Document:

Exhibit 10.3

 

EMPLOYMENT AGREEMENT

 

This EMPLOYMENT AGREEMENT (the
“Agreement”), is entered into as of March 26, 2022, by and between Wuxin Technology Holdings, Inc., incorporated under the
laws of the Cayman Islands (the “Company”), and Yang Guo (the “Employee”). Except with respect to the direct employment
of the Employee by the Company, the term “Company” as used herein with respect to all obligations of the Employee hereunder
shall be deemed to include the Company and all of its subsidiaries and affiliated entities (collectively, the “Group”).

 

RECITALS

 

A. The Company desires to employ the Employee
as its Chief Financial Officer and to assure itself of the services of the Employee during the term of Employment (as defined below).

 

B. The Employee desires to be employed by the
Company as its Chief Financial Officer during the term of Employment and upon the terms and conditions of this Agreement.

 

AGREEMENT

 

The parties hereto agree as follows:

 

1. POSITION

 

The Employee hereby accepts a position of Chief Financial Officer (the
“Employment”) of the Company.

 

2. TERM

 

	 	 	Subject to the terms and conditions of this Agreement, the initial term of the Employment shall be 3 years, commencing on the date hereof (the “Effective Date”), unless terminated earlier pursuant to the terms of this Agreement. The Employment will be renewed automatically for additional one-year terms if neither the Company nor the Employee provides a 1-month prior written notice of termination of the Employment to the other party, or otherwise proposes to renegotiate the terms of the Employment with the other party within three (3) months prior to the expiration of the applicable term, or unless the Employment is terminated earlier pursuant to the terms of this Agreement.

 

3. DUTIES AND RESPONSIBILITIES

 

		(a)	The
Employee’s duties at the Company will include all jobs assigned by the Company’s Board of the Directors (the “Board”).

 

		(b)	The
Employee shall devote all of his working time, attention and skills to the performance of his duties at the Company and shall faithfully
and diligently serve the Company in accordance with this Agreement, the Memorandum and Articles of Association of the Company, as amended
and restated from time to time (the “Charter Documents”), and the guidelines, policies and procedures of the Company approved
from time to time by the Board.

 

		(c)	The Employee shall use his best efforts to perform his duties
hereunder. The Employee shall not, without the prior written consent of the Board, become an employee of any entity other than the Company
and any subsidiary or affiliate of the Company, and shall not be concerned or interested in any business or entity that engages in the
same business in which the Company engages (any such business or entity, a “Competitor”), provided that nothing in this clause
shall preclude the Employee from holding any shares or other securities of any Competitor that is listed on any securities exchange or
recognized securities market anywhere if such shares or securities represent less than 5% of the competitors outstanding shares and securities.
The Employee shall notify the Company in writing of his interest in such shares or securities in a timely manner and with such details
and particulars as the Company may reasonably require.

 

     

     

    

 

4. NO BREACH OF CONTRACT

 

The Employee hereby represents to the
Company that: (i) the execution and delivery of this Agreement by the Employee and the performance by the Employee of the Employee’s
duties hereunder shall not constitute a breach of, or otherwise contravene, the terms of any other agreement or policy to which the Employee
is a party or otherwise bound, except for agreements entered into by and between the Employee and any member of the Group pursuant to
applicable law, if any; (ii) that the Employee has no information (including, without limitation, confidential information and trade
secrets) relating to any other person or entity which would prevent, or be violated by, the Employee entering into this Agreement or carrying
out his duties hereunder; (iii) that the Employee is not bound by any confidentiality, trade secret or similar agreement (other than
this) with any other person or entity except for other member(s) of the Group, as the case may be.

 

5.  Intentionally Omitted

  

6. COMPENSATION AND BENEFITS

 

		(a)	Base
Salary. The Employee shall draw a base salary of U.S. Dollar 7,800 (US$[7,800]) per month during the Effective Date, and such arrangement
is subject to annual review and adjustment by the Board.

