Document:

Exhibit 10.1

 

SECURITIES
PURCHASE AGREEMENT

This
SECURITIES PURCHASE AGREEMENT (the “Agreement”), dated as of September 15, 2020, by and between GBT TECHNOLOGIES
INC., a Nevada corporation, with its address at 2500 Broadway, Suite F-125, Santa Monica, CA 90404 (the “Company”),
and REDSTART HOLDINGS CORP., a New York corporation, with its address at 1188 Willis Avenue, Albertson, New York 11507
(the “Buyer”).

 

WHEREAS:

 

A.
The Company and the Buyer are executing and delivering this Agreement in reliance upon the exemption from securities registration
afforded by the rules and regulations as promulgated by the United States Securities and Exchange Commission (the “SEC”)
under the Securities Act of 1933, as amended (the “1933 Act”); and

 

B.
Buyer desires to purchase and the Company desires to issue and sell, upon the terms and conditions set forth in this Agreement
a convertible note of the Company, in the form attached hereto as Exhibit A, in the aggregate principal amount of $93,600.00 (together
with any note(s) issued in replacement thereof or as a dividend thereon or otherwise with respect thereto in accordance with the
terms thereof, the “Note”), convertible into shares of common stock, $0.00001
par value per share, of the Company (the “Common Stock”), upon the terms and subject to the limitations and
conditions set forth in such Note.

 

NOW
THEREFORE, the Company and the Buyer severally (and not jointly) hereby agree as follows:

 

1.
Purchase and Sale of Note.

 

a.
Purchase of Note. On the Closing Date (as defined below), the Company shall issue and sell to the Buyer and the Buyer agrees
to purchase from the Company such principal amount of Note as is set forth immediately below the Buyer’s name on the signature
pages hereto.

 

b.
Form of Payment. On the Closing Date (as defined below), (i) the Buyer shall pay the purchase price for the Note to be
issued and sold to it at the Closing (as defined below) (the “Purchase Price”) by wire transfer of immediately available
funds to the Company, in accordance with the Company’s written wiring instructions, against delivery of the Note in the
principal amount equal to the Purchase Price as is set forth immediately below the Buyer’s name on the signature pages hereto,
and (ii) the Company shall deliver such duly executed Note on behalf of the Company, to the Buyer, against delivery of such
Purchase Price.

 

c.
Closing Date. Subject to the satisfaction (or written waiver) of the conditions thereto set forth in Section 6 and Section
7 below, the date and time of the issuance and sale of the Note pursuant to this Agreement (the “Closing Date”) shall
be 12:00 noon, Eastern Standard Time on or about September 17, 2020, or such other mutually agreed upon time. The closing of the
transactions contemplated by this Agreement (the “Closing”) shall occur on the Closing Date at such location as may
be agreed to by the parties.

 

    1

     

    

 

2.
Buyer’s Representations and Warranties. The Buyer represents and warrants to the Company that:

 

a.
Investment Purpose. As of the date hereof, the Buyer is purchasing the Note and the shares of Common Stock issuable upon
conversion of or otherwise pursuant to the Note (such shares of Common Stock being collectively referred to herein as the “Conversion
Shares” and, collectively with the Note, the “Securities”) for its own account and not with a present view towards
the public sale or distribution thereof, except pursuant to sales registered or exempted from registration under the 1933 Act.

 

b.
Accredited Investor Status. The Buyer is an “accredited investor” as that term is defined in Rule 501(a) of
Regulation D (an “Accredited Investor”).

 

c.
Reliance on Exemptions. The Buyer understands that the Securities are being offered and sold to it in reliance upon specific
exemptions from the registration requirements of United States federal and state securities laws and that the Company is relying
upon the truth and accuracy of, and the Buyer’s compliance with, the representations, warranties, agreements, acknowledgments
and understandings of the Buyer set forth herein in order to determine the availability of such exemptions and the eligibility
of the Buyer to acquire the Securities.

 

d.
Information. The Company has not disclosed to the Buyer any material nonpublic information and will not disclose such information
unless such information is disclosed to the public prior to or promptly following such disclosure to the Buyer.

 

e.
Legends. The Buyer understands that the Note and, until such time as the Conversion Shares have been registered under the
1933 Act; or may be sold pursuant to an applicable exemption from registration, the Conversion Shares may bear a restrictive legend
in substantially the following form:

 

“THE
SECURITIES REPRESENTED BY THIS INSTRUMENT HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES
ACT”), OR UNDER ANY STATE SECURITIES LAWS, AND MAY NOT BE PLEDGED, SOLD, ASSIGNED, HYPOTHECATED OR OTHERWISE TRANSFERRED
UNLESS (1) A REGISTRATION STATEMENT WITH RESPECT THERETO IS EFFECTIVE UNDER THE SECURITIES ACT AND ANY APPLICABLE STATE SECURITIES
LAWS OR (2) THE ISSUER OF SUCH SECURITIES RECEIVES AN OPINION OF COUNSEL TO THE HOLDER OF SUCH SECURITIES, WHICH COUNSEL AND OPINION
ARE REASONABLY ACCEPTABLE TO THE ISSUER’S TRANSFER AGENT, THAT SUCH SECURITIES MAY BE PLEDGED, SOLD, ASSIGNED, HYPOTHECATED
OR OTHERWISE TRANSFERRED WITHOUT AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT AND APPLICABLE STATE SECURITIES
LAWS.”

 

    2

     

    

 

The
legend set forth above shall be removed and the Company shall issue a certificate without such legend to the holder of any Security
upon which it is stamped, if, unless otherwise required by applicable state securities laws, (a) such Security is registered for
sale under an effective registration statement filed under the 1933 Act or otherwise may be sold pursuant to an exemption from
registration without any restriction as to the number of securities as of a particular date that can then be immediately sold,
or (b) such holder provides the Company with an opinion of counsel, in form, substance and scope customary for opinions of counsel
in comparable transactions, to the effect that a public sale or transfer of such Security may be made without registration under
the 1933 Act, which opinion shall be accepted by the Company so that the sale or transfer is effected. The Buyer agrees to sell
all Securities, including those represented by a certificate(s) from which the legend has been removed, in compliance with applicable
prospectus delivery requirements, if any. In the event that the Company does not accept the opinion of counsel provided by the
Buyer with respect to the transfer of Securities pursuant to an exemption from registration, such as Rule 144, at the Deadline,
it will be considered an Event of Default pursuant to Section 3.2 of the Note.

 

f.
Authorization; Enforcement. This Agreement has been duly and validly authorized. This Agreement has been duly executed
and delivered on behalf of the Buyer, and this Agreement constitutes a valid and binding agreement of the Buyer enforceable in
accordance with its terms.

 

3.
Representations and Warranties of the Company. The Company represents and warrants to the Buyer that:

 

a.
Organization and Qualification. The Company and each of its Subsidiaries (as defined below), if any, is a corporation duly
organized, validly existing and in good standing under the laws of the jurisdiction in which it is incorporated, with full power
and authority (corporate and other) to own, lease, use and operate its properties and to carry on its business as and where now
owned, leased, used, operated and conducted. “Subsidiaries” means any corporation or other organization, whether incorporated
or unincorporated, in which the Company owns, directly or indirectly, any equity or other ownership interest.

 

b.
Authorization; Enforcement. (i) The Company has all requisite corporate power and authority to enter into and perform this
Agreement, the Note and to consummate the transactions contemplated hereby and thereby and to issue the Securities, in accordance
with the terms hereof and thereof, (ii) the execution and delivery of this Agreement, the Note by the Company and the consummation
by it of the transactions contemplated hereby and thereby (including without limitation, the issuance of the Note and the issuance
and reservation for issuance of the Conversion Shares issuable upon conversion or exercise thereof) have been duly authorized
by the Company’s Board of Directors and no further consent or authorization of the Company, its Board of Directors, or its
shareholders is required, (iii) this Agreement has been duly executed and delivered by the Company by its authorized representative,
and such authorized representative is the true and official representative with authority to sign this Agreement and the other
documents executed in connection herewith and bind the Company accordingly, and (iv) this Agreement constitutes, and upon execution
and delivery by the Company of the Note, each of such instruments will constitute, a legal, valid and binding obligation of the
Company enforceable against the Company in accordance with its terms.

 

    3

     

    

 

c.
Capitalization. As of the date hereof, the authorized common stock of the Company consists of 100,000,000,000
authorized shares of Common Stock, $1e-05 par value per share, of which 187,956,187
shares are issued and outstanding. All of such outstanding shares of capital stock are, or upon issuance will be, duly
authorized, validly issued, fully paid and non-assessable. .

 

d.
Issuance of Shares. The Conversion Shares are duly authorized and reserved for issuance and, upon conversion of the Note
in accordance with its respective terms, will be validly issued, fully paid and non-assessable, and free from all taxes, liens,
claims and encumbrances with respect to the issue thereof and shall not be subject to preemptive rights or other similar rights
of shareholders of the Company and will not impose personal liability upon the holder thereof.

 

e.
No Conflicts. The execution, delivery and performance of this Agreement, the Note by the Company and the consummation by
the Company of the transactions contemplated hereby and thereby (including, without limitation, the issuance and reservation for
issuance of the Conversion Shares) will not (i) conflict with or result in a violation of any provision of the Certificate of
Incorporation or By-laws, or (ii) violate or conflict with, or result in a breach of any provision of, or constitute a default
(or an event which with notice or lapse of time or both could become a default) under, or give to others any rights of termination,
amendment, acceleration or cancellation of, any agreement, indenture, patent, patent license or instrument to which the Company
or any of its Subsidiaries is a party, or (iii) result in a violation of any law, rule, regulation, order, judgment or decree
(including federal and state securities laws and regulations and regulations of any self-regulatory organizations to which the
Company or its securities are subject) applicable to the Company or any of its Subsidiaries or by which any property or asset
of the Company or any of its Subsidiaries is bound or affected (except for such conflicts, defaults, terminations, amendments,
accelerations, cancellations and violations as would not, individually or in the aggregate, have a Material Adverse Effect). The
businesses of the Company and its Subsidiaries, if any, are not being conducted, and shall not be conducted so long as the Buyer
owns any of the Securities, in violation of any law, ordinance or regulation of any governmental entity. “Material Adverse
Effect” means any material adverse effect on the business, operations, assets, financial condition or prospects of the Company
or its Subsidiaries, if any, taken as a whole, or on the transactions contemplated hereby or by the agreements or instruments
to be entered into in connection herewith.

