Document:

Exhibit 10.1

 

Acquisition
Agreement

 

Contract
No.: HB-2019-06-25

 

		Transferor:	Hebei Tengsheng Paper Co.,
Ltd

(Hereinafter
referred to as Party A)

 

		Transferee:	Hebei Baoding Dongfang Paper
Milling Co., Ltd

(Hereinafter
referred to as Party B)

 

Through
friendly negotiation, in line with the principles of equality, voluntariness, compensation and good faith, the two parties have
reached the following agreement on the acquisition of 100% equity and all assets:

 

Item
I Basic Information of Acquisition 

 

		1.	Party A
                                         is a limited liablity company established and validly existing on April 07, 2011 in accordance
                                         with The Company Law Of The People’s Republic Of China and other relevant
                                         laws and regulations. Its registered capital is RMB 50 million. The legal representative
                                         is Jie Ping.

 

		2.	Party A
                                         owns 100% equity of Hebei Tengsheng Paper Co., Ltd. As of the date of signing this agreement,
                                         all shareholders of Party A have paid all the investment in full amount and legally own
                                         all and complete rights of the company in accordance with the relevant laws, regulations
                                         and The Articles Of Association.

 

		3.	Party A
                                         intends to transfer its company to Party B through the manner of transfering 100% equity
                                         and all assets; Party B agrees to acquire 100% equity and all asstes held by Party A
                                         in accordance with the terms of this agreement, and Party B should be entitled 100% of
                                         the equity and corresponding shareholder rights of Hebei Tengsheng Paper Co., Ltd after
                                         acquiring the above mentioned equity and assets.

 

Item
II Status fo Relevant Rights

 

		1.	Party A
                                         confirms that it legally owns 100% equity and all the assets to be acquired under this
                                         agreement;

 

		2.	Party A
                                         will not file for registration of changes with Administration of the industry and commerce
                                         and its management will remain unchanged, and Party B will entrust Party A to continue
                                         production and operation management. Party B entrusts the former legal representative
                                         and executive director of Party A to act on behalf of Party B as its legal representative
                                         and executive director; Party B entrusts original shareholders Ping Jie and Ma Yundong
                                         to hold all the equity on its behalf (see Power of Attorney attached hereto as Appendix
                                         1).

 

     

     

    

 

Item
III The Term of Acquisition

 

		1.	The acquisition
                                         period of 100% equity and all assets mentioned in this contract is permanent with no
                                         time limit. After this contract takes effect, 100% equity and all assets of Party A should
                                         belong to Party B, whose legitimate rights and interests are protected by national laws.

 

		2.	Unless
                                         otherwise provided in this contract, Party A should not withdraw 100% equity and all
                                         assets during the acquisition period.

 

Item
IV Price of Acquisition 

 

		1.	The two
                                         parties confirm that the total acquisition price of 100% equity and all assets involved
                                         in this agreement is RMB 320 million (Say Three Hundred and Twenty Million Yuan Only),
                                         and should be paid within six months after the agreement signed.

 

		2.	After signing
                                         this agreement, the permission to increase or decrease the registered capital(?) by Party
                                         B shall have nothing to do with Party A, and should not be used as the basis for increasing
                                         or decreasing the acquisition amount paid by Party B to Party A.

 

Item
VPayment Term

 

		1.	Payment

 

(1)
Within 6 months upon execution of this Agreement, Party B must pay in full the acquisition price of RMB 320
million.

 

(2)
If the acquisition price is not paid in full on time, the remaining balance shall be charged an annual interest rate of 14%
until fully paid; Party A may also accept the shares of stock of the listed company IT Tech Packaging Inc. IF the acquisition
price has not been paid in full AND the stock of IT Tech Packaging Inc. has reached $6 per share; [in such case] the
remaining balance of the acquisition price shall be converted to the corresponding number of shares at $5 per share and such
number of shares must be transferred by Party B to Party A or Party A’s designee.

 

		2.	Party A must issue legal
receipt of payment to Party B upon receiving Party A’s payment.

 

    2

     

    

 

Item
VI Legal Status of The Acquisition

 

		1.	Rights
                                         and obiligations of 100% equity and all the assets should be transferred to Party B upon
                                         the agreement signed.

