Document:

ZIPREALTY, INC.

 

CHANGE OF CONTROL AGREEMENT –
SECTION 16 EXECUTIVE OFFICERS

 

This Change of Control Agreement (the “Agreement”)
is made and entered into by and between ZipRealty, Inc., a Delaware corporation (the “Company”), and the individual
whose name is set forth on the signature page to this Agreement (the “Executive”).

 

R E C I T A L S

 

A.           It is expected that the Company from
time to time will consider the possibility of an acquisition by another company or other change of control. The Board of Directors
of the Company (the “Board”) recognizes that such consideration can be a distraction to the Executive and can cause
the Executive to consider alternative employment opportunities. The Board has determined that it is in the best interests of the
Company and its shareholders to assure that the Company will have the continued dedication and objectivity of the Executive, notwithstanding
the possibility, threat or occurrence of a Change of Control of the Company.

 

B.            The Board believes that it is in the
best interests of the Company and its shareholders to provide the Executive with an incentive to continue his employment and to
motivate the Executive to maximize the value of the Company upon a Change of Control for the benefit of its shareholders.

 

C.            Certain capitalized terms used in
the Agreement are defined in Section 4 below.

 

NOW, THEREFORE, for good and valuable consideration,
the receipt and sufficiency of which is acknowledged, the parties hereto agree as follows:

 

1.             Term of Agreement. This Agreement shall terminate upon the date that all obligations of the parties hereto with respect
to this Agreement have been satisfied.

 

2.             At-Will Employment. The Company and the Executive acknowledge that the Executive’s employment is and shall
continue to be at-will, as defined under applicable law. If the Executive’s employment terminates for any reason, including
(without limitation) any termination prior to a Change of Control, the Executive shall not be entitled to any payments, benefits,
damages, awards or compensation other than as provided by this Agreement, or as may otherwise be available in accordance with the
Company’s established Executive plans and practices or pursuant to other agreements with the Company.

 

3.            
Benefits.

 

(a)               
Termination Following A Change of Control. In the event that a Change of Control of the Company occurs and during
the period beginning on the closing date of the transaction giving rise to such Change of Control and ending 12 months after such
closing date, the Executive’s employment with the Company (or the successor entity in such Change of Control transaction)
is either (a) terminated by the Company (or its successor entity) without Cause or (b) is Constructively Terminated, then:

 

    	 

    	 

    

 

                                                                            
(i)           
One hundred percent (100%) of all unvested Stock Rights as of such date shall become fully vested on the date of such termination;
and

 

                                                             (ii)           
The Company will continue to pay the Executive at a rate equal to the Executive’s then-current annual base salary
for a period of 12 months (the “Continuation Period”), which payments will be made in accordance with the Company’s
standard payroll procedures on the Company’s regularly scheduled payroll dates, commencing with the first regularly scheduled
payroll date that occurs on or after the termination.

 

For purposes of Section 409A of the Internal
Revenue Code of 1986, as amended (the “Code”), each payment that is made pursuant to this section (ii) is hereby designated
as a separate payment. The amount paid under this section (ii) in connection with Executive’s separation is intended to be
exempt from Code Section 409A pursuant to Treasury Regulation Section 1.409A-1(b)(9)(iii) and any ambiguities herein
shall be interpreted for such amount to so be exempt. To the extent the severance payment under this section (ii) is exempt from
the requirements of Section 409A, it will in any event be paid no later than the last day of the Executive’s 2nd taxable
year following the taxable year in which the Executive’s separation has occurred; provided that, to the extent that such
and any other payment paid to the Executive in connection with Executive’s separation does not qualify or otherwise exceeds
the limit set forth in Treasury Regulation Section 1.409A-1(b)(9)(iii)(A) or any similar limit promulgated by Treasury or
the IRS, the portion of the payment that does not qualify or otherwise exceeds such limit, as determined by the Company in its
sole discretion, shall be paid by no later than the 15th day of the 3rd month following the end of the Executive’s first
tax year in which the Executive’s separation occurs, or, if later, the 15th day of the 3rd month following the end of the
Company’s first tax year in which the Executive’s separation occurs, as provided in Treasury Regulation Section 1.409A-1(b)(4).
Notwithstanding the foregoing, if the Executive is, at the time of his or her separation, a “specified employee,” as
defined in Treasury Regulation Section 1.409A-1(i) (i.e., the Executive is a “key employee” of a publicly traded
company), and if any payment set forth herein does not qualify for any reason to be exempt from Code Section 409A, the payment
will be delayed to the extent required in order to avoid a prohibited distribution under Code Section 409A(a)(2)(B)(i). Any
payments that are delayed pursuant to the foregoing shall be paid in a single lump sum payment on the first payment date that is
permitted under Code Section 409A(a)(2)(B)(i) (i.e., the date that is 6 months after the Executive’s separation or the
date of the Executive’s death), and any remaining payments due under the Agreement will be paid as otherwise provided herein.

