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Exhibit 10.1.1
COUPA SOFTWARE INCORPORATED
SEVERANCE AND CHANGE IN CONTROL AGREEMENT
This Severance and Change in Control Agreement (the “Agreement”) is made and entered into by and between Robert Glenn (the “Executive”) and Coupa Software Incorporated, a Delaware corporation (the “Company”), effective as of the date specified in Section 1 below.
Certain capitalized terms are defined in Section 8.
The Company and Executive agree as follows:
1.Term.  This Agreement became effective as of February 1, 2021 (the “Effective Date”).  Unless sooner terminated, this Agreement will terminate automatically on October 12, 2022.      
2.Severance Benefits.
(a)Termination Not Involving a Change in Control.  If Executive is subject to a Termination Without Cause which occurs more than three months prior to a Change in Control (if any) or more than twelve months after a Change in Control and Executive satisfies the conditions described in Section 2(c) below, then Executive shall be entitled to the following severance benefits:  (i) a lump-sum cash severance payment equal to six months of Executive’s Base Salary; and (ii) if Executive elects to continue health insurance coverage under the Consolidated Omnibus Budget Reconciliation Act (“COBRA”) following Executive’s termination of employment, then the Company will pay or reimburse the Executive for the full amount of all applicable COBRA premiums for Executive and Executive’s eligible dependents until the earliest of (a) the close of the 6-month period following Executive’s termination of employment, (b) the date Executive ceases to be eligible for COBRA continuation coverage for any reason, including plan termination, or (c) the date when Executive becomes eligible for substantially equivalent health insurance coverage in connection with new employment or self-employment; provided, that, if necessary to avoid adverse tax consequences to Executive or the Company, the Company, in its sole discretion, reserves the right to treat the payment described in this clause (ii) as taxable compensation income.  
(b)Involuntary Termination Involving a Change in Control.  If Executive is subject to an Involuntary Termination which occurs within three months prior to, or twelve months following, a Change in Control and Executive satisfies the conditions described in Section 2(c) below, then Executive shall be entitled to the following severance benefits: (i) a lump-sum cash severance payment equal to twelve months of Executive’s Base Salary plus Executive’s target annual bonus; (ii) if Executive elects to continue health insurance coverage under the Consolidated Omnibus Budget Reconciliation Act (“COBRA”) following Executive’s termination of employment, then the Company will pay or reimburse the Executive for the full amount of all applicable COBRA premiums for Executive and Executive’s eligible dependents until the earliest of (a) the close of the 12-month period following Executive’s termination of employment, (b) the date Executive ceases to be eligible for COBRA continuation coverage for any reason, including plan termination, or (c) the date when Executive becomes eligible for substantially equivalent health insurance coverage in connection with new employment or self-employment; provided, that, if necessary to avoid adverse tax consequences to Executive or the Company, the Company, in its sole discretion, reserves the right to treat the payment described in this clause (ii) as taxable compensation income; and (iii) unless the Company provides otherwise when an equity award is granted, one hundred percent of the unvested portion of each outstanding equity award that Executive holds as of the Involuntary Termination will vest and, if applicable, become exercisable.  In the case of equity awards subject to performance conditions, the unvested portion of the award will be determined at the greater of actual performance or based on “target” levels of achievement. For avoidance of doubt, if Executive is subject to an Involuntary Termination that occurs within three months prior to a Change in Control, the portion of Executive’s then-outstanding and unvested equity awards that is eligible to vest and become exercisable pursuant to clause (iii) will remain outstanding for three months or the occurrence of a Change in Control, whichever is sooner, so that any additional benefits due pursuant to clause (iii) may be provided if a Change in Control occurs within three months after Executive’s Involuntary Termination, provided that in no event will any of Executive’s stock options remain outstanding beyond the option’s maximum term to expiration.  If a Change in Control does not occur within three months after an Involuntary Termination, any unvested portion of Executive’s equity awards that remained outstanding following Executive’s Involuntary Termination will immediately and automatically be forfeited.
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(c)Preconditions to Severance and Change in Control Benefits / Timing of Benefits.  As a condition to Executive’s receipt of any benefits described in Section 2, Executive shall execute and allow to become effective a general release of claims in substantially the form attached hereto and, if requested by the Company’s Board of Directors, must immediately resign as a member of the Company’s Board of Directors and as a member of the board of directors of any subsidiaries of the Company.  Executive must execute and return the release on or before the date specified by the Company, which will in no event be later than 50 days after Executive’s employment terminates.  If Executive fails to return the release by the deadline or if Executive revokes the release, then Executive will not be entitled to the benefits described in this section 2.  All such benefits will be paid or provided within 60 days after Executive’s Termination Without Cause or Involuntary Termination, as applicable, or if later on the date a Change in Control occurs.  If such 60 day period spans calendar years, then payment will in any event be made in the second calendar year.  
