Document:

Exhibit
10.2

 

Equity
Interest Transfer Agreement

 

This
Agreement was entered by and among the following parties on March 16, 2020 in Hong Kong:

 

Party
A: JIUJIU GROUP STOCK CO., LTD.

Authorized
Director: Donghui Deng

 

Party
B: ANGEL INTERNATIONAL INVESTMENT HOLDINGS LIMITED

Authorized
Director: Kin Lam

 

Party
C: VALLEY HOLDINGS LIMITED (referred to as “Target Company”)

Authorized
Director: Kin Lam

 

Party
D: FORTUNE VALLEY TREASURES, INC.

Authorized
Director: Yumin Lin

 

WHEREAS:

 

1.
Party A is a company incorporated and validly existing in Seychelles and a wholly-owned subsidiary of Party D.

 

2.
The Target Company is a business company registered in Hong Kong. As of the date of this Agreement, Target Company’s registered
capital is HK$1,000,000. Valley Foods Holdings (Guangzhou) Co., Ltd. is a limited company registered in China and is primarily
engaged in food wholesale and food additives businesses. The Target Company holds 88.4367% of its shares. Valley Foods Holdings
(Guangzhou) Co., Ltd. and its subsidiaries, Guangzhou Asia Pacific Food Technology Co., Ltd., Guangzhou Tianhui Trading Co., Ltd.,
Guangzhou China Food Internet of Things Service Co., Ltd., and Tianhui Food International Co., Ltd. are jointly referred to as
“subsidiaries of the Target Company.”

 

    	 	1	 

     

    

 

3.
As of the execution date of this Agreement, Party B is the original shareholder of Target Company and holds 70% of equity interest
of Target Company. The remaining 30% of the equity interest of Target Company is held by Xinyi Holdings Global Limited.

 

4.
Party B agrees to transfer 70% of the equity interest of Target Company it holds to Party A in accordance with the terms of this
Agreement, and Party A agrees to acquire such equity interest in accordance with the terms of this Agreement.

 

Regarding
to the acquisition of 70% of the equity interest of Target Company held by Party B, the parties agreed to the terms of the Agreement
as follows:

 

Article
1 Definition

 

1.1
Unless otherwise agreed in this Agreement, the following terms have the following meanings in this Agreement:

 

	Party
    A	 refers
    to	 Jiujiu
    Group Stock Co., Ltd. 
	Target
    Company	 refers
    to	Valley
        Holdings Limited, Including Its Subsidiaries

         

	Party
    B	 refers
    to	Angel
    International Investment Holdings Limited, the original shareholders which holds 70% of equity interest of Target Company
    on the execution date of this Agreement
	SEC
    	 refers
    to	the
    United States Securities and Exchange Commission.
	The
    Transaction	 refers
    to	Party
        A’s acquisition of 70% of equity interest in Target Company held by Party B

         

	Target
    Securities	 refers
    to	the
        70% equity interest of Target Company held by Party B.

         

	Consideration	 refers
    to	the
        general term for the transaction consideration paid by Party A to acquire the Target Securities held by Party B in accordance
        with Section 2.5 of this Agreement.

         

	Closing
    Date	 refers
    to	the
        day that all Target Securities is transferred to Party A , which is the day as agreed by all parties in accordance with
        Section 2.7 of this Agreement.

         

	Closing

         
	 refers
    to 	As
        stipulated in Section 2.7, the parties have fulfilled their respective obligations under Section 27.7 to complete the
        purchase and sale of the Target Securities, and the Target Securities have been completely transferred to Party A under
        Party A’s internal corporate record.

         

 

    	 	2	 

     

    

 

	Auditor	 refers
    to	the
        audit firm with relevant qualifications and engaged by Party A for the Transaction

         

	Transition
    Period	 refers
    to	the
        period from the execution date of this Agreement (including the date of execution) to the Closing (including the Closing
        Date).

         

	Profit
    Commitment Period	 refers
    to	From
        January 1, 2019 to December 31, 2019

         

	Net
    Profit	 refers
    to 	 

        the
        net profit attributable to Target Company and audited by the Auditor as assigned by Party A

         

	Burden
    of Rights	 refers
    to	any
        mortgage, pledge, lien, guarantee, burden of rights, property entrustment, priority, security interest, retention of title,
        beneficial right, trust arrangement, or other set, recognized and/or enforceable third party rights or claims of any nature
        in accordance with relevant laws.

         

	Business
    Day	 refers
    to	the
    normal business days of commercial banks in Hong Kong, except Saturday, Sunday and official holidays.
	Deadline	 refers
    to	 

        April
        30, 2020, or a later date and time agreed in writing by Party A and Party B

         

	Force
    majeure	 refers
    to	any
        affected party cannot reasonably control, do not expect or is unavoidable and cannot be overcome even if it can be expected,
        and it appears after the execution date of this Agreement, it makes it objectively impossible or impossible for the party
        to perform all or part of this Agreement. Such events include but not limited to, earthquakes, riots, wars, laws and regulations,
        and changes in the listing rules that are explicitly required by the SEC and announced to the public.

         

	Fiscal
    Year	 refers
    to	the
    year from January 1 to December 31.

 

1.2
In this Agreement, unless otherwise specified:

 

(1)
the laws, regulations or related provisions mentioned in this Agreement include future interpretations, amendments or supplements
to these laws, regulations or related provisions, and also include newly issued relevant laws replacing these laws, regulations
and related supporting or supplemental regulations;

 

(2)
“articles,” “sections” and “items” shall be the “articles,” “sections”
and “items” of this Agreement; and

 

(3)
the title of the provisions of this Agreement is only for reference, and does not affect the interpretation of this Agreement.

 

    	 	3	 

     

    

 

Article
2 This Transaction

 

2.1
Party B has agreed to transfer its 70% equity interest of Target Company to Party A in accordance with the terms and conditions
of this Agreement, and Party A has agreed acquire such equity interest in accordance with the terms and conditions of this Agreement
and with Target Company’s representations and warranties.

 

2.2
The parties have agreed that after the following conditions have been met on or before the Deadline (or partially or wholly waived
by Party A in writing), the parties shall complete the Closing in accordance with Section 2.7 of this Agreement.

 

2.2.1
According to Party A’s due diligence requirements, the information disclosed by Party B and Party C to Party A before the
Closing, which includes but not limited to the history of Target Company and its subsidiaries, all certificates, licenses, permits
and approval documents, financial information, customer information, claims and debts, arbitration and the litigation status,
Right of Burden on the equity and all information related to the equity interest of the Target Company are true, accurate and
complete. There are no concealment or misleading disclosures and statements and such information has been reviewed by Party A
and is to its satisfaction.

 

2.2.2
Party B and Party C guarantee that all representations and warranties under this Agreement are true, complete, accurate and not
misleading.

