Document:

EXHIBIT 4.22

 

Exclusive Technical Service Agreement

 

This Exclusive Technical Service Agreement
(this “Agreement”) is entered into on May 27, 2015 in Shanghai of China between:

 

Party A: 

 

Shanghai Acorn Network Technology Development Co., Ltd.

 

Domicile: A-46, No.55, Lane 1135, Jiasong Zhong Road, Huaxin
Town, Qingpu District, Shanghai

 

Party B: 

 

Acorn Information Technology (Shanghai) Co., Ltd.

 

Domicile: Room 669-05, Building 2, No.351, Guoshoujing Road,
Zhangjiang Hi-Tech Park, Shanghai

 

Either Party A or Party B will be referred to as “a Party”
individually herein and collectively they will be referred to as “the Parties”.

 

Whereas 

 

	(1)	Party A is a limited liability company organized and validly existing as a corporate legal person under Chinese law; 

 

	(2)	Party B is a wholly foreign owned enterprise organized and validly existing as a corporate legal person under Chinese law; and is mainly engaged in computer hardware and software development, information technology data processing, and technology consultancy services; 

 

	(3)	Party A agrees to accept from Party B, and Party B agrees to provide to Party A technical services according to the conditions set forth herein; 

 

Therefore, in consideration of the foregoing premises
and the mutual promises set forth below, the Parties agree as follows:

 

	1.	Technical Services

 

Party B agrees to provide exclusive technical services
and support to Party A in accordance with the terms hereof, by using its own human resources and technical expertise. During the
term of this Agreement, the scope of Party B’s technical services to Party A shall include but not limited to the following:

 

	(1)	provide advice and assistance to Party A with respect to the recruiting, transferring and managing of Party A’s employees; 

 

	(2)	train Party A’s employees; 

 

	(3)	provide computer hardware and software; 

 

	(4)	provide technical services in connection with the well-known brand names owned by Party B; 

 

	(5)	provide business counseling for Party A; and 

 

	(6)	provide other services at Party A’s request. 

 

	2.	Technical Service Fee 

 

	(1)	Without Party B’s prior written consent, Party A shall have no right to set off the technical service fees hereof against other amounts payable to Party A by Party B hereunder. 

 

     

     

    

 

	(2)	The technical service fees hereunder shall be calculated and verified by the Parties on the basis of the actual technical services provided by Party B, and shall be the sum of the following: 

 

	 	a.	the fee for using and servicing the computer hardware and software, which shall be a certain percentage of Party A’s annual sales revenue; 

 

	 	b.	the fee for managing the technical service in connection with the brand-names, which shall be a certain percentage of Party A’s annual sales revenue; 

 

	 	c.	the service charges for Party B’s technician employees’ services provided during their normal business hours, which shall be based on the actual time of service spent and the specific services provided, and which, for a specific technician employee, shall be the product of his particular hourly rate multiplied by the time he actually spent; 

 

	 	d.	other fees, at rates agreed upon by the Parties in view of the actual circumstances; and 

 

	 	e.	if party A does not have any profit in a given year, Party B will not charge any service fees for the year. 

 

	(3)	The technical service fees hereunder shall be paid by Party A to Party B monthly (or quarterly / annually) in RMB. Party B may collect in advance annual service fees around mid-year or at other times agreed upon by the Parties. 

 

	(4)	Party A shall be responsible for all the tax liabilities arising from the service fees hereunder. 

 

	(5)	To guarantee the payment of the technical service fees hereunder, Party A’s shareholders will pledge to Party B all the equity interests they hold in Party A. A separate equity interest pledge agreement will be entered into among Party A’s shareholders and Party B. 

 

	3.	Obligations of Party A 

 

	(1)	To enable Party B to provide the technical services satisfactorily, Party A shall ensure that it will fully inform Party B of its business arrangements, and will provide to Party B on a regular basis information regarding its business activities. 

