Document:

Exhibit 10.13

 

Machinery and Equipment Lease Agreement

 

Agreement No.: JTDLD2017090101

 

Party A: Guizhou Jietongda Technology
Co., Ltd. (hereinafter referred to as “Lessor”)

 

Party B: Guizhou United Time Technology
Co., Ltd. (hereinafter referred to as “Lessee”)

 

According to the Agreement
Law of the People’s Republic of China and relevant regulations, in order to clarify the rights and obligations of both parties
for equipment rental fees, both parties conclude this Agreement through negotiation so as to jointly abide by it:

 

Article 1 Name, Model, Quantity and Rent
of Equipment

 

	Name	Specification/Model	Quantity	Quarterly Rent (RMB)
	Assembly line	See Annex	6	85,283.39
	Packaging line	See Annex	4	56,855.59
	Total	 	10	142,138.98

 

Article 2 The lease term is 5 years
from September 1, 2017 to August 31, 2022. If the Lessee needs to continue renting the equipment upon the expiration
of the Agreement, both parties shall sign a new Agreement or go through the renewed lease formalities within 15 days before the
expiration of the Agreement, otherwise the Lessor has the right to otherwise arrange the equipment.

 

Article 3 Lease Method and Ownership

 

3.1 Lease Method: The
Lessee shall arrange operation personnel for the leased equipment. The Lessee shall be responsible for the operation and maintenance
of the equipment.

 

3.2 Ownership of the
Leased Equipment: The ownership of the leased equipment listed in the Annex to the Agreement belongs to the Lessor. The Lessee
shall only be entitled to use the leased machinery during the lease term and it does not have the ownership of the equipment.

 

3.3 Without the consent
of the Lessor, the Lessee shall not add or reduce parts to the equipment at will, nor shall it mortgage the equipment for any reason,
otherwise it shall bear all consequences arising therefrom.

 

Article 4 Charging Time of Rental Price
and Signing and Recognition of Rent

 

4.1 Rental Price The
specific rents are listed in the following table:

 

	
        2017.09.01-2018.

        08.31 
	
        2018.09.01-2019. 

        08.31
	
        2019.09.01-2020.

        08.31 
	
        2020.09.01-2021. 

        08.31
	
        2021.09.01-2022.

        08.31 

	568,555.92	568,555.92	568,555.92	568,555.92	568,555.92

 

4.2 Starting and ending
time of lease charging: from September 1, 2017 to August 31, 2022, 5 years in total.

 

4.2.1 During the lease
term of the machinery, the shutdown period of machinery due to the Lessee’s reasons or natural reasons shall also be calculated
as usual according to the calendar days. If the Lessee fails to prepay the rent in advance within the time limit stipulated in
the Agreement and the machinery is shut down, the charging time for machinery lease shall also be calculated as usual according
to the calendar days.

 

     

     

    

 

4.2.2 For surrender
of lease of the machinery, the Lessee must send a written notice to the Lessor, and the date of surrender of lease approved by
the Lessor after receiving the written notice shall the ending time of the charging.

 

Article 5 Payment Methods of Rent and Deposit

 

5.1 The rent shall be
paid quarterly, and the Lessee shall pay it before the 15th day of the month following each quarter. The Lessee shall pay a late
fee of 5% for overdue payment.

 

5.2 The deposit for
the equipment is RMB 3 million (Three Million Yuan Only), which shall be paid by the Lessee within one month from the date of signing
the Agreement.

 

Article 6 Obligations
and Responsibilities of Both Parties

 

6.1 Obligations and
Liabilities of the Lessor

 

6.1.1 Cooperate closely
with the construction and production of the Lessee to meet the construction requirements of the Lessee. Obey the construction arrangement
of the Lessee’s construction personnel, but have the right to refuse the Lessee’s illegal command.

 

6.1.2 Arrange the equipment
operation and maintenance personnel, and be responsible for equipment operation, daily maintenance and fault treatment to ensure
that the equipment is in good mechanical and technical conditions. If a single continuous shutdown lasts for more than three days
due to a failure, no shift fee will be charged for the days exceeded.

