Document:

Exhibit 10.4

 

HMS HOLDINGS CORP.

RETENTION BONUS PLAN

 

HMS Holdings Corp.,
a Delaware corporation (the “Company”), has adopted this HMS Holdings Corp. Retention Bonus Plan (the “Plan”)
for the benefit of certain employees of the Company or its Affiliates (as defined below), on the terms and conditions hereinafter
stated. The Plan, as set forth herein, is intended to reinforce and encourage the continued attention and dedication of such employees
to their duties without distraction in connection with the occurrence of a Change in Control (as defined below).

 

1.       Defined
Terms. For purposes of the Plan, the following terms shall have the meanings indicated below:

 

1.1              
“Affiliate” means, with respect to any person, any domestic or foreign individual, partnership, corporation,
limited liability company, association, joint stock company, trust, joint venture, unincorporated organization or governmental
entity that, directly or indirectly, through one or more intermediaries, controls, is controlled by, or is under common control
with, the Company.

 

1.2              
“Board” means the board of directors of the Company.

 

1.3              
“Cause”, with respect to a Participant, shall have that meaning provided in an applicable employment
agreement, service agreement, retention or severance agreement, or other similar agreement between a Participant and the Company
(or an Affiliate) or, if no such agreement exists or if such agreement does not contain a definition of Cause (or similar term),
then Cause means any of the following: the Participant’s (i) fraud with respect to the Company; (ii) material misrepresentation
to any regulatory agency, governmental authority, outside or internal auditors, internal or external Company counsel, or the Board
concerning the operation or financial status of the Company; (iii) theft or embezzlement of assets of the Company; (iv) conviction
or plea of guilty or nolo contendere to any felony (or to a felony charge reduced to a misdemeanor), or, with respect to the Participant’s
employment, to any misdemeanor (other than a traffic violation); (v) material failure to follow the Company’s conduct and
ethics policies that have been provided or made available to the Participant; (vi) if the Participant has an effective employment
agreement, service agreement, retention or severance agreement, or other similar agreement, or a restrictive covenant agreement,
with the Company (or an Affiliate), the Participant’s material breach of any such agreement; and/or (vii) continued failure
to attempt in good faith to perform the Participant’s duties as reasonably assigned by his or her supervisor at the time.

 

1.4              
“Change in Control” shall have that meaning set forth in the Company’s 2019 Omnibus Incentive Plan.

 

1.5              
“Closing” means the consummation of a Change in Control.

 

1.6              
“Closing Date” means the date on which the Closing occurs.

 

1.7              
“Code” means the Internal Revenue Code of 1986, as amended from time to time, or any successor thereto.

 

1.8              
“Committee” means (i) prior to a Change in Control, the compensation committee of the Board and (ii)
following a Change in Control, the Company’s Chief Executive Officer as of immediately prior to the consummation of such
Change in Control.

 

1.9              
“Employee” means an individual who is an employee of the Company or any Successor Entity (or an Affiliate).

 

    	 

    	 

    

 

1.10          
 “Good Reason”, with respect to a Participant, shall have that meaning provided in an applicable employment
agreement, service agreement, retention or severance agreement, or other similar agreement between a Participant and the Company
(or an Affiliate), if applicable.

 

1.11          
“Participant” means each Employee who is selected to participate in the Plan in accordance with Section
3 and receives a Participation Notice.

 

1.12          
“Participation Notice” means the written notice provided to each Participant by the Company setting forth
the terms of his or her participation in the Plan, the form of which is attached as Exhibit A.

 

1.13          
“Qualifying Termination”, with respect to a Participant, means a termination of such Participant’s
employment (i) by the Company or any Successor Entity (or any of their respective Affiliates) without Cause or (ii) with respect
to a Participant who is a party to an individual agreement with the Company or any Successor Entity (or any of their respective
Affiliates) that contains a “good reason” or similar definition, by a Participant for Good Reason.

 

1.14          
“Release” means a general release of claims against the Company, in a form prescribed by the Company.

 

1.15          
“Separation from Service” means a Participant’s “separation from service” from the
Company (including a Successor Entity or Affiliate) within the meaning of Section 409A.

 

1.16          
“Successor Entity” means any entity that acquires or otherwise succeeds to all or substantially all of
the business or assets of the Company upon and following the Closing.