 

	(2)	Party A shall timely provide to Party B its financial materials and information, including but not limited to Party A’s monthly, quarterly and annual financial and accounting statements, budget arrangements and business plans; 

 

	(3)	Party A shall promptly report to Party B regarding Party A’s involvement in any pending or threatened litigation or arbitration, or regarding any pending or threatened administrative penalty made by related government authority against it; and 

 

	(4)	Party A shall provide to Party B other information at Party B’s reasonable request. 

 

	4.	Restrictive Provisions 

 

During the term of this Agreement, without Party
B’s prior written consent,

 

	(1)	Party A shall not accept any third party’s any technical services identical or similar to those hereunder; 

 

	(2)	Party A shall not transfer, sell, lease, mortgage, pledge or otherwise dispose of its assets (including tangible and intangible assets existing or to be acquired) unless necessary for its normal business operations. 

 

	(3)	Party A shall not dissolve or liquidate itself voluntarily, or consolidate with any third party; 

 

	(4)	Party A shall not provide guarantee for the debts of any third party; 

 

	(5)	Party A shall not distribute dividends to its shareholders or pay back the investments, nor shall it acquire directly or indirectly any shares outstanding or to be issued by back purchase, reclaiming, purchase, or otherwise. 

 

	(6)	Party A shall not have any transactions with any of its affiliates, no matter whether such transactions are within the scope of its normal business operations; 

 

     

     

    

 

	(7)	Party A shall not repay any outstanding debts by advance payment, selective payment or by acquiring asset trust, nor shall it amend or permit amendment of any terms of agreements relating to its debts, or amend its articles of association or business license; 

 

	(8)	Party A shall not engage in businesses that beyond its business scope; 

 

	(9)	Party A shall not assign part or all of its operation and management rights to any party other than Party B or Party B’s designated affiliates, or 

 

	(10)	Party A shall not invest in any other entity or waive its right against any third party. 

 

	5.	Provisions of Confidentiality 

 

	(1)	Both Parties shall keep in strict confidentiality regarding the negotiation, execution and the contents of this Agreement, and shall not disclose any of the above to any third party, unless required by compulsory provisions of the relevant laws, regulations or government authorities; 

 

	(2)	Each Party shall keep in strict confidentiality any trade secret of the other Party obtained in the course of the negotiation, execution and performance of this Agreement, and shall not disclose any of the above to any third party, unless required by compulsory provisions of the relevant laws, regulations or government authorities; 

 

	(3)	The Parties’ obligation of confidentiality with respect to the above shall survive the termination of this Agreement. 

 

	6.	Effect and Term of this Agreement 

 

	(1)	This Agreement shall be concluded after the signatures or seals of the Parties are affixed to it. The Parties agree that this Agreement will become effective as of the execution date. 

 

	(2)	The term of this Agreement shall be ten years starting from the effective date. Unless Party B terminates this Agreement by written notice three months before the expiration of the term, this Agreement shall automatically be renewed for a term of another ten years. 

 

	7.	Liabilities for Breach 

 

	(1)	In the event of any breach by either Party, the breaching Party shall be liable to the non-breaching Party for its breach, and shall indemnify the latter for the losses caused by such breach. The non-breaching Party may give the breaching Party reasonable opportunity to cure. 

 

	(2)	If the breaching Party fails to cure within reasonable time, the non-breaching Party shall have the right to terminate this Agreement, and seek damages from the breaching Party for all its actual losses, including but not limited to all reasonable expenses incurred by such non-breaching Party in executing and performing this Agreement (including fees and charges of agents, etc.). The damages shall not be more than the losses which, at the time of execution of this Agreement, the breaching Party foresaw or should have foreseen would result from its breach. 

 

	8.	Notice 

 

Unless there is a written notice regarding
change of address, all notices relating to this Agreement shall be addressed in accordance with the following and delivered by
personal delivery, fax or registered mail. If notice is given through registered mail, the date on the confirmation slip shall
be deemed the date of delivery. If notice is given by personal delivery or via fax, the date of actual receipt shall be deemed
the date of delivery. In the case of delivery via fax, the original copy of the notice shall be sent to the following relevant
address by personal delivery or by registered mail.

