Document:

Exhibit 10.3

 

GENERAL RELEASE AND SEVERANCE AGREEMENT

 

This General Release and Severance Agreement
(the “Agreement”), dated as of March 15, 2018, is made and entered into by and between Brian Posner and Alliqua Biomedical,
Inc. (“Alliqua”).

 

For good and valuable consideration, receipt
of which is hereby acknowledged, in order to effect a mutually satisfactory and amicable separation of employment from Alliqua
and to resolve and settle finally, fully and completely all matters and disputes that now or may exist between them, as set forth
below, Brian Posner and Alliqua agree as follows:

 

1.       Parties
and Status. The parties to this Agreement are Brian Posner, his heirs, representatives, successors and assigns (collectively
“Employee”), and Alliqua, and any of its parents, predecessors, successors, subsidiaries, affiliates or related companies,
owners, officers, directors, partners, employees, agents and/or representatives.

 

2.       Separation
from Employment. Effective April 1, 2018 (the “Separation Date”), Employee voluntarily ceases his employment with
Alliqua and relinquishes all positions, offices, and authority with Alliqua. Employee acknowledges and agrees, except for the payments
described hereunder, Employee has no rights to any other wages and other compensation or remuneration of any kind due or owed from
Alliqua, including, but not limited, to all wages, reimbursements, bonuses, advances, vacation pay, severance pay, vested or unvested
equity or stock options, awards, and any other incentive-based compensation or benefits to which Employee was or may become entitled
or eligible.

 

3.       Employment
Agreement. The employment agreement between the parties (together with all amendments thereto, the “Employment Agreement”)
has terminated forever and no party shall have any further obligation or liability thereunder, except that Employee acknowledges
and agrees that Article IV Restrictive Covenants of the Employment Agreement, and all provisions thereunder, shall remain
in full force and effect in accordance with their terms.

 

4.       Consideration.
In consideration of this Agreement and the release herein, and his compliance with his obligations hereunder, Alliqua will provide
Employee with the following: (i) the performance bonus for 2017, in the amount of $118,310.40, less applicable taxes and other
withholdings, payable in a lump sum payment on the earlier of: (A) the one hundred twentieth (120th) day following the
Separation Date, or (B) within thirty (30) days following the Sale Consummation (as defined below); and (ii) in the event
of the final consummation of Alliqua’s sale of substantially all of its assets to Celularity, Inc. pursuant to the Asset
Purchase Agreement dated January 5, 2018, provided such transaction occurs on or before September 30, 2018 (the “Sale Consummation”):
(A) severance pay in an amount equal to Employee’s Base Salary for twelve (12) months, less applicable taxes and other withholdings,
payable in a lump sum payment on or before the thirtieth (30th) day following the date of the Sale Consummation, provided that,
no severance under this Section 4(ii)(A) shall be payable if the Sale Consummation does not occur by September 30, 2018; and (B)
the stock options and restricted stock previously granted to Employee: (1) shall remain outstanding and eligible for vesting as
if Employee were employed by the Company through the date of the Sale Consummation and shall become fully and immediately vested
upon the Sale Consummation,

 

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and (2) the stock options shall remain exercisable for two (2) years following the Separation Date
or, if sooner, until the end of the applicable stock option’s term, provided that, if the Sale Consummation does not
occur by September 30, 2018, the accelerated vesting upon the Sale Consummation and the extended option term shall not apply. The
parties acknowledge that Employee has become eligible for comparable employer sponsored health plan benefits and accordingly the
parties have agreed that Alliqua shall not provide Employee with any continuing benefits or consideration for the costs thereof.

 

5.       Transition
Services. Employee agrees to cooperate with Alliqua and perform such services as Alliqua may reasonably request relating to
the transition of his responsibilities and Alliqua’s matters, files and materials.

