Document:

EX-10.4

 Exhibit 10.4 

FORM OF EMPLOYMENT AGREEMENT 

This EMPLOYMENT AGREEMENT (the “Agreement”) is entered into as of
                     by and between QuantaSing Group Limited (the “Company”), an exempted company duly incorporated and validly
existing under the law of the Cayman Islands, and                ([Passport/ID]
Number                ), an individual (the “Executive”). The term “Company” as used herein with respect to all obligations of the Executive
hereunder shall be deemed to include the Company and all of its direct or indirect parent companies, subsidiaries, affiliates, or subsidiaries or affiliates of its parent companies (collectively, the “Group”). 

RECITALS 
 A.     The
Company desires to employ the Executive and to assure itself of the services of the Executive during the term of Employment (as defined below). 

B.     The Executive desires to be employed by the Company during the term of Employment and under the terms and conditions of this
Agreement. 
 AGREEMENT 

The parties hereto agree as follows: 
  

	1.	 POSITION 

The Executive hereby accepts a position of                (the
“Employment”) of the Company. 
  

	2.	 TERM 

Subject to the terms and conditions of this Agreement, the initial term of the Employment shall
be                years, commencing on                 , 2022 (the “Effective
Date”), until                , 2022 unless terminated earlier pursuant to the terms of this Agreement. Upon expiration of the
initial                -year term, the Employment shall be automatically extended for successive one-year terms unless
either party gives the other party hereto a prior written notice to terminate the Employment prior to the expiration of such one-year term or unless terminated earlier pursuant to the terms of this
Agreement. 
  

	3.	 DUTIES AND RESPONSIBILITIES 

The Executive’s duties at the Company will include all jobs assigned by the Company’s Chief Executive Officer. If the Executive is
the Chief Executive Officer of the Company, the Executive’s duties will include all jobs assigned by the Board of Directors of the Company (the “Board”). 

The Executive shall devote all of his/her working time, attention and skills to the performance of his/her duties at the Company and shall
faithfully and diligently serve the Company in accordance with this Agreement and the guidelines, policies and procedures of the Company approved from time to time by the Board. 

 The Executive shall use his/her best efforts to perform his/her duties hereunder. The
Executive shall not, without the prior written consent of the Board, become an employee of any entity other than the Company and any subsidiary or affiliate of the Company, and shall not be concerned or interested in the business or entity that
competes with that carried on by the Company (any such business or entity, a “Competitor”), provided that nothing in this clause shall preclude the Executive from holding any shares or other securities of any Competitor that is
listed on any securities exchange or recognized securities market anywhere. The Executive shall notify the Company in writing of his/her interest in such shares or securities in a timely manner and with such details and particulars as the Company
may reasonably require. 
  

	4.	 NO BREACH OF CONTRACT 

The Executive hereby represents to the Company that: (i) the execution and delivery of this Agreement by the Executive and the performance
by the Executive of the Executive’s duties hereunder shall not constitute a breach of, or otherwise contravene, the terms of any other agreement or policy to which the Executive is a party or otherwise bound, except for agreements that are
required to be entered into by and between the Executive and any member of the Group pursuant to applicable law of the jurisdiction where the Executive is based, if any; (ii) that the Executive has no information (including, without limitation,
confidential information and trade secrets) relating to any other person or entity which would prevent, or be violated by, the Executive entering into this Agreement or carrying out his/her duties hereunder; and (iii) that the Executive is not
bound by any confidentiality, trade secret or similar agreement (other than this) with any other person or entity except for other member(s) of the Group, as the case may be. 
  

	5.	 LOCATION 

The Executive will be based in                 , China or any
other location as requested by the Company during the term of this Agreement. 
  

	6.	 COMPENSATION AND BENEFITS 

 

	 	a)	 Cash Compensation. The Executive’s cash compensation (inclusive of the
statutory welfare reserves that the Company is required to set aside for the Executive under applicable law) shall be provided by the Company pursuant to Schedule A hereto, subject to annual review and adjustment by the Company or the
compensation committee of the Board (or the Board itself, before the formation of the compensation committee). 

  

	 	b)	 Equity Incentives. To the extent the Company adopts and maintains a share incentive
plan, the Executive will be eligible for participating in such plan pursuant to the terms thereof as determined by the Company. 

  

	 	c)	 Benefits. The Executive is eligible for participation in any standard employee benefit plan of
the Company that currently exists or may be adopted by the Company in the future, including, but not limited to, any retirement plan, and travel/holiday policy. 

	7.	 TERMINATION OF THE AGREEMENT 

 

	 	a)	 By the Company. The Company may terminate the Employment for cause, at any time, without advance
notice or remuneration, if (i) the Executive is convicted or pleads guilty to a felony or to an act of fraud, misappropriation or embezzlement, (ii) the Executive has been negligent or acted dishonestly to the detriment of the Company,
(iii) the Executive has engaged in actions amounting to misconduct or failed to perform his/her duties hereunder and such failure continues after the Executive is afforded a reasonable opportunity to cure such failure, (iv) the Executive
has died, or (v) the Executive has a disability which shall mean a physical or mental impairment which, as reasonably determined by the Board, renders the Executive unable to perform the essential functions of his/her employment with the
Company, even with reasonable accommodation that does not impose an undue hardship on the Company, for more than 180 days in any 12-month period, unless a longer period is required by applicable law,
in which case that longer period would apply. 

 In addition, the Company may terminate the Employment without cause, at
any time, upon one-month prior written notice to the Executive. Upon termination without cause, the Company shall provide the Executive with a severance payment in cash in an amount equal to the
Executive’s 3-month salary at the then current rate. Under such circumstance, the Executive agrees not to make any further claims for compensation for loss of office, accrued remuneration, fees, wrongful
dismissal or any other claim whatsoever against the Company or its subsidiaries or the respective officers or employees of any of them. 
  

	 	b)	 By the Executive. If there is a material and substantial reduction in the
Executive’s existing authority and responsibilities, the Executive may resign upon one-month prior written notice to the Company. In addition, the Executive may resign prior to the expiration of
the Agreement if such resignation is approved by the Board or an alternative arrangement with respect to the Employment is agreed to by the Board. 

  

	 	c)	 Notice of Termination. Any termination of the Executive’s employment under this Agreement
shall be communicated by written notice of termination from the terminating party to the other party. The notice of termination shall indicate the specific provision(s) of this Agreement relied upon in effecting the termination.