 

		2.	Party
                                         A should guarantee that the agreeed equity and assets bear no legal defects, and that
                                         Party B should not face the risk of right obstacles and alike after the acquisition finished.

 

		3.	Party
                                         A should guarantee that the background of such equity and assets and the actual situation
                                         of Hebei Tengsheng Paper Co., Ltd have been truthfully disclosed to Party B, without
                                         concealing any conditions that might adversely effect Party B’s exercise of the
                                         equity rights.

 

		4.	All the
                                         representations, illustrations, assurance, promises and documents displayed and transferred
                                         to Party B are true and valid, without any falsehood, fabrication, concealing and omittance.

 

Item
VII Responsibility of Default

 

		1.	In accordance
                                         with the provision hereof, Party B should pay all payments required for the aquistion
                                         of 100% equity and all assets on time. It is deemed default if Party B fails to pay on
                                         time, and Party A has the right to teminate this agreement.

 

		2.	Upon
                                         the signatures and prepayment received, Party A should perform its obligations hereunder
                                         and actively cooperate with Party B. If this agreement cannot be performed due to any
                                         reason on Party A’s part, it shall be considered default and Party A should bear
                                         the losses caused to Party B and pay 5% default penalty and return the payments made
                                         to Party B.

 

Item
VII Others

 

		1.	Any dispute
                                         arising from or in connection with this agreement should be settled amicably by the parties
                                         hereto through negotiation. If no agreement is reached through negotiation, both parties
                                         may file a lawsuit in the people’s court at the place where the agreement is signed.

 

		2.	This
                                         Agreement is in quadruplicate and each party has two copies with the same legal effect.

 

		3.	For outstanding
                                         issues, supplemental agreements with equal legal effect should be signed upon written
                                         consent from the two parties.

 

		4.	This
                                         Agreement becomes into effect upon the signatures of both parties.

 

    3

     

    

 

	Party A (Seal)	 	Party B (Seal)
	 	 	 
	Hebei Tengsheng Paper Co., Ltd.	 	Hebei Baoding Dongfang Paper Milling Co., Ltd.
	Legal Person: /s/ PING Jie	 	Legal Person: /s/ [not legible]
	 	 	 
	Entrusted Agent:	 	Entrusted Agent:
	Date: June 25, 2019	 	Date: June 25, 2019

 

(This page
is the annex 1 of The “Acquisition Agreement” entered into between Hebei Tengsheng Paper Co.,Ltd and Hebei Baoding
Dongfang Paper Milling Company., Ltd, Contract No. HB-2019-06-25 )

 

Annex
1: Power of Attorney

 

This
is to certify that, on June 25, 2019, our Company reached an agreement with Hebei Tengsheng Paper Co., Ltd on the acquisition
affaires of the enterprise, and signed the “Acquisition Agreement”. The contract NO. is HB-2019-06-25. The company
has decided to entrust Jie Ping (ID No.: 130602198002200614), the former legal representative of Hebei Tengsheng Paper Co., Ltd,
to continue to serve as the Company’s legal representative and executive director; and entrust the original shareholders
of Hebei Tengsheng Paper Co., Ltd, Jie Ping and Yundong Ma, to hold all the equity on behalf of the Company.

 

	 	Hebei Baoding Dongfang Paper Milling Company., Ltd
	 	 
	 	Date: June 25, 2019Exhibit

Exhibit 10.1

RPT REALTY

Performance Share Unit Award Notice
Under the 2019 Omnibus Long-Term Incentive Plan

THIS PERFORMANCE SHARE AWARD NOTICE, dated as of [DATE], sets forth the terms of a grant of performance shares by RPT Realty, a real estate investment trust organized in Maryland (the “Trust”), to the Participant named below. 
 
WHEREAS, the Trust has adopted the 2019 Omnibus Long-Term Incentive Plan (the “Plan”) to enhance the ability of the Trust to attract and retain highly qualified employees and to motivate those employees to improve the business results of the Trust; and 
 
WHEREAS, the Committee has determined to grant to the Participant an award of Performance Shares as provided herein to encourage the Participant’s efforts toward the continuing success of the Trust. 
 