 

f.
SEC Documents; Financial Statements. The Company has filed all reports, schedules, forms, statements and other documents
required to be filed by it with the SEC pursuant to the reporting requirements of the Securities Exchange Act of 1934, as amended
(the “1934 Act”) (all of the foregoing filed prior to the date hereof and all exhibits included therein and financial
statements and schedules thereto and documents (other than exhibits to such documents) incorporated by reference therein, being
hereinafter referred to herein as the “SEC Documents”). Upon written request the Company will deliver to the Buyer
true and complete copies of the SEC Documents, except for such exhibits and incorporated documents. As of their respective dates
or if amended, as of the dates of the amendments, the SEC Documents complied in all material respects with the requirements of
the 1934 Act and the rules and regulations of the SEC promulgated thereunder applicable to the SEC Documents, and none of the
SEC Documents, at the time they were filed with the SEC, contained any untrue statement of a material fact or omitted to state
a material fact required to be stated therein or necessary in order to make the statements therein, in light of the circumstances
under which they were made, not misleading. None of the statements made in any such SEC Documents is, or has been, required to
be amended or updated under applicable law (except for such statements as have been amended or updated in subsequent filings prior
the date hereof). As of their respective dates or if amended, as of the dates of the amendments, the financial statements of the
Company included in the SEC Documents complied as to form in all material respects with applicable accounting requirements and
the published rules and regulations of the SEC with respect thereto. Such financial statements have been prepared in accordance
with United States generally accepted accounting principles, consistently applied, during the periods involved and fairly present
in all material respects the consolidated financial position of the Company and its consolidated Subsidiaries as of the dates
thereof and the consolidated results of their operations and cash flows for the periods then ended (subject, in the case of unaudited
statements, to normal year-end audit adjustments). The Company is subject to the reporting requirements of the 1934 Act.

 

    4

     

    

 

g.
Absence of Certain Changes. Since June 30, 2020, except as set forth in the SEC Documents, there has been no material adverse
change and no material adverse development in the assets, liabilities, business, properties, operations, financial condition,
results of operations, prospects or 1934 Act reporting status of the Company or any of its Subsidiaries.

 

h.
Absence of Litigation. Except as set forth in the SEC Documents, there is no action, suit, claim, proceeding, inquiry or
investigation before or by any court, public board, government agency, self-regulatory organization or body pending or, to the
knowledge of the Company or any of its Subsidiaries, threatened against or affecting the Company or any of its Subsidiaries, or
their officers or directors in their capacity as such, that could have a Material Adverse Effect. The Company and its Subsidiaries
are unaware of any facts or circumstances which might give rise to any of the foregoing.

 

i.
No Integrated Offering. Neither the Company, nor any of its affiliates, nor any person acting on its or their behalf, has
directly or indirectly made any offers or sales in any security or solicited any offers to buy any security under circumstances
that would require registration under the 1933 Act of the issuance of the Securities to the Buyer. The issuance of the Securities
to the Buyer will not be integrated with any other issuance of the Company’s securities (past, current or future) for purposes
of any shareholder approval provisions applicable to the Company or its securities.

 

j.
No Brokers. The Company has taken no action which would give rise to any claim by any person for brokerage commissions,
transaction fees or similar payments relating to this Agreement or the transactions contemplated hereby.

 

    5

     

    

 

k.
No Investment Company. The Company is not, and upon the issuance and sale of the Securities as contemplated by this Agreement
will not be an “investment company” required to be registered under the Investment Company Act of 1940 (an “Investment
Company”). The Company is not controlled by an Investment Company.

 

l.
Breach of Representations and Warranties by the Company. If the Company breaches any of the representations or warranties
set forth in this Section 3, and in addition to any other remedies available to the Buyer pursuant to this Agreement, it will
be considered an Event of default under Section 3.4 of the Note.

 

4.
COVENANTS.

 

a.
Best Efforts. The Company shall use its best efforts to satisfy timely each of the conditions described in Section 7 of
this Agreement.

 

b.
Form D; Blue Sky Laws. The Company agrees to timely make any filings required by federal and state laws as a result of
the closing of the transactions contemplated by this Agreement.

 

c.
Use of Proceeds. The Company shall use the proceeds for general working capital purposes.

 

d.
Expenses. At the Closing, the Company’s obligation with respect to the transactions contemplated by this Agreement
is to reimburse Buyer’ expenses shall be $3,000.00 for Buyer’s legal fees and due diligence fee.

 

e.
Corporate Existence. So long as the Buyer beneficially owns any Note, the Company shall maintain its corporate existence
and shall not sell all or substantially all of the Company’s assets, except with the prior written consent of the Buyer.

 

f.
Breach of Covenants. If the Company breaches any of the covenants set forth in this Section 4, and in addition to any other
remedies available to the Buyer pursuant to this Agreement, it will be considered an event of default under Section 3.4 of the
Note.

 

g.
Failure to Comply with the 1934 Act. So long as the Buyer beneficially owns the Note, the Company shall comply with the
reporting requirements of the 1934 Act; and the Company shall continue to be subject to the reporting requirements of the 1934
Act.

 

h.
Trading Activities. Neither the Buyer nor its affiliates has an open short position in the common stock of the Company
and the Buyer agrees that it shall not, and that it will cause its affiliates not to, engage in any short sales of or hedging
transactions with respect to the common stock of the Company.

 

    6

     

    

 

i.
Right of First Refusal. Unless it shall have first delivered to the Buyer, at least forty eight (48) hours prior to the
closing of such Future Offering (as defined herein), written notice describing the proposed Future Offering (“ROFR Notice”),
including the terms and conditions thereof, identity of the proposed purchaser and proposed definitive documentation to be entered
into in connection therewith, and providing the Buyer an option during the forty eight (48) hour period following delivery of
such notice to purchase the securities being offered in the Future Offering on the same terms as contemplated by such Future Offering
(the limitations referred to in this sentence and the preceding sentence are collectively referred to as the “Right of First
Refusal”), the Company will not conduct any equity (or debt with an equity component) financing in an amount less than $150,000
(“Future Offering(s)”) during the period beginning on the Closing Date and ending nine (9) months following the Closing
Date. In the event the terms and conditions of a proposed Future Offering are amended in any respect after delivery of the notice
to the Buyer concerning the proposed Future Offering, the Company shall deliver a new notice to the Buyer describing the amended
terms and conditions of the proposed Future Offering and the Buyer thereafter shall have an option during the forty eight (48)
hour period following delivery of such new notice to purchase its pro rata share of the securities being offered on the same terms
as contemplated by such proposed Future Offering, as amended. Notwithstanding anything contained herein to the contrary, any subsequent
offer by an investor, or an affiliate of such investor, identified on an ROFR Notice is subject to this Section 4(i) and the Right
of First Refusal.

 

j.
The Buyer is Not a “Dealer”.  The Buyer and the Company hereby acknowledge and agree that the Buyer has
not: (i) acted as an underwriter; (ii) acted as a market maker or specialist; (iii) acted as “de facto” market maker;
or (iv) conducted any other professional market activities such as providing investment advice, extending credit and lending securities
in connection; and thus that the Buyer is not a “Dealer” as such term is defined in the 1934 Act.

 

5.
Transfer Agent Instructions. The Company shall issue irrevocable instructions to its transfer agent to issue certificates,
registered in the name of the Buyer or its nominee, for the Conversion Shares in such amounts as specified from time to time by
the Buyer to the Company upon conversion of the Note in accordance with the terms thereof (the “Irrevocable Transfer Agent
Instructions”).  In the event that the Company proposes to replace its transfer agent, the Company shall provide, prior
to the effective date of such replacement, a fully executed Irrevocable Transfer Agent Instructions in a form as initially delivered
pursuant to this Agreement (including but not limited to the provision to irrevocably reserve shares of Common Stock in the Reserved
Amount as such term is defined in the Note) signed by the successor transfer agent to Company and the Company. Prior to registration
of the Conversion Shares under the 1933 Act or the date on which the Conversion Shares may be sold pursuant to an exemption from
registration, all such certificates shall bear the restrictive legend specified in Section 2(e) of this Agreement.  The Company
warrants that: (i) no instruction other than the Irrevocable Transfer Agent Instructions referred to in this Section 5, will be
given by the Company to its transfer agent and that the Securities shall otherwise be freely transferable on the books and records
of the Company as and to the extent provided in this Agreement and the Note; (ii) it will not direct its transfer agent not to
transfer or delay, impair, and/or hinder its transfer agent in transferring (or issuing)(electronically or in certificated form)
any certificate for Conversion Shares to be issued to the Buyer upon conversion of or otherwise pursuant to the Note as and when
required by the Note and this Agreement; and (iii) it will not fail to remove (or directs its transfer agent not to remove or
impairs, delays, and/or hinders its transfer agent from removing) any restrictive legend (or to withdraw any stop transfer instructions
in respect thereof) on any certificate for any Conversion Shares issued to the Buyer upon conversion of or otherwise pursuant
to the Note as and when required by the Note and/or this Agreement.  If the Buyer provides the Company and the Company’s
transfer agent, at the cost of the Buyer, with an opinion of counsel in form, substance and scope customary for opinions in comparable
transactions, to the effect that a public sale or transfer of such Securities may be made without registration under the 1933
Act, the Company shall permit the transfer, and, in the case of the Conversion Shares, promptly instruct its transfer agent to
issue one or more certificates, free from restrictive legend, in such name and in such denominations as specified by the Buyer. 
The Company acknowledges that a breach by it of its obligations hereunder will cause irreparable harm to the Buyer, by vitiating
the intent and purpose of the transactions contemplated hereby.  Accordingly, the Company acknowledges that the remedy at
law for a breach of its obligations under this Section 5 may be inadequate and agrees, in the event of a breach or threatened
breach by the Company of the provisions of this Section, that the Buyer shall be entitled, in addition to all other available
remedies, to an injunction restraining any breach and requiring immediate transfer, without the necessity of showing economic
loss and without any bond or other security being required.

