue in such court. Each party
hereto irrevocably waives any objection to the laying of venue of any such suit, action or proceeding brought in such courts and
irrevocably waives any claim that any such suit, action or proceeding brought in any such court has been brought in an inconvenient
forum. EACH OF THE PARTIES HERETO WAIVES ANY RIGHT TO REQUEST A TRIAL BY JURY IN ANY LITIGATION WITH RESPECT TO THIS DEBENTURE
AND REPRESENTS THAT COUNSEL HAS BEEN CONSULTED SPECIFICALLY AS TO THIS WAIVER.

本债券应适用纽约州实体法,不包括纽约州冲突适用法。
债券各方当事人在此不可逆转的同意位于纽约郡的纽约州州法院和美国地区法院纽约南部法院对本债券相关的诉讼,法律行为或司法程序有排他管辖权。
关于法律文件的送达各方当事人同意接受国际送达,送达方式适用本债券规定的通知方式。
本债券各方当事人在此不可逆转的同意接受以上法院的管辖权。
各方当事人在此不可逆转的放弃请求陪审团审理与本债券相关的诉讼,法律行为或程序的权利。各方当事人在此放弃陪审团审理的决定已经咨询过各自的律师。

 

b.         Each party
shall bear its own expenses in any litigation conducted under this section.

本债券各方当事人各自承担诉讼费用。

 

c.         The Company
consents to accept service of process by the certified mail, return receipt requested in the event of litigation. The Company further
consents to accept service of process via recognized international courier in the case that the Company is not able to accept service
by the certified mail provided a receipt of delivery is available.

公司同意在诉讼的情况下接受以挂号信要求回持方式进行的送达。公司进一步同意如果公司无法接受挂号信要求回持方式的送达,公司也可以接受知名的国际快运公司进行的送达。

8.            Facsimile Signatures.
This Debenture may be executed by facsimile signature which shall, for all purposes be deemed to be as legally valid and binding
upon the Company as an original signature.

传真签名。本债券可以传真签名的方式生效,与原始签名有同样的法律效力。

 

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9.           Event of Default. An
“Event of Default” shall exist if any of the following conditions or events shall occur and be continuing:

违约事件。如果发生下述任一情况,
将视为“违约事件”:

 

a.             Following
the Holder’s written demand for payment, the Company shall fail to pay in full the entire outstanding principal amount of
this Debenture and all interest accrued hereon within thirty (30) Days after such written demand for payment is given to Holder;
or

在债券持有人要求进行支付的情况下,公司在收到书面支付要求的三十(30)天内未支付全部应付债券本金和利息;或

 

b.             Subject
to Section 5(a)(iii) and 5(e), the Company’s (A) failure to cure a Conversion Failure by delivery of the required number
of shares of Common Stock within ten (10) Business Days after the applicable Conversion Date or (B) notice, written or oral, to
any holder of the Debentures, including by way of public announcement or through any of its agents, at any time, of its intention
not to comply with a request for conversion of any Debentures into shares of Common Stock that is tendered in accordance with the
provisions of the Debentures;

在本债券第5(a)(iii)和5(e)的前提下,
公司(A)在适用的债券可转股日的十(10)天内未能送交一定数额的普通股,从而未能解决转股失败的问题,(B)明示,口头或书面,通过公告或代理,在任何时间表达将不会按照债券的规定将债券转为普通股;

 

c.             At any time
following the tenth (10th) consecutive Business Day that the Reserved Amount is less than the number of shares of Common
Stock that the Holder would be entitled to receive upon a conversion of the full Conversion Amount of this Debenture (without regard
to any limitations on conversion set forth in Section 5(a)(iii) or otherwise and except as limited by Section 5(e)).