 

2.       Effectiveness
of the Plan. The Plan is effective as of December 20, 2020 (the “Effective Date”).

 

3.       Plan
Administrator. The Plan shall be interpreted, administered and operated by the Committee (the “Plan Administrator”),
which shall have complete authority, subject to the express provisions of the Plan, to interpret the Plan, to prescribe, amend
and rescind rules and regulations relating to the Plan, and to make all other determinations necessary or advisable for the administration
of the Plan. All decisions, interpretations and other actions of the Plan Administrator shall be final, conclusive and binding
on all parties who have an interest in the Plan. Notwithstanding the foregoing, the Plan Administrator or, with respect to a Participant
who is not an executive officer or Senior Vice President of the Company, the Company’s Chief Executive Officer, shall determine
the Participants and the size of such Participant’s Retention Bonus (as defined below) in accordance with the provisions
of Section 4 hereof. Promptly following such determination, the Company shall provide written notice to each Participant pursuant
to a Participation Notice.

 

4.       Retention
Bonus. Each Participant shall be eligible to receive a cash bonus (the “Retention Bonus”) in an aggregate
amount set forth in such Participant’s Participation Notice upon the terms and conditions set forth herein. Subject to Section
5 hereof, each Retention Bonus shall vest as to 100% of such Retention Bonus on the 90th day following the Closing Date,
subject to the Participant’s continuous employment through such vesting date.

 

5.       Forfeiture;
Termination of Employment. In order to be eligible to receive a Retention Bonus, a Participant must be continuously
employed by the Company (including a Successor Entity or an Affiliate) through the applicable vesting date. Notwithstanding
the foregoing, in the event that a Participant experiences a Qualifying Termination on or after the Closing, but prior to or
on the 90th day following the Closing Date, then the Participant shall be entitled to receive the
Participant’s Retention Bonus, subject to the Participant’s timely execution and non-revocation of a Release
within such time period prescribed by the Company in accordance with applicable law. The Retention Bonus shall be payable
within 30 days following the Participant’s termination date.

 

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6.       Payment.
Retention Bonus payments shall be made by the designated payroll provider within 30 days following the applicable vesting date.

 

7.       Section
409A.

 

7.1              
To the extent applicable, the Plan shall be interpreted and applied consistent and in accordance with Section 409A of the
Code and Department of Treasury regulations and other interpretive guidance issued thereunder. Notwithstanding any provision of
the Plan to the contrary, to the extent that the Plan Administrator determines that any payments or benefits under the Plan may
not be either compliant with or exempt from Section 409A of the Code and related Department of Treasury guidance, the Plan Administrator
may in its sole discretion adopt such amendments to the Plan or take such other actions that the Plan Administrator determines
are necessary or appropriate to (i) exempt the compensation and benefits payable under the Plan from Section 409A of the Code and/or
preserve the intended tax treatment of such compensation and benefits, or (ii) comply with the requirements of Section 409A of
the Code and related Department of Treasury guidance; provided, however, that this Section 7 shall not create any
obligation on the part of the Plan Administrator to adopt any such amendment or take any other action, nor shall the Company or
any of its Affiliates have any liability for failing to do so.

 

7.2              
Any right to a series of installment payments pursuant to this Plan and any Participation Notice is to be treated as a right
to a series of separate payments. To the extent permitted under Section 409A of the Code, any separate payment or benefit under
this Plan and any Participation Notice or otherwise shall not be deemed “nonqualified deferred compensation” subject
to Section 409A to the extent provided in the exceptions in Treasury Regulation Section 1.409A-1(b)(4), Section 1.409A-1(b)(9)
or any other applicable exception or provision of Section 409A of the Code. All payments of nonqualified deferred compensation
subject to Section 409A of the Code to be made hereunder upon a termination of employment may only be made upon the Participant’s
Separation from Service.

 

7.3              
Notwithstanding anything to the contrary herein, no portion of a Participant’s Retention Bonus shall be paid to any
Participant during the six-month period following such Participant’s Separation from Service if the Company reasonably determines
that paying such amounts at the time or times indicated herein would be a prohibited distribution under Section 409A(a)(2)(B)(i)
of the Code. If the payment of any such amounts is delayed as a result of the previous sentence, then on the first business day
following the end of such six-month period (or such earlier date upon which such amount can be paid under Section 409A of the Code
without resulting in a prohibited distribution, including as a result of the applicable Participant’s death), the Participant
shall be paid a lump-sum amount equal to the cumulative amount that would have otherwise been payable to the Participant during
such period (without interest).

