Document:

Exhibit
10.8

 

按期申报协议

Timely Reporting Agreement

 

本按期申报协议(下称“本协议”)由下列各方于2018年【11】月【19】日在中华人民共和国
(下称“中国”)
【长沙】签订:

This Timely Reporting
Agreement (this “Agreement”) has been executed by and among the following parties on November
19, 2018 in [Changsha], the People’s Republic of China (“China” or the “PRC”):

 

甲方
: 茗韵堂 (上海)
茶叶有限公司

.,
一家依照美国法律设立和存在的公司地址为[上海市浦东新区川沙路1098号8幢];

Party
A:Shanghai Ming Yun Tang Tea Limited. 
, an enterprise, organized and existing under the laws of the United States of America, with its registered address at [No.1098,
building 8, Chuansha Road, Pudong New District, Shanghai, China];

 

乙方: 湖南茗韵堂品牌管理有限责任公司, 一家依照中国法律设立和存在的有限责任公司, 地址为长沙市雨花区喜盈门商业广场第1、2栋25010号

Party B:Hunan
Ming Yun Tang Brand Management Co., Ltd., a limited liability company organized and existing under the laws of
the PRC, with its address at No.25010, building 1-2,
Xi Ying Men business Square, Yuhua Disctrict, Changsha City.

 

鉴于:

Whereas:

 

乙方知晓甲方股票登记在美国证券交易所
(“SEC”),
其必须向SEC申报各种综合其运营的报告。乙方了解如果甲方未能按期申报报告将对甲方导致重大的损害。

Party B is aware that
Party A’s securities are registered with the US Securities Exchange Commission (“SEC”) and that it must file
various reports with the SEC that consolidate Party A with its own operations. Party B acknowledges that Party A’s failure
to file timely reports may result in material damages for Party A.

 

双方特此商定按照以下条款签订本协议。

The Parties hereby have mutually
agreed to execute this Agreement upon the following terms.

 

乙方同意其有义务使甲方接触到其高管及董事人员,
并且及时提供甲方需要的全部信息使得甲方可以按要求向SEC申报所有必要的和规定的报告。

Party B agrees that
it is obligated to make its officers and directors available to Party A and promptly provide all information required by Party
A so that Party A can file all necessary SEC and other regulatory reports as required.

 

本页其余部分刻意留为空白

The Remainder
of this page is intentionally left blank

 

     

     

    

  

有鉴于此,
各方已使得经其授权的代表于文首所述日期签署了本协议并即生效,
以昭信守。

IN WITNESS WHEREOF,
the Parties have caused their authorized representatives to execute this Agreement as of the date first above written.

 

甲方: 茗韵堂
(上海) 茶叶有限公司

Party A: Shanghai
Ming Yun Tang Tea Limited.

签字:

	By:	/s/ Peng
    Fang	 

 

乙方: 湖南茗韵堂品牌管理有限责任公司

Party B:Hunan
Ming Yun Tang Brand Management Co., Ltd.

	By:	/s/ Jiang JunExhibit 10.9

 

授权委托书

Power of Attorney

 

本人彭芳, 系拥有湖南茗韵堂品牌管理有限责任公司 (“公司”) 100%的股权 (“本公司股权”) 的股东, 就本公司股权, 特此不可撤销地授权茗韵堂 (上海) 茶叶有限公司(“WFOE”) 在本授权委托书的有效期内行使如下权利: 

Peng Fang is a holder of 100%
of the entire registered capital in Hunan Ming Yun Tang Brand Management Co., Ltd.
(the "Company") ("My Shareholding"), hereby irrevocably authorize Shanghai
Ming Yun Tang Tea Limited. ("WFOE") to exercise the following rights relating to My Shareholding during the
term of this Power of Attorney:

 

授权WFOE作为本人唯一的排他的代理人就有关本公司股权的事宜全权代表本人行使包括但不限于如下的权利: 1)
参加公司的股东会; 2)
行使按照法律和公司章程规定本人所享有的全部股东权和股东表决权,
包括但不限于出售或转让或质押或处置本公司股权的全部或任何一部分;
以及3)
作为本人的授权代表指定和任命公司的法定代表人、执行董事、监事、总经理以及其他高级管理人员等。

WFOE is hereby authorized
to act on behalf of myself as my exclusive agent and attorney with respect to all matters concerning My Shareholding, including
without limitation to: 1) attend shareholders' meetings of Company; 2) exercise all the shareholder's rights and shareholder's
voting rights I am entitled to under the laws of China and Company’s Articles of Association, including but not limited to
the sale or transfer or pledge or disposition of My Shareholding in part or in whole; and 3) designate and appoint on behalf of
myself the legal representative, the executive director, supervisor, the chief executive officer and other senior management members
of Company.