 

    7

     

    

 

6.
Conditions to the Company’s Obligation to Sell. The obligation of the Company hereunder to issue and sell the Note
to the Buyer at the Closing is subject to the satisfaction, at or before the Closing Date of each of the following conditions
thereto, provided that these conditions are for the Company’s sole benefit and may be waived by the Company at any time
in its sole discretion:

 

a.
The Buyer shall have executed this Agreement and delivered the same to the Company.

 

b.
The Buyer shall have delivered the Purchase Price in accordance with Section 1(b) above.

 

c.
The representations and warranties of the Buyer shall be true and correct in all material respects as of the date when made and
as of the Closing Date as though made at that time (except for representations and warranties that speak as of a specific date),
and the Buyer shall have performed, satisfied and complied in all material respects with the covenants, agreements and conditions
required by this Agreement to be performed, satisfied or complied with by the Buyer at or prior to the Closing Date.

 

d.
No litigation, statute, rule, regulation, executive order, decree, ruling or injunction shall have been enacted, entered, promulgated
or endorsed by or in any court or governmental authority of competent jurisdiction or any self-regulatory organization having
authority over the matters contemplated hereby which prohibits the consummation of any of the transactions contemplated by this
Agreement.

 

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7.
Conditions to The Buyer’s Obligation to Purchase. The obligation of the Buyer hereunder to purchase the Note at the
Closing is subject to the satisfaction, at or before the Closing Date of each of the following conditions, provided that these
conditions are for the Buyer’s sole benefit and may be waived by the Buyer at any time in its sole discretion:

 

a.
The Company shall have executed this Agreement and delivered the same to the Buyer.

 

b.
The Company shall have delivered to the Buyer the duly executed Note (in such denominations as the Buyer shall request) in accordance
with Section 1(b) above.

 

c.
The Irrevocable Transfer Agent Instructions, in form and substance satisfactory to the Buyer, shall have been delivered to and
acknowledged in writing by the Company’s Transfer Agent.

 

d.
The representations and warranties of the Company shall be true and correct in all material respects as of the date when made
and as of the Closing Date as though made at such time (except for representations and warranties that speak as of a specific
date) and the Company shall have performed, satisfied and complied in all material respects with the covenants, agreements and
conditions required by this Agreement to be performed, satisfied or complied with by the Company at or prior to the Closing Date.
The Buyer shall have received a certificate or certificates, executed by the chief executive officer of the Company, dated as
of the Closing Date, to the foregoing effect and as to such other matters as may be reasonably requested by the Buyer including,
but not limited to certificates with respect to the Board of Directors’ resolutions relating to the transactions contemplated
hereby.

 

e.
No litigation, statute, rule, regulation, executive order, decree, ruling or injunction shall have been enacted, entered, promulgated
or endorsed by or in any court or governmental authority of competent jurisdiction or any self-regulatory organization having
authority over the matters contemplated hereby which prohibits the consummation of any of the transactions contemplated by this
Agreement.

 

f.
No event shall have occurred which could reasonably be expected to have a Material Adverse Effect on the Company including but
not limited to a change in the 1934 Act reporting status of the Company or the failure of the Company to be timely in its 1934
Act reporting obligations.

 

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8.
Governing Law; Miscellaneous.

 

a.
Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of New York without
regard to principles of conflicts of laws. Any action brought by either party against the other concerning the transactions contemplated
by this Agreement shall be brought only in the state courts of New York or in the federal courts located in the Eastern District
of New York. The parties to this Agreement hereby irrevocably waive any objection to jurisdiction and venue of any action instituted
hereunder and shall not assert any defense based on lack of jurisdiction or venue or based upon forum non conveniens. The
Company and Buyer waive trial by jury. The prevailing party shall be entitled to recover from the other party its reasonable attorney’s
fees and costs. In the event that any provision of this Agreement or any other agreement delivered in connection herewith is invalid
or unenforceable under any applicable statute or rule of law, then such provision shall be deemed inoperative to the extent that
it may conflict therewith and shall be deemed modified to conform with such statute or rule of law. Any such provision which may
prove invalid or unenforceable under any law shall not affect the validity or enforceability of any other provision of any agreement.
Each party hereby irrevocably waives personal service of process and consents to process being served in any suit, action or proceeding
in connection with this Agreement, the Note or any related document or agreement by mailing a copy thereof via registered or certified
mail or overnight delivery (with evidence of delivery) to such party at the address in effect for notices to it under this Agreement
and agrees that such service shall constitute good and sufficient service of process and notice thereof. Nothing contained herein
shall be deemed to limit in any way any right to serve process in any other manner permitted by law.

 

b.
Counterparts. This Agreement may be executed in one or more counterparts, each of which shall be deemed an original but
all of which shall constitute one and the same agreement and shall become effective when counterparts have been signed by each
party and delivered to the other party.

 

c.
Headings. The headings of this Agreement are for convenience of reference only and shall not form part of, or affect the
interpretation of, this Agreement.

 

d.
Severability. In the event that any provision of this Agreement is invalid or unenforceable under any applicable statute
or rule of law, then such provision shall be deemed inoperative to the extent that it may conflict therewith and shall be deemed
modified to conform with such statute or rule of law. Any provision hereof which may prove invalid or unenforceable under any
law shall not affect the validity or enforceability of any other provision hereof.

 

e.
Entire Agreement; Amendments. This Agreement and the instruments referenced herein contain the entire understanding of
the parties with respect to the matters covered herein and therein and, except as specifically set forth herein or therein, neither
the Company nor the Buyer makes any representation, warranty, covenant or undertaking with respect to such matters. No provision
of this Agreement may be waived or amended other than by an instrument in writing signed by the majority in interest of the Buyer.

 

f.
Notices. All notices, demands, requests, consents, approvals, and other communications required or permitted hereunder
shall be in writing and, unless otherwise specified herein, shall be (i) personally served, (ii) deposited in the mail, registered
or certified, return receipt requested, postage prepaid, (iii) delivered by reputable air courier service with charges prepaid,
or (iv) transmitted by hand delivery, telegram, email or facsimile, addressed as set forth below or to such other address as such
party shall have specified most recently by written notice. Any notice or other communication required or permitted to be given
hereunder shall be deemed effective (a) upon hand delivery or delivery by facsimile, with accurate confirmation generated by the
transmitting facsimile machine, at the address or number designated below (if delivered on a business day during normal business
hours where such notice is to be received), or the first business day following such delivery (if delivered other than on a business
day during normal business hours where such notice is to be received) or (b) on the second business day following the date of
mailing by express courier service, fully prepaid, addressed to such address, or upon actual receipt of such mailing, whichever
shall first occur. The addresses for such communications shall be as set forth in the heading of this Agreement with a copy by
fax only to (which copy shall not constitute notice) to Naidich Wurman LLP, 111 Great Neck Road, Suite 214, Great Neck, NY 11021,
Attn: Allison Naidich, facsimile: 516-466-3555, e-mail: allison@nwlaw.com. Each party shall provide notice to the other party
of any change in address.

 

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g.
Successors and Assigns. This Agreement shall be binding upon and inure to the benefit of the parties and their successors
and assigns. Neither the Company nor the Buyer shall assign this Agreement or any rights or obligations hereunder without the
prior written consent of the other. Notwithstanding the foregoing, the Buyer may assign its rights hereunder to any person that
purchases Securities in a private transaction from the Buyer or to any of its “affiliates,” as that term is defined
under the 1934 Act, without the consent of the Company.

 

h.
Survival. The representations and warranties of the Company and the agreements and covenants set forth in this Agreement
shall survive the closing hereunder notwithstanding any due diligence investigation conducted by or on behalf of the Buyer. The
Company agrees to indemnify and hold harmless the Buyer and all their officers, directors, employees and agents for loss or damage
arising as a result of or related to any breach or alleged breach by the Company of any of its representations, warranties and
covenants set forth in this Agreement or any of its covenants and obligations under this Agreement, including advancement of expenses
as they are incurred.

 

i.
Further Assurances. Each party shall do and perform, or cause to be done and performed, all such further acts and things,
and shall execute and deliver all such other agreements, certificates, instruments and documents, as the other party may reasonably
request in order to carry out the intent and accomplish the purposes of this Agreement and the consummation of the transactions
contemplated hereby.

 

j.
No Strict Construction. The language used in this Agreement will be deemed to be the language chosen by the parties to
express their mutual intent, and no rules of strict construction will be applied against any party.

 

k.
Remedies. The Company acknowledges that a breach by it of its obligations hereunder will cause irreparable harm to the
Buyer by vitiating the intent and purpose of the transaction contemplated hereby. Accordingly, the Company acknowledges that the
remedy at law for a breach of its obligations under this Agreement will be inadequate and agrees, in the event of a breach or
threatened breach by the Company of the provisions of this Agreement, that the Buyer shall be entitled, in addition to all other
available remedies at law or in equity, and in addition to the penalties assessable herein, to an injunction or injunctions restraining,
preventing or curing any breach of this Agreement and to enforce specifically the terms and provisions hereof, without the necessity
of showing economic loss and without any bond or other security being required.