 

8.        Successors.

 

8.1              
Company Successors. The Plan shall inure to the benefit of and shall be binding upon the Company, the Successor Entity,
and their successors and assigns. Any successor (whether direct or indirect and whether by purchase, lease, merger, consolidation,
liquidation or otherwise) to all or substantially all of the Company’s business and/or assets shall assume and agree to perform
the obligations of the Company under the Plan.

 

8.2               Participant
Successors. The Plan shall inure to the benefit of and be enforceable by each Participant’s personal or legal
representatives, executors, administrators, successors, heirs, distributees, devisees, legatees or other beneficiaries. If a
Participant dies while any amount remains payable to such Participant hereunder, all such amounts shall be paid in accordance
with the terms of the Plan to the executors, personal representatives or administrators of such Participant’s
estate.

 

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9.        Miscellaneous.

 

9.1              
Entire Plan. The Plan contains the entire understanding of the parties relating to the subject matter hereof.

 

9.2              
No Right to Continued Service. Nothing contained in the Plan shall (i) confer upon any Participant any right to continue
as an Employee of the Company or any Successor Entity, or any Affiliate thereof, (ii) constitute any contract of employment or
agreement to continue employment for any particular period, or (iii) interfere in any way with the right of the Company or any
Successor Entity, or any Affiliate thereof, to terminate a service relationship with any Participant, with or without Cause.

 

9.3              
Termination and Amendment of Plan. If a Change in Control is not consummated prior to the two-year anniversary of
the Effective Date, then (i) the Plan shall terminate automatically and (ii) no Retention Bonus shall become payable pursuant to
the Plan. In addition, the Plan shall terminate upon the Company’s satisfaction of all of its obligations under the Plan.
The Company reserves the right to amend or modify the Plan or any Participation Notice at any time in its sole discretion prior
to the Closing. The Plan shall not be amended, modified, suspended or terminated on or after the Closing (a) except with the express
written consent of each Participant who would be adversely affected by any such amendment, modification, suspension or termination,
or (b) unless and until all rights and obligations hereunder have been fully and finally satisfied or forfeited. In addition, following
the Closing, the definition of Cause and/or Good Reason (if applicable) set forth in an applicable employment agreement, service
agreement, retention or severance agreement, or other similar agreement between a Participant and the Company (or an Affiliate)
shall not be amended or modified except with the express written consent of each Participant who would be adversely affected by
any such amendment or modification.

 

9.4              
Payments Not Deemed to be Salary; No ERISA Plan. No payment payable under the Plan shall be deemed salary or other
compensation to any Participant for purposes of computing benefits to which a Participant may be entitled under any vacation, disability,
profit sharing, pension plan or other arrangement of the Company for the benefit of employees except as may otherwise be specifically
provided for by such plan or other arrangement. This Plan is intended to constitute an “unfunded” plan for incentive
compensation, and is not intended to constitute a plan subject to the provisions of the Employee Retirement Income Security Act
of 1974, as amended. Nothing contained in the Plan and no action taken pursuant to the provisions of the Plan shall create or be
considered to create a trust or fund, or any obligation to fund or otherwise secure the payment of any amounts due under the Plan,
or any kind or fiduciary relationship between the Company and any Participant or any of its other employees or a security interest
of any kind in any property of the Company in favor of any Participant or any other person.

 

9.5              
 Withholding. The Company shall have the authority and the right to deduct and withhold an amount sufficient to satisfy
federal, state, local and foreign taxes required by law to be withheld with respect to any Retention Bonus payable under the Plan.

 

9.6              
Benefits not Assignable. Except as otherwise provided herein or by law, no right or interest of any Participant under
the Plan shall be assignable or transferable, in whole or in part, either directly or by operation of law or otherwise, including
without limitation by execution, levy, garnishment, attachment, pledge or in any manner; no attempted assignment or transfer thereof
shall be effective; and no right or interest of any Participant under the Plan shall be liable for, or subject to, any obligation
or liability of such Participant. When a payment is due under the Plan to a Participant who is unable to care for his or her affairs,
payment may be made directly to his or her legal guardian or personal representative.

 

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9.7              
 Restrictive Covenants. A Participant’s entitlement to and retention of the amounts under the Plan are expressly
conditioned upon such Participant’s continued compliance with applicable restrictive covenants signed or entered into in
connection with such Participant’s employment (including but not limited to, covenants relating to competition, solicitation
or hiring of employees, solicitation of customers, and confidentiality), and if the Participant breaches any such restrictive covenants
then amounts described herein shall no longer be payable and, if already paid, shall promptly be returned to the Company within
seven days of the Company providing the Participant with written notice of such breach, to the extent permitted or required by
law.