3.Section 409A.  The Company intends that all payments and benefits provided under this Agreement or otherwise are exempt from, or comply with, with the requirements of Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”) so that none of the payments or benefits will be subject to the additional tax imposed under Code Section 409A, and any ambiguities herein will be interpreted in accordance with such intent.  For purposes of Code Section 409A, each payment, installment or benefit payable under this Agreement is hereby designated as a separate payment.  In addition, if the Company determines that Executive is a “specified employee” under Code Section 409A(a)(2)(B)(i) at the time of Executive’s Separation, then (i) any severance payments or benefits, to the extent that they are subject to Code Section 409A, will not be paid or otherwise provided until the first business day following (A) expiration of the six-month period measured from Executive’s Separation or (B) the date of Executive’s death and (ii) any installments that otherwise would have been paid or provided prior to such date will be paid or provided in a lump sum when the severance payments or benefits commence.
4.Section 280G.  Notwithstanding anything contained in this Agreement to the contrary, in the event that the payments and benefits provided pursuant to this Agreement, together with all other payments and benefits received or to be received by Executive (“Payments”), constitute “parachute payments” within the meaning of Code Section 280G, and, but for this Section 4, would be subject to the excise tax imposed by Code Section 4999 (the “Excise Tax”), then the Payments shall be made to Executive either (i) in full or (ii) as to such lesser amount as would result in no portion of the Payments being subject to the Excise Tax (a “Reduced Payment”), whichever of the foregoing amounts, taking into account applicable federal, state and local income taxes and the Excise Tax, results in Executive’s receipt on an after-tax basis, of the greatest amount of benefits, notwithstanding that all or some portion of the Payments may be subject to the Excise Tax.  If a Reduced Payment is to be made under this section, reduction of Payments will occur in the following order:  reduction of cash payments, then cancellation of equity-based payments and accelerated vesting of equity awards, and then reduction of employee benefits.  If accelerated vesting of equity awards is to be reduced, such acceleration of vesting will be cancelled in the reverse order of the date of grant.  In the event that cash payments or other benefits are reduced, such reduction shall occur in reverse order beginning with the payments and benefits which are to be paid furthest away in time.  All determinations required to be made under this Section 4 (including whether any of the Payments are parachute payments and whether to make a Reduced Payment) will be made by an independent accounting firm selected by the Company.  For purposes of making the calculations required by this section, the accounting firm may make reasonable assumptions and approximations concerning applicable taxes and may rely on reasonably, good faith interpretations concerning the application of Code Sections 280G and 4999.  The Company will bear the costs that the accounting firm may reasonably incur in connection with the calculations contemplated by this Section 4.  The accounting firm’s determination will be binding on both Executive and the Company absent manifest error.
5.Company’s Successors.  Any successor to the Company to all or substantially all of the Company’s business and/or assets shall assume the Company’s obligations under this Agreement and agree expressly to perform the Company’s obligations under this Agreement in the same manner and to the same extent as the Company would be required to perform such obligations in the absence of a succession.
6.Miscellaneous Provisions.
(a)Modification or Waiver.  No provision of this Agreement may be modified, waived or discharged unless the modification, waiver or discharge is agreed to in writing and signed by Executive and by an authorized officer of the Company (other than Executive).  No waiver by either party of any breach of, or of compliance with, any condition or provision of this Agreement by the other party shall be considered a waiver of any other condition or provision or of the same condition or provision at another time.
(b)Integration.  This Agreement represents the entire agreement and understanding between the parties as to the subject matter herein and supersedes all prior or contemporaneous agreements, whether written or oral, with respect to the subject matter of this Agreement.
(c)Choice of Law.  The validity, interpretation, construction and performance of this Agreement shall be governed by the internal substantive laws, but not the conflicts of law rules, of the State of California.
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(d)Tax Withholding.  Any payments provided for hereunder are subject to reduction to reflect applicable withholding and payroll taxes and other reductions required under federal, state or local law.
(e)Notices.  Any notice required by the terms of this Agreement shall be given in writing.  It shall be deemed effective upon (i) personal delivery, (ii) deposit with the United States Postal Service, by registered or certified mail, with postage and fees prepaid or (iii) deposit with Federal Express Corporation, with shipping charges prepaid.  Notice shall be addressed to the Company at its principal executive office (attention General Counsel) and to the Executive at the address that he or she most recently provided to the Company in accordance with this Subsection (e).
(f)Severability.  The invalidity or unenforceability of any provision or provisions of this Agreement shall not affect the validity or enforceability of any other provision hereof, which shall remain in full force and effect.
(g)Counterparts.  This Agreement may be executed in counterparts, each of which shall be deemed an original, but all of which together will constitute one and the same instrument.