  

	8.	 CONFIDENTIALITY AND NONDISCLOSURE 

 

	 	a)	 Confidentiality and Non-disclosure. In the course of
the Executive’s services, the Executive may have access to the Company and/or the Company’s customer/supplier’s and/or prospective customer/supplier’s trade secrets and confidential information, including but not limited to those
embodied in memoranda, manuals, letters or other documents, computer disks, tapes or other information storage devices, hardware, or other media or vehicles, pertaining to the Company and/or the Company’s customer/supplier’s and/or
prospective customer/supplier’s business. All such trade secrets and confidential information are considered confidential. All materials containing any such trade secret and confidential information are the property of the Company and/or the
Company’s customer/supplier and/or prospective customer/supplier, and shall be returned to the Company and/or the Company’s customer/supplier and/or prospective customer/supplier upon expiration or earlier termination of this Agreement.
The Executive shall not directly or indirectly disclose or use any such trade secret or confidential information, except as required in the performance of the Executive’s duties in connection with the Employment, or pursuant to applicable law.

  

	 	b)	 Trade Secrets. During and after the Employment, the Executive shall hold the Trade Secrets in
strict confidence; the Executive shall not disclose these Trade Secrets to anyone except other employees of the Company who have a need to know the Trade Secrets in connection with the Company’s business. The Executive shall not use the Trade
Secrets other than for the benefits of the Company. 

 “Trade Secrets” means information deemed confidential by the Company,
treated by the Company or which the Executive know or ought reasonably to have known to be confidential, and trade secrets, including without limitation designs, processes, pricing policies, methods, inventions, conceptions, technology, technical
data, financial information, corporate structure and know-how, relating to the business and affairs of the Company and its subsidiaries, affiliates and business associates, whether embodied in
memoranda, manuals, letters or other documents, computer disks, tapes or other information storage devices, hardware, or other media or vehicles. Trade Secrets do not include information generally known or released to public domain through no fault
of yours. 
  

	 	c)	 Former Employer Information. The Executive agrees that he or she has not and will not,
during the term of his/her employment, (i) improperly use or disclose any proprietary information or trade secrets of any former employer or other person or entity with which the Executive has an agreement or duty to keep in confidence
information acquired by Executive, if any, or (ii) bring into the premises of Company any document or confidential or proprietary information belonging to such former employer, person or entity unless consented to in writing by such former
employer, person or entity. The Executive will indemnify the Company and hold it harmless from and against all claims, liabilities, damages and expenses, including reasonable attorneys’ fees and costs of suit, arising out of or in connection
with any violation of the foregoing. 

  

	 	d)	 Third Party Information. The Executive recognizes that the Company may have received, and
in the future may receive, from third parties their confidential or proprietary information subject to a duty on the Company’s part to maintain the confidentiality of such information and to use it only for certain limited purposes. The
Executive agrees that the Executive owes the Company and such third parties, during the Executive’s employment by the Company and thereafter, a duty to hold all such confidential or proprietary information in the strictest confidence and not to
disclose it to any person or firm and to use it in a manner consistent with, and for the limited purposes permitted by, the Company’s agreement with such third party. 

This Section 8 shall survive the termination of this Agreement for any reason. In the event the Executive breaches this Section 8,
the Company shall have right to seek remedies permissible under applicable law. 
  

	9.	 INVENTIONS 

  

	 	a)	 Inventions Retained and Licensed. The Executive has attached hereto, as Schedule B, a list
describing all inventions, ideas, improvements, designs and discoveries, whether or not patentable and whether or not reduced to practice, original works of authorship and trade secrets made or conceived by or belonging to the Executive (whether
made solely by the Executive or jointly with others) that (i) were developed by Executive prior to the Executive’s employment by the Company (collectively, “Prior Inventions”), (ii) relate to the Company’ actual or
proposed business, products or research and development, and (iii) are not assigned to the Company hereunder; or, if no such list is attached, the Executive represents that there are no such Prior Inventions. Except to the extent set forth
in Schedule B, the Executive hereby acknowledges that, if in the course of his/her service for the Company, the Executive incorporates into a Company product, process or machine a Prior Invention owned by the Executive or in which he has
an interest, the Company is hereby granted and shall have a nonexclusive, royalty-free, irrevocable, perpetual, worldwide right and license (which may be freely transferred by the Company to any other person or entity) to make, have made, modify,
use, sell, sublicense and otherwise distribute such Prior Invention as part of or in connection with such product, process or machine. 

	 	b)	 Disclosure and Assignment of Inventions. The Executive understands that the Company engages in
research and development and other activities in connection with its business and that, as an essential part of the Employment, the Executive is expected to make new contributions to and create inventions of value for the Company.

 From and after the Effective Date, the Executive shall disclose in confidence to the Company all inventions,
improvements, designs, original works of authorship, formulas, processes, compositions of matter, computer software programs, databases, mask works and trade secrets (collectively, the “Inventions”), which the Executive may solely
or jointly conceive or develop or reduce to practice, or cause to be conceived or developed or reduced to practice, during the period of the Executive’s Employment at the Company. The Executive acknowledges that copyrightable works prepared by
the Executive within the scope of and during the period of the Executive’s Employment with the Company are “works for hire” and that the Company will be considered the author thereof. The Executive agrees that all the Inventions shall
be the sole and exclusive property of the Company and the Executive hereby assign all his/her right, title and interest in and to any and all of the Inventions to the Company or its successor in interest without further consideration. 

 

	 	c)	 Patent and Copyright Registration. The Executive agrees to assist the Company in every proper way
to obtain for the Company and enforce patents, copyrights, mask work rights, trade secret rights, and other legal protection for the Inventions. The Executive will execute any documents that the Company may reasonably request for use in obtaining or
enforcing such patents, copyrights, mask work rights, trade secrets and other legal protections. The Executive’s obligations under this paragraph will continue beyond the termination of the Employment with the Company, provided that the Company
will reasonably compensate the Executive after such termination for time or expenses actually spent by the Executive at the Company’s request on such assistance. The Executive appoints the Secretary of the Company as the Executive’s attorney-in-fact to execute documents on the Executive’s behalf for this purpose. 

 

	 	d)	 Return of Confidential Material. In the event of the Executive’s termination of employment
with the Company for any reason whatsoever, Executive agrees promptly to surrender and deliver to the Company all records, materials, equipment, drawings, documents and data of any nature pertaining to any confidential information or to his/her
employment, and Executive will not retain or take with him or her any tangible materials or electronically stored data, containing or pertaining to any confidential information that Executive may produce, acquire or obtain access to during the
course of his/her employment. 

 This Section 9 shall survive the termination of this Agreement for any reason. In the
event the Executive breaches this Section 9, the Company shall have right to seek remedies permissible under applicable law. 