 

6.1.3 Pay the wages
of operation personnel and keep equipment maintenance accessories

 

6.1.4 Jointly handle
the signing and recognition of rental of the mechanical equipment with the Lessee.

 

6.2 Obligations and
Liabilities of the Lessee

 

6.2.1 Be responsible
for the safety of the leased machinery and the operating driver during the working period. Do not command in violation of regulations.
If the command in violation of regulations causes machinery and personnel damage, the Lessee shall bear all responsibilities and
losses.

 

6.2.2 Provide free accommodation
for the operating driver of the Lessor. Pay the driver’s overtime pay and construction subsidies.

 

6.2.3 Be responsible
for signing and recognizing the entrance of the leased equipment and the monthly rent, and paying the rent timely.

 

6.2.4 Be responsible
for protection and guarding of the equipment during the lease term to ensure the safety of the generator.

 

6.2.5 Provide qualified
fuel oil and engine oil. Provided with substandard fuel, the driver has the right not to refuel; the shutdown loss caused shall
be borne by the Lessee.

 

6.2.6 During the lease
term, if the Lessor purchases spare parts and materials, the Lessee shall provide convenience in transportation, and the required
funds shall be credited in the Lessee and deducted from the rent.

 

6.2.7 Be responsible
for the entrance and release fees of leased machinery, transportation safety, transportation fee and insurance premium.

 

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Article 7 Damage and Loss of Leased Machinery

 

7.1 The Lessee shall
bear the risk of damage (except for normal wear and tear) and loss of the leased machinery incurred by the Lessee during the lease
term. If the Agreement cannot be performed or losses are caused due to Force Majeure, both parties shall settle the matter through
negotiation based on the actual situation.

 

7.2 In case of any damage
or loss of the leased machinery, the Lessee shall immediately notify the Lessor. The Lessor has the right to choose one of the
following methods, and the Lessee shall be responsible for handling and bearing all its expenses.

 

7.2.1 Restore or repair
the leased machinery to a fully serviceable state.

 

7.2.2 Replace the damaged
components or accessories with those of the same model and performance so that the leased machinery can be used normally.

 

7.2.3 When the damage
or loss of the leased machinery is severe to the extent that it cannot be repaired, the Lessee shall compensate the Lessor according
to the loss compensation amount stipulated in the Annex to the Agreement.

 

Article 8 Liability for Breach of Agreement

 

8.1 When the Lessee
delays to pay the equipment entrance fee or delays to prepay the machinery rent, the Lessor’s equipment will be delayed to enter
the site and will be shut down.

 

8.2 Without the written
consent of the other party, either party shall not change or terminate the Agreement halfway. If either party violates the Agreement,
it shall pay the other party 10% of the total rent of the Agreement as penalties.

 

8.3 If the Lessee fails
to pay the rent on schedule or violates any clause of this Agreement, the Lessor has the right to take the following measures:

 

8.3.1 Require the Lessee
to pay the rent and other expenses in time and to compensate the Lessor for the losses.

 

8.3.2 Terminate this
Agreement, recover the leased equipment and require the Lessee to compensate the Lessor for all losses.

 

Article 9 Annexes to this Agreement

 

The Annexes to this
Agreement are integral parts of this Agreement and have the same legal effect as the main text herein. The Annexes to this Agreement
includes the Annex to the Lease Agreement, the receipt for the shipment and arrival of the leased machinery, the rent for the machinery
signed and recognized by both parties, and the supplementary provisions made by both parties through negotiation.

 

Article 10 Dispute Settlement

 

In case of any dispute
arising from this Agreement, both parties shall settle it through negotiation in a timely manner. If negotiation fails, either
party may request the competent business authority to mediate or bring a lawsuit to the people’s court.

 

Article 11 This Agreement shall come into
effect after being signed and sealed. The Agreement shall be made in quadruplicate with each party holding two copies.