The Trust grants to the Participant an award on the following terms and subject to the following conditions: 

		
	1.
	Grant by the Trust.  The Trust grants to the Participant a Performance Share Unit Award as set forth below (the “Award”), pursuant to and subject to the all of the terms and conditions of this Award and the Plan, the provisions of which are incorporated herein. Subject to the terms and conditions hereof, payment with respect to vested Awards shall be made in the form of common shares of beneficial interest of the Trust (the “Shares”).  Capitalized terms not defined herein have the meanings ascribed to such terms in the Plan.

	
		
	AWARD SUMMARY

	Name of Participant:
	 

	Target Number of Shares:
	 

	Grant Date:
	[DATE] 

	Performance Period:
	[DATE] through [DATE]

 
		
	2.
	Performance Objective.  Shares shall be earned based on the achievement of Total Shareholder Return of the Trust as compared to the Total Shareholder Returns achieved by a group of peer companies (the “Peer Group”) whose shares are expected to be impacted by the same economic factors and secular trends as the Trust, with the result expressed as a percentile (where the Trust is considered to be part of the Peer Group).  The applicable Peer Group for the Performance Period is the group of publicly traded shopping center REITs listed on the attached Appendix A.  “Total Shareholder Return” shall be defined as the increase in value of a fixed amount invested in the common shares of an entity, taking into account both stock price appreciation and dividends or other distributions, during the Performance Period (dividends are calculated as if they are reinvested in a company’s stock as of the ex-dividend date based on such date’s closing stock price).  In determining the value of shares at the beginning and end of the Performance Period, the Committee shall use the average closing price for the twenty (20) trading days ending on the beginning and end of the Performance Period.  

		
	3.
	Peer Group Adjustments.  Any company in the Peer Group that files for bankruptcy protection shall be placed at the bottom of the Peer Group.  Any company in the Peer Group that is acquired and is no longer separately trading will be excluded from the Peer Group, and the size of the Peer Group will be reduced by one.  No changes to the Peer Group will be made as a result of an acquisition or divestiture by a company in the Peer Group of a portion of its business, as such events are generally considered to be part of the ordinary course of business; however, in the instance where a peer company has entered an agreement to be acquired and such transaction has not yet been consummated at the end of the Performance Period, such peer company will be excluded from results as if it had already been acquired.  

		
	4.
	Determination of Award and Notice.  As soon as possible after the end of the Performance Period, but in no event later than March 15 of the year following the end of the Performance Period, the Compensation Committee of the Board of Trustees (the “Committee”) will certify in writing whether and to what extent the performance measure has been achieved for the Performance Period and determine the number of shares, if any, to be issued to the Participant in accordance with the matrix set forth in Appendix A; provided, that, if the Committee certifies that the performance measure has been met, the Committee may, in its sole discretion, modify the number of shares to be issued to the Participant with respect to the Award. The date of the Committee’s certification pursuant to this Section 4 shall hereinafter be referred to as the “Certification Date.” The Trust 

will notify the Participant of the Committee’s certification promptly following the Certification Date.  Shares shall be issued to the Participant within ten days of the Certification Date.

In the event Participant is entitled to receive more than 500,000 shares in any one calendar year, such shares in excess of the 500,000 share limit shall be settled in cash based on the value of a share on the Certification Date, payable to the Participant in accordance with this Section 4 and subject to applicable withholding.
		
	5.
	Forfeiture of Award Prior to Certification Date.  Except as provided by the Committee or as otherwise provided in this Award Agreement, the Participant will not be entitled to any issuance of shares with respect to the Award if the Participant is not, for any reason, employed by the Trust or an Affiliate of the Trust on the Certification Date; provided that (a) in the event of the Participant’s termination of employment due to death or Disability prior to the Certification Date, such Award will not be forfeited and will vest based on actual performance as determined by the Committee in normal course on the Certification Date, (b) in the event of Participant’s Retirement prior to the Certification Date, such Award will not be forfeited and will vest based on actual performance as determined by the Committee in normal course on the Certification Date; provided, that such Award was granted at least one year prior to the date of the Participant’s Retirement, or (c) in the event of a termination of employment for other reasons when it finds that such treatment would be in the best interests of the Trust, the Committee may, in its sole discretion, determine that such Award may not be forfeited and may vest based on actual performance as determined by the Committee in normal course on the Certification Date.   