7.At-Will Employment.  Nothing contained in this Agreement shall (a) confer upon Executive any right to continue in the employ of the Company, (b) constitute any contract or agreement of employment, or (c) interfere in any way with the at-will nature of Executive’s employment with the Company.
8.Definitions.  The following terms referred to in this Agreement shall have the following meanings:
(a)“Base Salary” means Executive’s annual base salary as in effect immediately prior to a Termination Without Cause or Involuntary Termination; provided, however, that in the event of a Resignation for Good Reason due to a material reduction in Executive’s base salary, “Base Salary” means Executive’s annual base salary as in effect immediately prior to such reduction or as in effect immediately prior to a Change in Control, whichever is greater.
(b)“Cause” means (i) Executive’s unauthorized use or disclosure of the Company’s confidential information or trade secrets, which use or disclosure causes material harm to the Company, (ii) Executive’s material breach of any agreement with the Company, (iii) Executive’s material failure to comply with the Company’s written policies or rules, (iv) Executive’s conviction of, or plea of “guilty” or “no contest” to, a felony under the laws of the United States or any State, (v) Executive’s gross negligence or willful misconduct, (vi) Executive’s continuing failure to perform assigned duties after receiving written notification of the failure from the Company’s Board of Directors or (vii) Executive’s failure to cooperate in good faith with a governmental or internal investigation of the Company or its directors, officers or employees, if the Company has requested such cooperation.  In the case of clauses (ii), (iii) and (vii), the Company will not terminate Executive’s employment for Cause without first giving Executive written notification of the acts or omissions constituting Cause and a reasonable cure period of not less than 10 days following such notice to the extent such events are curable (as determined by the Company).  
(c)“Change in Control” means: 
(i)Any “person” (as such term is used in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)) becomes the “beneficial owner” (as defined in Rule 13d-3 of the Exchange Act), directly or indirectly, of securities of the Company representing more than 50% of the total voting power represented by the Company’s then-outstanding voting securities;
(ii)The consummation of the sale or disposition by the Company of all or substantially all of the Company’s assets;
(iii)The consummation of a merger or consolidation of the Company with or into any other entity, other than a merger or consolidation which would result in the voting securities of the Company outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by being converted into voting securities of the surviving entity or its parent) more than 50% of the total voting power represented by the voting securities of the Company or such surviving entity or its parent outstanding immediately after such merger or consolidation; or
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(iv)Individuals who are members of the Company’s board of directors  (the “Incumbent Board”) cease for any reason to constitute at least a majority of the members of the Company’s board of directors over a period of 12 months; provided, however, that if the appointment or election (or nomination for election) of any new board member was approved or recommended by a majority vote of the members of the Incumbent Board then still in office, such new member shall, for purposes of this Agreement, be considered as a member of the Incumbent Board.
A transaction shall not constitute a Change in Control if its sole purpose is to change the state of the Company’s incorporation or to create a holding company that will be owned in substantially the same proportions by the persons who held the Company’s securities immediately before such transaction.  In addition, if a Change in Control constitutes a payment event with respect to any amount which is subject to Code Section 409A, then the transaction must also constitute a “change in control event” as defined in Treasury Regulation Section 1.409A-3(i)(5) to the extent required by Code Section 409A.
(d)“Involuntary Termination” means either (i) a Termination without Cause or (ii) a Resignation for Good Reason.
(e)“Resignation for Good Reason” means a Separation as a result of Executive’s resignation from employment after one of the following conditions has come into existence without Executive’s consent:  (i) a substantial adverse change in the nature or scope of Executive’s responsibilities, authority, powers, functions or duties within or to the Company, (ii) a material reduction in Executive’s annual base salary from the base salary in effect immediately prior to the Change in Control, (iii) a substantial reduction in benefits other than across-the-board benefit reductions similarly affecting all or substantially all management employees of the Company or (iv) Executive’s required relocation to offices more than fifty (50) miles from Executive’s principal place of business immediately prior to the Change in Control.  In order to constitute a Resignation for Good Reason, Executive must give the Company written notice of the condition within 90 days after it comes into existence, the Company must fail to remedy the condition within 30 days after receiving Executive’s written notice and Executive must terminate his or her employment within 30 days after expiration of the cure period.
(f)“Separation” means a “separation from service” as defined in the regulations under Code Section 409A.
(g)“Termination Without Cause” means a Separation as a result of the termination of Executive’s employment by the Company without Cause and not as a result of Executive’s death or disability. 
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IN WITNESS WHEREOF, each of the parties has executed this Agreement, in the case of the Company by its duly authorized officer, as of the day and year indicated below.
                                                                     