 

Party A:

 

Shanghai Acorn Network Technology Development Co., Ltd.

 

Address: A-46, No.55, Lane 1135, Jiasong Zhong Road, Huaxin
Town, Qingpu District, Shanghai

 

     

     

    

 

 

Party B:

 

Acorn Information Technology (Shanghai) Co., Ltd.

 

Address: Room 669-05, Building 2, No.351, Guoshoujing Road,
Zhangjiang Hi-Tech Park, Shanghai

 

	9.	Governing Law and Dispute Resolution 

 

	(1)	Matters regarding the effectiveness, interpretation and performance of this Agreement, and resolution of disputes arising hereunder, shall be governed by the law of the People’s Republic of China. 

 

	(2)	Disputes arising out of or in connection with this Agreement shall first be resolved through consultation between the Parties. If a dispute cannot be resolved within 30 days after consultation begins, either Party may bring the dispute to the China International Economic and Trade Arbitration Commission in Beijing for arbitration under the auspices of three arbitrators designated in accordance with its rules. The arbitration award shall be final and binding upon the parties.

 

	10.	Miscellaneous Provisions 

 

	(1)	Without the prior written consent of the other Party, no Party shall assign any part of its rights and obligations hereunder to a third party, except that Party B may transfer rights and obligations hereunder to any of its affiliates. 

 

	(2)	The invalidity or unenforceability of any provision or part of this Agreement shall not affect the validity or enforceability of any other provision hereof. 

 

	(3)	Any successor to a Party hereto shall assume the rights and obligations of such Party as if it were a Party to this Agreement. 

 

	(4)	This Agreement is executed in two original copies, with one for each of the Parties. The Parties may execute more counterparts if necessary. 

 

	(5)	This Agreement constitutes the entire agreement between the Parties with respect to the subject matter hereof, and supersedes all oral and written understandings and agreements between the Parties with respect to the subject matter prior to the effectiveness of this Agreement. This Agreement shall not be amended without the consent of Party B’s auditing committee or other independent institution of its board of directors. 

  

[Signature Page of Exclusive Technical Service Agreement, which
does not contain any part of the text]

 

Shanghai Acorn Network Technology Development Co., Ltd. (Corporate
Seal) (chopped) 

 

Legal Representative: /s/ Dongjie Yang (signature)

 

Acorn Information Technology (Shanghai) Co., Ltd. (Corporate
Seal) (chopped) 

 

Legal Representative: /s/ Dongjie Yang (signature)EXHIBIT 4.23

 

OPERATION AND MANAGEMENT AGREEMENT 

 

This Operation and Management Agreement (the “Agreement”)
is entered into on May 27, 2015 in Shanghai, China among:

 

Party A: 

 

Acorn Information Technology (Shanghai) Co., Ltd. 

 

	Legal Address:	 	Room 669-05, Building 2, No.351, Guoshoujing Road, Zhangjiang Hi-Tech Park, Shanghai 

 

Party B: 

 

Shanghai Acorn Network Technology Development Co., Ltd. (“Acorn
Network Technology”)

 

	Legal Address:	 	A-46, No.55, Lane 1135, Jiasong Zhong Road, Huaxin Town, Qingpu District, Shanghai

 

Party C: 

 

Kuan Song 

 

	ID Card No.:	 	410503198209212012
	 	 
	Address:	 	Room 2202, Floor 5, Building 25, Ganlu Garden Nan Li, Chaoyang District, Beijing

 

Pan Zong 

 

	ID Card No.:	 	410901198605200020
	 	 
	Address:	 	Room 9, Unit 1, Building 4, Yard 7, Kaizhou Road, Hualong District, Puyang City, Henan Province

 

Party A, Party B and Party C are hereinafter collectively referred
to as the “Parties” and individually as a “Party.”