 

9.8              
Applicable Law. The Plan shall be construed, interpreted and the rights of the parties determined in accordance with
the laws of the State of Delaware (without regard to conflict of law principles that would result in the application of any law
other than the law of the State of Delaware).

 

9.9              
Validity. The invalidity or unenforceability of any provision of the Plan shall not affect the validity or enforceability
of any other provision of the Plan, which shall remain in full force and effect.

 

9.10          
Captions. The captions contained in the Plan are for convenience only and shall have no bearing on the meaning, construction
or interpretation of the Plan’s provisions.

 

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EXHIBIT A

 

FORM OF PARTICIPATION NOTICE

 

[See attached.]

 

     

     

    

 

PARTICIPATION NOTICE 

HMS HOLDINGS CORP. RETENTION BONUS
PLAN

 

December 20, 2020

 

 

Dear [_________]:

 

In connection with
your employment by HMS Holdings Corp. and its direct and indirect subsidiaries (collectively, the “Company”),
the Company has determined that you will be eligible to receive a retention bonus (the “Retention Bonus”) under
the HMS Holdings Corp. Retention Bonus Plan (the “Plan”), a copy of which is being provided to you with this
Participation Notice.

 

1.                  
Incorporation by Reference. The Retention Bonus described in this Participation Notice is subject in all respects
to the terms, conditions and provisions of the Plan, as amended from time to time, all of which are made a part of and incorporated
by reference into this Participation Notice. All capitalized terms used but not defined in this Participation Notice shall have
the definitions provided in the Plan. In the event of any conflict between the terms of this Participation Notice and the terms
of the Plan, the terms of the Plan shall govern.

 

2.                  
Vesting Schedule. You are eligible to receive a Retention Bonus of up to $[______]. Your Retention Bonus will vest
as to 100% of such Retention Bonus on the 90th day following the Closing Date, subject to your continued employment through such
vesting date, as described in the Plan.

 

3.                  
Certain Terminations of Employment. Your Retention Bonus may be subject to forfeiture or accelerated vesting/payment,
in whole or in part, in connection with certain terminations of employment (as further described in the Plan). In the event you
experience a Qualifying Termination on or after the Closing, but prior to or on the 90th day following the Closing Date,
then in order for you to receive payment of any portion of your Retention Bonus, you must sign (and not revoke) a general release
of claims in a form provided by the Company on or after your termination of employment.

 

4.                  
Restrictive Covenants. In addition, note that your entitlement to and retention of the amounts described herein are
expressly conditioned upon your continued compliance with applicable restrictive covenants you signed or entered into in connection
with your employment (including but not limited to, covenants relating to competition, solicitation or hiring of employees, solicitation
of customers, and confidentiality), and if you breach any such restrictive covenants then amounts described herein shall no longer
be payable and, if already paid, shall promptly be returned to the Company within seven days of the Company providing you with
written notice of such breach, to the extent permitted or required by law.

 

5.                  
Applicable Law. This Participation Notice and the Plan shall be construed, interpreted and the rights of you and
the Company determined in accordance with the laws of the State of Delaware (without regard to conflict of law principles that
would result in the application of any law other than the law of the State of Delaware).

 

Please confirm your
acceptance of the Retention Bonus award on the terms and conditions set forth in the Plan and this Participation Notice by signing
and dating the acknowledgment below.

 

[Signature page follows]

 

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Sincerely,

 

HMS HOLDINGS CORP.

 

 

By: 

Name: William C. Lucia

Title: President and Chief Executive Officer

 

ACKNOWLEDGMENT:

 

I hereby acknowledge
receipt of the Plan, a copy of which has been provided to me with this Participation Notice, and represent that I am familiar with
the terms and provisions thereof. I hereby accept this Retention Bonus award subject to all of the terms and provisions of the
Plan and this Participation Notice. I have reviewed the Plan and this Participation Notice in their entirety. I hereby agree to
accept as binding, conclusive and final all decisions or interpretations of the Committee upon any questions arising under the
Plan or this Participation Notice.

 

	By:	 	 
	 	[Name]	 
	 	 	 
	Date:	 	 

 

     

     

    

 

Exhibit A

 

HMS Holdings Corp. Retention Bonus PlanExhibit 10.18

 

jowell
global ltd.