 

		(b)	Bonus.
The Employee shall not draw a bonus prior to and during the Effective Date, and such arrangement is subject to annual review and adjustment
by the Board.

 

		(c)	Equity
Incentives. To the extent the Company adopts and maintains a share incentive plan, the Employee will be eligible to participate in
such plan pursuant to the terms thereof as determined by the Board.

 

		(d)	Benefits.
The Employee is eligible for participation in any standard employee benefit plan of the Company that currently exists or may be adopted
by the Company in the future, including, but not limited to, any retirement plan, life insurance plan, health insurance plan and travel/holiday
plan.

 

		(e)	Expenses.
The Employee shall be entitled to reimbursement by the Company for all reasonable ordinary and necessary travel and other expenses incurred
by the Employee in the performance of his duties under this Agreement; provided that he properly accounts for such expenses in accordance
with the Company’s policies and procedures.

 

7. TERMINATION OF THE AGREEMENT

 

		(a)	By
the Company.

 

(i) For Cause. The Company
may terminate the Employment for cause, at any time, without notice or remuneration (unless notice or remuneration is specifically required
by applicable law, in which case notice or remuneration will be provided in accordance with applicable law), if:

 

(1) the Employee is convicted or pleads
guilty to a felony or to an act of fraud, misappropriation or embezzlement;

 

(2) the Employee has been grossly negligent
or acted dishonestly to the detriment of the Company;

 

    2

     

    

 

(3) the Employee has engaged in actions
amounting to willful misconduct or failed to perform his duties hereunder and such failure continues after the Employee is afforded a
reasonable opportunity to cure such failure; or

 

(4) the Employee violates Section 8
or 10 of this Agreement.

 

Upon termination for cause, the Employee
shall be entitled to the amount of base salary earned and not paid prior to termination. However, the Employee will not be entitled to
receive payment of any severance benefits or other amounts by reason of the termination, and the Employee’s right to all other benefits
will terminate, except as required by any applicable law.

 

(ii) For death and disability.
The Company may also terminate the Employment, at any time, without notice or remuneration (unless notice or remuneration is specifically
required by applicable law, in which case notice or remuneration will be provided in accordance with applicable law), if:

 

(1) the Employee has died, or

 

(2) the Employee has a disability which
shall mean a physical or mental impairment which, as reasonably determined by the Board, renders the Employee unable to perform the essential
functions of his employment with the Company, with or without reasonable accommodation, for more than 120 days in any 12-month period,
unless a longer period is required by applicable law, in which case that longer period would apply.

 

Upon termination for death or disability,
the Employee shall be entitled to the amount of base salary earned and not paid prior to termination. However, the Employee will not be
entitled to receive payment of any severance benefits or other amounts by reason of the termination, and the Employee’s right to
all other benefits will terminate, except as required by any applicable law.

 

(iii) Without Cause. The
Company may terminate the Employment without cause, at any time, upon one-month prior written notice. Upon termination without cause,
the Company shall provide the following severance payments and benefits to the Employee: (1) a lump sum cash payment equal to 1 months
of the Employee’s base salary as of the date of such termination; (2) a lump sum cash payment equal to a pro-rated amount of
his target annual bonus for the year immediately preceding the termination, if any; (3) payment of premiums for continued health
benefits under the Company’s health plans for 12 months fo1lowing the termination, if any; and (4) immediate vesting of 100%
of the then-unvested portion of any outstanding equity awards held by the Employee.

 

Upon termination without cause, the
Employee shall be entitled to the amount of base salary earned and not paid prior to termination.