 

2.2.3
Completion of initial draft of 2019 audited consolidated annual report of Target Company.

 

2.2.4
Each of the management members of each subsidiary of Target Company shall enter into a non-competition agreement and a confidentiality
agreement in accordance with Section 3.3.

 

2.2.5
All trademarks, copyrights and other intellectual property rights related to Target Company and its subsidiaries’ business
operations will be transferred to Target Company before the completion of the Transaction.

 

2.3
Party A has the right to waive any of the conditions precedent listed in Section 2.2. To avoid discrepancies, apart from the above-mentioned
conditions, the parties to this Agreement shall not be entitled to waive any of the conditions in Section 2.2. If the conditions
listed in any of Section 2.2 are not fulfilled on or before the Deadline specified in this Agreement (or, if applicable, a written
exemption), Party A or Party B may give written notice to the other party to terminate its obligations under this Agreement, and
obtain immediate termination.

 

    	 	4	 

     

    

 

2.4
If at any time Party B or Party C is aware of the facts or circumstances that may prevent a certain condition from being fulfilled,
it shall immediately notify Party A in writing.

 

2.5
Consideration

 

2.5.1
Consideration and Valuation Basis

 

All
parties have agreed that the Party B shall transfer its 70% of the equity of Target Company to Party A. After the completion of
the Transaction, Party A will hold 70% of the equity interest of the Target Company.

 

2.5.2
All parties confirmed that the valuation of 70% of Target Company’s equity transfer is as follows:

 

(1)
Target Company and Party B have fully, truthfully and completely disclosed Target Company’s and its subsidiaries’
assets, liabilities, equity, external guarantees and all relevant information related to this Agreement to the Party A in writing.
The assets owned by Target Company and its subsidiaries do not have significant defects.

 

(2)
The Target Company and Party B warrant that Target Company and its subsidiaries will generate a Net Profit of no less than HK$5
million for the 2019 audited consolidated annual statement. In addition, when Mr. Kin Lam remains as the general manager and executive
director of the Target Company, Target Company warrants that in addition to the above-mentioned profit covenant, Target Company’s
Net Profit will increase no less than 10% every fiscal year compared to the prior year for the following five years after the
Profit Commitment Period.

 

On
the basis of the above-mentioned promised Net Profit, all parties agreed to calculate the valuation of 70% of the equity of Target
Company at US$ 14 million. If Target Company and its subsidiaries’ audited consolidated Net Profit for the 2019 is less
than HK$5 million, the parties will negotiate the Consideration separately.

 

2.6
Issuance of Shares

 

All
parties agree that, upon completion of the Closing for the Transaction, and within 30 Business Days after the issuance of the
2019 audit report of Target Company, Party D shall issue the shares of common stock to Party B. The number of the shares that
Party D shall issue to Party B or its designated party is calculated as follows.

 

(i)
The issuance price is the closing price of the stock one Business Day before the Closing Date.

 

(ii)
According to the above issuance price, the number of shares and the total equivalent value that Party D shall issue to Party B
as follows:

 

(a)
US$14 million, provided that the Net Profit from the 2019 annual audit report of Target Company and its subsidiaries is not less
than HK$5 million; or

 

(b)
another consideration that is agreed by parties, in the event that the Net Profit of the consolidated statements of Target Company
and its subsidiaries for the 2019 annual audit report is less than HK$ 5 million.

 

    	 	5	 

     

    

 

The
parties have agreed that the issuance of shares shall be performed in accordance with the agreed standards above, and Party D
and the Party B or its designated party shall enter into a subscription agreements. Party B is committed to cooperate with the
audit work of the Auditor appointed by Party A and Party D and provide all necessary and prompt assistance to Party D for consolidation
of Target Company’s financial statements and preparation of reports required by the SEC.

 

2.7
Closing

 

After
all the conditions listed in Section 2.2 have been fulfilled (or, if applicable, waived in writing), the parties shall conduct
the Closing within 30 Business Days before 5pm at Party A’s office, whose address is 13th floor, Building B1, Qiaoxiang
Road, Nanshan District, Shenzhen, Guangdong or at other time or place as agreed by the parties to complete the Closing. All of
the following matters shall be handled at the time of Closing:

 

2.7.1
Party B shall transfer or facilitate to transfer to Party A documents, including but not limited to the following:

 

(1)
A share transfer letter, duly signed by Party B, and sales documents and/or other relevant documents regarding the transfer of
Target Securities to Party A as the beneficiary and to give Party A legal ownership of the Target Securities as a registered shareholder
of the Target Securities;

 

(2)
Original stock certificate of the Target Securities;

 

(3)
A copy of the board resolutions for matters properly convened and approved
in the meeting of Target Company’s board of directors, with the signature from one of the directors to certify its validity,
the contents of which shall be to:

 

(i)
approve the transfer of the Target Securities to Party A and register the transfer; and

 

(ii)
(If requested by Party A) accept Target Company’s appointment of personnel nominated by Party
A as directors, and these appointments will take effect upon completion of the Closing.

 

    	 	6	 

     

    

 

Article
3 Corporate Governance and Non-Competition

 

3.1
After completion of the Transaction, Target Company will become Party A’s controlled subsidiary.

 

3.2
All parties agree that after the completion of the Transaction, the employment of Target Company and its subsidiaries will not
change (except for the corresponding adjustments made in accordance with the relevant provisions of laws and regulations and the
requirements of regulatory authorities).

 

3.3
In order to ensure the continuous and stable operation of Target Company and its subsidiaries, the management team members of
Target Company and its subsidiaries shall enter into employment agreements, pursuant to the requirement by Party A. The term of
the employment agreement shall include the rest of the current fiscal year after the Closing and three subsequent fiscal years.
Non-competition agreements need to be signed with the management team members before the
Closing. The aforementioned personnel, without prior written consent of Party A or Target Company, shall not use any means
(including but not limited to operating, investing, cooperating with, working part-time for themselves or others) during the term
of the employment agreement signed with Target Company and within 2 years from the date of termination of employment with Party
A or Target Company, this includes:

 

(i)
the aforementioned personnel shall not operate, engage in or use any means to assist the same, similar or competitive relationship
business (directly or indirectly) with Party A, Party D, Target Company and its subsidiaries in Hong Kong and China. They shall
not have business interest (except for holding 10% or less equity interests) in same, similar or competitive business or conduct
unfair related party transactions.

 

(ii)
solicit or induce personnel who have business dealings with Party A or Target Company within five years before the date of signing
the labor contract and/or during the term of the labor contract, instigate or work hard to make such persons to stop dealing with
Party A or Target Company;

 

(iii)
use or disclose to others the business secrets of Party A or Target Company
(including but not limited to customer information and intellectual property rights), so as to affect the interests of Party A
or Target Company, except the information required by law, the SEC or other regulatory agencies to disclose, and information that
has become publicly known not because such persons have breached the above commitments. When such personnel are required to disclose
relevant information by law, the SEC, or other regulatory agencies, they must notify Party A or Target Company before the disclosure
of the information, as long as permitted by relevant laws.