 

(b)              
Termination For Cause. If the Executive’s employment terminates by reason of the Executive’s voluntary
resignation (and is not a Constructive Termination), or if the Executive is terminated for Cause, then the Executive shall not
be entitled to receive the accelerated vesting of Stock Rights set forth in Section 3(a) above.

 

(c)               
Termination Apart from Change of Control. In the event the Executive’s employment is terminated for any reason,
either prior to the occurrence of a Change of Control or after the twelve (12)-month period following a Change of Control, then
the Executive will be entitled to receive severance and any other benefits only as may then be established under the Company’s
existing written severance and benefits plans and practices or pursuant to other written agreements with the Company.

 

    	-2-

    	 

    

 

4.             Definition of Terms. The following terms referred to in this Agreement shall have the following meanings:

 

(a)               
Cause. “Cause” means (i) the Executive’s failure to perform (other than due to mental or physical
disability or death) the duties of Executive’s position (as they may exist from time to time) to the reasonable satisfaction
of the Company (or the successor corporation) after receipt of a written warning and failure to cure any such non-performance within
ten business days of receipt of such written warning; (ii) any act of
dishonesty taken in connection with the Executive’s responsibilities as an Executive that is intended to result in such Executive’s
personal enrichment; (iii) the Executive’s conviction or plea of no contest to a crime that negatively reflects on
the Executive’s fitness to perform Executive’s duties or harms the Company’s (or the successor corporation’s)
reputation or business; (iv) willful misconduct by the Executive that
is injurious to the Company’s (or the successor corporation’s) reputation or business;
or (v) the Executive’s willful violation of a material Company employment policy. For purposes of this definition,
an act or failure to act will be deemed “willful” if effected not in good faith or without reasonable belief that such
action or failure to act was in the best interests of the Company (or the successor corporation).

(b)              
“Change in Control” means the occurrence of any of the following events:

 

                                                                         (i)           
Any “person” (as such term is used in Sections 13(d) and 14(d) of the Exchange Act) becomes the “beneficial
owner” (as defined in Rule 13d-3 of the Exchange Act), directly or indirectly, of securities of the Company representing
fifty percent (50%) or more of the total voting power represented by the Company’s then outstanding voting securities; or

 

                                                                         (ii)           
The approval by shareholders of the sale or disposition by the Company of all or substantially all of the Company’s
assets;

 

                                                                        
(iii)           
A change in the composition of the Board occurring within a two-year period, as a result of which fewer than a majority
of the directors are Incumbent Directors. “Incumbent Directors” means directors who either (A) are Directors as
of the effective date of the Plan, or (B) are elected, or nominated for election, to the Board with the affirmative votes
of at least a majority of the Incumbent Directors at the time of such election or nomination (but will not include an individual
whose election or nomination is in connection with an actual or threatened proxy contest relating to the election of directors
to the Company); or

 

                                                                        
(iv)           
The approval by shareholders of a merger or consolidation of the Company with any other corporation, other than a merger
or consolidation which would result in the voting securities of the Company outstanding immediately prior thereto continuing to
represent (either by remaining outstanding or by being converted into voting securities of the surviving entity or its parent)
at least fifty percent (50%) of the total voting power represented by the voting securities of the Company or such surviving entity
or its parent outstanding immediately after such merger or consolidation.