 

[THE
REMAINDER OF THIS PAGE IS INTENTIONALLY LEFT BLANK]

 

    11

     

    

 

IN
WITNESS WHEREOF, the undersigned Buyer and the Company have caused this Agreement to be duly executed as of the date first above
written.

 

GBT
TECHNOLOGIES INC.

 

By:
________________________________

Mansour
Khatib

Chief
Executive Officer

 

 

REDSTART
HOLDINGS CORP.

 

By: ________________________________

Gregg
B. Solomon

President

 

 

AGGREGATE
SUBSCRIPTION AMOUNT: 

 

	Aggregate Purchase Price:	 	$	78,000.00	 
	 	 	 	 	 
	Original Issue Discount:	 	$	15,600.00	 
	 	 	 	 	 
	Aggregate Principal Amount of Note:	 	$	93,600.00	 

 

    12Labor
Contract

 

Party
A (employer): Wunong Technology (Shenzhen) Co., Ltd.

Address:
B401, Building 4, Building 12, Shuangchuang Park, Zhichuang Matrix, Hangcheng Street, Baoan District, Shenzhen

Legal
representative: Changbin Xia

Contact
number: 0755-85255139

 

Party
B (employee): Lin He

ID
number: 430721198312230072

Current
residence address: Room 304, Chentian Village 2513 South, Baoan District, Shenzhen

Contact
number: 18923742518

Emergency
contact number: 18923791912

 

Tips:
In order to protect the rights of workers, please read the terms and conditions of this agreement carefully. If you have any questions,
you can consult the company’s human resources staff. By signing this agreement, you understand and agree to the terms and
conditions of this agreement. You also agree that as employee of Party A, you shall abide by various management regulations formulated
by Party A according to law.

 

According
to the “Labor Law of the People’s Republic of China” (hereinafter referred to as “Labor Law”), “Labor
Contract Law of the People’s Republic of China” (hereinafter referred to as “Labor Contract Law”), and
other relevant laws and regulations, both parties sign this agreement in accordance with the principles of fairness, equality,
voluntariness, negotiation, honesty, and trustworthiness, and agree to abide by the terms listed in this contract.

 

    	 	 	 

    	 

    

 

I.
Commitment

 

Article
1 Party A and Party B shall sign this labor contract and express their consent to establish a labor relationship and perform
the labor contract in accordance with Party A’s enterprise management system.

 

Article
2 Both parties agree that at the time of signing this labor contract, Party A has truthfully informed Party B of the work
content, working conditions, work location, occupational hazards, safety production status, labor remuneration, and other circumstances
that Party B is required to know: Party A has the right to know Party B, and Party B shall truthfully and comprehensively provide
basic information required by this labor contract and required by Party A.

 

Article
3 Party B’s statement and guarantee: Before this contract comes into effect, it has terminated labor contract relationships
with other employers, and its employment under this contract does not violate Party A’s previous agreement with other third
parties. If this contract violates the agreement of Party B’s previous documents signed with other third parties, Party
A has the right to terminate this contract without any conditions and without any compensation, Party B shall be subject to Party
A’s compensation (including but not limited to actual losses as well as indirect and rights-saving costs).

 

II.
Contract period

 

Article
4 The term type of this contract is a fixed term contract. The effective date of this contract is from May 2, 2019 to May
1, 2022, with a trial period of one month.

 

Article
5 Party A shall retain the premise of not violating labor laws and regulations according to the assessment results of Party
B’s probation period. The appropriate extension shall be negotiated by both parties.

 

III.
Work content

 

Article
6 Party A and Party B agree that Party A shall employ Party B to work in the company. Party B will be mainly engaged in the
position of CFO, which is the main position of Party B. In addition to the main position, Party B’s superior supervisor
may temporarily arrange other work according to the needs of the work. Further, both Parties agree that Wunong Net Technology
Company Limited shall also employ Party B in the position of CFO.

 

Article
7 After the negotiation between the two parties, the main position of Party B may be adjusted.

 

    	 	 	 

    	 

    

 

Article
8 In accordance with the content, scope and duties as stipulated by Party A, Party B shall accomplish tasks on time, with
good quality and required quantity. Party A can assess the work of Party B.

 

IV.
Working place, working hours, working conditions and labor protection

 

Article
9 The working place of Party B is in Shenzhen, except for working or studying in other places, and long-term business trips.

 

Party
A may change Party B’s position (type of work) and place of work due to work needs and in the event that Party B is unable
to competently carry out the requirements of his job position.

 

Article
10 Labor time:

 

Party
A and Party B agree to implement a standard working hour system. Party A shall arrange for Party B’s working hours as follows:
from 09:00 to 12:00, and 13:30 to 18: 00 pm (refer to the “Employees’ Guidance Guide Manual” for detailed schedules).

 

Party
A shall reasonably arrange Party B’s work tasks. Party A shall cooperate with Party B to extend the working hours of Party
B due to work needs, and Party B shall allow Party A to make a compensatory time off or a change of time.

 

Article
11 If Party B has work-related injuries, illnesses, breastfeeding, etc., Party A may adjust the position of Party B according
to the actual situation of Party B, and Party B shall obey. If changes are made to the job or work content, salary will remain
the same.

 

Article
12 Labor conditions:

 

1.
Party A shall provide a working environment that meets the labor safety standards set by the Country to ensure the safety and
health of Party B during the course of work.

 

2.
Based on the actual needs of Party B, Party A shall provide Party B with necessary labor protection supplies in accordance with
relevant state regulations.

 

3.
Party A shall implement special labor protection for female employees in accordance with state regulations.

 

Article
13 The Parties unanimously agree that when one of the following objective situations occur, Party A has the right to adjust
Party B’s work position, work location, salary, bonus, welfare, and other treatments accordingly:

 

1.
Party A cancels or merges departments or posts according to the needs of the business development;

 

    	 	 	 

    	 

    

 

2.
Party A needs to relocate or partially relocate due to business development;

 

3.
Party B rotates or competes according to Party A’s rules and regulations;

 

4.
According to work needs, the working ability performance of Party B, in accordance with the principles of good faith and reasonableness,
and in accordance with the rules and regulations formulated by democratic procedures, after explaining the situation to Party
B;

 

5.
Party B may cause damage to Party A’s interests or affect Party A’s normal operations;

 

6.
If Party B’s job involves Party A’s trade secrets or has a significant impact on Party A’s production and operation,
Party A may adjust Party B’s job position and change the relevant provisions of the labor contract 3 months prior to termination
of the contract;

 

7.
Party B was demoted or dismissed by Party A in violation of Party A’s rules and regulations or labor discipline

 

8.
Party A may temporarily adjust the work content of Party B, in accordance with production and operational needs. The temporary
adjustment shall not be regarded as Party B’s change of work content.

 

V.
Labor Remuneration

 

Article
14. Both Parties confirm that Party B shall implement the following wage formation Base salary + other compensation: base
salary shall be RMB 2200, and shall be no less than the local minimum wage, and if time worked is less than one month, salary
shall be calculated according to actual dates worked; other compensation include, but is not limited to, performance salary
(other specific salary structures will be set up by Party A, based on the different positions of Party B, and the specific
provisions of the salary management system announced by Party A shall prevail). The final salary paid shall not be lower than
the local minimum wage, but if the working time is less than one month, it shall be calculated according to the actual dates
worked.

 

1.
The Parties agree that Party A shall determine Party B’s wages in accordance with the current wage standards of the company.
During the probation period, salary shall be 1 yuan, and after conversion, salary shall also be 1 yuan.

 

2.
Party A shall pay Party B’s previous month’s salary on the 8th of each month. If Party B leaves its position, Party
B agrees that the salary on the day it leaves office will also be paid on the next salary payment date.

 

    	 	 	 

    	 

    

 

Article
15. Based on the actual circumstances of the company, Party A has formulated a system for salary changes when a position changes.
Based on this principle, the Parties agree that Party A can change Party B’s wage standard when Party B’s position
changes.

 

Article
16. The Parties agree that Party A may adjust Party B’s salary in time, either according to the operation status or
based on Party B’s actual working ability and performance (subject to the Human Resources Department and Department manager’s
assessments).

 

Article
17.

 

		(1)	Deduction
                                         and withholding of employees’ personal income tax
	 	 	 
		(2)	Deduction
                                         and payment of personal social insurance premiums, housing provident fund
	 	 	 
		(3)	Maintenance
                                         and alimony required to be withheld pursuant to a court decision
	 	 	 
		(4)	Deduction
                                         of expenses compensated to the company according to law
	 	 	 
		(5)	Deduction
                                         of fines imposed by the company for employees’ violations of rules and regulations
	 	 	 
		(6)	Wages
                                         that may be reduced as stipulated in the labor contract
	 	 	 
		(7)	The
                                         company’s rules and regulations formulated according to law stipulate that wages
                                         can be reduced
	 	 	 
		(8)	Flexible
                                         reduction in salary due to economic downturn
	 	 	 
		(9)	Employee’s
                                         salary cut due to a leave of absence or sick leave
	 	 	 
		(10)	Wages
                                         or expenses deductible by law or regulation

 

VI.
Social Insurance and Welfare Benefits

 

Article
18. Party and Party B agree to participate in social security according to the relevant regulations of the state and province.

 

Article
19. For non-work-related injuries or illnesses, Party A shall provide Party B with medical treatment period and medical expectancy
according to the relevant state, province, and municipality regulations.