	10.	 CONFLICTING EMPLOYMENT. 

The Executive hereby agrees that, during the term of his/her employment with the Company, he will not engage in any other employment,
occupation, consulting or other business activity related to the business in which the Company is now involved or becomes involved during the term of the Executive’s employment, nor will the Executive engage in any other activities that
conflict with his/her obligations to the Company without the prior written consent of the Company. 
  

	11.	 NON-COMPETITION AND
NON-SOLICITATION 

 In consideration of the compensation provided to the
Executive by the Company hereunder, the adequacy of which is hereby acknowledged by the parties hereto, the Executive agree that during the term of the Employment and for a period of two years following the termination of the
Employment for whatever reason: 
  

	 	a)	 The Executive will not approach clients, customers or contacts of the Company or other persons or entities
introduced to the Executive in the Executive’s capacity as a representative of the Company for the purposes of doing business with such persons or entities which will harm the business relationship between the Company and such persons and/or
entities; 

  

	 	b)	 unless expressly consented to by the Company, the Executive will not assume employment with or provide services
as a director or otherwise for any Competitor, or engage, whether as principal, partner, licensor or otherwise, in any Competitor; and 

  

	 	c)	 unless expressly consented to by the Company, the Executive will not seek directly or indirectly, by the offer
of alternative employment or other inducement whatsoever, to solicit the services of any employee of the Company employed as at or after the date of such termination, or in the year preceding such termination. 

The provisions contained in Section 11 are considered reasonable by the Executive and the Company. In the event that any such provisions
should be found to be void under applicable laws but would be valid if some part thereof was deleted or the period or area of application reduced, such provisions shall apply with such modification as may be necessary to make them valid and
effective. 
 This Section 11 shall survive the termination of this Agreement for any reason. In the event the Executive breaches this
Section 11, the Executive acknowledges that there will be no adequate remedy at law, and the Company shall be entitled to injunctive relief and/or a decree for specific performance, and such other relief as may be proper (including monetary
damages if appropriate). In any event, the Company shall have right to seek all remedies permissible under applicable law. 
  

	12.	 WITHHOLDING TAXES 

Notwithstanding anything else herein to the contrary, the Company may withhold (or cause there to be withheld, as the case may be) from any
amounts otherwise due or payable under or pursuant to this Agreement such national, provincial, local or any other income, employment, or other taxes as may be required to be withheld pursuant to any applicable law or regulation. 

	13.	 ASSIGNMENT 

This Agreement is personal in its nature and neither of the parties hereto shall, without the consent of the other, assign or transfer this
Agreement or any rights or obligations hereunder; provided, however, that (i) the Company may assign or transfer this Agreement or any rights or obligations hereunder to any member of the Group without such consent, and (ii) in the event
of a merger, consolidation, or transfer or sale of all or substantially all of the assets of the company with or to any other individual(s) or entity, this Agreement shall, subject to the provisions hereof, be binding upon and inure to the benefit
of such successor and such successor shall discharge and perform all the promises, covenants, duties, and obligations of the Company hereunder. 
  

	14.	 SEVERABILITY 

If any provision of this Agreement or the application thereof is held invalid, the invalidity shall not affect other provisions or applications
of this Agreement which can be given effect without the invalid provisions or applications and to this end the provisions of this Agreement are declared to be severable. 
  

	15.	 ENTIRE AGREEMENT 

This Agreement constitutes the entire agreement and understanding between the Executive and the Company regarding the terms of the Employment
and supersedes all prior or contemporaneous oral or written agreements concerning such subject matter. The Executive acknowledges that he has not entered into this Agreement in reliance upon any representation, warranty or undertaking which is not
set forth in this Agreement. Any amendment to this Agreement must be in writing and signed by the Executive and the Company. 
  

	16.	 GOVERNING LAW 

This Agreement shall be governed by and construed in accordance with the law of the State of New York, USA, without regard to the conflicts of
law principles. 
  

	17.	 AMENDMENT 

This Agreement may not be amended, modified or changed (in whole or in part), except by a formal, definitive written agreement expressly
referring to this Agreement, which agreement is executed by both of the parties hereto. 
  

	18.	 WAIVER 

Neither the failure nor any delay on the part of a party to exercise any right, remedy, power or privilege under this Agreement shall operate
as a waiver thereof, nor shall any single or partial exercise of any right, remedy, power or privilege preclude any other or further exercise of the same or of any right, remedy, power or privilege, nor shall any waiver of any right, remedy, power
or privilege with respect to any occurrence be construed as a waiver of such right, remedy, power or privilege with respect to any other occurrence. No waiver shall be effective unless it is in writing and is signed by the party asserted to have
granted such waiver. 

	19.	 NOTICES 

All notices, requests, demands and other communications required or permitted under this Agreement shall be in writing and shall be deemed to
have been duly given and made if (i) delivered by hand, (ii) otherwise delivered against receipt therefor, (iii) sent by a recognized courier
with next-day or second-day delivery to the last known address of the other party; or (iv) sent
by e-mail with confirmation of receipt. 
  

	20.	 COUNTERPARTS 

This Agreement may be executed in any number of counterparts, each of which shall be deemed an original as against any party whose signature
appears thereon, and all of which together shall constitute one and the same instrument. This Agreement shall become binding when one or more counterparts hereof, individually or taken together, shall bear the signatures of all of the parties
reflected hereon as the signatories. Photographic copies of such signed counterparts may be used in lieu of the originals for any purpose. 
  

	21.	 NO INTERPRETATION AGAINST DRAFTER 

Each party recognizes that this Agreement is a legally binding contract and acknowledges that such party has had the opportunity to consult
with legal counsel of choice. In any construction of the terms of this Agreement, the same shall not be construed against either party on the basis of that party being the drafter of such terms. 

[Remainder of this page has been intentionally left blank.] 

 IN WITNESS WHEREOF, this Agreement has been executed as of the date first written above. 

 

			
	QuantaSing Group Limited
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	Executive
		
	Signature:	 	  

	Name:	 	

 Schedule A 

Cash Compensation 

 Schedule B 

List of Prior InventionsExhibit 10.1

 

SETTLEMENT AGREEMENT

 

This Settlement Agreement
(this “Agreement”) is made and entered into as of December 15, 2022 (the “Effective Date”), by and between Cosmos
Group Holdings, Inc., a Nevada corporation (the “Company”) and Lee Ying Chiu Herbert, an individual (“Dr. Lee”).
The Company and Dr. Lee are hereinafter collectively referred to as the “Parties.”