 

6.       Release
of Claims. For and in consideration of the right to receive the consideration described in Section 4 of this Agreement, Employee
fully and irrevocably releases and discharges Alliqua, including all of its affiliates, parent companies, subsidiary companies,
employees, owners, directors, officers, principals, agents, insurers, and attorneys from any and all claims arising or existing
on, or at any time prior to, the date this Agreement is signed by Employee. Such released claims include, without limitation, claims
relating to or arising out of: (i) Employee’s hiring, compensation, benefits and employment with Alliqua, (ii) Employee’s
separation from employment with Alliqua, and (iii) all claims known or unknown or which could or have been asserted by Employee
against Alliqua, at law or in equity, or sounding in contract (express or implied) or tort, including claims arising under any
federal, state, or local laws of any jurisdiction that prohibit age, sex, race, national origin, color, disability, religion, veteran,
military status, pregnancy, sexual orientation, or any other form of discrimination, harassment, or retaliation, including, without
limitation, claims under the Age Discrimination in Employment Act; the Older Workers Benefit Protection Act; the Americans with
Disabilities Act; Title VII of the Civil Rights Act of 1964; the Rehabilitation Act; the Equal Pay Act; the Family and Medical
Leave Act, 42 U.S.C. §1981; the Civil Rights Act of 1991; the Civil Rights Act of 1866 and/or 1871; the Occupational Safety
and Health Act; the Sarbanes Oxley Act; the Employee Polygraph Protection Act; the Uniform Services and Employment and Re-Employment
Rights Act; the Worker Adjustment Retraining Notification Act; the National Labor Relations Act and the Labor Management Relations
Act; the Pennsylvania Human Relations Act, and any other similar or equivalent state laws; the New Jersey Law Against Discrimination,
the New Jersey Conscientious Employee Protection Act, and any other similar or equivalent state laws; and any other federal, state,
local, municipal or common law whistleblower protection claim, discrimination or anti-retaliation statute or ordinance; claims
arising under the Employee Retirement Income Security Act; claims arising under the Fair Labor Standards Act; or any other statutory,
contractual or common law claims. Employee does not release Employee’s right to enforce the terms of this Agreement.

 

7.       No
Interference. Nothing in this Agreement is intended to interfere with Employee’s right to report possible violations
of federal, state or local law or regulation to any governmental or law enforcement agency or entity (including, without limitation,
the Securities and Exchange Commission (the “SEC”)), or to make other disclosures that are protected under the whistleblower
provisions of federal or state law or regulation. Employee further acknowledges that nothing in this Agreement is intended to interfere
with Employee’s right to file a claim or charge with, or testify, assist, or participate in an investigation, hearing, or

 

    	 	Page 2 of 4	 

     

    

 

proceeding conducted by, the Equal Employment Opportunity Commission (the “EEOC”), any state human rights commission,
or any other government agency or entity. However, by executing this Agreement, Employee hereby waives the right to recover any
damages or benefits in any proceeding Employee may bring before the EEOC, any state human rights commission, or any other government
agency or in any proceeding brought by the EEOC, any state human rights commission, or any other government agency on Employee’s
behalf with respect to any claim released in this Agreement; provided, however, for purposes of clarity, Employee does not waive
any right to any whistleblower award pursuant to Section 21F of the Securities Exchange Act of 1934 or any other similar provision.

 

8.       Review
and Consultation.  Employee acknowledges that: (i) this Agreement is written in terms and sets forth conditions in a manner
which he understands; (ii) he has carefully read and understands all of the terms and conditions of this Agreement; (iii) he agrees
with the terms and conditions of this Agreement; and (iv) he enters into this Agreement knowingly and voluntarily.  Employee
acknowledges that he does not waive rights or claims that may arise after the date this Agreement is executed, that he has been
given twenty-one (21) days from receipt of this Agreement in which to consider whether he wanted to sign it, that any modifications,
material or otherwise made to this Agreement do not restart or affect in any manner the original twenty-one (21) day consideration
period, and that Alliqua advises Employee to consult with an attorney before he signs this Agreement.  Alliqua agrees, and
Employee represents that he understands, that he may revoke his acceptance of this Agreement at any time for seven (7) days following
his execution of the Agreement and must provide notice of such revocation by giving written notice to Alliqua. If not revoked by
written notice received on or before the eighth (8th) day following the date of his execution of the Agreement, this
Agreement shall be deemed to have become enforceable and on such eighth (8th) day.