 

If
the aforementioned personnel violates the rules and regulations of Target Company, dereliction of duty or private malpractice
and damages the interests of Party A or Target Company, or meets the conditions for termination of the labor contract or termination
conditions of the labor contract stipulated by local laws and regulations, Target Company shall terminate the employment agreement
signed by such personnel and require the aforementioned personnel to compensate all losses suffered by Party A or the companies.

 

    	 	7	 

     

    

 

3.4
After the transfer of the Target Securities, Kin Lam will remain as the
executive director and general manager of Target Company. Party A will assign its professional financial personnel to guide Target
Company to cooperate with Party D for financial compliance work as a listed company.

 

Party
A and Party B will strive to ensure the stability of Target Company’s personnel and operations, and make the best use of
their respective advantages to help increase Target Company’s performance.

 

3.5
After the transfer of the Target Securities, the management of the Target Company will diligently perform its operational management
responsibilities, and submit the three-year plan and annual budget plan of Target Company to Party A within 90 days after signing
of this Agreement. In addition, they are to develop management performance appraisal plan according to the strategic plan and
annual targets.

 

Article
4 Closing and Profit Distribution

 

4.1
Within three years from the execution of this Agreement, Target Company shall not make any profit distribution. The profit will
be used for the future working capital.

 

4.2
The parties to this Agreement have agreed to make every effort to cooperate and take all measures (including but not limited to
signing or procuring a third party to sign any document, making an application and obtaining any relevant approvals, consents
or permits, or completing any relevant registration and filing procedures) to ensure that the Closing is in time, legal and valid.

 

Article
5 Party A’s Representations and Warranties

 

5.1
The representations and warranties made by Party A in this Article are true and accurate. Party B may rely on such representations
and warranties to enter into this Agreement.

 

5.2
Party A is a company legally established and validly existing in accordance with laws in Seychelles. It has full legal rights
to sign, perform and complete the Transaction described in this Agreement, and has obtained appropriate authorization to perform
all necessary actions

 

5.3
To perform this Agreement and complete the Transaction, Party A will not:

 

(1)
violate any provisions of Party A’s organizational documents;

 

(2)
violate the terms or provisions of any binding agreement or documents, of which Party A is a party;

 

(3)
violate any laws, regulations or regulatory documents applicable to Party A.

 

5.4
In order to successfully complete this Transaction, Party A shall provide active and sufficient cooperation and assistance in
matters that are necessary.

 

    	 	8	 

     

    

 

Article
6 Party B’s and Target Company’s Representations and Warranties

 

6.1
The representations and warranties made by Party B and Target Company in this Article are true and accurate. Party A may rely
on such representations and warranties to enter into this Agreement.

 

6.2
Party B and Target Company have full capacity for civil conduct, full legal rights to sign, perform and complete the Transaction
contemplated by this Agreement, and have obtained appropriate authorization to perform all necessary actions. Party
B and Target Company guarantee that they have all the rights and authorization to enter into this Agreement and perform their
obligations under this Agreement, and have obtained the approval from the relevant board meeting.

 

6.3
Party B and Target Company represent and warrant that the Target Company and its subsidiaries are validly established, existing
and authorized to conduct businesses and there is no material adverse event that will interfere or adversely affect their operations.
Up until the date of the Closing, there is no outstanding, unfulfilled or foreseeable compensation, fines, penalty, judgement,
or decision or penalty due to the misconduct of Target Company and its subsidiaries.

 

6.4
Party B and Target Company represent and warrant that the Target Company
and its subsidiaries have not entered into or made any agreement or arrangement to dispose of any of its important assets or place
any equity burden on it.

 

6.5
Party B represents and warrants that the equity to be transferred to Party
A is the true capital contribution of Party B in Target Company, its legally owned equity, and it has full disposal rights, and
there are no other interest arrangements such as holding shares on behalf of others. Party B represents and warrants that there
is no mortgages, pledges or guarantees on the transferred equity, and indemnity from any recourse by any third party. Party B
and Target Company represent and warrant that the Transaction to Party A has obtained the consent of other shareholders of Target
Company.

 

6.6
To perform this Agreement and complete the Transaction contemplated by this Agreement, neither Party B nor Target Company will:

 

(1)
violate the terms or regulations of any binding agreement or document of which it is a party; or

 

(2)
violate any laws, regulations or regulatory are applicable to that party.

 

6.7
Prior to the closing, Party B legally holds the Target Securities, and there is no pledge, judicial freeze or other restrictions
on the transfer of the Target Securities. Party B has the right to transfer the equity interest to Party A.

 

    	 	9	 

     

    

 

6.8
The information or materials provided by Party B and Target Company to Party A for the Transaction are true, accurate and complete.

 

6.9
Party A and Target Company represent and warrant that they have authorization and qualifications necessary for the operations,
and complied with relevant laws and regulations in all aspects of operations. There is no violation of any relevant Chinese and
Hong Kong laws and regulations that may materially and adversely affect the Transaction. There is no outstanding, unfulfilled
or foreseeable major investigation, judgement, decision or penalty. Except as otherwise provided for in this Agreement, any damage,
compensation, fines and compensation due to any misconduct of Target Company and its subsidiaries before the Closing (including
but not limited to violations of laws in the fields of tax, industry and commerce, product quality, environmental protection,
intellectual property rights, social insurance, housing fund, intellectual property rights and so on) shall be borne by Party
B.

 

6.10
Except for the liabilities reflected in the financial statements provided by Party B and Target Company to Party A, Target Company
and its subsidiaries do not have any other liabilities (including existing liabilities and contingent liabilities arising from
Target Company and its subsidiaries providing guarantees, mortgages, pledges or other forms of guarantees). If Target Company
and its subsidiaries have other liabilities not disclosed by Party B or any fines, penalties, compensations, taxes payable and
other liabilities assumed by Target Company and its subsidiaries due to facts or reasons that occurred or existed before the closing
date, Party B shall be responsible.

 

6.11
Party B warrants that Party B and other enterprises under its control will not engage in businesses that will compete with Party
A, Party D, Target Company and its subsidiaries. If Party B and its affiliates involve in the main business of Target Company
and its subsidiaries, they should transfer the business and relevant rights and interests to Target Company and its subsidiaries
as required by Party A. The companies competing in the industry, Guangzhou
Huiren Food Co., Ltd., Guangzhou Weien Trading Co., Ltd., and Guangzhou Anjia Catering Co., Ltd., will merge their business into
Target Company within 30 days from the completion of the Closing.