						
	 COMPANY
		
	By:	/s/ Jon Stueve
		Name: Jon Stueve
		Title: SVP & General Counsel
		Date: February 1, 2021
		
	EXECUTIVE
		
	By:	/s/ Robert Glenn
		Name: Robert Glenn
		Title: EVP, Global Sales
		Date: February 1, 2021
		

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GENERAL RELEASE OF ALL CLAIMS
In consideration of the severance benefits to be paid to Robert Glenn (“Executive”) by Coupa Software Incorporated (the “Company”), as described in Paragraph 1 below, Executive, on Executive’s own behalf and on behalf of Executive’s heirs, executors, administrators and assigns, to the fullest extent permitted by applicable law, hereby fully and forever releases and discharges the Company and its directors, officers, employees, agents, successors, predecessors, subsidiaries, parent, shareholders, employee benefit plans and assigns (together called “the Releasees”), from all known and unknown claims and causes of action including, without limitation, any claims or causes of action arising out of or relating in any way to Executive’s employment with the Company, including the termination of that employment.
1.If Executive signs (and does not revoke) this General Release of All Claims (“Release”), the Company will provide Executive with the severance benefits described in Section 2 of the Amended and Restated Severance and Change in Control Agreement, effective as of the Effective Date (as defined therein), between the Company and Executive (the “Severance Agreement”).
2.Executive’s Company equity awards, to the extent vested and outstanding as of Executive’s employment termination date, will be treated as provided in the applicable equity plan and the related award agreements.  Such agreements will remain in effect in accordance with their terms, and Executive acknowledges that Executive will remain bound by them.  Any Company equity awards that are unvested as of Executive’s employment termination date will be automatically forfeited,1 and Executive will have no further rights to such awards.  Executive acknowledges that the enclosed report accurately reflects a summary of Executive’s outstanding equity awards.
3.Executive understands and agrees that this Release is a full and complete waiver of all claims including, without limitation, claims of wrongful discharge, constructive discharge, breach of contract, breach of the covenant of good faith and fair dealing, harassment, retaliation, discrimination, violation of public policy, defamation, invasion of privacy, interference with a leave of absence, personal injury or emotional distress and claims under Title VII of the Civil Rights Act of 1964, the Fair Labor Standards Act, the Equal Pay Act of 1963, the Americans With Disabilities Act, the Civil Rights Act of 1866, the Age Discrimination in Employment Act of 1967 (ADEA), the California Labor Code, the California Fair Employment and Housing Act, the California Fair Pay Act, the California Family Rights Act, the Family and Medical Leave Act, the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), the Workers Adjustment and Retraining Notification (“WARN”) Act, the California WARN Act, or any other federal or state law or regulation relating to employment or employment discrimination.  Executive further understands and agrees that this waiver includes all claims, known and unknown, to the greatest extent permitted by applicable law.  However, this release covers only those claims that arose prior to the execution of this Release.  Execution of this Release does not bar any claim that arises hereafter, including (without limitation) a claim for breach of this Release.  In addition, this Release does not cover any claim for indemnification Executive may have pursuant to the Company’s bylaws or applicable law or Executive’s right to coverage under any applicable D&O insurance policy with the Company.
Executive understands that this Release does not limit Executive’s ability to file a charge or complaint with the Equal Employment Opportunity Commission, the Securities and Exchange Commission or any other federal, state or local governmental agency or commission (each, a “Government Agency”).  Executive further understands that this Release does not limit Executive’s ability to communicate with, or otherwise participate in any investigation or proceeding that may be conducted by, a Government Agency.  However, to the fullest extent permitted by law, Executive agrees that Executive is waiving the right to monetary damages or other equitable or monetary relief as a result of any such charge, complaint, investigation or proceeding.
4.Executive also hereby agrees that nothing contained in this Release shall constitute or be treated as an admission of liability or wrongdoing by the Releasees or Executive.
5.In addition, Executive hereby expressly waives any and all rights and benefits conferred upon Executive by the provisions of Section 1542 of the Civil Code of the State of California, which states as follows:
A general release does not extend to claims that the creditor or releasing party does not know or suspect to exist in his or her favor at the time of executing the release and that, if known by him or her, would have materially affected his or her settlement with the debtor or released party.
6.If any provision of this Release is found to be unenforceable, it shall not affect the enforceability of the remaining provisions and the court shall enforce all remaining provisions to the full extent permitted by law.

1 Modify in case of an involuntary termination three months prior to a change in control. 
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7.This Release constitutes the entire agreement between Executive and Releasees with regard to the subject matter of this Release.  It supersedes any other agreements, representations or understandings, whether oral or written and whether express or implied, which relate to the subject matter of this Release.  Executive understands and agrees that this Release may be modified only in a written document signed by Executive and a duly authorized officer of the Company.
8.Executive understands and agrees that the Company shall have no obligation to provide to Executive any severance benefits described in the Severance Agreement unless and until Executive has complied with the requirements described in Section 2(c) of the Severance Agreement, including executing this Release within the time period specified in Paragraph 14 below.  
9.Executive understands and agrees that at all times in the future Executive shall remain bound by the Executive’s Proprietary Information and Inventions Agreement with the Company and Mutual Agreement to Arbitrate, copies of which are enclosed herewith. [List any other agreements that should survive termination of employment.]
10.[Intentionally omitted.]
11.Executive agrees that Executive will never make any negative or disparaging statements (orally or in writing) about the Company or its stockholders, directors, officers, employees, products, services or business practices, except as required by law. The Company agrees to instruct its executive officers and directors not to disparage Executive in any manner likely to be harmful to Executive’s personal or business reputation; provided that the Company (and its executive officers and directors) may respond accurately and fully to any question, inquiry or request for information when required by legal process.
12.This Release shall be governed by and its provisions interpreted under the laws of the state of California.
13.Executive represents that Executive has returned to the Company all property belongs to the Company, including (without limitation) copies of documents that belong to the Company and files stored on Executive’s computer(s) that contain or embody business, technical or financial information that Executive has developed, learned or obtained during the term of Executive’s service to the Company that relate to the Company or the business or demonstrably anticipated business of the Company, except that Executive may keep his or her personal copies of (i) his or her compensation records and (ii) materials distributed to stockholders generally.
14.Executive understands that Executive has the right to consult with an attorney before signing this Release.  Executive also understands that Executive has 21 days after receipt of this Release to review and consider this Release, discuss it with an attorney of Executive’s own choosing, and decide to execute it or not execute it.  Executive also understands that Executive may revoke this Release during a period of 7 days after Executive signs it and that this Release will not become effective for seven days after Executive signs it (and then only if Executive does not revoke it).  In order to revoke this Release, within seven days after Executive executes this Release Executive must deliver to the General Counsel at the Company a letter stating that Executive is revoking it.  Executive understands that if Executive chooses to revoke this Release within seven days after Executive signs it, Executive will not receive any severance benefits and the Release will have no effect. 
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15.Executive states that before signing this Release, Executive:
•Has read it,
•Understands it,
•Knows that he or she is giving up important rights,
•Is aware of his or her right to consult an attorney before signing it, and
•Has signed it knowingly and voluntarily.
												