 

9.       Governing
Law/Venue. This Agreement shall be governed by and construed under the laws of the State of Delaware. Venue of any litigation
arising from this Agreement or any disputes relating to the Employee’s employment shall be in the United States District
Court for the District of Delaware, or a state district court of competent jurisdiction in New Castle County, Delaware. Employee
consents to personal jurisdiction of the United States District Court for the District of Delaware, or a state district court of
competent jurisdiction in New Castle County, Delaware for any dispute relating to or arising out of this Agreement or Employee’s
employment, and Employee agrees that Employee shall not challenge personal or subject matter jurisdiction in such courts.

 

10.       Voluntary.
This Agreement is executed voluntarily and without any duress or undue influence on the part or behalf of the parties hereto. The
parties acknowledge that they have had ample opportunity to have this Agreement reviewed by the counsel of their choice.

 

11.       Acknowledgment.
Employee acknowledges and agrees that the consideration provided herein is consideration to which Employee is not otherwise entitled
except pursuant to the terms of this Agreement, and are being provided in exchange for Employee’s compliance with his obligations
set forth hereunder.

 

12.       No
Admission of Liability. This Agreement shall not in any way be construed as an admission by Alliqua of any acts of wrongdoing
or violation of any statute, law or legal right.

 

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13.       Counterparts.
This Agreement may be executed in separate counterparts, each of which shall be deemed to be an
original and all of which taken together shall constitute one and the same agreement. Delivery of an executed signature page of
this Agreement by facsimile or by electronic mail in portable document format (PDF) will be effective as delivery of a manually
executed signature page of this Agreement.

 

14.       Sole
Agreement and Severability. Except as set forth herein, this Agreement is the sole, entire and complete agreement of the parties
relating in any way to the subject matter hereof. No statements, promises or representations have been made by any party to any
other party, or relied upon, and no consideration has been offered, promised, expected or held out other than as expressly set
forth herein, provided only that the release of claims in any prior agreement or release shall remain in full force and effect.
The covenants contained in this Agreement are intended by the parties hereto as separate and divisible provisions, and in the event
that any or all of the covenants expressed herein shall be determined by a court of competent jurisdiction to be invalid or unenforceable,
the remaining parts, terms or provisions of this Agreement shall not be affected and such provisions shall remain in full force
and effect.

 

PLEASE READ CAREFULLY. THIS GENERAL RELEASE AND SEVERANCE AGREEMENT
INCLUDES A RELEASE OF ANY AND ALL CLAIMS, KNOWN OR UNKNOWN, AGAINST ALLIQUA BIOMEDICAL, INC.

 

	ALLIQUA BIOMEDICAL, INC.	 	BRIAN POSNER
	 	 	 	 	 
	 	 	 	 	 
	By:	/s/ David Johnson	 	/s/ Brian Posner            
	 	 	 	 	 
	Title:	Chief Executive Officer	 	Date:	March 15, 2018
	 	 	 	 	 
	Date:	March 15, 2018	 	 	 

 

    	 	Page 4 of 4Subscription
Agreement

 

This
Subscription Agreement (this “Agreement”) is made and entered into as of March 13, 2018 by and between
RITO GROUP CORP., a Nevada corporation (the “Company”) and the undersigned (the “Purchaser”).
The Purchaser, together with the Company shall be referred to as the “Parties”.