 

Article
20. For work-related injuries or illnesses, Party A shall abide by the provisions of the Law of the People’s Republic
of China on the Prevention and Control of Occupational Diseases and Regulation on Work-Related Injury Insurance and other relevant
laws and regulations.

 

    	 	 	 

    	 

    

 

Article
21. If Party B does not need to purchase social security, it shall submit a formal written request to Party A. If Party A’s
payment of social security is delayed because of Party B, the consequences shall be borne by Party B and shall not be the responsibility
of Party A.

 

Article
22. Party B shall take the initiative to apply for leave during the company’s approved period. Failure to apply for
leave in accordance with the above provisions shall be deemed a waiver of such leave, and Party A need not provide any compensation
or other expenses in return. Party B confirms that it has no objections to this. If Party B has leave not taken before they leave
office, Party B may take such leave. Otherwise, Party B shall give up such leave. When employees leave office, leave not taken
does not offset any expenses, such as salary or economic compensation. Party B confirms that it has no objections.

 

VII.
Regulations, Labor Records

 

Article
23. The rules and regulations designated by Party A (employees of the right-to-use company) have been adopted and promulgated
pursuant to legal procedures.

 

Article
24. The rules and regulations designated by Party A were formulated using Party B’s rules, and at the time of signing
of this Agreement, the Parties have been fully informed.

 

Article
25. At the time of signing of this Agreement, Party B has no objections to Party A’s rules and regulations.

 

Article
26. Party B shall abide by the rules and regulations formulated by Party A in accordance with the law; strictly abide by labor
safety and health, operating procedures and scope of work, protect Party A’s property and abide by professional ethics,
actively participate in Party A’s training and improve its vocational skills.

 

Article
27. If Party B violates any labor regulations, Party A may, according to the rules and regulations of the company, grant different
levels of administrative disciplinary action according to the specific circumstances until the contract is terminated.

 

Article
28. Party A has the right to give Party B appropriate rewards or penalties within the scope of the business in accordance
with Party B’s performance or behavior, and in accordance with the laws and regulations of the State and the rules and regulations
formulated by Party A.

 

Article
29. If Party B causes economic losses to Party A, Party B may be required to compensate Party A for such loss in accordance
with the labor contract. Compensation for economic losses can be deducted from Party B’s wages. However, if the deduction
standard and method exceeds 20% of Party B’s monthly salary, consent must first be obtained from Party B.

 

    	 	 	 

    	 

    

 

Article
30. Party B shall be responsible for Party A’s property in its custody, use, or management, and shall maintain its integrity.
If the property is damaged or lost, it shall be compensated according to its actual price. When Party B leaves the company, the
property should be returned to Party A.

 

Article
31. Party B promises that if there is any change in the application information, Party B shall promptly notify Party A (within
seven days from the date of change). If Party B fails to notify Party A in time, Party B shall be deemed to have seriously violated
Party A’s rules and regulations.

 

Article
32. Party B is aware of the confidentiality provisions designated by Party A and promises to abide by it. If a violation occurs,
Party B agrees to voluntarily be punished accordingly.

 

VIII.
Confidentiality provisions

 

Article
33 Party B shall keep Party A’s trade secrets, and the specific matters are as the following:

 

1.
Confidential content and scope: Party A’s trade secrets, Party A’s partners and customers’ trade secrets. The
scope of confidentiality includes, but is not limited to, the following contents: technical information, business information,
management information, intellectual property rights, remuneration system, and matters and the confidentiality obligations of
Party A to partners and customers in accordance with the provisions of the law or relevant agreements. All confidential information
shall be returned to Party A before leaving the company, and the trade secrets that it knows shall be kept for three years from
the date of separation.

 

Article
34 Restrictions of second occupation:

 

Party
B agrees not to engage in a second occupation during his tenure at Party A. Without the written consent of Party A or the relevant
agreement with Party A, it will not be employed in other enterprises that produce or operate similar products or provide similar
services with Party A. These positions include, but are not limited to, partners, directors, supervisors, shareholders, managers,
employees, agents, consultants, etc., and do not indirectly provide services to the above-mentioned enterprises.

 

Article
35 Effectiveness and termination of confidentiality obligations:

 

Party
A shall pay Party B a confidentiality fee, which shall be included in the remuneration. However, when the employee leaves the
company, the company will not pay any additional confidentiality fees, and the confidentiality period continues for three years
after the employee leaves the company.

 

    	 	 	 

    	 

    

 

Article
36 Party B shall abide by the non-competition restrictions within two years after the termination of the labor contract. The
scope, geographical, economic compensation and breach of contract obligations of the competition restrictions are as follows:
abide by professional ethics, Party B shall not contact Party A’s clients in any way after leaving the company. Party A
has the right to conduct legal investigation and economic compensation to Party B.

 

Article
37 Liability for breach of contract: If Party A’s loss is caused by Party B’s breach of contract, or if Party
A’s customers or partners lose money, Party B shall compensate for the losses suffered as a result.

 

IX.
The ownership of intellectual property rights and other rights

 

Article
38. The intellectual property achievements such as patents and copyrights formed during the period of Party B’s employment
shall be vested in Party A. Party A shall give certain rewards according to the economic benefits of Party B’s intellectual
property achievements.

 

Article
39. Party B shall perform the tasks of Party A or mainly use the material and technical conditions of Party A to complete
the intellectual property achievements that belong to Party A.

 

Article
40. If applicable laws and regulations stipulate that certain rights in intellectual property rights must be given to Party
B and the parties are not allowed to agree otherwise on the vesting of rights, Party B agrees to implement the following terms:

 

(1)
If laws and regulations permit all or part of these rights to be transferable, Party B agrees to transfer these rights to Party
A without compensation.

 

(2)
If Party B cannot transfer all or part of its rights to Party A in accordance with applicable laws and regulations, or if the
person is unable to obtain the government approval necessary for such transfer, Party B will use the right to transfer without
permission to Party A. The license to use in this section shall be irrevocable, exclusive (excluding Party B and all third parties),
worldwide and transferable, and Party A has the right to re-license the use of such rights. Party A has unlimited indemnity and
re-licensing rights.

 

(3)
According to laws and regulations, if certain rights cannot be transferred or permitted by Party B in accordance with Clause 1
and Clause 2, Party B agrees not to exercise such rights without Party A’s written consent, including but not limited to
the right of authorship in the results. And other rights.

 

    	 	 	 

    	 

    

 

X.
Amendments to the contract

 

Article
41. This contract may be amended if formal written consent is obtained from both Parties, and the amendment(s) are also executed
by both parties.

 

XI.
Discharge and termination of the contract

 

Article
42. If both parties are in agreement, the contract may be terminated.

 

Article
43. If Party B informs Party A in writing 30 days in advance, it may terminate the labor contract; Party B may notify Party
A three days before the trial period, and the labor contract may be terminated.

 

Article
44. Party B may notify Party A to terminate this labor contract if one of the following circumstances occurs:

 

(1)
failing to provide labor protection or labor conditions in accordance with the labor contract;

 

(2)
failing to fully and timely pay labor compensation;

 

(3)
failing to pay social insurance premiums to Party B according to law;

 

(4)
Party A’s rules and regulations violate the provisions of laws and regulations and damage Party B’s rights and interests;

 

(5)
Party A uses fraud, coercion or arbitrage to cause Party B to enter into or change this contract in violation of the true meaning,
resulting in invalidation of the labor contract;

 

(6)
Party A exempts its statutory responsibilities and excludes Party B’s rights, resulting in invalid labor contracts;

 

(7)
Party A violates mandatory provisions of laws and administrative regulations, resulting in invalid labor contracts;

 

(8)
Laws and administrative regulations stipulate that Party B may terminate other circumstances of the labor contract.

 

Article
45. If Party A forces Party B to work by means of violence, threats, or illegal restrictions on personal freedom, or Party
A violates the rules and forces the risky operation to endanger the personal safety of Party B, Party B may immediately terminate
the labor contract without prior notice.

 

    	 	 	 

    	 

    

 

Article
46. Party A may notify Party B to terminate this labor contract if one of the following circumstances occurs:

 

(1)
The certificate during the probation period does not meet the conditions for employment;

 

(2)
Providing false identity documents, academic credentials, and personal data such as resumes and abilities to prepare for employment
when applying for and applying for employment;

 

(3)
Serious violation of the company’s rules and regulations;

 

(4)
The company has caused serious economic losses to the company due to the dereliction of duty and malpractices;

 

(5)
Instigating disputes, recruiting people to form a faction, disrupting other normal working order and business activities of the
company;

 

(6)
Defamation and dissemination of rumors about the company or employees outside the company, causing significant damage to the company’s
image;

 

(7)
Engaging in non-company work during working hours and using the company’s resources for private work;

 

(8)
Leak the company’s important trade secrets and cause economic losses to the company;

 

(9)
Poor work attitude, neglect of his job, negative absenteeism, obstructing the work of others, and is not corrected or repeated
by the company;

 

(10)
Doing a part-time job;

 

(11)
Being investigated by the judicial authorities for criminal responsibility.

 

Article
47. For the following circumstances, Party A may terminate the labor contract after notifying Party B in written form 30 days
in advance or by paying Party B an additional monthly salary:

 

(1)
If Party B is sick or not injured by work, he or she cannot perform the original work after the prescribed medical period expires,
nor can he engage in any work arranged by Party A;

 

(2)
Party B is not qualified for the job, and after training or adjusting the position, Party B is still not qualified for the job;

 

(3)
The objective situation on which the labor contract was based was significantly changed, resulting in the inability to perform
the labor contract. After the negotiation between the two parties, it was not possible to reach an agreement on changing the content
of the labor contract.