 

6.12
Party B and Target Company warrant that the Target Securities will be transferred to Party A within the agreed time. Party B and
Target Company shall provide active and full cooperation and assistance in the transfer

 

6.13
Party B represents and warrants that the 30% shareholder of the Target
Company, Xinyi Holdings Global Limited, does not have piggy-back rights and has no objection to the Transaction.

 

Article
7 Taxes and Fees

 

7.1
Regardless of whether the Transaction is completed or not, all costs and expenses incurred by the parties due to the transaction
(including consultant fees paid to intermediaries such as financial consultants and counsels) shall be paid by their own.

 

7.2
Regarding stamp duty payable on the purchase and sale of the Target Securities will be borne by Party
B.

 

    	 	10	 

     

    

 

Article
8 Confidentiality 

 

8.1
The parties agree that the following information or documents shall be kept in strict confidence by the parties from the date
of execution of this Agreement to the date when the Transaction is disclosed in accordance with the law after the execution of
legal procedures.

 

(1)
All the information related to this Agreement, including but not limited to the transaction plan, commercial conditions (intent),
negotiation process and content, and the information that the parties to the Transaction have learned before and during the process
to enter into this Agreement;

 

(2)
All documents and materials in this Agreement, including but not limited to any documents, materials, data, contracts, financial
reports and so on.

 

(3)
Other information and documents that will lead to market rumors, stock price fluctuations and other abnormal conditions once leaked
or disclosed.

 

8.2
Without the prior written consent of the other parties to this Agreement, neither party shall disclose the above information and
documents to third parties. The parties to the Transaction shall take necessary actions to limit the disclosure of the above information
and documents to only those involved in the Transaction, and require such persons to strictly abide by the provisions of this
Article.

 

8.3
The following shall not be deemed as disclosure or disclosure of information and documents:

 

(1)
the information and documents disclosed were known to the public before disclosure;

 

(2)
disclosure pursuant to a mandatory requirement of law, regulation or normative document, or a decision, order or requirement of
a competent government agency (such as the SEC), or a judgment, order or award of a court or arbitration institution;

 

(3)
for the purpose of entering into and performing this Agreement, the disclosure to each intermediary agency before and/or after
hiring each intermediary agency (including independent financial consultants, auditors, assessors and counsels).

 

Article
9 Force Majeure

 

9.1
If any party to this Agreement is unable to perform this Agreement due to any occurrence of force majeure after the signing of
this Agreement, the party affected by force majeure shall notify the other party within ten Business Days from the date on which
the force majeure occurs, and such notice shall specify the occurrence of the force majeure and declare the event as force majeure.
At the same time, the party affected by the force majeure shall try its best to take measures to reduce the losses caused by the
force majeure and protect the legitimate rights and interests of the other party. Force majeure refers to unforeseeable, unavoidable
and insurmountable objective circumstances when the Agreement is entered into.

 

    	 	11	 

     

    

 

9.2
In the event of force majeure, the parties to the Transaction shall discuss to determine whether this Agreement will continue
to be performed, postponed or terminated. After the elimination of force majeure, if this Agreement can still be performed, the
parties shall still be obliged to take reasonable and feasible actions to perform this Agreement. The party affected by force
majeure shall send a notice of the elimination of force majeure to the other party as soon as possible, and the other party shall
confirm upon receipt of the notice.

 

9.3
In the event of force majeure that renders this Agreement unenforceable, this Agreement will terminate and the party suffering
from force majeure shall not be liable for the foregoing termination of this Agreement. If the performance of this Agreement is
partially unable or delayed due to force majeure, the party affected by the force majeure shall not be liable for any breach of
this Agreement.

 

Article
10 Breach of Contract

 

10.1
After this Agreement takes effect, if Party A fails to pay the consideration within the agreed period in accordance with Section
2.6, it shall pay a liquidated damages to Party B at the rate of 0.05% per day of the unpaid amount.

 

10.2
After this Agreement takes effect, if the registration of the Transaction does not complete within the required period due to
Party B’s fault, Party B shall bear the liquidated damages at the rate of 0.05% per day of the Consideration that Party
A has paid to the Party B.

 

10.3
Unless otherwise provided for in the terms of this Agreement, if either party breaches its obligations under this Agreement or
the representations and warranties made herein, the other party shall have the right to require it to perform the corresponding
obligations or/and take necessary measures to ensure that it complies with the representations or warranties made herein. In case
of any loss caused to Party B due to Party A’s violation of obligations hereunder or its representations and warranties,
Party A shall indemnify Party B for all losses (including reasonable expenses incurred by Party B to avoid losses). In case of
any loss caused to Party A due to any breach of obligations hereunder or any representations or warranties made by either party,
the breaching party shall indemnify the other party for all losses caused to Party A (including reasonable expenses incurred by
Party A to avoid losses).

 

10.4
For the purpose of this Agreement, the parties to this Agreement further declare that if the performance of this Agreement is
delayed or impossible due to acts of approval or permission of regulatory authorities, competent authorities or relevant government
departments, or changes in laws and policies, the inability to performance shall not be regarded as a breach of the contract by
the party, and the parties shall negotiate and facilitate the continued performance of the transaction in a reasonable and legal
manner.

 

    	 	12	 

     

    

 

10.5
Under this Agreement, Party B shall be jointly and severally liable for the profit compensation obligations and breach of contract
obligations of Party A, Party D and the other parties; Party A and Party D shall bear joint and several liability to Party B and
Part C for any of their responsibilities/obligations under this Agreement.

 

Article
11 Applicable Laws and Dispute Resolution

 

11.1
The interpretation and performance of this Agreement shall be governed by and construed in accordance with the laws of Hong Kong.

 

11.2
Any disputes arising out of or in connection with this Agreement shall first be resolved through friendly negotiation. If it cannot
be settled through negotiation, either party has the right to submit the dispute to the Hong Kong International Arbitration Center
for arbitration or Hong Kong court for adjudication.

 

11.3
Except for the terms of the dispute, the validity of other terms of this Agreement will not be affected during the settlement
of the dispute.

 

Article
12 Effectiveness

 

This
Agreement shall come into force upon being signed and sealed by the authorized representatives of each party.

 

Article
13 Miscellaneous

 

13.1
The termination or invalidity of certain or partial provisions hereof in accordance with the law or in accordance with the provisions
hereof shall not affect the validity of other provisions hereof.

 

13.2
This Agreement constitutes the entire agreement of the parties to the Transaction on matters related to this Agreement and replaces
any agreement, statement, memorandum, correspondence or any other document made prior to this Agreement.

 

13.3
Except as otherwise agreed herein, no party in this Agreement may in any way assign all or part of its rights, rights, responsibilities,
or obligations under this Agreement without the prior written consent of the other parties.

 

13.4
Unless otherwise provided by laws and regulations or a party expressly waives its rights, if any party fails to exercise or delays
the exercise of any of its rights under this Agreement, it does not constitute a waiver of those rights by that party.