 

    	-3-

    	 

    

 

For purposes of clauses (i) and (iii) above,
such Change of Control shall be deemed to have occurred on the date on which the transaction closes; for the purpose of clauses
(ii) and (iv) above, such Change of Control shall be deemed to have occurred on the date on which the Company's shareholders approve
a transaction described in that clause. Notwithstanding the foregoing, the reincorporation of the Company in Delaware (or any other
jurisdiction) shall not constitute a Change of Control for purposes of this Agreement.

 

(c)               
Constructive Termination. “Constructive Termination” shall mean the occurrence of any of the following
without the Executive’s express written consent (i) the assignment to the Executive of any duties or the reduction of
the Executive’s duties, either of which results in a significant diminution in the Executive’s position or responsibilities
in effect immediately prior to such assignment, or the removal of the Executive from such position and responsibilities, provided,
however that changes in the circumstances of employment which are solely the result of changes in corporate legal structure resulting
directly from the Change of Control shall not constitute a basis for Constructive Termination; (ii) a substantial reduction,
without good business reasons, of the facilities and perquisites (including office space and location) available to the Executive
immediately prior to such reduction; (iii) a material reduction by the Company in the cash compensation of the Executive as
in effect immediately prior to such reduction; (iv) a material reduction by the Company in the kind or level of employee benefits
to which the Executive is entitled immediately prior to such reduction with the result that the Executive’s overall benefits
package is significantly reduced; or (v) the relocation of Executive’s principal place of employment to a facility or
a location more than 50 miles from the Executive’s then present location.

 

(d)              
Stock Rights. “Stock Rights” shall mean all options to acquire shares of Company Common Stock or stock
appreciation rights under plans, agreements or arrangements which are compensatory in nature, including, without limitation, the
Company’s 1999 Stock Plan and 2004 Equity Incentive Plan, and any restricted stock issued by the Company.

 

5.             Successors.

 

(a)               
Company’s Successors. Any successor to the Company (whether direct or indirect and whether by purchase, merger,
consolidation, liquidation or otherwise) to all or substantially all of the Company’s business and/or assets shall assume
the obligations under this Agreement and agree expressly to perform the obligations under this Agreement in the same manner and
to the same extent as the Company would be required to perform such obligations in the absence of a succession. For all purposes
under this Agreement, the term “Company” shall include any successor to the Company’s business and/or assets
which executes and delivers the assumption agreement described in this Section 5(a) or which becomes bound by the terms of
this Agreement by operation of law.

 

(b)              
Executive’s Successors. The terms of this Agreement and all rights of the Executive hereunder shall inure to
the benefit of, and be enforceable by, the Executive’s personal or legal representatives, executors, administrators, successors,
heirs, distributees, devisees and legatees.

 

    	-4-

    	 

    

 

6.             Notice.

 

(a)               
General. Notices and all other communications contemplated by this Agreement shall be in writing and shall be deemed
to have been duly given when personally delivered or when mailed by U.S. registered or certified mail, return receipt requested
and postage prepaid. In the case of the Executive, mailed notices shall be addressed to the Executive at his or her home address
most recently communicated to the Company in writing. In the case of the Company, mailed notices shall be addressed to its corporate
headquarters, and all notices shall be directed to the attention of its Secretary.

 

(b)              
Notice of Termination. Any termination by the Company for Cause or by the Executive as a result of a voluntary resignation
or a Constructive Termination shall be communicated by a notice of termination to the other party hereto given in accordance with
Section 6(a) of this Agreement. Such notice shall indicate the specific termination provision in this Agreement relied upon,
shall set forth in reasonable detail the facts and circumstances claimed to provide a basis for termination under the provision
so indicated, and shall specify the termination date (which shall be not more than 30 days after the giving of such notice). The
failure by the Executive to include in the notice any fact or circumstance which contributes to a showing of Constructive Termination
shall not waive any right of the Executive hereunder or preclude the Executive from asserting such fact or circumstance in enforcing
Executive’s rights hereunder.