 

WFOE将有权在授权范围内代表本人签署独家购买权合同
(本人应要求作为合同方)
中约定的转让合同,
如期履行本人作为合同一方的与本授权委托书同日签署的股权质押合同和独家购买权合同,
该权利的行使将不对本授权形成任何限制。

Without limiting the
generality of the powers granted hereunder, WFOE shall have the power and authority under this Power of Attorney to execute the
Transfer Contracts stipulated in Exclusive Option Agreement, to which I am required to be a party, on behalf of myself, and to
effect the terms of the Share Pledge Agreement and Exclusive Option Agreement, both dated the date hereof, to which I am a party.

 

WFOE就本公司股权的一切行为均视为本人的行为, 签署的一切文件均视为本人签署, 本人会予以承认。

All the actions
associated with My Shareholding conducted by WFOE shall be deemed as my own actions, and all the documents related to My Shareholding
executed by WFOE shall be deemed to be executed by me. I hereby acknowledge and ratify those actions and/or documents by WFOE.

 

     

     

    

 

WFOE有转委托权, 可以就上述事项的办理自行再委托其他人或单位而不必事先通知本人或获得本人的同意。

WFOE is entitled to
re-authorize or assign its rights related to the aforesaid matters to any other person or entity at its own discretion and without
giving prior notice to me or obtaining my consent.

 

在本人为公司的股东期间, 本授权委托书不可撤销并持续有效, 自授权委托书签署之日起算。

This Power of Attorney
is coupled with an interest and shall be irrevocable and continuously valid from the date of execution of this Power of Attorney,
so long as I am a shareholder of Company.

 

本授权委托书期间, 本人特此放弃已经通过本授权委托书授权给WFOE的与本公司股权有关的所有权利, 不再自行行使该等权利。

During the term of this
Power of Attorney, I hereby waive all the rights associated with My Shareholding, which have been authorized to WFOE through this
Power of Attorney, and shall not exercise such rights by myself.

 

本授权委托书以中文和英文书就, 中英文版本如有冲突, 应以中文版为准。

This Power of Attorney
is written in Chinese and English; in case there is any conflict between the Chinese version and the English version, the Chinese
version shall prevail.

 

	 	彭芳
	 	签署: 
	 	By:	/s/ Peng Fang
	 	 
	 	2018年 11  月 19  日
	 	November 19, 2018

 

	见证人	 
	Witness:	 	 
	 	 	 

 

姓名: 

Name: /s/ Ling Huang

 

2018年
11 月 19 日

November 19, 2018FOURTH
AMENDED AND RESTATED PROMISSORY NOTE

 

	 	$6,000,000	November
    20, 2018	 

 

WHEREAS,
the Maker (as defined below) previously executed that certain Promissory Note dated May 9, 2014, in the principal amount of Twelve
Million Five Hundred Thousand Dollars ($12,500,00) for the benefit of the Payee (as defined below) (the “Initial Note”),
which was modified and renewed by that certain Second Amended and Restated Promissory Note dated September 28, 2015 in the principal
amount of Ten Million Dollars ($10,000,000) for the benefit of Payee and which was further modified and renewed by that certain
Third Amended and Restated Promissory Note dated August 10, 2016 in the principal amount of Nine Million Five Hundred Thousand
Dollars ($9,500,000) for the benefit of Payee (the “A/R Note”);

 

WHEREAS,
the Maker and the Payee desire to amend and restate the A/R Note to, among other things, change the interest rate, principal amount
and the repayment schedule as of November 21, 2018 (the “Effective Date”);

 

NOW,
THEREFORE, for and in consideration of the foregoing, this Promissory Note is executed and delivered to read as follows:

 

FOR
VALUE RECEIVED, the undersigned, HARD ROCK SOLUTIONS, LLC, a Utah limited liability company with its principal place of business
at 2221 N. 3250 W. Vernal, Utah 84078 and SUPERIOR DRILLING SOLUTIONS, LLC, f/k/a Superior Drilling Products, LLC, a Utah limited
liability company with its principal place of business at 2221 N. 3250 W. Vernal, Utah 84078, (hereinafter collectively the “Maker”),
hereby promise to pay to the order of WMAFC, INC, f/k/a HARD ROCK SOLUTIONS, INC., a Texas corporation with its principal place
of business at 7507 County Road 72, Windsor, Colorado 80550 (the “Payee”), the principal sum of Six Million
and No/00 Dollars ($6,000,000.00) together with interest on the outstanding balance of the principal sum at the rates and commencing
at the times and pursuant to the terms hereinafter provided until this promissory note (“Promissory Note”)
is paid in full.