 

    	 	 	 

    	 

    

 

Article
48. Under the following circumstances, Party A needs to reduce more than 20 personnel or reduce less than 20 persons but accounts
for more than 10% of the total number of employees of Party A, Party A shall notify the trade union 30 days in advance. If the
workers explain the situation and listen to the opinions of the trade unions or employees, and report the reduction plan to the
labor administrative department, the personnel can be reduced:

 

(1)
Reorganization in accordance with the provisions of the Enterprise Bankruptcy Law;

 

(2)
Serious difficulties in production and operation;

 

(3)
Enterprise conversion, major technological innovation or adjustment of business methods, after changing the labor contract, still
needs to lay off personnel;

 

(4)
Other major changes in the objective economic conditions on which cannot to fulfill the contract.

 

Article
49. Under any of the following circumstances, the labor contract shall be terminated:

 

1.
The expiration of the labor contract;

 

2.
Party B starts to enjoy basic pension insurance benefits according to law;

 

3.
Party B dies or is declared dead or declared missing by the people’s court;

 

4.
Party A is declared bankrupt according to law;

 

5.
Party A’s business license is revoked, is ordered to close, or Party A decides to dissolve in advance;

 

6.
Other circumstances as stipulated by laws and administrative regulations.

 

Article
50. After the expiration of the labor contract, if both parties request the renewal of this contract, the renewal shall be
completed within 30 days prior to the expiration of the term, the other party shall be notified in written form, and the labor
contract may be renewed upon mutual agreement.

 

XII.
Dissolution and termination of the contract

 

Article
51. If Party A and Party B terminate this contract, Party B shall handle the work according to the agreement of both parties.
Party A shall issue a written certificate to Party B according to law, and shall, within fifteen days, handle the procedures for
transferring the file and social insurance relationship for Party B.

 

    	 	 	 

    	 

    

 

XIII.
Treatment of Dispute

 

Article
52. If a labor dispute arises between Party A and Party B, it shall be settled through negotiated settlement. If the negotiation
fails, the Parties may seek resolution from the unit trade union or apply for mediation at the labor dispute mediation committee
where the unit is located. If there is no objection to the arbitral award, both parties must perform; if they are dissatisfied
with the arbitral award, they may sue in the people’s court.

 

XIV.
Liability for breach of contract

 

Article
53. If either Party A or Party B breaches the contract and causes economic losses to the other party, it shall be liable for
breach of contract. The specific amount of compensation shall be determined according to laws, regulations, and the degree of
economic losses caused to the other party.

 

Article
54. If Party B fails to perform the work transfer obligation in accordance with the clause of this contract, the period required
for the transfer of the work shall be the basis for calculation, and the salary income of the previous month when Party B terminates
the labor contract, and pay Party A liquidated damages on the basis of the standard salary of last month.

 

Article
55. During the term of this contract, Party A and Party B shall sign a special agreement (such as service period agreement,
non-disclosure agreement, etc.) through negotiation. The special agreement is an annex to the contract. For any inconsistent regulations,
the special agreement shall prevail.

 

XV.
Other regulations

 

Article
56. Party A and Party B confirm the “residence (contact address)” provided by the parties in this contract. For
the valid contact address of both parties (if Party B does not provide it, the ID address will be used as the contact address);
If there is any changes, the change party shall promptly notify the other party; otherwise, the responsibility for undeliverable
due to the change of address shall be committed by the change party.

 

Article
56. If Party A and Party B agree that the labor relationship between the two parties is terminated or cancelled for any reason,
Party B shall take the initiative to handle the handover of work to Party A; otherwise, Party A has the right not to pay wages
or compensation to Party B or any other expenses. If the loss is not handled in time for Party A, Party B shall be responsible
for damages.

 

    	 	 	 

    	 

    

 

Article
57. When signing this agreement, Party A shall deliver and publicize Party A’s “Company Management System”
to Party B, and Party B shall read it carefully and comply. If Party A’s management system conflicts with this contract,
the contract shall prevail, and the management system shall stipulate that the management system shall prevail. Party B agrees
that Party A shall revise the company’s various management systems in a timely manner according to the operations of the
company. The amendment may be made by Party A alone or by part of the company’s employee representatives. Party B shall
follow the revised rules and regulations, even if Party B does not participate. The referral represents participation in the revision
of the relevant system.

 

Article
58. This contract shall be made in duplicate, each Party shall hold one copy (Party B confirms that this contract has been
received), which has the same legal effect and shall take effect on the date of signed and sealed by both parties.

 

Article
59. The unaccomplished matters of this contract may be signed separately as an annex and shall be performed together with
this contract.

 

Article
60. Party B has all clearly understood the rules and regulations established by Party A and the rules and regulations, and
the other rules and regulations formulated by Party A have the same legal effect as this contract.

 

Article
61. The final interpretation right of this contract belongs to Party A.

 

	Party
    A (signature):	Party
    B: (signature):
	 	 
	Legal
    representative: Changbin Xia	 
	 	 
	Date:	Date:

 

    	 	 	 

    	 

    

 

Wunong
Technology (Shenzhen) Co., Ltd.

 

Labor
Contract

 

Party
A (employer) Name: Wunong Technology (Shenzhen) Co., Ltd.

Address:
B401, 4th Floor, Building 12, Zhichuang Matrix Shuangchuang Park, Hangcheng Street, Baoan District, Shenzhen

Legal
Representative: Xia Changbin

Contact
Number: 0755-85255139

 

Party
B (employee) Name: Qin Xiaogang

ID
Number: 420624197503142216

Current
Residential Address:Youth Home, Nanshan District, Shenzhen

Contact
Number: +86 13332928279

E-mail:
182069648@qq.com

Emergency
Contact’s Information: Zeng Yi Yun; +86 13392828948

 

    	 

     

    

 

Tips:
For protection of the rights of labors, please read the terms and commitments of this agreement carefully. If you have any
questions, please consult the staff in HR Department of the employer. Upon signing this contract, it shall be deemed, as the employee
of the Party A, to be your agrees on the terms of the contract and various management regulations formulated by Party A as per
related laws.

 

In
conformation with the Labor Law of the People’s Republic of China (hereinafter referred to as Labor Law) , Labor Contract
Law of the People’s Republic of China (hereinafter referred to as Labor Contract Law) and other relevant laws and regulations,
with the principle of fair, equality, free will, negotiation, and honesty and trustworthiness, Party A and Party B hereby conclude
this Labor Contract. The terms listed in this Labor Contract are as follow:

 

I.
Commitment

 

Article
1 Party A and Party B conclude this Labor Contract with expressly stated consent to establish a labor relationship and perform
this Labor Contract as per enterprise management system of Party A.

 

Article
2 Both parties agree on that at the time of signing this Labor Contract, Party A has truthfully informed Party B the contents
of work, working conditions, work place, occupational hazards, safety production status, labor remuneration, and other circumstances
that Party B requires to know; Party A has the right to know the basic situation, which is directly related to Party B, Party
B shall provide Party A with the basic information in a true and comprehensive manner.

 

Article
3 Party B state and guarantee that Party B, before the contract comes into effect, has to terminate the Labor Contract relationship
with other employers, and its employment under this Labor Contract does not violate previous agreement signed with other third
parties. In case that this Labor Contract violates previous documents or agreements signed between Party B and other third parties,
Party A has the right to terminate this Labor Contract without any conditions and without any compensation, Party B shall bear
the compensation for Party A, including but not limited to actual losses, indirect losses and rights-saving costs.

 

    	 

     

    

 

II.
Term of This Contract

 

Article
4 This Labor Contract is a fixed term contract. The effective date of this Labor Contract is from May
1st, 2019 to May 1st, 2022, with a probation period of one month.

 

Article
5 Party A shall reserve the right to extend this Labor Contract with Party B under mutual consent of both parties as long
as there is no Party B’s violations of the regulations and provisions of Labor Contract during the probation period.

 

III.
Work Content

 

Article
6 Party A and Party B agree on that Party A shall employ Party B to work in the Company, mainly engaged in the position of
CEO, which is the main position of Party B; in addition to the main position, Party B’s superior supervisor
may temporarily arrange other work according to the needs of the work. Further, both Parties agree that Wunong Net Technology
Company Limited shall also employ Party B in the position of CEO.

 

Article
7 The main position of Party B may be adjusted upon the negotiation between both parties.

 

Article
8 Party B shall accomplish tasks on time with good quality and required quantity. Party A can assess the work of Party B in
accordance with the content, scope and duties as stipulated by Party A.

 

IV.
Working Place, Working Schedule, Working Conditions & Labor protection

 

Article
9 The working place of Party B is Shenzhen, except for working or studying in other places, and long-term business
trips.

 

    	 

     

    

 

Party
A may change Party B’s position (type of work) and place of work due to work needs and the occurrence of Party B’s
incompetent job problems.

 

Article
10 Working Schedule

 

Party
A and Party B agree to implement the standard working hours system. Party A shall arrange Party B’s working hours from 09:00
to 12:00 am., and 13:30 to 18: 00 pm. (refer to the Employee Entrance Handbook for details).

 

Party
A shall reasonably arrange work tasks of Party B, and Party B shall coordinate with Party A in case of requests for extending
the working hours of Party B due to work needs, and Party B shall be allowed by Party A to make a compensatory time off or a change
of time off.

 

Article
11 In case that work-related injuries, illnesses, breastfeeding, etc. occurs to Party B, Party A may adjust the position of
Party B according to the actual situation of Party B, and Party B shall abide by. The job or work shall be content adjusted with
the treatment unchangeable.

 

Article
12 Labor Condition:

 

1.
Party A shall provide a working environment that meets the labor safety standards set by the Country to ensure the safety and
health of Party B in the course of work.

 

2.
Party A shall in accordance with the state regulations provide Party B with necessity of labor protective articles based on the
actual working environment.