 

13.5
This Agreement has five originals copies, two for Party A and one for each party. Each original copy shall have the same legal
effect.

 

    	 	13	 

     

    

 

13.6
Party B hereby irrevocably designates Mr. Chan Tak Hung (Address Room 801, 8th Floor,
Assun Pacific Centre, 41 Tsun Yip Street, Kwun Tong, Kowloon, Hong Kong) as its agent (the “Document Receiving Agent”)
on its behalf in Hong Kong to receive and confirm the service of any writ, subpoena, order, judgment or other notice of legal
process (collectively referred to as “Legal Notice”). If document is sent to the receiving agent or by registered
mail to the above or known latest address 2 Business Days after posting, or if there is a mailbox at the above or known latest
address, a writ and/or any other relevant documents are inserted into the mailbox (whether it is delivered to Party B or received
by Party B), such delivery shall be deemed as complete. If for any reason the document receiving agent cannot continue to act
as the agent for Party B, Party B shall appoint another agent in Hong Kong for the same purpose, and notify the other parties
of this appointment. Unless the notification on the appointment of a new agent is deemed to have been received by the other parties
in this Agreement, any legal notice if properly delivered to the document receiving agent, shall be deemed to have been properly
delivered to Party B in accordance with the law.

 

13.7
Each party hereby declares and confirms that before signing this Agreement, all parties have sufficient
opportunity and time to hire a legal counsel and have sufficient opportunity to discuss and review the contents of this Agreement
with their respective counsels. The parties further state and confirm that they had sufficient time to review the contents of
this Agreement and have voluntarily entered into this Agreement.

 

(Signature
Page Follows)

 

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(This
page is the signature page of the Equity Interest Transfer Agreement.)

 

Party
A:JIUJIU GROUP STOCK CO., LTD.

Authorized
Director: /s/ Donghui Deng

 

Party
B: ANGEL INTERNATIONAL INVESTMENT HOLDINGS LIMITED

Authorized
Director: /s/ Kin Lam

 

Party
C: VALLEY HOLDINGS LIMITED

Authorized
Director: /s/ Kin Lam

 

Party
D: FORTUNE VALLEY TREASURES, INC.

Authorized
Director: /s/ Yumin Lin

 

    	 	15exhibit101

                      CROSSFIRST BANKSHARES, INC.                            ANNUAL INCENTIVE PLAN                     Amended and Restated as of February 26, 2020                                     PURPOSE        This Annual Incentive Plan is established effective as of October 25, 2018 as the  CrossFirst Bankshares, Inc. Annual Incentive Plan (the "Plan").  The purposes of the Plan are to:  (a) enable CrossFirst Bankshares, Inc., a Kanas corporation, and its subsidiary bank, to attract  and retain highly-qualified employees of outstanding character, competence, commitment and  connection who will contribute to the success of CrossFirst Bankshares, Inc. and its subsidiary  bank; (b) provide incentives that align the interests of key executives with those of CrossFirst  Bankshares, Inc.'s shareholders, and (c) promote the success of CrossFirst Bankshares, Inc.'s  business objectives.                                   ARTICLE 1                                  DEFINITIONS        For purposes of this Plan, unless otherwise clearly apparent from the context, the  following terms or phrases, have the following meanings:         "Bank" means CrossFirst Bank, a Kansas state-charted bank.         "Affiliate" means any corporation or other entity controlled by the Company.         "Award Agreement" means a written agreement or electronic, contract, certificate or        other instrument or document evidencing the terms and conditions of an individual Bonus        Award granted under the Plan which may, in the discretion of the Company, be        transmitted electronically to any Participant. Each Award Agreement shall be subject to        the terms and conditions of the Plan.          "Base Annual Salary" means mean the annual cash compensation paid during any        calendar year, excluding any equity awards, bonuses, overtime, fringe benefits, relocation        expenses, incentive payments, non-monetary awards, directors fees and other fees,       automobile and other allowances paid to a Participant for employment services rendered       (whether or not such allowances are included in the Employee's gross income). Base       Annual Salary shall be calculated before reduction for compensation voluntarily deferred       or contributed by the Participant pursuant to all qualified or non-qualified plans of an       Employer and shall be calculated to include amounts not otherwise included in the       Participant's gross income under Code Sections 125, 402(e)(3), 402(h), or 403(b)       pursuant to plans established by any Employer; provided, however, that all such amounts       will be included in compensation only to the extent that, had there been no such plan, the       amount would have been payable in cash to the Employee.        "Board" means the Board of Directors of the Company, as constituted at any time. 

 

      "Bonus Award" means an incentive award payable in either cash or in equity interests to        be granted as Bonus Shares under the Equity Plan, the payment of which is contingent on        the achievement of Performance Goals with respect to a Performance Period.         "Bonus Share" has the meaning provided in the Equity Plan.         "Change in Control" unless otherwise ascribed in an Award Agreement, change in        control has the meaning provided in the Equity Plan.                 "Code" means the U.S. Internal Revenue Code of 1986, as it may be amended from time        to time. Any reference to a section of the Code shall be deemed to include a reference to        any regulations promulgated thereunder.                "Committee" means the Compensation Committee or such other committee established        by the Board to oversee and interpret the compensation of senior executive officers of the       Company.              "Company" means CrossFirst Bankshares, Inc. a Kansas corporation, and any successor       thereto by merger, consolidation, liquidation, or other reorganization, which has made       provisions for adoption of this Plan and the assumption of the Company's obligation's       thereunder, as well as any subsidiary of which, fifty-one percent (51%) or more of the       outstanding shares or membership units are owned by CrossFirst Bankshares, Inc.               "Disability" or "Disabled" means a Participant’s physical or mental impairment falling       within the definition of “disability” as such term or any comparable term is defined in       any disability insurance policy covering Participant at the time of such disability.          "Employee" means any person who is employed, on a full-time basis by an Employer,       who is compensated for such employment by a regular salary, and who, in the opinion of       the Committee, is one of the key personnel of the Employer in a position to contribute       materially to the Company’s continued growth and development and to its future       financial success. Employee may also include any person who will be a prospective       employee that will meet the above criteria. The term does not include persons who are       retained by the Company as consultants only.        "Employer" means the Company, the Bank, and/or any of its affiliates (now in existence       or hereafter formed or acquired) that have been designated by the Committee to       participate in the Plan.        "Equity Plan" means the CrossFirst Bankshares, Inc. 2018 Omnibus Equity Incentive       Plan and any successor equity incentive plan.        "Fair Market Value" unless otherwise ascribed in an Award Agreement, fair market value       has the meaning provided in the Equity Plan.        "Participant" means, as to any Performance Period, an Employee who is designated by       the Committee pursuant to Section 3.2 to participate in the Plan.   2                                        13369900.6   

 