在预留普通股不能满足全部债券转股要求的情况出现后的第10个连续工作日未解决这一短缺问题(无论债券第5(a)(iii)和5(e)条中规定的转股限制)。

 

d.             The Company
defaults in the performance of or compliance with its obligations under any of this Debenture, the Securities Purchase Agreement
or any of the Transaction Documents and such default has not been cured for thirty (30) days after written notice of default is
given to the Company; or

公司在履行和执行本债券,证券购买合同,或其他融资文件下的义务时有违约行为,并且在书面通知下达后的三十(30)天内未能补救。

 

e.             Any representation
or warranty made by or on behalf of the Company or the Holder in this Debenture, the Securities Purchase Agreement or any of the
Transaction Documents proves to have been false or incorrect in any material respect on the date as of which made, and such
condition has not been cured for sixty (60) Business Days after written notice of default is given to the other party; or

公司或债券持有人在本债券,证券购买合同和其他融资文件中做的承诺和声明中有重大虚伪或不实信息,并且在违约书面通知下达后的六十(60)个工作日内未能补救。

 

    	17

    	 

    

 

f.             The Company
(i) admits in writing its inability to pay, its debts as they become due, (ii) files, or consents by answer or otherwise to the
filing against it of a petition for relief or reorganization or arrangement or any other petition in bankruptcy, for liquidation
or to take advantage of any bankruptcy, insolvency, reorganization, moratorium or other similar law of any jurisdiction, (iii)
makes an assignment for the benefit of its creditors, (iv) consents to the appointment of a custodian, receiver, trustee or other
officer with similar powers with respect to it or with respect to any substantial part of its property, (v) is adjudicated as insolvent
or to be liquidated, or (vi) takes corporate action for the purpose of any of the foregoing; or

公司(i)书面表示其无能力在债券到期日进行还款;
(ii) 在任何法律管辖区申请,或者同意第三方的申请进行重组,破产,清算,或者利用相关法律,(iii)为了应付公司的债权人而进行转让,
(iv)同意将自身或者财产的任何实质部分交办托管,信托或者其他类似处置,
(v)被强制破产或即将被强制破产, 或者(vi)出于以上任何目的采取相关公司行为,
或者

 

g.             A court
or governmental authority of competent jurisdiction enters an order appointing, without consent by the Company, a custodian, receiver,
trustee or other officer with similar powers with respect to it or with respect to any substantial part of its property, or constituting
an order for relief or approving a petition for relief or reorganization or any other petition in bankruptcy or for liquidation
or to take advantage of any bankruptcy or insolvency law of any jurisdiction, or ordering the dissolution, winding-up or liquidation
of the Company, or any such petition shall be filed against such party and such petition shall not be dismissed within six (6)
months.

法院或其他相关有权政府部门在不需要公司同意的情况下下令公司或公司的任何实质财产交托管,代理,信托或其他有类似职能的部门处理,或者下令解除或同意解除公司债务,或者进行重组,或清算,以及其他类似的处置,并且该命令在下达六(6)个月后仍未解除。

 

10.          Remedies Following An Event
Of Default. Upon occurrence of an Event of Default defined in subsection (a) to (g) of Section 9, this Debenture and all
accrued Interest to the date of such default shall, at the option of the Holder, immediately become due and payable without presentment,
protest or notice of any kind, all of which are waived by the Company.

违约事件后的补救。
如果发生本债券第9条所列的(a)至(g)中任一违约事件,本债券的本金和所有累积的利息立即到期,公司免除任何通知义务。

 

11.          Vote To Issue, Or Change
The Terms Of, Debentures. The written consent of the Holders of at least 51% of the holders of the then outstanding Debentures
shall be required for any change, modification or amendment to any of the Debentures, unless the change shall only effect the Holder
and the Company shall have offered such change to all holders of Debentures, in which case only the consent of the Holder is required.

对债券重发和修改的投票。本债券的任何修改需要经过当时存在的债券的持有人的51%以上书面同意,除非该修改只影响特定持有人而公司也已通知其他持有人这一修改的存在。

 

12.          Intentionally Left Blank.

特意留空。

 

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13.         Noncircumvention.
The Company hereby covenants and agrees that the Company will not, by amendment of its certificate of incorporation, bylaws or
through any reorganization, transfer of assets, consolidation, merger, scheme of arrangement, dissolution, issue or sale of securities,
or any other voluntary action, avoid or seek to avoid the observance or performance of any of the terms of this Debenture, and
will at all times in good faith carry out all of the provisions of this Debenture and take all action as may be required to protect
the rights of the Holder of this Debenture.