RECITALS

 

WHEREAS, on June
17, 2021, the Company entered into a Share Acquisition Agreement (the “Share Acquisition Agreement”), by and among the Company,
Massive Treasure Limited (“Massive Treasure”), a British Virgin Islands corporation and holding company of numerous operating
subsidiaries, and the holders of ordinary shares of Massive Treasure, pursuant to which the Company offered to issue 1,078,269,470 shares
of common stock of the Company in consideration for all the issued and outstanding shares in Massive Treasure;

 

WHEREAS, Dr. Lee,
our former director and current controlling shareholder, was the beneficial holder of 47,500 common shares, or 95%, of the issued and
outstanding shares of Massive Treasure;

 

WHEREAS, the Company
also agreed to issue 55,641,014 shares to complete the acquisitions of 12 business entities which Massive Treasure has signed;

 

WHEREAS, these acquisitions
consummated on September 17, 2021, and as of the date of the Effective Date, the Company has not issued to Dr. Lee 800,000,000 shares
of common stock of the Company (the “Unissued Securities”);

 

WHEREAS, the Company
and Dr. Lee wish to fully settle and discharge all claims and damages, whether known or unknown, and whether anticipated or unanticipated,
which are or may be the subject of any lawsuit or any other claim which has arisen or which may arise between the Parties arising from
the Unissued Securities upon the terms and conditions set forth herein.

 

NOW THEREFORE, in consideration
of the foregoing recitals and for good and valuable mutual consideration, the receipt of which is hereby acknowledged, the Parties, intending
to be legally bound, do hereby agree to the following terms and conditions:

 

AGREEMENT

 

1.                Settlement
Consideration. As satisfaction and performance in full of all obligations due and payable by and among the Parties (including the
Unissued Securities and any other payments or obligations due pursuant to the Share Acquisition Agreement):

 

(a)              The
Company shall issue to Dr. Lee or his designees Four Hundred Million (400,000,000) shares of the Company’s common stock, at a per
share price equal to $0.001 (the “Settlement Securities”), immediately upon receipt of approval from all applicable authorities
to the Corporation’s increase in authorized capital, and such Settlement Securities shall be free of all liens, pledge, charge,
claim, restriction on transfer, mortgage, security interest or other encumbrance other than statutory liens for liabilities not yet due
and payable and transfer restrictions imposed by applicable securities laws. Such securities shall not be subject to any pre-emptive
rights or rights of first refusal created by any agreement or understanding to which the Company is a party.

 

 

 

 

    	 	1	 

     

    

 

(b)              The
Company shall cause the transfer to Dr. Lee or his designees all  the assets and liabilities of following entities as such assets and
liabilities are described in the financial statements of the Company as of November 30, 2022:

 

		i)	Coinllectibles Limited, (BVI company number: 2067445), a company incorporated in the British Virgin
Islands, with registered address at Mandar House, 3rd Floor, Johnson’s Ghut, Tortola, British Virgin Islands and its branch,
(Singapore company registration number: T21FC0080G);
		ii)	Coinllectibles (HK) Limited, (Hong Kong business registration number: 72228307), a company
incorporated in Hong Kong, with registered address at 7/F, K11 Atelier Victoria Dockside, 18 Salisbury Road, Tsim Sha Tsui, Hong Kong;
and
		iii)	Coinllectibles Wealth Limited, (Hong Kong business registration number: 70756483), a
company incorporated in Hong Kong, with registered address at 7/F, K11 Atelier Victoria Dockside, 18 Salisbury Road, Tsim Sha Tsui, Hong
Kong (collectively, the “Disposal Group”).

 

(c)              
The inventories and accounts payables amounting to $3,078,550 and $1,991,520 respectively, will be re-assigned from Coinllectibles
Limited to Coinllectibles Private Limited.

 

(d)              
The investment in Grand Gallery Limited, (Hong Kong business registration number: 72191061), a company incorporated
in Hong Kong, with registered address at Flat 15, 1/F, Prudential Centre, 216-228 Nathan Road, Hong Kong, will be transferred from Coinllectibles
Wealth Limited to Massive Treasure.

 

(e)              
The blockchain technology, including the knowledge in minting Digital Ownership Token (“DOT”), will be retained by the Disposal
Group. The Company or its designees will not retain any intellectual property rights related solely to blockchain technology. For clarity,
as between the Parties, the Company shall retain all intellectual property rights related to the operation of its e-commerce and web platforms.

 

(f)               
The trade name “Coinllectibles” will be retained by the Company and its designees and will be used for purchasing arts
and collectibles, and sales and promotion.

 

(g)              
The Company shall timely file all forms, reports or other documents required by the Securities and Exchange Commission to be filed
by it and on behalf of Dr. Lee in connection with the transactions contemplated herein, including all Section 16 filings; provided, however,
that the Company shall not be liable for any delinquent filings or failures to file arising from Dr. Lee’s failure to reasonably
cooperate with the Company in the preparation, review and filing of such forms, reports or documents.

 

2.                Going Forward Business Transactions. The Parties anticipate that the Disposal Group will continue to partner with the Company
in the purchase and sale of “DOTs” of arts and collectibles. In such event, the Parties agree:

 

(a)              
Business transactions between the Company and the Disposal Group be deemed a related party transaction with the Disposal Group.
By way of example, purchasers of arts and collectibles may elect to obtain the physical item from the Company that is listed on the Company’s
website and/or receive the corresponding “DOT” issued by a member of the Disposal Group. If the purchaser elects to receive
the “DOT”, the Company agrees to engage a member of the Disposal Group to mint such “DOT”.

 

(b)              The
Company will no longer be entitled to any transaction fee income generated from sales of arts and collectibles in secondary market through
blockchain technology. The titleship of transaction fee income will be retained by the Disposal Group.

 

 

 

    	 	2	 

     

    

 

(c)              The
inventories (i.e. arts and collectibles) of the Company may be placed on a website operated by the Disposal Group for sale. If the item
is sold from website operated by the Disposal Group, an agency fee will be charged by the Disposal Group as the sales agent of the Company.