 

(iv) Change of Control Transaction.
If the Company or its successor terminates the Employment upon a merger, consolidation, or transfer or sale of all or substantially all
of the assets of the Company with or to any other individual(s) or entity (the “Change of Control Transaction”), the
Employee shall be entitled to the following severance payments and benefits upon such termination: (1) a lump sum cash payment equal
to 1  months of the Employee’s base salary at a rate equal to the greater of his/her annual salary in effect immediately prior
to the termination, or his/her then current annua1 salary as of the date of such termination; (2) a lump sum cash payment equal to
a pro-rated amount of his/her target annual bonus for the year immediately preceding the termination; (3) payment of premiums for
continued health benefits under the Company’s health plans for 12 months fo1lowing the termination; and (4) immediate vesting
of 100% of the then-unvested portion of any outstanding equity awards held by the Employee.

 

		(b)	By
the Employee. The Employee may terminate the Employment at any time with a one-month prior written notice to the Company, if (1) there
is a material reduction in the Employee’s authority, duties and responsibilities, or (2) there is a material reduction in
the Employee’s annual salary. Upon the Employee’s termination of the Employment due to either of the above reasons, the Company
shall provide compensation to the Employee equivalent to 1 months of the Employee’s base salary that he is entitled to immediately
prior to such termination. In addition, the Employee may resign prior to the expiration of the Agreement if such resignation is approved
by the Board or an alternative arrangement with respect to the Employment is agreed to by the Board.

 

    3

     

    

 

		(c)	Notice
of Termination. Any termination of the Employee’s employment under this Agreement shall be communicated by written notice
of termination from the terminating party to the other party. The notice of termination shall indicate the specific provision(s) of this
Agreement relied upon in effecting the termination.

 

8. CONFIDENTIALITY AND NON-DISCLOSURE

 

		(a)	Confidentiality
and Non-disclosure. The Employee hereby agrees at all times during the term of the Employment, to hold in the strictest confidence,
and not to use, except for the benefit of the Company, or to disclose to any person, corporation or other entity without prior written
consent of the Company, any Confidential Information. The Employee understands that “Confidential Information” means
any proprietary or confidential information of the Company, its affiliates, or their respective clients, customers or partners, including,
without limitation, technical data, trade secrets, research and development information, product plans, services, customer lists and
customers, supplier lists and suppliers, software developments, inventions, processes, formulas, technology, designs, hardware configuration
information, personnel information, marketing, finances, information about the suppliers, joint ventures, franchisees, distributors and
other persons with whom the Company does business, information regarding the skills and compensation of other employees of the Company
or other business information disclosed to the Employee by or obtained by the Employee from the Company, its affiliates, or their respective
clients, customers or partners, either directly or indirectly, in writing, orally or otherwise, if specifically indicated to be confidential
or reasonably expected to be confidential. The confidentiality obligations under this Clause shall survive notwithstanding the termination
of this Employment Agreement for ten (10) years thereafter. Notwithstanding the foregoing, Confidential Information shall not include
information that is generally available and known to the public through no fault of the Employee.

 

		(b)	Company
Property. The Employee understands that all documents (including computer records, facsimile and e-mail) and materials created, received
or transmitted in connection with his work or using the facilities of the Company are property of the Company and subject to inspection
by the Company at any time. Upon termination of the Employee’s employment with the Company (or at any other time when requested
by the Company), the Employee will promptly deliver to the Company all documents and materials of any nature pertaining to his work with
the Company and will provide written certification of his compliance with this Agreement. Under no circumstances will the Employee have,
following his termination, in his possession any property of the Company, or any documents or materials or copies thereof containing
any Confidential Information.

 

		(c)	Former
Employer Information. The Employee agrees that he has not and will not, during the term of his employment, (i) improperly use
or disclose any proprietary information or trade secrets of any former employer or other person or entity with which the Employee has
an agreement or duty to keep in confidence information acquired by Employee, if any, or (ii) bring into the premises of the Company
any document or confidential or proprietary information belonging to such former employer, person or entity unless consented to in writing
by such former employer, person or entity. The Employee will indemnify the Company and hold it harmless from and against all claims,
liabilities, damages and expenses, including reasonable attorneys’ fees and costs of suit, arising out of or in connection with
any violation of the foregoing.