 

Whereas: 

 

	(1)	Party A is a wholly foreign owned enterprise established in China; 

 

	(2)	Party B is a limited liability company registered in China with an independent legal person status; 

 

	(3)	Party A and Party B have established business relationship by entering into an Exclusive Technical Services Agreement (the “Service Agreement”); 

 

	(4)	Party A and Party C have entered into a certain Equity Pledge Agreement (the “Equity Pledge Agreement”) to ensure Party B’s payment of the technical service fee to Party A based on the Service Agreement; 

 

	(5)	Pursuant to the Service Agreement, Party B shall pay to Party A certain technical service fee. However, up to now, the technical service fee is still not yet paid and the daily operation of Party B has a material effect on its ability to pay to Party A the technical service fee; 

 

	(6)	Party C constitutes the shareholders of Party B and has a 100% equity interest in Party B. Kuan Song and Pan Zong hold a 90% equity interest and a 10% equity interest respectively in Acorn Network Technology. 

 

NOW THEREFORE, in consideration of the foregoing premises and
the mutual agreements contained herein, the Parties hereby agree as follows:

 

	1.	To ensure Party B’s daily operation and management, Party A agrees to provide guarantee for Party B’s obligations to a third party under any contract or agreement entered into between Party B and a third party or other transactions at the request of a third party and then a guarantee agreement will be entered into. Party B agrees to provide counter-guarantee with its accounts receivable and its assets in connection with the aforesaid Party A’s guarantee. 

 

     

     

    

 

	2.	As a condition precedent to Article 1 hereof and to ensure the performance of other operation agreements between Party A and Party B (for example, the payment of Party B’s technical service fee), Party B and Party C (i.e., Party B’s shareholder) hereby agree that without the prior written consent of Party A, Party B shall not carry out any transaction which may materially affect its assets, obligations, rights or operation or management, including, but not limited to: 

 

	 	(1)	borrow money from or assume debt for any third party; 

 

	 	(2)	purchase or sell any assets or rights or interests from or to any third party, including, but not limited to, any intellectual property rights; 

 

	 	(3)	provide any third party with guarantee interest in Party B’s assets or intellectual property rights; 

 

	 	(4)	transfer to any third party any agreement with respect to Party B’s business. 

 

	3.	To ensure the performance of other operation agreements between Party A and Party B (for example, the payment of Party B’s technical service fee), Party B and Party C (i.e., Party B’s shareholder) hereby agree to accept company policies and guidance provided by Party A from time to time with respect to Party B’s employment and dismissal of employees, daily operation and management and financial management policies. 

 

	4.	Party B and Party C (i.e., Party B’s shareholder) hereby agree that: (1) the persons appointed by Party A or its affiliates will attend and exercise the voting right at the meeting of shareholder of Party B on behalf of Party C (i.e., Party B’s shareholder); (2) Party B will appoint candidates nominated by Party A or its affiliates as Party B’s directors and undertake that the constitution of the board of directors of Party B and the directors’ rights shall be in consistency with those of the board of directors of Party A; (3) Party B will appoint persons employed and designated by Party A as Party B’s general manager and other senior management persons; (4) Party B and Party C will amend Party B’s articles of association in accordance with the above agreement. If such candidates as nominated by Party A or its affiliate no longer act as a director of Party A or its affiliate or are no longer employed by Party A or its affiliate, whether they are voluntarily resigned or dismissed by Party A, they will accordingly no longer hold any positions in Party B. In such case, Party B shall appoint other management persons employed or designated by Party A. 

 

	5.	Party B and Party C (i.e., Party B’s shareholder) hereby agree and acknowledge that, in addition to relevant provisions in Article 1 hereof, if Party B needs to fulfill any guarantee or needs any guarantee for its working capital to be borrowed during its operation, Party B shall first apply to Party A for such guarantee. In such case, Party A shall have the right but no obligation to provide Party B with proper guarantee. If Party A does not provide such guarantee, it shall promptly send a written notice to Party B for Party B’s seeking guarantee from a third party. If Party A is willing to provide guarantee, Party A will enter into a contract with Party B or the parties may otherwise enter into a guarantee agreement. Party A’s warrant hereunder does not by itself constitute Party A’s obligation to act as a guarantor under any guarantee agreement which has not yet been signed by Party A. 