 

WHEREAS,
the Company desires to issue and sell to the Purchaser, and the Purchaser desires to purchase from the Company [number of shares]
of common stock, par value $0.0001 per share of the Company (“Common Stock”) pursuant to an exemption from registration
under Section 4(a)(2), Regulation D, and/or Regulation S under the Securities Act of 1933, as amended (the “1933 Act”)
or other applicable exemptions on the terms and conditions set forth in this Agreement.

 

NOW,
THEREFORE, in consideration of the mutual covenants set forth herein, and for other good and valuable consideration, the receipt
and sufficiency of which is hereby acknowledged, the Parties hereby agree as follows:

 

	 	1.	Securities
    Sale and Purchase. The Company shall issue and sell to the Purchaser and the Purchaser agrees to purchase from the Company
    [number of shares] of Common Stock of the Company (the “Shares” or the “Securities”)
    at a price of $1.50 per share for a total amount of US$ [total subscription amount] (the “Purchase Price”)
    pursuant to an exemption from registration provided by Section 4(a)(2), Regulation D, and/or Regulation S promulgated under
    the 1933 Act or other applicable exemption. 
	 	 	 
	 	2.	Closing.
    At the closing, the Company will deliver to the Purchaser the Shares and the Purchase Price shall be paid by the Purchaser
    via wire transfer of immediately available funds to an account designated by the Company. The closing shall be held on such
    date as the parties may agree upon (the “Closing” and the “Closing Date”) at the offices of Rito Group
    Corp., Room 6C, 4/F, Block C, Hong Kong Industrial Centre, 489 Castle Peak Road, Lai Chi Kok, Hong Kong at 10:00 a.m., or
    at such other location or by such other means upon which the parties may agree; provided, that all of the conditions set forth
    in Section 2 hereof and applicable to the Closing shall have been fulfilled or waived in accordance herewith. 
	 	 	 
	 	3.	Representations,
    Warranties and Covenants of the Company. The Company represents and warrants to the Purchaser, as of the date hereof,
    as follows:

 

	 	(a)	Organization
    and Standing. The Company is a duly organized corporation, validly existing and in good standing under the laws of the
    State of Nevada, has full power to carry on its business as and where such business is now being conducted and to own, lease
    and operate the properties and assets now owned or operated by it and is duly qualified to do business and is in good standing
    in each jurisdiction where the conduct of its business or the ownership of its properties requires such qualification.

 

    	 

     

    

 

	 	(b)	Authorization
    and Power. The execution, delivery and performance of this Agreement and the consummation of the transaction contemplated
    hereby have been duly authorized by the Board of Directors of the Company. The Agreement has been (or upon delivery will be)
    duly executed by the Company is or, when delivered in accordance with the terms hereof, will constitute, assuming due authorization,
    execution and delivery by each of the parties thereto, the valid and binding obligation of the Company enforceable against
    the Company in accordance with its terms.
	 	 	 
	 	(c)	No
    Conflict.  The execution, delivery and performance of this Agreement and the consummation of the transactions
    contemplated hereby do not (i) violate or conflict with the Company’s Certificate of Incorporation, By-laws or other
    organizational documents, (ii) conflict with or result (with the lapse of time or giving of notice or both) in a material
    breach or default under any material agreement or instrument to which the Company is a party or by which the Company is otherwise
    bound, or (iii) violate any order, judgment, law, statute, rule or regulation applicable to the Company, except where such
    violation, conflict or breach would not have a Material Adverse Effect on the Company.  This Agreement when executed
    by the Company will be a legal, valid and binding obligation of the Company enforceable in accordance with its terms (except
    as may be limited by bankruptcy, insolvency, reorganization, moratorium and similar laws and equitable principles relating
    to or limiting creditors’ rights generally).
	 	 	 
	 	(d)	Authorization.  Issuance
    of the Shares to Purchasers has been duly authorized by all necessary corporate actions of the Company.
	 	 	 
	 	(e)	Issuances.
    The Shares to be issued hereunder will be validly issued, fully paid and nonassessable.
	 	 	 