 

	
        Lessor (Seal)

        

        Seal: Guizhou Jietongda Technology Co., Ltd. (Seal Affixed)

        

        Jifang Yu (Seal Affixed)

        Person in Charge (Signature)

        September 1, 2017
	 	
        Lessee (Seal)

        Guizhou United Time Technology Co., Ltd. (Seal Affixed)

        Minfei Bao (Seal Affixed)

        Person in Charge (Signature)

        September 1, 2017

 

 

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Annex 1:

 

Agreement No.: JTDLD2017090101 List of Leased
Agreementual Equipment for Assembly Line

 

	Device Name	Specification/Model	Unit	Quantity
	Assembly line	32m	Set	6
	Packaging line	28m	Line	4
	ESD stool	460MM	Set	450
	Mobile clean shed	2400*1200*1950MM	Set	7
	Soldering iron	Crack 203H	Set	72
	Electric screw driver (including power supply)	HIOS CL-3000	Set	24
	Screwing machine	JCH-TS630-SDD	Set	12
	Glue dispenser 	E331H	Set	4
	Automatic thermal shrinkage machine	KLW-5545A	Set	1
	Shelf	2000*60*2000	Set	126
	Material rack	550*500*600	Set	192
	QA inspection bench	2000*120*1850	Set	29
	Printer 600DPI	Zebra 110SI4	Set	12

 

 

4Exhibit 10.14

 

UTIME LIMITED

7th Floor, Building 5A

Shenzhen Software Industry Base, Nanshan District

Shenzhen, People’s Republic of China 518061

 

 

[         ]

 

[Director Name]

[Address]

 

Re:        Director
Offer Letter

 

Dear __________:

 

UTime Limited, a Cayman Islands exempted
company (the “Company”), is pleased to offer you a position as a member of its Board of Directors (the “Board”).  We
believe your background and experience will be a significant asset to the Company and we look forward to your participation on
the Board. Should you choose to accept this position as a member of the Board, this letter agreement (the “Agreement”)
shall constitute an agreement between you and the Company and contains all the terms and conditions relating to the services you
agree to provide the Company.

 

1.           Term.  This
Agreement is effective as of the effectiveness date of the Registration Statement on Form F-1 (File No. 333-[●]) (the “Effective
Date”). Your term as director shall continue subject to the provisions in Section 9 below or until your death, incapacity,
resignation or removal.  Your term of office as a member of the Board shall be up for re-election each year at the Company’s
annual shareholder’s meeting and upon re-election, the terms and provisions of this Agreement shall remain in full force
and effect. Notwithstanding the foregoing, this Agreement may be terminated at any time in accordance with Section 9 hereto.

 

2.           Services.  You
shall render services as a member of the Board and such committees of the Board as the Board may designate, subject to your agreement
to serve on such committees (hereinafter, your “Duties”). During the term of this Agreement, you shall attend
and participate in such number of meetings of the Board and of the committees of which you may become a member (if any) as regularly
or specially called. You may attend and participate at each such meeting, via teleconference or in person. You shall consult with
the other members of the Board and committee (if any) regularly and as necessary via telephone, electronic mail or other forms
of correspondence.

 

3.           Services
for Others.  You shall be free to represent or perform services for other persons during the term of this Agreement.  However,
you agree that you do not presently perform and do not intend to perform, during the term of this Agreement, similar duties, consulting
or other services for companies whose businesses are or would be, in any way, competitive with the Company (except for companies
previously disclosed by you to the Company in writing).  Should you propose to perform similar duties, consulting or
other services for any such company, you agree to notify the Company in writing in advance (specifying the name of the organization
for whom you propose to perform such services) and to provide information to the Company sufficient to allow it to determine if
the performance of such services would conflict with areas of interest to the Company.

 

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4.           Compensation.  

 

4.1.        Cash.
Commencing on the Effective Date, and upon each anniversary thereof that you remain a director, you shall receive cash compensation
of $[●] for each calendar year of service under this Agreement on a pro-rated basis which shall be paid on a quarterly basis
in arrears.  Notwithstanding the foregoing to the contrary, all fees are subject to approval and/or change as deemed appropriate
by the Board.  Should you serve as the chairman of any Board committee, you will be entitled to additional cash compensation
to the extent approved by the Board or a designated committee thereof.

 

4.2         Equity
Awards. You shall also be entitled to receive annual equity awards under the Company’s equity incentive plans from
time to time as determined by the Board or a designated committee thereof.

 

4.3         Reimbursement
of Reasonable Expenses. You shall also be reimbursed for reasonable, pre-approved expenses incurred by you in connection
with the performance of your Duties (including travel and lodging expenses for in-person meetings).

 

5.           D&O
Insurance Policy. During the term under this Agreement, the Company shall use its commercially reasonable efforts to purchase
an officers and directors insurance policy and include you as an insured thereunder.