	Date:			
				
				     Signature
				
				
				
				     Print Full Name

Enclosures:
Equity Report
Proprietary Information and Inventions Agreement
Mutual Agreement to Arbitrate
[LIST ANY OTHERS]
8Exhibit 10.3

 

	Daxin Wealth Investment Management (Shanghai) Co., Ltd.	Exclusive Business Cooperation Agreement

 

Exclusive
Business Cooperation Agreement 

 

THIS EXCLUSIVE BUSINESS COOPERATION AGREEMENT
(this “Agreement”) is entered into by and between the following parties on this 9th day of March, 2020 in Shanghai,
the People’s Republic of China (hereinafter referred to as the “PRC”, and, for the purpose of this Agreement,
excluding Hong Kong SAR, Macau SAR and Taiwan):

 

Party A: Shanghai Santeng Technology Co., Ltd.

Legal representative: LU Qiaoling

Registered address: Room 121, 14/F, Building No.2,
No.588 Zixing Road, Minhang District, Shanghai

 

Party B: Daxin Wealth Investment Management
(Shanghai) Co., Ltd.

Legal representative: LU Yongxiang

Registered address: Room 2030, Building No.8,
No.1630 Yecheng Road, Jiading Industrial Zone, Shanghai

 

In this Agreement, Party A and Party B are hereinafter
collectively referred to as the “Parties” and individually a “Party”.

 

WHEREAS:

 

		1.	Party A is a wholly foreign-owned enterprise duly established and validly existing in the PRC.

 

		2.	Party B is a limited liability company established and validly existing in the PRC, and all the business
activities conducted and developed by Party B and its subsidiaries and branches (including subsidiaries and branches wholly owned or controlled
by Party B) either at present or at any time within the term of this Agreement are collectively referred to as the “Principal
Business”;

 

		3.	Party A agrees to use its advantage in technology, personnel and information advantages to provide Party
B and its subsidiaries and branches with exclusive technical support, consulting and other services in relation to the Principal Business
during the term of this Agreement, and Party B agrees to accept the various services to be provided by Party A or its designated party
on terms of this Agreement.

 

     

     

    

 

	Daxin Wealth Investment Management (Shanghai) Co., Ltd.	Exclusive Business Cooperation Agreement

 

Article 1 Provision of Service

 

		1.1	In accordance with the terms and conditions of this Agreement, Party B hereby appoints Party A as the
exclusive service provider of Party B to provide Party B with comprehensive technical support, consulting service and other services during
the term of this Agreement, including but not limited to the following:

 

		(1)	licensing Party B to use the relevant software and trademarks in/to which Party A owns lawful rights;

 

		(2)	development, maintenance and updates of relevant application software necessary for Party B’s business;

 

		(3)	design, installation, daily management, maintenance and update of the computer network systems, hardware
device and database;

 

		(4)	providing Party B’s relevant personnel with technical support and professional training;

 

		(5)	assisting Party B in the enquiry, collection and survey of relevant technical and market information (excluding
the market research which wholly foreign-owned enterprises are not allowed to conduct under the PRC laws);

 

		(6)	offering business management consultation to Party B;

 

		(7)	rendering marketing and promotion services to Party B;

 

		(8)	rendering customer order management and customer services to Party B;

 

		(9)	providing Party B with services in connection with investment, financing, risk control and other aspects;

 

		(10)	offering financial, legal and other advices and supports to Party B;

 

		(11)	assist Party B in the transfer, lease and disposition of equipment and assets; and

 

		(12)	other relevant services to be offered from time to time at Party B’s request to the extent permitted
by the PRC laws.

 

		1.2	Party B accepts the services to be provided by Party A. Party B further agrees that, except with the prior
written consent of Party A, during the term of this Agreement, in respect of the services or other matters agreed herein, Party B shall
not directly or indirectly receive any services identical or similar to those specified herein from any third party, nor establish any
similar cooperation relationship with any third party with respect to the matters covered by this Agreement. Both Parties agree that Party
A may designate another party (such designated party may sign certain agreements as described in Clause 1.5 hereof with Party B) to provide
Party B with the services support agreed herein.

 

		1.3	Party A shall have the right to check Party B’s accounts either on a regular basis or at any time,
and Party B shall keep books and records in a timely and accurate manner and deliver its accounts to Party A at Party A’s request.
Subject to compliance with applicable laws, during the term of this Agreement, Party B agrees to cooperate with Party A and its shareholders
(including direct or indirect ones) in auditing (including but not limited to the audit of related transactions and other various audits)
and to provide Party A, its shareholders and/or entrusted auditors with information and materials in connection with the operation, business,
clients, finance, employee and other relevant information of Party B and its subsidiaries and branches, and consents to the disclosure
of such information and materials by Party A’s shareholders for the purpose of satisfying the regulatory requirements on the IPO.