 

1.
Terms. Capitalized terms used herein without definition have the meanings ascribed to them in that certain Membership
Interest Purchase Agreement dated January 28, 2014 by and between Maker, Payee and James D. Isenhour, an individual (the “Purchase
Agreement”).

 

    	 	 	 

    	 

    

 

2.
Principal and Interest. This Promissory Note shall bear interest up until the Effective Date at the fixed interest
rate of 5.75%, and from the Effective Date hereof until October 5, 2020 (the “Maturity Date”) at a fixed interest
rate equal to 7.25% per annum (for the actual number of days occurring in the period for which interest is payable) (“Fixed
Rate”). All accrued and unpaid interest on this Promissory Note shall be due and payable by Maker to Payee as follows:

 

(i)
commencing on January 5, 2019, a principal payment of $750,000.00 plus accrued interest at the Fixed Rate in effect for the period;

 

(ii)
commencing on April 5, 2019, a principal payment of $750,000.00 plus accrued interest at the Fixed Rate in effect for the period;

 

(iii)
commencing on July 5, 2019, a principal payment of $750,000.00 plus accrued interest at the Fixed Rate in effect for the period;

 

(iv)
commencing on October 5, 2019, a principal payment of $750,000.00 plus accrued interest at the Fixed Rate in effect for the period;

 

(v)
commencing on January 5, 2020, a principal payment of $750,000.00 plus accrued interest at the Fixed Rate in effect for the period;

 

(vi)
commencing on April 5, 2020, a principal payment of $750,000.00 plus accrued interest at the Fixed Rate in effect for the period;

 

(vii)
commencing on July 5, 2020, a principal payment of $750,000.00 plus accrued interest at the Fixed Rate in effect for the period;
and

 

(viii)
subject to the succeeding paragraph, on the Maturity Date, the final payment of the entire remaining principal balance of this
Promissory Note in the amount of $750,000.00 plus accrued interest at the Fixed Rate in effect for the period is due in full (the
“Final Payment”).

 

3.
Maturity Date. The entire outstanding principal balance of this Promissory Note, together with all accrued but unpaid
interest thereon, shall be due and payable in full on the Maturity Date (or, if such date is not a business day, then on the immediately
preceding business day), or upon any earlier acceleration of the Maker’s obligations hereunder, unless such obligations
are earlier satisfied in accordance with the terms hereof.

 

4.
Default. If Maker fails to pay, within fifteen (15) days, any principal of or interest on this Promissory Note when
due (“Default”), the holder of this Promissory Note or any part thereof may thereafter provide Maker written
notice of the Default, and if Maker continues to be in Default for thirty (30) days or more after receipt of written notice, Payee
may declare the principal balance hereof and the interest accrued hereon to be immediately due and payable.

 

A
default under the terms of the Security and Pledge Agreement securing this Promissory Note (hereinafter “Security Agreement”)
also is a default under this Promissory Note. If Maker is in default under the terms of the Security Agreement, Payee shall provide
Maker with written notice specifying such default and allow thirty (30) days from receipt of said notice to cure the default.
Maker shall not be in default under the terms of the Security Agreement until such notice has been given and Maker has failed
to cure the default within the thirty (30) day grace period. In the event of a default under the Security Agreement which is not
cured within the time period specified herein, Payee, at Payee’s option, may also accelerate the entire balance of this
Promissory Note.