 

6.           No
Assignment.  Because of the personal nature of the services to be rendered by you, this Agreement may not be
assigned by you without the prior written consent of the Company.

 

7.           Confidential
Information; Non-Disclosure.  In consideration of your access to certain Confidential Information (as defined
below) of the Company in connection with your service as a member of the Board, you hereby agree as follows:

 

a.           Definition.  For
purposes of this Agreement the term “Confidential Information” means: (i) any information which the Company
possesses that has been created, discovered or developed by or for the Company, and which has or could have commercial value or
utility in the business in which the Company is engaged; and (ii) any information which is related to the business of the Company
and is generally not known by non-Company personnel. Confidential Information includes, without limitation, trade secrets and any
information concerning financial or accounting matters, products, product concepts, processes, designs, inventions (whether or
not patentable or registrable under copyright or similar laws, and whether or not reduced to practice), discoveries, ideas, improvements,
techniques, methods, research, development and test results, specifications, data, know-how, software, formats, marketing plans
and analyses, business plans and analyses, strategies, forecasts, customer and supplier identities, characteristics and agreements.

 

b.           Exclusions.  Notwithstanding
the foregoing, the term Confidential Information shall not include: (i) any information which becomes generally available to the
public other than as a result of a breach of the confidentiality portions of this Agreement, or any other agreement requiring confidentiality
between the Company and you; and (ii)  information you are required to disclose pursuant to any applicable law, regulation,
judicial or administrative order or decree, or request by other regulatory organization having authority pursuant to the law; provided,
however, that you shall first have given prior written notice to the Company and made a reasonable effort to obtain a protective
order requiring that the Confidential Information not be disclosed.

 

    	 	2	 

     

    

 

c.           Documents.
You agree that, without the express written consent of the Company, you will not remove from the Company's premises or retain following
the termination of this Agreement or your service to the Company any notes, formulas, programs, data, records, machines or any
other documents or items which in any manner contain or constitute Confidential Information, nor will you make reproductions or
copies of same.   You shall promptly return any such documents or items, along with any reproductions or copies to the
Company upon the Company's demand, upon termination of this Agreement, or upon your termination or Resignation (as defined in Section
9 herein).

 

d.           Confidentiality.  You
agree that you will at all times hold in trust and confidence all Confidential Information and will not disclose to others, directly
or indirectly, any Confidential Information or anything relating to such information without the prior written consent of the Company,
except as may be necessary to perform your duties to the Company as a member of the Board.  You further agree that you
will not use any Confidential Information without the prior written consent of the Company, except as may be necessary to perform
your duties to the Company as a member of the Board. Notwithstanding the foregoing, you may disclose Confidential Information to
your legal counsel for the purpose of rendering personal legal advice to you and to your accounting advisors who have a need to
know such information for accounting or tax purposes and who agree to be bound by the provisions of this paragraph (d).

 

e.           Ownership.  You
agree that Company shall own all right, title and interest (including patent rights, copyrights, trade secret rights, mask work
rights, trademark rights, and all other intellectual and industrial property rights of any sort throughout the world) relating
to any and all inventions (whether or not patentable), works of authorship, mask works, designations, designs, know-how, ideas
and information made or conceived or reduced to practice, in whole or in part, by you during the term of this Agreement and that
arise out of your Duties (collectively, “Inventions”), and you will promptly disclose and provide all Inventions
to the Company. You agree to assist the Company, at its expense, to further evidence, record and perfect such assignments, and
to perfect, obtain, maintain, enforce, and defend any rights assigned.

 

f.           Survival.
You agree that the provisions of this Section 7 shall survive and remain in full force and effect upon and following any termination
or purported termination of this Agreement or from and after the time you cease performing services to the Company.

 

8.            Non-Solicitation.  
During the term of your service to the Company and for a period of one (1) year thereafter, you shall not directly solicit for
employment any officer, employee or consultant of the Company with whom you have had contact due to your service. You agree that
the provisions of this Section 8 shall survive and remain in full force and effect upon and following any termination or purported
termination of this Agreement or from and after the time you cease performing services to the Company.