		
	6.
	Change in Control.  In the event of a Change in Control where the Award is assumed or substituted by the successor/acquirer company, such Award will be converted into restricted shares (subject to the same performance period/vesting/certification schedule) of the successor/acquirer company based on the higher of actual performance or target levels determined as of the Change in Control with the value per share based on the final sale price of the Change in Control and in the event the Participant is terminated without Cause or the Participant terminates his or her employment for Good Reason within twenty four (24) months following such Change in Control, such Award will vest and be paid out within 30 days after such date of Participant’s termination of employment.  In the event such Award is not assumed or substituted by the acquirer/successor company, such Award shall immediately become fully vested at the greater of target levels or actual performance as of the Change in Control with the value per share based on the final sale price of the Change in Control.  [Notwithstanding the foregoing or anything to the contrary herein, to the extent the Participant and the Trust are a party to an employment agreement, such employment agreement shall govern the Award in the event the Participant’s employment by the Trust is terminated (i) involuntarily by the Trust without Cause (as defined by such employment agreement) or by the Participant for Good Reason (as defined by such employment agreement) or (ii) as a result the Participant’s death or Disability (as defined by such employment agreement) or (iii) within twenty four months following a Change in Control (as defined by such employment agreement) either by the Trust without Cause or by the Participant for Good Reason.] (1) 

		
	7.
	No Rights as a Shareholder.  Prior to any issuance of Shares, the Participant shall not at any time have any rights as a shareholder with respect to any Award.   No dividends (or dividend equivalents) will be paid on any earned or unearned Award until Shares are issued following the Certification Date pursuant to Section 4.  

		
	8.
	No Right to Continued Employment.   Nothing in this Award or the Plan shall interfere with or limit in any way the right of the Trust to terminate the Participant’s employment, nor confer upon the Participant any right to continuance of employment by the Trust or any Affiliate. 

		
	9.
	Construction. This Award is made and granted pursuant to the Plan and is in all respects limited by and subject to the terms of the Plan. In the event of any conflict between the provisions of this Award and the terms of the Plan, the terms of the Plan shall be controlling. All decisions of the Committee with respect to any question or issue arising under the Plan or this Award shall be conclusive and binding on all persons having an interest in the Award.

		
	10.
	Resolution of Disputes.  Any dispute or disagreement which may arise under, or as a result of, or in any way relate to, the interpretation, construction or application of this Award shall be determined by the Committee. Any determination made hereunder shall be final, binding and conclusive on the Participant, the Participant’s heirs, executors, administrators and successors, and the Trust and its Affiliates for all purposes. 

		
	11.
	Entire Statement of Award.  This Award and the terms and conditions of the Plan constitute the entire understanding between the Participant and the Trust and its Affiliates, and supersede all other agreements, whether written or oral, with respect to the Award. 

(1) Include in awards to executives with employment agreements.

		
	12.
	Headings.  The headings of this Award are inserted for convenience only and do not constitute a part of this Award.

		
	13.
	Counterparts.  This Award may be executed in two or more counterparts, each of which is deemed an original and all of which constitute one document.

		
	14.
	Registration.  The Trust currently has an effective registration statement on file with the Securities and Exchange Commission with respect to the shares of Common Shares subject to this Award. The Trust intends to maintain this registration but has no obligation to do so.  If the registration ceases to be effective, the Participant will not be able to transfer or sell shares issued pursuant to this Award unless exemptions from registration under applicable securities laws are available. Such exemptions from registration are very limited and might be unavailable.  The Participant agrees that any resale by him or her of the shares of Common Shares issued pursuant to this Award will comply in all respects with the requirements of all applicable securities laws, rules, and regulations (including, without limitation, the provisions of the Securities Act of 1933, as amended, the Securities Exchange Act of 1934, as amended, and the respective rules and regulations promulgated thereunder) and any other law, rule, or regulation applicable thereto, as such laws, rules, and regulations may be amended from time to time. The Trust will not be obligated to either issue the shares or permit the resale of any shares if such issuance or resale would violate any such requirements. 