 

    	 	 	 

    	 

    

 

If
Payee elects to accelerate the balance of this Promissory Note as permitted herein, the entire balance of principal, together
with interest to the date of default and all other amounts due under this Note or the Security Agreement shall, from the date
of default, bear interest at the rate of nine percent (9.00%) per annum (“Default Interest Rate”), and all
such amounts shall be immediately due and payable in full. Interest shall continue to accrue on the full amount of principal,
interest and such other amounts due as of the default date until the default has been cured. The Payee shall have the right to
recover from Maker an additional amount equal to Payee’s reasonable costs in enforcing this Promissory Note and the Security
Agreement in the event of default, including reasonable attorney’s fees and other costs related to the default, whether
or not suit is commenced, and whether or not Payee elects to accelerate the balance. All such reasonable fees and costs must be
paid before a default will be cured.

 

5.
Prepayment. Maker may, at any time, prepay the outstanding balance of principal and interest due under this Promissory
Note in whole or in part, without premium or penalty. In the event of prepayment, there shall become due and payable an amount
equal to all accrued interest attributable to that portion of the outstanding principal balance of the Promissory Note being prepaid
at that time. Partial prepayments shall not defer the due dates for, or the amounts of, succeeding payments. By its execution
hereof, Maker agrees that it shall endeavor to make principal and/or accrued interest payments on this Promissory Note prior to
the due dates set forth herein if in Maker’s good faith determination it has the financial wherewithal to make such prepayments.

 

6.
Payments and Computations. All payments on account of indebtedness evidenced by this Promissory Note shall be made
on the day when due in lawful money of the United States. Payments are to be made at such place as Payee or the legal holders
of this Promissory Note may, from time to time, in writing appoint, and in the absence of such appointment, then at the place
provided in the Notice section of the Purchase Agreement.

 

7.
Applicable Law and Jurisdiction. Maker represents and agrees that this instrument and the rights and obligations
of all parties hereunder shall be governed by and construed under the laws of the State of Colorado without regard to the conflicts
of law principles. Maker hereby consents to the jurisdiction in Colorado concerning any enforcement of this Promissory Note.

 

8.
Severability. The parties hereto intend and believe that each provision in this Promissory Note comports with all
applicable local, state and federal laws and judicial decisions. However, if any provision or provisions, or if any portion of
any provision or provisions, of this Promissory Note is found by a court of law to be in violation of any applicable local, state
or federal ordinance, statute, law, administrative or judicial decision, or public policy, and if the court should declare that
portion, provision or provisions to be illegal, invalid, unlawful, void or unenforceable as written, then it is the intent of
Maker and Payee that such portion, provision or provisions be given force to the fullest possible extent that they are legal,
valid and enforceable, that the remainder of this Promissory Note shall be construed as if the illegal, invalid, unlawful, void
or unenforceable portion, provision or provisions were not contained herein, and that the rights, obligations and interest of
Maker and Payee or the legal holders hereof under the remainder of this Promissory Note shall continue in full force and effect.

 

    	 	 	 

    	 

    

 

9.
Maximum Interest. Payee and Maker intend to contract in strict compliance with applicable usury law from time to
time in effect. In furtherance thereof Payee and Maker hereby stipulate and agree that none of the terms and provisions contained
herein shall ever be construed to create a contract to pay, for the use, forbearance or detention of money, interest in excess
of the maximum amount of interest permitted to be charged by applicable law from time to time in effect. Neither Maker nor any
present or future guarantors, endorsers, or other Persons hereafter becoming liable for payment of any indebtedness hereunder
shall ever be liable for unearned interest thereon or shall ever be required to pay interest thereon in excess of the maximum
amount that may be lawfully contracted for, charged, or received under applicable law from time to time in effect, and the provisions
of this section shall control over all other provisions hereof which may be in conflict or apparent conflict herewith. Payee expressly
disavows any intention to contract for, charge, collect or receive excessive or unearned interest or finance charges in the event
the maturity of any indebtedness hereunder is accelerated or upon the occurrence of any other event. If the maturity of any indebtedness
hereunder is accelerated for any reason, any such indebtedness is prepaid and as a result any amounts that constitute interest
are in excess of the legal maximum, or Payee or any other holder of any or all of the indebtedness hereunder shall otherwise charge,
receive, or collect, or any Person shall pay, moneys which would otherwise increase the interest on any or all of the indebtedness
hereunder to an amount in excess of that permitted by applicable law then in effect, then all sums that constitute interest in
excess of such legal limit shall, without penalty, be promptly applied to reduce the then outstanding principal of the related
indebtedness or, at Payee’s or holder’s option, promptly returned to Maker or the other payor thereof, as applicable,
upon such determination. In determining whether or not the interest paid or payable, under any specific circumstance, exceeds
the maximum amount permitted under applicable law, Payee and Maker (and any other payors thereof) shall to the greatest extent
permitted under applicable law, characterize any non-principal payment as an expense, fee or premium rather than as interest,
exclude voluntary prepayments and the effects thereof, and amortize, prorate, allocate, and spread the total amount of interest
throughout the entire contemplated term of the instruments evidencing the indebtedness hereunder in accordance with the amounts
outstanding from time to time thereunder and the maximum legal rate of interest from time to time in effect under applicable law
in order to lawfully contract for, charge, collect, or receive the maximum amount of interest permitted under applicable law.
As used in this section the term “applicable law” means the laws of the State of Colorado including the Laws of the
United States of America, as such Laws now exist or may be changed or amended or come into effect in the future.