 

3.                Releases.

 

(a)              
Effective upon receipt by each Party of all consideration due to him pursuant to Section 1 hereof, the Parties, on behalf of itself
and each of its representatives, agents, affiliates, successors, predecessors, attorneys, heirs, executors, administrators, agents and
assigns, and each and all of them, fully release and forever discharge each other, each of its former and current principals, officers,
members, managers, directors, shareholders, employees, representatives, agents, parents, subsidiaries, affiliates, successors, predecessors,
attorneys, heirs, executors, administrators, agents and assigns, and each and all of them, as applicable, of and from any and all claims,
debts, rights, liabilities, damages, costs, expenses, attorneys' fees, causes of action, lawsuits, arbitrations, loss of use and loss
of services of every kind, nature, or description, whether known or unknown, suspected or unsuspected, which previously existed, now exist,
or may exist hereafter, accruing, occurring or arising from or in any way related to the Share Acquisition Agreement, the transfer of
the Disposal Group, the operation and business of the Company and the Disposal Group (including
without limitation, all amounts due from the Disposal Group to the Company), and the performance and other conduct of the Parties
in connection with the operation and business of the Company and or its subsidiaries, whether based on tort, contract, statute, insurance
policy, or other theory of recovery, and whether for compensatory or punitive damages, including attorneys’ fees and costs, as well
as statutory sanctions, which the Parties ever had against each other or now have against each other including, but not limited to, defamation,
intentional infliction of emotional distress, interference with contract, impairment of economic opportunity, breach of promise, conspiracy,
fiduciary breach, declaratory relief, prohibited transactions, fraud, misrepresentation, and retaliation. All of the foregoing released
matters are hereinafter collectively referred to as the “Released Matters.”

 

(b)              The
releases set forth above are not intended to, and shall not, extend to or otherwise release or discharge any rights, privileges, benefits,
duties, or obligations of any of the Parties by reason of, or otherwise arising under, (i) this Agreement, (ii) Dr. Lee’s right
to seek indemnification from the Company pursuant to this Agreement or any existing indemnification agreement with the Company, or (iii)
with regard to any director and officer insurance policy covering Dr. Lee.

 

(c)              The
Parties, and each of them, acknowledge that they may hereafter discover facts different from, or in addition to, those which they now
believe to be true with respect to any and all of the Released Matters, including without limitation, unknown or unanticipated claims
which, if known or anticipated, on the date of execution of this Agreement, might have materially affected such Party's decision to execute
this Agreement. Each of the Parties acknowledges and agrees that by reason of the mutual general release set forth above, they are assuming
the risk of such unknown claims and agree that this Agreement shall apply thereto. Nevertheless, the Parties hereto, and each of them,
hereby agree that each of the releases set forth above shall be and remain effective in all respects, notwithstanding the discovery of
such different or additional facts.

 

4.                Civil
Code Section 1542. The Parties represent that they are not aware of any disputes or causes of action they have other than the disputes
and causes of action that are released by this Agreement. The Parties expressly agree and understand that this Agreement is a full and
final release of all claims of every nature and kind, known or unknown, suspected or unsuspected, past, present, or future, of all Released
Matters, and execution of this Agreement by the Parties operates as a complete bar and defense against any and all claims that may be
made by the Parties with regard to the Released Matters, and that, should any proceeding be instituted with respect to matters released
herein, this Agreement shall be deemed in full and complete accord, satisfaction and settlement of any such released matter and sufficient
basis for its dismissal. The Parties have read and fully understand the statutory language of Section 1542 of the California Civil Code
and on that basis expressly and specifically waive all rights under said statute or any analogous state law or federal law or regulation.
Section 1542 of the California Civil Code reads as follows:

 

A GENERAL RELEASE
DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE,
WHICH IF KNOWN BY HIM OR HER MUST HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR.

 

The Parties expressly waive
any rights they may have under it, as well as under any other statute or common law principles of similar effect. Each Party represents
further that as of the date of execution of this Agreement, it has not brought any claims of the type released against any of the released
parties set forth above.

 

 

 

    	 	3	 

     

    

 

5.                Warranty
of Non-Assignment. Each of the Parties hereby warrants, represents and agrees that it is the sole and lawful owner of all right,
title and interest in and to all of the respective Released Matters which are referred to in the mutual general release set forth above
and that it has not heretofore voluntarily, by operation of law or otherwise, assigned or transferred or purported to assign or transfer
to any person whomsoever any such Released Matters, or any part or portion thereof. The Parties shall not assign, encumber or otherwise
transfer to any party or person any such Released Matters, or any part or portion thereof.

 

6.                No Admission of Liability. It is specifically understood and agreed that this Agreement constitutes a complete compromise
and settlement of disputed claims, and that neither the execution of this Agreement nor the payment of any monies hereunder is to be deemed
an admission of liability by the Parties or any of them. Each Party acknowledges that this Agreement is not, and cannot be construed as,
any admission of fault by the other Parties.

 

7.                Indemnification.
The Company and its subsidiaries (collectively, the “Indemnifying Parties”) shall jointly and severally indemnify Dr. Lee
(the “Indemnitee”) in accordance with the provisions of this Section 7 if Indemnitee is, or is threatened to be made, a party
to or a participant in any Proceeding. Pursuant to this Section 7, Indemnitee shall be indemnified against all Expenses, judgments, fines
and amounts paid in settlement actually incurred by Indemnitee or on his behalf in connection with such Proceeding or any claim, issue
or matter therein, if Indemnitee acted in good faith and in a manner he reasonably believed to be in or not opposed to the best interests
of the Company and, in the case of a criminal proceeding had no reasonable cause to believe that his conduct was unlawful. The Indemnitees
hereby agree and acknowledge that Indemnitee has acted in good faith and in a manner Indemnitee reasonably believes to be in the best
interest of the Company at all times during the Consulting Agreement and thereafter. “Proceeding” shall include any
threatened, pending or completed action, suit, arbitration, alternate dispute resolution mechanism, investigation, inquiry, administrative
hearing or any other actual, threatened or completed proceeding, whether brought in the right of the Company or otherwise and whether
of a civil, criminal, administrative or investigative nature, including any appeal therefrom, in which Indemnitee was, is or will be
involved as a party, a potential party, a non-party witness or otherwise by reason of the fact that Indemnitee is or was a director,
officer or shareholder of the Company, by reason of any action taken by him or of any action or inaction on his part while acting as
director or officer of the Company, or by reason of the fact that he is or was serving at the request of the Company as a director, trustee,
general partner, manager, member, officer, employee or agent of another corporation, partnership, joint venture, trust or fiduciary of
the Company or any other enterprise, in each case whether or not serving in such capacity at the time any liability or expense is incurred
for which indemnification, reimbursement, or advancement of expenses can be provided under this Agreement. “Expenses”
shall include all attorneys’ fees, retainers, court costs, transcript costs, fees of experts, witness fees, travel expenses, duplicating
costs, printing and binding costs, telephone charges, postage, delivery service fees, and all other disbursements or expenses of the
types customarily incurred in connection with prosecuting, defending, preparing to prosecute or defend, investigating, being or preparing
to be a witness in, or otherwise participating in, a Proceeding. Expenses also shall include Expenses incurred in connection with any
appeal resulting from any Proceeding, including without limitation the premium, security for, and other costs relating to any cost bond,
supersedeas bond, or other appeal bond or its equivalent.