 

7.            
Miscellaneous Provisions.

 

(a)               
No Duty to Mitigate. The Executive shall not be required to mitigate the amount of any payment contemplated by this
Agreement, nor shall any such payment be reduced by any earnings that the Executive may receive from any other source.

 

(b)              
Waiver. No provision of this Agreement shall be modified, waived or discharged unless the modification, waiver or
discharge is agreed to in writing and signed by the Executive and by an authorized officer of the Company (other than the Executive).
No waiver by either party of any breach of, or of compliance with, any condition or provision of this Agreement by the other party
shall be considered a waiver of any other condition or provision or of the same condition or provision at another time.

 

(c)               
Headings. All captions and section headings used in this Agreement are for convenient reference only and do not form
a part of this Agreement.

 

(d)              
Whole Agreement. No agreements, representations or understandings (whether oral or written and whether express or
implied) which are not expressly set forth in this Agreement have been made or entered into by either party with respect to the
subject matter hereof. This Agreement represents the entire understanding of the parties hereto with respect to the subject matter
hereof and supersedes all prior arrangements and understandings regarding the same, including, if applicable, any prior Change
of Control Agreement entered into by and between the Company and the Executive which shall be superseded by this Agreement notwithstanding
Section 7(d) of such agreement. No future agreements between the Company and the Executive may supersede this Agreement, unless
they are in writing and specifically mention this Section 7(d).

 

    	-5-

    	 

    

 

(e)               
Choice of Law. The validity, interpretation, construction and performance of this Agreement shall be governed by
the laws of the State of California (with the exception of its conflict of laws provisions).

 

(f)               
Severability. The invalidity or unenforceability of any provision or provisions of this Agreement shall not affect
the validity or enforceability of any other provision hereof, which shall remain in full force and effect.

 

(g)              
Counterparts. This Agreement may be executed in counterparts, each of which shall be deemed an original, but all
of which together will constitute one and the same instrument.

 

* * *

 

    	-6-

    	 

    

 

IN WITNESS WHEREOF, each of the parties
has executed this Change in Control Agreement, in the case of the Company by its duly authorized officer, as of the day and year
set forth below.

 

	COMPANY:	ZIPREALTY, INC.
	 	 	 
	 	By:	 
	 	Name:	Charles C. Baker
	 	Title:	Chief Executive Officer and President
	 	Date:	________________________________
	 	 	 
	EXECUTIVE:	Name:    	________________________________
	 	 	 
	 	Signature:  	________________________________
	 	Date:	________________________________THIS AGREEMENT is made the 27th
day of November 2013

 

 

		BETWEEN:	Capital Award Inc. (Company #33,562), a company incorporated in Belize City, Belize,
Central America with its business office at Room 3801, Block A, China shine Plaza, No. 9, Linhexin Road, Tianhe District, Guangzhou
City 510610, China, (“the Company”) of the first part

 

		AND:	The party referred to in Schedule 1 (“the Licensee”) of the second part

 

 

RECITALS

 

		A.	The Company is entitled to use and licence other users of the secrets, copyrights, processes, know-how
or other intellectual property associated with “A Power” re-circulated aquaculture systems.

 

		B.	The Company has agreed to grant to the Licensee a licence to use and exploit the intellectual property
in the manner referred to in this Agreement.

 

 

NOW THE PARTIES HERETO AGREE as
follows:

 

		1.	Interpretation

 

		(1)	In this Agreement the following definitions shall apply:

 

“Commencement Date”
means the date on which this Agreement is fully executed;

 

“A Power Module”
means an engineered, self-contained, water treatment system for the growing of aquatic animals on a commercial scale.

 

It consists of a Grow-out Basin
and a Treatment Stack placed within the centre of the Basin. The Basin holds the water in which the animals are to be grown. The
Treatment chamber is fitted within the Basin fully submerged in the water.

 

From the beginning chain to the
ending position of the Treatment chamber is made up of; inlet screens, an un-dissolved solids separator, aeration diffusers, Bio-filter,
outlet and inner screens, an un-dissolved solids airlift pump, a solids removal filter, diseases eliminating chamber, disinfectant
filtration chamber and a degassing system. The Grow-Out Basin and all Treatment Chamber components are designed and manufactured
specifically as per A Power’s designs and specifications. The combination of these components assembled within the Basin
confines and operated specifically to grow aquatic animals is defined as the A Power Module (APM).