DIRECTOR AGREEMENT

 

This Director Agreement (the “Agreement”)
is made and entered into as of December 23, 2020 (the “Effective Date”), by and between Jowell Global Ltd., a Cayman
Islands company (the “Company”), and Y. Tristan Kuo, an individual (the “Director”).

 

I. SERVICES

 

1.1 Board of Directors. The Company
has appointed the Director to the Company’s Board of Directors (the “Board”), Chairman of the Audit Committee,
a member of the Corporate Governance and Nominating Committee and the Compensation Committee of the Board. Director agrees to perform
such tasks as may be necessary to fulfill Director’s obligations as a member of the Board and serve as a director so long
as he is duly appointed or elected and qualified in accordance with the applicable provisions of the Memorandum and Articles of
Association, Bylaws and any applicable stockholders’ agreement of the Company and until such time as he resigns, fails to
stand for election, fails to be elected by the stockholders of the Company or is removed from his position. Director may at any
time and for any reason resign or be removed from such position (subject to any other contractual obligation or other obligation
imposed by operation of law), in which event the Company shall have no obligation under this Agreement with respect to the Director.

 

1.2 Director Services. Director’s
services to the Company hereunder shall include service on the Board to manage the business of the Company in accordance with applicable
law and stock exchange rules as well as the Memorandum and Articles of Association and Bylaws of the Company, serving on committees
of the Board as appointed and such other services mutually agreed to by Director and the Company (the “Director Services”).

 

1.3 Member of Committees. Director
agrees to serve as the Chairman of the Audit Committee and a member of the Compensation Committee and the Corporate Governance
and Nominating Committee of the Board. The Company and the Director acknowledge that all official appointments to committees of
the Board are made by the Board.

 

1.4 Expiration Date. This Agreement
shall terminate upon the “Expiration Date”, which shall be the earlier of the date on which Director ceases to be a
member of the Board for any reason, including death, resignation, removal, or failure to be elected by the stockholders of the
Company, or the date of termination of this Agreement in accordance with Section 5.2 hereof.

 

II. COMPENSATION

 

2.1 Expense Reimbursement. The Company
shall reimburse Director for all reasonable travel and other out-of-pocket expenses incurred in connection with the Director Services
rendered by Director.

 

2.2 Fees to Director. The Company
agrees to pay Director a fee of $30,000 one year for Director Services, service as the Chairman of the Audit Committee, a member
of the Compensation Committee and the Corporate Governance and Nominating Committee of the Board and other services mutually agreed
by the parties. The fee to the Director shall be paid by the Company quarterly. 

 

III. CONFIDENTIALITY AND NONDISCLOSURE

 

3.1 Confidentiality. During the
term of this Agreement, and for a period of two (2) years after the Expiration Date, Director shall maintain in strict confidence
all information he has obtained or shall obtain from the Company, which the Company has designated as “confidential”
or which is by its nature confidential, relating to the Company’s business, operations, properties, assets, services, condition
(financial or otherwise), liabilities, employee relations, customers (including customer usage statistics), suppliers, prospects,
technology, or trade secrets, except to the extent such information (i) is in the public domain through no act or omission of the
Director, (ii) is required to be disclosed by law or a valid order by a court or other governmental body, or (iii) is independently
learned by Director outside of this relationship with the Company (the “Confidential Information”).

 

     

     

    

  

3.2 Nondisclosure and Nonuse Obligations.
Director will use the Confidential Information solely to perform his obligations for the benefit of the Company hereunder. Director
will treat all Confidential Information of the Company with the same degree of care as Director treats his own Confidential Information,
and Director will use his best efforts to protect the Confidential Information. Director will not use the Confidential Information
for his own benefit or the benefit of any other person or entity, except as being specifically permitted in this Agreement. Director
will immediately give notice to the Company of any unauthorized use or disclosure by or through him, or of which he becomes aware,
of the Confidential Information. Director agrees to assist the Company in remedying any such unauthorized use or disclosure of
the Confidential Information.

 

3.3 Return of Company Property.
All materials furnished to Director by the Company, whether delivered to Director by the Company or made by Director in the performance
of Director Services under this Agreement (the “Company Property”), are the sole and exclusive property of the Company.
Director agrees to promptly deliver the original and any copies of the Company Property to the Company at any time upon the Company’s
request. Upon termination of this Agreement by either party for any reason, Director agrees to promptly deliver to the Company
or destroy, at the Company’s option, the original and any copies of the Company Property. Director agrees to certify in writing
that Director has so returned or destroyed all such Company Property.