      "Performance Criteria" means the criterion or criteria that the Committee shall select for        purposes of establishing the Performance Goal(s) for a Performance Period with respect       to any Bonus Award under the Plan. The Performance Criteria that will be used to       establish the Performance Goal(s) shall be based on the attainment of specific levels of       performance of the Company (or division, business unit or operational unit of the       Company).  The Performance Criteria selected by the Committee may be based on any       metric, or any combination of metrics, selected by the Committee, including, but not       limited to, the following:           (a)   earnings per share (this could include basic, diluted, or core);         (b)   return on average assets;         (c)   return on average equity;         (d)   total shareholder return;         (e)   asset quality;         (f)   net income;         (g)   pre-tax income;         (h)   efficiency ratio;         (i)   asset growth;         (j)   loan growth;         (k)   deposit growth;         (l)   core deposit growth;         (m)   net interest margin (including tax-equivalent);         (n)   achievement of business criteria or operational goals, consisting of one or more         objectives based on meeting specified revenue, market share, market penetration,         business development, geographic business expansion goals, objectively identified         project milestones, production volume levels, cost targets, customer satisfaction, and         goals relating to acquisitions, divestitures or joint ventures; and/or         (o)   accomplishment of mergers, acquisitions, dispositions, public offerings, or         similar extraordinary business transactions.              Any one or more of the Performance Criteria may be used on an absolute or        relative basis to measure the performance of the Company as a whole or any division,        business unit or operational unit of the Company or any combination thereof, as the        Committee may deem appropriate, or as compared to the performance of a group of        comparable companies, or published or special index that the Committee, in its sole        discretion, deems appropriate.          "Performance Formula" means, for a Performance Period, the objective formulas applied        to determine with regard to the Bonus Award of a Participant, the percentage of the        Target Award the Participant will receive when performance levels exceed the Threshold  3  13369900.6 

 

      Performance Goal but do not reach the Stretch Performance Goal.  The Committee may        us a straightline interpolation of the Company's performance between the Threshold        Performance Goal and the Stretch Performance Goal to determine the amount of the        Bonus Award to which a Participant is entitled.         "Performance Goals" means, for a Performance Period, the one or more goals established        by the Committee for the Performance Period based upon one or more Performance        Criteria. Performance Goals may include a threshold level of performance below which        no Bonus Award will be paid and levels of performance at which specified percentages of        the Target Award will be paid and may also include a maximum level of performance        above which no additional Bonus Award amount will be paid.         "Performance Period" means the period over which the attainment of one or more        Performance Goals will be measured for the purpose of determining a Participant's right        to and the payment of a Bonus Award. Each Performance Period will have a duration of        at least one year but may have a longer duration, as determined by the Committee. Unless        otherwise determined by the Committee, a new Performance Period will commence on        January 1 of each year.           "Plan" means this CrossFirst Bankshares, Inc. Annual Incentive Plan, as amended and/or        amended and restated from time to time.         "Retirement" means an Employee’s severance from the Company or an Affiliate, in good        standing, upon or after attainment of the age of 65 with no less than five (5) years of        participation in the Plan and employment with the Company. The Board may grant        exceptions to these qualifications, on a case-by-case basis.        "Share" means a share of CrossFirst Bankshares, Inc. or its successor.        "Stretch Award" means a Bonus Award equal to a percentage, determined by the       Committee in its sole discretion, of the Target Award payable under the Plan to a       Participant for a particular Performance Period if the Stretch Performance Goal for the       Performance Period is achieved.        "Stretch Performance Goal" means, for a Performance Period, the goal established by the       Committee for the Performance Period based on one or more Performance Criteria,       achievement of which will entitle a Participant to a Stretch Award for the applicable        Performance Period         "Target Award" means the target Bonus Award, determined by the Committee in its sole        discretion, payable under the Plan to a Participant for a particular Performance Period if        the Target Performance Goal is achieved for the Performance Period, expressed as either        a dollar amount or a percentage of the Participant's Base Salary.         "Target Performance Goal" means, for a Performance Period, the goal established by the        Committee for the Performance Period based on one or more Performance Criteria,        achievement of which will entitle a Participant to a Target Award for the applicable        Performance Period.  4  13369900.6 

 

      "Threshold Award" means a Bonus Award equal to a percentage, determined by the        Committee in its sole discretion, of the Target Award payable under the Plan to a        Participant for a particular Performance Period if the Threshold Performance Goal for the        Performance Period is achieved.        "Threshold Performance Goal" means, for a Performance Period, the goal established by       the Committee for the Performance Period based on one or more Performance Criteria,       achievement of which will entitle a Participant to a Threshold Award for the applicable       Performance Period.                                    ARTICLE 2                               ADMINISTRATION   2.1   Administration by the Committee.  The Plan shall be administered by the Committee.  Subject to the terms of the Plan, the Committee, in its sole discretion, shall have the authority:         (a)    to construe and interpret the Plan and apply its provisions;        (b)         to promulgate, amend, and rescind rules and regulations relating to the       administration of the Plan;        (c)     to authorize any person to execute, on behalf of the Company, any instrument       required to carry out the purposes of the Plan;        (d)    to determine when Bonus Awards are to be granted under the Plan;        (e)    from time to time to select, subject to the limitations set forth in the Plan, those       Participants to whom Bonus Awards shall be granted;        (f)     to prescribe the terms and conditions of each Bonus Award and to specify the       provisions of the Award Agreement relating to such grant;        (g)    to establish the Performance Periods over which performance will be measured;        (h)    to select the Performance Criteria that will be used to establish the Performance      Goals;       (i)      to make decisions with respect to outstanding Bonus Awards that may become      necessary upon a Change in Control;        (j)      to interpret, administer, reconcile any inconsistency in, correct any defect in       and/or supply any omission in the Plan and any instrument or agreement relating to, or       Bonus Award granted under, the Plan; and        (k)        to exercise discretion to make any and all other determinations which it      determines to be necessary or advisable for the administration of the Plan.   5  13369900.6 

 