 

		(d)	Third
Party Information. The Employee recognizes that the Company may have received, and in the future may receive, from third parties
their confidential or proprietary information subject to a duty on the Company’s part to maintain the confidentiality of such information
and to use it only for certain limited purposes. The Employee agrees that the Employee owes the Company and such third parties, during
the Employee’s employment by the Company and thereafter, a duty to hold all such confidential or proprietary information in the
strictest confidence and not to disclose it to any person or firm and to use it in a manner consistent with, and for the limited purposes
permitted by, the Company’s agreement with such third party.

 

This Section 8 shall survive
the termination of this Agreement for any reason. In the event the Employee breaches this Section 8, the Company shall have right to seek
remedies permissible under applicable law.

 

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9. CONFLICTING EMPLOYMENT

 

The Employee hereby
agrees that, during the term of his employment with the Company, he will not engage in any other employment, occupation, consulting or
other business activity related to the business in which the Company is now involved or becomes involved during the term of the Employee’s
employment, nor will the Employee engage in any other activities that conflict with his obligations to the Company without the prior written
consent of the Company.

 

10.  NON-COMPETITION AND NON-SOLICITATION

 

In consideration
of the compensation and benefits paid to the Employee by the Company and subject to applicable law, the Employee agrees that during the
term of the Employment and for a period of two (2) years following the termination of the Employment for whatever reason:

 

		(a)	The
Employee will not approach clients, customers or contacts of the Company or other persons or entities introduced to the Employee in the
Employee’s capacity as a representative of the Company for the purposes of doing business with such persons or entities which will
harm the business relationship between the Company and such persons and/or entities;

 

		(b)	The
Employee will not assume employment with or provide services as a director or otherwise for any Competitor, or engage, whether as principal,
partner, licensor or otherwise, in any Competitor; and

 

		(c)	The
Employee will not seek, directly or indirectly, by the offer of alternative employment or other inducement whatsoever, to solicit the
services of any employee of the Company employed as at or after the date of such termination, or in the year preceding such termination.

 

The provisions contained in
Section 10 are considered reasonable by the Employee and the Company. In the event that any such provisions should be found to be
void under applicable laws but would be valid if some part thereof was deleted or the period or area of application reduced, such provisions
shall apply with such modification as may be necessary to make them valid and effective.

 

This Section 10 shall survive
two (2) years after the termination of this Agreement for any reason. In the event the Employee breaches this Section 10, the Employee
acknowledges that there will be no adequate remedy at law, and the Company shall be entitled to injunctive relief and/or a decree for
specific performance, and such other relief as may be proper (including monetary damages if appropriate). In any event, the Company shall
have right to seek all remedies permissible under applicable law.

 

11.  WITHHOLDING TAXES

 

Notwithstanding anything else
herein to the contrary, the Company may withhold (or cause there to be withheld, as the case may be) from any amounts otherwise due or
payable under or pursuant to this Agreement such national, provincial, local or any other income, employment, or other taxes as may be
required to be withheld pursuant to any applicable law or regulation.

 

12.  ASSIGNMENT

 

This Agreement is personal
in its nature and neither of the parties hereto shall, without the consent of the other, assign or transfer this Agreement or any rights
or obligations hereunder; provided, however, that (i) the Company may assign or transfer this Agreement or any rights or obligations
hereunder to any member of the Group without such consent, and (ii) in the event of a Change of Control Transaction, this Agreement
shall, subject to the provisions hereof, be binding upon and inure to the benefit of such successor and such successor shall discharge
and perform all the promises, covenants, duties, and obligations of the Company hereunder.

 

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13.  SEVERABILITY

 

If any provision of this Agreement
or the application thereof is held invalid, the invalidity shall not affect other provisions or applications of this Agreement which can
be given effect without the invalid provisions or applications and to this end the provisions of this Agreement are declared to be severable.