 

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	Daxin Wealth Investment Management (Shanghai) Co., Ltd.	Exclusive Business Cooperation Agreement

 

		1.4	When Party B enters into liquidation or dissolution for any reason, Party B shall, to the extent permitted
by the PRC laws, appoint those persons recommended by Party A to form a liquidation team to manage the properties of Party B and its subsidiaries
and branches. Party B acknowledges and confirms that, in the event of a liquidation or dissolution of Party B, Party B agrees to deliver
to Party A all the remaining properties acquired from the liquidation of Party B in accordance with the laws and regulations of the PRC,
regardless of whether the agreements herein can be performed or not.

 

		1.5	Service Providing Methodology

 

		1.5.1	Party A and Party B agree that, within the term of this Agreement, Party B may, where necessary, enter
into further service agreements with Party A or any other party designated by Party A (as applicable), which shall set out the specific
contents, manner, personnel and fees for the various services.

 

		1.5.2	In order to ensure Party B meets the cash-flow requirements in its ordinary business course and/or to
set off any losses that may arise from its operations, Party A shall, if required by the actual condition, provide Party B with the financial
support (but only to the extent and in the manner permitted under the PRC law), and Party A agrees not to claim for the same against Party
B. Party A may offer financial support to Party B by means of bank entrusted loan or other appropriate methods, and enter into necessary
agreements separately.

 

		1.5.3	In order to perform this Agreement, Party A and Party B agree that Party B will, where necessary, enter
into equipment or property leases with Party A or any other party designated by Party A at any time during the term of this Agreement
in accordance with the needs of the business progress, so that Party A will provide relevant equipment and assets to Party B for use

 

		1.5.4	Party B hereby grants to Party A an irrevocable and exclusive option to purchase from Party B, at Party
A’s sole discretion, any or all of the assets of Party B, to the extent permitted under the PRC laws and regulations, at the lowest
purchase price permitted by the PRC laws, regulations and relevant rules. In this case, the Parties shall enter into a separate assets
transfer agreement, specifying the terms and conditions of the transfer of the assets.

 

Article 2 Price and Payment
Method of the Services

 

		2.1	The service fee hereunder shall be at a reasonable price to be determined as per the scope and nature
of the services and will be set out in a service agreement to be further signed by the parties thereto. The service fee shall be a sum
equal to 100% of the total consolidated profits of Party B in any fiscal year, setting off the accumulated loss (if any) of Party B and
its subsidiaries and branches in the previous fiscal year and net of the working capital, expenses, taxes and other statutory contributions
required in any fiscal year. Notwithstanding the foregoing, Party A may, at its sole discretion, adjust the coverage and amount of the
service fee in accordance with the tax regulations and tax practices of the PRC and by reference to Party B’s needs for working
capitals, and Party B and its subsidiaries and branches shall accept such adjustment.

 

		2.2	Party A will calculate the service fee on a quarterly basis and issue corresponding VAT special invoice
to Party B at the tax rate specified in the prevailing VAT laws of the PRC. Party B shall, within 10 business days upon receipt of the
invoice, pay the service fee to the bank account designated by Party A, and send a copy of the payment proof to Party A by fax or email
within 10 business days after such payment. Party A shall issue a receipt within 10 working days after its receipt of the service fees.
Notwithstanding the foregoing, Party A may, at its discretion, adjust the time and method for payment of the service fee. Party B shall
accept such adjustment.

 

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	Daxin Wealth Investment Management (Shanghai) Co., Ltd.	Exclusive Business Cooperation Agreement

 

Article 3 Intellectual
Properties and Confidentiality

 

		3.1	Party A shall have proprietary and exclusive ownership, rights and interests in any and all intellectual
properties arising out of or created during the performance of this Agreement, including but not limited to copyrights, patents, patent
applications, software, know-hows, trade secrets and others. Party B shall execute all such appropriate documents, take all such appropriate
actions, deliver all such documents and/or applications, provide all such appropriate assistances, and do all such other acts, as Party
A shall determine at its sole discretion to be necessary to confer such ownerships, rights and interests in such intellectual properties
to Party A and/or to perfect the protection of such intellectual property rights of Party A.

 

		3.2	The Parties acknowledge and confirm that this Agreement, its contents and any oral or written information
exchanged between the Parties in connection with the preparation and performance of this Agreement shall be deemed to be confidential
information. The Parties shall maintain confidentiality of all such confidential information, and shall not disclose any confidential
information to any third party without the written consent of the other Party, except for the information which: (a) is or will be known
to the public (without the unauthorized disclosure by the receiving Party); (b) is required to be disclosed under the applicable laws
or regulations, stock trading rules, or orders of governmental authorities or courts; or (c) is required to be disclosed by either Party
to its shareholders, directors, supervisors (if any), employees, legal counsels or financial advisors for the transactions contemplated
hereunder, provided that such shareholders, directors, supervisors (if any), employees, legal counsels or financial advisors shall be
subject to the confidentiality obligations similar to those set forth in this Article. Any disclosure of confidential information by a
shareholder, director, supervisor (if any) or employee of either Party or any agencies hired by it shall be deemed as a disclosure of
such confidential information by such Party, which shall be liable for breach of agreement in accordance with this Agreement.