 

    	 

    	 

    

 

 

“Intellectual Property”
includes but is not limited to the technology, copyrights, processes, know-how, designs, operations manuals, specifications of
equipment and descriptions of operating principles and technology or other like rights particulars of which are in Schedule 2;

 

“Manufacture”
includes construct, assemble, produce or otherwise prepare for commercial use or exploitation;

 

“Processes”
includes technologies, products, devices, processes or techniques;

 

“Product”
means the products and/or processes set forth in Schedule 3 which incorporate the use of the Intellectual Property;

 

“Project”
means the aquaculture development set forth in Schedule 4.

 

		(2)	A reference to persons shall include corporations; words including singular number shall include
plural number and vice versa; words including a gender shall include all other genders.

 

		(3)	A reference in this Agreement to a statute or a section of a statute includes all amendments to
that statute or section passed in substitution for incorporating any of its provisions.

 

		(4)	Except for the purpose of identification headings and underlinings have been inserted in this Agreement
for the purpose of guidance only and shall not be part of this Agreement.

 

		(5)	The Recitals shall form part of this Agreement.

 

		2.	Commencement and Term

 

This Agreement shall commence
on the Commencement Date and continue subject to rights of early termination at clause 7 for the respective terms stipulated in
Schedule 5.

 

 

    	 

    	 

    

 

		3.	Licence

 

		(1)	The Company hereby grants to the Licensee a licence, with no right to sub-licence the Intellectual
Property, to make, have made or use within the project for the term of this Agreement.

 

		(2)	The Company will furnish the Intellectual Property to the Licensee for the purpose of this Agreement
in the manner and stipulated in Schedule 6.

 

		(3)	The Licensee will not use the Intellectual Property to manufacture, have made, use or market any
product in any location other than that referred to in the project nor will it use the Intellectual Property for any purpose other
than that permitted by the Company under clause 3(1).

 

		(4)	Where the Company has indicated to the Licensee that the whole or any part or parts of the Intellectual
Property comprises confidential material the Licensee will not at any time during the term of this Agreement or after its termination
or expiration disclose such confidential material to any person or corporation without first obtaining the written consent of the
Company and the Licensee will take such steps as may be necessary to ensure that any of its servants or agents do not disclose
such confidential material.

 

		4.	Licence Fees

 

		(1)	During the term of this Agreement the Licensee shall pay to the Company the Licence Fee as calculated
pursuant to Schedule 7.

 

		(2)	The Licensee shall notify the Company of the number of Products manufactured and/or sold during
the relevant period, and such notification shall be made at 6-month intervals commencing from the date the Product first installed,
manufactured or sold in the Project and shall, if required by the Company, be certified as correct by a person approved by the
Company for this purpose.

 

		5.	Maintenance and Inspection of Records

 

		(1)	The Licensee shall maintain accurate records of the manufacture and sale of the product and any
other information reasonably required by the Company relevant to the product manufactured and sold.

 

		(2)	The Licensee shall permit a person authorised by the Company from time to time during ordinary
business hour to inspect and verify all or any records required to be maintained by the Licensee under this clause and the Licensee
shall give all assistance necessary to such person so authorised by the Company to carry out such inspection and verification and
permit such person to take copies of any such records.

 

    	 

    	 

    

 

		6.	Infringement

 

		(1)	In the event the Licensee learns of any infringement or threatened infringement of any of the Intellectual
Property rights licensed under this Agreement or any common law passing-off by reason of imitation of get-up or otherwise or that
any third party alleges or claims that any of the trademarks licensed as Intellectual Property in this Agreement are liable to
cause deception or confusion to the public, the Licensee shall immediately notify the Company in writing giving particulars of
the infringement and the Company shall then seek the opinion of senior counsel practising in the relevant part of the territory
in the law in respect of industrial property rights as to the prospects of success of an action against the infringer(s) and unless
such senior counsel advises there is little prospect of success in the action, the Company will promptly institute and prosecute
an action against the infringement.