不得归避。
公司在此承诺并同意不会通过修改公司成立章程,章程,重组,转移资产,合并,收购,其他资产处置,解散,发行或出售证券,或任何其他自愿的行为来避免或试图避免履行公司在本债券下的义务,并承诺在任何时间都将诚信的履行本债券,采取必要的公司行为保护债券持有人的利益。

 

14.          Intentionally left blank.

特意留空
。

 

15.          Reissuance Of This Debenture.

本债券的重发。

 

a.            Lost,
Stolen or Mutilated Debenture.  Upon receipt by the Company of evidence reasonably satisfactory to the Company of
the loss, theft, destruction or mutilation of this Debenture, and, in the case of loss, theft or destruction, of any indemnification
undertaking by the Holder to the Company in customary form and, in the case of mutilation, upon surrender and cancellation of this
Debenture, the Company shall execute and deliver to the Holder a new Debenture (in accordance with Section 15(c)) representing
the outstanding Principal.

债券证书遗失,被盗或损坏。公司在收到可信服的证据证明本债券遗失,被盗,损坏的情况下,如果本债券遗失,被盗或损坏,持有人应该按照惯例向公司提供赔偿,如果是毁损,持有人应向公司提交旧的债券证书,并取消该证书,(遵从第15(c)的规定)公司将执行并递送给持有者一份新的债券证书以体现最新的本金数目。

 

b.            Debenture
Exchangeable for Different Denominations. This Debenture is exchangeable, upon the surrender hereof by the Holder at the principal
office of the Company, for a new Debenture or Debentures (in accordance with Section 15(c) and in principal amounts of at least
$10,000) representing in the aggregate the outstanding Principal of this Debenture, and each such new Debenture will represent
such portion of such outstanding Principal as is designated by the Holder at the time of such surrender.

债券可换面额值不同的债券。本债券持有人可以持本债券在公司主营业部门将债券换为不同金额的债券(根据条款15(c)的规定以及最小本金额为一万美元)。

 

c.             Issuance
of New Debentures.  Whenever the Company is required to issue a new Debenture pursuant to the terms of this Debenture,
such new Debenture (i) shall be of like tenor with this Debenture, (ii) shall represent, as indicated on the face of such new Debenture,
the Principal remaining outstanding (or in the case of a new Debenture being issued pursuant to Section 15(b), the Principal designated
by the Holder which, when added to the principal represented by the other new Debentures issued in connection with such issuance,
does not exceed the Principal remaining outstanding under this Debenture immediately prior to such issuance of new Debentures),
(iii) shall have an issuance date, as indicated on the face of such new Debenture, which is the same as the Issuance Date of this
Debenture, (iv) shall have the same rights and conditions as this Debenture, and (v) shall represent accrued and unpaid Interest,
if any, on the Principal of this Debenture, from the Issuance Date.

重发的新债券。公司在任何时候需要根据本债券的规定重发新债券时,新债券(i)应与本债券的内容一致,(ii)新债券的面值总体应代表本债券未兑现的本金值(如果是根据条款15(b)发的新债券,所有新债券代表的本金面值不得超过全部未总现的本金值),(iii)
新债券的发行日应为本债券的发行日,(iv)新债券的权利和条件应与本债券一样,(v)
应带有从发行日以来产生而未支付的全部利息。

 

    	19

    	 

    

 

16.          Payment Of Collection,
Enforcement And Other Costs. If (a) this Debenture is placed in the hands of an attorney for collection or enforcement
or is collected or enforced through any legal proceeding or the Holder otherwise takes action to collect amounts due under this
Debenture or to enforce the provisions of this Debenture or (b) there occurs any bankruptcy, reorganization, receivership of the
Company or other proceedings affecting Company creditors’ rights and involving a claim under this Debenture, then the Company
shall pay the costs incurred by the Holder for such collection, enforcement or action or in connection with such bankruptcy, reorganization,
receivership or other proceeding, including, but not limited to, attorneys’ fees and disbursements.