2.2   Committee Decisions Final.  All decisions made by the Committee pursuant to the  provisions of the Plan shall be final and binding on the Company and the Participants, unless  such decisions are determined by a court having jurisdiction to be arbitrary and capricious.   2.3   Delegation.  The Committee, in its sole discretion, may delegate all or part of its  authority and powers under the Plan to one or more directors and/or officers of the Company;  provided, however, that the Committee may not delegate its responsibility to grant Bonus  Awards to executive officers or to certify the achievement of the Performance Goals.   2.4   Indemnity of Committee.  All Employers shall indemnify and hold harmless the  members of the Committee, and any Employee to whom the duties of the Committee may be  delegated, against any and all claims, losses, damages, expenses or liabilities arising from any  action or failure to act with respect to this Plan, except in the case of willful misconduct by the  Committee or any of its members or any such Employee.   2.5   Employer Information.  To enable the Committee to perform its functions, each  Employer shall supply full and timely information to the Committee on all matters relating to the  compensation of its Participants, the date and circumstances of the Retirement, Disability, death  or Separation from Service of its Participants, and such other pertinent information as the  Committee may reasonably require.                                    ARTICLE 3                    SELECTION, ENROLLMENT, ELIGIBILITY   3.1   Eligibility for Bonus Award.  The Committee will, in its sole discretion, designate  which Participants will be eligible to receive Bonus Awards with respect to such Performance  Period. However, designation of a Participant as eligible to receive a Bonus Award hereunder for  a Performance Period shall not in any manner entitle the Participant to receive payment of any  Bonus Award for such Performance Period. The determination as to whether or not such  Participant becomes entitled to payment of any Bonus Award shall be decided solely in  accordance with the provisions of Article 7 of the Plan. Moreover, designation of a Participant as  eligible to receive a Bonus Award hereunder for a particular Performance Period shall not  require designation of such Participant as eligible to receive a Bonus Award hereunder in any  subsequent Performance Period and designation of one person as a Participant eligible to receive  a Bonus Award hereunder shall not require designation of any other person as a Participant  eligible to receive a Bonus Award hereunder in such period or in any other period.                                     ARTICLE 4                 THRESHOLD, TARGET, AND STRETCH AWARDS   4.1   Target Awards.  Before, or reasonably promptly following the commencement of, each  Performance Period, the Committee, in its sole discretion, shall establish the Target Award for  each Participant for such Performance Period. A Participant's Target Award may be expressed as  a dollar amount or a percentage of the Participant's Base Annual Salary.  The payment of a  Target Award to a Participant shall be conditioned on the achievement of the Target Performance  Goal for the applicable Performance Period.     6  13369900.6 

 

 4.2   Threshold and Stretch Awards.  Before, or reasonably promptly following the  commencement of each Performance Period, the Committee, in its sole discretion, may establish  Threshold Awards and Stretch Awards for each Participant for such Performance Period. The  Stretch Award represents the maximum percentage of the Target Award that may be paid to a  Participant for a Performance Period based on performance above target levels. The Threshold  Award represents the minimum percentage of the Target Award that may be paid to a Participant  for a Performance Period based on performance below target performance levels. A Participant  will not receive a Bonus Award with respect to a Performance Period if performance is below the  Threshold Performance Goal.                                     ARTICLE 5                              PERFORMANCE GOALS    5.1   Establishment of Performance Goals. Before, or reasonably promptly following the   commencement of, each Performance Period the Committee, in its sole discretion shall establish   the Performance Goal(s) and Performance Formula that shall apply for the Performance Period   and shall record the same in writing.    5.2   Adjustments.  The Committee is authorized, in its sole discretion, to adjust or modify the   calculation of a Performance Goal for a Performance Period in connection with any one or more   of the following events:            (a) asset write-downs;           (b) litigation or claim judgments or settlements;           (c) the effect of changes in tax laws, accounting principles, or other laws or regulatory          rules affecting reported results;           (d) any reorganization and restructuring programs;           (e) extraordinary, unusual or infrequently occurring items as described in          management's discussion and analysis of financial condition and results of operations          appearing in the Company's annual report to shareholders for the applicable year;           (f) acquisitions or divestitures;           (g) any other specific unusual or nonrecurring events, or objectively determinable          category thereof;           (h) foreign exchange gains and losses;           (i) a change in the Company's fiscal year; and           (j) any other event identified by the Committee in its sole discretion.   7   13369900.6 

 

                                    ARTICLE 6              CERTIFICATION OF PERFORMANCE GOAL ACHIEVEMENT    6.1   Certification by Committee.  Following the completion of a Performance Period, the   Committee shall review and certify in writing whether, and to what extent, the Performance   Goals for the Performance Period have been achieved and, if so, calculate and certify in writing   the amount of the Bonus Awards earned for the Performance Period based upon the Performance   Formula. The Committee shall then determine the actual size of each Participant's Bonus Award   for the Performance Period.                                        ARTICLE 7                            PAYMENT OF BONUS AWARDS  7.1   Employment Requirement.  Except as otherwise provided in Article 9 of the Plan or in  the applicable Award Agreement, a Participant must be employed by the Company or an  Affiliate on the last day of a Performance Period to be eligible for payment with respect to a  Bonus Award for such Performance Period.     7.2    Achievement  of  Performance  Goal  Requirement.  Achievement  of  Performance  Goal Requirement. A Participant shall be eligible to receive payment with respect to a Bonus  Award only to the extent that: (A) the Performance Goal(s) for such period are achieved; and (B)  the Performance Formula as applied against such Performance Goals determines that all or some  portion  of  such  Participant’s  Bonus  Award  has  been  earned  for  the  Performance  Period.   Notwithstanding  any  of  the  foregoing  in  Section  7.1  or  this  Section  7.2,  the  Committee  may  agree to pay one or more Participants a minimum bonus amount or guaranteed bonus amount  under the Plan for the Performance Period which contains such Participant's start date, regardless  of  the  actual  level  of  performance  achieved  during  the  applicable  performance  period,  in  accordance with the terms of any agreement memorializing such minimum or guaranteed bonus.       7.3    Timing  of  Bonus  Award  Payments.   Bonus  Awards  granted  for  a  Performance  Period shall  be  paid  to  Participants  as  soon  as  administratively  practicable  following  completion of the certifications required by Article 6 but in no event later than 2 1/2 months  following the end of the calendar year during which the Performance Period is completed.   7.4   Form of Bonus Award Payments.  Bonus Awards may be paid in cash, or, in the sole  discretion of the Committee, Shares.  If the Committee elects to make a Bonus Award payable in  Shares, the number of Shares to which the Participant may be entitled upon achieved of  the applicable Performance Goals for the applicable Performance Period will be determined  by  dividing  the  dollar  amount  of  the  Participant's  Threshold  Award,  Target  Award,  and  Stretch Award, by the Fair Market Value of a Share as of the date of the grant of the Bonus  Award.  Any Shares paid to a Participant as a Bonus Award shall be issued as Bonus Shares  under the Equity Plan.   7.5   Repayment. Any Bonus Award granted under this Plan, any cash or Bonus Shares  received in connection with the payment of a Bonus Award, and any proceeds received from the  disposition of Bonus Shares attributable to any Bonus Award, shall be subject to any clawback,  recoupment,  or  forfeiture  provision  included  in  any  law,  agreement  between  the  Participant  and the  Company,  Company  policy,  employment  agreement,  program  document,  term  sheet,  benefit plan or program, or Committee resolution, action, policy, or procedure in place on the  grant  date of  the  Bonus  Award,  provided,  however,  to  the  extent  required  by  law  (e.g.,  Dodd-Frank)  or securities  exchange  listing  standard,  a  Company  clawback  policy  may  apply  retroactively.   8  13369900.6 