 

		(2)	The proceeds from any judgment or settlement made by the Company in any action brought by it under
clause 6(1) shall be used to pay the Company’s costs and expenses in prosecuting the action and the remainder of the proceeds
shall be shared by the Company and the Licensee equally.

 

		(3)	The Licensee and the Company shall each execute all documents and do all things reasonably necessary
to aid and cooperate in the prosecution of any such actions brought under clause 6(2).

 

		7.	Termination

 

		(1)	This Agreement may be terminated forthwith by either party by written notice to the other party
if the other party commits any breach of any provision of this Agreement and has failed to remedy such breach within thirty (30)
days of receipt of written notice requiring it to do so.

 

		(2)	The Company may by notice in writing terminate this Agreement in any of the following circumstances:

 

		(a)	the making or filing of an application to wind up the Licensee (otherwise than for the purpose
of reconstruction or amalgamation) under any law or government regulation relating to bankruptcy or insolvency;

 

    	 

    	 

    

 

		(b)	the appointment of a receiver for all or substantially all of the property of the Licensee;

 

		(c)	the making by the Licensee of any assignment or attempted assignment for the benefit of its creditors;

 

		(d)	the institution by the Licensee of any proceedings for
the liquidation or winding up of its business; or

 

		(3)	Any termination of this Agreement pursuant to clause 7(1) or 7(2) shall be without prejudice to
the rights of the party terminating to seek and obtain damages for any breach of this Agreement by the other party.

 

		8.	Effect of Termination

 

		(1)	On early termination of this Agreement the Licensee shall deliver to the Company all documents
and other materials (including all copies) in its possession relating to the Intellectual Property and will do such further things
as may be reasonably required by the Company to protect its right, title and interest in the Intellectual Property PROVIDED
THAT in the event of early termination the Licensor retains the right to continue the supply of the Intellectual Property until
the completion of the project.

 

		(2)	On the early termination of this Agreement all licence fees previously paid shall remain the property
of the Company and the Licensee shall make no claim in respect of them and the Licensee shall further pay to the Company any licence
fee accrued debt but unpaid as at the date of the termination.

 

		9.	Secrecy Obligation

 

		(1)	The Licensee shall:

 

		(a)	keep confidential all information and technical data disclosed by the Company to the Licensee PROVIDED
THAT the Licensee shall have the right to disclose such information to its employees insofar as it is necessary for them to
know the information for the use of the licences granted herein; and

 

		(b)	not use any of the Company’s disclosures or other information or technical data except for
the purposes of the licences granted herein and on the terms of this Agreement.

 

    	 

    	 

    

 

 

		(2)	Notwithstanding the provisions of clause 9(1) the Licensee may disclose information if and to the
extent that such disclosure is forced by laws, regulations or orders.

 

		10.	Company’s Warranties

 

		(1)	The Company hereby warrants that the use of any or all of the Intellectual Property according to
the terms and conditions of this Agreement will not result in the infringements of proprietary rights of third parties.

 

		(2)	The Company will indemnify and at all times hereafter hold the Licensee fully and effectively indemnified
against any losses, costs, actions, claims, demands, expense, judgments, court orders or other liabilities arising directly or
indirectly out of or in connection with any claim made or threatened, whether by legal proceedings or otherwise, against the Licensee
by a third party on the ground that by virtue of rights to which such third party lays claim, under letters, patent or copyright
(whether registered as a design or not) or any other similar right or claim including (but without limitation) rights arising from
the disclosure under cover of confidence, such third party is entitled to prevent or interfere with the free use of any or all
of the Intellectual Property by the Licensee pursuant to this Agreement AND so that this indemnity will further extend to
any claim against the Licensee by its customers in respect of any similar loss or injury and court fees and expenses of damages
and costs and loss or injury suffered by compliance with an injunction ordered on the part of such customers.