	 	(f)	Litigation
    and Other Proceedings. There are no actions, suits, proceedings or investigations pending or, to the knowledge of the
    Company, threatened against the Company at law or in equity before or by any court or Federal, state, municipal or their governmental
    department, commission, board, bureau, agency or instrumentality, domestic or foreign which could materially adversely affect
    the Company. The Company is not subject to any continuing order, writ, injunction or decree of any court or agency against
    it which would have a material adverse effect on the Company.
	 	 	 
	 	(g)	Use
    of Proceeds.  The proceeds of this Offering and sale of the Shares, net of payment of placement expenses, will
    be used by the Company for working capital and other general corporate purposes.   
	 	 	 
	 	(h)	Consents/Approvals.  No
    consents, filings (other than Federal and state securities filings relating to the issuance of the Shares pursuant to applicable
    exemptions from registration, which the Company hereby undertakes to make in a timely fashion), authorizations or other actions
    of any governmental authority are required to be obtained or made by the Company for the Company’s execution, delivery
    and performance of this Agreement which have not already been obtained or made or will be made in a timely manner following
    the Closing.  

 

    	 

     

    

 

	 	(i)	No
    Commissions.  The Company has not incurred any obligation for any finder’s, broker’s or agent’s
    fees or commissions in connection with the transaction contemplated hereby. 
	 	 	 
	 	(j)	Disclosure.
    No representation or warranty by the Company in this Agreement, the Agreement, nor in any certificate, Schedule or Exhibit
    delivered or to be delivered pursuant to this Agreement: contains or will contain any untrue statement of material fact or
    omits or will omit to state a material fact necessary to make the statements contained herein or therein not misleading.  To
    the knowledge of the Company and its subsidiaries at the time of the execution of this Agreement, there is no information
    concerning the Company and its subsidiaries or their respective businesses which has not heretofore been disclosed to the
    Purchasers that would have a Material Adverse Effect.
	 	 	 
	 	(k)	Compliance
    with Laws. The business of the Company and its subsidiaries has been and is presently being conducted so as to comply
    with all applicable material federal, state and local governmental laws, rules, regulations and ordinances.

 

	 	4.	Purchaser
    Representations, Warranties and Agreements. The Purchaser hereby acknowledges, represents and warrants as follows:

 

	 	(a)	Organization;
    Authority.  Such Purchaser is an entity duly organized, validly existing and in good standing under the laws
    of the jurisdiction of its organization with the requisite corporate or partnership power and authority to enter into and
    to consummate the transactions contemplated by the applicable Documents and otherwise to carry out its obligations thereunder.
    The execution, delivery and performance by such Purchaser of the transactions contemplated by this Agreement has been duly
    authorized by all necessary corporate or, if such Purchaser is not a corporation, such partnership, limited liability company
    or other applicable like action, on the part of such Purchaser.  Each of this Agreement and other Documents has
    been duly executed by such Purchaser, and when delivered by such Purchaser in accordance with the terms hereof, will constitute
    the valid and legally binding obligation of such Purchaser, enforceable against it in accordance with its terms, except as
    such enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium, liquidation or similar
    laws relating to, or affecting generally the enforcement of, creditors’ rights and remedies or by other equitable principles
    of general application.

 

    	 

     

    

 

	 	(b)	Investment
    Intent.  Such Purchaser is acquiring the Shares as principal for its own account for investment purposes only
    and not with a view to or for distributing or reselling such Shares or any part thereof, without prejudice, however, to such
    Purchaser’s right at all times to sell or otherwise dispose of all or any part of such Shares in compliance with applicable
    federal and state securities laws.  Subject to the immediately preceding sentence, nothing contained herein shall
    be deemed a representation or warranty by such Purchaser to hold the Shares for any period of time.  Such Purchaser
    is acquiring the Shares hereunder in the ordinary course of its business. Such Purchaser does not have any agreement or understanding,
    directly or indirectly, with any Person to distribute any of the Shares.
	 	 	 