收账,强制执行和其他费用的支付。如果(a)本债券是通过律师或其他法律程序进行收账或强制执行,或(b)公司存在破产,重组,被接收或其他程序影响公司债权人的利益并产生对本债券的诉求,公司应支付本债券持有人应由收账,强制执行或其他与破产,重组,接收或程序产生的费用,包括但不限于律师费和开销报销垫付。

 

17.          Construction; Headings.  This
Debenture shall be deemed to be jointly drafted by the Company and the Holder and shall not be construed against any Person as
the drafter hereof.  The headings of this Debenture are for convenience of reference and shall not form part of, or affect
the interpretation of, this Debenture.

起草,标号。本债券是由公司和持有人双方共同起草,不存在适用对起草人不利原则的情况。本债券的标号是为了阅读的方便,本身不构成债券的内容也不影响本债券的解释。

 

18.          Failure Or Indulgence
Not Waiver.  No failure or delay on the part of the Holder in the exercise of any power, right or privilege hereunder
shall operate as a waiver thereof, nor shall any single or partial exercise of any such power, right or privilege preclude other
or further exercise thereof or of any other right, power or privilege. No waiver shall be effective unless it is in writing and
signed by an authorized representative of the waiving party.

未能执行或片面执行不构成放弃。持有人未能或未能及时行使本债券的权力,权利或特权并不构成放弃,持有人行使单一或部分权力,权利或特权也构成对其他或后继权力,权利或特权的放弃。

 

    	20

    	 

    

 

19.         Dispute Resolution.  In
the case of a dispute as to the arithmetic calculation of the Conversion Price or Conversion Amount, the Company shall submit the
disputed determinations or arithmetic calculations via facsimile within one (1) Business Day of receipt, or deemed receipt, of
the Conversion Notice or other event giving rise to such dispute, as the case may be, to the Holder.  If the Holder and
the Company are unable to agree upon such determination or calculation within one (1) Business Day of such disputed determination
or arithmetic calculation being submitted to the Holder, then the Company shall, within one Business Day submit via facsimile the
disputed arithmetic calculation of the Conversion Price or Conversion Amount to the Company’s independent, outside accountant.  The
Company shall cause the accountant to perform the determinations or calculations and notify the Company and the Holder of the results
no later than five (5) Business Days from the time it receives the disputed determinations or calculations. Such accountant’s
determination or calculation shall be binding upon all parties absent demonstrable error.  The party, whose calculation
is furthest from the accountant’s determination or calculation, shall be obligated to pay the fees and expenses of such accountant.

争议解决。如果债券双方对于转股价格或数额的计算有争议,公司应在收到转股通知书的一(1)个工作日内将不同的结论或计算方法交给债券持有人。
如果在此之后一(1)个工作日,双方无法达成合议,公司应在一(1)个工作日内将争议的计算交给公司的独立审计师。公司应要求审计师进行计算或核算计算,并在收到公司要求的五(5)个工作日内将计算结果告知公司和债券持有人。除非有证据证明审计师计算有错误,该计算结果对双方有约束力。
与审计师计算结果误差大的一方有义务支付应此产生的审计师的费用和开销。

 

20.         Notices; Payments.

通知;付款
。

 

a.           Notices.  Whenever
notice is required to be given under this Debenture, unless otherwise provided herein, such notice shall be given in the same
manner provided in the subsection headed “Notices” in the Securities Purchase Agreement, the terms of which are incorporated
herein by reference.

通知。无论在任何情况下根据债券的要求进行通知时,除非另有规定,通知应安排证券购买合同中“通知”条款规定的进行。

 

b.          Payments.  Except
as otherwise provided in this Debenture, whenever any payment of cash is to be made by the Company to any Person pursuant to this
Debenture, such payment shall be made in lawful money of the United States of America by a check drawn on the account of the Company
and sent via overnight courier service to such Person at such address as previously provided to the Company in writing; provided
that the Holder may elect to receive a payment of cash via wire transfer of immediately available funds by providing the Company
with prior written notice setting out such request and the Holder’s wire transfer instructions.  Whenever any amount
expressed to be due by the terms of this Debenture is due on any day which is not a Business Day, the same shall instead be due
on the next succeeding day which is a Business Day.  