 

(a)              
Advancement of Expenses. The Indemnifying Parties shall, jointly and severally, advance all Expenses incurred by Indemnitee
in connection with the investigation, defense, settlement or appeal of any civil or criminal action or Proceeding referenced in Section
7 hereof (but not amounts actually paid in settlement of any such action or Proceeding). Indemnitee hereby undertakes to repay such amounts
advanced only if, and to the extent that, it shall ultimately be determined that Indemnitee is not entitled to be indemnified by the Company
as authorized hereby or elsewhere. The advances to be made hereunder shall be paid by the Indemnifying Parties to Indemnitee within ten
(10) days following delivery of a written request therefor by Indemnitee to the Indemnifying Parties.

 

(b)              
Notice/Cooperation by Indemnitee. Indemnitee shall give the Indemnifying Parties notice in writing as soon as practicable
of any claim made against Indemnitee for which indemnification will or could be sought under this Agreement. Notice to the Indemnifying
Parties shall be directed the Company at the address shown on the signature page of this Agreement (or such other address as the Company
shall designate in writing to Indemnitee). Notice shall be deemed received as set forth in Section 11(o) hereof. In addition, Indemnitee
shall give the Indemnifying Parties such information and cooperation in the defense of any pending, threatened or completed action or
Proceeding as shall be within Indemnitee's power, except that Indemnitee shall not be required to give the Indemnifying Parties information
that is privileged or confidential as to Indemnitee. The giving of notice required under this Section 7(b) shall be a condition precedent
to Indemnitee's right to be indemnified under this Agreement if the failure to give such notice materially prejudices any right, claim
or defense available to the Indemnifying Parties.

 

 

 

 

    	 	4	 

     

    

 

(c)              
Procedure. Any indemnification provided for in Section 7 shall be made no later than forty-five (45) days after receipt
of the written request of Indemnitee. If a claim under this Agreement, under any statute, or under any provision of the Consulting Agreement
providing for indemnification, is not paid in full by the Indemnifying Parties within forty-five (45) days after a written request for
payment thereof has first been received by the Indemnifying Parties, Indemnitee may, but need not, at any time thereafter bring an action
against the Indemnifying Parties to recover the unpaid amount of the claim, and Indemnitee shall also be entitled to be paid for the Expenses
(including attorneys' fees) of bringing such action. It shall be a defense to any such action (other than an action brought to enforce
a claim for Expenses incurred in connection with any action or Proceeding in advance of its final disposition) that Indemnitee has not
met the standards of conduct which make it permissible under applicable law for the Indemnifying Parties to indemnify Indemnitee for the
amount claimed, but the burden of proving such defense shall be on the Indemnifying Parties, and Indemnitee shall be entitled to receive
interim payments of Expenses pursuant to Subsection 7(a) unless and until such defense may be finally adjudicated by court order or judgment
from which no further right of appeal exists. It is the Parties' intention that if the Indemnifying Parties contest Indemnitee's right
to indemnification, the question of Indemnitee's right to indemnification shall be for the court to decide on a de novo basis, and neither
the failure of the Indemnifying Parties (including the Board of Directors or officers of the Company, any committee or subgroup of the
Board of Directors or officers, independent legal counsel, or the shareholders of the Company) to have made a determination that indemnification
of Indemnitee is proper in the circumstances because Indemnitee has met the applicable standard of conduct required by applicable law,
nor an actual determination by the Indemnifying Parties (including the Board of Directors or officers of the Company, any committee or
subgroup of the Board of Directors or officers, independent legal counsel, or the shareholders of the Company) that Indemnitee has not
met such applicable standard of conduct, shall create a presumption that Indemnitee has or has not met the applicable standard of conduct.

 

(d)              
Notice to Insurers. If, at the time of the receipt of a notice of a claim pursuant to Section 7(b) hereof, the Company has
director and officer liability insurance in effect, the Indemnifying Parties shall give prompt notice of the commencement of such Proceeding
to the insurers in accordance with the procedures set forth in the respective policies. The Indemnifying Parties shall thereafter take
all necessary or desirable action to cause such insurers to pay, on behalf of the Indemnitee, all amounts payable as a result of such
Proceeding in accordance with the terms of such policies.

 

(e)              
Selection of Counsel. In the event the Indemnifying Parties shall be obligated under Section 7 hereof to pay the Expenses
of any Proceeding against Indemnitee, the Indemnifying Parties, if appropriate, shall be entitled to assume the defense of such Proceeding,
with counsel approved by Indemnitee, which approval shall not be unreasonably delayed, upon the delivery to Indemnitee of written notice
of its election so to do. After delivery of such notice, approval of such counsel by Indemnitee and the retention of such counsel by the
Indemnifying Parties, the Indemnifying Parties will not be liable to Indemnitee under this Agreement for any fees of counsel subsequently
incurred by Indemnitee with respect to the same Proceeding, provided that (i) Indemnitee shall have the right to employ his or her counsel
in any such Proceeding at Indemnitee's expense; and (ii) if (A) the employment of counsel by Indemnitee has been previously authorized
by the Indemnifying Parties, (B) Indemnitee shall have reasonably concluded that there may be a conflict of interest between the Indemnifying
Parties and Indemnitee in the conduct of any such defense or (C) the Indemnifying Parties shall not, in fact, have employed counsel to
assume the defense of such Proceeding, then the fees and Expenses of Indemnitee's counsel shall be at the expense of the Indemnifying
Parties.

 

(f)               
Settlement of Claims. The Indemnifying Parties shall not settle any claim, action or Proceeding (in whole or in part) which
would impose any Expense, judgment, fine, penalty or limitation on Indemnitee without the Indemnitee's prior written consent, which consent
shall not be unreasonably delayed or withheld.

 

8.                Additional
Indemnification Rights; Non-exclusivity.

 

(a)              
Scope. Notwithstanding any other provision of this Agreement, the Indemnifying Parties hereby agree to, jointly and severally,
indemnify Indemnitee to the fullest extent permitted by law, notwithstanding that such indemnification is not specifically authorized
by the other provisions of this Agreement, the Consulting Agreement, or by statute. In the event of any change after the date of this
Agreement, in any applicable law, statute or rule which expands the right of a Nevada corporation or the Indemnifying Parties to indemnify
a member of its board of directors, an officer or shareholder, such changes shall be, ipso facto, within the purview of Indemnitee's rights
and the obligations of the Indemnifying Parties, under this Agreement. In the event of any change in any applicable law, statute or rule
which narrows the right of a Nevada corporation or the Indemnifying Parties to indemnify a member of its Board of Directors or an officer
or shareholder, such changes, to the extent not otherwise required by such law, statute or rule to be applied to this Agreement, shall
have no effect on this Agreement or the Parties’ rights and obligations hereunder.