	 	(c)	Purchaser
    Status.  

 

	 	(i)	The
    Purchaser agrees and acknowledges that it was not, a “U.S. Person” (as defined below) at the time the Purchaser
    was offered the Shares and as of the date hereof:

 

	 	(A)
    	Any
    natural person resident in the United States;
	 	 	 
	 	(B)
    	Any
    partnership or corporation organized or incorporated under the laws of the United States;
	 	 	 
	 	(C)
    	Any
    estate of which any executor or administrator is a U.S. person;
	 	 	 
	 	(D)
    	Any
    trust of which any trustee is a U.S. person;
	 	 	 
	 	(E)
    	Any
    agency or branch of a foreign entity located in the United States;
	 	 	 
	 	(F)
    	Any
    non-discretionary account or similar account (other than an estate or trust) held by a dealer or other fiduciary for the benefit
    or account of a U.S. person;
	 	 	 
	 	(G)
    	Any
    discretionary account or similar account (other than an estate or trust) held by a dealer or other fiduciary organized, incorporated,
    or (if an individual) resident of the United States; and
	 	 	 
	 	(H)
    	Any
    partnership or corporation if (i) organized or incorporated under the laws of any foreign jurisdiction and (ii) formed by
    a U.S. person principally for the purpose of investing in securities not registered under the 1933 Act, unless it is organized
    or incorporated, and owned, by accredited Purchasers (as defined in Rule 501(a) of Regulation D promulgated under the 1933
    Act) who are not natural persons, estates or trusts.

 

    	 

     

    

 

“United
States” or “U.S.” means the United States of America, its territories and possessions, any State
of the United States, and the District of Columbia.

 

	 	(ii)	The
    Purchaser understands that no action has been or will be taken in any jurisdiction by the Company that would permit a public
    offering of the Shares in any country or jurisdiction where action for that purpose is required.  
	 	 	 
	 	(iii)	The
    Purchaser (i) as of the execution date of this Agreement is not located within the United States, and (ii) is not purchasing
    the Shares for the account or benefit of any U.S. Person, except in accordance with one or more available exemptions from
    the registration requirements of the 1933 Act or in a transaction not subject thereto.
	 	 	 
	 	(iv)	The
    Purchaser will not resell the Shares except in accordance with the provisions of Regulation S (Rule 901 through 905 and Preliminary
    Notes thereto), pursuant to a registration statement under the 1933 Act, or pursuant to an available exemption from registration;
    and agrees not to engage in hedging transactions with regard to such securities unless in compliance with the 1933 Act.
	 	 	 
	 	(v)	The
    Purchaser will not engage in hedging transactions with regard to shares of the Company prior to the expiration of the distribution
    compliance period specified in Category 2 or 3 (paragraph (b)(2) or (b)(3)) in Rule 903 of Regulation S, as applicable, unless
    in compliance with the 1933 Act; and as applicable, shall include statements to the effect that the securities have not been
    registered under the 1933 Act and may not be offered or sold in the United States or to U.S. persons (other than distributors)
    unless the securities are registered under the 1933 Act, or an exemption from the registration requirements of the 1933 Act
    is available. 
	 	 	 
	 	(vi)	No
    form of “directed selling efforts” (as defined in Rule 902 of Regulation S under the 1933 Act), general solicitation
    or general advertising in violation of the 1933 Act has been or will be used nor will any offers by means of any directed
    selling efforts in the United States be made by the Purchaser or any of their representatives in connection with the offer
    and sale of the Purchased Shares.

 

	 	(d)	General
    Solicitation.  Such Purchaser is not purchasing the Shares as a result of any advertisement, article, notice
    or other communication regarding the Shares published in any newspaper, magazine or similar media or broadcast over television
    or radio or presented at any seminar or any other general solicitation or general advertisement.