 

                                  ARTICLE 8                        EFFECT OF A CHANGE IN CONTROL    8.1   Effect of Change in Control.  If a Change in Control occurs during a Performance   Period, each Participant will receive his or her Target Award, without regard to actual   performance and without proration for less than the full Performance Period.  Bonus Awards   paid in connection with a Change in Control will be paid within 60 days following the Change in   Control.                                     ARTICLE 9                  EFFECT OF A TERMINATION OF EMPLOYMENT    9.1   Termination of Employment Due to Death or Disability.  If a Participant's   employment terminates during a Performance Period due to death or Disability, the Participant   (or his or her estate in the event of death) will receive a Bonus Award equal to the Target Award   for the applicable Performance Period. Payment of the Bonus Award for a deceased or Disabled   Participant will occur no later than 2 1⁄2 months after the end of the year in which the Participant   dies or becomes Disabled.  The Committee retains the discretion to pay a Bonus Award to the   Participant (or his or her estate in event of death) greater than the Target Award for the   applicable Performance Period.    9.2   Termination of Employment Due to Retirement.  If a Participant's employment   terminates during a Performance Period due to Retirement, the Participant will receive a prorated   Bonus Award at the end of the Performance Period, based upon the portion of the Performance   Period during which the Participant was employed with the Company or an Affiliate.  The actual   payout will not occur until the end of the Performance Period, at which the time the performance   for the entire Performance Period will be used to determine the amount of the Bonus Award   before proration by multiplying the Bonus Award by a fraction, the numerator of which equal the   number of days that elapsed since the beginning of the Performance Period through and   including the date of the Participant's Retirement and the denominator of which equals the total   number of days in the Performance Period.    9.3   Other Terminations of Employment.  If a Participant's employment terminates during a   Performance Period for any reason other than death, Disability or Retirement, the Participant will   forfeit all rights to any Bonus Award under the Plan.                                     ARTICLE 10                              GENERAL PROVISIONS    10.1          Compliance with Legal Requirements.  The Plan and the granting of Bonus Awards  shall be subject to all applicable federal and state laws, rules and regulations, and to such  approvals by any regulatory or governmental agency as may be required.    10.2          Non-transferability.  A person's rights and interests under the Plan, including any   Bonus Award previously made to such person or any amounts payable under the Plan, may not   be assigned, pledged, or transferred, except in the event of the Participant's death, to a designated    9   13369900.6 

 

beneficiary in accordance with the Plan, or in the absence of such designation, by will or the  laws of descent or distribution.    10.3          No Right to Employment.  Nothing in the Plan or any Award Agreement shall confer  upon any person the right to continue in the employment of the Company or any Affiliate or  affect the right of the Company or any Affiliate to terminate the employment of any Participant.    10.4          No Right to Bonus Award.  Unless otherwise expressly set forth in an employment  agreement signed by the Company and a Participant, a Participant shall not have any right to any  Bonus Award under the Plan until such Bonus Award has been paid to such Participant and  participation in the Plan in one Performance Period does not connote any right to become a  Participant in the Plan in any future Performance Period.    10.5          Withholding.  The Company shall have the right to withhold from any Bonus Award,  any federal, state or local income and/or payroll taxes required by law to be withheld and to take  such other action as the Committee may deem advisable to enable the Company and Participants  to satisfy obligations for the payment of withholding taxes and other tax obligations relating to a  Bonus Award.    10.6          Amendment or Termination of the Plan.  The Board or the Committee may, at any  time, amend, suspend or terminate the Plan in whole or in part. Notwithstanding the foregoing,  no amendment shall materially, adversely affect the rights of any Participant to Bonus Awards  outstanding at the time of such amendment, suspension or termination, without the consent of the  affected Participant.    10.7          Unfunded Status.  Nothing contained in the Plan, and no action taken pursuant to its  provisions, shall create or be construed to create a trust of any kind or a fiduciary relationship  between the Company and any Participant, beneficiary or legal representative or any other  person. To the extent that a person acquires a right to receive payments under the Plan, such right  shall be no greater than the right of an unsecured general creditor of the Company. All payments  to be made hereunder shall be paid from the general funds of the Company and no special or  separate fund shall be established and no segregation of assets shall be made to assure payment  of such amounts except as expressly set forth in the Plan. The Plan is not intended to be subject  to the Employee Retirement Income Security Act of 1974, as amended (ERISA).    10.8          Governing Law.  The Plan shall be construed, administered and enforced in accordance  with the laws of Kansas without regard to conflicts of law.    10.9          Beneficiaries.  To the extent that the Committee permits beneficiary designations, any  payment of Bonus Awards due under the Plan to a deceased Participant shall be paid to the  beneficiary duly designated by the Participant in accordance with the Company's practices. If no  such beneficiary has been designated or survives the Participant, payment shall be made by will  or the laws of descent or distribution.    10.10      Section 409A of the Code.  It is intended that payments under the Plan qualify as short- term deferrals exempt from the requirements of Section 409A of the Code. In the event that any  Bonus Award does not qualify for treatment as an exempt short-term deferral, it is intended that   10  13369900.6 

 

such amount will be paid in a manner that satisfies the requirements of Section 409A of the  Code. The Plan shall be interpreted and construed accordingly.    10.11      Expenses.  All costs and expenses in connection with the administration of the Plan shall  be paid by the Company.    10.12      Section Headings.  The headings of the Plan have been inserted for convenience of  reference only and in the event of any conflict, the text of the Plan, rather than such headings,  shall control.    10.13      Severability.  In the event that any provision of the Plan shall be considered illegal or  invalid for any reason, such illegality or invalidity shall not affect the remaining provisions of the  Plan, but shall be fully severable, and the Plan shall be construed and enforced as if such illegal  or invalid provision had never been contained therein.    10.14      Gender and Number.  Except where otherwise indicated by the context, wherever used,  the masculine pronoun includes the feminine pronoun; the plural shall include the singular, and  the singular shall include the plural.    10.15      Non-exclusive.  Nothing in the Plan shall limit the authority of the Company, the Board  or the Committee to adopt such other compensation arrangements as it may deem desirable for  any Participant.    10.16      Notice.  Any notice to be given to the Company or the Committee pursuant to the  provisions of the Plan shall be in writing and directed to the Company at;         CrossFirst Bankshares, Inc. Annual Incentive Plan        ATTN: General Counsel & Corporate Secretary        11440 Tomahawk Creek Pkwy        Leawood, Kansas 66211   10.17      Successors.  All obligations of the Company under the Plan with respect to Bonus  Awards granted hereunder shall be binding upon any successor to the Company, whether the  existence of such successor is the result of a direct or indirect purchase, merger, consolidation or  otherwise, of all or substantially all of the assets of the Company.     11  13369900.6

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