 

Article 4 Representations
and Warranties

 

		4.1	Party A represents, warrants and undertakes that:

 

		4.1.1	it is a wholly foreign-owned enterprise duly established and validly existing under the laws of the PRC,
and that Party A or its designated service provider will obtain all the governmental permits and licenses necessary for the provision
of the services hereunder prior to its provision of such services;

 

		4.1.2	Party A has taken necessary corporate actions, obtained necessary authorizations, and obtained necessary
consents and approvals from any third parties and government agencies (if any) to execute, deliver and perform this Agreement, and that
Party A’s execution, delivery and performance of this Agreement do not and will not violate any explicit provisions of laws and
regulations; and

 

		4.1.3	this Agreement constitutes Party A’s legal, valid and binding obligations, which are enforceable
against it in accordance with the terms of this Agreement.

 

		4.2	Party B represents, warrants and undertakes that:

 

		4.2.1	it is a company duly established and validly existing under the laws of the PRC, and has obtained and
will maintain all the governmental permits and licenses necessary for the Principal Business;

 

		4.2.2	Party B has taken necessary corporate actions, obtained necessary authorizations, and obtained necessary
consents and approvals from any third parties and government agencies (if any) to execute, deliver and perform this Agreement, and that
Party B’s execution, delivery and performance of this Agreement do not and will not violate any explicit provisions of laws and
regulations; and

 

		4.2.3	this Agreement constitutes Party B’s legal, valid and binding obligations, which are enforceable
against it in accordance with the terms of this Agreement.

 

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	Daxin Wealth Investment Management (Shanghai) Co., Ltd.	Exclusive Business Cooperation Agreement

 

Article 5 Effective Term
of the Agreement

 

		5.1	The Parties acknowledge and confirm that this Agreement shall come into force after being officially signed
by the Parties, and shall be retroactive to January 1, 2018, which means this Agreement shall be binding upon the Parties on and from
January 1, 2018, whereupon the Parties shall have all rights hereunder and perform all the obligations hereunder. Unless terminated as
expressly specified herein or upon Party A’s written decision, this Agreement shall be permanently effective.

 

		5.2	If either Party’s business term expires during the effective term of this Agreement, such Party
shall timely extend its business term to enable this Agreement to remain effective and performable. If either Party’s application
for extension of its business term is not approved or consented by any competent authorities, this Agreement shall be terminated upon
the expiration of such Party’s business term.

 

		5.3	The Parties’ rights and obligations under Articles 3, 6, 7 and 5.3 hereof shall survive any termination
of this Agreement.

 

Article 6 Governing Law
and Dispute Resolution

 

		6.1	The conclusion, effectiveness, interpretation and performance of this Agreement and the resolution of
disputes hereunder shall be governed by and construed in accordance with the laws of the PRC.

 

		6.2	In the event of any dispute arising from the performance of this Agreement or in connection with this
Agreement, either Party may submit the dispute to Shanghai International Economic and Trade Arbitration Commission for arbitration in
Shanghai in accordance with its arbitration procedures and rules then in effect. The arbitration tribunal shall consist of three arbitrators
to be appointed in accordance with the arbitration rules. The claimant and the respondent shall respectively appoint one arbitrator, and
the third arbitrator shall be appointed by the first two arbitrators through negotiations. The arbitration proceedings shall be conducted
in Chinese in a confidential manner. The arbitration award shall be final and binding upon the parties thereto. Subject to provisions
of the PRC laws, the arbitration tribunal or arbitrators may award remedial measures in respect of Party B’s equities or assets
in accordance with the dispute resolution clause and/or applicable PRC laws, including restriction on conduct of business, restriction
or prohibition of transfer or sale of equities or assets, or proposal for the winding-up of Party B. In addition, in the course of forming
the tribunal, Party A shall have the right to file an application to any court with competent jurisdiction (including courts in the PRC,
Hong Kong and Cayman Islands) for the grant of temporary reliefs.

 

		6.3	During the pending arbitration of any dispute, other than those which are under dispute and subject to
arbitration, the Parties shall continue to own their respective rights under this Agreement and perform their respective obligations hereunder.

 

Article 7Liability for
Breach of Agreement and Indemnity 

 

		7.1	If Party B commits a material breach of any terms hereunder, Party A shall have the right to terminate
this Agreement and/or request Party B to make compensation for the damages, and this Article 7.1 shall not prejudice or affect any other
rights of Party A under this Agreement.

 

		7.2	Unless otherwise provided by laws, Party B shall in no event have the right to terminate or rescind this
Agreement.

 

		7.3	Party B shall indemnify and hold harmless Party A from any losses, damages, liabilities or expenses caused
by any lawsuit, claims or other demands against Party A arising from or caused by the services provided by Party A to Party B pursuant
this Agreement, except where such losses, damages, liabilities or expenses arise from the gross negligence or willful misconduct of Party
A.