 

    	 

     

    

 

	 	(e)	Access
    to Information.  Such Purchaser acknowledges that it has reviewed the disclosure materials and has been afforded
    (i) the opportunity to ask such questions as it has deemed necessary of, and to receive answers from, representatives of the
    Company concerning the terms and conditions of the offering of the Shares and the merits and risks of investing in the Shares;
    (ii) access to information about the Company and the Subsidiaries and their respective financial condition, results of operations,
    business, properties, management and prospects sufficient to enable it to evaluate its investment; and (iii) the opportunity
    to obtain such additional information that the Company possesses or can acquire without unreasonable effort or expense that
    is necessary to make an informed investment decision with respect to the investment.  Neither such inquiries nor
    any other investigation conducted by or on behalf of such Purchaser or its representatives or counsel shall modify, amend
    or affect such Purchaser’s right to rely on the truth, accuracy and completeness of the Disclosure Materials and the
    Company’s representations and warranties contained in the Transaction Documents.
	 	 	 
	 	(f)	Independent
    Investment Decision.  Such Purchaser has independently evaluated the merits of its decision to purchase the
    Shares pursuant to the Agreement, and such Purchaser confirms that it has not relied on the advice of any other Purchaser’s
    business and/or legal counsel in making such decision.  Such Purchaser has not relied on the business or legal advice
    of the Company or any of its agents, counsel or Affiliates in making its investment decision hereunder, and confirms that
    none of such Persons has made any representations or warranties to such Purchaser in connection with the transactions contemplated
    by the Transaction Documents.

 

	 	5.	Miscellaneous

 

	 	(a)	Confidentiality.  The
    Purchaser covenants and agrees that it will keep confidential and will not disclose or divulge any confidential or proprietary
    information that such Purchaser may obtain from the Company pursuant to financial statements, reports, and other materials
    submitted by the Company to such Purchaser in connection with this offering or as a result of discussions with or inquiry
    made to the Company, unless such information is known, or until such information becomes known, to the public through no action
    by the Purchaser; provided, however, that a Purchaser may disclose such information (i) to its attorneys, accountants, consultants,
    and other professionals to the extent necessary in connection with his or her investment in the Company so long as any such
    professional to whom such information is disclosed is made aware of the Purchaser’s obligations hereunder and such professional
    agrees to be likewise bound as though such professional were a party hereto, (ii) if such information becomes generally available
    to the public through no fault of the Purchaser, or (iii) if such disclosure is required by applicable law or judicial order.
	 	 	 
	 	(b)	Successors.  The
    covenants, representations and warranties contained in this Agreement shall be binding on the Purchaser’s and the Company’s
    heirs and legal representatives and shall inure to the benefit of the respective successors and assigns of the Company.  The
    rights and obligations of this Subscription Agreement may not be assigned by any party without the prior written consent of
    the other party.

 

    	 

     

    

 

	 	(c)	Counterparts.  This
    Agreement may be executed in counterparts, each of which shall be deemed an original agreement, but all of which together
    shall constitute one and the same instrument.  
	 	 	 
	 	(d)	Execution
    by Facsimile.  Execution and delivery of this Agreement by facsimile transmission (including the delivery of
    documents in Adobe PDF format) shall constitute execution and delivery of this Agreement for all purposes, with the same force
    and effect as execution and delivery of an original manually signed copy hereof.
	 	 	 
	 	(e)	Governing
    Law and Jurisdiction.  This Agreement shall be governed by and construed in accordance with the laws of the
    State of Nevada applicable to contracts to be wholly performed within such state and without regard to conflicts of laws provisions.
    Any legal action or proceeding arising out of or relating to this Subscription Agreement and/or the Offering Documents may
    be instituted in the courts of the State of Nevada sitting in Nevada, and the parties hereto irrevocably submit to the jurisdiction
    of each such court in any action or proceeding.  Purchaser hereby irrevocably waives and agrees not to assert, by
    way of motion, as a defense, or otherwise, in every suit, action or other proceeding arising out of or based on this Subscription
    Agreement and/or the Offering Documents and brought in any such court, any claim that Purchaser is not subject personally
    to the jurisdiction of the above named courts, that Purchaser’s property is exempt or immune from attachment or execution,
    that the suit, action or proceeding is brought in an inconvenient forum or that the venue of the suit, action or proceeding
    is improper.
	 	 	 