 

14.  ENTIRE AGREEMENT

 

This Agreement constitutes
the entire agreement and understanding between the Employee and the Company regarding the terms of the Employment and supersedes all prior
or contemporaneous oral or written agreements concerning such subject matter, including any prior agreements between the Employee and
a member of the Group. The Employee acknowledges that he has not entered into this Agreement in reliance upon any representation, warranty
or undertaking which is not set forth in this Agreement. Any amendment to this Agreement must be in writing and signed by the Employee
and the Company.

 

15.  GOVERNING LAW; JURISDICTION

 

This Agreement shall be governed
by and construed in accordance with the laws of New York and each of the parties irrevocably consents to the jurisdiction and venue of
the courts located in New York.

 

16.  AMENDMENT

 

This Agreement may not be
amended, modified or changed (in whole or in part), except by a formal, definitive written agreement expressly referring to this Agreement,
which agreement is executed by both of the parties hereto.

 

17.  WAIVER

 

Neither the failure nor any
delay on the part of a party to exercise any right, remedy, power or privilege under this Agreement shall operate as a waiver thereof,
nor shall any single or partial exercise of any right, remedy, power or privilege preclude any other or further exercise of the same or
of any right, remedy, power or privilege, nor shall any waiver of any right, remedy, power or privilege with respect to any occurrence
be construed as a waiver of such right, remedy, power or privilege with respect to any other occurrence. No waiver shall be effective
unless it is in writing and is signed by the party asserted to have granted such waiver.

 

18.  NOTICES

 

All notices, requests, demands
and other communications required or permitted under this Agreement shall be in writing and shall be deemed to have been duly given and
made if (i) delivered by hand, (ii) otherwise delivered against receipt therefor, or (iii) sent by a recognized courier
with next-day or second-day delivery to the last known address of the other party.

 

19.  COUNTERPARTS

 

This Agreement may be executed
in any number of counterparts, each of which shall be deemed an original as against any party whose signature appears thereon, and all
of which together shall constitute one and the same instrument. This Agreement shall become binding when one or more counterparts hereof,
individually or taken together, shall bear the signatures of all of the parties reflected hereon as the signatories.

 

Photographic copies of such
signed counterparts may be used in lieu of the originals for any purpose.

 

20.  NO INTERPRETATION AGAINST DRAFTER

 

Each party recognizes that
this Agreement is a legally binding contract and acknowledges that he has had the opportunity to consult with legal counsel of choice.
In any construction of the terms of this Agreement, the same shall not be construed against either party on the basis of that party being
the drafter of such terms.

 

[Remainder of this page has been intentionally
left blank.]

 

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IN WITNESS WHEREOF, this Agreement has been executed
as of the date first written above.

 

	 	Wuxin Technology Holdings, Inc.
	 	 	 
		By:  	/s/ Lianqi Liu 
	 	Name: 	Lianqi Liu
	 	Title:	Chairman of the Board

 

	 	Employee
	 	
     
	 
	 	Signature: 	/s/ Yang Guo
	 	Name:	Yang Guo

 

 

7Exhibit
10.4

 

Lease
Contract

 

Lessor
(Hereinafter referred to as “Party A”): Huizhou Mingshang Hi-Tech Industrial Co., Ltd.

 

Uniform
social credit code: 91441303077852295X

 

Address:
Yangwu Section, East Side of Huinan Avenue, Huiyang Economic Development Zone, Huiyang District, Huizhou City

 

Tel.:
15989372798

 

Lessee
(Hereinafter referred to as “Party B”): Shenzhen VLG Wireless Technology Co., Ltd, Huizhou Branch

 

Uniform
social credit code: 91441303MA51UD1H14

 

Address:
5/F, Plant of Mingshang Industrial Park, Yangwu 3rd Road, Huinan Avenue, Huiyang Economic Development Zone, Huiyang District, Huizhou
City, Tel.: 13729838883

 

In
accordance with the provisions of the Contract Law of the People’s Republic of China and the Law of the People’s Republic of China on the Administration of Urban
Real Estate and other relevant laws and regulations, on the basis of equality and voluntariness, both parties hereby reach the following
agreement related to the lease of the plant:

 

Article
1 

 

1.
The factory is located on the fifth floor of the plant of Mingshang Industrial Park, Yangwu 3rd Road, Huinan Avenue, Huiyang Economic
Development Zone, Huiyang District, Huizhou City, with a building area of 1,630 square meters.