 

9.            Termination
and Resignation.  Your membership on the Board (which for purposes of this Agreement shall automatically mean
any committee of the Board) may be terminated and you may be removed from the Board for any or no reason by a vote of the shareholders
holding at least a majority of the Company’s issued and outstanding common stock entitled to vote. You may also terminate
your membership on the Board for any or no reason by delivering your written notice of resignation to the Company (“Resignation”),
and such Resignation shall be effective upon the time specified therein or, if no time is specified, upon receipt of the notice
of resignation by the Company. Upon the effective date of any of the termination of your Board service or your Resignation, your
right to compensation hereunder will terminate subject to the Company's obligations to pay you any compensation that you have already
earned and to reimburse you for approved expenses already incurred in connection with your performance of your Duties as of the
effective date of such termination or Resignation.

 

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10.           Governing
Law; Venue; Waiver of Jury Trial.  All questions with respect to the construction and/or enforcement of this
Agreement, and the rights and obligations of the parties hereunder, shall be determined in accordance with the law of the State
of New York applicable to agreements made and to be performed entirely in the State of New York. The parties hereby irrevocably
submit to the exclusive jurisdiction of the state and federal courts sitting in New York County, New York, for the adjudication
of any dispute hereunder or in connection herewith, and hereby irrevocably waive, and agree not to assert in any suit, action or
proceeding, any claim that they are is not personally subject to the jurisdiction of any such court, that such suit, action or
proceeding is brought in an inconvenient forum or that the venue of such suit, action or proceeding is improper. THE PARTIES
HEREBY IRREVOCABLY WAIVE ANY RIGHT EITHER MAY HAVE TO, AND AGREE NOT TO REQUEST, A JURY TRIAL FOR THE ADJUDICATION OF ANY DISPUTE
HEREUNDER OR IN CONNECTION WITH OR ARISING OUT OF THIS AGREEMENT OR ANY TRANSACTION CONTEMPLATED HEREBY.

 

11.           Entire
Agreement; Amendment; Waiver; Counterparts.  This Agreement expresses the entire understanding with respect to
the subject matter hereof and supersedes and terminates any prior oral or written agreements with respect to the subject matter
hereof.  Any term of this Agreement may be amended and observance of any term of this Agreement may be waived only with
the written consent of the parties hereto.  Waiver of any term or condition of this Agreement by any party shall not
be construed as a waiver of any subsequent breach or failure of the same term or condition or waiver of any other term or condition
of this Agreement.  The failure of any party at any time to require performance by any other party of any provision of
this Agreement shall not affect the right of any such party to require future performance of such provision or any other provision
of this Agreement.  This Agreement may be executed in separate counterparts each of which will be an original and all
of which taken together will constitute one and the same agreement, and may be executed using facsimiles of signatures, and a facsimile
of a signature shall be deemed to be the same, and equally enforceable, as an original of such signature. Delivery of such counterparts
by facsimile or email/.pdf transmission shall constitute validity delivery thereof.

 

12.           Indemnification.  The
Company shall, to the maximum extent provided under applicable law on the terms set forth in the Company’s memorandum and
articles of association (as amended from time to time), indemnify and hold you harmless from and against any expenses, including
reasonable attorney’s fees, judgments, fines, settlements and other legally permissible amounts (“Losses”),
incurred in connection with any proceeding arising out of, or related to, your performance of your Duties.  

 

13.           Not
an Employment Agreement This Agreement is not an employment agreement, and shall not be construed or interpreted to create
any right for you to be employed by the Company or have any rights of an employee of the Company.

 

14.           Acknowledgement.  
You accept this Agreement subject to all the terms and provisions of this Agreement. You agree to accept as binding, conclusive,
and final all decisions or interpretations of the Board of any questions arising under this Agreement.

 

 

[Signature Page Follows]

 

    	 	4	 

     

    

 

Thank you for your agreement to serve on
our Board, and we look forward to working with you. If you are in agreement with the foregoing, please sign by your name below
and return a copy to me, which signature shall signify your agreement.

 

	 	 	Sincerely,
	 	 	 	 	 
	 	 	UTIME LIMITED
	 	 	 	 	 
	 	 	 	 	 
	 	 	By:	           	 	 
	 	 	 	Name:	Minfei Bao
	 	 	 	Title:	Chief Executive Officer
	 	 	 	 	 
	AGREED AND ACCEPTED:	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	[Director Name]	 	 	 	 

 

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