 

 

 

 

    	 	5	 

     

    

 

(b)              
Non-exclusivity. The indemnification and advancement provided by this Agreement shall not be deemed exclusive of any rights
to which Indemnitee may be entitled under any vote of shareholders/members or disinterested directors, the Nevada Revised Statutes, California
Corporations Code or otherwise, both as to action in Indemnitee's official capacity and as to action in another capacity while holding
such office. The indemnification and advancement provided under this Agreement shall continue as to Indemnitee for any action taken or
not taken while serving in an indemnified capacity even though he may have ceased to serve in such capacity at the time of any action
or other covered Proceeding.

 

(c)              
Partial Indemnification. If Indemnitee is entitled under any provision of this Agreement or otherwise to indemnification
by the Indemnifying Parties for some or a portion of the Expenses, judgments, fines or penalties actually or reasonably incurred by him
in the investigation, defense, appeal or settlement of any civil or criminal action or Proceeding, but not, however, for the total amount
thereof, the Indemnifying Parties shall nevertheless indemnify Indemnitee for the portion of such Expenses, judgments, fines or penalties
to which Indemnitee is entitled.

 

(d)              
Mutual Acknowledgment. The Parties acknowledge that in certain instances, applicable law or public policy may prohibit the
Company from indemnifying its directors, managers, officers and members under this Agreement or otherwise. Indemnitee understands and
acknowledges that the Company has undertaken or may be required in the future to undertake with the Securities and Exchange Commission
to submit the question of indemnification to a court in certain circumstances for a determination of the Company's right under public
policy to indemnify Indemnitee.

 

9.                Directors'
and Officers' Liability Insurance. In the event the Indemnifying Parties shall obtain or maintain one or more director and officer
liability insurance policy or policies: (i) Indemnitee shall be named as an insured in such a manner as to provide Indemnitee with the
same rights and benefits as are accorded to the most favorably insured of the Company's directors, officers, and key employees; and (ii)
insurance coverage shall be allocated so that claims against Indemnitee shall be satisfied prior to claims against the Indemnifying Parties.

 

10.             
Representations and Warranties. Each of the Parties expressly represents and warrants for itself and himself to the other
that:

 

(a)              
it or he has the power, capacity and authority to execute, deliver and perform this Agreement and to consummate the transactions
contemplated hereby and on behalf of all whom might claim through it or him to bind them to the terms and conditions of this Agreement;

 

(b)              
the execution and delivery by it or him of this Agreement, and the performance by it or him of its or his obligations hereunder,
have been duly and validly authorized by all action on its or his part;

 

(c)              
this Agreement has been duly and validly executed and delivered by it or him and constitutes its or his legal, valid and binding
agreement, enforceable in accordance with its terms, except as such enforceability may be limited by bankruptcy, moratorium, insolvency,
reorganization, fraudulent conveyance or other laws affecting the enforcement of creditors’ rights generally or by general equitable
principles, including without limitation, those limiting the availability of specific performance, injunctive relief and other equitable
remedies and those providing for equitable defenses;

 

(d)              
it or he is not entering into this Agreement in reliance upon any express or implied representation, agreement, or understanding
of any kind by the others, or any person representing (or purporting to represent) any of the other Parties, or any other person, except
as expressly stated in this Agreement and the other Parties shall not directly or indirectly be liable or responsible for the truth, accuracy,
or enforcement of any representations, agreements, or understandings which may now or hereafter exist between any of the Parties and any
other Non-Party person and/or entity; and

 

(e)              
it or he has signed the Agreement voluntarily, without any duress or undue influence on the part, or on behalf, of any Party.

 

 

 

 

    	 	6	 

     

    

 

11.             
Confidentiality. Dr. Lee agrees that Dr. Lee and the Disposal Group will not, except when required by applicable law or
order of a court, at any time, disclose directly or indirectly to any person or entity, or copy, reproduce or use, any Trade Secrets (as
defined below) or Confidential Information (as defined below) or other information treated as confidential by the Company known, learned
or acquired by the Disposal Group or Dr. Lee during the period the Disposal Group was consolidated with the Company. For purposes of this
Agreement, "Confidential Information" shall mean any and all Trade Secrets, knowledge, data or know-how of the Company, any
of its affiliates or of third parties in the possession of the Company or any of its affiliates, and any nonpublic technical, training,
financial and/or business information treated as confidential by the Company or any of its affiliates, whether or not such information,
knowledge, Trade Secret or data was conceived, originated, discovered or developed by Dr. Lee or the Disposal Group hereunder. For purposes
of this Agreement, "Trade Secrets" shall include, without limitation, any formula, concept, pattern, processes, designs, device,
software, systems, list of customers, training manuals, marketing or sales or service plans, business plans, marketing plans, financial
information, or compilation of information which is used in the Company's business or in the business of any of its affiliates. Any information
of the Company or any of its affiliates which is not readily available to the public shall be considered to be a Trade Secret unless the
Company advises Dr. Lee in writing otherwise. Dr. Lee acknowledges that all of the Confidential Information is proprietary to the Company
and is a special, valuable and unique asset of the business of the Company, and that Dr. Lee’s past, present and future engagement
by the Company has created, creates and will continue to create a relationship of confidence and trust between Dr. Lee and the Company
with respect to the Confidential Information. Furthermore, Dr. Lee shall immediately notify the Company of any information which comes
to its attention which might indicate that there has been a loss of confidentiality with respect to the Confidential Information. In such
event, Dr. Lee shall take all reasonable steps within its power to limit the scope of such loss.

 

12.             
Return of the Company’s Proprietary Materials. Dr. Lee agrees to deliver promptly to the Company within three business
days of the Effective Date, all documents, records, artwork, designs, data, drawings, flowcharts, listings, models, sketches, apparatus,
notebooks, disks, notes, copies and similar repositories of Confidential Information and any other documents of a confidential nature
belonging to the Company, including all copies, summaries, records, descriptions, modifications, drawings or adaptations of such materials
which Dr. Lee or the Disposal Group may then possess or have under its control.

 

13.             
Miscellaneous Provisions

 

(a)              
Future Suits. If any Party hereafter commences any action or proceeding against the other based upon any of the claims released
by this Agreement, the provisions of this Agreement shall be deemed breached and such non-breaching Party shall be entitled to recover
attorneys' fees and other costs of suit sustained by him, her or it due to such action or proceeding and shall be indemnified by the other
for such fees and costs. This Agreement may be pleaded by such non-breaching Party as a defense, counterclaim or cross-claim in any such
action or proceeding.