 

2.
Plant ownership status: name and number of Party A’s real estate ownership certificate or other certificates proving its property
rights (right to use) : certificate of business premises.

 

     

     

    

 

3.
Details of the existing renovation, facilities and equipment of the plant are shown in the annex to this contract (List of Facilities
and Equipment). This annex shall serve as the basis for Party A to hand over the plant to Party B for use in accordance with this
contract and the basis for inspection upon Party B’s return at the end of the lease term.

 

Article
2 

 

Party
B leased the plant business scope for office, research and development production and processing. Without Party A’s consent, Party
B shall not change the business items without permission.

 

Article
3 

 

1.
The lease period of the plant is from June 1, 2018 to June 1, 2023 for a total of 5 years. The reassessment adjustment will be made after
two years of the lease term (May 31, 2020). (Actual market price and mutual agreement)

 

2.
Upon the expiration of lease term, if Party B renews the contract, it shall propose to Party A 30 days in advance, and the two parties
shall sign a new plant lease contract after consensus.

 

3.
Upon the expiration of lease term, if Party B renews the contract, it shall have the right of first refusal under the same conditions.

 

Article
4 

 

1.
Standard of the rent: RMB12/square meter per month, management fee: RMB 2.8/square meter per month, utility fee: RMB 0. The total monthly
rent is RMB 24,124 (In words: Twenty-Four Thousand One Hundred and Twenty-Four Yuan Only).

 

2.
From June 1, 2018 to May 31, 2020, the monthly rent shall be RMB 24,124 (In words: Twenty-Four Thousand One Hundred and Twenty-Four Yuan
Only).

 

3.
Payment method: Party B shall pay the rent to Party A’s bank account as follows in accordance with this contract.

 

Account
No.: 673061458259

 

Account
name: Huizhou Mingshang Hi-Tech Industrial Co., Ltd.

 

Opening
bank: Bank of China Co., Ltd. Huizhou Huiyang Sub-branch

 

    2

     

    

 

4.
Rent payment date:

 

Party
B shall deliver the initial rent in the amount of RMB 24,124 (In words: Twenty-Four Thousand One Hundred and Twenty-Four Yuan Only) by
August 31, 2018 after the contract becomes effective, and Party B shall deliver the rent to Party A before the 10th day of each month;
when Party A collects the rent, it shall issue a receipt to Party B.

 

5.
Party A agrees to grant Party B rent-free period of 3 months (from June 1, 2018 to August 31, 2018) starting from signature of this contract,
meaning the rent will be waived during this period. Water, electricity, telephone and other expenses incurred during the rent-free period
shall be borne by Party B.

 

6.
Upon delivery of the leased premises, Party A shall collect from Party B a lease deposit of two months’ rent (not exceeding three
months), that is RMB 48,248 (In words: Forty-Eight Thousand Two Hundred and Forty-Eight Yuan Only).

 

7.
Conditions for the return of lease deposit from Party A to Party B

 

7.1.
Expiration of contract 

 

7.2.
Party B pays all costs incurred in connection with the leased property 

 

7.3.
__________________________

 

☐
One of the prerequisites shall be met.

 

þ
All the prerequisites shall be met.