 

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	Daxin Wealth Investment Management (Shanghai) Co., Ltd.	Exclusive Business Cooperation Agreement

 

Article 8 Force Majeure

 

		8.1	If either Party’s failure to perform or completely perform this Agreement is directly caused by
earthquake, typhoon, flood, fire, epidemic, war, strike or any other force majeure event which is unforeseeable and cannot be prevented
or avoided by the affected Party (the “Force Majeure Event”), such Party shall not be liable for such failure or partial
failure to nonperformance or partial nonperformance of this Agreement, provided that the affected Party shall immediately serve a written
notice to the other Party without delay and provide the other Party with details of such Force Majeure Event within fifteen days from
the delivery of the foresaid written notice to explain the reasons of such failure, partial failure or delay of performance.

 

		8.2	If the Party claiming Force Majeure Event fails to notify the other Party and provide appropriate proofs
as specified in the above article, it shall not be exempted from the liability for its failure to perform its obligations hereunder. The
affected Party shall make reasonable efforts to mitigate the consequence of the Force Majeure Event and resume its performance of all
relevant obligations as soon as possible after the Force Majeure Event ends. If the affected Party fails to resume its performance of
relevant obligations after the cause for its temporary exemption from relevant performance of obligations eliminates, such Party shall
be liable to the other Party for such failure.

 

		8.3	When a Force Majeure Event occurs, the Parties shall immediately negotiate with each other with an aim
to reach an equitable solution, and shall make all reasonable efforts to minimize the consequence of such Force Majeure Event to the maximum
possible extent.

 

Article 9 Notices 

 

		9.1	All notices and other communications required or given under this Agreement shall be delivered or sent
to the receiving Party by way of personal delivery, registered mail (postage prepaid), commercial courier service or facsimile transmission.
Each notice shall also be sent by email. Each notice shall also be sent by email. The dates on which such notices shall be deemed to have
been effectively given shall be determined as follows:

 

		9.1.1	Notices given by personal delivery (including express mail service) shall be deemed effectively given
on the day when an acknowledgement of receipt thereof is signed.

 

		9.1.2	Notices given by registered mail (postage prepaid) shall be deemed effectively given on the 15th
day after the date of the return receipt thereof.

 

		9.1.3	Notices given by facsimile transmission shall be deemed effectively given on the date of transmission
as shown on the facsimile, provided that, if such facsimile is given after 5pm or on a non-business day at the place of receipt, it shall
be deemed given on the business day immediately following the transmission date shown on such facsimile.

 

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	Daxin Wealth Investment Management (Shanghai) Co., Ltd.	Exclusive Business Cooperation Agreement

 

Article 10 Transfer of
Agreement 

 

		10.1	Party B shall not transfer its rights and obligations under this Agreement to any third party unless with
Party A’s prior written consent.

 

		10.2	Party B hereby agrees that Party A may transfer its rights and obligations hereunder to any third party,
and that Party A will only need to send a written notice to Party B upon occurrence of such transfer and will not be required to obtain
the consent of Party B for the transfer.

 

Article 11 Miscellaneous

 

		11.1	Unless otherwise specified, the terms of this Agreement in connection with Party B’s rights and
obligations shall also apply to Party B’s subsidiaries and branches.

 

		11.2	In the event that one or more provisions of this Agreement are held to be invalid, illegal or unenforceable
in any aspect under any laws or regulations, the validity, legality or enforceability of the remaining provisions of this Agreement shall
not be affected or impaired in any aspect. The Parties shall, through negotiations in good faith, strive to replace such invalid, illegal
or unenforceable provisions with valid provisions which accomplish the intentions of the Parties to the greatest extent permitted by laws,
and the economic effect of such valid provisions shall be as close as possible to the economic effect of those invalid, illegal or unenforceable
provisions.

 

		11.3	The Parties may amend and supplement this Agreement by means of written agreement. Any amendment or supplementary
agreement to this Agreement executed by the Parties shall be an integral part hereof, and have the same legal effect as this Agreement.

 

		11.4	This Agreement is made in duplicate, with each Party holding one counterpart hereof. Each counterpart
of this Agreement shall have the same legal effect.

 

(THE REMAINDER OF THIS PAGE IS INTENTIONALLY
LEFT BLANK)

 

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	Daxin Wealth Investment Management (Shanghai) Co., Ltd.	Exclusive Business Cooperation Agreement

 

(Signature
Page of the Exclusive Business Cooperation Agreement)

 

Party A: 

 

Shanghai Santeng Technology Co.,
Ltd. (official seal)

 

		By:	LU Qiaoling

Its Legal or Authorized
Representative

 

Dated this 9th day of March, 2020

 

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	Daxin Wealth Investment Management (Shanghai) Co., Ltd.	Exclusive Business Cooperation Agreement

 

(Signature
Page of the Exclusive Business Cooperation Agreement)

 

Party B: 

 

Daxin Wealth Investment Management
(Shanghai) Co., Ltd. (official seal)

 

		By:	LU Yongxiang

Its Legal or Authorized
Representative

 

Dated this 9th day of March, 2020

 

 

9

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