 

		11.	Licensee’s Indemnity

 

		(1)	The Licensee shall promptly advise the Company in writing of any actions, suits, claims, demands,
proceedings, losses, damages, compensation, sums of money, costs, charges and expenses which may be brought or claimed against
the Licensee or the Company or in respect of which the Licensee or the Company may become liable arising out of the promotion,
sale, supply or other use of the product by the Licensee, its servants or agents.

 

		(2)	The Licensee hereby indemnifies and agrees to keep the Company indemnified against any actions,
suits, claims, demands, proceedings, losses, damages, compensation, sums of money, costs (including solicitor and client costs),
charges and expenses arising out of the promotion, sale, supply or other use of the product by the Licensee, its servants or agents.
The defence of any litigation to which the clause applies shall be under the control of the Licensee, its solicitors and counsel
and all legal costs and expenses of any such litigation shall be borne by the Licensee and the Company, its solicitors and counsel
may participate in such litigation at the expense of the Company.

 

    	 

    	 

    

 

		12.	Special Conditions

 

The Licensee
agrees to comply with the special conditions (if any) set out in Schedule 8.

 

		13.	General

 

		(1)	Waiver: Any waiver or forbearance in regard to the performance of this Agreement shall operate
only if in writing and shall apply only to the specified instance and shall not affect the existence and continued applicability
of the terms of it thereafter.

 

		(2)	Entire Agreement: This Agreement embodies all the terms binding between the parties and
replaces all previous representations or proposals not embodied herein.

 

		(3)	Assignment:

 

		(a)	the Licensee shall not assign all or any of its rights hereunder without the prior written consent
of the Company, which consent the Company may grant or not in its absolute discretion;

 

		(b)	the Company may at its discretion assign all or any of its rights hereunder.

 

		(4)	Applicable law: This Agreement shall be read and construed according to the laws of Hong
Kong China and the parties submit to the jurisdiction of that of Hong Kong.

 

		(5)	Amendments: This Agreement may not be varied except in writing signed by the parties.

 

		(6)	Severability: If any provision of this Agreement is held by a court to be unlawful, invalid
unenforceable or in conflict with any rule of law, statute, ordinance or regulation the validity and enforceability of the remaining
provisions shall not be thereby affected.

 

		(7)	Notices: All notices shall be in writing and shall be given by any one of the following
means:

 

		(a)	by delivering it to the address of the party on a business day during normal business hours;

 

    	 

    	 

    

 

		(b)	by sending it to the address of the party by pre-paid airmail post or if airmail post is not available
by ordinary post; or

 

		(c)	by sending it by telex or facsimile transmission to the telex number or facsimile of the party
and on the next business day giving it by either of the means set forth in sub-paragraph (a) or (b) above.

 

		(8)	A notice shall be deemed to be given and received:

 

		(a)	if given in accordance with clause 13(7)(a) on the next business day after the day of delivery
in the place of delivery;

 

		(b)	if given in accordance with clause 13(7)(b) five (5) clear business days after the day of posting
in the place of delivery;

 

		(c)	if given in accordance with clause 13(7)(c) on the next business day after transmission in the
place of delivery.

 

		(9)	The address, telex, email and facsimile numbers referred to in clause 13(7) shall in the absence
of notices to the contrary be as set out below:

 

THE COMPANY:

		Address:	Room 3801, Block A, Chinashine Plaza,

                                                                                No. 9, Linhexi Rd. Tianhe District,

                                                                                Guangzhou City, 510610, China

		Email	info@sinoagrofood.com

		Facsimile:	(86)20-22057863

 

THE LICENSEE:

		Address:	Room 1613, 16/F, Tai Yau building, 181

                                                                        Johnston Road, Wanchi, Hong Kong

		Email:	fxj.godl8@163.com

		Facsimile:	(852) 28156319

 

		(10)	Further Agreements: Each party shall execute such agreements, deeds and documents and do
or cause to be executed or done all such acts and things as shall be necessary to give effect to this Agreement.

 

		(11)	Charges: All stamp duties and governmental charges arising out of or incidental to this
Agreement shall be the responsibility of any payable by the Licensee.

 

    	 

    	 

    

 

IN WITNESS WHEREOF
the parties have executed this Agreement the day and year first above written.