 

(
Both parties shall agree to make one choice mentioned in the above two articles, and tick “√“in ☐)

 

8.
Ways and time of returning the rental deposit: cash, transfer or check: within two months of the expiration of the contract period.
If any one of the following circumstances occurs, Party A shall not return the deposit:

 

8.1.
Without Party A’s consent, Party B unilaterally terminates the contract early 

 

8.2.
Party B defaults on rent and other charges for up to 30 days 

 

8.3.
             /             

 

9.
The contract rent is non-tax inclusive.

 

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Article
5 

 

1.
During the lease period, Party B is responsible for paying the taxes arising from the lease of the premise, the water charge of the leased
premise is RMB 4/ton (if there is any adjustment of the water charge subsequently, the latest notice of the management office
shall prevail), and the electricity charge is RMB 1/kWh (if there is any adjustment of the electricity charge subsequently, the
latest notice of the management office of Mingshang management office shall prevail).

 

2.
The property management fee and sanitation fee (public area) during the lease period shall be borne by Party A (excluding the construction
waste generated by Party B’s renovation). Water, electricity, telephone network and interior decoration costs are borne by Party
B:

 

3.
During the lease period, Party A will offer two parking spaces for free, and monthly cards can be applied for more parking spaces (temporary
parking shall be based on time management charges).

 

4.
In the early period, Party B is provided with 2 paid dormitory rooms, in single rooms with a rent of 400 yuan per room.

 

Article
6 

 

1.
Plant delivery: Party A shall deliver the leased property to Party B in the agreed conditions by June 1, 2018. The “List of Facilities
and Equipment” is considered to be delivered after both parties have handed over their signatures and the room keys and _______.

 

2.
Plant return

 

If
Party B decorates the plant with Party A’s consent, Party A has the right to take back the plant and its supporting facilities
and equipment after the lease period expires or the contract is terminated. Both Party A and Party B shall inspect and accept the plant
and auxiliary items, equipment and facilities and the use of water and electricity, and settle the costs that each shall bear. The treatment
of the decorative part of the plant is as follows:

 

(1)
Party B can recover the decorations that are not attached to the plant.

 

Article
7 

 

1.
During the lease period, both parties shall work together to ensure that the plant and its attached items, equipment and facilities are
in a suitable and safe condition.

 

2.
Party B shall be responsible for repairing or compensating for any damage or malfunction of the plant and its ancillary items, equipment
and facilities due to improper storage or unreasonable use by Party B.

 

3.
Party B shall be responsible for repairing any damage to the additional facilities and equipment installed during the renovation of the
plant.

 

4.
Party A agrees with Party B’s renovation plan for the leased plant, but it shall not damage the main structure of the plant.

 

    4

     

    

 

Article
8 

 

1.
Party A’s commitment and guarantee

 

(1)
Party A guarantees that the leased plant has normal water and electricity supply.

 

(2)
Party A guarantees that Party B can use the plant address as the registered address to apply for industrial and commercial business license,
and shall provide Party B with the premise information and documents required for the relevant administrative procedures.

 

2.
Party B’s commitment and guarantee

 

(1)
Party B shall ensure that it obtains the legal qualification to operate in the leased premises as agreed herein, and handle all kinds
of licensing and approval procedures such as industrial and commercial business license, tax registration, health permit, fire fighting
approval, etc. required for operating in the leased premises by itself, and handle the relevant documents required by relevant government
departments. Party B shall be responsible for compensating claim against Party A or fine caused to Party A due to Party B’s failure
to apply for the legal procedures and licenses required to use the leased premises for business.

 

(2)
Party B shall ensure compliance with the property management rules of the area where the plant is located.

 

Article
9 

 

1.
During the lease term, Party B cannot sublease part of or the rental premise to other people.

 

Article
10 

 

The
cancellation or modification of this contract is permitted if one of the following occurs during the contract term:

 

(I)
The contract cannot be implemented in the case of force majeure;

 

(II)
Government expropriation, repossession or demolition of leased premises;

 

(III)
Both parties reach a consensus through consultation.