	 	(f)	Notices.  All
    notices, requests, demands, claims and other communications hereunder shall be in writing and shall be delivered by certified
    or registered mail (first class postage pre-paid), guaranteed overnight delivery, or facsimile transmission if such transmission
    is confirmed by delivery by certified or registered mail (first class postage pre-paid) or guaranteed overnight delivery,
    to the following addresses and facsimile numbers (or to such other addresses or facsimile numbers which such party shall subsequently
    designate in writing to the other party):

 

	 	(i)	if
    to the Company:
	 	 	 
	 	 	Rito
    Group Corp.
	 	 	Attn:
    Choi Tak Yin Addy
	 	 	Room
    6C, 4/F, Block C
	 	 	Hong
    Kong Industrial Centre, 
	 	 	489
    Castle Peak Road, Lai Chi Kok, 
	 	 	Hong
    Kong
	 	 	 
	 	(ii)	if
    to the Purchasers: 
	 	 	 
	 	 	To
    the addresses set forth on the signature pages.

 

    	 

     

    

 

	 	(g)
    	Entire
    Agreement.  This Agreement (including the Exhibits attached hereto) and other Transaction Documents delivered
    at the Closing pursuant hereto, contain the entire understanding of the parties in respect of its subject matter and supersede
    all prior agreements and understandings between or among the parties with respect to such subject matter.  The Exhibits
    constitute a part hereof as though set forth in full above.
	 	 	 
	 	(h)
    	Amendment;
    Waiver.  This Agreement may not be modified, amended, supplemented, canceled or discharged, except by written
    instrument executed by the Company and the Purchasers of not less than a majority of the principal amount of the subscription.
    No failure to exercise, and no delay in exercising, any right, power or privilege under this Agreement shall operate as a
    waiver, nor shall any single or partial exercise of any right, power or privilege hereunder preclude the exercise of any other
    right, power or privilege. No waiver of any breach of any provision shall be deemed to be a waiver of any proceeding or succeeding
    breach of the same or any other provision, nor shall any waiver be implied from any course of dealing between the parties.  No
    extension of time for performance of any obligations or other acts hereunder or under any other agreement shall be deemed
    to be an extension of the time for performance of any other obligations or any other acts.  The rights and remedies
    of the parties under this Agreement are in addition to all other rights and remedies, at law or equity, that they may have
    against each other.
	 	 	 
	 	(i)	Severability.  If
    any provision of this Agreement is held to be invalid or unenforceable in any respect, the validity and enforceability of
    the remaining terms and provisions of this Agreement shall not in any way be affected or impaired thereby and the parties
    will attempt to agree upon a valid and enforceable provision that is a reasonable substitute therefore, and upon so agreeing,
    shall incorporate such substitute provision in this Agreement.

 

[SIGNATURE
PAGE FOLLOWS]

 

    	 

     

    

 

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

 

	COMPANY: 	Rito
    Group Corp.
	 	 	 
	 	By:	/s/
CHOI TAK YIN ADDY
	 	Name:	Choi
    Tak Yin Addy
	 	Title:	Director,
    CEO
	 	 	 
	PURCHASER: 	 
	 	Name: [Name of Investor]
	 	 
		Purchase Price: $[Total subscription amount]
	 	Number of Shares: [Number of Shares]
	 	 
	 	Address: [Address of Investor]
	 	 
	 	Telephone & Email:
	 	[Telephone & Email of Investor]

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