 

	6.	If any of the agreements between Party A and Party B is expired or terminated, Party A shall have the right but no obligation to terminate all of the agreements between Party A and Party B, including but not limited to the Service Agreement. 

 

	7.	This Agreement may be amended or supplemented only by agreement in writing executed by each of the Parties. Any such amendment or supplement is an integral part of this Agreement with the same force and effect as this Agreement. 

 

	8.	
        Notice

        Unless there is a written notice regarding change of address,
        all notices relating to this Agreement shall be addressed to the following address and delivered by personal delivery, fax or registered
        mail. If notice is given through registered mail, the date on the confirmation slip shall be deemed the date of delivery. If notice
        is given by personal delivery or via fax, the date of actual receipt shall be deemed the date of delivery. In the case of delivery
        via fax, the original copy of the notice shall be sent to the following relevant address by personal delivery or by registered
        mail.

 

	Party A:	 	Acorn Information Technology (Shanghai) Co., Ltd.
	 	 
	Address:	 	Room 669-05, Building 2, No.351, Guoshoujing Road, Zhangjiang Hi-Tech Park, Shanghai 

 

     

     

    

 

	 	 
	Party B:	 	Shanghai Acorn Network Technology Development Co., Ltd.
	 	 
	Address:	 	A-46, No.55, Lane 1135, Jiasong Zhong Road, Huaxin Town, Qingpu District, Shanghai
	 	 
	Party C:	 	 
	 	 
	Kuan Song 	 	 
	 	 
	Address:	 	Room 2202, Floor 5, Building 25, Ganlu Garden Nan Li, Chaoyang District, Beijing
	 	 
	Pan Zong	 	 
	 	 
	Address:	 	Room 9, Unit 1, Building 4, Yard 7, Kaizhou Road, Hualong District, Puyang City, Henan Province

 

	9.	The validity, interpretation, performance and settlement of disputes under this Agreement shall all be governed by the laws of the People’s Republic of China. 

 

	10.	Disputes arising out of or in connection with this Agreement shall first be resolved through consultation among the Parties. If a dispute cannot be resolved within 30 days after consultation begins, any Party may bring the dispute to the China International Economic and Trade Arbitration Commission in Beijing for arbitration under the auspices of three arbitrators designated in accordance with its rules. The arbitration award shall be final and binding upon the Parties. 

 

	11.	This Agreement shall be concluded after it is signed or affixed seals by the Parties. The Parties agree that this Agreement shall take effect as of the execution date. During the valid existence of Party A and Party B hereunder, unless this Agreement is early terminated in accordance with its relevant provisions herein, this Agreement shall continue to be valid for ten years from the effective date hereof. The term of this Agreement shall be automatically extended for another ten years except Party A may terminate this Agreement in writing three months before its expiration. 

 

	12.	Any successor to a Party hereto shall assume the rights and obligations of such Party hereunder as if it were a Party to this Agreement. 

 

	13.	This Agreement is executed in four original copies, with one for each of the Parties. The Parties may execute more counterparts if necessary. 

 

	14.	This Agreement constitutes the entire agreement among the Parties with respect to the subject matter hereof, and supersedes all oral and written understandings and agreements among the Parties with respect to the subject matter prior the effective date of this Agreement. This Agreement shall not be amended without the consent of Party A’s auditing committee or other independent institution of its board of directors. 

 

[Signature Page of Operation and Management Agreement, which
does not contain any part of the text]

 

Party A:

 

Acorn Information Technology (Shanghai) Co., Ltd. (Corporate
Seal) (chopped)

 

Legal Representative: /s/ Dongjie Yang (Signature)

 

Party B:

 

Shanghai Acorn Network Technology Development Co., Ltd. (Corporate
Seal) (chopped)

 

Legal Representative: /s/ Dongjie Yang (Signature)

 

Party C:

 

/s/ Kuan Song (Signature)

 

Party C:

 

/s/ Pan Zong (Signature)

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