 

3.
Party A shall in accordance with the state regulations offer special labor protection to female employees.

 

Article
13 Both parties agree that Party A has right to change the position or working place of Party B and the salary, compensation
, bonus and welfare varies therefrom in case of any of the following objective situations on the part of Party A :

 

1.
Party A cancels or merges departments or positions according to the needs of business development.

 

    	 

     

    

 

2.
Party A needs to be relocated or partially relocated due to business development.

 

3.
Party B rotates or competes for posts according to Party A’s rules and regulations.

 

4.
Party A has given Party B expressly stated information about the change of position or working place based on the work needs and
work ability and performance of Party B, in accordance with the principle of good faith and reasonable and the rules and regulations
formulated as well as democratic procedures.

 

5.
Party B jeopardizes the interest of Party A or takes a horrible toll on the normal operation of Party A.

 

6.
Party A has right to change the position of Party B and the related provisions in Labor Contract before the dissolution or termination
of the contract if the job of Party B has access to the business secret or plays a great role in the operation of Party A.

 

7.
Party B is demoted or dismissed by Party A for violating rules and regulations or labor discipline of Party A.

 

8.
Party A may temporarily adjust Party B’s work content due to the needs of production and operation, which shall not be deemed
to be the change of work content of Party B.

 

V.
Labor Remuneration

 

Article
14 Both parties agree on the following remuneration system for Party B:

 

Basic
salary plus miscellaneous items: the basic salary is 2,200.00 RMB, which shall not be lower than the local minimum
wage standard. In case that the working time is less than one month, it shall be calculated according to the actual time; miscellaneous
items include but are not limited to performance salary (other specific items and structures shall be set by Party A according
to different positions of Party B, of which details shall be subject to specific regulations of salary management system publicized
by Party A). Meanwhile the actual and final payment for the job shall be not lower than the local minimum wage, and in case of
the working time less than one month, it shall be calculated by the actual time.

 

1.
Both parties agree on the current remuneration system for the confirmation of the compensation of Party B. Compensation amid
the probation is       /    RMB, amid the regularization
      /    RMB.

 

    	 

     

    

 

2.
Party A shall pay Party B in currency the compensation of last month on the 8th day of each month. In case that Party B leaves
the Company, Party B agrees that the compensation up to the date of resignation shall also be paid on the next payment day.

 

Article
15 Party A formulates a system for change of position and compensation, according to which the both parties agree that the
remuneration of Party B could be change while Party A change the position of Party B.

 

Article
16 Both parties agree that Party A may adjust the compensation of Party B based on the actual business and operation situation
of Party A as well as the actual competence and performance of Party A which shall be subject to the result of performance appraise
given by HR Dept and the Manager of the Dept.

 

Article
17 In case of any of the following circumstances, Party A may deduct or reduce several payments from salary of Party B, which
shall not be deemed to be improper reduction:

 

(1)
To withhold individual income tax of employees;

 

(2)
To withhold and pay the social insurance premium and housing accumulation fund borne by employees;

 

(3)
To withhold the alimony or cost of support required by judgment or ruling;

 

(4)
To deduct the expenses compensated to the Company according to law;

 

(5)
To deduct the fine imposed by the Company for the employee’s violation of rules and disciplines;

 

(6)
To deduct the the part of salary that can be reduced as stipulated in the Labor Contract.

 

(7)
To deduct the the part of salary that can be reduced according to the Company’s rules and regulations.

 

(8)
To deduct the fluctuating part of salary while there is the decrease of economic benefits of Party A;

 

(9)
To deduct the part of salary due to personal leave or sick leave;

 

(10)
To deduct the part of salary or expenses that can be deducted according to laws, regulations and rules.

 

    	 

     

    

 

VI.
Social Insurance & Welfare

 

Article
18 Party A and Party B shall participate in social insurance and pay social insurance premium in accordance with relevant
regulations of the state, province and city.

 

Article
19 If Party B suffers from illness or non-work related injury, Party A shall provide Party B with medical treatment period
and related support according to relevant national, provincial and municipal regulations.

 

Article
20 If Party B suffers from occupational disease or work-related injury, Party A shall comply with the provisions of the law
on the prevention and control of occupational diseases, the regulations on work-related injury insurance and other relevant laws
and regulations.

 

Article
21 If Party B does not need social insurance, it shall apply to Party A in formal written form. If Party A delays to pay social
insurance for Party B due to Party B’s reasons, the consequences arising therefrom shall be borne by Party B itself, which
has nothing to do with Party A.

 

Article
22 For the due holiday of Party B, Party B shall take the initiative to apply for leave from the Company and finish the holiday
leave within the approval period of the Company. It shall be deemed that Party B has no objection to Party A’s waiver of
its leave if Party B fails to apply for leave in accordance with the above provisions. And in this regard, Party B agrees that
Party A shall not pay any compensation or allowance or any other expenses. Party B shall apply for holiday leave before leaving
office if there is any holiday leave left before leaving office, it shall be deemed that Party B gives up the holiday holiday
leave left. When the employee leaves office, the holiday leave not taken shall not be converted into any expense such as salary
or economic compensation, to which Party B has no objection.

 

VII.
Rules & Regulations, Labor Discipline

 

Article
23 The rules and regulations formulated by Party A (applicable to all employees of the Company) have been passed in accordance
with legal procedures and publicized.

 

Article
24 Special rules of Party A applicable to Party B have been fully informed to Party B when signing this Contract.

 

Article
25 Party B has known and confirmed the rules and regulations that have been in effect at the time of signing this Contract,
to which Party B has no objection.

 

Article
26 Party B shall abide by the rules and regulations formulated by Party A in accordance with the law; strictly abide by rules
of the labor safety and health, operation procedures and work scope; take good care of property of Party A and abide by professional
ethics; actively participate in the training organized by Party A to improve professional skills.

 

    	 

     

    

 

Article
27 If Party B violates the labor discipline, Party A may, according to the Company’s rules and regulations, give different
degrees of administrative disciplinary actions according to the circumstances, until the contract is terminated.

 

Article
28 Party A has the right to give Party B appropriate rewards or penalties within the scope of the enterprise according to
Party B’s performance or behavior, national laws and regulations and rules and regulations formulated by Party A according
to law.

 

Article
29 If Party B causes economic losses to Party A, Party A may require Party B to compensate for the economic losses in accordance
with the provisions of the Labor Contract. The compensation for economic loss can be deducted from Party B’s salary. However,
if the deduction exceed 20% of the monthly salary, the consent of Party B shall be obtained.

 

Article
30 All Party A’s properties that kept, stored and managed by Party B during its tenure shall be kept intact. Otherwise,
Party B shall pay the full price for anything damaged. Upon resignation, such property shall be returned to Party A completely.

 

Article
31 Party B promises that the relevant information provided to Party A in the process of application or employment or work
are true and effective. If there is any change in such information, Party B shall notify Party A in time (within seven days from
the date of change). If Party B fails to notify Party A in time, it shall be deemed that Party B seriously violates rules and
regulations of Party A.

 

Article
32 Party B shall be aware of and rigorously abide by the confidentiality system formulated by Party. In case of any violation,
Party B shall be punished voluntarily.

 

VIII.
Confidentiality Clauses

 

Article
33 Party B shall be reliable to keep trade secrets of Party A, and the specific matters are as the following:

 

1.
Confidential Content and Scope: Trade secrets of Party A, Party A’s partners and customers.

 

The
scope of confidentiality includes but is not limited to the following contents: technical information, business information,
management information, intellectual property rights, remuneration system, and matters and the confidentiality obligations of
Party A to partners and customers in accordance with the provisions of the law or relevant agreements; All confidential information
shall be returned to Party A before leaving the Company, and the trade secrets that Party B knows shall be kept for three years
from the date of separation.

 

    	 

     

    

 

Article
34 Restrictions of Second Occupation:

 

Party
B shall not engage in a second occupation during his tenure at Party A. Without the written consent of Party A or the relevant
agreement with Party A, Party B shall not not be employed in or indirectly provide services by other enterprises that produce
or operate similar products or provide similar services with Party A. The restriction positions include, but are not limited to,
partners, directors, supervisors, shareholders, managers, employees, agents, consultants, etc.

 

Article
35 Effectiveness & Termination of Confidentiality Obligations:

 

Party
A shall pay Party B the confidentiality commission, which shall be included in remuneration; the Company will not pay the commercial
secrecy commission separately when the employee leaves the Company; the confidentiality obligation shall not be dissolved within
the three years since leaving the Company.

 

Article
36 Party B shall abide by the non-competition principle within two years upon the termination of the Labor Contract. The scope,
geographical, economic compensation and breach of contract obligations of the non-competition principles are as follows:

 

Party
B,in accordance with professional ethics, shall not contact Party A’s clients in any way after leaving the Company . Party
A has the right to impose legal liability and economic compensation to Party B for any loss incurred therefrom on Party A.

 

Article
37 Liability for Breach of Contract: Party B shall be compensated due to any loss incurred by its breach of contract on Party
A, partners or customers of Party A.

IX.
The Ownership of Intellectual Property Rights and Other Rights

 

Article
38 The intellectual property achievements such as patents and copyrights formed during the period of Party B’s employment
shall be vested in Party A. Party A shall according to the economic benefits give certain rewards to Party B for intellectual
property achievements.

 

    	 

     

    

 

Article
39 The intellectual property achievements incurred by the Party B’s fulfillment of tasks assigned by Party A or the
main use of the material and technical conditions of Party A shall be vested in Party A.

 

Article
40 If applicable laws and regulations stipulate that certain rights in intellectual property rights must be vested in Party
B and the parties in action are not allowed to agree otherwise on the vesting of rights, Party B agrees to implement the following
terms:

 

(1)
If laws and regulations permit all or part of these rights to be transferable, Party B agrees to transfer these rights to Party
A without compensation.