付款。除非本债券另有规定,如果公司需要根据本债券对任何人支付现金付款,该付款应是美国的合法钱币,以支票,当夜加急快递的方式支付对方,地址应为对方之前书面提供给公司的地址,除非对方选择通过银行汇款,并书面提供汇款银行信息。如果付款日不是工作日,付款日应顺延至该日结束后的第一个工作日。

 

21.         Cancellation.  After
all Principal and other amounts at any time owed on this Debenture have been paid in full, this Debenture shall automatically be
deemed canceled, shall be surrendered to the Company for cancellation and shall not be reissued.

取消。
在本债券的所有本金和应付其他数额都全额付清后,本债券应自动取消,持有人应将债券返回公司进行取消,本债券不得重新签发。

 

    	21

    	 

    

 

22.          Waiver Of Notice.  To
the extent permitted by law, the Company hereby waives demand, notice, protest and all other demands and notices in connection
with the delivery, acceptance, performance, default or enforcement of this Debenture and the Securitas Purchase Agreement.

放弃通知。在法律允许的前提下,公司在此放弃有关本债券和证券购买合同的送达,接受,履行,违约或执行的要求,通知,抗议或其他需求和通知。

 

23.         Currency. All
principal, interest and other amounts owing under this Debenture or any Transaction Document that, in accordance with their terms,
are paid in cash shall be paid in U.S. dollars. All amounts denominated in other currencies shall be converted in the U.S. dollar
equivalent amount in accordance with the Exchange Rate on the date of calculation. “Exchange Rate” means, in
relation to any amount of currency to be converted into U.S. dollars pursuant to this Debenture, the U.S. dollar exchange rate
as published in the Wall Street Journal on the relevant date of calculation (it being understood and agreed that where an amount
is calculated with reference to, or over, a period of time, the date of calculation shall be the final date of such period of time).

币种。
本债券和其他融资文件适用的币种是美元。所有以其他流通币记录的钱币应换算为美元,汇率为换算当天的汇率。
“汇率”指,根据本债券规定将外币兑换为美元时,换算日华尔街日报公布的兑换汇率(如果需要兑换的金额产生有时间跨度,应使用该跨度的最后一天的汇率)。

 

24.         Language. This
Debenture is written in Chinese and English but if there is any conflict between the Chinese and English version, English version
shall prevail.

语言。本债券以中文和英文签署,但中英文本如有冲突,以英文为准。

 

25.         Severability.
If any provision of this Debenture is prohibited by law or otherwise determined to be invalid or unenforceable by a court of competent
jurisdiction, the provision that would otherwise be prohibited, invalid or unenforceable shall be deemed amended to apply to the
broadest extent that it would be valid and enforceable, and the invalidity or unenforceability of such provision shall not affect
the validity of the remaining provisions of this Debenture so long as this Debenture as so modified continues to express, without
material change, the original intentions of the parties as to the subject matter hereof and the prohibited nature, invalidity
or unenforceability of the provision(s) in question does not substantially impair the respective expectations or reciprocal obligations
of the parties or the practical realization of the benefits that would otherwise be conferred upon the parties. The parties will
endeavor in good faith negotiations to replace the prohibited, invalid or unenforceable provision(s) with a valid provision(s),
the effect of which comes as close as possible to that of the prohibited, invalid or unenforceable provision(s).

有效性。
如果本债券的任何条款因为被法律禁止或者由有管辖权的法院认定无效或无执行力,这一条款应视为修改以保持其最大程度的有效性和执行力。此外,该条款的禁制和无执行力不得影响本债券其他条款的效力,只要本债券通过修改能实现当事人最初的实质目的而无重大变更,特定的条款被禁制或无执行力不会实质性的影响各自的预期或义务以及追求的实质利益。
双方将诚信地就修改或替换特定条款进行协商。

 

[Signature Page Follows]

[签名页随后]

 

    	22

    	 

    

 

IN WITNESS WHEREOF, the Company
has executed and delivered this Debenture the date and year first above written.

 

鉴于此,公司在债券上注定的特定日期签署并发行该债券。

 

	
        CHINA GINSENG HOLDINGS, INC.

中国人参控股有限公司
	 
	 	 
	/s/ Changzhen Liu	 
	
        Name: Changzhen Liu 刘长桢

        Title: Chief Executive Officer 首席执行官
	 

 

 

23

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