 

10.
Purchase Agreement. This Promissory Note is the Note referred to in the Purchase Agreement. Payment of this Promissory
Note is subject to the Purchase Agreement and the parties hereto agree that this Promissory Note shall not be effective until
the occurrence of the Closing and the satisfaction of any obligations as specifically set forth in the Purchase Agreement.

 

11.
Assignment. Payee may assign this Promissory Note in whole or in part or any right to the proceeds hereof, provided
that Payee gives Maker prior written notice of any such assignment.

 

12.
Notices. All notices and other communications provided for hereunder shall be in writing (including facsimile communication)
and mailed, telegraphed, telecopied or delivered to the addresses provided for in the Purchase Agreement or, as to each party,
at such other address as designated by that party in a written notice to the other party. All notices and communications shall
be deemed to have been validly served, given or delivered (i) three (3) business days following deposit in the United States mail,
with proper postage prepaid; (ii) upon delivery if delivered by hand to the party to be notified; or (iii) the following day if
sent by facsimile transmission.

 

    	 	 	 

    	 

    

 

13.
Waiver. Maker and all parties now or hereafter liable for the payment hereof, whether as endorser, guarantor, surety
or otherwise, generally waive demand, presentment for payment, notice of dishonor, protest and notice of protest, notice of intent
to accelerate and notice of acceleration, and diligence in collecting or bringing suit against any party hereto, and agree to
all extensions, renewals, indulgences, releases or changes which from time to time may be granted by the holder hereof and to
all partial payments hereon, with or without notice before or after maturity.

 

14.
Attorney’s Fees. Should the indebtedness represented by this Promissory Note or any part hereof be collected
at law or in equity or through any bankruptcy, receivership, probate or other court proceedings or if this Promissory Note is
placed in the hands of attorneys for collection after any default, Maker and all endorsers, guarantors and sureties of this Promissory
Note jointly and severally agree to pay to the holder of this Promissory Note in addition to the principal and interest due and
payable hereon all the costs and expenses of said holder in enforcing this Promissory Note including, without limitation, reasonable
attorneys’ fees and legal expenses.

 

15.
Collateral. This Promissory Note is secured by a first lien security interest in all of the collateral described
in the Security Agreement.

 

16.
Promissory Note. This Promissory Note shall constitute a modification and a renewal of all prior promissory notes
executed by Maker and payable to the Payee.

 

Time
is of the essence as to all dates set forth herein.

 

[Signature
page follows]

 

    	 	 	 

    	 

    

 

Maker
has executed and delivered this Promissory Note as of the day and year first set forth above.

 

	MAKER:	HARD
    ROCK SOLUTIONS, LLC
	 	a
    Utah limited liability company
	 	 	 
	 	By
    Its Manager:
	 	 
	 	Superior
    Drilling Solutions, LLC f/k/a Superior Drilling Products, LLC,
	 	a
    Utah limited liability company
	 	 	 
	 	By:	/s/ Troy
    Meier
	 	 	Troy
    Meier, President
	 	 	 
	 	SUPERIOR
    DRILLING SOLUTIONS, LLC f/k/a Superior Drilling Products, LLC,
	 	a
    Utah limited liability company
	 	 	 
	 	By:	/s/ Troy
Meier
	 	 	Troy
    Meier, President
	 	 	 
	PAYEE:	WMAFC,
    INC. f/k/a HARD ROCK SOLUTIONS, INC.,
	 	a
    Texas corporation
	 	 	 
	 	By:	/s/ James
    D. Isenhour
	 	 	James
    D. Isenhour, President

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