 

Article
11 

 

If
the following situations occur, for the resulting loss, Party A can

 

þ1.
Require Party B to restore the premise to its original condition;

 

☐2.
Request Party B for damage compensation;

 

þ3.
Not return rental deposit;

 

☐4.
Party B is required to pay liquidated damages of RMB ____/___ (In words: RMB ____/___).

 

(I)
Party B delays the rent for more than 30 days (one month);

 

(II)
Losses caused to Party A due to the overdue rent of Party B amounting to more than ___/___yuan;

 

(III)
Party B uses the leased premise to engage in illegal activities which damages the public or others’ interests;

 

(IV)
Party B changes the structure or use of the leased premise at it own will.

 

(V)
Party B does not assume responsibility or pay for repairs due to his own fault, resulting in serious damage to the premise or equipment;

 

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(VI)
Without the written consent of Party A and the approval of relevant departments, Party B renovates the leased premises without permission;

 

(VII)
Party B subleases the leased premises to a third party without permission.

 

In
addition to tracing Party B’s liability for damages or for breach of contract, Party A is entitled to require change of contract
terms or dissolve the contract in accordance with the above circumstances; once the Contract termination notice is delivered, Party A
is entitled to apply for contract termination registration (filing) unilaterally.

 

If
one of the following situations occurs, for the resulting loss, Party B can

 

☐1.
Request Party A for damage compensation;

 

☐2.
Request Party A to double refund the lease deposit;

 

☐3.
Party A shall pay liquidated damages of RMB ____/___ (In words: RMB ____/___).

 

(The
above-mentioned three ways can be selected by mutual agreement, but the second and the third items cannot be selected in the mean time;
you may mark”√” in the corresponding☐):

 

(I)
Party A is late in delivering the leased premises for more than ____/___ days (____/___ months).

 

(II)
Party A does not assume responsibility for maintenance or pay the cost of maintenance caused by itself.

 

(III)
Party A requires unilaterally canceling (termination) of the contract without justified reasons.

 

In
addition to tracing Party A’s liability for damages or for breach of contract, Party B is entitled to require change of contract
terms or dissolve the contract in accordance with the above circumstances; once the contract termination notice is delivered, Party B
is entitled to apply for contract termination registration (filing) unilaterally.

 

Article
12 

 

1.
During the performance of this contract, if force majeure causes one party to be unable to perform the contract, the party experiencing
force majeure shall immediately notify the other party and shall, within 60 days from the date of occurrence of force majeure,
provide documents proving that the contract cannot be performed or cannot be fully performed due to force majeure, thus exempting the
affected party from liability for breach of contract.

 

2.
If the premises agreed in Article 1 herein are not suitable for renting due to force majeure or other reasons not attributable to the
parties, Party A shall reduce the rent for the period affected by the force majeure. If the leased premises cannot be restored, this
contract is automatically terminated.

 

Article
13 

 

Any
dispute arising from the contract shall be settled by the parties through negotiation. If negotiation fails, a lawsuit may be brought
to the local people’s court of Party B’s residence.

 

Article
14 

 

1.
Party A and B may otherwise agree on matters not covered by this contract in the attached pages. As an integral part of the contract,
the attached page contents have the same legal force with the contract once it is signed and sealed.

 

2.
The contract shall come into force upon being signed and sealed by both parties. The Contract (and its annexes) is made in duplicate,
one copy for each party.

 

(No
text below)

 

	Party
                           A (Seal):

    Huizhou
    Mingshang Hi-Tech Industrial Co., Ltd. (sealed)
	Party
                           B (Seal):

    Shenzhen
    VLG Wireless Technology Co., Ltd., Huizhou Branch (sealed)

	 	 
	Legal
        representative (Consignor) (signature): 
	Legal
    representative (Consignor) (signature): 
	 	 
	Date:
        June 1, 2018
	Date:
        June 1, 2018 

 

 

6

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