		
	15.
	Code Section 409A.  The Award is intended to either be exempt from or to comply with Code Section 409A and shall be interpreted and administered consistent with that intent, provided, however, that the Trust makes no representation regarding the status of the Award under Code Section 409A and the Trust shall not be liable for any additional tax, interest or penalty that may be imposed upon the Participant, or other damage that may be suffered by the Participant, as a result of the Award being subject to and not in compliance with Code Section 409A.  Each payment required to be made hereunder shall be treated as a separate and distinct payment for purposes of Code Section 409A. If (i) an amount owing to the Participant hereunder constitutes nonqualified deferred compensation subject to Code Section 409A, (ii) the amount is considered to be payable to the Participant as a result of the Participant’s “separation from service” with the Trust and its Affiliates for purposes and within the meaning of Code Section 409A, and (iii) the Participant is at the time of separation from service a “specified employee” of the Trust and its Affiliates, then (notwithstanding any other provision hereof) the amount shall not be paid to the Participant any earlier than the time when such amount may be paid to the Participant without the Participant being subject to liability for additional tax on such amount under Code Section 409A.

		
	16.
	Tax Withholding Obligation.  If upon the Certification Date or other applicable date there shall be payable by the Trust or an affiliate of the Trust any statutory income and/or employment tax withholding, in the Trust's discretion, then unless provided otherwise by the Trust, such tax withholding obligations, if any, will be satisfied by the Trust withholding a number of shares of Common Stock that would otherwise be vested under the Award in an amount that the Trust determines has a fair market value sufficient to meet such tax withholding obligations, up to the maximum statutory withholding requirement.  In the Trust's discretion, it may require or permit reimbursement or payment of such tax withholding obligations by wire transfer, certified check, additional payroll withholding or other means acceptable to the Trust and upon such terms and conditions as the Trust may prescribe.  The Trust may also permit the Participant to tender shares to the Trust subsequent to receipt of such shares in respect of an Award.  The Trust is permitted to defer issuance of shares until reimbursement or payment by the Participant to the Trust or an affiliate of the Trust of the amount of any such tax.

The Participant is ultimately liable and responsible for all taxes owed by such Participant in connection with the Award, regardless of any action the Trust takes with respect to any tax withholding obligations that arise in connection with the Award.  The Trust makes no representation or undertaking regarding the treatment of any tax withholding in connection with the grant or issuance of the Performance Shares or the subsequent sale of any of the shares underlying the Performance Shares.  The Trust does not commit and is under no obligation to structure the Award program to reduce or eliminate the Participant's tax liability.

IN WITNESS WHEREOF, this Performance Share Unit Award Notice is duly authorized as of the date first above written.

RPT REALTY, a Maryland real estate investment trust

By: _____________________________________

Its:______________________________________

Accepted:

                    
[NAME] 

APPENDIX A 
 

Acadia Realty Trust
Agree Realty Corporation
Brixmor Property Group Inc.
Cedar Realty Trust, Inc.
Federal Realty Investment Trust
Kimco Realty Corporation
Kite Realty Group Trust
Regency Centers Corporation
Retail Opportunity Investment Corp.
Retail Properties of America, Inc.
Saul Centers, Inc.
Seritage Growth Properties
SITE Centers Corp.
Urban Edge Properties
Urstadt Biddle Properties Inc.
Washington Prime Group Inc.
Weingarten Realty Investors

	
			
	Level
	Comparative Total Shareholder
Return Percentile
	Percentage of Target Number of Performance Shares

	Threshold
	33rd
	50%

	Target
	50th
	100%

	Maximum
	90th
	200%

There will be a linear increase in payout between the performance levels if Threshold performance is achieved; no payout shall occur below 33rd percentile performance.

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