 

 

	THE COMMON SEAL of	)
	CAPITAL AWARD INC	)
	(Company#33562)	)
	was hereunto affixed with due	)
	authority and in the presence of	)
	 	)
	 	 

 

 

 

.........................................................

Signature
of sole Director andI have witnessed the seal in

Company
Secretarythe capacity of Director 

Solomon Lee

Name of Director

 

 

 

 

	SIGNED for and on behalf of	)
	THE LICENSEE in the presence of:	)
	 	)
	 	)       ...........................................................
		)

 

 

..........................................................

 

    	 

    	 

    

 

 

SCHEDULE 1

 

The LicenseeGlory
Ocean Development Limited, a private limited company incorporated under the laws of Hong Kong China.

 

			Registered office: Room 1613, 16th Floor, Tai Yau Building, 181, Johnston Road, Wanchai,
Hong Kong.

			

 

SCHEDULE 2

 

	The Intellectual Property	(a)	the A Power Module

 

		(b)	the A Power grow-out basin

 

		(c)	the A Power treatment chamber

 

		(d)	the A Power farm management systems and procedures

 

 

SCHEDULE 3

 

	The Product	(a)	the A Power grow-out basin

 

		(b)	the A Power treatment chamber

 

		(c)	the A Power operations and treatment instructions

 

		(d)	the solid waste filter

 

		(e)	the bio-filter

 

		(f)	the airlift pump

 

		(g)	the air diffuser assembly and components

 

		(h)	the disease treatment chamber

 

		(i)	the disinfectant chamber

 

  

    	 

    	 

    

 

SCHEDULE 4

 

	The Project	(a)	Project Name: Zhangshen City prawn farming development of 8,000 mu (or New Prawn Project Zhongshen)

 

		(b)	Location: The lands of 8,000 mu located on the Zhongshen
City, Heng Men Ken District marked from E009 to E057.

 

		(c)	Total number of A Power Modules licensed: up to 10,000 APM as may be constructed in phases of development
by the Licensee in the Project.

 

SCHEDULE 5

 

		Term	The Agreement terminates when the Licensee and the Company mutually agree that the Project has
been completed.

 

 

SCHEDULE 6

 

Manner in which the intellectual
The Intellectual Property provided under property is to be supplied the Licence will be provided as:

 

		(a)	promotion videos;

		(b)	design specifications

		(c)	construction drawings

		(d)	operation and service instructions

		(e)	products forming part of the A Power Module

 

SCHEDULE 7

 

	Licencefees	 	The fee for the A Power license is calculated at US$25,000
per APM times number of APMs that will be constructed in each phase of development of the project payable by the Licensee in the
following procedures and phases:-

 

    	 

    	 

    

 

 

		(a)	The Initial Payment per phase of development:

 

10% deposit
shall be paid by the Licensee within 60 days from the invoice date issued by the Company in accordance with Licensee’s
purchase order.

 

		(b)	The Second payment per phase of development::

 

			25% of the invoiced amount shall be paid by the Licensee within 60 days from the date of the invoice.

 

		(c)	The Third Payment per phase of development:

 

			55% of the invoiced amount shall be paid by the Licensee within 60 days from the date the Company’s
certified installation contractors certify the completion of installation of the product purchased by the Licensee under Schedule
7 (b) hereof.

 

		(d)	The final Payment per phase of development: Balance of 10% shall be paid by the Licensee upon completion
of the phase’s development.

 

 

SCHEDULE 8

 

	Special Conditions	(a)	all Products must be purchased from suppliers approved by the Company;

 

		(b)	all assembly, construction, starting and testing of the
A Power Modules must be carried out by the Company’s certified installation contractors

 

		(c)	The intellectual property shall not be provided to the
Licensee until the Licensee has complied with the provisions of Schedule 7 (a) herein.

 

		(e)	Upon compliance by the Licensee of the provision of clause
4 herein, the Licensee shall be entitled to issue for and on behalf of the Company to any third party, who purchases the Product
for its intended use, a certificate of eligibility to use the Product installed in the Project and purchased by the said third
party.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00227-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00227-of-00352.parquet"}]]