 

IV. COVENANTS OF DIRECTOR

 

4.1 No Conflict of interest. During
the term of this Agreement, and for a period of one (1) year after the Expiration Date, Director shall not be employed by, own,
manage, control or participate in the ownership, management, operation or control of any person, firm, partnership, corporation
or unincorporated association or entity of any kind that is competitive with the Company or otherwise undertake any obligation
inconsistent with the terms hereof. Director represents that nothing in this Agreement conflicts with Director’s obligations
to his current affiliation or other current relationships with the entity or entities. A business shall be deemed to be “competitive
with the Company” for purpose of this Article IV if and to the extent it engages in the business substantially similar to
the Company’s businesses described in its annual report. The ownership by the Director of not more than 5% of a corporation,
partnership or other enterprise shall not constitute a violation hereof.

  

4.2 Noninterference with Business.
During the term of this Agreement, and for a period of two (2) years after the Expiration Date, Director agrees not to interfere
with the business of the Company in any manner. By way of example and not of limitation, Director agrees not to solicit or induce
any employee, independent contractor, customer or supplier of the Company to terminate or breach his, her or its employment, contractual
or other relationship with the Company.

 

V. TERM AND TERMINATION

 

5. 1 Term. This Agreement is effective
as of the date first written above and will continue until the Expiration Date.

 

5.2 Termination. Either party may
terminate this Agreement at any time upon thirty (30) days prior written notice to the other party, or such shorter period as the
parties may agree upon.

 

5.3 Survival. The rights and obligations
contained in Articles Ill and IV will survive any termination or expiration of this Agreement.

 

VI. MISCELLANEOUS

 

6.1 Assignment. Except as expressly
permitted by this Agreement, neither party shall assign, delegate, or otherwise transfer any of its rights or obligations under
this Agreement without the prior written consent of the other party. Subject to the foregoing, this Agreement will be binding upon
and inure to the benefit of the parties hereto and their respective heirs, legal representatives, successors and assigns.

 

6.2 No Waiver. The failure of any
party to insist upon the strict observance and performance of the terms of this Agreement shall not be deemed a waiver of other
obligations hereunder, nor shall it be considered a future or continuing waiver of the same terms.

 

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6.3 Notices. Any notice required
or permitted by this Agreement shall be in writing and shall be delivered as follows with notice deemed given as indicated: (i)
by personal delivery when delivered personally; (ii) by overnight courier upon written verification of receipt; (iii) by facsimile
transmission upon acknowledgment of receipt of electronic transmission; or (iv) by certified or registered mail, return receipt
requested, upon verification of receipt. Notice shall be sent to the addresses set forth on the signature page of this Agreement
or such other address s either party may specify in writing.

 

6.4 Severability. Should any provisions
of this Agreement be held by a court of law to be illegal, invalid or unenforceable, the legality, validity and enforceability
of the remaining provisions of this Agreement shall not be affected or impaired thereby.

 

6.5 Entire Agreement. This Agreement
constitutes the entire agreement between the parties relating to this subject matter and supersedes all prior or contemporaneous
oral or written agreements concerning such subject matter. The terms of this Agreement will govern all Director Services undertaken
by Director for the Company.

 

6.6 Amendments. This Agreement may
only be amended, modified or changed by an agreement signed by the Company and Director. The terms contained herein may not be
altered, supplemented or interpreted by any course of dealing or practices.

 

6.7 Counterparts. This Agreement
may be executed in two counterparts, each of which shall be deemed an original, but all of which together shall constitute one
and the same instrument.

 

6.8 Governing Law. Any disputes
arising from or in connection with this Agreement, and the rights and obligations of the parties hereunder, shall be determined
in accordance with the law of Cayman Islands applicable to agreements made and to be performed entirely in Cayman Islands.

 

(Signature pages to follow)

 

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lN WITNESS WHEREOF, the parties have executed
this Agreement as of the date first written above.

 

	Company: Jowell Global Ltd. 	 	Director: Y. Tristan Kuo
	 	 	 	 	 
	By:	/s/ Zhiwe Xu	 	By:	/s/ Y. Tristan Kuo
	Name:	Zhiwei Xu, Chief Executive Officer	 	Name:	Y. Tristan Kuo
	Address: 	
        2nd Floor, No. 285 Jiangpu Road

        Yangpu District, Shanghai

        China 200082
	 	Address:

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