 

(2)
If Party B cannot transfer all or part of its rights to Party A in accordance with applicable laws and regulations, or if the
government approval necessary for such transfer is unable to obtain, Party B shall transfer right of unable-to-transfer to Party
A without permission. The permit of right hereof shall be irrevocable, exclusive (exclusive of Party B and all third parties),
worldwide and transferable, and Party A has the right to re-permit the use of such rights. Party A has unlimited right of use
for free and re-permitting right.

 

(3)
If certain rights cannot be transferred or permitted by Party B in accordance with Clause 1 and Clause 2 under related laws and
regulations, Party B agrees not to exercise such rights without written consent of Party A, including but not limited to the right
of authorship in the achievements and other rights.

 

X.
Changes of This Contract

 

Article
41 The contract may be changed upon the agreement of both parties. The change of the contract shall be in writing and the
revised contract kept by the both parties in one copy respectively.

 

    	 

     

    

 

XI.
Dissolution & Termination of the Contract

 

Article
42 The contract may be terminated upon the agreement of both parties.

 

Article
43 The termination of this Labor Contract shall be informed to Party A 30 days in advance; While in probation, Party B shall
notify Party A three days in advance.

 

Article
44 In case of any of the following situations, Party B shall notify Party A to dissolve the Labor Contract:

 

(1)
Party A fails to provide labor protection or labor conditions in accordance with the Labor Contract;

 

(2)
Party A fails to fully pay labor compensation in a timely manner;

 

(3)
Party A fails to pay social insurance premiums to Party B in accordance with law;

 

(4)
The rules and regulations of Party A violate the provisions of laws and regulations and damage the rights and interests of Party
B;

 

(5)
Party B was forced to conclude this Contract or change this Contract under the means of fraud or coercion of Party A or under
the situation where Party A was taken advantage of perilous state by Party A, which is against the real willing of Party B and
hence voided.

 

(6)
Party A exempts its statutory responsibilities and excludes rights of Party B, resulting in voiding this Labor Contract;

 

(7)
Party A violates the mandatory provisions of laws and administrative regulations, resulting in voiding this Labor Contract;

 

(8)
Other situations stipulated by laws and administrative regulations that Party B may terminate this Labor Contract.

 

Article
45 In case that Party A forces Party B to work by means of threats or illegal restrictions on personal freedom, or Party A
violates the rules and forces the risky operation to endanger the personal safety of Party B, Party B may immediately terminate
the Labor Contract without prior notice.

 

    	 

     

    

 

Article
46 In case of any of the following situations, Party A may dissolve the Labor Contract:

 

(1)
Party B is certified unqualified and incompetent for the position during the its probation.

 

(2)
Party B defrauds Party A of the position by providing fake and false certificates, ID information, diploma and CV for shaping
the competence.

 

(3)
Party B seriously violates rules and regulations of the Company;

 

(4)
Party B causes serious economic losses to the Company due to the dereliction of duty and playing favoritism and committing irregularities;

 

(5)
Party B disrupts order and normal business of Party A by sowing discords or forming personal-interests cliques in the Company.

 

(6)
Party B damages the image of the Company by defaming or disseminating rumors about the Company or employees outside the Company.

 

(7)
Party B engage in work unrelated to the Company during duty time or use the materials of the Company for the personal- interest
work.

 

(8)
Party B disclose the important trade secrets of the Company, causing economic losses to the Company;

 

(9)
Party B, upon the discovery and correction request from Party A, fails to correct and prevent the behaviors such as horrible work
attitude, neglect of his job, slowdown of work, habitual absenteeism, obstructing the work of others, etc..

 

(10)
Party B engaged in a part-time job out of the Company;

 

(11)
Party B is investigated by the judicial authorities for criminal responsibility.

 

Article
47 In case of any of the following situations, Party A may inform Party B 3o days in advance for dissolution of the Labor
Contract or dissolve the contract with paying an addition salary of one month:

 

(1)
Party B is unable to succeed in the original position or the new position arranged by Party A after its the stipulated treatment
period in hospital due to its sickness or injury unrelated to the work.

 

(2)
Party B is unable to succeed in the job even though after training or adjusting the position by Party A.

 

    	 

     

    

 

(3)
Significant change of the objective situation on which the Labor Contract was based happens, resulting in the inability to perform
the Labor Contract. And the both parties are unable to agree on the changed content of the contract after negotiation.

 

Article
48 In case of any of the following situations, when Party A needs to make personnel redundant more than 20 or make personnel
redundant less than 20 persons but the number of the personnel accounts for more than 10% of the total number of employees of
Party A, Party A shall notify the situation of trade union and the whole staff 30 days in advance and listen to the opinions of
the trade unions or employees, and then report the reduction plan to the labor administrative department so that the redundant
plan can be implemented:

 

(1)
Party A reorganize the Company in accordance with the provisions of the Enterprise Bankruptcy Law;

 

(2)
Party A faces serious difficulties in production and operation;

 

(3)
Party A needs to make personnel redundant even if after enterprise conversion, major technological innovation or adjustment of
business methods, change the Labor Contract;

 

(4)
Significant change of the objective situation on which the Labor Contract was based happens, resulting in the inability to perform
the Labor Contract.

 

Article
49 In case of any of the following situations, the Labor Contract shall be terminated:

 

1.
The Labor Contract reaches expiration;

 

2.
It is time for Party B to enjoy basic pension insurance benefits according to law;

 

3.
Party B dies or is declared dead or declared missing by the People’s Court;

 

4.
Party A is declared bankrupt according to law;

 

5.
Party A is revoked business license, ordered to close or withdraw or Party A decides to dissolve in advance;

 

6.
Other circumstances as stipulated by laws and administrative regulations.

 

    	 

     

    

 

Article
50 Upon the expiration of the Labor Contract, both parties shall inform each other in writing within 30 days since the expiration
of the Labor Contract if there is a request for renewal of this Labor Contract, and the Labor Contract may be renewed upon mutual
agreement.

 

XII.
Dissolution and Termination of the Contract

 

Article
51 Party B shall hand over the work as per the agreement of both parties If Party A and Party B decide to terminate this Labor
Contract. Party A shall issue the related written certificate to Party B according to law, and shall, within fifteen days, handle
the procedures for transferring the personal archives and social insurance relationship for Party B.

 

XIII.
Settlement of Dispute

 

Article
52 In case of a labor dispute between Party A and Party B, both parties shall settle it through consultation and negotiation
at the outset. Once the negotiation fails, both parties shall seek resolution from the unit trade union or apply for mediation
at the Labor Dispute Mediation Committee where the Party A is located; If there is no objection to the arbitration award, both
parties shall perform it; if there is any objection to arbitration award, there is no objection may bring a law suit in a People’s
Court.

 

XIV.
Liability for Breach of Contract

 

Article
53 In case of any violation of the contract and the economic loss incurred therefrom, the delinquent party shall be liable
for breach of contract and the corresponding amount of compensation shall be subject to related laws, regulations and the degree
of economic losses caused to the observant party.

 

Article
54 In case of the failure of Party B to perform the work handover obligation in accordance with the Article 51 of this
Labor Contract, the period required for the handover of the work and salary income of the last month before Party B terminates
the Labor Contract shall be the basis for calculation of the liquidated damages for Party A.

 

    	 

     

    

 

Article
55 During the term of this Labor Contract, the special agreements (such as Service Term Agreement, Confidentiality Agreement,
etc.) through unanimous negotiation are the appendixes to this Contract. For any conflicts or inconsistence between this Contract
and the special agreements, the latter shall prevail.

 

XV.
Miscellaneous Clauses

 

Article
56 Party A and Party B confirm the Current Residential Address provided by the parties in this Labor Contract for the valid
contact address of both parties (if Party B does not provide it, the address indicated on ID Card shall be used as the contact
address); If there is any changes, the change party shall promptly notify the other party; otherwise, the responsibility for being
unable to deliver things due to the change of address shall be borne by the change party.

 

Article
56 If Party A and Party B agree that the labor relationship between the two parties is terminated or canceled for any reason,
Party B shall take the initiative to undertake the handover work for Party A; otherwise, Party A has the right not to pay salary,
related compensation and other expenses, etc. to Party B; In case of the loss arising from handover work that is not handled in
time for Party A, Party B shall be responsibility for damages.

 

Article
57 When signing this agreement, Party A has already passed on the Company Management System of Party A to Party B for reading,
and Party B shall read it carefully and comply with it. In case of any conflict between Company Management System this Labor Contract,
the latter shall prevail (exclusive of the stipulated clauses in the Company Management System that shall be subject to Company
Management System of Party A). Party B agrees that Party A has right to revise the Company Management System of Party A in a timely
manner in accordance with the operation of the Company. The amendment may be made by Party A alone or by the engagement of employee
representatives of the Company. Party B shall abide by the revised rules and regulations, even if Party B didn’t participate
or recommend any representative of Party B.

 

Article
58 This Labor Contract shall be made in two copies with each Party holding one copy (Party B confirms that this Labor Contract
has been received), each copy has the same legal effect and shall come into force on the date when both parties signed and sealed.

 

    	 

     

    

 

Article
59 The items uncovered by this Labor Contract may be agreed separately as an appendix and shall be performed together with
this Labor Contract.

 

Article
60 Party B has all clearly understood the rules and regulations stipulated by Party A in or outside this Contract, and the
other rules and regulations formulated by Party A have the same legal effect as this Labor Contract.

 

Article
61 The right pf final interpretation of this Labor Contract shall be vested in Party A.

 

	Party
    A (seal):	Party
B: (signature):

	 	 
	Legal
Representative: Xia Changbin
	 
	 	 
	Date:	Date:

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00314-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00314-of-00352.parquet"}]]