 

(b)              
No Disparagement. Each of the Parties agrees that it shall not knowingly and intentionally make disparaging and damaging
comments about the other, including its officers, managers, directors, employees, investors, shareholders, members, administrators, affiliates,
divisions, subsidiaries and predecessor and successor corporations, as applicable.

 

(c)              
Survival. All representations, warranties and covenants of the Parties shall survive the execution of this Agreement.

 

(d)              
No Waiver. This Agreement (including all exhibits thereto) may not be changed, waived, discharged, or terminated orally
or in writing, except by a writing signed by the Parties and the observance of any such term may be waived (either generally or in a particular
instance either retroactively or prospectively) by a writing signed by the Party against whom such waiver is to be asserted.

 

(e)              
No Precedential Value. The settlement reflected in this Agreement shall be without precedential value. It shall not be used
as evidence, or in any other manner, in any court or other dispute resolution proceeding, to create, prove, or interpret the obligations
of the Parties to each other or to any other person or entity except for those already stipulated in this Agreement.

 

 

 

 

    	 	7	 

     

    

 

(f)               
Further Assurances. Each Party agrees that it will, from time to time after the date of this Agreement, execute and deliver
such other certificates, documents and instruments and take such other action as may be reasonably requested by the other Party to carry
out the actions and transactions contemplated by this Agreement.

 

(g)              
Entire Agreement. This Agreement constitutes the entire agreement by and among the Parties, and any prior or contemporaneous
agreements, understandings, promises, representations, warranties and covenants, whether written or oral, or whether expressed, implied
or apparent are hereby deemed merged into and made a part of this Agreement. The terms of this Agreement are contractual and not merely
a recital.

 

(h)              
Successors and Assigns. This Agreement shall bind, and inure to the benefit of the directors, officers, shareholders, employees,
agents, partners, representatives, attorneys, parent and affiliated corporations, subsidiaries, divisions, insurers and reinsurers, joint
venturers, predecessors, successors, beneficiaries, grantees, vendees, transferees, assigns, heirs, executors, administrators, trustees,
and estates of each Party, as applicable.

 

(i)                
Expenses; Taxes. Each Party shall bear its own costs and expenses relating to the transactions contemplated in this Agreement
including, without limitation, costs and expenses of its respective counsels as well as taxes levied on each part as a result of the execution
and performance of this Agreement.

 

(j)                
Counterparts. This Agreement may be executed in any number of counterparts by the Parties hereto, each of which shall constitute
an original but all together shall constitute but one and the same instrument. Confirmation of execution by telecopy or telefax of a facsimile
signature page shall be binding upon that Party so confirming.

 

(k)              
No Other Contracts. There are no other contracts, instruments, documents, agreements, understandings, facts, or rights of
any person which could alter the literal meaning or effect of this Agreement.

 

(l)                
No Other Conditions. There are no conditions precedent or subsequent to the obligations of or release or waivers by the
Parties, except as expressly stated in this Agreement.

 

(m)            
Governing Law. This Agreement shall be construed in accordance with the laws of the State of California without regard to
conflict of laws principles. If any action is filed to enforce or interpret any of the terms or provisions of this Agreement or any of
the other documents executed in connection with this Agreement, or otherwise, the Parties agree that the appropriate venue shall be a
state or federal court of competent jurisdiction located in Los Angeles County, State of California.

 

(n)              
Construction. This Agreement has been negotiated at arm’s length and between and among persons or entities sophisticated
and knowledgeable in the matters dealt with in this Agreement. In addition, this Agreement was drafted by experienced and knowledgeable
legal counsel for each of the Parties. The provisions of this Agreement shall be interpreted in a reasonable manner to effect the purposes
of the Parties and this Agreement.

 

 

 

 

    	 	8	 

     

    

 

(o)              
Notices. All notices, demands, consents, approvals, requests and other communications required or permitted hereby shall
be in writing and shall be deemed to have been duly and sufficiently given only if (a) personally delivered with proof of delivery thereof
(any notice or communication so delivered being deemed to have been received at the time so delivered), or (b) sent by Federal Express
(or other similar overnight courier) (any notice or communication so delivered being deemed to have been received only when delivered),
(c) sent by telecopier or facsimile (any notice or communication so delivered being deemed to have been received if a copy is also delivered
by one of the other means of delivery and shall be deemed to have been received (i) on the business day so sent, if so sent prior to 4:00
p.m. (based upon the recipient's time) of the business day so sent, and (ii) on the business day following the day so sent, if so sent
on a non-business day or on or after 4:00 p.m. (based upon the recipient's time) of the business day so sent (unless actually received
by the addressee on the day so sent)), or (d) sent by United States registered or certified mail, postage prepaid, at a post office regularly
maintained by the United States Postal Service (any notice or communication so sent being deemed to have been received only when delivered),
in any such case addressed to the respective Parties as follows:

 

If to Dr. Lee:
 C/o _______________

_____________________
 _____________________
 Facsimile: ____________     
 
 

If to the Company:

Cosmos Group Holdings Inc.

37th Floor, Singapore Land Tower

50 Raffles Place, Singapore 048623

Attn: President
 Facsimile: ___________________  

 

or to such other
address or party as the other Party may have furnished to the other in writing in accordance herewith, except that notices of change of
address or addresses shall only be effective upon receipt.

 

(p)              
Voluntary Execution of Agreement. This Agreement is executed voluntarily and without any duress or undue influence on the
part or behalf of the Parties hereto, with the full intent of releasing all of the Released Matters. Each Party acknowledge for itself
that: (a) he or it has read this Agreement; (b) he or it has been represented in the preparation, negotiation, and execution of this Agreement
by legal counsel of his or its own choice or that he or it has voluntarily declined to seek such counsel; (c) he or it understands the
terms and consequences of this Agreement and of the release it contains; and (d) he or it is fully aware of the legal and binding effect
of this Agreement.

 

 

 

 

 

 

[Signature Page Follows]

 

 

 

    	 	9	 

     

    

 

IN WITNESS WHEREOF, the Parties
have executed this Agreement on the date first set forth above.

 

	
    Cosmos Group Holdings Inc.

    a Nevada corporation

     

     

    By: /s/ Man Chung Chan                                            

    Man Chung Chan 

    Chief Executive Officer

     

     
	
     

     

     

     

    /s/ Lee Ying Chiu Herbert                          
 Lee
    Ying Chiu Herbert

 

 

 

    	 	10

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